惠发食品 自2017年6月13日上市至今，已迎来8周年。从上市首日收盘价为10.99元、市值13.19亿元，到如今市值达到23.71 亿元，惠发食品的成长历程充满波折，更是经历了从盈利到亏损的转变，但从最近几年公司经营表现来看，业绩波动较大 且呈现下滑趋势。 惠发食品的主营业务包括速冻丸类制品、肠类制品、油炸类制品、串类制品等在内的速冻调理肉制品的研发、生产和销 售。其核心产品主要分为供应链和丸制品等，从产品收入结构来看，供应链占比最高，达到30.33%，其次是丸制品，占比 22.35%。 惠发食品上市的2017年，当年实现归母净利润0.60亿元，截至最新完整财年的2024年，公司实现-0.17亿元的归母净利润，累 计利润增长了-127.47%。这8个年间，惠发食品有3年出现亏损，归母净利润增长的年份达到4年，占比高达50.0%。从最近 年份的财报看出，公司盈利能力持续承压。 2023年12月6日，惠发食品的市值巅峰达到49.47亿元，股价也顺应升至20.22元。而至6月12日收盘，惠发食品的股价为9.69 元，市值为23.71亿元，相比峰值时期市值减少25.76亿元，市值蒸发了52.08%。 营收角度分析， ...

今年四月份，在上市公司密集发布完2024年年报之后，对照今年1月份多家公司的2024年业绩预告，我们发现，有不少公司出现业绩变脸情况，其中有些去 情况严重，由原先预告的业绩盈利变成了亏损，甚至有些公司在业绩更正之后触及退市风险警示，披星带帽成了ST股。 据北京时择律师事务所臧小丽律师团队不完全统计，以下14家上市公司存在2024年业绩变脸的情况，包括：*ST熊猫（熊猫金控600599）、*ST奥维（奥维 通信002231）、ST华西（华西能源002630）、*ST生物（南华生物000504）、*ST赛隆(赛隆药业002898)、*ST阳光（阳光股份000608）、至纯科技603690、 一、烟花龙头股熊猫金控：业绩更正盈利变亏损成退市风险警示股 2025年1月23日，熊猫金控600599发布《2024年度业绩预盈公告》：预计2024年度净利润为3000万元至4500万元，与上年同期相比，将实现盈利；预计2024 年度实现扣非净利润为2100万元至3600万元，与上年同期相比，将实现盈利。 然后到了4月27日晚间，公司披露了《2024年度业绩预告更正公告》。经财务部门再次测算，预计2024年度净利润为-4.6亿 ...

Core Viewpoint - The company, Huifa Foods, is experiencing poor performance, leading to frequent share reductions by shareholders and executives, indicating a lack of confidence in the company's future prospects [1][2]. Financial Performance - In Q1 2025, Huifa Foods reported revenue of 310 million yuan, a year-on-year decline of 26.58%, and a net loss of 18.04 million yuan, which raises concerns about meeting annual performance targets [6]. - For the year 2024, the company achieved revenue of 1.925 billion yuan, a decrease of 3.61% year-on-year, and a net loss of 165.86 million yuan, representing a significant decline of 320.68% [4][5]. - The company has accumulated a total loss of 294 million yuan in net profit from 2021 to 2024, indicating ongoing financial struggles [4]. Shareholder Actions - Five executives, including the chairman and financial director, plan to reduce their holdings, with a total of 131,900 shares to be sold, potentially raising approximately 1.21 million yuan based on the stock price at the time of the announcement [2][3]. Industry Comparison - Compared to industry leaders, Huifa Foods' revenue and profitability are significantly lagging, with competitors like Anjij Foods reporting revenue of 15.127 billion yuan and a net profit of 1.485 billion yuan in 2024 [5]. - The company faces challenges from increased competition and weak consumer demand, which have negatively impacted its revenue and profitability [5]. Strategic Initiatives - To combat market challenges, Huifa Foods is focusing on expanding its market presence and enhancing promotional efforts, although its sales and management expenses have not seen significant changes [5]. - The company has set ambitious revenue growth targets for 2024 and 2025, aiming for a minimum growth rate of 12% and 20%, respectively, but has not met its 2024 goals [6].

