桃李面包致歉。 公开资料显示，桃李面包于2015年在A股市场上市，公司是国内知名的"中央工厂+批发"式烘焙食品生 产企业。公司主要产品为"桃李"品牌面包，此外，公司还生产月饼等产品，主要是针对传统节假日开发 的节日食品。 上半年，公司实现营业收入为26.11亿元，较上年同期下降13.55%；公司营业利润和利润总额分别为 2.66亿元和2.72亿元，分别较上年同期下降27.42%和27.00%。 近日，桃李面包投放的五仁口味蛋月烧电梯广告文案引发争议。 上半年，公司归属于上市公司股东的扣除非经常性损益的净利润及扣除非经常性损益后的基本每股收益 同比下降30.03%，公司表示，主要是由于部分新建项目投产后折旧费用同比增加导致本期毛利率下降 以及本期广告及宣传费用增加所致。 今日（9月5日），桃李面包致歉称："我们文案翻车了，确实是领导拍的板，这个锅只能他来背。在此 鞠躬道歉，他现在正在接受'现实毒打'。从今天起，后续宣发正式由我们年轻人接管！" 据多家媒体此前报道，桃李面包此前投放的广告文案为"有人说五仁不好吃，我们认为：那是因为你还 年轻，还没饱尝过生活的毒打"。消息引发热议后，9月4日，桃李面包官方客服人员回 ...

桃李面包致歉。 近日，桃李面包投放的五仁口味蛋月烧电梯广告文案引发争议。 今日（9月5日），桃李面包致歉称："我们文案翻车了，确实是领导拍的板，这个锅只能他来背。在此鞠 躬道歉，他现在正在接受'现实毒打'。从今天起，后续宣发正式由我们年轻人接管！" 据多家媒体此前报道，桃李面包此前投放的广告文案为"有人说五仁不好吃，我们认为：那是因为你还年 轻，还没饱尝过生活的毒打"。消息引发热议后，9月4日，桃李面包官方客服人员回应南都记者称，"目前 已经将这个广告陆续下架了。" 涉事广告 公开资料显示，桃李面包于2015年在A股市场上市，公司是国内知名的"中央工厂+批发"式烘焙食品生产 企业。公司主要产品为"桃李"品牌面包，此外，公司还生产月饼等产品，主要是针对传统节假日开发的节 日食品。 综合自：南方都市报、公司公告、桃李面包微博 责编：万健祎 校对： 赵燕 版权声明 证券时报各平台所有原创内容，未经书面授权，任何单位及个人不得转载。我社保留追 究相关 行 为主体 法律责任的权利。 转载与合作可联系证券时报小助理，微信ID：SecuritiesTimes END 点击关键字可查看 潜望系列深度报道丨 股事会专栏 丨 投 ...

Core Viewpoint - The financial performance of Tao Li Bread, known as the "first bread stock" in A-shares, has significantly declined in the first half of the year, with both revenue and profit decreasing, indicating pressure on the company's operations [2]. Financial Performance - In the first half of the year, the company achieved revenue of 2.611 billion yuan, a year-on-year decrease of 13.55% [2]. - The net profit attributable to shareholders was 204 million yuan, down 29.7% year-on-year [2]. - The gross profit margin for the period was 22.98%, a decrease of 1.17 percentage points compared to the previous year, while the net profit margin fell from 9.6% to 7.81% [2]. Market Competition - The short-shelf-life bread market has become increasingly competitive, with companies like Dali Foods and Man Keton expanding their market presence through low pricing and multi-channel strategies [6]. - The company's sales performance has been adversely affected, with total revenue from bread and pastries at 2.585 billion yuan, compared to 2.985 billion yuan in the same period of 2024 [6]. Regional Performance - Revenue in key regions such as Northeast, North China, East China, Southwest, Northwest, and South China all experienced year-on-year declines, with only the Central China region showing growth due to successful partnerships with volume retailers [6][7]. - The Northeast region, which is the company's main market, generated 1.044 billion yuan in revenue, accounting for about 40% of total revenue, but still saw a decline of over 9% year-on-year [7]. Advertising and Promotion - Despite increasing advertising and promotional expenses to 42.96 million yuan, a rise of over 40% from the previous year, the company did not achieve corresponding sales growth, which further eroded profit margins [7]. Distribution Network - The company experienced fluctuations in its distributor network, with a net decrease of 9 distributors, bringing the total to 971 by the end of June [8]. Production Capacity - As of the end of June, the company had 24 production bases with a total capacity of 225,900 tons, but the actual production was only 142,400 tons, resulting in a capacity utilization rate of approximately 63%, down from 69.8% the previous year [9]. - The company is also in the process of expanding capacity with two additional production bases, which will add 99,000 tons of capacity [10]. Food Safety Issues - The company has faced multiple food safety issues, which have negatively impacted consumer trust in the brand [12][17]. - In July, the company issued an apology due to a batch of products failing quality inspections, highlighting ongoing concerns about food safety [13][14].

Core Viewpoint - The performance of the company, Tao Li Bread, has significantly declined in the first half of 2025, with revenue and net profit both experiencing substantial year-on-year decreases, raising concerns among over 60,000 shareholders [1][12]. Financial Performance - In the first half of 2025, the company reported a revenue of approximately 2.611 billion yuan, a year-on-year decline of 13.55% [3]. - The net profit attributable to shareholders was about 204 million yuan, down 29.7% year-on-year [3]. - The net profit after excluding non-recurring gains and losses was approximately 194 million yuan, reflecting a 30.03% decrease compared to the previous year [3]. Cost and Expense Analysis - The decline in net profit is attributed to increased depreciation expenses from newly established projects and rising advertising and promotional costs [4]. - Advertising and promotional expenses increased to approximately 429 million yuan, up from about 306 million yuan in the previous year [9]. Market Competition and Challenges - The industry is facing intensified competition, leading to market share erosion, increased promotional expenses, and pressure on profit margins [2][8]. - The company has seen a reduction in the total number of distributors, with a net decrease of 9 distributors compared to the previous year, totaling 971 [6][7]. Regional Performance - Revenue in various regions, including North China, Northeast, East China, Southwest, Northwest, and South China, has declined year-on-year, with only Central China showing growth [5]. Food Safety Issues - The company has faced multiple food safety crises, including a recent incident in July where a batch of its products failed safety inspections due to high bacterial counts [2][13]. - The company acknowledged the need for improved quality control and has implemented corrective measures following the food safety issues [17][18].