Company and Industry Summary Company Overview - The company is undergoing significant internal changes, particularly in its marketing strategies, which have shifted from a production-focused approach to a more balanced emphasis on marketing and consumer engagement [1][2][3]. Key Points on Marketing and Strategy - The chairman has recognized the need for a marketing transformation, responding to market signals and consumer behavior changes over the past two years [2][3]. - The company is committed to maintaining high product quality while innovating to meet consumer preferences, emphasizing a "quality first" philosophy [2][3]. - There has been a notable shift in the organizational structure to better align with new marketing channels, including the establishment of specialized teams for e-commerce and membership warehouse operations [4][5][6]. Changes in Organizational Structure - The company has made minor adjustments to its organizational structure, particularly in response to new channels like membership warehouses and bulk snack sales [4][5]. - New teams have been formed to handle specific client interactions, ensuring a more tailored approach to customer engagement [5][6]. Channel Development - The company is focusing on expanding its presence in new channels, particularly membership warehouses like Sam's Club and Costco, which are seen as high-potential markets [8][9][20]. - The company has identified Sam's Club as a key partner, with expectations for significant contributions to revenue from new product launches [13][14][17]. Product Launches and Revenue Expectations - The company anticipates that new products will significantly contribute to revenue growth in 2024, with projections indicating potential increases in sales volume [17][18][25]. - The company is actively working on launching new products in various channels, including e-commerce platforms like Douyin, although this area is currently less developed [19][20]. Financial Performance and Cost Management - The company has experienced fluctuations in raw material costs, particularly for chicken feet, which are primarily sourced domestically [27][30]. - There is an expectation that improved cost management and procurement strategies will enhance gross margins moving forward [29][34]. Competitive Landscape - The company acknowledges competition in the market but believes its product quality and unique offerings provide a competitive edge [31][36]. - The company is exploring flavor extensions and product line diversification to capture a broader market share [31][32]. Future Outlook - The company aims for stable growth in traditional channels while leveraging new opportunities in emerging markets [24][25]. - There is a focus on maintaining a healthy gross margin while navigating the competitive landscape and adapting to market demands [34][36]. Management and Succession Planning - The chairman is reportedly considering succession planning, with a focus on developing the current management team to ensure a smooth transition in leadership [37][38].

证券代码：603697 证券简称：有友食品 公告编号：2024-064 有友食品股份有限公司 2024 年第二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 | 1、出席会议的股东和代理人人数 | 298 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 312,485,569 | | 3、出席会议的股东所持有表决权股份数占公司有表决权股 | | | 份总数的比例（%） | 73.0632 | (四) 表决方式是否符合《公司法》及《公司章程》的规定，大会主持情况等。 表决方式符合《公司法》及《公司章程》的相关规定，本次股东会由董事长鹿有 忠先生主持。 (一) 股东会召开的时间：2024 年 11 月 11 日 (二) 股东会召开的地点：重庆市璧山区璧泉街道剑山路 130 号有友食品重庆 制造有限公司 4 楼会议室 (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： (五) 公司董 ...

北京德恒（重庆）律师事务所 关于有友食品股份有限公司 2024 年第二次临时股东会的 法律意见 重庆市江北区江北嘴聚贤岩广场 9 号国华金融中心大厦 A 栋 24 层 电话:023-63012200 传真:023-63012211 邮编:400024 北京德恒 (重庆) 律师事务所 关于有友食品股份有限公司 2024 年第二次临时股东会的法律意见 北京德恒(重庆) 律师事务所 关于有友食品股份有限公司 2024 年第二次临时股东会的 法律意见 致:有友食品股份有限公司 有友食品股份有限公司(以下简称"公司")2024年第二次临时股东会(以 下简称"本次会议")于 2024年 11 月 11 日下午 14 点 00 分召开。北京德恒（重 庆) 律师事务所(以下简称"德恒")受公司委托,指派程璐律师、陈上律师(以 下简称"德恒律师")出席了本次会议。根据《中华人民共和国证券法》(以下简 称"《证券法》")、《中华人民共和国公司法》（以下简称"《公司法》"）、中 国证券监督管理委员会《上市公司股东会规则》（以下简称"《股东会规则》")、 《有友食品股份有限公司章程》（以下简称"《公司章程》"）的规定、德恒律师 就本 ...

