证券代码：603317 证券简称：天味食品 公告编号：2026-001 四川天味食品集团股份有限公司 关于股份回购进展公告 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。 重要内容提示： | 回购方案首次披露日 | 2025/4/30 | | | | | | | --- | --- | --- | --- | --- | --- | --- | | 回购方案实施期限 | 2025 年 4 月 4 | 29 | 日~2026 | 年 | 月 | 28 日 | | 预计回购金额 | 1,800万元~3,600万元 | | | | | | | | □减少注册资本 √用于员工持股计划或股权激励 | | | | | | | 回购用途 | □用于转换公司可转债 | | | | | | | | □为维护公司价值及股东权益 | | | | | | | 累计已回购股数 | 1,390,920股 | | | | | | | 累计已回购股数占总股本比例 | 0.1306% | | | | | | | 累计已回购金额 | 16,445,498.20元 ...

证券日报网讯 12月30日，天味食品发布公告称，公司于2025年8月27日召开2024年员工持股计划管理委 员会第八次会议、第六届董事会第五次会议，并于2025年10月16日召开2025年第二次临时股东会审议通 过《关于回购注销2024年员工持股计划部分股份的议案》，同意将9名持有人因个人原因离职及4名持有 人因业绩未完全达标，其尚未解锁份额对应的281，500股股票回购注销。上述股份已于2025年12月19日 完成注销，公司股本由1，064，996，294股变更为1，064，714，794股。近日，公司就上述注册资本变 更事项进行了工商变更登记，并取得了变更后的营业执照。 （文章来源：证券日报） ...

Core Viewpoint - The seasoning and fermentation products sector experienced a decline of 0.37% on December 30, with Anji Food leading the drop [1] Group 1: Market Performance - The Shanghai Composite Index closed at 3965.12, down 0.0%, while the Shenzhen Component Index closed at 13604.07, up 0.49% [1] - The main stocks in the seasoning and fermentation sector showed mixed performance, with Anji Food falling by 10.01% to a closing price of 21.21 [2] Group 2: Trading Volume and Value - Anji Food had a trading volume of 371,300 shares and a transaction value of 800 million yuan, indicating significant trading activity despite the price drop [2] - The overall sector saw a net outflow of 147 million yuan from main funds, while retail investors contributed a net inflow of 123 million yuan [2] Group 3: Individual Stock Performance - Stocks such as Zhu Laoliu and Zhongju Gaoxin showed slight increases of 0.77% and 0.52%, respectively, while others like ST Jiajia and Zhongjing Food experienced minor declines [1][2] - The net inflow of funds varied across stocks, with notable inflows into stocks like Tianwei Food and Baoli Food, while others like ST Jiajia and Hengshun Vinegar faced outflows [3]

证券代码：603317 证券简称：天味食品 公告编号：2025-117 四川天味食品集团股份有限公司（以下简称"公司"）于 2025 年 8 月 27 日召开 2024 年员工持股计划管理委员会第八次会议、第六届董事会第五次会议， 并于 2025 年 10 月 16 日召开 2025 年第二次临时股东会审议通过《关于回购注销 2024 年员工持股计划部分股份的议案》，同意将 9 名持有人因个人原因离职及 4 名持有人因业绩未完全达标，其尚未解锁份额对应的 281,500 股股票回购注销。 上述股份已于 2025 年 12 月 19 日完成注销，公司股本由 1,064,996,294 股变更为 1,064,714,794 股。 以上事项的具体内容详见公司刊登在上海证券交易所网站（www.sse.com.cn） 及《中国证券报》《上海证券报》《证券时报》《证券日报》的相关公告。 近日，公司就上述注册资本变更事项进行了工商变更登记，并取得了变更 后的营业执照，具体情况如下： | 公司名称 | 四川天味食品集团股份有限公司 | | --- | --- | | 统一社会信用代码 | 915101007978308873 ...