Summary of Key Points Core Viewpoint - The recent announcements regarding share reductions by executives at Huihua Foods highlight ongoing concerns about the company's financial performance and governance practices, raising questions about the value creation for shareholders amidst significant cash-outs by insiders [2][10][11]. Group 1: Executive Share Reductions - Five executives, including the vice presidents and the financial director, plan to reduce their holdings by a total of 131,900 shares, which is approximately 25% of their respective holdings, potentially cashing out around 1.21 million yuan based on the closing price of 9.17 yuan per share on May 12, 2025 [2]. - This reduction is part of a broader trend, as Huihua Foods has seen a cumulative cash-out of approximately 192 million yuan from small shareholders since its IPO in 2017, representing about 8.72% of the company's market value as of May 12, 2025 [3]. Group 2: Financial Performance - Huihua Foods has experienced a significant decline in financial performance compared to its peers, with revenue growth of only 105% from 9.39 billion yuan to 19.25 billion yuan between 2017 and 2024, while its net profit has turned from a profit of 60 million yuan to a loss of 170 million yuan [10]. - Cumulatively, the company has reported a net loss of approximately 1.7 billion yuan since its IPO, raising concerns about its ability to generate shareholder value [11]. Group 3: Governance and Regulatory Issues - The company has faced scrutiny from regulatory bodies, receiving warnings for discrepancies in financial disclosures and internal control failures, including the use of personal WeChat accounts for company transactions [12]. - The abrupt fluctuations in stock price, including multiple trading halts, have raised suspicions about the timing and motivations behind insider share reductions [8].

公司预警 海外预警 1、COMEX黄金期货跌2.76%，报3240.1美元/盎司；COMEX白银期货跌0.42%，报32.775美元/盎司。 导读：智通财经5月13日投资避雷针，近日，A股及海外市场潜在风险事件如下。国内经济信息方面包括：1）4月住房租赁行业进入淡季，50城住宅平均租 金环比小幅下跌；2）SiC衬底市场2024年营收年减9%，但长期需求乐观；公司方面重点关注包括：1）5连板春光科技公告，公司股票存在二级市场非理性 炒作风险；2）博云新材股东高创投拟减持不超过3%公司股份；海外市场重点关注包括：1）COMEX黄金期货跌2.76%，报3240.1美元/盎司；2）俄罗斯石 油产量将持续恢复至1080万桶/日。 经济信息 1、中指研究院的最新数据显示，4月住房租赁行业进入淡季，租房需求回落，重点城市住宅平均租金小幅下跌。全国50个城市住宅平均租金为35.2元/平方 米/月，环比下跌0.32%，跌幅较3月扩大0.27个百分点；同比下跌3.40%，跌幅与3月持平。 2、据TrendForce集邦咨询最新研究，受2024年汽车和工业需求走弱，SiC衬底出货量成长放缓，与此同时，市场竞争加剧，产品价格大幅下跌 ...

证券代码：603536 证券简称：惠发食品 公告编号：2025-019 山东惠发食品股份有限公司 部分董事、监事、高管减持股份计划公告 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： 董事、监事、高管持股的基本情况 截至本公告披露日，山东惠发食品股份有限公司（以下简称"公司"）董事 魏学军先生持有公司股份 150,000 股，占公司总股本的 0.0613%；公司监事闫晓 女士持有公司股份 12,700 股，占公司总股本的 0.0052%；公司副总经理臧方运 先生持有公司股份 139,400 股，占公司总股本的 0.0570%；公司副总经理张庆玉 女士持有公司股份 150,000 股，占公司总股本的 0.0613%；公司财务总监董雪女 士持有公司股份 76,100 股，占公司总股本的 0.0311%。 减持计划的主要内容 自本公告披露日起 15 个交易日后的 3 个月内：魏学军先生计划采取集中竞 价方式减持不超过 37,500 股，占公司总股本的 0.0153%，占其所持有股份总数 的 25.0000% ...

