Multi-dimensional drive for global breakthroughs: Haitian Weiye will deliver a high-quality development report card by 2025

On March 26, Haitian Flavor Industry (A-shares: 603288; H-shares: 03288) released its 2025 annual performance report. Facing the complex and ever-changing market environment of 2025, the company has steadily advanced in the wave of industry transformation, leveraging its diversified product matrix, efficient operational system, and hard-core technological innovation, delivering an excellent performance that showcases its industry-leading strength and high-quality development.

The financial report shows that in 2025, the company’s core operating indicators grew steadily, achieving operating revenue of 28.873 billion yuan, a year-on-year increase of 7.32%. Profitability improved simultaneously, with a net profit attributable to shareholders of 7.038 billion yuan, a year-on-year increase of 10.95%; the net profit attributable to shareholders after deducting non-recurring gains and losses was 6.845 billion yuan, a year-on-year increase of 12.81%; the gross profit margin of the main seasoning business was 41.78%, an increase of 3.15 percentage points year-on-year; all operating data set historical highs, demonstrating the company’s strong profitability and growth potential.

Rich national product matrix builds a diversified growth pattern

A rich and complete national product matrix is the core foundation for Haitian Flavor Industry to achieve steady growth. In terms of product matrix, Haitian continuously promotes category innovation around user needs, building a one-stop product system that covers all cooking scenarios, fully satisfying the diverse needs of different consumer groups.

Thanks to its rich product matrix and excellent product quality, in 2025, the company maintained steady development in its core categories such as soy sauce, oyster sauce, and seasoning sauces, achieving operating revenues of 14.934 billion yuan, 4.868 billion yuan, and 2.917 billion yuan respectively, with year-on-year growth of 8.55%, 5.48%, and 9.29%, forming the “pyramid base” of business growth.

Among them, Haitian soy sauce’s production and sales volume and market share have ranked first in the country for several decades, and Haitian oyster sauce has also ranked first in the country for ten consecutive years. With its excellent taste and stable quality, it has become the first choice for millions of families and dining institutions; the company’s seasoning sauces have formed a rich product system with diverse flavors and multiple scenarios, covering major products with a broad consumer base like soybean paste and spicy sauce, as well as specialty sauces suitable for different cooking methods such as Zhu Hou sauce, seafood sauce, bibimbap sauce, and mushroom sauce, flavor sauces suitable for different regional tastes like perilla sauce and Guilin-style chili sauce, and convenient seasoning sauces such as scallion oil noodle sauce and Chongqing noodle seasoning, effectively meeting user needs. In addition, to adapt to consumer’s segmented needs for vinegar products, the company insists on a product layout of “traditional vinegar + specialty vinegar,” while continuously innovating and launching diversified products such as organic vinegar and fruit vinegar, forming a rich and diverse vinegar product system, further filling product gaps and expanding market coverage.

As of the end of 2025, the company has 7 product series with over 1 billion yuan and more than 30 product series with over 100 million yuan, continuously enhancing the richness and completeness of its product matrix. Among them, the two major product series of Jinbiao light soy sauce and straw mushroom dark soy sauce have been bestsellers for over 60 years, while the two major product series of Weijixian soy sauce and Haitian superior oyster sauce have achieved annual revenues exceeding 1 billion yuan for more than 10 consecutive years, becoming the “ballast stone” supporting the company’s steady revenue growth, maintaining industry-leading market recognition and customer loyalty.

While maintaining steady growth in core categories, Haitian precisely grasps changes in consumer trends, continuously cultivating new growth points, and enriching the levels and connotations of its product matrix. During the reporting period, supported by leading industry product capabilities, the nutrition and health series represented by organic and low-salt products achieved year-on-year revenue growth of 48.3%, becoming a new engine for performance growth; the vinegar and cooking wine business continued to gain momentum, gradually demonstrating scale advantages and systematic capabilities, steadily increasing market share, injecting strong new momentum into the company’s long-term development.

It is noteworthy that relying on supply chain scale effects, technological research and development, and flexible production as three core barriers, Haitian is accelerating its transformation from a “seasoning product supplier” to a “one-stop flavor solution provider,” deeply laying out the commercial market, achieving dual-wheel drive of To C and To B business. By the end of 2025, the company has provided one-stop seasoning solutions to numerous restaurant chains, food factories, and leading global retail brands, becoming an important support for the company’s revenue growth.

