Core Viewpoint - The article discusses the growing debate around the safety and acceptance of pre-prepared meals (pre-cooked dishes) in restaurants, highlighting consumer skepticism and the potential for a centralized kitchen model in the food industry [1]. Group 1: Consumer Sentiment - Approximately 50.98% of respondents do not accept pre-prepared meals, while about 37.5% are accepting, and 11.52% are indifferent [1]. - Over 66.41% of respondents believe that pre-prepared meals should not be served in restaurants, with only 15.23% in favor of their inclusion [5]. - A significant 96.68% of respondents think that pre-prepared meals should be clearly labeled in restaurants [7]. Group 2: Pricing and Expectations - 91.6% of respondents consider a reasonable price for pre-prepared meals to be below 100 yuan, and 92.26% believe that the pricing at Xibei is too high [11]. - Nearly 50% of respondents indicated they would not choose restaurants that serve pre-prepared meals, reflecting a strong preference for freshly made dishes [13]. Group 3: Industry Expert Opinions - Experts suggest that transparency regarding pre-prepared meals is crucial, with over 80% of respondents supporting the idea that consumers should be informed about the use of such meals [15]. - The president of the Shenzhen Culinary Association stated that centralized kitchens can effectively ensure food safety, especially for chain restaurants [16]. - Industry analysts emphasize the need for national standards for pre-prepared meals and licensing for central kitchens to alleviate consumer fears and ensure quality [16].

Core Viewpoint - The debate surrounding pre-prepared meals continues, with West Be's apology and commitment to improve food preparation practices, including using non-GMO soybean oil and making certain dishes on-site [1][3]. Group 1: Company Actions and Commitments - West Be has acknowledged previous issues and promised to adjust its central kitchen processing to on-site preparation, including changes to ingredients and cooking methods [1]. - The company will switch all dishes cooked with soybean oil to non-GMO soybean oil and will prepare children's beef patties on-site instead of using pre-prepared options [1]. Group 2: Consumer Concerns and Industry Insights - Safety concerns are paramount for consumers, particularly regarding the 24-month shelf life of frozen broccoli, which has drawn significant attention [1]. - Industry analyst Zhu Danpeng noted that the technology for long-shelf-life pre-prepared meals is mature and does not require preservatives, similar to products like eight-treasure porridge [1][2]. Group 3: Nutritional Aspects - Nutritional loss can occur during the processing, storage, and transportation of frozen vegetables, with Zhu indicating that frozen vegetables may require higher quantities to meet dietary standards compared to fresh ones [2]. - The freezing process, including blanching, can lead to some nutrient loss, but it can also significantly slow down further nutrient degradation compared to refrigeration [2]. Group 4: Regulatory Developments - The National Health Commission is set to release a draft national standard for pre-prepared meals, which will include mandatory guidelines on ingredient disclosure and processing methods [4]. - The new standards aim to clarify definitions and regulations surrounding pre-prepared meals, addressing long-standing confusion and regulatory gaps in the industry [4]. Group 5: Public Perception and Education - There is a significant public misconception that fresh ingredients are inherently better than frozen ones, which complicates the discussion around pre-prepared meals [3]. - Experts emphasize the need for better public education on food safety and preparation methods to alleviate confusion and promote informed consumer choices [5].

Core Viewpoint - The survey indicates a significant resistance among consumers towards pre-prepared meals, with around 50% rejecting them and over 60% opposing their introduction in restaurants [1][3][11]. Consumer Acceptance - Approximately 50.98% of respondents do not accept pre-prepared meals, while about 37.5% accept them, and 11.52% are indifferent [1]. - 66.41% of respondents believe pre-prepared meals should not enter restaurants, with only 15.23% supporting their inclusion [3]. Transparency and Labeling - A strong majority, 96.68%, of respondents believe that pre-prepared meals should be clearly labeled [5]. - When asked if they would choose a restaurant that labels pre-prepared meals, 47.66% said they would not, while 21.68% would consider it [6]. Pricing Perception - A significant 91.6% of respondents think that the average price for pre-prepared meals should be below 100 yuan, and 92.26% consider the prices at Xibei to be too high [7][11]. Industry Insights - Experts suggest that consumer perceptions of pre-prepared meals differ from those of food professionals, and the central kitchen model is becoming increasingly necessary in the restaurant industry [1][12]. - The need for national standards for pre-prepared meals is emphasized, along with the importance of licensing for central kitchens to ensure safety and quality [12].

