Core Viewpoint - The actual controller of Youyou Food, Zhao Ying, plans to reduce his shareholding, which may impact the company's stock price and investor sentiment [1][2]. Shareholding and Market Impact - Zhao Ying intends to reduce his holdings by up to 12.83 million shares, representing no more than 3% of the company's total share capital, with a maximum of 1% through centralized bidding and 2% through block trading [1] - Following the announcement, Youyou Food's stock price fell over 8% on June 23 [2]. Family Ownership Structure - Zhao Ying currently holds 55.40 million shares, accounting for 12.95% of the total share capital, while the family collectively owns 70.26% of the company [2]. Financial Implications of the Reduction - If Zhao Ying sells the maximum amount of shares at the closing price of 13.73 yuan per share on June 20, he could realize approximately 176 million yuan [3]. Reason for Share Reduction - The official announcement cites personal financial needs as the reason for the share reduction, although there is no indication of financial distress, as the family has not pledged or frozen their shares [4]. Dividend History - From 2019 to 2024, Youyou Food distributed a total of 827 million yuan in cash dividends, with a significant portion benefiting the controlling family [5]. Business Performance - The company's revenue and net profit have shown weak growth, with 2021 to 2024 revenues of 12.20 billion yuan, 10.24 billion yuan, 9.66 billion yuan, and 11.82 billion yuan, and net profits of 2.20 billion yuan, 1.54 billion yuan, 1.16 billion yuan, and 1.57 billion yuan respectively [6]. - Although there was a year-on-year increase in Q1 2024 revenue and net profit, they have not yet returned to the levels seen in 2021 [6].

Core Viewpoint - Youyou Food's stock price has surged over 90% this year, reaching a new high, but the controlling shareholder has announced a significant reduction in holdings, raising concerns about the company's future performance and profitability [1][2][3]. Stock Performance and Shareholder Actions - Youyou Food's stock price increased significantly, with a peak of 16.07 yuan on June 5, 2023, after starting the year at 8.41 yuan, marking a rise of over 91% [3]. - On June 22, 2023, the company announced that Zhao Ying, the wife of Chairman Lu Youzhong, plans to reduce her holdings by 3%, equating to approximately 12.83 million shares [2][3]. - Following the announcement, the stock price fell by 7.65% on June 23 but rebounded by 4.26% on June 24, closing at 13.22 yuan [1]. Dividend Policy - Youyou Food has a history of high dividend payouts, with a projected dividend rate of 127.8% for 2024, amounting to around 200 million yuan, exceeding the expected net profit of 160 million yuan [1][3]. - The controlling family is expected to receive approximately 140 million yuan from the dividends [3]. Financial Performance - In 2024, Youyou Food's revenue is projected to be around 1.182 billion yuan, reflecting a year-on-year growth of 22.37%, while net profit is expected to reach 157 million yuan, up 35.44% [5]. - The company's core product, spicy chicken feet, generated revenue of 790 million yuan in 2024, down nearly 200 million yuan from its peak [1][6]. New Business Growth - The new product line, "other spicy marinated meat products," has shown significant growth, with revenue reaching 151 million yuan in 2024, a year-on-year increase of over 840% [6][9]. - The company has successfully launched a product in Sam's Club, which quickly became a best-seller in its category [6]. Profitability Concerns - Despite revenue growth, the company's overall profitability is under pressure, with the gross margin for new products at only 16.51%, significantly lower than the 31.62% margin for spicy chicken feet [9]. - The overall gross margin for 2024 is projected to be 29%, a slight decline from the previous year, and further decreased to 27.1% in the first quarter of the current year [9]. Accounts Receivable and Cash Flow - Youyou Food's accounts receivable surged to 74.61 million yuan in 2024, an 18-fold increase from 3.79 million yuan in 2023, attributed to new customer credit terms [10]. - The increase in accounts receivable may pose potential cash flow challenges, particularly due to longer payment terms associated with large retail partners like Sam's Club [10].

赵英计划自公司发布本次减持计划公告之日起15个交易日后的三个月内(2025年7月15日至2025年10 月12日)，减持股份数量合计不超过12,830,761股，即不超过公司总股本的3%，其中，以集中竞价方式 减持公司股份不超过4,276,920股，不超过公司股份总数的1%，以大宗交易方式减持公司股份不超过 8,553,841股，不超过公司股份总数的2%。 中国经济网北京6月23日讯 有友食品(603697.SH)今日股价下跌，盘中一度跌停，截至收盘报12.68 元，跌幅7.65%。 昨日晚间，有友食品披露实际控制人减持股份计划公告。公告称，截至公告日，有友食品实际控制 人赵英持有公司股份55,401,734股，占公司总股本的12.95%。上述股份均为公司IPO前取得的股份 (39,572,667股)及公司上市后以资本公积转增股本方式取得的股份(15,829,067股)，截至公告披露日， 55,401,734股均为无限售条件流通股。 2020年至2024年，有友食品营业收入分别为10.93亿元、12.20亿元、10.24亿元、9.66亿元、11.82亿 元，归属于上市公司股东的净利润分别为2.26亿元、2.2 ...

