Group 1 - UCM plans to reduce its holdings in Youde Precision (300549.SZ) by up to 1,333,400 shares, accounting for 1% of total share capital within three months after the announcement [1] - Dongtai Juheng plans to reduce its holdings in Jusa Long (301131.SZ) by up to 477,909 shares, also representing 1% of total share capital within the same timeframe [1] - Shouzhong Education intends to reduce its holdings in Jindan Technology (300829.SZ) by up to 600,000 shares, which is 0.31% of total share capital [1] Group 2 - Zhao Hua Investment plans to reduce its holdings in Zhidi Technology (301503.SZ) by up to 336,000 shares, accounting for 0.42% of total share capital [1] - Jinfu Yuan Five Fund's shareholding in Nanjiguang (300940.SZ) has dropped to 4.9999% as of April 21, no longer qualifying as a major shareholder [1] - Executives of Yashichuangneng (603378.SH) completed their reduction plans, selling 3,311,900 shares, 406,700 shares, and 319,300 shares respectively [1] Group 3 - Shanghai Houxu did not reduce its holdings in Baoli Food (603170.SH) during the planned reduction period, which was set to be up to 12,000,300 shares [2] - Supervisors and executives of Hongyuan Electronics (603267.SH) completed their reduction plans, selling 210,000 shares and 300,000 shares respectively [3] - Major shareholders of Duolun Technology (603528.SH) reduced their holdings by 3,055,000 shares and 3,056,400 shares between April 8 and April 21 [3] Group 4 - Controlling shareholder Ningbo Sichu reduced its holdings in Shuiyou Co., Ltd. (603171.SH) by 8,135,232 shares, which is 2% of total share capital [3] - Shareholders of Kaiyin Technology (688687.SH) plan to reduce their holdings by up to 5,128,000 shares, representing 3% of total share capital [3] - Zhang Lijun from Fortune Trend (688318.SH) reduced 122,800 shares, while Qin Tao did not implement his reduction plan [4] Group 5 - Shareholders Yancheng Semiconductor and Gongqingcheng Kangseng reduced their holdings in Kangxi Communication (688653.SH) by 12,573,400 shares, accounting for 2.96% of total share capital [4] - Ali Zeta plans to reduce its holdings in Sanjiang Shopping (601116.SH) by up to 16,430,352 shares, which is 3% of total share capital [4] - Shareholder Yuming Yao plans to reduce its holdings in Shenli Co., Ltd. (603819.SH) by up to 6,531,900 shares, representing 3% of total share capital [4] Group 6 - Shandong Electric Construction completed its reduction plan for Liren New Energy (001258.SZ), selling 9,333,300 shares, which is 1% of total share capital [6] - Baishide Chuangye plans to reduce its holdings in Heyuan Gas (002971.SZ) by up to 454,064 shares through centralized bidding and 908,128 shares through block trading [6]

证券代码：603170 证券简称：宝立食品 公告编号：2025-006 上海宝立食品科技股份有限公司 本公司董事会、全体董事及相关股东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： 持股 5%以上股东减持时间届满暨未减持股份的结果 公告 持股 5%以上股东的基本情况 本次减持计划实施前，持股 5%以上股东上海厚旭资产管理有限公司（以下 简称"上海厚旭"）持有上海宝立食品科技股份有限公司（以下简称"公司"） 股份 25,007,520 股，占公司总股本的 6.25%。上述均为公司 IPO 前取得的股份， 已于 2023 年 7 月 31 日上市流通。 减持计划的实施结果情况 公司于 2024 年 12 月 27 日披露《持股 5%以上股东减持股份计划公告》（公 告编号：2024-055），公司股东上海厚旭拟通过集中竞价交易和大宗交易方式减 持公司股份合计不超过 12,000,300 股，即不超过公司总股本的 3%。减持期间为 2025 年 1 月 21 日至 2025 年 4 月 20 日。 截至 2025 年 4 月 20 日，上海 ...

