Core Insights - Tianwei Food reported a revenue of 1.02 billion yuan in Q3 2025, representing a year-on-year growth of 13.79% [1] - The net profit attributable to the parent company for Q3 was 202 million yuan, showing an increase of 8.93% year-on-year [1] - For the first three quarters of 2025, the company achieved a total revenue of 2.411 billion yuan, which is a year-on-year increase of 1.98% [1] - The net profit attributable to the parent company for the first three quarters was 392 million yuan, reflecting a year-on-year decline of 9.3% [1]

Core Viewpoint - Sichuan Tianwei Food Group Co., Ltd. has submitted an application for listing on the Hong Kong Stock Exchange, with CICC as the sole sponsor [1][3]. Company Overview - Tianwei Food is a leading and rapidly growing compound seasoning company in China, ranked as the fourth largest by revenue in 2024 and the fastest-growing among the top five compound seasoning companies from 2022 to 2024 [3]. - The company holds the largest market share in recipe-based seasonings at 9.7% and the second largest in hot pot seasonings at 4.8% [3]. - The company emphasizes strict food safety and quality control standards, continuously innovating and developing high-quality compound seasonings that blend traditional Chinese flavors with modern techniques [3]. Product Portfolio - The company offers a comprehensive product range, including: - Recipe-based seasonings such as fish seasonings, crayfish seasonings, sausage and cured meat seasonings, and other recipe-based seasonings [5]. - Hot pot seasonings, including spicy and non-spicy hot pot bases, dipping sauces, and others [5]. - Sauces and other products, including various ready-to-eat sauces and compound seasoning products [5]. Sales and Distribution Network - Tianwei Food has established a vast sales network covering over 1 million terminal points across China, achieving full-channel coverage through both online and offline channels [5]. - As of June 30, 2025, the company has 3,251 distributors covering all provinces and nearly all prefecture-level administrative regions in China [5]. - The company is also expanding its international market presence, with products sold in over 50 countries and regions [5]. Financial Performance - The company's revenue for the six months ending June 30 for the years 2022 to 2025 is as follows: - 2022: approximately 2.68 billion RMB - 2023: approximately 3.13 billion RMB - 2024: approximately 3.45 billion RMB - 2025: approximately 1.37 billion RMB [6][7]. - The corresponding net profit figures for the same periods are: - 2022: approximately 341 million RMB - 2023: approximately 466 million RMB - 2024: approximately 645 million RMB - 2025: approximately 202 million RMB [6][7].

Core Viewpoint - Sichuan Tianwei Food Group Co., Ltd. has submitted an application for listing on the Hong Kong Stock Exchange, with CICC as the sole sponsor [1]. Company Overview - Tianwei Food is a leading and rapidly growing compound seasoning company in China, ranked as the fourth largest by revenue in 2024 and the fastest-growing among the top five compound seasoning companies from 2022 to 2024 according to Frost & Sullivan [5]. - The company holds the largest market share in recipe-based seasonings at 9.7% and the second largest in hot pot seasonings at 4.8% as of 2024 [5]. Product Offerings - The company offers a comprehensive product range, including: - Recipe-based seasonings such as fish seasonings, crayfish seasonings, sausage and cured meat seasonings, and other recipe-based seasonings [7]. - Hot pot seasonings including spicy and non-spicy bases, as well as dipping sauces [7]. - Sauces and other products, including various ready-to-eat sauces and compound seasoning products [7]. Sales and Distribution Network - Tianwei Food has established a vast sales network covering over 1 million terminal points across China, achieving the highest coverage rate among listed companies specializing in compound seasonings [8]. - As of June 30, 2025, the company has 3,251 distributors covering all provinces and nearly all prefecture-level administrative regions in China, while also expanding its international market presence, with products sold in over 50 countries and regions [8]. Financial Performance - The company's revenue for the six months ending June 30 for the years 2022, 2023, 2024, and 2025 was approximately RMB 2.68 billion, RMB 3.13 billion, RMB 3.45 billion, and RMB 1.37 billion respectively [8]. - The corresponding net profit figures for the same periods were approximately RMB 341 million, RMB 466 million, RMB 645 million, and RMB 202 million [8].

