Core Viewpoint - The "three giants" of the marinated food industry are collectively facing revenue decline in the first half of 2025, indicating overall industry pressure. Despite efforts to stabilize profits through store reductions and cost control, the main business growth remains weak [1] Group 1: Revenue and Profit Trends - The marinated food market showed signs of weakness in the first half of this year, with major players like Juewei Food experiencing a 15.57% year-on-year decline in revenue to 2.82 billion yuan and a 40.71% drop in net profit to 175 million yuan [2] - Huangshanghuang reported a 7.19% decline in revenue to 984 million yuan, while net profit increased by 26.9% to 76.92 million yuan, attributed to cost-cutting measures despite a decline in main business segments [2] - Zhou Hei Ya's revenue decreased by 2.9% to 1.22 billion yuan, but net profit surged by 228% to 108 million yuan, driven by improved single-store operational efficiency [3] Group 2: Cost Control Measures - The decline in raw material prices has helped some marinated food companies maintain net profit levels. Huangshanghuang noted that the prices of key raw materials remained low, leading to a decrease in production costs and a 2.23 percentage point increase in gross profit margin for its marinated meat products [4] - The overall market dynamics indicate that the marinated food industry faces significant challenges due to decreased consumer willingness and confidence, alongside high prices and insufficient cost-performance ratios [4] Group 3: Strategic Shifts and New Ventures - The three giants are exploring new business avenues to sustain performance, with Zhou Hei Ya launching a coconut water brand and entering into partnerships for compound seasoning and convenience food products [5] - Huangshanghuang is investing 495 million yuan to acquire a 51% stake in a freeze-dried food company, aiming to enter the freeze-dried food market [5][6] - Juewei Food has opened a new "Juewei Plus" store in Changsha, venturing into the casual dining sector with a diverse product offering [7]