阳光讯(记者 高小雨 通讯员 许倩)9月13日，第十九届榆林国际煤炭暨高端能源化工产业博览会、第三届西部氢能博览会在榆林会展中心隆重开幕。本次展会 主题为"高端能化 低碳发展 氢启未来"，吸引了国内外众多能源领域的企业、专家与客商齐聚一堂。佳县代表团参加本次盛会，以多元化视角展示了佳县在 推动能源产业转型升级与文旅融合发展方面的最新成果与巨大潜力，积极寻商机、求发展。 佳县县委副书记、县长高登科，县委常委、常务副县长苏晓洁等领导及相关单位、企业负责人参加本次博览会。 为充分利用好本届煤博会搭建的合作交流平台，佳县组织现代工业、特色农业、文化旅游3大领域共24家企业参展此次盛会。展区设计巧妙，主题鲜明，紧 紧聚焦"六个一"发展思路，即：以榆佳经开区为主的"一个工业园区"；以红枣产业为主的"一项农业主导产业"；以白云山为主的"一个国家级旅游度假区"； 以"东方红"为主的"一个精神文化地标"；以"五个一"为主的"一批民生工程项目"；以宜居宜业和美乡村建设为主的"一个专项整治"。通过图文、视频和实 物，将旅游胜地白云山的雄奇、黄河文化的厚重与现代化工园区的活力有机结合起来，重点展示了红枣系列产品、特色农产品、文创产品 ...

Core Viewpoint - The company "Hao Xiang Ni," known as the "first stock of red dates," is facing continuous losses due to weak red date consumption, despite significant institutional investment in its stock during this downturn [2][11]. Company Performance - Hao Xiang Ni's revenue for the first half of 2025 decreased by 15.64% to 689 million yuan, with a net loss of 19.84 million yuan [6][7]. - The company's net profit for the years 2022 to 2024 showed losses of 189 million yuan, 52 million yuan, and 72 million yuan respectively [6]. - The revenue from red date products increased from 985 million yuan in 2021 to 1.222 billion yuan in 2024, but the growth rate fell from 47.9% to a decline of 6.83% [6][7]. Market Challenges - The red date consumption market is experiencing a decline, attributed to changing consumer perceptions and a lack of engagement from younger demographics [7][8]. - The company has seen a net decrease of 9.1% in the number of distributors in Henan province and a 17.9% decrease outside the province [8]. - The overall inventory of red dates is high, with 10,000 tons reported as of August 1, significantly up from 5,383 tons the previous year [8]. Strategic Initiatives - To counteract declining performance, the company is focusing on a "red date+" product strategy, introducing various new products aimed at different consumer segments [9]. - New product launches include a range of health-oriented snacks and beverages, such as a series of craft beers and collaborations with popular brands [9][10]. - Despite these efforts, the new craft beer product has not gained significant market traction, raising concerns about the effectiveness of the diversification strategy [10]. Institutional Investment - Institutional investors have shown interest in Hao Xiang Ni, with several funds increasing their holdings, collectively approaching a 10% stake [11][12]. - The low valuation of the company, with a price-to-earnings ratio at a three-year low, is seen as a potential attraction for institutional investors looking for safety margins [12].

Core Viewpoint - The company "Hao Xiang Ni," known as the "first stock of red dates," is facing continuous losses due to weak red date consumption, despite institutional investors showing interest in its stock during a challenging period [1][8]. Company Performance - Hao Xiang Ni's main business has been under pressure, with a reported revenue decline of 15.64% to 689 million yuan in the first half of 2025, and a net loss of approximately 19.84 million yuan [3][4]. - The company's net profit for the years 2022 to 2024 showed losses of 189 million yuan, 52 million yuan, and 72 million yuan respectively [3]. - The revenue from red date products increased from 985 million yuan in 2021 to 1.222 billion yuan in 2024, but the growth rate fell from 47.9% to a decline of 6.83% [4]. Market Trends - The red date consumption market is experiencing a decline, attributed to changing consumer perceptions and a lack of engagement from younger demographics [4][5]. - The overall inventory of red dates has increased significantly, with a reported stock of 10,000 tons as of August 1, compared to 5,383 tons in the same period last year [5]. Strategic Initiatives - To counteract the declining performance, the company is focusing on a "red date+" product matrix strategy, introducing various innovative products aimed at different consumer segments [6]. - New product launches include a range of items such as low-GI health foods and a series of craft beers, although the latter has not gained significant market traction [6][7]. Institutional Investment - Despite the company's struggles, institutional investors have increased their holdings, with several funds from Xingquan and招商基金 acquiring significant shares [8][9]. - As of mid-2025, the company's price-to-earnings ratio is at a near three-year low, which may attract institutional investors looking for value [9].