Core Insights - Longda Food, once favored by the capital market as a "pre-made food concept stock," is currently facing dual challenges of sluggish main business growth and obstacles in strategic transformation [1] - The company's H1 2025 report reveals a decline in both revenue and net profit, with total revenue at 4.975 billion yuan, down 1.38% year-on-year, and net profit attributable to shareholders at 35.1687 million yuan, down 39.52% year-on-year [1] Business Structure Challenges - Longda Food's core challenge lies in its imbalanced business structure, heavily reliant on the low-margin slaughtering business, which, despite its large revenue scale, contributes minimally to profits [2] - The pre-made food segment, positioned as a future growth engine, has faced significant revenue declines during the reporting period, indicating that the strategic transformation is more difficult than anticipated [2] - The pre-made food industry is characterized by intense competition, with a market landscape that shows insufficient consumer recognition despite policy support and capital empowerment [2] Financial Pressure and Debt Risks - The significant increase in financial expenses has further compressed the already limited profit margins, with interest burdens becoming a key factor dragging down overall performance [3] - The company faces notable short-term debt pressure, with a declining current ratio indicating weakened short-term solvency, thus increasing financial risk [3] - Longda Food exhibits a "high debt and high cash" phenomenon, raising questions about its financial management efficiency due to substantial short-term borrowings alongside considerable cash reserves [3] - The growing ratio of accounts receivable to revenue suggests a weakening ability to collect payments, increasing cash flow pressure [3] Strategic Responses - In response to current challenges, Longda Food is attempting various strategies, including controlling breeding scale, adjusting product structure, deepening processing business, and expanding new retail channels [3] - However, these measures have yet to reverse the declining performance, and the company must find more effective ways to enhance product competitiveness and market recognition in an increasingly competitive pre-made food industry [3]

Core Insights - Weizhi Xiang, once a darling of the capital market and known as the "first stock of prepared dishes," is facing a dilemma of increasing revenue without profit due to rising raw material costs and channel contraction [1][2] Financial Performance - In the first half of 2025, the company achieved operating revenue of 343 million yuan, a year-on-year increase of 4.7% - The net profit attributable to shareholders was 31.9468 million yuan, a year-on-year decrease of 24.46% [1] Cost Pressures and Profitability Challenges - The core issue for Weizhi Xiang is the continuous rise in raw material costs, particularly beef, which significantly impacts overall profitability due to its high proportion in the product structure [2] - Attempts to adjust product prices have not fully covered the cost increases, leading to a persistent decline in gross profit margins as cost growth outpaces revenue growth [2] Channel Contraction and Market Bottlenecks - The company is experiencing a reduction in the number of distributors, with both retail and wholesale channels shrinking, indicating challenges in market expansion [3] - Heavy reliance on the East China region, which has reached a growth ceiling, limits overall revenue growth despite strong performance in other regions [3] - The shift towards supermarket channels has provided short-term growth, but significant declines in direct sales and e-commerce revenues highlight a structural imbalance in the channel strategy [3] Industry Challenges - The prepared dishes industry faces multiple challenges, including low entry barriers, product homogeneity, channel competition, and insufficient consumer trust [3] - Consumer skepticism regarding the taste, safety, and nutrition of prepared dishes, compounded by negative events, has weakened market confidence [3] - Weizhi Xiang is attempting to address these challenges through channel adjustments, targeting lower-tier markets, expanding group meal clients, collaborating with leading supermarket chains, and diversifying product offerings [3][4] Future Outlook - The effectiveness of the company's measures to overcome its challenges remains to be seen, as it must navigate key hurdles related to cost control, consumer trust, and industry compliance to achieve profitability and reputation [4]

Core Viewpoint - In the first half of 2025, Qianwei Yangchun faced significant challenges in the restaurant supply chain industry, reporting a revenue decline of 0.7% year-on-year to 886 million yuan and a net profit drop of 39.7% to 35.79 million yuan, indicating stagnation in core business growth and shrinking profit margins [1] Group 1: Product Iteration Challenges - The company's reliance on traditional product lines, particularly staple and snack categories, has led to a decline in sales as core products like fried dough sticks and sesame balls lose market appeal [2] - Efforts to develop new products in baking and prepared dishes have not yielded significant results, with these segments still too small to drive substantial revenue growth [2] - The shift towards lower-margin products has further pressured overall profitability, revealing a gap in product transition between old and new offerings [2] Group 2: Channel Distribution Pressures - The company maintains a weak recovery in its direct sales channel, primarily due to strong ties with major clients like Yum China and Hema, but faces pressure as these clients demand better pricing [3] - The decline in the distribution channel is more alarming, with over 300 channel partners lost in six months, leading to a significant drop in sales from distributors [3] - Rising costs of raw materials, such as flour and oils, have made it difficult for the company to pass on these costs to customers, resulting in profit erosion [3] Group 3: Trust Crisis and Industry Transparency - The prepared food industry is experiencing a trust crisis, with increasing consumer scrutiny over ingredient processing, compelling restaurant clients to enforce stricter supply chain standards [4] - The company must invest more in quality control, traceability, and transparency, but these efforts are unlikely to yield immediate financial returns [4] Group 4: Need for Strategic Reform - The company's performance reflects the broader challenges faced by restaurant supply chain businesses during industry adjustments, with traditional business pressures and new business investment pains [5] - To regain balance, the company needs to focus on three areas: product innovation, optimizing distribution channels, and developing dynamic cost adjustment capabilities [5] - However, market patience is waning due to regulatory changes, shifting consumer preferences, and capital valuation adjustments, necessitating urgent internal reforms [5]