Investment Rating - The report maintains a "Buy" rating for Youyou Food (603697) with a target price of 10.56 CNY over the next six months [1][6]. Core Insights - The company reported a significant performance in Q3 2024, with revenue reaching 3.6 billion CNY, a year-on-year increase of 28%, and a net profit of 0.45 billion CNY, up 75.2% year-on-year, exceeding market expectations [1]. - The rapid expansion of new channels has contributed to explosive growth in other business segments, particularly in the membership-based warehouse supermarket channel [1][4]. - The company plans to distribute a cash dividend of 1 CNY per 10 shares to all shareholders [1]. Summary by Sections Financial Performance - For the first three quarters of 2024, Youyou Food achieved a revenue of 8.9 billion CNY, a 16.8% increase year-on-year, and a net profit of 1.2 billion CNY, up 14.3% year-on-year [1]. - In Q3 2024 alone, revenue was 3.6 billion CNY, with a net profit of 0.45 billion CNY, marking substantial growth compared to the previous year [1]. Business Segments - Revenue from various segments in Q3 included 2.2 billion CNY from chicken feet, 0.2 billion CNY from pig skin jelly, and 0.7 billion CNY from other businesses, with growth rates of +3.6%, +17.2%, and +1593% respectively [1]. - The company’s online and offline channel revenue growth rates were +263% and +12.9% respectively, indicating strong performance in online sales due to a low base effect [1]. Cost and Profitability - The gross margin for Q3 2024 was 30.1%, with a slight year-on-year decrease of 0.6 percentage points, while the single-quarter gross margin improved to 28.9%, up 1.9 percentage points year-on-year [1]. - The net profit margin increased by 3.4 percentage points year-on-year to 12.6%, driven by cost reductions and effective sales expense management [1]. Market Outlook - The report highlights the potential for growth in the snack food industry, particularly in spicy snack foods, which are favored by younger consumers [1]. - The company is expected to benefit from its established market share of over 30% in the chicken feet segment and aims for continued expansion into new retail channels [1][4]. Earnings Forecast - The projected earnings per share (EPS) for 2024, 2025, and 2026 are 0.36 CNY, 0.48 CNY, and 0.62 CNY respectively, with corresponding dynamic price-to-earnings (PE) ratios of 24, 18, and 14 [2][6].

《关于有友食品股份有限公司股票交易异常波动的询证函》之回函 致：有友食品股份有限公司 贵司《关于有友食品股份有限公司股票交易异常波动的询证函》已收悉，现 就公司询证事项回复如下： 本人鹿有忠作为有友食品股份有限公司（以下简称"公司"）的控股股东、 实际控制人，本人赵英作为公司的实际控制人，本人鹿新作为公司的实际控制人， 不存在涉及公司的应披露而未披露的重大信息，包括但不限于重大资产重组、发 行股份、上市公司收购、债务重组、业务重组、资产剥离和注入等重大事项，亦 不存在买卖公司股票的情形。 （以下无正文） （本页无正文，为《关于有友食品股份有限公司股票交易异常波动的询证函》 之回函的签署页） 鹿有忠 赵 英 鹿 新 2024 年 10 月 29 日 ...

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。 证券代码：603697 证券简称：有友食品 公告编号：2024-063 有友食品股份有限公司 股票交易异常波动公告 包括但不限于并购重组、股份发行、债务重组、业务重组、资产剥离和资产注入 等重大事项。 （三）公司未发现需要澄清或回应的媒体报道或市场传闻；公司未发现其他 可能对公司股价产生较大影响的重大事件；公司前期披露的信息不存在需要补充、 更正之处。 （四）经公司核实，公司董事、监事、高级管理人员、控股股东、实际控制 人及其一致行动人在公司本次股票交易异常波动期间不存在买卖公司股票的情 况。 三、董事会声明及相关方承诺 重要内容提示： 有友食品股份有限公司（以下简称"公司"）股票于 2024 年 10 月 25 日、 2024 年 10 月 28 日、2024 年 10 月 29 日连续 3 个交易日收盘价格涨幅偏离 值累计达到 20%，属于股票交易异常波动。 经公司自查，并书面征询控股股东及实际控制人，截至本公告披露日， 确认不存在应披露而未披露的重大信息。 一、股票 ...

