中经记者 党鹏 成都报道 数据显示，2021年至2024年，4年来加加食品已经亏损近6亿元，2025年前三季度仍处于亏损状态。与此 同时，公司创始人杨振一家三口因个人债务问题，也先后被列入失信名单，累计被执行金额近14亿元。 记者注意到，在2026年1月5日，加加食品发布公司"详式权益变动报告书之持续督导总结报告"，强调称 中国东方已持有公司总股本的23.42%，成为第一大股东。目前，加加食品的两位非独立董事为中国东 方提名人选。 "中国东方作为国资AMC（金融资产管理公司），具备规范的治理经验和资本运作能力。"著名食品营 销专家、龙品锡资本创始人王海宁认为，但中国东方的核心优势在于债务重组，缺乏调味品行业的品 牌、渠道、研发资源，难以带动企业经营能力提升；同时公司4年累计亏损近6亿元，加上经销商流失、 品牌口碑受损等问题难以短期扭转，资源注入后的效果显现需要时间，但市场耐心有限。 "酱油第一股"陷困局 2012年，加加食品成功上市，成为"中国酱油第一股"，市值破百亿元。当时，杨振以20亿元身家登上胡 润百富榜。 加加食品上市后，杨振家族通过湖南卓越投资有限公司（以下简称"湖南卓越"）持有公司超40%的股 份 ...

Core Insights - The company reported a significant improvement in its financial performance, with Q3 revenue reaching 276 million yuan, a year-on-year increase of 11.43%, and a reduction in net loss by approximately 12.1 million yuan compared to the same period last year [1] - For the first three quarters, the company's revenue was 1.009 billion yuan, remaining stable year-on-year, while net loss decreased by 73.34%, amounting to 18.0368 million yuan, a substantial reduction of nearly 50 million yuan compared to the previous year [1] - The improvement in performance is attributed to the company's commitment to product health and high-end transformation, aligning with China's "Healthy China 2030" strategy [1] Financial Performance - Q3 revenue: 276 million yuan, up 11.43% year-on-year [1] - Q3 net loss: 26.3886 million yuan, a reduction of approximately 12.1 million yuan from the previous year [1] - Year-to-date revenue: 1.009 billion yuan, stable compared to last year [1] - Year-to-date net loss: 18.0368 million yuan, down 73.34%, a reduction of nearly 50 million yuan from the previous year [1] Product Strategy - The company has been proactive in promoting a "reduced salt" strategy, launching a series of low-salt products such as low-salt soy sauce and organic low-salt options [1] - The company has developed core technology for reducing salt by over 35% while maintaining essential nutritional components, supported by four national invention patents [1] - Continuous investment in R&D has allowed the company to establish a comprehensive technological barrier covering strain selection, process innovation, preparation methods, and quality flavor [1] Market Development - The company is focusing on deepening the promotion of reduced salt products and creating flagship products in this category [2] - There is an ongoing adjustment of product structure, reducing SKU numbers to promote high-margin products [2] - The company is strengthening traditional channels while also expanding into e-commerce and industrial catering, enhancing overall sales capabilities through targeted market initiatives [2]

Core Insights - The company, 加加食品, reported a continued growth trend in its performance for the third quarter of 2025, with a revenue of 276 million yuan, representing a year-on-year increase of 11.43% [1] - The net profit attributable to shareholders was a loss of 26.39 million yuan, which is an improvement of approximately 12.1 million yuan compared to the same period last year [1] - For the first three quarters, the company achieved a revenue of 1.009 billion yuan, remaining stable compared to the previous year, while the net profit loss decreased significantly by 49 million yuan, showing a 73.34% improvement [1] Company Strategy - 加加食品's performance improvement is attributed to its commitment to product health and high-end transformation, aligning with China's "Healthy China 2030" strategy [1] - The company has been proactive in promoting a "reduced salt" concept since 2018, launching a series of low-salt products, including reduced salt soy sauce variants [1] - 加加食品 has developed core technology for physical salt reduction, achieving over 35% salt reduction while maintaining essential nutritional components [1] Product Development and Market Strategy - In 2023, 加加食品 continued to innovate around its "reduced salt strategy," launching new products such as "reduced salt pure brewed soy sauce" and "reduced salt organic soy sauce" [2] - The company is focusing on refining its product structure by reducing SKU numbers and promoting high-margin products [2] - 加加食品 is enhancing its sales capabilities through the development of new channels, including e-commerce and industrial catering, while solidifying traditional distribution channels [2] Corporate Governance - Recently, 加加食品 made significant adjustments at the board level, completing the election of two non-independent directors and one independent director [2] - The board changes were approved during the second extraordinary general meeting of shareholders held on September 16, with two directors recommended by the largest shareholder, 东方资产, successfully elected [2]