中式菜品调料

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天味食品涨2.13%,成交额7860.52万元,主力资金净流出548.51万元
Xin Lang Cai Jing· 2025-08-25 05:52
天味食品所属申万行业为:食品饮料-调味发酵品Ⅱ-调味发酵品Ⅲ。所属概念板块包括:调味品、高派 息、融资融券、中盘、增持回购等。 8月25日,天味食品盘中上涨2.13%,截至13:11,报12.48元/股,成交7860.52万元,换手率0.60%,总市 值132.91亿元。 资金流向方面,主力资金净流出548.51万元,特大单买入0.00元,占比0.00%,卖出531.54万元,占比 6.76%;大单买入819.88万元,占比10.43%,卖出836.85万元,占比10.65%。 天味食品今年以来股价跌2.43%,近5个交易日涨3.74%,近20日涨9.09%,近60日涨8.71%。 资料显示,四川天味食品集团股份有限公司位于四川省成都市双流区西航港街道腾飞一路333号,成立 日期2007年3月2日,上市日期2019年4月16日,公司主营业务涉及川味复合调味料的研发、生产和销 售。主营业务收入构成为:中式菜品调料50.94%,火锅调料36.39%,香肠腊肉调料9.46%,其他 3.04%,其他(补充)0.17%。 截至3月31日,天味食品股东户数3.10万,较上期减少1.97%;人均流通股34338股,较上期增 ...
剑指“A+H”,火锅调料企业天味食品拟赴港上市 能否破解增长难题?
Mei Ri Jing Ji Xin Wen· 2025-08-22 13:15
Core Viewpoint - Tianwei Food is planning to issue H-shares and apply for listing on the Hong Kong Stock Exchange, despite recent declines in revenue and net profit [1][4]. Group 1: Company Overview - Tianwei Food specializes in the research, production, and sales of compound condiments, offering over 100 varieties including hot pot seasonings and sauces under major brands like "Haorenjia" and "Dahongpao" [2]. - The company previously attempted to issue Global Depositary Receipts (GDR) for listing on the Swiss Stock Exchange, which was terminated in September 2023 due to changes in internal and external conditions [2][4]. Group 2: Financial Performance - In Q1 of the current year, Tianwei Food reported a revenue of 642 million yuan, a year-on-year decrease of 24.8%, and a net profit of 74.73 million yuan, down 57.53% year-on-year [4]. - The decline in net profit is attributed to decreased sales, influenced by intensified industry competition and the timing of the Spring Festival [4]. Group 3: Market Context - The current move to list in Hong Kong aligns with a trend of consumer companies going public, as seen with other beverage brands like Guming and Mixue Ice City [3]. - Tianwei Food aims to leverage the international advantages of the Hong Kong market to enhance its global strategy and expand overseas operations, with products already sold in over 50 countries [4]. Group 4: Industry Dynamics - The performance of peer companies, such as Haitian Flavoring and Food Co., which recently listed in Hong Kong, may impact the pricing of Tianwei Food's H-share issuance [5].
天味食品,筹划H股上市
Zhong Guo Zheng Quan Bao· 2025-08-22 04:45
Core Viewpoint - The company is preparing for the issuance and listing of H-shares to enhance its international strategy and optimize its capital structure, aiming for long-term development and increased brand recognition in international markets [2]. Group 1: Company Overview - The company focuses on the research, production, and sales of compound seasonings, offering over 100 varieties including hot pot seasonings, Chinese dish seasonings, sausage and cured meat seasonings, and spicy sauces under six major brands [2]. - The company leverages its R&D advantages to provide customized products for domestic chain restaurants, meeting their needs for standardization, food safety, and flavor stability [2]. Group 2: Financial Performance - In 2024, the company achieved a revenue of approximately 3.476 billion yuan, representing a year-on-year growth of 10.41%, and a net profit attributable to shareholders of about 625 million yuan, with a year-on-year increase of 36.77% [3]. - In the first quarter of 2025, the company reported a revenue of approximately 642 million yuan, a year-on-year decline of 24.80%, and a net profit attributable to shareholders of about 74.73 million yuan, down 57.53% year-on-year [4]. Group 3: Business Strategy - The company maintains its focus on a big product strategy while enhancing its product matrix, aiming to develop healthier and more nutritious products [4]. - In a highly competitive hot pot market, the company will adhere to its big product and product refinement strategy, focusing on themes of freshness and richness, and will continue to penetrate high-quality consumer segments [4]. - The company plans to develop a core line of big products while also creating regionally flavored seasoning series to meet the evolving consumer demand for compound seasonings [4].