Financial Performance - The company's revenue for the third quarter reached ¥1,020,356,881.68, representing a year-on-year increase of 13.79%[4] - Total profit for the quarter was ¥256,326,757.45, reflecting a growth of 15.63% compared to the same period last year[4] - Net profit attributable to shareholders was ¥202,177,914.43, an increase of 8.93% year-on-year[4] - The basic earnings per share for the quarter was ¥0.1909, up by 8.65% from the previous year[4] - Total operating revenue for the first three quarters of 2025 reached CNY 2,411,162,334.88, an increase of 1.98% compared to CNY 2,364,317,975.10 in the same period of 2024[19] - Net profit for the first three quarters of 2025 was CNY 413,472,785.74, a decrease of 6.99% from CNY 444,558,921.61 in the same period of 2024[20] - Basic earnings per share for the first three quarters of 2025 were CNY 0.3709, down from CNY 0.4105 in the same period of 2024[21] Assets and Liabilities - The total assets at the end of the reporting period amounted to ¥5,745,169,024.09, showing a slight increase of 1.48% from the previous year[5] - The company's total assets amounted to CNY 5,745,169,024.09, compared to CNY 5,661,512,054.19 at the end of the previous period, indicating a growth of 1.48%[18] - Total liabilities increased to CNY 1,139,051,621.70 from CNY 977,664,169.15, marking a significant rise of 16.49%[18] - The company's equity attributable to shareholders decreased to CNY 4,390,301,291.52 from CNY 4,572,235,268.39, a decline of 3.98%[18] Cash Flow - The net cash flow from operating activities for the year-to-date was ¥527,628,901.51, down by 11.94% compared to the previous year[4] - Cash inflow from operating activities for the first three quarters of 2025 reached approximately $2.78 billion, an increase of 6.23% compared to $2.62 billion in the same period of 2024[25] - The net cash and cash equivalents at the end of Q3 2025 decreased to approximately $204 million, down from $288 million at the end of Q3 2024[26] - The company reported a net cash flow from operating activities of approximately $528 million for the first three quarters of 2025, down from $599 million in the same period of 2024[25] Investments and Acquisitions - The company completed the acquisition of Shandong Yipin Weixiang Food Technology Co., Ltd. on September 10, 2025, acquiring a 55% stake for an investment of RMB 154.47 million[13] - The company aims to diversify its strategic layout through mergers and acquisitions, focusing on business synergy and empowerment[13] - The company has appointed three directors to Yipin Weixiang, enhancing its product line in ready-to-eat sauces and leveraging its established sales channels[13] Operational Metrics - The weighted average return on equity for the quarter was 4.72%, a decrease of 1.33 percentage points from the previous year[4] - Research and development expenses for the first three quarters of 2025 were CNY 25,727,651.37, a decrease from CNY 32,905,550.27 in 2024, reflecting a reduction of 21.73%[20] - The company reported an investment income of CNY 49,617,377.72, down from CNY 57,341,469.13 in the previous year, indicating a decline of 13.06%[20] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 31,730[10] - The largest shareholder, Deng Wen, holds 606,103,020 shares, representing 56.91% of the total shares[10] Current Assets and Inventory - As of September 30, 2025, the company's total current assets amounted to RMB 3.77 billion, an increase from RMB 3.60 billion at the end of 2024, reflecting a growth of approximately 4.7%[15] - The company's cash and cash equivalents were reported at RMB 209.94 million, down from RMB 233.72 million at the end of 2024, indicating a decrease of about 10.1%[15] - The company's inventory increased to RMB 185.60 million from RMB 115.74 million, representing a significant rise of approximately 60.2%[15] - The company's long-term equity investments decreased to RMB 111.90 million from RMB 307.14 million, a decline of about 63.6%[15] - The company reported accounts receivable of RMB 143.17 million, up from RMB 116.77 million, marking an increase of approximately 22.6%[15] - The company’s total trading financial assets were valued at RMB 2.69 billion, an increase from RMB 2.59 billion, reflecting a growth of approximately 3.5%[15] - The company’s prepayments increased to RMB 26.65 million from RMB 12.97 million, indicating a growth of approximately 105.5%[15] Cash Flow from Investment Activities - Total cash inflow from investment activities surged to approximately $12.72 billion in the first three quarters of 2025, compared to $6.88 billion in the same period of 2024, reflecting a strong investment recovery[25] - Cash received from the recovery of investments was approximately $12.67 billion in the first three quarters of 2025, more than doubling from $6.82 billion in the same period of 2024[25] - Net cash outflow from investing activities for the first three quarters of 2025 was approximately $76 million, a significant improvement from a net outflow of approximately $346 million in the same period of 2024[26] Cash Flow from Financing Activities - Cash outflow from financing activities increased to approximately $627 million in the first three quarters of 2025, compared to $462 million in the same period of 2024, indicating higher dividend distributions and interest payments[26] - Payments to employees increased to approximately $356 million in the first three quarters of 2025, compared to $309 million in the same period of 2024, indicating a focus on workforce investment[25] - The company experienced a cash outflow of approximately $238 million related to other operating activities in the first three quarters of 2025, up from $155 million in the same period of 2024[25] Other Comprehensive Income - Other comprehensive income after tax was reported at CNY -5,233,920.67, with no prior year comparison available[21] Exchange Rate Impact - The impact of exchange rate fluctuations on cash and cash equivalents was a decrease of approximately $227,000 in the first three quarters of 2025[26]

天味食品公告，第三季度营收为10.2亿元，同比增长13.79%；净利润为2.02亿元，同比增长8.93%。前 三季度营收为24.11亿元，同比增长1.98%；净利润为3.92亿元，同比下降9.30%。 ...

