香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或因倚 賴該等內容而引致的任何損失承擔任何責任。 FOSHAN HAITIAN FLAVOURING AND FOOD COMPANY LTD. 佛山市海天調味食品股份有限公司 （於中華人民共和國註冊成立的股份有限公司） （股份代號：3288） 本公告乃根據《香港聯合交易所有限公司證券上市規則》第13.10B條而作出。 茲載列佛山市海天調味食品股份有限公司（「本公司」）在上海證券交易所網站 ( www.sse.com.cn )刊登的本公司2025年半年度報告（A股），僅供參閱。 佛山市海天調味食品股份有限公司 董事會 香港，2025年8月28日 於本公告日期，本公司董事會成員包括：(i)執行董事程雪女士、管江華先生、黃 文彪先生、文志州先生、廖長輝先生及代文先生；及(ii)獨立非執行董事張科春先 生、屈文洲先生及丁邦清先生。 佛山市海天调味食品股份有限公司 2025 年半年度报告 公司代码：603288 公司简称：海天味业 佛山市海天调味食品股份有限公 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或因倚 賴該等內容而引致的任何損失承擔任何責任。 FOSHAN HAITIAN FLAVOURING AND FOOD COMPANY LTD. 佛山市海天調味食品股份有限公司 佛山市海天调味食品股份有限公司 2025 年半年度报告摘要 公司代码：603288 公司简称：海天味业 （於中華人民共和國註冊成立的股份有限公司） （股份代號：3288） 本公告乃根據《香港聯合交易所有限公司證券上市規則》第13.10B條而作出。 茲載列佛山市海天調味食品股份有限公司（「本公司」）在上海證券交易所網站 ( www.sse.com.cn )刊登的本公司2025年半年度報告摘要（A股），僅供參閱。 佛山市海天調味食品股份有限公司 董事會 香港，2025年8月28日 於本公告日期，本公司董事會成員包括：(i)執行董事程雪女士、管江華先生、黃 文彪先生、文志州先生、廖長輝先生及代文先生；及(ii)獨立非執行董事張科春先 生、屈文洲先生及丁邦清先生。 佛山市海天调味食品股 ...

海天味业8月28日公告，上半年实现营业收入152.30亿元，同比增长7.59%；归属于上市公司股东的净利 润为39.14亿元，同比增长13.35%。 ...

人民财讯8月28日电，海天味业（603288）8月28日晚间披露半年报，2025年上半年，公司实现营业收入 152.3亿元，同比增长7.59%；归属于上市公司股东的净利润39.14亿元，同比增长13.35%；基本每股收 益0.7元。公司拟向全体股东按每10股派发现金股利2.6元(含税)。 ...

Core Viewpoint - Qianhe Flavor Industry (千禾味业) demonstrated strong operational resilience and recovery capabilities in its 2025 semi-annual report, with revenue of 1.318 billion yuan and net profit attributable to shareholders of 173 million yuan for the first half of 2025 [1] Group 1: Sales Recovery and Market Trends - The recovery in Qianhe's sales is attributed to product compliance, stable consumer demand, channel upgrades, and technological innovation [2] - The company's products have maintained a 100% compliance rate in food safety inspections since 2014, reflecting its commitment to quality [2] - The demand for healthy condiments is driving sales, particularly for the Qianhe 0 series soy sauce, which uses natural ingredients without additives [2][4] Group 2: Channel Strategy and Expansion - Qianhe is actively implementing channel reforms, with a focus on optimizing consumer experience through product labeling and category-based shelf displays [4] - Offline sales in May saw a month-on-month increase of approximately 20%, with significant growth in major retailers like Walmart and Yonghui [4] - The company has expanded its distributor network to 3,307, covering over 370 cities, and is enhancing its online presence through content e-commerce and social marketing [4] Group 3: Research and Development - In the first half of 2025, Qianhe invested approximately 41.2 million yuan in R&D, acquiring advanced equipment and establishing a research laboratory [5] - Collaborations with academic institutions have led to innovations in fermentation technology, improving flavor stability and protein utilization in soy sauce production [6] Group 4: Supply Chain Management - Qianhe has strengthened its raw material supply chain management by establishing strategic partnerships with suppliers to ensure quality and traceability [7] - The company has built a dedicated salt production line and a high-standard soybean supply chain to secure high-quality non-GMO soybeans [7] Group 5: Future Outlook - The company anticipates continued growth in the second half of 2025, supported by favorable policies, marketing efforts, and capacity expansion [8][10] - The launch of the "Double Reduction" policy on food additives is expected to further promote the trend of using natural ingredients in the condiment industry [9]

每经AI快讯，8月28日，海天味业(603288.SH)公告称，2025年上半年，公司实现营业收入152.30亿元， 同比增长7.59%；归属于上市公司股东的净利润为39.14亿元，同比增长13.35%。 ...

