随着中国市场的消费升级，休闲食品领域快速增长同时仍然蕴藏着巨大的空间，根据市场研究估算，中国休闲食品消费市场仍存在1.5倍到2倍的增长空间，同时近年来一些新兴的休闲食品品牌快速成长，已经上市的线下品牌来伊份、准备冲击IPO的线上品牌三只松鼠近年来均快速增长，于此形成鲜明对比的是老字号品牌受制于区域限制的等问题增长受制。

桂发祥虽身为中华老字号品牌，但其发展速度已不及新兴品牌的崛起速度，根据和讯网对比，同样于2016年10月上市的休闲食品来伊份自2014年起净利润已经突破亿元，2016年营业收入32.36亿元，营收规模已为桂发祥额7倍。2017年2月上市的盐津铺子净利润与桂发祥属同一量级，但其净利润增长率保持在30%以上，增长势头不减。2017年排队闯关IPO的三只松鼠的财务数据显示，2016年实现营业收入44.23亿元，净利润2.37亿元，其量级已经远超桂发祥。未来桂发祥将如何在行业中进一步打开局面，知道公司深思。虽然休闲食品市场格局分散，并不存在此消彼长的品牌制约问题，但新兴品牌的快速成长无疑对老字号品牌的经营模式提出了拷问。

近5400万股即将解禁中信津点、中华投资退出成难题

作为上市即将满一年的次新股，桂发祥即将面临大批首发限售股解禁的尴尬局面。根据和讯网统计，桂发祥的招股说明书的持股承诺显示，有占总股本42.15%的5394.84万股将于2017年11月20日解禁，其中5家投资机构中信津点、中华投资、凯普德、海谐投资、海嘉投资持股35.2%，持股成本为8.4元/股，以及李辉忠、王善伟、吴宏、李文凤、徐津生等9名高管持股14.28%，持股成本2元/股。

机构或基金名称	持有数量(股)	占总股本比例
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