Jiahe Food plans to invest 1 billion yuan in an intelligent manufacturing project for plant-based milk.

Securities Times Reporter Zang Xiaosong

Jiahe Food (605300) announced on the evening of March 25th that the company has signed the “Industrial Project Development Framework Agreement” (hereinafter referred to as the “Framework Agreement”) with the Haimen Economic and Technological Development Zone Management Committee (hereinafter referred to as “Haimen Development Zone Management Committee”). The company will invest in a super plant-based milk intelligent manufacturing project in Haimen, with an intended investment amount of about 1 billion yuan.

Specifically, Jiahe Food’s super plant-based milk intelligent manufacturing project plans to install 8 fully automated high-speed filling lines to produce liquid beverages such as milk tea, oat milk, and walnut milk. The project is located on the south side of Hong Kong Road, east side of Hanjiang Road, and north side of Fuzhou Road in the Haimen Economic and Technological Development Zone, with a total planned land area of about 59 acres. Of this, 14 acres of undeveloped land have previously been transferred to the company, and the remaining 45 acres will be supplied in one go, with land use rights classified as industrial land. The land use rights will be legally obtained by the company through participating in the public listing and transfer of state-owned land use rights by the Nantong Haimen Natural Resources and Planning Bureau, with the transfer price subject to the final auction price.

Jiahe Food previously disclosed in its 2025 annual performance forecast that, based on preliminary calculations by the finance department, it is expected to achieve a net profit of 30.0055 million to 45.0052 million yuan in 2025, representing a decrease of 38.93M to 53.93M yuan compared to the same period last year, a year-on-year decrease of 46.38% to 64.25%. It is also expected to achieve a non-recurring net profit of 8.5687 million to 12.8522 million yuan in 2025, compared to the same period last year, a decrease of 57.68M to 61.96M yuan, a year-on-year decrease of 81.78% to 87.85%.

Jiahe Food stated that the main reasons for the decline in the company’s performance in 2025 compared to the same period last year include: the impact of rising raw material prices leading to increased product costs; the company’s ongoing efforts to expand into coffee and other product businesses, and vigorously develop C-end sales channels, resulting in increased marketing expenses compared to the previous year. The adjustment of non-operating income and expenses to non-recurring gains and losses has no significant impact on the company’s performance changes.

On December 2, 2025, during the collective investor reception event for listed companies in Suzhou, Jiahe Food stated that the company continues to expand the scale of its main business, increases efforts in plant-based and coffee sectors, and is committed to promoting the coordinated development of the B2B2C market. The company has launched a series of new products. In the plant-based field, “Fei Chang Mai” has broken through with the slogan “Natural Life Fei Chang Mai,” focusing on the organic oat milk segment, successfully entering high-growth scenarios such as breakfast and sports, establishing a new benchmark for “light burden diet”; Jin Mao Coffee, with the slogan “More fragrant, richer, more convenient,” has opened a new growth curve with a series of convenient ready-to-drink products; while Kali Ma, as a trump card, captures the health tea trend, upgrading formulations to drive milk tea category iteration and seize new market heights. The three brands together form Jiahe Food’s C-end golden matrix, further enhancing the company’s overall strength.