12月14日，中国农业科技国际交流协会食物营养与大健康分会成立大会暨2025食物营养化转型发展大会 在北京举办。会议以"营养转型，健康升级"为主题，深入研讨了供给端营养型农产品、营养健康食品产 业发展痛点问题、消费端大健康产业发展模式与路径。 为打通从农业生产、食品加工、食物消费到营养健康管理的全产业链条，中国农业科技国际交流协会食 物营养与大健康分会应运而生。大会选举产生了食物营养与大健康分会第一届理事会，农业农村部食物 与营养发展研究所党委书记、副所长王晓举当选为食物营养与大健康分会首任会长。 中国农业科学院副院长叶玉江在说，分会的成立是顺应农业高质量发展和国民健康需求升级的必然之 举，对整合跨界资源、推动科技创新与产业实践深度融合具有里程碑意义。希望分会能成为连接"田间 地头"与"百姓餐桌"、贯通"科学研究"与"市场应用"的关键桥梁。 中国农业科技国际交流协会会长冯忠武说，分会将聚焦农产品营养品质提升、食品营养健康导向的产业 转型、居民膳食结构优化改善等核心任务，为政府决策提供支撑，为产业发展注入动能，为公众健康提 供指引。 国家食物与营养咨询委员会主任、中国农业科学院原党组书记陈萌山围绕贯彻落实《中国 ...

Core Insights - The establishment of the "CIFST-SIRIO Nutrition, Health & Food Technology Innovation Fund" aims to support cutting-edge research in the nutrition and health sector, responding to the industry's shift towards technology and precision [1][4] Group 1: Fund Overview - The fund was jointly established by the Chinese Institute of Food Science and Technology and Xianle Health, focusing on innovative research projects in nutrition and health [1] - The fund will release and approve projects in batches over three years, promoting the development and transformation of advanced technologies in the nutrition and health food sector [4] Group 2: Research Projects - Eleven innovative research projects were selected from various prestigious institutions, focusing on core challenges in the nutrition and health field [1] - The selected projects cover three main directions: - Enhanced delivery of functional factors, focusing on the efficient delivery and stabilization of water-soluble and oil-soluble functional factors [3] - Mechanisms of nutrition and health, exploring the role of next-generation probiotics, Akkermansia (AKK), in gut health, glucose and lipid metabolism, and cognitive improvement [3] - Precision interventions for aging, addressing health needs in an aging society through studies on skin aging and chronic inflammation, integrating natural components with AI screening technology [3] Group 3: Company Background - Xianle Health, established in 1993, is a globally recognized contract development and manufacturing organization (CDMO) in the nutrition and health food sector, providing comprehensive solutions including research, product development, manufacturing, packaging, logistics, and marketing support [5] - The company was listed on the Shenzhen Stock Exchange in 2019, becoming the first A-share listed CDMO in the nutrition and health food industry [5]

Core Viewpoint - The article highlights the significant growth and strategic evolution of the American essential oil company, doTERRA, at the China International Import Expo (CIIE), showcasing how it has leveraged this platform for market penetration, localization, and innovation in China [1][22]. Group 1: Company Growth at CIIE - doTERRA's participation in the CIIE has evolved from a modest 9 square meter booth in its first year to a substantial 300 square meter open experience space, reflecting its growing confidence and commitment to the Chinese market [3][4][12]. - The company has seen a dramatic increase in order values, from 380 million RMB in its first year to 1 billion RMB in recent years, indicating a robust demand for its products in China [8][20]. - The introduction of new essential oil products at the expo has been successful, with several items selling out within days of their launch, demonstrating the strong market response [9][19]. Group 2: Strategic Localization and Innovation - doTERRA established its first overseas research and development center in Shanghai, aimed at accelerating product testing and development, which was inspired by the opportunities identified at the CIIE [12][13]. - The company has integrated local resources into its supply chain, exemplified by its collaboration with local suppliers for raw materials, enhancing its operational efficiency and responsiveness to market demands [11][13]. - The design of doTERRA's flagship store in Shanghai reflects the branding and experience established at the CIIE, indicating a long-term commitment to the Chinese market [13]. Group 3: Cross-Industry Collaboration - At the eighth CIIE, doTERRA launched a new mugwort essential oil product, which not only represents a new product line but also illustrates the integration of ecological and economic values in its business model [15][19]. - The company has partnered with Xianle Health, a well-established player in the health food sector, to develop innovative nutritional products that incorporate essential oils, marking a significant step in expanding the application of essential oils [17][19]. - This collaboration aims to transform essential oils from niche products into mainstream health consumer goods, thereby unlocking new market potential [19][20]. Group 4: Impact on SMEs and Market Dynamics - doTERRA's journey at the CIIE exemplifies how the expo serves as a fair and efficient platform for global SMEs, providing them with opportunities to showcase their capabilities and access the Chinese market [20][21]. - The success of doTERRA has garnered attention and support from its global headquarters, highlighting the expo's role in enhancing brand recognition and strategic focus for participating companies [20][21]. - The CIIE has become a critical component of doTERRA's global strategy, serving as a venue for product launches, order generation, and fostering strategic partnerships [21][22].

