执业证书编号：S1410525010001 | 投资评级： | 增持（上调） | | | --- | --- | --- | | 当前价格: | 39.09 | 元 | | 市场数据 | | | --- | --- | | 总股本(百万股) | 73.75 | | A 股股本(百万股) | 73.75 | | B/H 股股本(百万股) | -/- | | A 股流通比例(%)） | 65.69 | | 12 个月最高/最低(元) | 41.98/9.23 | | 第一大股东 | 吴平 | | 第一大股东持股比例(%) | 26.56 | | 上证综指/沪深 300 | 3096.58/3589.44 | | 数据来源：聚源 注：2025 年 4 月 7 日数据 | | 证券研究报告·公司点评报告 2025 年 4 月 8 日 江海证券研究发展部 消费行业研究组 分析师：张婧 近十二个月股价表现 % 1 个月 3 个月 12 个月 相对收益 63.82 78.55 244.37 绝对收益 38.86 80.47 268.60 数据来源：聚源 注：相对收益与北证 50 相比 -35% 28% 91% 155% 2 ...

Group 1: Investor Relations Activities - The company held an investor communication network meeting on April 3, 2025, via Tencent Meeting, attended by various securities and fund companies [3][4]. Group 2: Supply and Demand of Konjac - The growth area for konjac is limited to specific regions such as Wuling Mountain, Qinba Mountain, and Yunnan-Guizhou Plateau, making large-scale promotion difficult [4][5]. - The supply of konjac raw materials may be supplemented by importing yellow konjac from Southeast Asia [5]. Group 3: Market Trends and Price Predictions - The recent surge in the konjac industry is driven by health consumption trends, technological innovation, policy support, and expanding domestic and international market demand [6]. - The price increase of konjac in 2024 is attributed to market supply and demand dynamics, with future prices likely to remain high depending on planting area and climate conditions [7]. Group 4: Future Business Plans - The company plans to increase investment in application research and development, exploring new applications for konjac gum to maintain technological leadership [8]. - The company is optimistic about the konjac market, particularly in weight management, as consumer awareness of its health benefits grows [8]. Group 5: Brand Development and Marketing Strategy - The company's self-owned brand business primarily utilizes online e-commerce platforms, with the largest share coming from these channels [9]. - Future strategies include expanding domestic and international markets, enhancing customer communication, and increasing brand exposure through social media and industry events [9][10]. Group 6: Expansion into Beverage Sector - The company collaborates with leading tea beverage chains to expand into the "tea beverage ingredients" and "konjac food materials" sectors, implementing a forward integration strategy [11]. - Increased investment in application research will focus on providing customized products and services to meet market demands [11].

证券代码：839273 证券简称：一致魔芋 公告编号：2025-045 湖北一致魔芋生物科技股份有限公司 □现场参观 投资者关系活动记录表 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、 投资者关系活动类别 □特定对象调研 □业绩说明会 □媒体采访 问题 1：魔芋种植面积和原料供给情况怎样？ □新闻发布会 □分析师会议 □路演活动 √其他 投资者交流网络会议 二、 投资者关系活动情况 活动时间：2025 年 4 月 3 日 活动地点：腾讯会议 参会单位及人员：中信证券、西部证券、鹏华基金、华安基金、农银汇理基 金、民生加银基金、工银瑞信基金、永赢基金、睿扬投资、非马投资 上市公司接待人员：董事会秘书唐华林先生 三、 投资者关系活动主要内容 回复：魔芋对生长环境要求较高，主要在武陵山区、秦巴山脉及云贵高原等 地，难以大规模推广，同时产量会受气候等因素影响，魔芋原料供给是否增加， 现在还难以评判。魔芋原材料供给可通过东南亚进口黄魔芋进行补充。 问题 2：魔芋产业近期爆量的主要原因是什么？ 回复：魔芋产 ...

证券代码：839273 证券简称：一致魔芋 公告编号：2025-044 | 山保税 | | --- | | 港区诺 | | 伟其定 | | 位创业 | | 投资合 | | 伙企业 | | （有限 | | 合伙） | （二） 本次减持事项是否与股东此前已披露的计划、承诺一致 √是 □否 湖北一致魔芋生物科技股份有限公司 持股 5%以上股东减持股份结果公告 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、 减持主体减持前基本情况 | 股东名称 | 股东身份 | | 持股数量 | 持股比例 | 当前持股 | | --- | --- | --- | --- | --- | --- | | | | | （股） | | 股份来源 | | 上海诺伟其定位投资管理有 | 持股 | 5%以 | 4,000,000 | 5.4234% | 北交所上 | | 限公司宁波梅山保税港区诺 | 上股东 | | | | 市前取得 | | 伟其定位创业投资合伙企业 | | | | | | | （有限合伙） | | | | | | ...