投资者网上集体接待日活动的公告 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。 为进一步加强与投资者的互动交流，山东惠发食品股份有限公司（以下简称"公 司"）将参加由山东证监局、山东上市公司协会与深圳市全景网络有限公司联合举办的 "2025 年山东辖区上市公司投资者网上集体接待日活动"，现将相关事项公告如下： 本次活动将采用网络远程的方式举行，投资者可登录"全景路演"网站 （http://rs.p5w.net）；或关注微信公众号（名称：全景财经）；或下载全景路演 APP, 参与本次互动交流。活动时间为 2025 年 5 月 15 日（周四）15:00-16:30。届时公司高 管将在线就公司 2024 年度及 2025 年第一季度业绩、公司治理、发展战略、经营状况、 融资计划、股权激励和可持续发展等投资者关心的问题，与投资者进行沟通与交流，欢 迎广大投资者踊跃参与。 证券代码：603536 证券简称：惠发食品 公告编号：临 2025-019 山东惠发食品股份有限公司 关于参加 2025 年山东辖区上市公司 特此公告。 山东 ...

Core Viewpoint - The announcement provides an overview of Shandong Huifa Food Co., Ltd.'s first-quarter financial performance for 2025, ensuring the accuracy and completeness of the information disclosed [1][2][6]. Financial Data Summary - The financial statements for the first quarter of 2025 are unaudited, with the company confirming that there were no significant changes in net profit from merged entities, which remained at 0 yuan for both the current and previous periods [3][5]. - The company has not applied new accounting standards or interpretations for the first quarter of 2025 [5]. Operational Performance - The announcement includes a detailed breakdown of the company's main business revenue categorized by industry, product, sales model, and region, although specific figures are not provided in the text [6]. - The company also reports on the changes in the number of distributors during the first quarter of 2025, although specific data is not included [6].

山东惠发食品股份有限公司 证券代码：603536 证券简称：惠发食品 公告编号：临 2025-017 1、主营业务收入按照行业分类情况 关于 2025 年第一季度主要经营数据的公告 2、主营业务收入按照产品分项分类情况 单位：万元 币种：人民币 | | 报告期内主营业务收入分产品分项情况 | | | | --- | --- | --- | --- | | 产品分项 | 2025 年第一季度 | 2024 年第一季度 | 变动情况（%） | | 丸制品 | 6,432.18 | 8,970.16 | -28.29 | | 油炸品 | 4,020.10 | 5,353.46 | -24.91 | | 肠制品 | 2,505.63 | 2,679.60 | -6.49 | | 串制品 | 1,935.90 | 2,205.31 | -12.22 | | 中式菜肴 | 3,283.94 | 4,475.00 | -26.62 | | 其它类 | 1,110.42 | 1,755.41 | -36.74 | | 供应链 | 10,789.92 | 12,387.01 | -12.89 | 1 单位：万元 币种：人民币 ...

Financial Performance - The company reported a basic earnings per share of -0.0700 yuan for Q1 2025, a decrease of 250% compared to -0.0200 yuan in Q1 2024 [1] - The net profit for Q1 2025 was -0.18 billion yuan, reflecting a 350% decline from -0.04 billion yuan in Q1 2024 [1] - Operating revenue decreased by 26.54% to 3.1 billion yuan in Q1 2025, down from 4.22 billion yuan in Q1 2024 [1] - The return on equity was -4.09% in Q1 2025, a significant drop from -0.81% in Q1 2024 [1] Shareholder Structure - The top ten unrestricted shareholders hold a total of 14,401.24 million shares, accounting for 59.88% of the circulating shares, which is a decrease of 948.87 million shares from the previous period [2] - Major shareholders include Shandong Huifa Investment Co., Ltd. with 6,950.76 million shares (28.90%), and Hui Zengyu with 5,088.50 million shares (21.16%), both remaining unchanged [3] - New entrants among the top shareholders include UBS AG, Morgan Stanley & Co. International PLC, and several others, while previous shareholders such as Yang Hong and Zhang Yuan have exited [3] Dividend Policy - The company has announced that it will not distribute dividends or bonus shares this period [4]