天味食品拟赴港二次上市:董事长邓文夫妇合计持股67%,妻子唐璐拥有美国永居权
Sou Hu Cai Jing· 2025-08-22 00:53
瑞财经 刘治颖 8月20日,天味食品(SH603317)公告,公司为进一步推进公司国际化战略与海外业务布局规划,提升品牌国际化认知与影响力,同时更好地利 用国际资本市场平台,优化资本结构,助力公司长远发展,正在筹划发行境外上市股份(H 股)并申请在香港联交所主板挂牌上市。 截至目前,公司正积极与相关中介机构就本次发行H 股并上市的相关工作进行筹备、商讨,关于本次发行 H 股并上市的细节尚未确定。本次发行H股并上市 能否通过审议、备案和审核程序并最终实施具有重大不确定性。 天味食品成立于2007年,专注于复合调味料的研发、生产和销售。公司产品包括火锅调料、中式菜品调料、香肠腊肉调料、香辣酱等100 多个品种(不含餐 饮定制产品),主要品牌包括"好人家""大红袍""天车""天味食品餐饮高端定制""拾翠坊""加点滋味"六大品牌,主要用于家庭、餐饮的烹调,满足消费者对 烹调风味多样性和便捷性的追求。 2022年至2024年,天味食品营业收入分别为26.91亿元、31.49亿元、34.76亿元,归母净利润分别为3.42亿元、4.57亿元、6.25亿元。 2025年一季度,天味食品营业收入6.42亿元,同比减少24.8% ...
川系调味品“一哥”增速放缓,天味食品启动赴港上市,60后四川老板在海外找增量
Sou Hu Cai Jing· 2025-08-21 23:29
Core Viewpoint - Tianwei Food is planning to issue H-shares and list on the Hong Kong Stock Exchange to enhance its international strategy and optimize its capital structure, although the details and feasibility of this plan remain uncertain [1][4]. Company Overview - Tianwei Food, founded by Deng Wen in Chengdu, Sichuan, is a well-known brand in the Sichuan seasoning industry, focusing on the research, production, and sales of compound seasonings [3]. - The company's product range includes hot pot seasonings, Chinese dish seasonings, sausage and cured meat seasonings, and spicy sauces, with major brands such as "Hao Ren Jia," "Da Hong Pao," "Tian Che," "Tianwei Food Catering High-end Customization," "Shi Cui Fang," and "Jia Dian Zi Wei" [3]. Financial Performance - Tianwei Food's revenue grew from 1.727 billion yuan in 2019 to 3.149 billion yuan in 2023, marking an increase of 82.33% over four years [4]. - In 2024, the company achieved revenue of 3.476 billion yuan, with a growth rate of approximately 10.40%, a significant decline compared to previous years [6]. - The revenue growth rates for the core business segments, hot pot seasonings and Chinese dish seasonings, have also slowed down, with 2024 growth rates of 3.53% and 16.56%, respectively [6]. Market Competition - The seasoning industry is facing intensified competition, particularly in the compound seasoning segment, which has seen rapid growth due to changing consumer preferences [8][9]. - Major competitors like Haitian Flavoring and Zhongju Gaoxin have launched similar products, impacting Tianwei Food's market share [9]. Strategic Adjustments - To address the competitive landscape, Tianwei Food is adjusting its channel strategy and considering mergers and acquisitions [10]. - The company has implemented a "choose one" policy among distributors to limit competition with brands like Qianhe Flavoring and Jixiangju [11]. - Additionally, Tianwei Food has invested in acquiring stakes in leading brands in the B-end restaurant compound seasoning market, such as acquiring 55% of the parent company of "Shi Cui Fang" for 362 million yuan and 63.84% of the parent company of "Jia Dian Zi Wei" for 154 million yuan [12].
