Core Viewpoint - Guangzhou Restaurant Group Co., Ltd. has made significant announcements regarding share repurchase and dividend distribution, reflecting its strategic financial management and shareholder value enhancement efforts [2][3]. Group 1: Stock Performance - As of May 30, 2025, Guangzhou Restaurant's stock closed at 16.11 yuan, down 0.8% from the previous week [1]. - The stock reached a weekly high of 16.45 yuan on May 26 and a low of 15.69 yuan on May 28 [1]. - The company's current total market capitalization is 9.163 billion yuan, ranking 6th in the leisure food sector and 1692nd in the A-share market [1]. Group 2: Share Repurchase Announcements - The company announced an adjustment to the maximum repurchase price for shares to not exceed 22.52 yuan per share, down from 23.00 yuan [3]. - The total repurchase fund is estimated to be between 100 million and 143 million yuan, with a repurchase period of 12 months from the date of shareholder meeting approval [3]. - The adjusted repurchase quantity is estimated to be between 4.44 million and 6.35 million shares, representing approximately 0.78% to 1.12% of the company's total share capital [3]. Group 3: Dividend Distribution - According to the profit distribution plan for 2024, the company will distribute a cash dividend of 0.48 yuan per share (including tax), with the record date on May 26, 2025, and the ex-dividend date on May 27, 2025 [3]. Group 4: Share Repurchase Execution - The company has completed its first share repurchase of 500,000 shares, with a total payment of 8,103,465 yuan [3]. - The actual repurchase price ranged from 16.09 yuan to 16.44 yuan per share [3].

Key Points - The company announced a share repurchase plan with a total expected amount of 100 million to 143 million RMB [1] - The repurchase period is from April 22, 2025, to April 21, 2026 [1] - The repurchased shares will be used for employee stock ownership plans or equity incentives [1] - As of now, the company has repurchased 500,000 shares, accounting for 0.088% of the total share capital [1] - The total amount spent on repurchased shares is 8,103,465 RMB, with a price range of 16.09 to 16.44 RMB per share [1] Repurchase Progress - Following the implementation of the 2024 annual equity distribution, the maximum repurchase price was adjusted from 23.00 RMB to 22.52 RMB per share starting May 27, 2025 [2] - The company has repurchased 500,000 shares at a maximum price of 16.44 RMB and a minimum price of 16.09 RMB per share, totaling 8,103,465 RMB (excluding transaction fees) [2] - The repurchase actions comply with legal regulations and the company's repurchase plan requirements [2]

广州酒家集团股份有限公司 关于以集中竞价交易方式首次回购公司股份的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、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法律责任。 | 重要内容提示： | | --- | | 回购方案首次披露日 | 2025/3/20 | | --- | --- | | 回购方案实施期限 | 2025 年 4 月 22 日-2026 年 4 月 21 日 | | 预计回购金额 | 1 亿元-1.43 亿元 | | 回购用途 | □减少注册资本 √用于员工持股计划或股权激励 □用于转换公司可转债 | | 累计已回购股数 | □为维护公司价值及股东权益 50 万股 | | 累计已回购股份占总股本比例 | 0.088% | | 累计已回购金额 | 8,103,465.00 元 | | 实际回购价格区间 | 16.09 元/股-16.44 元/股 | 一、回购股份的基本情况 广州酒家集团股份有限公司（以下简称"公司"）于 2025 年 3 月 19 日召开 第四届董事会第三十三次会议以及 2025 年 4 月 22 日召开 2024 年年度股东大会， 均审议通过 ...

