为落实《中华人民共和国公司法（2023 年修订）》、中国证监会《关于新 公司法配套制度规则实施相关过渡期安排》的相关工作要求，公司已取消监事 会，由公司董事会审计委员会行使《公司法》规定的监事会职权。 公司已于近日完成工商变更、备案登记手续，并取得厦门市市场监督管理 局换发的《营业执照》，相关信息如下： 证券代码：603345 证券简称：安井食品 公告编号：临 2025-078 安井食品集团股份有限公司 关于完成工商变更、备案并换发营业执照的公告 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。 安井食品集团股份有限公司（以下简称"公司"）于 2025 年 8 月 1 日、 2025 年 11 月 10 日、2025 年 11 月 28 日分别召开第五届董事会第二十次会议、 第五届董事会第二十四次会议及 2025 年第一次临时股东会，审议通过了《关于 变更公司注册资本及修订<公司章程>的议案》《关于取消监事会及修订<公司 章程>的议案》。公司因在香港联合交易所有限公司主板上市并发行了 39,994,700 股 H 股股份，总股本 ...

Core Viewpoint - Anjiu Food has reached a performance inflection point, with ongoing recovery in its business performance, driven by diversified innovation and channel structure upgrades [1] Group 1: Financial Performance - In Q3 2025, the company's revenue increased by 6.6% year-on-year, while net profit attributable to shareholders grew by 11.8%, marking a return to positive growth [1] - The gross profit margin has improved year-on-year, indicating significant enhancement in profitability [1] Group 2: Strategic Initiatives - The company is shifting from a "channel-driven" approach to a "new product-driven" strategy, focusing on core products such as fresh-keeping packaging, shrimp slices, and grilled sausages [1] - New strategic business areas, including frozen baking and halal food, are poised for growth [1] Group 3: Market Position and Competitive Landscape - The industry competition is easing, allowing the company to solidify its leading position in the frozen food sector [1] - The company's channel strategy, which balances traditional and new retail channels, has created a comprehensive matrix that effectively diversifies risks and drives growth [1]

Summary of the Conference Call for Anjuke Food Company Overview - **Company**: Anjuke Food - **Industry**: Frozen Food Industry Key Points and Arguments Financial Performance - In Q4, Anjuke Food's performance exceeded expectations, maintaining a growth rate of 10% as of December 22, despite a high base from the previous year [2][3] - The company experienced a 20% revenue growth in September, with double-digit growth in October and November, indicating a healthy market performance [3] Strategic Shift - The company is shifting its strategy from channel-driven to product-driven, launching multiple new products that mostly met or exceeded expectations [2][6] - A total of 35 to 40 new products were introduced this year, with significant growth in the grilled sausage segment exceeding 60% [9] Market Opportunities - The Southeast Asian frozen food market is rapidly growing, with a low CR5 market share of less than 5%, presenting significant opportunities for expansion [7] - Plans to acquire local brands to penetrate the European and American markets are underway [7] New Product Development - The company launched the "Lock Fresh 6.0" product line in December, which has shown significant improvements in appearance, weight, and quality, maintaining double-digit growth since its introduction in 2019 [4][11] - Future product development will focus on low GI products and customization for various market segments [11] Halal Food Strategy - Anjuke Food has established a new factory in Henan aimed at producing halal food, targeting the Northwest and Southeast Asian markets [8][13] - The company has acquired the "Anzhai" trademark to develop a dedicated halal food brand and plans to apply for halal certification in Malaysia and Indonesia [8][14] Competitive Landscape - The frozen food industry is transitioning from perfect competition to monopolistic competition, with Anjuke Food outperforming its peers in sales growth and profitability [9] - Many competitors are experiencing stagnation or losses, highlighting Anjuke's competitive advantage [9] Customization and Retail Strategy - The company is embracing customized production for supermarkets, collaborating with major retailers like Yonghui and Hema to provide differentiated products [12] - This strategy aims to adapt to market changes and enhance growth opportunities while maintaining quality control [12] Future Outlook - The first quarter of the next year is expected to be influenced by the Spring Festival, with a focus on maintaining growth despite potential challenges [4] - Increased R&D investment and incentive mechanisms are planned to improve the success rate of new products [10] Profitability and Cost Control - New products are positioned for high margins to adapt to changing consumer preferences, with profit levels exceeding 40% for certain items [16][17] Additional Important Information - The company is aware of the complexities of halal certification in China and plans to build brand recognition without relying solely on certification [14] - The frozen baking segment, particularly after acquiring Dingwei Thai, is seen as a blue ocean market with higher profit margins compared to other frozen food segments [15]