Core Insights - Xianle Health showcased its commitment to the nutrition and health sector by participating in the 8th China International Import Expo, marking its fifth appearance at this national-level exhibition [2] - The company launched the WELMAX evidence-based nutrition technology platform, aimed at addressing the trust crisis and homogenization issues in the nutrition health food industry, redefining the standards of "effectiveness" [2] - Xianle Health's General Manager emphasized the importance of the expo as a platform for global cooperation and industry innovation, highlighting the company's strategic focus on evidence-driven development [2] Industry Developments - Xianle Health announced collaborations with authoritative organizations to initiate two key standard projects: a white paper on "Scientific Evidence and Grading of Health Benefits of Foods and Ingredients" in partnership with the Chinese Nutrition Society, and a group standard for "DHA Algal Oil Nutritional Product Formulation Design and Production Processing Technology Guidelines" in collaboration with the China Standardization Research Institute and the China Nutrition Health Food Association [3] - Established in 1993, Xianle Health is a globally recognized contract R&D manufacturer in the nutrition health food sector, providing comprehensive solutions including research, product development, manufacturing, packaging, logistics, and marketing support [3] - The company went public on the Shenzhen Stock Exchange's Growth Enterprise Market in 2019, becoming the first A-share listed CDMO enterprise in the nutrition health food industry [3]

Core Insights - dōTERRA has launched a new product, the mugwort essential oil, at the China International Import Expo (CIIE), marking a significant expansion of its product line into the edible oil sector through a strategic partnership with Xianle Health [3][6] - The company has experienced substantial growth in China since its first participation in CIIE, evolving from a small 9-square-meter booth to a 300-square-meter presence, reflecting its increasing market acceptance and success [9][10] Product Launch and Innovation - The mugwort essential oil is derived from traditional Chinese herbal practices and is designed to meet the needs of Chinese consumers, showcasing dōTERRA's commitment to local innovation [5][6] - The new product is part of a broader strategy to incorporate traditional Chinese herbs into modern essential oil applications, enhancing the company's product matrix [5][6] Strategic Partnerships - dōTERRA signed a strategic cooperation agreement with Xianle Health, leveraging Xianle's expertise in nutritional health products to develop innovative edible essential oil products [6][11] - The collaboration aims to create functional gummies and oral liquids that combine high-quality essential oils with nutritional benefits, targeting the health-conscious Chinese consumer [6][11] Market Growth and Development - Since its inception in China, dōTERRA has seen a dramatic increase in order volumes, with initial orders from the first CIIE reaching 3.8 billion yuan, and subsequent years showing continued growth in both booth size and order amounts [9][10] - The establishment of a research and development center in Shanghai has allowed dōTERRA to expedite the product development process, enhancing its ability to respond to local market demands [10] Future Outlook - dōTERRA views CIIE as a vital platform for engaging with the Chinese market, emphasizing its role in fostering new ideas and collaborations [11] - The company advocates for the establishment of a small and medium-sized enterprise alliance at CIIE to support other businesses in finding opportunities for growth [11]

