Changes in Hong Kong stocks | Haitian Flavour Industry (03288) fell more than 3% in the morning, Q3 net profit fell 15.4% year-on-year, and the trend of weak sales in catering distribution channels continued

The Zhitong Finance App learned that Haitian Flavors (03288) fell by more than 3% in the morning. As of press release, it fell 3.36% to HK$25.86, with a turnover of HK$39.914 million.

According to the news, Haitian Flavors recently released its 2026 three-quarter report. The Huachuang Securities Research Report indicates that the company's 26Q1-3 revenue was 22.55 billion yuan, +4.3% year over year; net profit to mother was 5.38 billion yuan, +1.2% year over year; and 5.08 billion yuan without return to mother, -1.5% year over year. Looking at a single quarter, the company's 26Q3 revenue was 6.41 billion yuan, +0.1% year over year; net profit to mother was 1.19 billion yuan, -15.4% year over year; after deducting non-return to mother, 1.12 billion yuan, -16.6% year over year.

On the channel side, Huachuang Securities believes that demand for food and beverage in 26Q3 is still lackluster, the Haitian flavor industry is growing healthily, and customized channels continue to grow, and it is still impossible to reverse the trend of weak distribution channel sales. Among them, Q3 soy sauce/oyster sauce/seasoning sauce/other revenue was -1.7%/-5.1%/+2.0%/+4.1%. The two major categories of soy sauce and oyster sauce are under pressure. Seasoning sauce is relatively superior to other categories such as cooking wine, vinegar, and mixed blends, mainly due to pressure on demand from catering channels. The bank believes that the company's short-term demand and exchange in the first half of the year disrupted profits, and medium- to long-term fundamentals are still on the right.