Investment Rating - The report maintains a positive outlook on the mid-term market performance of the Beijing Stock Exchange, indicating a "structural opportunity" in the market [3][4]. Core Insights - The market showed resilience with a trading volume of 37.96 billion yuan on September 4, 2025, an increase of 5.94 billion yuan from the previous trading day. The North Exchange 50 Index closed at 1538.98, down 0.80%, with a PE_TTM of 75.35 times [1][7]. - Among the 274 companies listed on the North Exchange, 191 saw an increase in stock prices, while 82 experienced declines. The top five gainers included Hongyu Packaging, Tianhong Lithium, Lijia Technology, Runpu Food, and Hongzhi Technology, each rising by 30% or more [1][16]. - The report highlights the strong performance of specialized and innovative companies in the new energy materials sector, as well as the resilience of consumer service companies [3]. Summary by Sections Market Review - On September 4, 2025, the North Exchange A-share trading volume reached 37.96 billion yuan, up 5.94 billion yuan from the previous day. The North Exchange 50 Index closed at 1538.98, down 0.80%, with a PE_TTM of 75.35 times. The specialized and innovative index closed at 2666.79, down 1.16% [1][7]. Important News - The Ministry of Industry and Information Technology and the State Administration for Market Regulation announced an action plan to boost the electronic information manufacturing industry, aiming for a revenue growth rate exceeding 5% by 2026 and a server industry scale exceeding 400 billion yuan [2][19]. - The State Council aims for the sports industry to exceed 7 trillion yuan by 2030, fostering world-class sports enterprises and events [2][20]. Key Company Announcements - Haomiao Technology announced the acquisition of a patent for a high-flow multifunctional smoke exhaust device, enhancing its competitive edge [2][21]. - Biyang Technology announced the lifting of restrictions on 45,000 shares, accounting for 0.0261% of its total share capital [2][22]. - Boshun Biological reported using 16 million yuan of idle funds to purchase structured deposit products with an expected annual yield of 1.64% [2][23].

Group 1 - Runpu Food (836422) experienced a trading halt today with a daily increase of 29.97% and a trading volume of 2.49 billion yuan, resulting in a turnover rate of 21.82% and a price fluctuation of 30.70% [2] - The net buying amount from brokerage seats reached 12.89 million yuan, with the top five brokerage seats accounting for a total transaction of 82.01 million yuan, where the buying amount was 47.45 million yuan and the selling amount was 34.55 million yuan [2] - The largest buying brokerage was Guosheng Securities, Ningbo Sangtian Road branch, with a buying amount of 12.09 million yuan, while the largest selling brokerage was China Merchants Securities, Beijing Chegongzhuang West Road branch, with a selling amount of 10.58 million yuan [2] Group 2 - The top five buying brokerages included Ningbo He Yuan Road branch of Yongxing Securities with a buying amount of 9.35 million yuan, and Beijing Headquarters of Everbright Securities with a buying amount of 7.14 million yuan [2] - The selling activities were led by China Merchants Securities, followed by CITIC Securities, Lianyungang Longhe South Road branch, with a selling amount of 8.99 million yuan [2] - The trading data indicates significant interest in Runpu Food, as evidenced by the high turnover and net buying figures from various brokerage firms [2]

证券代码：836422 证券简称：润普食品 公告编号：2025-108 江苏润普食品科技股份有限公司 持股 5%以上股东权益变动达到 1%的提示性公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、 误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连 带法律责任。 | 股东姓名 | 股份性质 | 本次变动前持有股份的情况 | | 本次变动后持有股份情况 | | | --- | --- | --- | --- | --- | --- | | | | 股数（股） | 占总股本 比例（%） | 股数（股） | 占总股本 比例（%） | | 金海创业 | 持有股份 其中：无限售 | 6,910,000 | 7.8094 | 6,163,400 | 6.9657 | | | 条件股份 | 6,910,000 | 7.8094 | 6,163,400 | 6.9657 | | 乡村基金 | 持有股份 | 1,800,000 | 2.0343 | 1,800,000 | 2.0343 | | | 其中：无限售 条件股份 | 1,800,000 | 2.0343 | 1,800,00 ...