Core Insights - The 10th China Special Food Conference included the China Nutrition and Health Food Academic Forum and the 5th Functional Food and Nutrition Health Conference, held successfully in Xi'an on October 24 [1][3] - The conference aims to gather insights from academia and industry, focusing on cutting-edge technology, policy direction, and market trends to explore effective paths for high-quality development in China's nutrition and health food industry [3] Group 1: Industry Development - The conference has been successfully held for four years since its inception in 2021, indicating a growing interest and commitment to the functional food sector [3] - The Shaanxi Provincial Market Supervision Bureau emphasizes the integration of traditional health wisdom with the special food industry, leveraging the region's rich ecological resources for high-quality industry development [4] - The functional food industry in China is evolving towards natural, youthful, and standardized products, addressing safety and functional evaluation issues while integrating AI to meet personalized consumer demands [6] Group 2: Technological Innovations - Emerging technologies such as artificial intelligence and big data are becoming essential in the nutrition and health industry, with a focus on original innovation to enhance research and transformation [5] - The development of marine health foods is highlighted, utilizing rich functional materials from the ocean, including polysaccharides, active lipids, and proteins [6] - The concept of "food as medicine" is gaining traction, with a focus on enhancing standardization, regional characteristics, and basic research to expand application scenarios [7] Group 3: Research and Collaboration - The conference promotes collaboration among industry associations, academia, and enterprises to create a synergistic ecosystem for innovation and research application [4] - The potential of natural ingredients and stem cell regeneration is explored, with specific natural components showing promise in nutritional interventions for stem cell regeneration [7]

Investment Rating - The report does not explicitly provide an investment rating for the nutrition and health industry Core Insights - The nutrition and health food industry is rapidly growing due to increased consumer health awareness and rising disposable incomes, with a market size projected to grow from 1,038.03 billion RMB in 2019 to 1,376.58 billion RMB in 2024, reflecting a CAGR of 5.81% [9] - The industry is characterized by high gross margins, driven by the combination of fast-moving consumer goods attributes and pharmaceutical barriers, allowing brands to maintain high pricing power [5][10] - The demand for high-quality products is expected to continue growing, leading to an expansion of market share for premium offerings [5] Market Background - Nutrition health foods are categorized into health foods and functional foods, with health foods requiring certification and a "blue hat" mark, while functional foods are managed as regular foods [6] - The industry has evolved from a disorganized state to a regulated one, driven by policy guidance, technological innovation, and demand upgrades [7] - The COVID-19 pandemic has heightened health awareness among younger consumers, leading to a surge in demand for functional foods and beverages [8] Market Status - The market size is expected to grow from 1,444.28 billion RMB in 2025 to 1,821.34 billion RMB in 2029, with a CAGR of 5.97% [9] - The aging population and the rising incidence of chronic diseases are driving consumers to seek preventive health management solutions [9][12] - The market is characterized by a high concentration of top brands, with gross margins for self-owned brands in the nutrition health sector exceeding 45% [10] Market Competition - The competition in the nutrition health food market is fragmented, with many companies focusing on specific niches, leading to a low market concentration [16] - Top companies like Xianle Health and Tongrentang dominate the market due to their significant number of approved health food products [16] - The rise of e-commerce has transformed sales channels, with platforms like Douyin and Kuaishou becoming crucial for consumer education and product sales [17][18] Development Trends - The industry is witnessing diversification in product forms, with innovations in flavors and convenience, such as ready-to-eat formats [31] - Consumer trends indicate a shift towards daily health maintenance, with increasing frequency of product use among consumers [32] - There is a notable difference in advantages and disadvantages for pharmaceutical companies and regular food companies entering the nutrition health market, with pharmaceutical firms benefiting from brand trust and funding, while food companies leverage their customer base and rapid product iteration capabilities [34]

Core Viewpoint - The company reported a mixed performance in its 2025 H1 results, with revenue growth but a decline in net profit, indicating challenges in its self-owned brand segment while the contract manufacturing business showed strong growth [1][2][3]. Financial Performance - In 2025 H1, the company achieved revenue of 420 million yuan, a year-on-year increase of 2.06%, and a net profit attributable to shareholders of 72 million yuan, a year-on-year decrease of 13.37% [1]. - For Q2 2025, revenue was 213 million yuan, down 4.44% year-on-year, with a net profit of 37 million yuan, down 23.79% year-on-year [1]. Business Segments - The contract manufacturing business saw double-digit growth, with revenue of 366 million yuan in H1 2025, up 10.71% year-on-year, while the self-owned brand business generated 52 million yuan, down 33.61% year-on-year [2]. - In terms of product types, functional beverages grew by 18.41% to 120 million yuan, while soft capsules declined by 6.03% to 151 million yuan. Other forms like powders and tablets showed varied performance, with powders up 35.99% and tablets down 20.11% [2]. Geographic Performance - Revenue from domestic operations was 379 million yuan, down 1.73% year-on-year, while international revenue reached 39 million yuan, up 66.43% year-on-year [3]. Profitability Metrics - The gross margin for H1 2025 was 36.22%, a decrease of 3.28 percentage points year-on-year, and the net profit margin was 17.10%, down 3.04 percentage points year-on-year [3]. - The company experienced increased management expenses, attributed to strategic transformation efforts [3]. Strategic Developments - The acquisition of a 56% stake in New Zealand's Ora factory was completed, with expectations for significant revenue contributions in 2025, as the factory reported strong growth in 2024 [4]. - The company launched a new brand focused on "food and medicine homology," targeting specific nutritional needs of Asian consumers, and plans to leverage cross-border cooperation for competitive advantage in domestic pharmacy channels [5]. Future Outlook - The company anticipates revenue growth driven by its contract manufacturing business and expects contributions from cross-border and pet-related businesses in the future [5]. - Projections for 2025-2027 indicate revenues of 1.117 billion, 1.286 billion, and 1.446 billion yuan, with net profits of 169 million, 205 million, and 236 million yuan respectively, reflecting a positive growth trajectory [5].