证券代码：839273 证券简称：一致魔芋 公告编号：2025-043 湖北一致魔芋生物科技股份有限公司 投资者关系活动记录表 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、 投资者关系活动类别 □特定对象调研 □业绩说明会 √其他 投资者交流网络会议 二、 投资者关系活动情况 活动时间：2025 年 3 月 31 日至 2025 年 4 月 1 日 活动地点：进门财经网络会议 参会单位及人员：方正证券研究所、中信证券、交银施罗德基金、富国基金、 华安基金、上海同犇投资、永赢基金、国富人寿保险、上海明河投资、鑫巢资本、 华宝基金、东方基金、亚太财产保险、瑞信致远、上海贤盛投资、东证融汇证券 资产、国华人寿、雪石资产 上市公司接待人员：董事会秘书唐华林先生 □媒体采访 □现场参观 □新闻发布会 □分析师会议 □路演活动 三、 投资者关系活动主要内容 问题 1：魔芋粉 Q4 增长显著的原因是什么？对 2025 年魔芋价格趋势有何判 断？ 回复：2024 年第四季度，公司魔芋粉业务增长主要源于：1）魔芋 ...

Group 1: Investor Relations Activities - The company conducted an investor communication network meeting from March 31 to April 1, 2025, with participation from various financial institutions and investment firms [3][4]. Group 2: Growth Drivers and Market Trends - The significant growth in konjac powder in Q4 2024 was driven by the health attributes of konjac, leading to increased demand in the food sector, particularly in konjac snacks and tea additives [4]. - The price trend for konjac in 2025 will depend on the actual planting area and weather conditions, with expectations of increased planting area and downstream demand [4]. - The procurement cost for konjac is expected to rise in 2025 due to rapid price increases since June 2024, nearing 2018 highs, influenced by supply-demand dynamics [5]. Group 3: Industry Impact and Competition - Southeast Asian konjac varieties, primarily yellow konjac, differ from domestic varieties, providing a supplementary role in the market; the impact on the domestic konjac market is expected to be limited [6]. - The growth of konjac powder in 2024 is driven by applications in konjac snacks, tea additives, and deeper integration in food processing [7]. Group 4: Company Strategy and Development Focus - Key focus areas for the company in 2025 include accelerating project construction, increasing R&D investment in konjac powder applications, and expanding market share in konjac gel and other related products [8]. - The company aims to enhance collaboration with major clients and promote its own brand "Molege" through various marketing channels [9][10].

证券代码：839273 证券简称：一致魔芋 公告编号：2025-042 湖北一致魔芋生物科技股份有限公司 关于变更持续督导保荐代表人的公告 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。 湖北一致魔芋生物科技股份有限公司（以下简称"公司"）于 2025 年 3 月 31 日收到五矿证券有限公司（以下简称"五矿证券"）出具的《关于更换持续 督导保荐代表人的函》。 公司董事会对王文磊先生在公司首次公开发行股票、公司规范运作、公司治 理持续提升、长期发展等方面所做出的贡献表示衷心感谢！ 特此公告。 湖北一致魔芋生物科技股份有限公司 董事会 2025 年 3 月 31 日 附件： 王雅婷女士简历： 王雅婷，女，中国国籍，无永久境外居留权，中南财经政法大学法律硕士研 究生学历，五矿证券有限公司投资银行业务委员会高级经理，具有 9 年投资银行 业务从业经验，拥有保荐代表人资格。负责或参与了五矿新能 IPO、帝尔激光 IPO、长远锂科可转债、五矿资本优先股等项目的相关事项，在保荐业务执业过 程中严格遵守《证券发行上市 ...