天味食品股价上涨0.93% 盘中快速反弹成交额达2.34亿元
Jin Rong Jie· 2025-08-15 19:58
Group 1 - The latest stock price of Tianwei Foods is 11.93 yuan, an increase of 0.11 yuan from the previous trading day, with a trading range of 4.48% [1] - The stock reached a maximum of 12.09 yuan and a minimum of 11.56 yuan during the trading session, with a trading volume of 198,200 hands and a transaction amount of 234 million yuan [1] - On August 15, the stock experienced a rapid rebound around 11:15 AM, with a rise of over 2% within 5 minutes and a transaction amount of 107 million yuan at that time [1] Group 2 - Tianwei Foods operates in the food and beverage industry, focusing on the research, production, and sales of Sichuan-style compound seasonings [1] - The company's product offerings include hot pot base, Chinese dish seasonings, and sausage and cured meat seasonings [1] - As of the market close, the net inflow of main funds was 4.82 million yuan, with a cumulative net inflow of 31.32 million yuan over the past five trading days [1]
涪陵榨菜突围:提价和渠道扩张未能阻止业绩下滑 外延式并购是第二增长曲线吗?
Xin Lang Zheng Quan· 2025-06-04 07:03
Core Viewpoint - Fuling Pickle is attempting to revitalize its business through an acquisition of a 51% stake in Sichuan Weizimei Food Technology Co., Ltd, as the company has faced a significant decline in stock price and performance over recent years [1][2][3] Group 1: Acquisition Details - The acquisition involves issuing shares and cash to purchase Weizimei, which specializes in the development, production, and sales of Sichuan-style compound seasonings and prepared dishes [1][2] - Weizimei has established C-end product development capabilities but struggles with B-end operations and scaling, which limits its ability to quickly integrate resources for C-end sales channels [2][3] - The acquisition is part of Fuling Pickle's strategy to leverage Weizimei's resources to enhance its own C-end distribution network and expand into new markets [2][3] Group 2: Financial Performance - Weizimei reported a revenue of 265 million yuan and a net profit of approximately 39.62 million yuan in 2024, reflecting a year-on-year decline of 6.69% and 2.67% respectively [3] - Fuling Pickle's stock price has dropped over 60% since February 2021, indicating a prolonged period of underperformance [1] - The company's net profit margin is currently 33%, significantly higher than Weizimei's 15%, suggesting that the acquisition could dilute Fuling Pickle's profitability [3] Group 3: Strategic Challenges - Fuling Pickle has faced declining sales and revenue, with a 12.61% drop in sales volume in 2022 and a continued downward trend in subsequent years [4][5] - The company has struggled with market expansion strategies, particularly in lower-tier cities, leading to issues with distributor management and market saturation [5] - A dual strategy of "internal growth + external mergers" has been proposed to address these challenges, focusing on new product development and expanding into emerging channels [5][6] Group 4: Operational Issues - Fuling Pickle's production capacity has fluctuated, with a significant drop from 25.63 million tons in 2023 to around 15 million tons in 2024, while actual production was only 11.36 million tons [6] - The company has invested heavily in a green intelligent production base, but progress has been slow, with only 12.59% completion as of 2024 [6] - The reliance on interest income from unutilized funds has become a significant profit source, raising concerns about the company's operational efficiency and future growth potential [6]
涪陵榨菜(002507):25Q1略承压,并购项目或望落地
Tianfeng Securities· 2025-05-20 00:11
Investment Rating - The report maintains a "Buy" rating for the company, with a target price set at 13.26 CNY per share [5]. Core Views - The company reported a slight pressure in Q1 2025, achieving revenue and net profit of 713 million CNY and 272 million CNY respectively, with a year-on-year change of -4.75% and +0.24% [1]. - The main product, pickled vegetables, remains stable, with continuous product optimization and the introduction of new products such as stir-fried series [1]. - The company is pursuing an acquisition of a 51% stake in Weizimei, which is expected to create synergies and enhance its market position in the food sector [2]. - The company aims for a revenue growth of 6% annually from 2025 to 2027, with net profit growth projected at 9% in 2025 and 7% in the following years [3]. Financial Summary - Revenue for 2023 is projected at 2,449.85 million CNY, with a slight decline expected in 2024 before a recovery in 2025 to 2,540.51 million CNY [4]. - The net profit for 2023 is estimated at 826.58 million CNY, with a forecasted increase to 870.75 million CNY in 2025 [4]. - The company’s EBITDA is expected to grow from 981.32 million CNY in 2023 to 1,131.48 million CNY in 2025 [4]. - The projected P/E ratios for 2025, 2026, and 2027 are 17.57, 16.46, and 15.44 respectively, indicating a favorable valuation trend [4].