Group 1 - The global nutrition and health food industry is currently facing a challenging period of uncertainty, driven by both consumer upgrades and heightened health awareness, alongside stricter regulatory policies and intensified competition [1] - Xianle Health positions itself as a key player navigating through these challenges by focusing on innovation as a core driver to empower global clients in market expansion [1][2] Group 2 - Xianle Health's innovation practices are based on continuous analysis and understanding of market dynamics and consumer demands, recognizing the significant growth potential in the Chinese nutrition and health food market [2] - The company aims to convert market insights into specific solutions through segmented market strategies and product innovation models, supporting partners in business growth amid changing market conditions [2] Group 3 - Technological research and development are crucial for product differentiation and meeting market demands, with Xianle Health focusing on three dimensions: technology, market segments, and quality [3] - The company invests resources to expand the application and depth of technology, ensuring that innovations address specific health pain points for targeted consumer groups [3] Group 4 - Xianle Health emphasizes collaboration to enhance core product capabilities, utilizing its technical strengths to support partners in creating value through insights, R&D, and global supply chain delivery [4] - The company has received recognition for its contributions to the industry, including awards for excellence in health food CDMO leadership [4] Group 5 - The value of Xianle Health's innovation practices extends beyond client empowerment to fostering overall healthy development in the nutrition and health food industry [5] - The company actively builds industry dialogue platforms to explore innovative paths and market breakthroughs, aiming to drive the industry towards a more regulated and sustainable future [5] - Xianle Health plans to deepen technological applications and collaborate with industry stakeholders to evolve the nutrition and health food sector to better meet consumer needs [5]

Core Viewpoint - The company, 技源集团, is utilizing raised funds to increase capital or provide loans to its wholly-owned subsidiary, 启东技源, for the implementation of investment projects, ensuring compliance with regulatory requirements and safeguarding the interests of the company and its shareholders [1][5][6] Fundraising Overview - The company has successfully issued 50.01 million shares at a price of 10.88 RMB per share, raising a total of 544.11 million RMB, with a net amount of 479.82 million RMB after deducting issuance costs of 64.29 million RMB [1][2] - The total investment for the projects funded by the raised capital is 602.73 million RMB, with the adjusted amount for the projects being 479.82 million RMB [2] Investment Project Details - The funds will be allocated to two main projects: the expansion of the nutrition and health food production line and the establishment of a technology innovation center, both managed by the subsidiary 启东技源 [2][3] - A total of 147.31 million RMB from the raised funds will be used for these projects, with the loan terms being flexible based on the actual needs of the projects [2][5] Subsidiary Information - 启东技源 is a wholly-owned subsidiary of the company, with a registered capital of 212.65 million RMB and a business scope that includes health food production and sales [3][4] - Recent financial data shows total assets of 344.98 million RMB, total liabilities of 56.37 million RMB, and net assets of 288.61 million RMB, with a revenue of 240.33 million RMB and a net profit of 32.78 million RMB [4] Impact on the Company - The use of raised funds for the subsidiary is aligned with the company's long-term strategic goals and ensures the smooth implementation of investment projects, maintaining control over financial risks [5][6] - The company has established a four-party supervision agreement to ensure the safe management of the raised funds, complying with relevant regulations [5][6] Approval Process - The board of directors and the supervisory board have approved the use of raised funds for the subsidiary, confirming that the process adheres to necessary approval protocols without requiring shareholder meeting approval [5][6] - The supervisory board has expressed that the funding allocation does not alter the intended use of the raised funds and does not harm the interests of the company or its shareholders [5][6]