Core Viewpoint - Anjoy Foods Group Co., Ltd. reported a slight increase in revenue but a significant decline in net profit for the first half of 2025, indicating challenges in maintaining profitability amidst rising costs and market competition [2][3]. Financial Performance - Revenue for the first half of 2025 reached approximately RMB 7.60 billion, a 0.80% increase compared to RMB 7.54 billion in the same period last year [3]. - Total profit decreased by 16.51% to RMB 886.31 million from RMB 1.06 billion year-on-year [3]. - Net profit attributable to shareholders fell by 15.79% to RMB 675.94 million from RMB 802.65 million [3]. - The net cash flow from operating activities was negative at RMB -162.92 million, a decline of 132% compared to the previous year [3]. - The company's net assets increased by 2.98% to RMB 13.34 billion, while total assets decreased by 1.65% to RMB 17.09 billion [3]. Industry Overview - The Chinese frozen food industry is projected to reach a market size of approximately RMB 221.2 billion in 2024, making it the second-largest frozen food market globally [3]. - The frozen prepared food segment is expected to grow at a compound annual growth rate (CAGR) of 7.1% from 2024 to 2029, driven by diverse dining preferences and increasing demand for quality products [3]. - The frozen dish segment is anticipated to grow at a CAGR of 16.1% during the same period, as industry standards improve and consumer demand for convenient, high-quality meals rises [3]. - The frozen noodle and rice products market is projected to reach RMB 77.1 billion in 2024, with traditional products maturing and new offerings gaining traction [3]. Business Operations - Anjoy Foods specializes in the research, production, and sales of frozen prepared foods, frozen dishes, and frozen noodle products, establishing a significant marketing network centered in East China [3][4]. - The company offers over 500 products, including fish tofu, fish balls, and various frozen dishes under multiple brands [4][5]. - The company has adopted a multi-brand strategy to cater to different market segments and enhance its product offerings [5]. Strategic Initiatives - Anjoy Foods is focusing on product innovation and market expansion, with a strategy to develop 3-5 strategic flagship products annually [5][13]. - The company is enhancing its supply chain efficiency through digitalization and AI integration, aiming to improve procurement, production, and sales processes [15][18]. - Recent acquisitions, including a 70% stake in Jiangsu Dingweitai Food Co., Ltd., are aimed at expanding into the frozen baking sector and enhancing product offerings [15][16]. Market Positioning - The company is actively pursuing opportunities in both domestic and international markets, with plans to leverage its recent Hong Kong listing to expand its global footprint [16]. - Anjoy Foods is adapting to changing consumer preferences by focusing on high-quality, customized products and enhancing its online and offline sales channels [12][14].

承董事會命 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或因倚 賴該等內容而引致的任何損失承擔任何責任。 ANJOY FOODS GROUP CO., LTD. 安井食品集團股份有限公司 （於中華人民共和國註冊成立的股份有限公司） （股份代號：2648） 本公告乃根據《香港聯合交易所有限公司證券上市規則》第13.10B條而作出。 茲 載 列 安 井 食 品 集 團 股 份 有 限 公 司（「 本公司 」）在 上 海 證 券 交 易 所 網 站 ( www.sse.com.cn )刊登的本公司2025年半年度報告（A股），僅供參閱。 安井食品集團股份有限公司 董事長兼執行董事 劉鳴鳴先生 中國廈門，2025年8月25日 於本公告日期，本公司董事會成員包括：(i)執行董事劉鳴鳴先生、張清苗先生、 章高路先生及黃建聯先生；(ii)非執行董事鄭亞南博士及戴凡先生；及(iii)獨立非 執行董事張梅女士、劉曉峰博士、趙蓓博士及張躍平先生。 公司代码：603345 公司简称：安井食品 2025 年半年度报告 ...