此外，绝味也充分学习Z世代"以圈划界"的消费习惯，擅长通过社交平台"玩梗"拉近距离。春节期间，绝味鸭脖请 来"霸总"李川以油腻情话告白消费者，主打一个" 5G 网感"冲浪，精准契合年轻人对幽默和反差的喜爱。更具代表 性的是与《哪吒2》的联动。借电影热映，绝味推出"哪吒破百亿，绝味藕片免费送"活动，将哪吒"藕"与自家藕片 巧妙结合，45分钟内送出10万份藕片，全网曝光量突破7.2亿，社交媒体互动超2万次。这些活动不仅引发热议， 还让品牌年轻化形象深入人心。 最后，绝味食品（603517.SH）的年轻化战略离不开AI技术的加持。19周年庆时，AI建议将主题从"向阳而生，绝 味19周年庆典"改为"19岁绝美青春"，并生成音乐、视频和文案物料，精准契合年轻人对青春和活力的共鸣，助推 话题热度。同时，由AI生成的油画风格扑克牌周边更是成为年轻人追捧的潮流单品，将"鲜辣"融入年轻人的生活 场景。 如果用一个词来形容绝味鸭脖的营销策略，那一定是"听劝"。近年来，绝味精准捕捉年轻人的社交语境，化消费 者声音为品牌动能。2024年，一句"你的脖子就是我的绝味"在《中国新说唱》中走红，网友调侃范丞丞的"天鹅 颈"与鸭脖的契合，绝 ...

Investment Rating - The report maintains a "Recommended" rating for the food and beverage industry, particularly highlighting opportunities in the liquor sector and food products [1] Core Insights - The liquor industry is undergoing extreme pressure testing, with a significant focus on inventory clearance and bottoming out of financial reports. The second quarter has shown weak demand due to seasonal factors and regulatory impacts, leading to a notable decline in sales and pricing pressures [5][10] - High-end liquor brands like Moutai are expected to maintain growth, while mid-tier brands face challenges with declining revenues and profits. The overall industry is in a deep clearance phase, with potential for recovery as regulations stabilize [5][12] - The consumer goods sector shows mixed performance, with snacks and beverages remaining strong, while other segments like frozen foods and chain restaurants face ongoing demand pressures [20][25] Summary by Sections 1. Liquor Sector - The liquor industry is experiencing extreme pressure, with weak demand in the second quarter and significant inventory levels. Major brands like Moutai and Wuliangye are expected to show modest growth, while others like Yanghe and Luzhou Laojiao are facing declines [5][11][12] - Moutai's revenue is projected to grow by 7% in Q2, while Wuliangye is expected to see a 1% increase. In contrast, brands like Yanghe and Luzhou Laojiao are forecasted to decline by 35% and 8% respectively [11][12] 2. Consumer Goods - The overall demand for consumer goods remains weak, but segments like snacks and beverages are performing well. For instance, East Peak is expected to see a 33% increase in revenue, while other snack brands are also showing positive trends [20][25] - The beverage sector is projected to see positive growth, with major brands like Qingdao Beer and Yanjing expected to report increases in revenue and profit [25][26] 3. Investment Recommendations - The report suggests focusing on high-performing stocks in the short term while considering long-term investments in liquor brands that are currently at their bottom. Brands like Moutai and Gujing are recommended for their lower risk profiles [7][8] - For consumer goods, companies like Anqi and East Peak are highlighted for their growth potential, while traditional dairy brands like Yili and Mengniu are suggested for a bundled investment approach [7][8]

当夜幕降临，城市的烟火气息渐浓，街角绝味鸭脖门店的灯光下，店员正将刚到的卤味摆上冷藏柜台。作为"卤味一哥"的绝味食品（维权）拥有万家终端 门店和百亿GMV的强大基本盘，在如此庞大的体量下，绝味食品如何确保产品口感的稳定统一与产出速度的迅速敏捷？ 这份深夜抚慰人心的"鲜香麻辣"，从生产到售卖，竟藏着一场与时间的赛跑——24 小时，从工厂到门店，全程冷链护航，让千万食客尝到的每一口都是 新鲜。这背后，正是绝味食品乃至中国卤味行业智能供应链的极致实践，也是支撑其庞大体量高效运转的核心密码。请跟随本文对绝味食品背后的供应链 体系如何运转一探究竟！ 门店里的24小时承诺 主持人带着疑问走进了一家绝味鸭脖门店，橱窗里琳琅满目的卤味正散发着诱人香气。"这些都是门店现做的吗？"面对这个常见问题，小李解释道："所 有产品由工厂统一生产，通过冷链保鲜，日配到店。您现在看到的鸭脖，凌晨还在工厂的卤制车间里呢。" 晚上10点，店员小李在报单系统上提交了第二天的订单，屏幕上跳动的数字，将在几小时后变成工厂的生产指令。面对央视网的镜头，小李自信地 说："从生产到门店，24小时内必达，这是我们对新鲜的承诺。" 为验证这个"24小时承诺"， ...