宝立食品（603170）公告，持股5%以上股东上海厚旭资产管理有限公司拟通过集中竞价交易和大宗交 易方式减持公司股份合计不超过1200.03万股，即不超过公司总股本的3%。截至2025年4月20日，上海 厚旭在减持期间内未减持公司股份，减持计划未完成，持股比例仍为6.25%。 ...

Group 1 - The company is transforming from a single OEM model to a dual-driven BC model, establishing a leading position in the industry through strategic transformation and R&D-driven initiatives [1] - Since its establishment in 2001, the company has leveraged its technical expertise in food additives to become a comprehensive flavor and product solution provider, covering compound seasonings, light cooking solutions, and beverage dessert ingredients [1] - The company focuses on R&D innovation to meet the rapidly evolving needs of B-end clients, while enhancing C-end brand reach through online content and offline supermarket experiences, creating a synergistic development pattern [1] Group 2 - The company has successfully transitioned from B-end supply chain to C-end brand operation by acquiring Kitchen Affin and launching "Chef Pre-mixed Sauces + Full Combination" products, achieving a leading position in the instant pasta segment [2] - The company's online sales performance during the Double Eleven shopping festival showed over 40% year-on-year growth, moving from eighth to second place in the food category, indicating significant improvements in market share and brand strength [2] - The company plans to introduce high-cost performance and clean label products, targeting refined consumer groups while achieving full price range coverage [2] Group 3 - The company is expanding from a restaurant supply chain to a food supply chain, focusing on supermarkets and convenience store channels, which are evolving towards consumer demand-driven selection models [3] - The company is expected to benefit from the transformation of supermarket channels due to its strong product innovation capabilities and experience serving large B-end clients [3] - Revenue forecasts for 2024-2026 are projected at 2.601 billion, 2.971 billion, and 3.425 billion yuan, with net profits of 237 million, 282 million, and 345 million yuan respectively, indicating a favorable growth outlook [3]

Investment Rating - The report maintains a "Recommendation" rating for the food and beverage industry, particularly highlighting the white wine sector as it is expected to clear and stabilize, with gradual improvements in the mass market [1]. Core Insights - The white wine sector is currently in a clearing and bottoming phase, with expectations for marginal improvement in the second half of the year. The industry has seen risks transition from off-balance sheet channels to on-balance sheet for most listed companies, leading to a slight slowdown in payment and delivery progress in Q1. However, leading companies have largely completed their initial targets for the year [4][9]. - In the mass market, beer shows signs of marginal improvement, with standout performance in the snack category, particularly for konjac products. The dairy sector is expected to rebound in Q2 after a period of adjustment [19][25]. Summary by Sections White Wine Sector - The white wine sector is in a clearing and bottoming phase, with expectations for improvement in the second half of the year. Q1 saw a slowdown in payment and delivery, but leading companies have met their initial targets [4][9]. - High-end brands like Moutai and Wuliangye are expected to see revenue and profit growth of approximately 9% and 10%, and 4% and 3% respectively in Q1 [10][12]. - The mid-range segment is experiencing varied performance, with brands like Fenjiu and Gujing showing growth, while others like Yanghe are facing challenges [10][12]. Mass Market - The beer sector is showing signs of recovery, with leading brands like Qingdao and Yanjing achieving revenue growth of 4% and 6% respectively in Q1 [26][29]. - The snack segment, particularly konjac products, is performing well, with brands like Salted and Wei Long seeing significant growth [19][25]. - The dairy sector is expected to improve as inventory levels stabilize, with companies like Yili and Mengniu showing resilience [25]. Investment Recommendations - The report suggests bottom-fishing in the white wine sector, with a focus on brands like Moutai, Wuliangye, and Fenjiu, while also recommending attention to the mass market for potential turning points in beer and dairy [5][19].

