Jiahe Food Plans to Invest 1 Billion Yuan in Plant-Based Milk Intelligent Manufacturing Project

Securities Times Reporter Zang Xiaosong

Jiahe Food (605300) announced on the evening of March 25 that the company has signed the “Industrial Project Development Framework Agreement” (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 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, oatmeal 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, covering a total planned 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 the land designated as industrial land. The land use rights are obtained by the company through participating in the public listing of state-owned land use rights by the Nantong Haimen Natural Resources and Planning Bureau, with the final transfer price subject to the winning bid.

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, a decrease of 38.9320 million to 53.9317 million yuan compared to the same period last year, representing 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, a decrease of 57.767 million to 61.960 million yuan compared to the same period last year, representing 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: increased product costs due to rising raw material prices; the company’s ongoing efforts to expand into coffee and other product sectors, and vigorous development of C-end sales channels, leading to higher marketing expenses than the previous year. The non-operating gains and losses are adjusted to non-recurring gains and losses, which do not have a significant impact on the company’s performance changes.

On December 2, 2025, during the Suzhou listed company investor reception day, Jiahe Food stated that the company continues to expand its main business scale, intensifies 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, “Feichang Mai” has broken through with the slogan “Natural Life Feichang Mai,” focusing on organic oatmeal milk, successfully entering high-growth scenarios such as breakfast and sports, and establishing a new benchmark for “light burden diet”; Jinmao Coffee, with the slogan “More fragrant, richer, more convenient,” has opened a new growth curve with a series of convenient ready-to-drink products; and Kaliyma, as a strategic move, 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.