Core Insights - The company reported a revenue of 2.829 billion yuan and a net loss of 93.5531 million yuan for the first half of 2025, impacted by strategic adjustments, government subsidies, and decreased investment income [1] - The leisure snack industry is undergoing a deep adjustment period, prompting the company to adopt long-term strategies such as price reductions, closing inefficient stores, and increasing online traffic [1] - The company emphasizes its core value proposition of "good ingredients create good taste" and aims to build a "one product, one chain" ecosystem to enhance long-term high-quality development [1] Business Strategy - The company is actively transforming its channel business by closing inefficient stores and controlling rental costs to improve channel efficiency [1] - On the sales front, the company is implementing a product-driven strategy to enhance the conversion rate of core products and is utilizing platforms like Meituan and Douyin for targeted traffic generation [1] - The company achieved a sales revenue of 119 million yuan in the second quarter, representing a year-on-year growth of 12.84% [2] Product Development - The company is focusing on developing products that align with health formulas, national cultural IPs, and creative packaging to enhance market penetration [2] - The company has initiated a product traceability program in collaboration with the Central Radio and Television Station to create a transparent and visualized supply chain from source to consumer [2][3] - The company has signed contracts with eight new high-quality raw material production areas to ensure a stable supply of quality ingredients [2] Brand Trust and Innovation - The company is advancing its product traceability system to ensure full visibility and traceability of key ingredients from production to finished products [3] - The company has successfully launched popular products such as "Australian Angus Beef Chips" and "Crispy Lobster Tails" while introducing new traceable products [3] - The company aims to balance short-term performance improvement with long-term high-quality development by continuing to focus on brand and supply chain innovation during the industry adjustment period [3]

不过，良品铺子认为，当前休闲零食行业进入深度调整期，公司以长期思维直面变局，围绕品质升级， 通过"一品一链"迭代采购体系，持续优化供应链；打造从源头到消费终端的透明化、可视化产业链条， 全链路溯源，强化品牌信任状；同步优化单店模型，精益生产改善，提升经营效率，进而提升公司产品 及渠道竞争力。 在线上渠道，公司积极探索更高效流量模式。平台电商渠道通过"短视频引流+内容种草"，提升了爆款 产品占比；社交电商渠道通过"自有团队+外部达人"共创内容，深化抖音商城单品运营，有效带动销售 转化。 在团购渠道，良品铺子聚焦健康配方、国潮文化IP和创意包装结构等方面开发产品，二季度实现销售额 1.19亿元，同比增长12.84%。 受战略调整投入、政府补助及理财收益下降等多重因素叠加影响，良品铺子（603719）业绩短期承压。 8月26日晚，良品铺子发布的2025年半年报显示，公司上半年实现营业收入28.29亿元，归母净利润亏损 9355.31万元。 今年以来，良品铺子深化"一品一链"战略，启动"寻味中国好原料暨CMG乡村振兴首发活动"，以该活 动为核心开展产品溯源，打造从源头到消费终端的透明化、可视化产业链条，构筑起以源头品 ...

（原标题：持续探索经营优化改善路径 良品铺子上半年实现营收28.29亿） 8月26日晚，良品铺子（603719.SH）发布2025年半年度报告。上半年，公司坚定贯彻"好原料造就好味 道"的核心价值主张，以构建"一品一链"产业生态体系为核心抓手，在品牌战略升级、供应链协同创新 及消费者价值传递等方面取得实效，为长期高质量发展筑牢基础。 在团购渠道，良品铺子深化渠道拓展，并聚焦健康配方、国潮文化IP和创意包装结构等方面开发产品， 有效提升了公司产品的市场渗透率，二季度实现销售额1.19亿元，同比增长12.84%。 今年以来，良品铺子深化"一品一链"战略，联合中央广播电视总台农业农村节目中心启动 "寻味中国好 原料暨CMG乡村振兴首发活动"，以该活动为核心开展产品溯源，打造从源头到消费终端的透明化、可 视化产业链条，构筑起以源头品质把控和供应链全程透明为核心的差异化竞争优势。 为夯实产品力根基，公司持续拓展核心原料产区 "朋友圈"，上半年新增签约湖北潜江、仙桃、贵州关 岭、山东威海等8个优质产区，完善原料供应布局，从源头为品质食品提供稳定而优质的保障。 当前休闲零食行业进入深度调整期，良品铺子以长期思维直面变局，主 ...