Core Viewpoint - The China Securities Regulatory Commission (CSRC) has announced supplementary material requirements for overseas listing applications from 34 companies, indicating a focus on compliance and regulatory scrutiny in the context of international capital markets [1]. Group 1: Company-Specific Requirements - Zhizhu Huazhang is required to clarify the ownership and evaluation of intellectual property rights related to its technology, as well as the background of its shareholders and the compliance of its overseas subsidiaries [2][3]. - Hailan Home must provide details on the debt repayment capabilities of its controlling shareholders and the implications of share pledges on control changes [4][10]. - Pulaia is asked to explain the compliance of its subsidiaries' operations in the cultural and entertainment sectors with foreign investment regulations [5][28]. - Sunshine Power needs to clarify its industrial internet and big data services, including necessary qualifications and compliance with foreign investment restrictions [6][35]. - The company Haipai Ke is required to explain the pricing and compliance of its recent acquisitions and the operational compliance of its payment settlement model [7][36]. Group 2: Regulatory Compliance and Governance - Companies are required to provide legal opinions on the compliance of their shareholding structures, including any potential issues related to shareholding changes and the implications for control [10][12]. - Companies must clarify the rationale behind share pricing discrepancies among new shareholders and assess whether there are any signs of profit transfer [12][30]. - The necessity of obtaining necessary licenses for various business operations, especially in sectors with foreign investment restrictions, is emphasized [5][28][35]. Group 3: Financial and Operational Transparency - Companies are required to disclose the specific uses of raised funds, including the proportion allocated for domestic and overseas investments, and ensure compliance with relevant approval processes [20][30]. - The need for companies to clarify their business models, especially those involving AI and big data, is highlighted, including the specific applications and functionalities [6][32]. - Companies must provide updates on any ongoing litigation or regulatory issues that may impact their operations or listing processes [20][36].

会议资料 证券代码：603317 四川天味食品集团股份有限公司 2026 年第一次临时股东会 2026 年 1 月 6 日 | 一、2026 | 年第一次临时股东会会议须知 2 | | | --- | --- | --- | | 二、2026 | 年第一次临时股东会议程 3 | | | 三、会议议案 | | | | 议案 | 1：关于注销《增值电信业务经营许可证》的议案 4 | | | 议案 | 2：关于修改公司经营范围并修订《公司章程》的议案 | 5 | 2026 年第一次临时股东会会议须知 为了维护全体股东的合法权益，确保股东会的正常秩序和议事效率，保证股 东会的顺利进行，根据《公司法》和《公司章程》等有关规定，制定以下会议须 知。 1、 为能及时统计出席会议的股东（股东代理人）所代表的持股总数，做好 会务接待工作，希望拟参加本次股东会现场会议的各位股东配合公司做好登记工 作，并请登记出席股东会的各位股东准时出席会议。 2、 为保障会议秩序、提高会议效率、保护公司和股东的合法权益，除出席 会议的股东（股东代理人）、公司董事、高级管理人员、公司聘任律师及董事会 邀请的人员和相关工作人员外，公司有权依法拒绝其 ...

Core Insights - Central enterprises are expected to enhance their roles in serving the national economic development and improving people's livelihoods, contributing significantly to China's modernization efforts [1] Group 1: Strengthening Scale and Capability - Central enterprises have seen their total assets exceed 90 trillion yuan, with significant advancements in various sectors, including the successful operation of the world's first commercial supercritical carbon dioxide power generation unit and the launch of the largest green hydrogen-ammonia integrated project [2] - The cumulative R&D expenditure of central enterprises has surpassed 5 trillion yuan, with an annual investment growth rate in emerging industries exceeding 20% [2] - The number of technology talents in central enterprises has increased by nearly 50%, enhancing their scale, value creation capabilities, and brand influence [2] Group 2: Industrial Upgrading and Innovation - Central enterprises are focusing on technological innovation to drive industrial transformation, with 438 technology breakthroughs achieved this year [3] - The implementation of the "Artificial Intelligence +" initiative has led to over 800 application scenarios and the establishment of 1,854 smart factories [3] - During the "14th Five-Year Plan" period, energy consumption per unit of output and carbon dioxide emissions per unit of output have decreased by 12.8% and 13.9%, respectively [3] Group 3: Strategic Function and Governance - The establishment of 9 new central enterprises has been completed as part of the deepening reform of state-owned enterprises, with a focus on strategic restructuring [4] - The management levels of central enterprises are now controlled within four tiers, improving management efficiency and transparency [5] - The State-owned Assets Supervision and Administration Commission (SASAC) has implemented a more scientific regulatory approach, including a tailored assessment for each enterprise and the establishment of a national property information database [5]