中信建投证券股份有限公司 关于安井食品集团股份有限公司 非公开发行股票部分募投项目增加实施主体的核查意见 中信建投证券股份有限公司（以下简称"中信建投证券"或"保荐人"）作 为安井食品集团股份有限公司（以下简称"安井食品"或"公司"）的保荐人， 根据《证券发行上市保荐业务管理办法》《上市公司募集资金监管规则》《上海证 券交易所股票上市规则》和《上海证券交易所上市公司自律监管指引第 1 号—— 规范运作》等有关规定，对安井食品本次非公开发行股票部分募投项目增加实施 主体的事项进行了审慎核查，核查情况如下： 截至 2025 年 12 月 15 日，"2022 年非公开发行股票"募集资金投资项目及 募集资金使用情况如下： 单位：万元 1 | 项目名称 | 投资总额 | 募集资金拟 | 募集资金累 | | --- | --- | --- | --- | | | | 投入金额 | 计投入金额 | | 广东安井年产 13.3 万吨速冻食品新建项目 | 71,600.00 | 55,600.00 | 57,244.39 | | 山东安井年产 万吨速冻食品新建项目 20 | 105,400.00 | 60,400.00 | ...

证券代码：603345 证券简称：安井食品 公告编号：临 2025-077 安井食品集团股份有限公司 关于非公开发行股票部分募投项目增加实施主体的公告 二、 募投项目基本情况 截至 2025 年 12 月 15 日，"2022 年非公开发行股票"募集资金投资项目及募 集资金使用情况如下： | 项目名称 | 投资总额 | 募集资金拟 | 募集资金累 | | --- | --- | --- | --- | | | | 投入金额 | 计投入金额 | | 广东安井年产 万吨速冻食品新建项目 13.3 | 71,600.00 | 55,600.00 | 57,244.39 | | 山东安井年产 万吨速冻食品新建项目 20 | 105,400.00 | 60,400.00 | 64,312.05 | | 河南三期年产 14 万吨速冻食品扩建项目 | 73,000.00 | 54,959.00 | 43,572.82 | | 泰州三期年产 万吨速冻食品扩建项目 10 | 52,000.00 | 52,000.00 | 27,030.67 | | 辽宁三期年产 14 万吨速冻食品扩建项目 | 72,800.00 | 1,87 ...

安井食品公告称，公司2021年通过非公开发行股票募集资金56.75亿元，净额56.35亿元。截至2025年12 月15日，"2022年非公开发行股票"募投项目累计投入44.35亿元。为满足市场需求、推进海外业务布 局，公司拟增加河南安井全资子公司河南安斋作为"河南三期项目"实施主体，该项目仍由河南安井负责 建设，涉及河南安斋运营的厂房及设备将内部租赁。2025年12月22日，公司董事会审议通过该议案，保 荐人对此无异议。 ...

Investment Rating - The report maintains a "Buy" rating for high-end liquor companies and recommends several key stocks in the food and beverage sector [6][8]. Core Insights - The report emphasizes the importance of expanding domestic demand as a strategic initiative for economic stability and security, with government agencies prioritizing this in 2026 [6][8]. - Despite recent price fluctuations in high-end liquor, the report anticipates a recovery in the sector, projecting a potential turning point in fundamentals by Q3 2026 [6][8]. - The report identifies systemic opportunities in consumer goods, particularly in the food sector, with a focus on CPI as a core observation indicator [6][8]. Summary by Sections 1. Weekly Insights on Food and Beverage - The food and beverage sector saw a 1.05% increase last week, with the liquor segment declining by 0.58% [5]. - The report ranks the food and beverage sector 13th among 31 sub-industries in terms of performance [5]. 2. Market Performance of Food and Beverage Segments - The report highlights the recent price movements of key liquor brands, including Moutai and Wuliangye, with Moutai's bottle price increasing by 45 RMB to 1545 RMB [7][30]. - Wuliangye is focusing on optimizing its product matrix and channel strategies to enhance long-term growth [7]. 3. Industry Matters - The report discusses the expected improvement in the supply-demand dynamics of the dairy industry in 2026, recommending stocks like Yili and New Hope Dairy [8][9]. - It also notes the high dividend yield of Hai Tian Wei Ye, projecting a dividend payout of 17.54 billion RMB [9][26]. 4. Valuation Table - The food and beverage sector's dynamic PE is reported at 20.10x, with a premium rate of 24% [30]. - The liquor segment's dynamic PE stands at 18.49x, with a premium rate of 14% [30].