Investment Rating - The report maintains a "Buy" rating for the company [1] Core Insights - The company has accelerated revenue growth quarter-on-quarter, with a marginal improvement in profitability [1] - For Q1-Q3 2024, the company achieved revenue of 887 million yuan, a year-on-year increase of 17%, and a net profit attributable to shareholders of 121 million yuan, up 14% [1] - The third quarter of 2024 saw revenue of 357 million yuan, a year-on-year increase of 28%, and a net profit of 45 million yuan, up 75% [1] - The gross margin for Q3 2024 increased by 2 percentage points to 28.90%, while the net profit margin rose by 3 percentage points to 12.63% [1] Revenue and Profitability - The company’s revenue for Q3 2024 from various products includes: - Spicy Chicken Feet: 228 million yuan (+4%) - Pig Skin Jelly: 22 million yuan (+17%) - Bamboo Shoots: 14 million yuan (-3%) - Chicken Wings: 11 million yuan (+25%) - Dried Tofu: 6 million yuan (-4%) - Peanuts: 4 million yuan (+11%) - Other products: 72 million yuan (+1593%) [1] - Online and offline revenue for Q3 2024 was 22 million yuan and 335 million yuan, respectively, with increases of 401% and 23% year-on-year [1] Forecasts - The company’s EPS for 2024-2026 is adjusted to 0.34, 0.37, and 0.41 yuan, respectively, with corresponding PE ratios of 22, 20, and 18 times [1][2] - The projected main revenue for 2024 is 1,129 million yuan, reflecting a growth rate of 16.9% [2][3] - The forecasted net profit for 2024 is 145 million yuan, with a growth rate of 25.2% [2][3]

证券代码：603697 证券简称：有友食品 公告编号：2024-058 有友食品股份有限公司 第四届董事会第十次会议决议公告 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个别及连带责任。 一、董事会会议召开情况 有友食品股份有限公司（以下简称"公司"）第四届董事会第十次会议于 2024 年 10 月 25 日以现场结合通讯的方式召开。会议通知于 2024 年 10 月 20 日以电 话及邮件方式通知全体董事。会议应参加表决董事 7 人，实际参加表决董事 7 人。会议由董事长鹿有忠先生主持，公司监事和高级管理人员列席了会议。会议 的召开符合《公司法》及《公司章程》的相关规定。 二、董事会会议审议情况 1、审议通过《关于公司 2024 年第三季度报告的议案》 具体内容详见公司同日在上海证券交易所网站（www.sse.com.cn）披露的《有 友食品 2024 年第三季度报告》。 本议案已经公司第四届董事会审计委员会第八次会议审议通过。 本议案已经公司第四届董事会提名委员会第三次会议审议通过。 表决结果：7 票同意，0 票反对，0 票弃权。 ...

证券代码:603697 证券简称:有友食品 公告编号: 2024-057 有友食品股份有限公司 2024 年三季度主要经营数据公告 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。 一、2024年三季度主要经营数据 1、主营业务收入按产品类别分类情况 注:本公告表格中如存在合计数与各分项数值之和尾数不符的情况,均为四舍五入原因形成。 2、主营业务收入按销售地区分类情况 单位: 万元 2024 年 1-9 月 2023 年 1-9 月 项目 金额 品 金额 品 70.87% 泡椒凤爪 57,122.30 75.79% 62,439.15 猪皮晶 6,535.58 7.42% 6,010.22 7.97% 竹笋 4,284.17 4.86% 4,231.55 5.61% 鸡翅 4.04% 2,979.98 3.95% 3,560.07 豆干 1,784.22 2.03% 1,967.76 2.61% 花生 1,107.79 1.26% 1,211.56 1.61% 其他 8,391.72 9.52% 1,849.33 2.45 ...

截至本公告日，梁余先生未持有本公司股份，与公司控股股东及实际控制人 不存在关联关系，未受过中国证监会及其他有关部门的处罚和证券交易所惩戒， 不存在《公司法》等法律、法规、规范性文件以及《公司章程》规定的不得担任 公司高级管理人员的情形。 梁余先生联系方式如下： 地址：重庆市璧山区璧泉街道剑山路 130 号 电话：023-41770971 证券代码：603697 证券简称：有友食品 公告编号：2024-061 有友食品股份有限公司 关于聘任董事会秘书的公告 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。 有友食品股份有限公司（以下简称"公司"）于 2024 年 10 月 25 日召开了 第四届董事会第十次会议，审议通过了《关于聘任公司董事会秘书的议案》，同 意聘任梁余先生（简历附后）为公司董事会秘书，任期自本次董事会审议通过之 日起至第四届董事会任期届满之日止。 特此公告。 有友食品股份有限公司董事会 2024 年 10 月 26 日 附件 梁余先生简历 梁余，男，中国国籍，出生于 1981 年，无境外永久居留权，硕士研究 ...