One of the brilliant “triple halogens” was the first to hand over six months of performance responses。
On the evening of 7 august, the brilliant (002695. Sz) disclosed a semi-annual newspaper in which the company earned $984 million in the first half of the year, a decrease of 7. 19 per cent over the same period, and a net profit of $76. 92 million for the mother, an increase of 26. 9 per cent over the same period。
For many years, the harvest has fallen。
As can be seen from the long-term line, between 2021 and mid-2025, they received $1. 407 billion, $1,182 million, $1,147 million, $1. 06 billion and $984 million, with a cumulative decline of 30 per cent over five years, with a clear downward trend。
Form preparation: zhao woo
With regard to this year's decline in revenue, the company explained that, mainly as a result of changes in the consumer landscape, the income from single shops in the halo-processing industry continued to decline in comparison, while the expansion of the stores fell short of expectations, and the number of stores grew negatively, with multiple factors leading to unsatisfactory harvests。
According to the press, the brilliant main business, which includes the processing of halogen products and rice products, has three brands of “smearly old” and “preciously old”; the product matrix includes fast-consuming halogen products such as ducks, chickens, pigs and cattle; rice products such as scorpions, youth groups, potatoes and octopus; and foods such as aquatic, vegetables and beans. In the first half of the year, there was a decline of 11. 65 per cent in the processing of meat products at the core of the company, and a decrease of 1. 36 per cent in the processing of rice products at the same time。
The significant contraction in the size of the shop is a visual expression of the underperformance。
As at 30 june, there were 2,898 specialty shops in the brilliant meat processing industry, a net decrease of 762 and a closure rate of more than 20 per cent, compared with 36,660 in late 2024. In terms of the type of store, the number of straight-camp shops has been reduced from 241 to 194, and the number of union stores has been reduced from 3419 to 2704, the latter becoming the main force of the “closed-shop” wave。
By the end of 2020, the number of outstanding specialized stores had reached 4627, with a cumulative reduction of 1,729 over four and a half years. For the brilliant use of offline sales as a core distribution channel, the persistent contraction of the terminal network echoes the performance of the continuous downswing, and its years-long “tenth of cities” objectives are becoming increasingly remote。
On the positive side, the corporate net profits increased during the reporting period。
This has been the result of an increase in the gross domestic product due to lower costs of raw materials; on the other hand, it has reduced the level of investment by 27. 38 per cent in the current period, of which the promotion and promotion fees have been significantly reduced from $6. 38 million in the same period of the previous year to $3. 902 million, which has released some profit space。
At the beginning of the year, the brilliant goal of double growth was set at $2. 1 billion in 2025 and $145 million in net profits. In terms of semi-annual performance, the corresponding target achievement rates were 46. 86 per cent and 53. 05 per cent, respectively。
It is a matter of concern that under downward pressure of performance, brilliant attempts have been made to break through cross-border transformation. At the end of last year, the company planned to acquire a leisure food enterprise in guangdong to enter the snack track, but was unable to do so。
Today, the halogen giant is still struggling with low performance。