Core Viewpoint - The dispute between Luo Yonghao and Jia Guolong regarding pre-prepared dishes has concluded, with West Be acknowledging the need for transparency in the use of pre-prepared ingredients in restaurants [1][2] Industry Overview - The pre-prepared dish sector has seen a rise in stock prices despite consumer backlash, with companies like Delisi and established brands such as Weizhi Xiang and Sanquan Foods experiencing significant gains [1][2] - The National Health Commission's draft for national food safety standards for pre-prepared dishes is expected to provide clarity on the definition and usage of these products in the restaurant industry [1][2] Definitions and Concepts - The distinction between central kitchens and pre-prepared dishes is crucial, with pre-prepared dishes being fully cooked and frozen for direct consumption, while central kitchens provide semi-finished products that require further cooking [3][4] - The official definition of pre-prepared dishes by the State Administration for Market Regulation excludes dishes made in central kitchens, highlighting the need for clarity in industry standards [2][3] Market Dynamics - The development of central kitchens is seen as a trend in the restaurant industry, driven by the need for efficiency and quality control in food preparation [4][6] - The pre-prepared dish market in China is still in its early stages, with significant differences compared to Japan, where a well-established market exists with strict food production standards [7][9][10] Future Outlook - The pre-prepared dish industry in China is projected to grow rapidly, with estimates suggesting a market size of 674.9 billion yuan by 2030 and a compound annual growth rate (CAGR) exceeding 10% [12] - Companies are recognizing the challenges in gaining consumer trust and are implementing quality management measures to address food safety and regulatory issues [11][12]

Core Viewpoint - The recent controversy surrounding pre-prepared meals in the restaurant industry highlights a significant disconnect between industry standards and consumer perceptions, emphasizing the need for better communication and transparency [1][4][28]. Group 1: Industry Dynamics - The pre-prepared meal industry has evolved from being rejected by the restaurant sector to being widely accepted, yet consumer understanding remains limited [4][7]. - There is a lack of unified definitions and standards for pre-prepared meals, leading to misunderstandings between industry professionals and consumers [16][27]. - The primary reasons for restaurants using pre-prepared meals are cost control and the need for standardization across multiple locations [10][11]. Group 2: Consumer Perception - Consumers often equate any meal that is not freshly prepared on-site with being a pre-prepared meal, which creates a perception problem for restaurants [5][18]. - The key issue for consumers is the perceived value of pre-prepared meals, with a strong emphasis on whether the price reflects the quality of the food [20][21]. - Transparency regarding the use of pre-prepared meals is a double-edged sword for restaurants, as full disclosure may harm brand image while withholding information could lead to trust issues [22][24]. Group 3: Future Outlook - The trend towards industrialization in the restaurant sector is irreversible, with increasing costs and the demand for standardization driving the adoption of pre-prepared meals [26][27]. - The future of the restaurant industry may see a diversification of models, ranging from fully made-to-order establishments to those that embrace pre-prepared meal solutions [31][32]. - A collaborative effort is needed among businesses, industry regulators, and consumers to establish clear standards and improve communication, ensuring a balanced approach to efficiency and consumer experience [30][33].

Group 1 - The core viewpoint of the article highlights the surge in the A-share market for pre-made meal concept stocks, with companies like Weizhi Xiang hitting the daily limit, and Huatian Hotel rising over 5% [1] - The draft of the "National Standard for Food Safety of Pre-made Dishes" has passed review and is set to solicit public opinions [1] - Data indicates that the market size for pre-made dishes in China is expected to exceed 600 billion yuan by 2025, with projections suggesting it could reach a trillion yuan by 2026 [1] Group 2 - The penetration rate of pre-made dishes in the chain restaurant sector has reached 80% [1]

Core Viewpoint - The reliance of the restaurant industry on pre-prepared dishes is decreasing, as evidenced by the shift towards fresher, made-to-order food options among leading restaurant chains like Jiumaojiu Group's Taier Sour Fish [1] Group 1: Market Trends - The pre-prepared dish concept sector saw initial strength, with stocks like Delisi and Huifa Foods hitting the limit up, but later experienced a decline of 1.51% on September 17 [2] - Analysts suggest that the long-term trend for pre-prepared dishes remains positive due to increasing restaurant chain standardization, rising labor costs, and faster consumer lifestyles, indicating growth potential in both B2B and B2C markets [2][3] - The demand for pre-prepared products such as cleaned vegetables and processed seafood is rising among chain restaurants, driven by considerations of cost, supply chain stability, and safety [2][3] Group 2: Industry Dynamics - The increasing chain restaurant ratio, currently around 30%, is expected to drive growth in pre-prepared dishes, creating a mutually beneficial cycle between industry concentration and supply chain strength [3] - Unlike the cooling B2C market, B2B sectors like cleaned vegetables and seafood processing continue to expand their market share [4] - The pre-prepared dish industry is still in its early to mid-development stage, with a fragmented competitive landscape and a focus on B2B efficiency and standardization [4] Group 3: Investment Landscape - Several provinces have previously launched supportive policies for the pre-prepared dish industry, focusing on local agricultural products, but many face challenges in attracting investment [6] - Investment in the pre-prepared dish sector has seen a decline since 2022, with a notable drop in financing activity in 2023 and 2024 [7]