端午临近，粽子成了不少街坊的必买品。今年的端午节假期与儿童节重合，又恰逢高考倒计时，南都记者走访广州多间线下商店发现，市场上的粽子也玩出 了"新花样"，口味频频创新，品牌选择更加多样，商家们发售应节粽子礼盒，还特意送上高考祝福。"这几年，粽子的销量比较平稳"，广州东山百货业务部 经理戴崇业介绍，近几天迎来了零售高峰期，预测粽子的销售额应该有5%左右的涨幅。 多间超市推出优惠活动 礼盒装粽子价格多在百元左右 5月25日下午，位于广州天河城的永旺超市格外热闹，超市内货物琳琅满目，不少街坊到此选购商品。端午临近，永旺超市还推出了粽子团购优惠套餐及满 减活动。 满减活动覆盖的品牌较多，其中五芳斋及广州酒家品牌的粽子享受"满99元减40元"的优惠。有工作人员推荐了一种组合购买方式，"73元即可买下16只粽 子，这是最实惠的购买方式"。 商场内摆放了多个品牌的粽子，还推出限时优惠活动。 在广百百货天河中怡超市，柜台上摆放了一条翠绿色的龙舟，船身四周整齐地摆放着各品牌的粽子，并同样推出了优惠活动。从标签上看，与原价相比，广 州酒家、张珍记等品牌降价了30元至80元不等。现场可见，超市多个礼盒装粽子价钱仍超200元。据工作人 ...

Core Viewpoint - Guangzhou Restaurant Group Co., Ltd. has adjusted the upper limit of its share repurchase price from RMB 23.00 per share to RMB 22.52 per share, effective from May 27, 2025, due to the implementation of a cash dividend distribution of RMB 0.48 per share [1][2][3] Group 1: Share Repurchase Plan - The company plans to use its own and/or raised funds to repurchase shares through centralized bidding, with a total repurchase amount between RMB 100 million and RMB 143 million [1][4] - The repurchase period is set for 12 months from the date of the shareholders' meeting that approved the repurchase plan [1] - The adjusted upper limit for the repurchase price is calculated based on the cash dividend and the unchanged circulation share ratio [3][4] Group 2: Dividend Distribution - The company will distribute a cash dividend of RMB 0.48 per share to all shareholders, with the record date for the dividend set for May 26, 2025, and the ex-dividend date on May 27, 2025 [2][3] - The total number of shares to be repurchased is estimated to be between 4.44 million and 6.35 million shares, representing approximately 0.78% to 1.12% of the company's total share capital [4][5] Group 3: Other Matters - Other aspects of the share repurchase plan remain unchanged, and the company will proceed with the repurchase plan in an orderly manner while fulfilling its information disclosure obligations [5]

证券代码：603043 证券简称：广州酒家 公告编号：2025-033 广州酒家集团股份有限公司关于 2024 年年度权益分派实施后调整回购价格上限的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、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法律责任。 重要内容提示： 股份回购价格上限调整起始日期：2025年5月27日（2024年年度权益分派 除权除息日）。 一、回购股份的基本情况 本次权益分派实施的股权登记日为 2025 年 5 月 26 日，除权除息日为 2025 年 5 月 27 日，具体内容详见公司于 2025 年 5 月 21 日在上海证券交易所网站 （www.sse.com.cn）披露的《广州酒家：2024 年年度权益分派实施公告》（公告 编号：2025-032）。 广州酒家集团股份有限公司（以下简称"公司"）于 2025 年 3 月 19 日召开 第四届董事会第三十三次会议以及 2025 年 4 月 22 日召开 2024 年年度股东大会， 均审议通过《关于以集中竞价交易方式回购公司股份方案的议案》，公司拟使用 自有资金和/或自筹资金通过集中竞价交易方式回购公司 ...

研究报告 Research Report 26 May 2025 餐饮及潮玩行业周报 F&B and Designer Toys Sector Weekly Report [Table_yemei1] 观点聚焦 Investment Focus | [Table_Info] | | | | | | --- | --- | --- | --- | --- | | 股票名称 | 评级 | 股票名称 | | 评级 | | 泡泡玛特 | Outperform 现代牧业 | | | Outperform | | 安踏体育 | Outperform 澳优 | | | Outperform | | 百威亚太 | Neutral | 九毛九 | | Outperform | | 华住酒店集团有限 | Outperform | | | | | 公司 | | | | | | 海底捞 | Outperform | | | | | 华润啤酒 | Outperform | | | | | 康师傅 | Outperform | | | | | 中国飞鹤 | Outperform | | | | | 名创优品 | Outperform | ...

