Group 1 - The company is shifting from a reliance on large B2B clients in the restaurant sector to a "selective supermarket customization" strategy, collaborating deeply with retailers like Sam's Club, Walmart, and Hema to launch customized products [1] - In Q3 2025, revenue from supermarket channels reached 220 million, a year-on-year increase of 28.1%, with this model becoming a clear new performance engine due to low costs, rapid development, and high premiums [1] - The company is adopting a product-driven approach, focusing on high-margin, high-value consumer products to stimulate the existing market and lead consumption trends, while also expanding into the frozen baking sector through acquisitions [1] Group 2 - The company is implementing a "de-involution" strategy, emphasizing "not engaging in unprofitable activities" and replacing "cost reduction" with "quality improvement" to optimize market competition [1] - The company has established a total cost leadership advantage through supply chain, logistics, and flexible production, with raw material and logistics costs below industry levels, supported by 12 production bases for flexible capacity allocation [1] - The company has formed a comprehensive distribution matrix involving distributors, specialty channels, and new retail/e-commerce to effectively diversify risks and drive growth [1] Group 3 - The company is projected to achieve revenues of 15.944 billion, 17.338 billion, and 18.836 billion from 2025 to 2027, with year-on-year growth rates of +5.4%, +8.7%, and +8.6% respectively [2] - The net profit attributable to the parent company is expected to be 1.419 billion, 1.621 billion, and 1.789 billion for the same period, with a year-on-year change of -4.5%, +14.2%, and +10.4% respectively [2] - The company is expected to maintain a dividend payout ratio of 70% in 2024, with a first-time coverage rating of "buy" [2]

Core Points - The company announced the election of joint chairmen Zhang Qingmiao and Zhang Gaolu for the fifth board of directors, effective from November 28, 2025, until the term of the fifth board ends [1][1][1] - Zhang Gaolu's previous position as vice chairman will automatically terminate upon his election as joint chairman [1][1][1] - The company also held its first employee representative meeting on November 28, 2025, where Zhang Guangxi was elected as an employee representative director for the fifth board, effective until the board's term ends [1][1][1]

Group 1: Economic Indicators and Consumer Trends - The CPI in October showed a slight improvement, with a year-on-year increase of 0.2% and a month-on-month increase of 0.2%, indicating a potential recovery trend that may continue into the first half of next year [6][10] - The retail sales of consumer goods in October reached 46,291 billion yuan, growing by 2.93% year-on-year, with significant improvements in essential consumption categories such as food and beverages [10] - The restaurant sector saw a monthly revenue of 5,199 billion yuan in October, reflecting a year-on-year growth of 3.8%, driven by the National Day and Mid-Autumn Festival holidays [10] Group 2: Frozen and Food Supply Industry - The frozen food and catering industry is witnessing a shift from price wars to product innovation and channel development, with companies focusing on quality and service rather than just price competition [11] - Major players like Anjiyuan and Qianwei Central Kitchen are transitioning their strategies to emphasize product quality and operational efficiency, leading to improved profitability [11][15] - The industry is entering a "hard strength reshuffle period," where companies are expected to enhance their product offerings and service capabilities to maintain competitiveness [11] Group 3: Snack Food Sector - The snack food sector is experiencing a weak recovery, with a clear differentiation in growth among brands and channels, driven by strategic adjustments and product innovations [33][34] - The emergence of the konjac category as a significant growth driver, with market potential expected to reach 300 billion yuan by 2025, indicates a strong consumer demand for healthy snacks [34][40] - Companies like Yummy Foods and Salted Fish are leveraging their core products and channel strategies to achieve substantial growth, with a focus on high-margin products and efficient cost management [34][42] Group 4: Specific Company Strategies - Anjiyuan is focusing on high-margin products and channel expansion, with significant growth in its core offerings like volcanic stone grilled sausages and high-end dumplings [12][13] - Qianwei Central Kitchen is seeing improvements in its direct sales and distribution channels, with a focus on enhancing profitability through strategic adjustments in customer structure and resource allocation [15][18] - Salted Fish is capitalizing on the konjac trend and optimizing its product mix to improve profitability, with a strong emphasis on high-margin products and efficient channel management [40][41]

Core Viewpoint - An announcement was made by Anjuke Food (02648) regarding the election of co-chairmen for the fifth board of directors, indicating a significant leadership change within the company [1] Group 1: Board Elections - The board of directors approved the election of Mr. Zhang Qingmiao and Mr. Zhang Gaolu as co-chairmen during the 25th board meeting held on November 28, 2025 [1] - The term for the newly elected co-chairmen will last until the end of the fifth board's term [1] - Mr. Zhang Gaolu's appointment as co-chairman results in the automatic termination of his previous role as vice chairman [1] Group 2: Employee Representation - The company held its first employee representative meeting of 2025 on November 28, 2025 [1] - Mr. Zhang Guangxi was elected as the employee representative director for the fifth board, with a term lasting until the end of the fifth board's term [1]

北京商报讯（记者 陶凤 王悦彤） 11月28日，安井食品发布公告称，公司召开第五届董事会第二十五次 会议，会上审议通过选举张清苗、章高路为公司第五届董事会联席董事长，任期自董事会审议通过之日 起至第五届董事会任期届满之日止。章高路担任联席董事长后，其原任公司副董事长职务自动终止。 ...