Core Viewpoint - The rise of Quzhou Duck Head stores across China contrasts sharply with the decline of major braised food brands, indicating a shift in consumer preferences towards more affordable and authentic options [5][6][20]. Group 1: Market Trends - Over 30,000 Quzhou Duck Head stores have opened nationwide, while major brands like Juewei Duck Neck, Zhou Hei Ya, and Huang Shang Huang are closing stores, with Juewei reducing from 16,000 to 12,000 locations in just two years [3][5]. - Zhou Hei Ya's store count dropped from nearly 4,000 to just over 3,000, a reduction of about 25%, while Huang Shang Huang decreased from 4,500 to 3,600 [5]. Group 2: Consumer Preferences - The decline of major brands is not due to a decrease in consumer interest in braised foods, as evidenced by the rapid expansion of Quzhou Duck Head [6]. - Quzhou Duck Head offers a more affordable price point, with items like duck necks priced around 6-7 yuan, significantly cheaper than competitors [23]. Group 3: Business Strategies - Major brands have attempted to upscale their offerings, leading to higher prices and reduced portion sizes, which has alienated consumers [11][12]. - The pricing strategy of major brands has resulted in a situation where their products can cost 70-100 yuan per kilogram, while Quzhou Duck Head maintains a more accessible pricing model [12][23]. Group 4: Product Differentiation - Quzhou Duck Head emphasizes "handmade fresh braising," contrasting with the mass-produced offerings of larger brands, which enhances its appeal [24]. - The visibility of the cooking process and the variety of ingredients available at Quzhou Duck Head stores create a more engaging consumer experience [24][25]. Group 5: Cultural and Regional Influences - Quzhou cuisine, known for its spiciness, is influenced by its geographical location at the intersection of several provinces, contributing to the unique flavor profile of Quzhou Duck Head [16][20]. - The traditional dish "Three Heads and One Palm," which includes duck heads, rabbit heads, and fish heads, reflects the rich culinary heritage of the region [18][19].

