In the first half of 2025, Sichuan Teway Food Group Co.,Ltd. experienced a downward trend in performance. The company's revenue reached approximately 13.91 billion yuan, down 5.24% year-over-year, while net profit attributable to shareholders declined by 23.01% to approximately 1.9 billion yuan, demonstrating significant performance pressure. The company's two core product categories - hot pot seasonings and Chinese dish seasonings - showed lackluster growth, with main sales regions exhibiting weak market performance.
Facing growth bottlenecks in the domestic market, the company is actively pursuing diversified development paths, including merger and acquisition integration and planning a Hong Kong stock listing to expand overseas market opportunities.
Core Products Under Pressure, Regional Markets Show Divergent Performance
Hot pot seasonings, traditionally Sichuan Teway Food Group's advantageous category, faced significant sales pressure in the first half of the year. The decline in this core product line directly impacted the company's overall performance. Meanwhile, Chinese dish seasonings maintained modest growth, though at a limited pace.
Regional markets displayed uneven development patterns. Eastern regions performed relatively well, while the western and central regions, two core markets, experienced declines. This regional performance differentiation indicates varying competitive strength across different markets, requiring more targeted market strategies in the future.
Online channels emerged as a bright spot in Sichuan Teway Food Group's first-half performance. Through acquisitions of online-focused brands such as Shicui and Jiadian Ziwei, the company achieved significant growth in online sales. However, the integration effectiveness of these new businesses with the company's main operations and their profitability remain to be improved.
Opportunities and Challenges in Diversification Transformation
Facing pressure from slowing growth in core business, Sichuan Teway Food Group is seeking new growth drivers through diversified positioning. The company has successively acquired stakes in multiple seasoning enterprises in recent years, gradually improving its product matrix.
International strategy represents another important initiative for Sichuan Teway Food Group to overcome growth bottlenecks. The company is planning a Hong Kong stock listing to provide capital support for overseas market expansion. Currently, Sichuan Teway Food Group's products are sold in multiple countries and regions, and the company has initiated international food safety standard certification to lay the foundation for international development.
Industry competition is becoming increasingly intense. As the potential of the compound seasoning market continues to emerge, more enterprises are entering this sector. Some traditional seasoning companies are continuously increasing their investment in the compound seasoning market, while other food industry companies are also entering this field through acquisitions or self-development.
Sichuan Teway Food Group's management indicated that the second half will focus on expanding terminal distribution for hot pot seasonings and implementing a big product strategy to achieve sales breakthroughs through channel cultivation. The company also plans to deepen refined operations and maintain healthy channel ecosystems to consolidate market share.
Against the backdrop of increasingly fierce competition in the seasoning industry, the market awaits to see whether Sichuan Teway Food Group can achieve sustainable growth through product innovation, channel optimization, and international expansion.
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