Group 1 - The company Jiajiayue Group Co., Ltd. has faced multiple food safety issues this year, with its stores frequently appearing in market regulatory announcements for non-compliance [1] - Specific instances of non-compliance include the sale of bananas with unacceptable levels of chlorothalonil and cucumbers with unacceptable levels of ethephon at different stores [1] - In April 2024, several products from Jiajiayue stores were reported for exceeding safety standards, including shrimp with excessive sulfur dioxide and beef products containing N-nitrosodimethylamine [1] Group 2 - Jiajiayue Group was established in 1981 and is based in Weihai, Shandong Province, with over a thousand stores across various regions including Shandong, Beijing, and Jiangsu [3] - The company operates in the supermarket chain sector, and as it scales beyond a thousand stores, the establishment of standardized quality inspection and traceability systems becomes crucial for long-term development [3]

Core Viewpoint - The company announced a temporary suspension of the conversion of its convertible bonds, "Jia Yue Convertible Bonds," due to the implementation of the 2024 annual equity distribution plan, which includes a cash dividend of RMB 0.80 per 10 shares [1][2]. Group 1: Equity Distribution Plan - The equity distribution plan was approved at the company's 2024 annual shareholders' meeting on May 26, 2025, where it was decided to distribute cash dividends to shareholders registered on the equity distribution record date [1]. - The cash dividend will be RMB 0.80 per 10 shares, inclusive of tax, based on the total share capital after deducting repurchased shares [1][2]. Group 2: Suspension of Convertible Bond Conversion - The conversion of "Jia Yue Convertible Bonds" will be suspended from the trading day before the equity distribution announcement (July 7, 2025) until the equity distribution record date [1][2]. - The bonds will resume conversion on the first trading day after the equity distribution record date, allowing bondholders to convert their bonds until July 4, 2025 [2]. Group 3: Company Contact Information - The company has provided contact details for its securities affairs department for any inquiries related to the announcement [3].

| 证券代码：603708 | 证券简称：家家悦 | 公告编号：2025-052 | | --- | --- | --- | | 债券代码：113584 | 债券简称：家悦转债 | | 家家悦集团股份有限公司 关于 2024 年第二期以集中竞价交易方式回购股份实施 进展的公告 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： | 回购方案首次披露日 | 2024/9/12 | | | | | | --- | --- | --- | --- | --- | --- | | 回购方案实施期限 | 2024 年 9 月 11 9 | 日~2025 | 年 | 月 | 10 日 | | 预计回购金额 | 10,000万元~20,000万元 | | | | | | 回购用途 | □减少注册资本 □用于员工持股计划或股权激励 √用于转换公司可转债 | | | | | | | □为维护公司价值及股东权益 | | | | | | 累计已回购股数 | 8,972,100股 | | | | | | 累计已回购股数占总股本比例 | 1 ...

| 证券代码：603708 | 证券简称：家家悦 | 公告编号：2025-051 | | --- | --- | --- | | 债券代码：113584 | 证券简称：家悦转债 | | 家家悦集团股份有限公司 关于实施 2024 年度权益分派时"家悦转债"停止转股 的提示性公告 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： 证券停复牌情况：适用 因实施 2024 年度权益分派,本公司的相关证券停复牌情况如下： | 证券代码 | 证券简称 | 停复牌类型 | 停牌起始日 | 停牌 | 停牌终止日 | 复牌日 | | --- | --- | --- | --- | --- | --- | --- | | | | | | 期间 | | | | 113584 | 家悦转债 | 可转债转股停牌 | 2025/7/7 | | | | 权益分派公告前一交易日（2025 年 7 月 7 日）至权益分派股权登记日期间， 本公司可转债将停止转股。 司章程》的有关规定，公司已回购股份及拟回购注销的限制性股票不参与本次权 益分派。根 ...

Core Viewpoint - The credit rating agency maintains the long-term credit rating of Jiajiayue Group Co., Ltd. at AA, with a stable outlook for both the company and its convertible bonds, indicating a solid financial position and operational stability [1][3]. Company Overview - Jiajiayue Group is a privately listed retail company based in Shandong Province, primarily engaged in supermarket chain operations, including various formats such as community fresh food supermarkets and discount stores [3][6]. - As of the end of 2024, the company reported total assets of 134.22 billion yuan and equity of 24.06 billion yuan, with a revenue of 182.56 billion yuan and a profit of 1.87 billion yuan [6][7]. Financial Performance - The company experienced a revenue growth of 7.97% in 2024, with stable gross margins across its business segments. However, in the first quarter of 2025, revenue declined by 4.77% year-on-year [9][10]. - Cash and cash equivalents stood at 20.68 billion yuan, representing 15.41% of total assets, with a net cash flow from operating activities of 11.51 billion yuan [4][6]. Debt and Credit Metrics - The company has a high debt burden, with a debt-to-asset ratio of 82.07% and a total debt capitalization ratio of 68.86% as of the end of 2024 [4][5]. - The convertible bond "Jia Yue Convertible Bond" has an issuance scale of 6.45 billion yuan, with a maturity date set for June 5, 2026 [6]. Market Position and Strategy - The company maintains a stable market position in Shandong Province, particularly in the Weihai and Yantai regions, and is focused on optimizing store layouts and enhancing service quality [3][7]. - The company has been actively closing underperforming stores, with a net reduction of 34 stores by the end of 2024, while also expanding its online sales channels [11][12]. Industry Analysis - The retail industry is facing challenges due to insufficient consumer demand and a shift towards online retail, which remains the primary driver of consumption growth [7][8]. - The government is expected to continue supporting consumption through policy measures, which may benefit the retail sector in the coming years [7][8].