Investment Rating - The report maintains a rating of "Accumulate" for the company [1] Core Views - The company is driven by dual engines of catering and food, focusing on South China while expanding nationwide [7] - The company has optimized its product matrix to align with market demand, launching new products such as mooncakes and frozen foods, and targeting health-conscious consumers [7] - The company has established a strong offline presence with over 1,013 distributors and is expanding its e-commerce partnerships [7] - The company is increasing its market share outside Guangdong, with nearly 20% of mooncake sales coming from outside the province in 2024 [7] - The company is also expanding internationally, with a 41.63% revenue growth from overseas markets in 2024 [7] - The company expects a net profit growth of 9.44% in 2025, reaching 540.50 million yuan, and a continued upward trend in subsequent years [1][7] Financial Summary - Total revenue is projected to grow from 5,124 million yuan in 2024 to 6,670 million yuan in 2027, with a compound annual growth rate (CAGR) of approximately 9.10% [1][8] - The net profit attributable to the parent company is expected to increase from 494 million yuan in 2024 to 678 million yuan in 2027 [1][8] - The earnings per share (EPS) is forecasted to rise from 0.87 yuan in 2024 to 1.19 yuan in 2027 [1][8] - The price-to-earnings (P/E) ratio is projected to decrease from 19.20 in 2024 to 13.98 in 2027, indicating potential undervaluation [1][8]

Core Viewpoint - Guangzhou Restaurant (603043) has shown a positive stock performance, with a closing price of 16.24 yuan as of May 23, 2025, reflecting a 2.65% increase from the previous week [1] Company Announcements - The company announced a cash dividend of 0.48 yuan per share, with the record date set for May 26, 2025, and the ex-dividend date and payment date on May 27, 2025 [1] - The total cash dividend distribution amounts to 273,009,986.40 yuan, approved during the annual shareholders' meeting on April 22, 2025 [1] - For individual shareholders and securities investment funds holding unrestricted circulating A-shares, the actual cash dividend per share is 0.48 yuan [1] - Qualified Foreign Institutional Investors (QFII) and Hong Kong market investors will receive a net cash dividend of 0.432 yuan per share after a 10% withholding tax [1] - Institutional investors and corporate shareholders will receive the full cash dividend of 0.48 yuan per share [1]

Distribution Plan - The profit distribution plan was approved at the company's annual general meeting on April 22, 2025 [1] - The distribution is based on a total share capital of 568,770,805 shares, with a cash dividend of 0.48 yuan per share (before tax), totaling 273,009,986.40 yuan [1] Distribution Recipients - The recipients of the cash dividends include all shareholders registered with the China Securities Depository and Clearing Corporation Limited Shanghai Branch as of the close of trading on the registration date [1] - Specific entities such as Guangzhou Urban Construction Investment Group Co., Ltd., Guangzhou Industrial Investment Holding Group Co., Ltd., and the Guangdong Provincial Department of Finance will receive dividends directly from the company [2] Taxation Details - For individual shareholders and securities investment funds holding A-shares, the company will not withhold personal income tax at the time of dividend distribution. The actual cash dividend per share remains 0.48 yuan [3] - Tax liabilities for individual shareholders depend on the holding period: - Less than or equal to 1 month: 20% tax on the full dividend - More than 1 month and up to 1 year: 10% tax on 50% of the dividend - Over 1 year: No personal income tax [3] - For Qualified Foreign Institutional Investors (QFII), a 10% corporate income tax will be withheld, resulting in a net dividend of 0.432 yuan per share [4] Implementation Method - The dividends for unrestricted circulating shares will be distributed through the China Securities Depository and Clearing Corporation Limited Shanghai Branch, with shareholders able to collect their dividends at their designated securities firms on the payment date [1][5]