Core Viewpoint - The company reported a net profit of 3.914 billion yuan for the first half of 2025, reflecting a year-on-year growth of 13.35% [1] Financial Performance - The net profit for the first half of 2025 is 3.914 billion yuan [1] - This represents a 13.35% increase compared to the same period last year [1]

Core Insights - The company has demonstrated steady growth, with revenue reaching 152.3 billion yuan, a year-on-year increase of 7.6% [2] - The gross profit margin improved significantly to 39.3%, up 3.2 percentage points from the previous year, driven by lower raw material costs and enhanced production efficiency [2][3] Financial Performance - Revenue from the seasoning business was 145.6 billion yuan, growing by 10.4% [2] - Net profit attributable to shareholders was 39.1 billion yuan, reflecting a year-on-year growth of 13.3% [2] - The company reported a net profit margin of 25.8%, an increase of 1.3 percentage points compared to the previous year [2] Business Segments - Soy sauce revenue was 79.3 billion yuan, growing by 9.1%, with notable growth in health-oriented products [2][3] - Oyster sauce revenue reached 25.0 billion yuan, increasing by 7.7%, with strong performance from organic and low-salt products [2][3] - Specialty seasoning products saw a remarkable growth of 16.7%, indicating a shift towards diversified consumer preferences [2][3] Cost Management - The company effectively controlled sales costs, which amounted to 92.5 billion yuan, only increasing by 2.2%, significantly lower than revenue growth [3] - Sales and marketing expenses rose by 14.4% to 9.7 billion yuan, attributed to team expansion and increased advertising [3] - Administrative expenses increased by 19.6% to 3.2 billion yuan, reflecting investments in organizational development [3] Research and Development - R&D expenses were 4.1 billion yuan, up 8.2%, highlighting the company's commitment to innovation [4] Cash Flow and Financial Position - Operating cash flow was strong at 15.0 billion yuan, although there is room for optimization relative to revenue scale [5] - The company holds nearly 30 billion yuan in cash and bank deposits, indicating robust financial health [5] - The management faces the challenge of ensuring investment returns while planning for product development, capacity expansion, and internationalization amidst slowing growth [5]

Core Viewpoint - Qianhe Flavor Industry reported a decline in both revenue and net profit in its semi-annual report, attributing the downturn to negative public sentiment surrounding its "zero additives" selling point, which may face future uncertainties [1][2]. Financial Performance - For the first half of the year, Qianhe's revenue was 1.318 billion yuan, a year-on-year decrease of 17.07% - The net profit attributable to shareholders was 173 million yuan, down 30.81% year-on-year - The decline in revenue and net profit has accelerated compared to the previous year's decreases of 4.16% and 3.07% respectively [1]. Market Challenges - The controversy surrounding "zero additives" arose in March when Qianhe's soy sauce was found to contain cadmium, and the labeling of "Qianhe 0" was questioned - The company stated that its products meet national standards and clarified the use of the "Qianhe 0" trademark [1][2]. - The chairman mentioned that the company has not experienced such events before and is uncertain about recovery time, which typically takes 10 to 12 months in the fast-moving consumer goods sector [2]. Brand Recovery and Sales Trends - Following the controversy, Qianhe's sales experienced fluctuations, with a rapid recovery in May and June, where online and offline sales increased by approximately 15% and 2% respectively [2]. - Qianhe has been recognized as a "dark horse" in the seasoning industry, but its growth has plateaued since 2024 due to increased competition in the "zero additives" segment [2]. Consumer Behavior and Market Dynamics - There is a notable bifurcation in consumer preferences, with some seeking simple, healthy, and organic products, while others prioritize basic functionality and cost-effectiveness - This trend necessitates precise target audience identification and product definition by companies [3]. Regulatory Changes - New regulations from the National Health Commission and the State Administration for Market Regulation will prohibit the use of terms like "no additives" and "zero additives" on pre-packaged food labels starting March 16, 2027 - Qianhe plans to update its product packaging and labeling to comply with these new standards within the year [4].

Core Insights - The company reported significant growth in its financial performance for the first half of 2025, with operating revenue reaching 733 million yuan and a net profit of 8.35 million yuan, marking a turnaround from losses and a year-on-year increase of 128.64% [1] - The substantial increase in performance is attributed to a focus on core business, promotion of high-margin products, and effective cost management, leading to an overall improvement in operational capabilities and product structure [1] Financial Performance - The total profit for the period was 12.39 million yuan, reflecting a year-on-year growth of 142.35% [1] - The comprehensive gross profit margin increased by 4.26 percentage points to 29.31% [1] - The gross margin for soy sauce, a key revenue category, rose by 5.35 percentage points to 35.85%, while the gross margin for cooking oil increased by 2.14 percentage points to 9.76% [1] Product Strategy - The company has been a pioneer in the domestic seasoning industry by introducing the "reduced salt" concept in 2018 and launching its first reduced salt soy sauce in March 2019 [1][2] - The product line has expanded to include various reduced salt products, such as reduced salt soy sauce and organic options, capitalizing on the strategic opportunity presented by the "reduced salt" initiative [1][2] Sales and Marketing - The company is enhancing its sales growth by diversifying its distribution channels while maintaining traditional sales networks [3] - Online sales have seen a significant increase, with revenue from online channels reaching 25.97 million yuan, a year-on-year growth of 37.32% [3] - The "Healthy China 2030" strategy emphasizes the need for nutritional health transformation in the seasoning industry, aligning with national strategic demands [3]