Group 1: Fudan Zhangjiang - Shareholders Yang Zongmeng and Wang Haibo plan to reduce their holdings by a total of up to 1.41% of the company's shares [1] - Yang Zongmeng intends to sell up to 10.36 million shares, representing 1.00% of the total share capital [1] - Wang Haibo plans to sell up to 4.27 million shares, representing 0.41% of the total share capital [1] Group 2: Aisen Co., Ltd. - Shareholders including Ailong Venture Capital and executives plan to reduce their holdings by a total of up to 3.86% of the company's shares [1] - Ailong Venture Capital intends to sell up to 2.644 million shares, representing 3.00% of the total share capital [1] - Other executives plan to sell smaller amounts, with individual reductions ranging from 0.17% to 0.45% of the total share capital [1] Group 3: Youyou Food - Actual controller Zhao Ying plans to reduce his holdings by up to 3% of the company's shares [3] - The planned reduction amounts to up to 12.83 million shares [3] Group 4: Chenfeng Technology - The company plans to sell idle assets, including 6 vehicles and 53 pieces of machinery, for a total estimated sale price of 8.1461 million yuan [5] - Expected disposal gains from the sale are approximately 3.6238 million yuan [5] Group 5: *ST Hengtai - The company will cancel its delisting risk warning and other risk warnings, with the stock name changing from "*ST Hengtai" to "Henglitai" [6] - The stock will be suspended for one day and the price fluctuation limit will change to 10% [6] Group 6: Xinyunda - Shareholder Wuku International Trust plans to reduce its holdings by up to 3% of the company's shares [9] - The planned reduction amounts to up to 5.9823 million shares [9] Group 7: Shaoyang Hydraulic - The company is planning a major asset restructuring, which involves issuing shares and cash to acquire part or all of Chongqing Xincheng Hangrui Technology Co., Ltd. [10] - The stock will be suspended for up to 10 trading days [10] Group 8: Xingwang Yuda - The company announced that part of its bank account funds, totaling 25.9335 million yuan, have been frozen [11] - The frozen amount represents 1.42% of the company's most recent audited net assets [11] Group 9: Tianrong Tianyu - Shareholder Yan Xuewei plans to reduce his holdings by up to 3% of the company's shares [12] - The planned reduction amounts to up to 4.2089 million shares [12] Group 10: Qiming Star - The chairman Wei Bing has resigned due to work adjustments at China Mobile Communications Group [13] Group 11: Aosaikang - The company's subsidiary has received a drug registration certificate for Methotrexate injection, which is considered equivalent to passing consistency evaluation [15][16] Group 12: Xinhau Optoelectronics - The company plans to transfer 100% equity of its wholly-owned subsidiary, Xinguang Energy Technology (Anhui) Co., Ltd. [17] Group 13: ST Baili - The company's controlling shareholder has been applied for bankruptcy liquidation due to inability to repay debts [19]

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Market Performance - A-shares experienced a collective adjustment on June 20, 2025, with the Shanghai Composite Index closing at 3359.90 points, down 0.07%, the Shenzhen Component Index at 10005.03 points, down 0.47%, and the ChiNext Index at 2009.89 points, down 0.84% [2] - Hong Kong's three major indices closed in the green, with the Hang Seng Index and the Hang Seng China Enterprises Index performing well [2] - U.S. stock indices showed mixed results, with the S&P 500 Index up 1.59% to 5954.5 points, the Nasdaq Composite Index up 1.63% to 18847.28 points, and the Dow Jones Industrial Average up 1.39% to 43840.91 points [2] Regulatory Developments - The National Financial Regulatory Administration issued the revised "Market Risk Management Measures for Commercial Banks," focusing on risks from adverse changes in interest rates, exchange rates, stock prices, and commodity prices, excluding bank book interest rate risk [3] - The revised measures consist of five chapters and forty-three articles, emphasizing the need for a robust market risk governance structure and detailed management requirements [3] Quality Supervision - The State Administration for Market Regulation announced a nationwide quality supervision and sampling inspection for 164 products in 2025, with a total of over 16,000 batches to be sampled [4] - The inspection will focus on children's products, with increased sampling for power banks, electric bicycles, and gas appliances, as well as emerging industries like power batteries and drones [4] Cross-Border Payment - The launch of the Cross-Border Payment System marks the successful interconnection of financial infrastructures between mainland China and Hong Kong, facilitating real-time cross-border remittances [4] - This development is expected to enhance the efficiency and service level of cross-border payments, benefiting trade and personnel exchanges between the two regions [4]