Adhering to a user-centered approach, deeply cultivating efficiency and value

Adhering to a user-centered approach and continuously optimizing operational efficiency and user value is key to Haitian Flavor Industry maintaining its industry-leading position. In the face of diversified changes in consumption channels, Haitian is based on user needs, empowering traditional channels through digitalization, embracing new channel construction, and linking dining and industrial channels, achieving a dual leap in efficiency and value, further consolidating market penetration.

In traditional channels, Haitian relies on a nationwide terminal network, utilizing digital marketing tools and service model innovation to continuously penetrate into sinking markets and extend to end users and consumers, significantly improving terminal coverage quality and consumer reach efficiency. At the same time, through the refined upgrade of terminal management, existing networks have been revitalized. In 2025, offline channel operating revenue reached 25.760 billion yuan, a year-on-year increase of 7.85%.

In emerging fronts like online and instant retail, Haitian proactively adapts to changes in consumer scenarios, achieving high-quality development of emerging channels through standardized sales order management and strengthened professional operations; in response to the consumption characteristics of emerging channels, the company has also launched online customized products, precisely matching the needs of consumer groups, gradually building a healthy development model of online and offline synergy and mutual promotion, with a growth rate of 31.87% in online channels in 2025.

In commercial channels, relying on a flexible supply chain and a “sales-research-production integration” rapid response mechanism, Haitian provides one-stop seasoning solutions from generic products to customized products for restaurant chains and food factories, achieving efficient responses of “3 days for samples and 15 days for delivery,” significantly enhancing customer experience and cooperation stickiness. Currently, the restaurant and industrial channels are developing steadily, with revenue share continuously increasing, growing into an important source of professional growth for the company, further broadening its growth space.

Adhering to technology-driven innovation to promote the comprehensive upgrade of the value chain

Adhering to technology-based enterprise and innovation-driven development is the core driving force for Haitian Flavor Industry to achieve high-quality development. As a pioneer in the digital transformation of the seasoning industry, the company fully embraces the AI era, promoting the deep integration of artificial intelligence, big data, and traditional brewing techniques, achieving quality improvement and efficiency while safeguarding craftsmanship, pushing the industry from “traditional brewing” to “intelligent brewing” transformation and upgrade.

Haitian Flavor Industry insists on maintaining research and development investment at about 3% of operating revenue each year, with cumulative R&D investment exceeding 6.5 billion yuan over nearly ten years, accumulating more than 1,000 various patents, forming a complete R&D system and innovation mechanism. In January 2025, Haitian’s Gaoming production base received the first “Lighthouse Factory” certification in the global soy sauce brewing industry, marking that the company’s digital transformation has reached global industry benchmarks and confirming the leading strength of Chinese seasoning companies in the field of intelligent manufacturing.

Additionally, the company has deployed end-to-end supply chain innovation use cases, deeply applying AI and big data in various aspects of research, production, supply, and sales, achieving digital and intelligent upgrades across the entire chain. Under comprehensive digital empowerment, Haitian’s supply chain operation efficiency has significantly improved, with on-time in-full (OTIF) delivery rate continuously increasing, and comprehensive costs steadily decreasing, fully demonstrating the efficiency dividends and competitive advantages brought by intelligent manufacturing.

Benefiting from outstanding achievements in digital transformation and high-quality development, Haitian Flavor Industry has received numerous honors. In 2025, the company won multiple accolades including “CGF China Supply Chain Digitalization and Sustainable Resilience Development Case” and “National Manufacturing Digital Transformation Typical Case,” receiving widespread recognition from the industry and society. At the same time, the national standard “General Technical Requirements for Digital Factories in the Food Industry,” drafted by Haitian, was officially released, filling the gap in national standards for digital factories in the food industry, providing a “Haitian model” for the intelligent upgrade of the food industry, fully showcasing the company’s industry leadership and sense of responsibility.

Looking back at 2025, Haitian Flavor Industry has consolidated its industry-leading position with steady performance, diversified layout, and hard-core strength, steadily advancing on the path of high-quality development. Looking ahead, the company will continue to uphold craftsmanship, deepen its main business, continuously optimize its product matrix, deepen technological empowerment, and expand global markets, with higher quality products, more efficient services, and stronger innovation capabilities, safeguarding the taste of China and leading industry upgrades, writing a new chapter in the globalization and high-quality development of Chinese seasoning enterprises.

Contact: Hong Kong Economic Times Advertising Department, Listed Companies Team │ annteam@hket.com