预制菜风口

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净利首次下滑,预制菜同比增速最快!安井食品下半年该如何破局?
Nan Fang Nong Cun Bao· 2025-08-28 11:32
Core Viewpoint - Anjiu Food's net profit has declined for the first time since its listing in 2017, indicating a potential phase of adjustment for the company amid a slowing frozen food industry and increasing competition [10][21]. Financial Performance - In the first half of 2025, Anjiu Food reported operating revenue of 76.04 billion yuan, a slight increase of 0.8% year-on-year [5][20]. - The net profit attributable to shareholders was 6.76 billion yuan, representing a decrease of 15.79% compared to the previous year [5][10]. - The company's non-recurring net profit was 6.03 billion yuan [8]. Industry Context - The overall growth rate of the frozen food industry is slowing, with competition intensifying and companies resorting to price cuts to gain market share, which compresses profit margins [16][17]. - The frozen food market in China is projected to reach approximately 221.2 billion yuan in 2024, with growth rates declining to single digits [20]. Product Segmentation - Pre-prepared dishes have become the fastest-growing segment for Anjiu Food, with revenue reaching 24.16 billion yuan in the first half of 2025, a year-on-year increase of 9.40% [26][27]. - In contrast, revenue from frozen prepared foods decreased by 1.94%, while frozen rice and noodle products saw a decline of 3.89% [29]. Strategic Focus - The company is focusing on developing 3-5 strategic flagship products each year to enhance profitability and brand influence [40][41]. - Anjiu Food is also expanding its market reach by penetrating lower-tier markets and embracing new retail channels, including partnerships with major supermarkets for customized products [45][50].