Investment Rating - The report maintains a "Buy" investment rating for the company [9] Core Views - The company shows an upward trend in single-store performance and is advancing mergers and acquisitions to release production capacity [5][6] - The company reported a total revenue of 835 million yuan for H1 2025, representing a 9% year-on-year increase, and a net profit of 132 million yuan, up 18% year-on-year [4] - The gross margin improved by 2 percentage points to 28.23% in Q2 2025, driven by cost optimization and scale effects [5] - The company has successfully integrated the supply chain for the "Manxiangren" brand and is deepening market penetration in East China [6] Summary by Sections Financial Performance - For Q2 2025, total revenue reached 465 million yuan, a 14% increase year-on-year, with net profit rising by 31% to 94 million yuan [4][5] - The company’s EPS forecasts for 2025-2027 have been adjusted to 1.21, 1.32, and 1.42 yuan respectively, with corresponding PE ratios of 18, 17, and 16 times [9] Business Development - The company’s food revenue in Q2 2025 was 421 million yuan, with significant growth in customized filling products [6] - The franchise sales revenue reached 348 million yuan in Q2 2025, marking a 10% increase year-on-year, with a total of 5,685 franchise stores by the end of Q2 2025 [6] Market Strategy - The company is enhancing cooperation with major clients, achieving a 26% increase in group meal revenue to 106 million yuan in Q2 2025 [7] - Retail sales through channels like Hema and Tmall saw substantial growth, with increases of approximately 187% and 20% respectively in H1 2025 [7]

味来""浔早"品牌门店。 | 证券代码：605338 证券简称：巴比食品 | | | | | 公告编号：2025-025 | | | | --- | --- | --- | --- | --- | --- | --- | --- | | 中饮巴比食品股份有限公司 | | | | | | | | | 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或 | | | | | | | | | 者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 | | | | | | | | | 中饮巴比食品股份有限公司（以下简称"公司"）根据《上海证券交易所上 | | | | | | | | | 市公司自律监管指引第 3 号行业信息披露：第十四号——食品制造》的相关要求， | | | | | | | | | 现将 2025 年半年度经营数据（未经审计）公告如下： | | | | | | | | | 万元，占营业收入 99.90%；其他业务收入为 80.63 万元，占营业收入 | | | | 0.10%。 | | | | | 一、营业收入分产品 | | | | | | | | | 单位：万元 | | | | ...

本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或 者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 中饮巴比食品股份有限公司（以下简称"公司"）根据《上海证券交易所上 市公司自律监管指引第 3 号行业信息披露：第十四号——食品制造》的相关要求， 现将 2025 年半年度经营数据（未经审计）公告如下： 2025 年 1-6 月营业收入为 83,464.98 万元，其中主营业务收入为 83,384.34 万元，占营业收入 99.90%；其他业务收入为 80.63 万元，占营业收入 0.10%。 一、营业收入分产品 | 项目 | 2025 年 1-6 月 | 占比 | | --- | --- | --- | | 食品类 | 75,442.44 | 90.39% | | 其中：面米类 | 32,781.80 | 39.28% | | 馅料类 | 22,996.11 | 27.55% | | 外购食品类 | 19,447.47 | 23.30% | | 其他 | 217.06 | 0.26% | | 包装及辅料类 | 5,152.28 | 6.17% | | 服务类 | 2,789.62 ...

证券代码：605338 证券简称：巴比食品 公告编号：2025-019 中饮巴比食品股份有限公司 2025 年第一季度经营数据公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或 者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 中饮巴比食品股份有限公司（以下简称"公司"）根据《上海证券交易所上 市公司自律监管指引第 3 号行业信息披露：第十四号——食品制造》的相关要求， 现将 2025 年第一季度经营数据（未经审计）公告如下： 2025 年 1-3 月营业收入为 36,957.17 万元，其中主营业务收入为 36,912.79 万元，占营业收入 99.88%；其他业务收入为 44.38 万元，占营业收入 0.12%。 一、营业收入分产品 二、营业收入分渠道 单位：万元 币种：人民币 项目 2025 年 1-3 月 占比 食品类收入 33,388.15 90.34% 其中：面米类 15,191.68 41.11% 馅料类 9,979.87 27.00% 外购食品类 8,216.60 22.23% 包装及辅料 2,339.71 6.33% 服务费收入 1,184.93 3.21 ...