北京金杜（成都）律师事务所 关于千禾味业食品股份有限公司 2025 年第一次临时股东会的 1 份有限公司 2025 年第一次临时股东会会议资料》； 法律意见书 5．公司本次股东会股权登记日的股东名册； 致：千禾味业食品股份有限公司 北京金杜（成都）律师事务所（以下简称本所）接受千禾味业食品股份有限 公司（以下简称公司）的委托，根据《中华人民共和国证券法》（以下简称《证 券法》）、《中华人民共和国公司法》（以下简称《公司法》）、中国证券监督 管理委员会《上市公司股东会规则》（以下简称《股东会规则》）等中华人民共 和国境内（以下简称中国境内，为本法律意见书之目的，不包括中国香港特别行 政区、中国澳门特别行政区和中国台湾省）现行有效的法律、行政法规、规范性 文件和现行有效的《千禾味业食品股份有限公司章程》（以下简称《公司章程》） 的规定，指派律师出席了公司于 2025 年 9 月 29 日召开的 2025 年第一次临时 股东会（以下简称本次股东会），并就本次股东会的相关事项出具本法律意见书。 3．公司 2025 年 9 月 13 日刊登于《上海证券报》《中国证券报》《证券时 报》及上海证券交易所网站的《千禾味业食品 ...

Core Insights - The seasoning and fermentation sector experienced a slight decline of 0.01% on September 29, with Anji Food leading the drop [1] - The Shanghai Composite Index closed at 3862.53, up 0.9%, while the Shenzhen Component Index closed at 13479.43, up 2.05% [1] Market Performance - Notable gainers in the seasoning and fermentation sector included: - Richen Co., Ltd. (603755) with a closing price of 31.70, up 3.73% [1] - Baoli Food (603170) at 14.43, up 1.62% [1] - Jialong Co., Ltd. (002495) at 2.63, up 1.15% [1] - Major decliners included: - Anji Food (603696) at 11.67, down 2.83% [2] - ST Jiajia (002650) at 6.13, down 1.76% [2] - Lianhua Holdings (600186) at 5.80, down 1.19% [2] Capital Flow - The seasoning and fermentation sector saw a net outflow of 170 million yuan from institutional investors, while retail investors contributed a net inflow of 139 million yuan [2] - The sector's capital flow details include: - Jieling Pickles (002507) with a net outflow of 15.02 million yuan from institutional investors [3] - Tianwei Food (603317) with a net inflow of 0.5965 million yuan from institutional investors [3] - ST Jiajia (002650) experienced a significant net outflow of 9.09 million yuan from institutional investors [3]

Core Insights - The seasoning and fermentation sector saw a 0.56% increase on September 26, with Angel Yeast leading the gains [1] - The Shanghai Composite Index closed at 3828.11, down 0.65%, while the Shenzhen Component Index closed at 13209.0, down 1.76% [1] Stock Performance - Angel Yeast (600298) closed at 40.54, up 2.37% with a trading volume of 128,000 shares and a turnover of 520 million yuan [1] - Anji Food (603696) closed at 12.01, up 1.78% with a trading volume of 94,400 shares and a turnover of 113 million yuan [1] - Qianhe Flavor (603027) closed at 11.32, up 0.89% with a trading volume of 81,100 shares and a turnover of 91.29 million yuan [1] - Haitian Flavor (603288) closed at 38.80, up 0.52% with a trading volume of 135,000 shares and a turnover of 522 million yuan [1] - Other notable stocks include Jialong Co. (002495) at 2.60, up 0.39%, and Hengshun Vinegar (600305) at 7.86, up 0.26% [1] Capital Flow - The seasoning and fermentation sector experienced a net outflow of 13.39 million yuan from institutional investors, while retail investors saw a net outflow of 47.95 million yuan [2] - Conversely, speculative funds recorded a net inflow of 61.34 million yuan [2] Individual Stock Capital Flow - Angel Yeast (600298) had a net inflow of 10.98 million yuan from institutional investors, while retail investors experienced a net outflow of 43.58 million yuan [3] - Qianhe Flavor (603027) saw a net inflow of 10.51 million yuan from institutional investors, with retail investors also experiencing a net outflow of 4.44 million yuan [3] - Other stocks like Hengshun Vinegar (600305) and Haitian Flavor (603288) also showed varied capital flows, with net inflows and outflows from different investor types [3]