证券代码：603697 证券简称：有友食品 公告编号：2025-040 有友食品股份有限公司 实际控制人减持股份计划公告 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： 实际控制人持股的基本情况 截至本公告日，有友食品股份有限公司（以下简称"公司"）实际控制人赵 英女士持有公司股份 55,401,734 股，占公司总股本的 12.95%。 上述股份均为公司 IPO 前取得的股份（39,572,667 股）及公司上市后以资 本公积转增股本方式取得的股份（15,829,067 股），截至本公告披露日， 55,401,734 股均为无限售条件流通股。 减持计划的主要内容 赵英女士计划自公司发布本次减持计划公告之日起 15 个交易日后的三个月 内（2025年7月15日至2025年10月12日），减持股份数量合计不超过12,830,761 股，即不超过公司总股本的 3%，其中，以集中竞价方式减持公司股份不超过 4,276,920 股，不超过公司股份总数的 1%，以大宗交易方式减持公司股份不超过 8,553,84 ...

Core Viewpoint - The actual controller of Youyou Food (603697), Zhao Ying, plans to reduce his holdings by up to 12.83 million shares, representing 3% of the company's total share capital, within three months after 15 trading days from the announcement date [1] Summary by Relevant Sections - **Shareholding Details** - Zhao Ying currently holds 55.40 million shares, which accounts for 12.95% of the company's total share capital, all of which are tradable shares [1] - **Reason for Reduction** - The reduction is based on personal funding needs and is not expected to have a significant impact on the company's governance structure, equity structure, or ongoing operations [1]

Overview - The demand for spicy chicken feet (泡椒凤爪) is increasing due to rising national income levels, with a projected demand of 337,900 tons and a market size of 23.45 billion yuan in 2024, averaging 69.40 yuan per kilogram [1][10] - The Z generation is becoming the main consumer group, showing strong demand for snacks and emphasizing taste, packaging, and consumption experience [1][10] Market Policy - Recent policies have imposed stricter requirements on the production process, hygiene standards, and additive usage for spicy chicken feet, including guidelines for traditional food production and food safety management [3][5] Industry Chain - The upstream of the spicy chicken feet industry includes raw chicken feet, seasonings, food additives, and packaging materials, while the midstream focuses on production, and the downstream involves various sales channels such as supermarkets, convenience stores, and e-commerce platforms [6] Consumer Demographics - The consumer base is broad, with over 70% of young consumers aged 15-35, particularly those aged 25-35 (46.25%) and 15-24 (33.14%), favoring spicy chicken feet as a snack for various occasions [8] Competitive Landscape - The spicy chicken feet market is highly fragmented with many small to medium-sized enterprises, where over 70% of related companies have registered capital under 1 million yuan, and less than 10% have over 50 million yuan [15] Key Companies - Youyou Food Co., Ltd. generated a total revenue of 1.182 billion yuan in 2024, with spicy chicken feet accounting for 785 million yuan, or 66.4% of total revenue [17] - Chongqing Qishuang Industrial Group Co., Ltd. focuses on the research, production, and sales of various snack foods, including spicy chicken feet [19] Development Trends - Future trends indicate a shift towards healthier options, including low-salt, low-sugar, and functional products with added collagen, as well as a diversification of flavors beyond traditional spicy varieties [21]

证券代码：603697 证券简称：有友食品 公告编号：2025-039 有友食品股份有限公司 关于聘任副总经理及董事会秘书的公告 肖传志先生联系方式如下： 地址：重庆市璧山区璧泉街道剑山路 130 号 电话：023-41770971 电子邮箱：yysecurity@youyoufood.com 特此公告。 有友食品股份有限公司董事会 2025 年 6 月 7 日 附件 肖传志先生简历 肖传志，男，中国国籍，出生于 1982 年，无境外永久居留权，中共党员， 本科学历，高级会计师。2006 年至 2010 年就职于天健会计师事务所（特殊普 通合伙）重庆管理总部高级审计师、项目经理；2010 年至 2016 年就职于金科 地产集团股份有限公司财务主管、财务经理、财务副总监；2017 年至 2021 年 就职于重庆新鸥鹏地产集团有限公司副总裁；2021 年至 2022 年就职于中昂地产 集团副总裁；2022 年至 2024 年就职于重庆富城资产管理有限公司 CFO 兼董事会 秘书；2024 年至 2025 年就职于国城控股集团有限公司财务总监；2025 年 5 月 加入有友食品股份有限公司。 本公司董事会及全体董事 ...