Core Viewpoint - The enthusiasm for the prepared food industry appears to be cooling, as major companies report disappointing financial results, indicating a shift towards a new adjustment phase in the industry [2][3]. Financial Performance - Weizhi Xiang reported a revenue of 343 million yuan in the first half of the year, a year-on-year increase of 4.7%, but its net profit attributable to shareholders decreased by 24.5% to 31.95 million yuan [1]. - Qianwei Yangchu's revenue fell by 0.7% to 886 million yuan, with a net profit drop of 39.7% to 35.79 million yuan [1]. - Anjixin's revenue slightly increased by 0.8% to 7.604 billion yuan, but its net profit decreased by 15.79% to 676 million yuan, marking the first decline in mid-term net profit since its listing [1][3]. Industry Challenges - Rising raw material prices have been a common concern among these companies, with Weizhi Xiang noting that increased costs have compressed profit margins [1][2]. - Qianwei Yangchu highlighted significant profit pressure due to raw material price fluctuations [1][3]. - Anjixin attributed its profit decline to rising costs and intensified competition leading to increased promotional efforts [1]. Market Dynamics - The prepared food market in China reached a scale of 485 billion yuan in 2024, growing by 33.8%, with expectations to reach 749 billion yuan by 2026 [6]. - The number of registered prepared food companies has exceeded 28,000, with approximately 13,000 new registrations in the past year [6]. - Despite market growth, there are concerns about inconsistent execution standards and food safety issues within the industry [6]. Consumer Perception - Consumer feedback indicates a need for improved brand perception, as many still associate prepared foods with convenience but lack trust in quality [5]. - The conversion rate from consumer interest to actual purchases remains low, suggesting that companies need to enhance brand value and consumer trust [5]. Regulatory Environment - New food additive standards will be implemented in February 2025, requiring companies to adjust product formulations and labeling to ensure safety [7]. - These regulations are expected to raise the entry barriers for the prepared food industry, promoting a more standardized and professional market environment [7].

市场对预制菜的热情似乎正在降温。近期，多家预制菜企业公布了上半年业绩，其中，有着"预制菜第一股"之称的味知香出现增收不增利的现象；"餐饮供 应链第一股"千味央厨营收微降，归母净利润下滑约四成。此外，曾凭借预制菜业务实现业绩增长的速冻食品龙头企业安井食品，也出现了上市以来首次中 期净利下滑，其中预制菜业务增速已出现明显放缓。原材料成本上涨、行业竞争加剧成为上述企业在财报中重点提及的内容。业界认为，随着预制菜龙头企 业的业绩集体踩下刹车，预制菜行业正进入一个新的调整阶段。 财报各有忧愁 从财报数据来看，味知香上半年实现营收3.43亿元，同比增长4.7%；归母净利润为3195万元，同比下降24.5%。与此同时，公司毛利率同比减少4.02个百分 点至20.83%。另一家预制菜龙头企业千味央厨的业绩同样并不乐观。上半年，千味央厨实现营收8.86亿元，同比下降0.7%，归母净利润为3579万元，同比下 降39.7%。 此外，自2018年起开始布局预制菜，并将其作为第二增长曲线重点打造的安井食品，同样面临业绩压力，上半年公司营收微增0.80%至76.04亿元；归母净利 润同比下降15.79%至6.76亿元，出现上市以来首次 ...

登录新浪财经APP 搜索【信披】查看更多考评等级 7 月 14 日晚间，山东惠发食品（维权）股份有限公司发布 2025 年上半年业绩预告，预计当期归属于上 市公司股东的净亏损为 2500 万元至 3300 万元，亏损金额较上年同期进一步扩大。这份预告揭示了公司 面临的持续的经营压力。 业绩持续承压：消费疲软与成本高企的双重挤压 根据业绩预告，惠发食品上半年亏损扩大的核心原因集中在两个层面。一方面，消费市场疲软与行业竞 争加剧形成共振，直接导致公司营业收入同比减少。作为以速冻预制菜为主营业务的企业，其产品需求 与餐饮消费、家庭餐桌消费紧密相关，而当前消费端的谨慎态度使得市场需求增长乏力，行业内企业为 争夺有限市场份额纷纷加大促销力度，进一步压缩了利润空间。 另一方面，为应对激烈的市场竞争，公司持续投入资源开拓市场和销售渠道，导致管理费用、销售费用 等期间费用高企。这种 "以费用换市场" 的策略在行业整体增速放缓的背景下效果有限，反而加剧了利 润压力。数据显示，2021 年至 2024 年，公司扣非净利润已累计亏损近 3 亿元，而 2025 年上半年的预 亏态势，意味着其主营业务的盈利能力仍未得到实质性改善。 股 ...