Investment Rating - The report maintains a positive outlook on the food and beverage industry, particularly emphasizing the strategic importance of expanding domestic demand and consumption [3][8]. Core Insights - The report highlights the importance of expanding domestic demand as a strategic initiative for economic stability and security, with government agencies prioritizing this in their upcoming plans [3][8]. - Despite recent price fluctuations in high-end liquor, the report anticipates a recovery in the market, projecting a potential turning point in fundamentals by Q3 2026 [3][8]. - The report recommends several high-quality liquor companies for long-term investment, including Luzhou Laojiao, Shanxi Fenjiu, Guizhou Moutai, and Wuliangye, while also suggesting attention to other brands [3][8]. - For consumer goods, the report identifies opportunities in sectors like seasoning, frozen foods, and dairy, recommending companies such as Anjuke Foods, Yili, and QD Beer [3][8]. Summary by Sections 1. Weekly Insights on Food and Beverage - The food and beverage sector saw a 1.05% increase last week, with liquor experiencing a slight decline of 0.58% [7]. - The report ranks the food and beverage sector 13th among 31 sub-industries in terms of performance [7]. 2. Market Performance of Food and Beverage Sectors - The report provides detailed price updates for major liquor brands, noting Moutai's bottle price at 1545 RMB, a week-on-week increase of 45 RMB, and Wuliangye's price remaining stable at approximately 780 RMB [9][35]. - The report emphasizes the need for liquor companies to optimize their product matrices and channels to adapt to external pressures [9]. 3. Industry Matters - The report discusses the anticipated improvement in food CPI due to structural demand changes and a shift from price competition to quality competition among companies [3][8]. - It highlights the expected gradual recovery in the dairy sector, with recommendations for Yili and New Dairy [10][11]. 4. Valuation Table - The report notes the current dynamic PE for the food and beverage sector at 20.10x, with a premium rate of 24%, and for liquor at 18.49x, with a premium rate of 14% [35].

Group 1 - The core viewpoint of the news is that Anjuke Foods has shown a positive stock performance with a 6.89% increase year-to-date and a significant rise in recent trading days, indicating investor interest and market confidence [1][3]. - As of December 19, Anjuke Foods' stock price reached 83.48 yuan per share, with a market capitalization of 27.823 billion yuan and a trading volume of 293 million yuan [1]. - The company has experienced a net inflow of main funds amounting to 5.9767 million yuan, with significant buying activity from large orders [1]. Group 2 - Anjuke Foods, established on December 24, 2001, and listed on February 22, 2017, specializes in the research, production, and sales of frozen foods, including various types of fish products and frozen dishes [2]. - The company's revenue composition includes 49.43% from frozen prepared foods, 31.77% from frozen dishes, and 16.32% from frozen noodle and rice products, indicating a diverse product range [2]. - As of September 30, the number of shareholders increased to 63,200, while the average circulating shares per person decreased significantly [3]. Group 3 - Anjuke Foods has distributed a total of 3.219 billion yuan in dividends since its A-share listing, with 2.521 billion yuan distributed over the past three years [4]. - The top ten circulating shareholders include Hong Kong Central Clearing Limited and Zhonggeng Value Pioneer Stock, with notable changes in their holdings [4].

Market Overview - The food processing sector increased by 0.15% on December 18, with Chunxue Food leading the gains [1] - The Shanghai Composite Index closed at 3876.37, up 0.16%, while the Shenzhen Component Index closed at 13053.98, down 1.29% [1] Individual Stock Performance - Chunxue Food (605567) closed at 10.96, up 2.81% with a trading volume of 55,100 shares and a transaction value of 60.24 million yuan [1] - Sanyuan Food (002216) closed at 11.65, up 2.46% with a trading volume of 101,400 shares and a transaction value of 118 million yuan [1] - Jiaoda Onl (600530) closed at 6.43, up 2.39% with a trading volume of 102,700 shares and a transaction value of 66.03 million yuan [1] - Xiwang Food (000639) closed at 3.29, up 2.17% with a trading volume of 846,100 shares and a transaction value of 278 million yuan [1] - Other notable performers include Babi Food (605338) at 28.48 (+2.08%), Xianle Health (300791) at 24.27 (+2.02%), and Zhihe Co. (603102) at 42.16 (+1.54%) [1] Capital Flow Analysis - The food processing sector experienced a net outflow of 210 million yuan from institutional investors, while retail investors saw a net inflow of 254 million yuan [2] - Notable stocks with significant capital flow include Haixin Food (002702) with a net outflow of 43.94 million yuan from institutional investors and a net inflow of 70.96 million yuan from retail investors [3] - Shuanghui Development (000895) had a net outflow of 35.49 million yuan from institutional investors but a net inflow of 33.17 million yuan from retail investors [3]