Core Insights - The conference held by Qianhe Flavor Industry focused on the current dynamics and breakthroughs in the Chinese seasoning industry, emphasizing the transition towards clean-label seasoning products and the need to convert consumer demand into growth opportunities for high-quality development in the industry [1][2] Industry Trends - The clean-label soy sauce market in China is projected to grow over 18% in 2024 compared to the previous year, with expectations that by 2027, it will account for over 63% of the retail market share for quality soy sauce [4] - The competition in the seasoning market is shifting towards product differentiation and technological innovation, with clean-label products becoming mainstream [2][4] Company Performance - Qianhe Flavor Industry holds a 50.1% market share in the clean-label soy sauce segment in China, establishing itself as the leading brand in this category [4] - The company has invested over 400 million yuan in research and development since its listing, resulting in 129 patent authorizations, which support its commitment to product quality and innovation [4] Consumer Satisfaction - Qianhe Flavor Industry was recognized as the most satisfying brand in the soy sauce category in the 2025 China Customer Satisfaction Index (C-CSI) report, marking the second consecutive year of receiving this honor [5] Distribution Network - As of mid-2025, Qianhe Flavor Industry's distribution network covers all 34 provincial-level administrative regions in China, with over 3,300 distributors supporting market growth [8] - The company is also expanding its international presence, with products sold in Europe, America, and Southeast Asia, promoting "craftsmanship of Chinese flavor" globally [8] Collaboration and Awards - The conference awarded 30 distributors for their contributions, highlighting successful partnerships that have driven sales growth and market penetration [10] - Qianhe Flavor Industry is actively collaborating with distributors to enhance product offerings and meet regional consumer demands, such as promoting the Qianhe 0 series in supermarkets [10]

Core Viewpoint - The seasoning and fermentation products sector experienced a decline of 1.19% on September 24, with XD Haitian leading the drop [1] Group 1: Market Performance - The Shanghai Composite Index closed at 3853.64, up 0.83%, while the Shenzhen Component Index closed at 13356.14, up 1.8% [1] - The main funds in the seasoning and fermentation products sector saw a net outflow of 94.34 million yuan, while retail investors had a net inflow of 122 million yuan [2] Group 2: Individual Stock Performance - The top-performing stocks in the sector included: - Richen Co., Ltd. (603755) with a closing price of 31.57, up 2.87% and a trading volume of 26,100 lots [1] - Baoli Food (603170) closed at 14.48, up 2.40% with a trading volume of 39,000 lots [1] - Jialong Co., Ltd. (002495) closed at 2.61, up 1.16% with a trading volume of 182,200 lots [1] - XD Haitian (603288) closed at 38.80, down 0.61% with a trading volume of 136,900 lots [2] - Other notable stocks included: - Anji Food (603696) closed at 11.92, up 0.25% with a trading volume of 66,300 lots [2] - Zhongjing Food (300908) closed at 29.68, up 0.44% with a trading volume of 13,600 lots [2]

千禾味业食品股份有限公司 2025 年第一次临时股东会会议资料 千禾味业食品股份有限公司 2025 年第一次临时股东会会议资料 2025 年 9 月 29 日 千禾味业食品股份有限公司 2025 年第一次临时股东会会议资料 目录 千禾味业食品股份有限公司 2025 年第一次临时股东会议程..................................2 议案一《关于 2025 年半年度利润分配及资本公积金转增股本方案的议案》......4 千禾味业食品股份有限公司 2025 年第一次临时股东会会议资料 千禾味业食品股份有限公司 2025 年第一次临时股东会议程 一、时间： （一）现场会议时间：2025 年 9 月 29 日（星期一）上午 10:00。 （二）网络投票时间：2025 年 9 月 29 日。 采用上海证券交易所网络投票系统，通过交易系统投票平台的投票时间为股 东会召开当日的交易时间段，即 9:15-9:25,9:30-11:30，13:00-15:00；通过互 联网投票平台的投票时间为股东会召开当日的 9:15-15:00。 二、地点：四川省眉山市东坡区千禾味业食品股份有限公司会议室 三、主持 ...

Market Overview - The seasoning and fermentation sector saw a slight increase of 0.04% on September 19, with Richen Co., Ltd. leading the gains [1] - The Shanghai Composite Index closed at 3820.09, down 0.3%, while the Shenzhen Component Index closed at 13070.86, down 0.04% [1] Stock Performance - Richen Co., Ltd. (603755) closed at 30.75, up 3.33% with a trading volume of 50,500 shares and a turnover of 152 million yuan [1] - ST Jiajia (002650) closed at 6.49, up 1.41% with a trading volume of 57,400 shares and a turnover of 37.19 million yuan [1] - Tianwei Food (603317) closed at 11.72, up 0.69% with a trading volume of 41,100 shares and a turnover of 47.95 million yuan [1] - Other notable stocks include Zhongju Gaoxin (600872) at 18.80, up 0.59%, and Anqi Yeast (600298) at 39.63, up 0.35% [1] Capital Flow - The seasoning and fermentation sector experienced a net outflow of 98.62 million yuan from institutional investors, while retail investors saw a net inflow of 7.02 million yuan [2] - The overall capital flow indicates a mixed sentiment, with institutional investors pulling back while retail investors showed some interest [2] Individual Stock Capital Flow - Anqi Yeast (600298) had a net inflow of 7.01 million yuan from institutional investors, but a net outflow of 30.54 million yuan from retail investors [3] - Richen Co., Ltd. (603755) saw a net inflow of 5.98 million yuan from institutional investors and a net outflow of 13.68 million yuan from retail investors [3] - Jiagang Co., Ltd. (002495) had a net inflow of 5.39 million yuan from retail investors, despite a net outflow from institutional investors [3]