Market Overview - The seasoning and fermentation sector increased by 0.17% compared to the previous trading day, with Richen Co., Ltd. leading the gains [1] - The Shanghai Composite Index closed at 3959.62, up 0.47%, while the Shenzhen Component Index closed at 13531.41, up 0.33% [1] Stock Performance - Richen Co., Ltd. (603755) closed at 37.28, up 6.67% with a trading volume of 39,700 lots and a transaction value of 145 million [1] - Lianhua Holdings (600186) closed at 5.93, up 1.02% with a trading volume of 592,300 lots and a transaction value of 350 million [1] - ST Jiajia (002650) closed at 6.72, up 0.60% with a trading volume of 61,500 lots and a transaction value of 40.68 million [1] - Tianwei Food (603317) closed at 12.61, up 0.56% with a trading volume of 38,900 lots and a transaction value of 49.14 million [1] - Other notable stocks include Jieling Pickles (002507) at 13.16, up 0.38%, and Qianhe Flavor Industry (603027) at 9.81, up 0.20% [1] Capital Flow - The seasoning and fermentation sector experienced a net outflow of 162 million from institutional investors, while retail investors saw a net inflow of 113 million [2] - The sector's overall capital flow indicates a mixed sentiment, with institutional investors withdrawing funds while retail investors are actively buying [2] Individual Stock Capital Flow - Richen Co., Ltd. had a net inflow of 20.38 million from institutional investors, but a net outflow of 17.56 million from retail investors [3] - Qianhe Flavor Industry saw a net inflow of 373,540 from institutional investors, but a net outflow of 295,030 from retail investors [3] - Other stocks like Jiajia Co. (002495) and Tianwei Food (603317) also showed varied capital flows, indicating differing investor sentiments across the sector [3]

Core Viewpoint - Different consumer sectors exhibit both differences and commonalities in recovery rhythms, with ROA being a leading indicator for operational recovery in consumer enterprises [1][2] Group 1: Recovery Rhythm Analysis - The recovery rhythm of various consumer sectors is influenced by industry supply and demand, as well as supply chain structures, with a focus on stock market competition as a mainstream phenomenon [2] - The stages of enterprise and channel adjustments are outlined, starting from oversupply to a new balance in supply and demand, with ROA serving as a key indicator throughout these stages [2] - Current recovery sequences indicate that soft drinks and snacks are leading, followed by food supply chains, condiments, dairy products, beer, and finally, liquor [2][3] Group 2: Investment Strategy - Emphasis on sectors where ROA stabilizes, indicating potential valuation recovery opportunities, with a preference for sectors that still show price or volume growth [3] - Price logic suggests that rising CPI may drive valuation recovery in traditional industries with high penetration rates, such as liquor, beer, and dairy products, which are likely to attract incremental capital [3][4] - Recommended companies in the liquor sector include Kweichow Moutai, Luzhou Laojiao, and Shanxi Fenjiu, while in dairy, focus on Yili and Mengniu [3] Group 3: Volume Logic - In the context of cost-effective consumption, companies with high supply chain efficiency are expected to gain volume, with specific recommendations for companies in the food supply chain and soft drinks [4] - Industries with low penetration rates may withstand economic cycles, with recommendations for low-alcohol beverages and functional foods that can enhance brand premium through specialization [4] - Companies benefiting from overseas market expansion include Angel Yeast and Bailong Chuangyuan [4]

Group 1: Core Insights - The report emphasizes the recovery stage of consumer spending, highlighting that different sectors exhibit both commonalities and differences in their recovery rhythms, driven by supply-demand dynamics and industry structure [4][5] - ROA (Return on Assets) is identified as a leading indicator for the operational recovery of consumer companies, with a focus on analyzing various sub-sectors [4][13] Group 2: Sector Performance - The current recovery sequence indicates that soft drinks and snacks are leading, followed by the catering supply chain, condiments, dairy products, beer, and finally, liquor [5][25] - The report draws parallels with Japan's 1990s consumption differentiation, noting that sectors addressing consumer pain points and with low penetration rates are likely to succeed [5][6] Group 3: Investment Strategy - The report suggests focusing on sectors where ROA is stabilizing, indicating potential valuation recovery opportunities, particularly in traditional sectors like liquor, beer, and dairy [6][8] - It recommends identifying sub-sectors with either price or volume growth, with a preference for price-driven strategies [6][8] Group 4: Detailed Sector Analysis - The frozen food sector is showing signs of marginal improvement, with leading companies enhancing operational efficiency through product innovation and channel reforms [27][28] - The snack sector is experiencing high demand, driven by new channel developments, although competition is intensifying [33][35] - The beer industry is under pressure, with a focus on high-end products, but overall growth is slowing due to external economic factors [39][41] - The dairy sector is nearing the end of its adjustment phase, with expectations of improved performance as raw milk prices rise [41][42] - The liquor sector is currently in a phase of inventory reduction, with performance risks gradually clearing as channels stabilize [43][48]