Group 1 - CITIC Construction Investment has received approval from the China Securities Regulatory Commission to issue perpetual subordinated bonds with a total face value of no more than 20 billion yuan [1] - Bluefocus Technology has received a loan commitment of up to 900 million yuan from CITIC Bank for stock repurchase [1] - Huaren Pharmaceutical's subsidiary has received approval for the listing of Bumetanide raw materials, which are used to treat severe heart failure and hypertension emergencies [3] Group 2 - Betta Pharmaceuticals has received approval for the listing of Enasidenib capsules in Macau, aimed at treating ALK-positive locally advanced or metastatic non-small cell lung cancer [4] - Juewei Food plans to use 110 million yuan of idle fundraising for cash management, with an expected annual yield of 1.00%-1.89% [6] - China Huadian has successfully completed the issuance of 1 billion yuan medium-term notes with a coupon rate of 1.95% [9] Group 3 - Fosun Pharma's subsidiary has received a GMP certificate from the Belgian Federal Agency for Medicines and Health Products for the production facilities of two monoclonal antibodies [11] - China Nuclear Engineering has signed a civil engineering contract for the Taishan Nuclear Power Units 3 and 4 [13] - Kanglongda has faced administrative regulatory measures from the Zhejiang Securities Regulatory Bureau due to the failure of performance commitment parties to fulfill compensation obligations [15] Group 4 - Gaoling Information has received three invention patent certificates in the second quarter, covering various technological fields [16] - Weimais plans to use 190 million yuan of excess fundraising to increase capital in its subsidiary for building a new energy vehicle powertrain production base [17] - Huazhong Technology has received a project designation notice from a leading eVTOL manufacturer for the development and supply of an intelligent cockpit multimedia display system [19] Group 5 - Madi Technology expects a net profit of 25 million to 27 million yuan for the first half of 2025, marking a turnaround from a loss in the previous year [19] - Dazhong Mining's subsidiary has obtained a mining license for the Zhouyoufang Iron Mine, increasing production capacity to 6.5 million tons per year [20] - Zhongguancun's subsidiary has had its application for the listing of Arolol hydrochloride tablets accepted by the National Medical Products Administration [21] Group 6 - Tianhong Co. has signed a property management contract worth 15 million yuan with a local company [22] - Dong'an Power has secured nine new market designation agreements in the second quarter, with a projected total sales volume of 1.5 million units [24] - Zhujiang Co. has appointed Zhao Kun as the new deputy general manager [25] Group 7 - Jinyi Industrial has won a bid for a project worth 335 million yuan from the China Railway Shanghai Bureau Group [26] - Kangchen Pharmaceutical has received a clinical trial notification for its innovative drug KC1086, aimed at treating advanced solid tumors [27] - Changhua Group has received a project designation notice from a new energy vehicle company, with an expected total sales amount of 970 million yuan [29] Group 8 - Lingxiao Pump Industry plans to use 60 million yuan of idle funds to purchase financial products [31] - Mould Technology has received a project designation for exterior parts from a well-known North American electric vehicle company, with an expected total sales of 1.236 billion yuan [34] - Fulongma has pre-bid for five sanitation service projects in June, with a total contract amount of 181 million yuan [35] Group 9 - Changchun High-tech plans to issue H-shares and list on the Hong Kong Stock Exchange [36] - *ST Yuancheng is under investigation by the CSRC for suspected false financial disclosures [37] - Beilu Pharmaceutical's subsidiary has received approval for the listing of Iopamidol raw materials [38] Group 10 - Zhejiang Liming's shareholder plans to reduce their stake by up to 2.93% [39] - Zhejiang Liming's actual controller has committed not to reduce their holdings within a year [40] - SAIC Motor reported a total vehicle sales of 2.0526 million units in the first half of 2025, a year-on-year increase of 12.35% [41] Group 11 - Xinhongcheng expects a net profit increase of 50%-70% for the first half of 2025 [42] - Xianhe Co. plans to invest 11 billion yuan in a bamboo pulp paper integrated project [42] - Great Wall Motors reported a total vehicle sales of 569,800 units in the first half of 2025, a year-on-year increase of 1.81% [43] Group 12 - Dongfeng Co. received a government subsidy of 10 million yuan [44] - Zhongke Environmental Protection has acquired two water environmental companies in Guangxi for a total of 353 million yuan [45] - Anji Food's H-share public offering is priced at 60 Hong Kong dollars per share [46]

关于使用闲置募集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。 证券代码：603517 证券简称：绝味食品 公告编号：2025-059 绝味食品股份有限公司 重要内容提示： 履行的审议程序：绝味食品股份有限公司（以下简称"公司"）于2025年4 月9日召开第六届董事会第二次会议和第五届监事会第二十三次会议，2025年5 月9日召开公司2024年度股东会，审议通过了《关于使用部分暂时闲置募集资金 进行现金管理的议案》，同意公司全资子公司合计使用最高额度不超过人民币7 亿元（含7亿元）的暂时闲置募集资金进行现金管理，用于购买安全性高、流动 性好的结构化存款或稳健型短期理财产品，投资期限为自公司2024年度股东会审 议通过之日起12个月，在上述额度及期限内，可滚动使用。公司监事会和保荐机 构对该议案发表了同意意见。具体内容详见公司于2025年4月10日披露的 2025-030号《绝味食品关于使用部分暂时闲置募集资金进行现金管理的公告》。 一、本次委托理财概况 （一）委托理财目的 为提高募集资金的使用效率和收益 ...