Core Viewpoint - The food and beverage sector has shown strong performance recently, with several companies experiencing significant stock price increases, indicating a positive market sentiment towards consumer stocks [1] Group 1: Market Performance - The food and beverage sector saw a notable rise on the 4th, with companies like Runpu Food and Huanlejia hitting the daily limit, and Gaisi Food increasing over 13% [1] - Other companies such as Anji Food and Huifa Food also reached their daily limit, reflecting a broader trend of recovery in the consumer sector [1] Group 2: Consumer Sector Insights - CITIC Securities noted a recovery in domestic demand in the first half of the year, but highlighted that there is still significant room for improvement in consumer spending [1] - The report emphasized that while domestic exports face uncertainties and the real estate market remains weak, recent policies like childbirth subsidies and consumer loan interest subsidies are expected to help unlock consumer potential [1] - The focus of policy efforts is to shift residents' income and wealth expectations, indicating a clear direction for boosting domestic demand [1] Group 3: Consumption Trends - The current investment logic differs from the past infrastructure-driven era, with three main trends emerging in the consumer sector: 1) Rational consumption, quality upgrades, and affordable alternatives coexisting 2) Spending on emotional value and satisfaction in pursuit of a happy life 3) New consumption opportunities driven by technological advancements and iterations [1] - Traditional consumption sectors are showing signs of recovery, particularly in essential goods, even without considering potential policy boosts [1] Group 4: Investment Recommendations - The report suggests a balanced investment approach, gradually transitioning from defensive to elastic allocations, focusing on sectors like consumer internet, undervalued high-return dairy products, and casual dining [1] - Elastic allocations should target cyclical sectors such as the restaurant supply chain, alcoholic beverages, and hotels, which are expected to benefit from the economic recovery [1]

Market Overview - The Shanghai Composite Index closed at 3759.50 points, above the six-month moving average, with a decline of 1.42% [1] - The total trading volume of A-shares reached 20293.94 billion yuan [1] Stocks Performance - A total of 178 A-shares have surpassed the six-month moving average, with notable stocks showing significant deviation rates [1] - The stocks with the highest deviation rates include: - Runpu Food with a deviation rate of 29.33% and a daily increase of 29.97% [1] - Youhao Group with a deviation rate of 9.75% and a daily increase of 9.95% [1] - Aibulu with a deviation rate of 9.04% and a daily increase of 10.57% [1] Additional Stocks Insights - Other stocks with notable performance include: - Liwang Co., with a daily increase of 9.49% and a deviation rate of 7.49% [1] - Andako Technology, with a daily increase of 7.36% and a deviation rate of 7.16% [1] - Yong'an Pharmaceutical, with a daily increase of 5.72% and a deviation rate of 5.17% [1] Summary of Deviation Rates - The table lists various stocks with their respective daily performance, turnover rates, six-month moving averages, latest prices, and deviation rates, indicating a mix of strong performers and those just above the six-month line [1][2]

Market Overview - As of 10:30 AM today, the Shanghai Composite Index is at 3767.69 points, above the six-month moving average, with a decline of 1.20% [1] - The total trading volume of A-shares today is 1,148.81 billion yuan [1] Stocks Breaking the Six-Month Moving Average - A total of 217 A-shares have surpassed the six-month moving average today [1] - Stocks with significant deviation rates include: - Aibulu (13.25%) - Runpu Food (13.23%) - Youhao Group (9.75%) [1] - Stocks with minor deviation rates that have just crossed the six-month moving average include: - Zhonggang International - Richen Co. - Yongshuntai [1] Top Stocks by Deviation Rate - The top three stocks with the highest deviation rates are: 1. Aibulu: Today's price increase of 14.87%, with a deviation rate of 13.25% [1] 2. Runpu Food: Today's price increase of 13.63%, with a deviation rate of 13.23% [1] 3. Youhao Group: Today's price increase of 9.95%, with a deviation rate of 9.75% [1] Additional Stocks with Notable Performance - Other notable stocks include: - Liwang Co.: Price increase of 9.09%, deviation rate of 7.10% [1] - Andake Technology: Price increase of 7.19%, deviation rate of 6.99% [1] - Yong'an Pharmaceutical: Price increase of 6.88%, deviation rate of 6.32% [1]