每经头条（nbdtoutiao）——已有75人遇难，1名死者为消防员，还有10名消防员受伤！记者现场直击香 港大埔火灾：燃烧的宏福苑，五级大火的五个谜团 每经AI快讯，安井食品（SH 603345，收盘价：81.45元）11月28日晚间发布公告称，公司第五届第二十 五次董事会会议于2025年11月28日在公司会议室以现场加通讯的方式召开。会议审议了《关于选举联席 董事长的议案》等文件。 （记者 张明双） 截至发稿，安井食品市值为271亿元。 2024年1至12月份，安井食品的营业收入构成为：工业占比100.0%。 ...

证券代码：603345 证券简称：安井食品 公告编号：临 2025-075 关于调整 2025 年度日常关联交易预计额度的公告 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： 本议案无须提交公司股东会审议。 本次调整 2025 年度日常关联交易预计额度对公司的主营业务、财务状况 和经营成果不构成重大影响，不会因此类交易而对关联人形成较大依赖。 一、 日常关联交易基本情况 安井食品集团股份有限公司 安井食品集团股份有限公司（以下简称"公司"）于 2025 年 4 月 25 日召开 第五届董事会第十八次会议，审议通过了《关于 2024 年度日常关联交易执行情 况及 2025 年度日常关联交易预计的议案》，其中向北海合缘食品有限公司（以下 简称"北海合缘"）购买商品及出售商品额度分别为 40,000.00 万元、1,000.00 万 元。详见公司于 2025 年 4 月 29 日披露的《安井食品关于 2024 年度日常关联交 易执行情况及 2025 年度日常关联交易预计的公告》（公告编号：临 2025-016）。 （ ...

证券代码：603345 证券简称：安井食品 公告编号：临 2025-074 安井食品集团股份有限公司 关于选举联席董事长、职工代表董事 及调整部分董事会专门委员会委员的公告 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。 根据公司修订后的《公司章程》规定，本公司董事会中职工代表担任董事的 名额为 1 名，通过职工代表大会等形式民主选举产生，无需提交股东会审议。另 有关取消监事会及修订《公司章程》的议案已获股东于临时股东会批准生效，本 公司第五届监事会各监事已退任。 公司于 2025 年 11 月 28 日召开 2025 年第一次职工代表大会，选举张光玺先 生（简历详见附件）担任公司第五届董事会职工代表董事，任期自职工代表大会 选举通过之日起至第五届董事会届满之日止。张光玺先生就任董事后，公司第五 届董事会中兼任高级管理人员职务的董事以及由职工代表担任的董事，总计不超 过公司董事总数的二分之一，符合有关法律、法规、规范性文件及《公司章程》 的规定。 三、 调整部分董事会专门委员会委员情况 为全面贯彻、落实《中华人民共和国公司法》 ...

证券代码：603345 证券简称：安井食品 公告编号：临 2025-072 安井食品集团股份有限公司 2025年第一次临时股东会决议公告 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： 本次会议是否有否决议案：无 一、 会议召开和出席情况 (三) 出席会议的普通股股东和恢复表决权的优先股股东及其持有股份情 况： | 1. 出席会议的股东和代理人人数 | 727 | | --- | --- | | 其中：A 股股东人数 | 726 | | 股） 境外上市外资股股东人数（H | 1 | | 2. 出席会议的股东所持有表决权的股份总数（股） | 128,979,231 | | 其中：A 股股东持有股份总数 | 126,148,531 | | 境外上市外资股股东持有股份总数（H 股） | 2,830,700 | | 出席会议的股东所持有表决权股份数占公司有表决权股份总数 3. | 38.83% | | 的比例（%） | | | 其中：A 股股东持股占股份总数的比例（%） | 37.98% | | 境外上市外资股股东持股 ...

安井食品集团股份有限公司 第五届董事会第二十五次会议决议公告 证券代码：603345 证券简称：安井食品 公告编号：临 2025-073 具体内容详见公司同日刊登在上海证券交易所网站（www.sse.com.cn）的《安 井食品关于选举联席董事长、职工代表董事及调整部分董事会专门委员会委员的 公告》。 二、审议通过《关于调整部分董事会专门委员会委员的的议案》 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 11 月 28 日在 公司会议室以现场加通讯的方式召开第五届董事会第二十五次会议。公司于召开 会议前依法通知了全体董事，会议通知的时间及方式符合国家有关法律、法规及 公司章程的规定。会议由董事长刘鸣鸣主持，应出席董事 11 名，实际出席董事 11 名。经董事一致同意，形成决议如下： 一、审议通过《关于选举联席董事长的议案》 表决结果：11 票赞成；0 票反对；0 票弃权。 根据公司 2025 年 11 月修订的《公司章程》规定，公司董事会设置董事长 1 人，联席董 ...