Core Viewpoint - Sichuan Tianwei Food Group Co., Ltd. has submitted a listing application to the Hong Kong Stock Exchange, with China International Capital Corporation (CICC) as the exclusive sponsor [1] Company Summary - Sichuan Tianwei Food Group Co., Ltd. is seeking to go public on the Hong Kong Stock Exchange [1] - The exclusive sponsor for the listing is China International Capital Corporation (CICC) [1]

Group 1 - Sichuan Tianwei Food Group Co., Ltd. has submitted a listing application to the Hong Kong Stock Exchange [1]

香港交易及結算所有限公司、香港聯合交易所有限公司與證券及期貨事務監察委員會對本申請版本的內容 概不負責，對其準確性或完整性亦不發表任何意見，並明確表示概不就因本申請版本全部或任何部分內容 而產生或因依賴該等內容而引致的任何損失承擔任何責任。 Sichuan Teway Food Group Co., Ltd. 四川天味食品集團股份有限公司 （「本公司」） （於中華人民共和國註冊成立的股份有限公司） 的申請版本 警告 本申請版本乃根據香港聯合交易所有限公司（「聯交所」）及證券及期貨事務監察委員會（「證監會」）的要求 而刊發，僅用作提供資訊予香港公眾人士。 本申請版本為草擬本，其內所載資料並不完整，亦可能會作出重大變動。 閣下閱覽本文件，即代表 閣 下知悉、接納並向本公司、本公司的獨家保薦人、整體協調人、顧問或承銷團成員表示同意： 本公司招股章程根據香港法例第32章公司（清盤及雜項條文）條例送呈香港公司註冊處處長登記前，本公 司不會向香港公眾人士提出要約或邀請。倘於適當時候向香港公眾人士提出要約或邀請，準投資者務請僅 依據於香港公司註冊處處長註冊的本公司招股章程作出投資決定；招股章程的文本將於發售期內向公眾刊 發 ...

Hong Kong Exchanges and Clearing Limited, The Stock Exchange of Hong Kong Limited and the Securities and Futures Commission take no responsibility for the contents of this Application Proof, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this Application Proof. Application Proof of Sichuan Teway Food Group Co., Ltd. 四川天味食品集團股份有限公司 (the "Company") (A join ...

Market Overview - The seasoning and fermentation sector increased by 0.37% compared to the previous trading day, with Zhu Laoliu leading the gains [1] - The Shanghai Composite Index closed at 4016.33, up 0.7%, while the Shenzhen Component Index closed at 13691.38, up 1.95% [1] Stock Performance - Zhu Laoliu (code: 920726) closed at 19.28, up 3.54% with a trading volume of 18,300 lots and a transaction value of 34.45 million yuan [1] - Richen Co., Ltd. (code: 603755) closed at 34.71, up 2.30% with a trading volume of 19,300 lots and a transaction value of 65.70 million yuan [1] - Angel Yeast (code: 600298) closed at 41.00, up 2.27% with a trading volume of 75,000 lots and a transaction value of 306 million yuan [1] - Other notable stocks include Zhongjing Food (code: 300908) up 1.46%, ST Jiajia (code: 002650) up 1.14%, and Tianwei Food (code: 603317) up 1.06% [1] Capital Flow - The seasoning and fermentation sector experienced a net outflow of 60.96 million yuan from institutional investors, while retail investors saw a net inflow of 48.05 million yuan [2] - The overall capital flow indicates a mixed sentiment, with institutional investors withdrawing funds while retail investors increased their positions [2] Individual Stock Capital Flow - Zhongjing Food saw a net inflow of 10.29 million yuan from institutional investors, while retail investors had a net outflow of 6.36 million yuan [3] - Angel Yeast experienced a net inflow of 0.64 million yuan from institutional investors, with retail investors also seeing a net outflow of 0.48 million yuan [3] - Other stocks like Fuling Pickles and Baoli Food also showed varied capital flows, indicating differing investor sentiments across the sector [3]