Tianfeng Securities: Tianwei Food's operating performance rebounded in the second quarter, maintaining a "buy" rating.

The research report from Tianfeng Securities pointed out that TianWei Food's revenue and net profit attributable to mothers for 25H1 were 1.39 billion and 190 million respectively, a year-on-year decrease of 5.24% and 23.01%; the company's revenue and net profit attributable to mothers for 25Q2 were 749 million and 115 million respectively. Although the overall performance was under pressure in the first half of the year, with the effectiveness of operational strategy adjustments and gradual recovery of market demand, the second quarter's operating performance showed a rebound. In the short term, the company's performance may be slightly under pressure; but looking at the whole year, the company will strive to achieve the annual target from four aspects: product focus, channel reinforcement, brand momentum, and external growth, with profit margin expected to improve as revenue grows and scale advantages are reflected. In the long run, the company is expected to supplement weak channels and regional single products are expected to contribute to growth. Maintaining a "buy" rating.