Core Insights - The overall trading activity of the Beijing Stock Exchange (BSE) has significantly declined, with the average daily trading volume dropping to approximately 26.455 billion yuan, down from 39.658 billion yuan the previous week [3][4][5] - The BSE has 265 listed companies, with a total market capitalization of 720.115 billion yuan, and a price-to-earnings (P/E) ratio of around 43.3 times, which has decreased from 44.3 times the previous week [6][21][24] - The report emphasizes the accelerated development of specialized and innovative enterprises in the A-share market, highlighting the importance of capital market reforms in fostering a conducive environment for these companies [3][39][40] Trading Activity Overview - The BSE's trading volume for the week was 132.275 billion yuan, with a total trading volume of 6.629 billion shares, indicating a notable decrease in trading activity [3][4] - The weekly turnover rate for the BSE was 37.69%, which remains higher than that of the Sci-Tech Innovation Board, Growth Enterprise Market, and the Shanghai and Shenzhen main boards [5][6] Sector Performance - Among the 265 listed companies on the BSE, 122 companies experienced positive weekly growth, with the highest gainers being Kai Fa Technology (+150.36%) and Tonghui Electronics (+57.76%) [3][11] - The sectors with the largest weekly gains included non-ferrous metals (+10.1%), building materials (+9.8%), and agriculture, forestry, animal husbandry, and fishery (+6.3%), while the transportation sector saw the largest decline at -11.1% [3][11] Investment Strategy - The report recommends focusing on three main investment directions for 2025: 1. Concentrating on new productivity in the BSE, particularly companies with high growth potential and strong R&D investment [27] 2. Monitoring companies that are encouraged by policies to pursue mergers and acquisitions, as well as those expanding their industrial chains or planning overseas [27] 3. Paying attention to state-owned enterprises with stable operations and strong growth capabilities [27] Company Announcements - Important announcements from BSE companies this week included new foreign investments, stock buyback plans, project changes, project delays, and asset sales [28][30]

Group 1: Investor Relations Activities - The company conducted an investor communication network meeting from March 26 to March 27, 2025, with participation from various financial institutions and asset management companies [3][4]. Group 2: Revenue Insights - Company revenue is primarily concentrated in Q3 and Q4 due to market consumption patterns, with significant sales during the Mid-Autumn Festival and National Day [4]. - In 2024, domestic revenue growth was 39.07%, while international revenue growth was 9.28%, with foreign trade accounting for approximately 30% of total revenue [12]. Group 3: Product Demand and Market Trends - The significant increase in konjac powder sales is driven by its recognized health benefits and increased applications in the food sector, particularly in snacks [5]. - The demand for healthy ingredients is rising as living standards improve, leading to broader applications of konjac in the catering industry [5]. Group 4: Supply Chain and Inventory Management - As of the end of 2024, the company had approximately 440 million in inventory, which includes raw materials, semi-finished products, and finished goods, sufficient to meet operational needs for the year [7]. - The company maintains stable supplier relationships through annual framework agreements and various collaboration models [9]. Group 5: Brand and Business Development - The company focuses on B2B operations, with its own brand "Molege" showing an upward trend through online and offline channels [8]. - The company collaborates with four out of twenty leading tea beverage companies and plans to continue introducing new konjac tea products [13].

Group 1: Investor Relations Activities - The company held an investor communication network meeting on March 25, 2025, with participation from various securities and investment firms [3][4]. Group 2: Production Capacity and Projects - The company has established a smart manufacturing project for konjac gum, expected to reach production capacity by June 2025. The konjac food project has a capacity of 10,000 tons for konjac slices and 15,000 tons for konjac ingredients, currently in production [4]. - The original capacity for konjac balls was 5,000 tons, which has been expanded to 30,000 tons. An 80,000-ton konjac tea drink workshop is under construction [4]. Group 3: Collaboration with Partners - The partnership with Weidong began in the second half of 2024, driven by the company's leading position in the konjac industry, product quality control, supply chain advantages, and cost efficiency [5]. - The company expects a 63% overall growth in its food business in 2024, with significant contributions from partners like Weidong, Mixue Ice City, and Master Kong [7]. Group 4: Raw Material and Pricing - The price of konjac raw materials has been rising rapidly since June 2024, nearing 2018 highs. The company anticipates an increase in domestic planting area in 2025, but future supply remains uncertain due to climate factors [6][7]. - The company employs a "cost-plus pricing" strategy to manage cost pressures and maintain stable gross margins [7]. Group 5: Product Development and Market Trends - The company plans to develop new products such as frozen konjac, instant sago, and jelly powder to meet market demands and expand into new sectors like industrial beverages and dairy products [8]. - The demand for konjac powder is primarily driven by konjac slices and related products [8]. Group 6: Social Responsibility and Sustainability - The company received EcoVadis bronze certification in 2024, recognizing its efforts in social responsibility, environmental protection, and sustainable development [8]. - The konjac industry is positioned as a sustainable and eco-friendly sector, contributing to farmer income, job creation, and consumer health [8].