Core Viewpoint - Recently, Juewei Foods announced the extension of the duration of its private equity funds, indicating challenges in its investment strategy and overall financial performance [1][2]. Group 1: Fund Extensions - Juewei Foods announced the extension of the Hunan 415 Private Equity Fund's duration by one year, changing the term from July 10, 2018, to July 9, 2026 [2]. - The Hunan 415 Fund was established in July 2018 with a total capital of 300 million yuan, with Juewei's subsidiary holding 99% of the equity [2]. - The extension is based on a comprehensive assessment of the capital market environment and investment project conditions, with no significant impact on the company's current performance [2]. Group 2: Investment Performance - Juewei Foods has faced negative net investment income for four out of the last five years, totaling a loss of 246 million yuan [4]. - The company has continuously experienced cash outflows from investment activities, amounting to 6.509 billion yuan over eight years, which has affected its dividend payout ratio [3][4]. - In 2024, Juewei Foods is projected to have a net investment loss of 160 million yuan, an increase of 44 million yuan compared to 2023 [1]. Group 3: Sales and Profitability Challenges - Juewei Foods reported a 13.84% decline in revenue for 2024, totaling 6.257 billion yuan, with a further 11.47% drop in the first quarter [5]. - The company has been closing stores, with a reported reduction of 981 stores in the first half of 2024, leading to concerns about brand aging and market competitiveness [5][6]. - The net profit has significantly decreased from 981 million yuan in 2022 to an estimated 227 million yuan in 2024, reflecting ongoing operational challenges [5][6]. Group 4: Strategic Concerns - The company's investment strategy has not effectively diversified risk, instead introducing new risks and lowering shareholder returns [4]. - Juewei Foods' management has acknowledged the need to adapt to new consumer demands and enhance multi-category and omni-channel development [6][7]. - The decline in net profit margin, which has dropped from over 10% before 2021 to around 3% recently, is attributed to declining sales, rising costs, and investment losses [6][7].

证券代码：603517 证券简称：绝味食品 公告编号：2025-058 绝味食品股份有限公司 关于使用闲置募集资金现金管理到期赎回 并继续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 和完整性承担个别及连带责任。 重要内容提示： 委托理财受托方：中国光大银行股份有限公司、招商银行股份有限公司 本次委托理财金额：3.65亿元 产品名称：2025年挂钩汇率对公结构性存款定制第六期产品601、招商银行 结构性存款点金看跌两层31D 履行的审议程序：绝味食品股份有限公司（以下简称"公司"）于2025年4 月9日召开第六届董事会第二次会议和第五届监事会第二十三次会议，2025年5 月9日召开公司2024年度股东会，审议通过了《关于使用部分暂时闲置募集资金 进行现金管理的议案》，同意公司全资子公司合计使用最高额度不超过人民币7 亿元（含7亿元）的暂时闲置募集资金进行现金管理，用于购买安全性高、流动 性好的结构化存款或稳健型短期理财产品，投资期限为自公司2024年度股东会审 议通过之日起12个月，在上述额度及期限内，可滚动使用。公司监事会和 ...

2018年7月2日，绝味食品股份有限公司（以下简称"公司"）召开了第三 届董事会第十九次会议，审议通过了《关于全资子公司拟参与设立投资基金的 议案》，同意公司通过全资子公司深圳网聚投资有限责任公司（以下简称"网 聚资本"）出资2.97亿元作为有限合伙人参与设立了湖南肆壹伍私募股权基金 企业（有限合伙）（以下简称"湖南肆壹伍基金"），基金规模3.00亿元，公 司持有湖南肆壹伍基金99.00%的权益，并授权公司管理层签署投资基金合伙协 议及根据合伙协议的约定行使相关责任和权利。根据合伙协议的约定，湖南肆 壹伍基金的合伙期限为7年，自基金的营业执照签发之日起计算。其中，前5年 为投资期，后2年为项目管理和退出期，经全体合伙人一致同意可以延长合伙期 限，每次延长期不得超过一年，可决定延期两次。 2018年8月30日，湖南肆壹伍基金完成了基金业协会的备案手续。2019年8 月21日，公司召开了第四届董事会第七次会议，会议审议通过了《关于全资子 公司参与设立的基金增资并变更基金管理人、普通合伙人的议案》，将湖南肆 壹伍基金认缴出资总额由3.00亿元人民币增加至4.545亿元人民币。新增出资额 1.545亿元分别由：赣州九 ...

Core Points - The company, Juewei Foods, will hold an investor briefing on June 27, 2025, to discuss its 2024 annual and 2025 Q1 performance [1] - The meeting will be conducted via video recording combined with online text interaction, allowing investors to engage and ask questions [1] - Key executives, including the Chairman and President, will participate in the briefing [1] Meeting Details - **Date and Time**: June 27, 2025, from 15:00 to 17:00 [1] - **Location**: Shanghai Stock Exchange Roadshow Center [1] - **Participation Method**: Investors can join online and submit questions in advance from June 20 to June 26, 2025 [1][2] Contact Information - **Contact Person**: Liao Kai [2] - **Phone**: 0731-89842956 [2] - **Email**: zqb@juewei.cn [2] Additional Information - After the briefing, investors can view the meeting's details and main content on the Shanghai Stock Exchange Roadshow Center [3]