关于全资子公司签订土地出让意向书的进展公告 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。 证券代码：603170 证券简称：宝立食品 公告编号：2025-005 上海宝立食品科技股份有限公司 二、本次进展情况 上海宝润按照法定程序参与了上述宗地编号为202418592283007461号的国有建设用地使用权的挂牌出让 竞拍，最终以人民币2,221万元竞得该宗地的使用权。上海宝润于2025年4月9日与有关政府部门签署了 《上海市国有建设用地使用权出让合同》（以下简称"出让合同"），该出让合同的主要内容如下： （一）合同双方 出让人：上海市金山区规划和自然资源局 受让人：上海宝润食品有限公司 （二）出让土地基本情况 4、土地用途：工业用地 5、出让年限：50年（按交付土地之日起算） 一、事项概述 上海宝立食品科技股份有限公司（以下简称"公司"）于2024年3月8日召开了第二届董事会第五次会议， 审议通过了《关于全资子公司拟签订土地出让意向书的议案》，同意公司全资子公司上海宝润食品有限 公司（以下简称"上海宝润"）与上海市金山区亭 ...

证券代码：603170 证券简称：宝立食品 公告编号：2025-005 上海宝立食品科技股份有限公司 关于全资子公司签订土地出让意向书的进展公告 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。 二、本次进展情况 一、事项概述 上海宝立食品科技股份有限公司（以下简称"公司"）于 2024 年 3 月 8 日 召开了第二届董事会第五次会议，审议通过了《关于全资子公司拟签订土地出 让意向书的议案》，同意公司全资子公司上海宝润食品有限公司（以下简称"上 海宝润"）与上海市金山区亭林镇人民政府（以下简称"亭林镇人民政府"） 签署《土地出让意向书》，上海宝润拟在上海市金山区亭林镇工业区受让 31.14 亩地块（暂定面积，具体以实际土地测绘面积为准）投资并设立智能化生产基 地建设项目（以下简称"项目"）。土地出让价格最终以上海市金山区规划和自 然资源局选择的政府采购名录中的第三方专业机构的评估价格为参考依据，经 招拍挂程序后，以正式签署的国有土地使用权出让合同中约定的金额为准，上 海宝润拟定固定资产投资不低于 27,767.26 万元。具体 ...

关于使用部分闲置自有资金进行现金管理的公告 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： 证券代码：603170 证券简称：宝立食品 公告编号：2025-004 上海宝立食品科技股份有限公司 投资种类：安全性高、流动性好的理财产品，包括但不限于结构性存款、 定期存款、大额存单等。 投资金额：上海宝立食品科技股份有限公司（以下简称"公司"）及子 公司拟使用最高不超过人民币 50,000 万元（含本数）的闲置自有资金进行现金 管理。进行现金管理的闲置自有资金在此额度内可循环滚动使用，但任一时点 投资余额不得超出上述投资额度。 履行的审议程序：公司于 2025 年 2 月 21 日召开第二届董事会审计委员 会第九次会议、第二届董事会第十二次会议和第二届监事会第十次会议，审议 通过了《关于使用部分闲置自有资金进行现金管理的议案》。本事项在董事会审 批权限内，无需提交公司股东大会审议。 特别风险提示：公司及子公司拟购买安全性高、流动性好的理财产品， 总体风险可控，但不排除该项投资受到市场波动的影响，公司及子公司将遵循 ...

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。 证券代码：603170 证券简称：宝立食品 公告编号：2025-003 上海宝立食品科技股份有限公司 关于公司及子公司向银行申请综合授信额度的公告 根据公司相关规定，本次向银行申请综合授信额度的事项在董事会审批权 限内，无需提交公司股东大会审议。 特此公告。 上海宝立食品科技股份有限公司董事会 2025 年 2 月 22 日 上海宝立食品科技股份有限公司（以下简称"公司"）于 2025年 2月 21日 召开第二届董事会第十二次会议，审议通过了《关于公司及子公司向银行申请 综合授信额度的议案》。具体情况如下： 因经营发展需要，结合公司当前的生产经营和资金需求状况，公司及合并 报表范围内子公司拟向银行等金融机构申请不超过人民币 200,000万元（含本数） 的综合授信额度（在不超过总授信额度范围内，最终以各银行实际审批的授信 额度为准）。本授信属于信用综合授信，不涉及对外担保方式。授信业务范围包 括但不限于银行贷款、银行承兑汇票、保函、票据贴现等，授信具体业务品种 以金融机构最终核定 ...