Investment Rating - The report provides a positive investment rating for the low-alcohol and beverage sectors, recommending specific companies based on their performance and market positioning [2]. Core Insights - The report emphasizes the structural recovery in the consumer goods sector, highlighting the importance of channel dynamics and product innovation in driving growth [2][25]. - It identifies key players in the beer segment, such as Yanjing Beer and Zhujiang Beer, which are expected to outperform due to their strong regional presence and operational efficiency [2][11]. - The report also notes the challenges faced by the seasoning and food supply sectors, particularly due to weak downstream demand, but suggests potential for recovery as the restaurant industry stabilizes [2][26]. Summary by Sections Beer Sector - The beer sector experienced a revenue of 41.73 billion yuan in the first half of 2025, with a year-on-year growth of 2.8% [7]. - Major companies like Qingdao Beer and China Resources Beer showed mixed performance, with Qingdao Beer achieving a revenue increase of 1.9% [11][12]. - The report highlights the impact of channel structure on revenue performance, with companies like Yanjing and Zhujiang benefiting from a higher proportion of non-immediate sales channels [11][12]. Yellow Wine Sector - The yellow wine sector reported a revenue of 1.93 billion yuan in the first half of 2025, reflecting a year-on-year growth of 3.4% [26]. - Kuaijishan, a leading player, achieved a double-digit growth rate of 11% in the same period, driven by its high-end and youth-oriented strategies [26][27]. - The report indicates a trend of market share concentration among leading companies, with Kuaijishan and Guyue Longshan capturing a larger portion of the market [31]. Seasoning and Food Supply Sector - The seasoning and food supply sector faced revenue pressure due to weak restaurant demand, but companies that successfully launched new products or expanded channels showed resilience [2][26]. - The report suggests that a recovery in restaurant demand could lead to increased supply chain needs, benefiting leading companies in the sector [2][26]. Beverage Sector - The beverage sector is highlighted for its high growth potential, particularly for companies like Dongpeng Beverage, which is expanding its national presence [2]. - The report recommends focusing on companies that are effectively navigating the competitive landscape and capitalizing on emerging consumer trends [2][26].

Market Overview - The seasoning and fermentation sector experienced a decline of 0.37% on September 17, with ST Jia Jia leading the drop [1] - The Shanghai Composite Index closed at 3876.34, up 0.37%, while the Shenzhen Component Index closed at 13215.46, up 1.16% [1] Individual Stock Performance - Key stocks in the seasoning and fermentation sector showed mixed results, with notable declines in several companies: - ST Jia Jia (002650) closed at 6.53, down 4.39% with a trading volume of 114,000 shares and a turnover of 75.18 million yuan [2] - Anji Food (603696) closed at 12.41, down 3.87% with a trading volume of 152,800 shares and a turnover of 192 million yuan [2] - Other notable declines include: - Day Chen Co. (603755) down 1.40% - Jialong Co. (002495) down 1.37% [2] Capital Flow Analysis - The seasoning and fermentation sector saw a net outflow of 228 million yuan from institutional investors, while retail investors contributed a net inflow of 180 million yuan [2] - The following stocks had significant capital flow changes: - Tianwei Food (603317) had a net inflow of 5.51 million yuan from institutional investors, but a net outflow of 6.63 million yuan from retail investors [3] - ST Jia Jia (002650) experienced a net outflow of 12.21 million yuan from institutional investors, while retail investors contributed a net inflow of 9.33 million yuan [3] - Fuling Pickles (002507) had a net outflow of 17.49 million yuan from institutional investors, with a net inflow of 19.78 million yuan from retail investors [3]

Core Viewpoint - The seasoning and fermentation products sector experienced a decline of 0.81% on September 16, with Haitian Flavoring leading the drop [1] Group 1: Market Performance - The Shanghai Composite Index closed at 3861.87, up 0.04%, while the Shenzhen Component Index closed at 13063.97, up 0.45% [1] - The following companies in the seasoning and fermentation sector showed varied performance: - ST Jiajia (002650) closed at 6.83, up 4.75% with a trading volume of 151,700 shares and a turnover of 103 million yuan - Jialong Co., Ltd. (002495) closed at 2.92, up 2.10% with a trading volume of 521,200 shares and a turnover of 150 million yuan - Rihou Co., Ltd. (603755) closed at 28.48, up 1.10% with a trading volume of 41,750 shares and a turnover of 49.75 million yuan - Other companies like Zhongjing Food (300908) and Lianhua Holdings (600186) also showed slight increases [1] Group 2: Capital Flow - The seasoning and fermentation sector saw a net outflow of 176 million yuan from main funds, while retail investors contributed a net inflow of 116 million yuan [3] - Speculative funds recorded a net inflow of approximately 59.99 million yuan [3]