Market Overview - The Shanghai Composite Index closed at 3738.32 points, below the five-day moving average, with a decline of 1.97% [1] - The total trading volume of A-shares reached 1618.67 billion yuan [1] Stock Performance - A total of 450 A-shares broke through the five-day moving average today [1] - Stocks with significant deviation rates include: - Runpu Food: 21.11% deviation, closing price 18.69 yuan, with a daily increase of 29.97% and turnover rate of 19.47% [1] - Zhengye Technology: 13.14% deviation, closing price 10.49 yuan, with a daily increase of 20.02% and turnover rate of 14.12% [1] - Hangzhou High-tech: 12.98% deviation, closing price 21.01 yuan, with a daily increase of 19.99% and turnover rate of 16.85% [1] Additional Notable Stocks - Other stocks with notable performance include: - Gais Food: 9.62% deviation, closing price 15.25 yuan, with a daily increase of 15.53% and turnover rate of 26.10% [1] - Huanlejia: 8.67% deviation, closing price 19.27 yuan, with a daily increase of 12.82% and turnover rate of 5.15% [1] - Haixia Environmental Protection: 7.49% deviation, closing price 6.66 yuan, with a daily increase of 10.08% and turnover rate of 5.01% [1]

Market Overview - The Shanghai Composite Index is at 3767.69 points, below the five-day moving average, with a decline of 1.20% [1] - The total trading volume of A-shares is 1,148.056 billion yuan [1] Stocks Performance - A total of 672 A-shares have surpassed the five-day moving average today [1] - Notable stocks with significant deviation rates include: - Zhengye Technology (300410) with a deviation rate of 13.14% and a daily increase of 20.02% [1] - Hangzhou High-tech (300478) with a deviation rate of 12.98% and a daily increase of 19.99% [1] - Runpu Food (836422) with a deviation rate of 9.21% and a daily increase of 13.63% [1] Additional Stocks with Positive Movement - Other stocks showing positive movement include: - Haooubo (688656) with a daily increase of 10.83% and a deviation rate of 8.45% [1] - Haixia Environmental Protection (603817) with a daily increase of 10.08% and a deviation rate of 7.49% [1] - Yian Technology (300328) with a daily increase of 9.61% and a deviation rate of 7.08% [1] Summary of Stocks with Minor Deviations - Stocks with minor deviations just above the five-day moving average include: - Ancai Gaoke (600207) with a daily increase of 9.92% and a deviation rate of 6.70% [1] - Aishida (002403) with a daily increase of 10.03% and a deviation rate of 6.36% [1] - Ailubru (301259) with a daily increase of 14.01% and a deviation rate of 6.23% [1]

中泰证券股份有限公司 关于江苏润普食品科技股份有限公司 2025 年半年度持续督导跟踪报告 根据《证券发行上市保荐业务管理办法》《北京证券交易所股票上市规则》 等有关法律法规、规范性文件等的规定，中泰证券股份有限公司（以下简称"中 泰证券"或"保荐机构"）作为江苏润普食品科技股份有限公司（以下简称"润 普食品"或"公司"）的保荐机构，负责润普食品的持续督导工作，并出具 2025 年半年度持续督导跟踪报告。 | 项目 | 工作内容 | | --- | --- | | 1、审阅公司信息披露文件 | 保荐机构及时审阅公司信息披露文件。 | | 2、督导公司建立健全并有效执行规则制度 | 保荐机构督导公司建立健全规则制度（包括但 | | | 不限于防范控股股东及关联方占用公司资金专 | | | 项制度、募集资金管理制度、内控制度、内部 | | | 审计制度、对外担保管理制度、关联交易管理 | | | 制度等），并有效执行规则制度。 | | 3、监督公司募集资金存放与使用 | 保荐机构查阅公司募集资金使用台账、募集资 | | | 金专户银行对账单、了解募投项目实施进度并 | | | 实地查看募投项目进展情况、及时审阅募 ...

证券代码：836422 证券简称：润普食品 公告编号：2025-101 江苏润普食品科技股份有限公司 第四届董事会第九次会议决议公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、 误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连 带法律责任。 一、会议召开和出席情况 （一）会议召开情况 1.会议召开时间：2025 年 8 月 25 日 会议应出席董事 8 人，出席和授权出席董事 8 人。 董事聂诗军、肖侠、赵耀华因个人原因以通讯方式参与表决。 二、议案审议情况 2.会议召开地点：公司会议室 3.会议召开方式：现场与通讯 4.发出董事会会议通知的时间和方式：2025 年 8 月 15 日以通讯方式发出 5.会议主持人：董事长潘如龙 6.召开情况合法、合规、合章程性说明： 本次会议的召集、召开、议案审议程序符合法律、行政法规、部门规章和《公 司章程》的规定。 （二）会议出席情况 （一）审议通过《关于 2025 年半年度报告及其摘要的议案》 1.议案内容： 根据相关法律、法规、规范性文件及《公司章程》规定，结合 2025 年半年 度的经营情况，公司编制了 2025 年半 ...