涪陵榨菜欲卖火锅底料 主业疲软第二增长曲线承压
Zhong Guo Jing Ying Bao· 2025-05-09 21:15
Core Viewpoint - Fuling Zhacai is planning to acquire 51% of Sichuan Weizimei Food Technology Co., Ltd. to enter the compound seasoning market, amid ongoing revenue and profit declines [1][5]. Financial Performance - Fuling Zhacai has experienced consecutive declines in revenue and net profit for two years, with 2023 revenue at 2.45 billion yuan, down 3.86% year-on-year, and net profit at 827 million yuan, down 8.04% [2]. - In 2024, revenue is projected to be 2.387 billion yuan, a decrease of 2.56%, with net profit expected to be 799 million yuan, down 3.29% [2]. - The company's flagship product, pickled mustard tuber, has also shown declining performance, with revenues dropping from 2.175 billion yuan in 2022 to 2.044 billion yuan in 2024 [2]. Market Challenges - The decline in performance is attributed to increased market competition, a single product structure overly reliant on pickled mustard tuber, changing consumer habits, and operational inefficiencies [3]. - The number of distributors has decreased significantly, particularly in the South China region, where it dropped by 58.41% [4]. Acquisition Details - The acquisition of Weizimei is aimed at leveraging both companies' strengths to enhance product offerings and distribution channels [5][10]. - Weizimei, established in 2018, has a total asset value of 203 million yuan and reported revenues of 284 million yuan in 2023 [6]. Strategic Implications - Post-acquisition, Fuling Zhacai aims to utilize Weizimei's established B-end resources to penetrate the restaurant market and expand its product sales [6][10]. - The transition to B-end business presents challenges, including the need for new sales channels and brand recognition [7]. Competitive Landscape - The compound seasoning market is highly competitive, with numerous local players, including Shentang and Weimanlong, posing significant challenges for differentiation [8][9]. - The market for hot pot base ingredients is projected to grow significantly, reaching 48 billion yuan in 2024 and potentially exceeding 100 billion yuan by 2029 [9].
天味食品股价暴跌 一季度核心品类收入下滑
Xin Lang Zheng Quan· 2025-04-30 09:38
Core Viewpoint - Tianwei Food, known as the "first stock of Sichuan-style hot pot ingredients," reported a shocking Q1 performance with a revenue decline of 24.8% to 642 million yuan and a net profit drop of 57.53% to 74.73 million yuan, leading to a significant stock price drop of nearly 19% over three trading days [1] Revenue Decline - The company's three core product categories experienced significant revenue declines in Q1 2025: hot pot base ingredients down 41.05%, seasonings down 12.24%, and sausage and cured meat seasonings plummeting 55.77% from 33.47 million yuan to 14.80 million yuan [2] - Seasonal products like hot pot base ingredients and sausage seasonings were hit hardest, while the decline in Chinese dish seasonings was partially offset by the contribution from the newly acquired "Jia Dian Zi Wei" brand [2] - Sales expenses only slightly decreased by 1.38%, indicating that the company did not cut marketing investments despite revenue drops, but rather adjusted its expense structure to focus on online content marketing and user operations, which increased short-term profit pressure [2] - Regionally, the traditional stronghold in the western market saw a revenue drop of 26.86%, while the northern region faced a 43.62% decline, with a net reduction in distributors leading to market loss [2] - Efforts to expand into eastern and southern markets yielded minimal results, with eastern revenue only increasing by 9.3%, insufficient to offset losses in the western and northern markets [2] - Notably, the previously strong southern and central regions also turned negative in Q1 2025 [2] Internal Control Issues - More critically, the company faced transparency issues in its financial reporting, as a correction notice revealed that the acquired "Jia Dian Zi Wei" and its subsidiaries were not included in the internal control evaluation, despite their asset and revenue contributions being minimal [3] - Following this, the internal control audit report changed from a "standard unqualified opinion" to an "unqualified opinion with emphasis of matter," highlighting internal control deficiencies [3] - In February, company executives disclosed a share reduction plan, intending to sell up to 1,381,118 shares, representing 0.1297% of the total share capital, raising concerns about management confidence [3] - The seasoning industry is currently facing dual pressures from weak consumer demand and intense competition, posing significant challenges for Tianwei Food as a leading player in the segment [3] - In this period of deep adjustment in the seasoning industry, cash flow health and channel control will be critical for the company's survival [3]