Haixin Food (002702) Limit-up In-depth Analysis: Dual Drivers of Channel Breakthrough and Pre-made Dishes Policy Dividend

This analysis is based on reports from Securities Times [2] and China Finance Information Network [1]. Haixin Food (002702) hit the limit-up on November 27, 2025, with a cumulative deviation of more than 20% in two consecutive days [4]. Core driving factors include: successful entry into Sam’s Club system to achieve channel breakthrough [1], policy dividends in the pre-made dishes industry (the company ranks 12th in the 2025 Top 100 Pre-made Dishes Enterprises [5]), increased attention from institutional investors (Northeast Securities conducted research on the same day [7]), and support from Q4 traditional peak season stocking demand [0].

Haixin Food mainly engages in the frozen food business, with core products being hot pot balls and slides [0]. In 2025, the company achieved a strategic channel breakthrough by successfully entering the Sam’s Club system [1], while its snack business grew year-on-year and laid out diversified sectors such as pre-made dishes and baked foods [0]. In the pre-made dishes industry, policy dividends are significant: the company ranks 12th in the 2025 China Top 100 Pre-made Dishes Enterprises list [5], and the industry’s export scale is expanding rapidly [6]. In terms of stock price, the company’s stock has a cumulative deviation of more than 20% in two consecutive days [4], indicating high market sentiment.

1. Multi-factor resonance drives stock price rise
   : Channel breakthrough (Sam’s Club), policy dividends (Top 100 Pre-made Dishes), institutional research (Northeast Securities), and Q4 peak season demand form a joint force, pushing the stock price to rise rapidly in the short term.
2. Potential of pre-made dishes track
   : The company’s layout in the pre-made dishes field and the industry’s export expansion trend [6] provide support for long-term growth.
3. Short-term fluctuation risk
   : A cumulative deviation of more than 20% in two consecutive days [4] may attract market regulatory attention; subsequent fluctuations need to be vigilant.

##4. Risks and Opportunities

• Stock price fluctuation risk
  : The stock price rose rapidly in the short term (deviation over 20% [4]), which may face correction pressure and regulatory inquiries.
• Increased market competition
  : More participants in the pre-made dishes industry may lead to rising competitive pressure [5].

• Growth in pre-made dishes exports
  : The expansion of the industry’s export scale [6] is expected to benefit the company’s overseas business layout.
• New channel expansion
  : Entry into high-end channels such as Sam’s Club [1] helps enhance brand influence and sales volume.

##5. Key Information Summary
Haixin Food’s recent limit-up is mainly driven by factors such as channel breakthrough, pre-made dishes policy dividends, and institutional attention. Q4, as the traditional peak season [0], combined with diversified business layout, provides support for the company’s short-term performance. Investors need to pay attention to stock price fluctuation risks and industry competition, while seizing long-term opportunities brought by pre-made dishes exports and channel expansion.