Group 1 - The core viewpoint of the announcement is that the company, Jiajiayue Group Co., Ltd., has received a stable credit rating of "AA" for both its corporate entity and its convertible bonds, indicating consistent financial health and creditworthiness [1][2]. - The previous credit rating for the company and its convertible bonds was also "AA," with a stable outlook, and this has not changed in the latest assessment [2]. - The tracking credit rating was conducted by United Ratings Co., Ltd., and the report is available on the Shanghai Stock Exchange website [2]. Group 2 - The tracking rating was performed on June 25, 2025, and the results were officially announced on June 26, 2025 [2]. - The announcement emphasizes that the board of directors guarantees the accuracy and completeness of the information provided, ensuring no misleading statements or omissions [1]. - The rating is in accordance with the regulations set forth by the China Securities Regulatory Commission and the Shanghai Stock Exchange [1].

根据中国证券监督管理委员会《上市公司证券发行注册管理办法》、《公司债 券发行与交易管理办法》和上海证券交易所《股票上市规则》、《公司债券上市规 则》的有关规定，家家悦集团股份有限公司（以下简称"公司"）委托联合资信 评估股份有限公司（以下简称"联合资信"）对公司已发行的可转换公司债券（债 券简称："家悦转债"）进行了跟踪信用评级。 | 证券代码：603708 | 证券简称：家家悦 | 公告编号：2025-050 | | --- | --- | --- | | 债券代码：113584 | 债券简称：家悦转债 | | 家家悦集团股份有限公司 关于公开发行可转换公司债券 2025 年跟踪评级结果 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： | 前次债项评级："AA" | 主体评级："AA" | 评级展望：稳定 | | --- | --- | --- | | 本次债项评级："AA" | 主体评级："AA" | 评级展望：稳定 | 董事会 二〇二五年六月二十六日 公司前次主体长期信用评级结果为"AA"； ...

家家悦集团股份有限公司 2025 年跟踪评级报告 | 服 务 | | --- | | 首 试 具 拟 | | 121 1 | | 专业 | www.lhratings.com 1 联合〔2025〕5319 号 联合资信评估股份有限公司通过对家家悦集团股份有限公司主 体及其相关债券的信用状况进行跟踪分析和评估，确定维持家家悦 集团股份有限公司主体长期信用等级为 AA，维持"家悦转债"信用 等级为 AA，评级展望为稳定。 特此公告 联合资信评估股份有限公司 评级总监： 二〇二五年六月二十五日 跟踪评级报告 | 2 声 明 一、本报告是联合资信基于评级方法和评级程序得出的截至发表之日 的独立意见陈述，未受任何机构或个人影响。评级结论及相关分析为联合 资信基于相关信息和资料对评级对象所发表的前瞻性观点，而非对评级对 象的事实陈述或鉴证意见。联合资信有充分理由保证所出具的评级报告遵 循了真实、客观、公正的原则。鉴于信用评级工作特性及受客观条件影响， 本报告在资料信息获取、评级方法与模型、未来事项预测评估等方面存在 局限性。 二、本报告系联合资信接受家家悦集团股份有限公司（以下简称"该 公司"）委托所出具，除因本次评级事 ...

证券代码：603708 证券简称：家家悦 公告编号：2025-049 债券代码：113584 证券简称：家悦转债 家家悦集团股份有限公司 注册资本：陆亿叁仟捌佰叁拾叁万捌仟陆佰柒拾伍元整 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、基本情况 家家悦集团股份有限公司（以下简称"公司"）于第四届董事会第三十六次 会议、第四届监事会第二十八次会议，审议通过了《关于修订 <公司章程> 的议 案》，并经公司 2024 年年度股东大会审议通过，具体内容详见公司刊登在上海 证券交易所网站（www.sse.com.cn）的相关公告。 二、工商变更登记情况 公司于近日完成了工商变更登记及《公司章程》的修订备案手续，并取得了 威海市行政审批服务局换发的《营业执照》。本次工商变更登记后，公司的基本 信息登记如下： 公司名称：家家悦集团股份有限公司 统一社会信用代码：91371000166697725Y 类型：其他股份有限公司（上市） 法定代表人：王培桓 关于完成工商变更登记并换发营业执照的公告 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 成立日期：1981 年 06 月 16 ...

关于完成工商变更登记并换发营业执照的公告 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 | 证券代码：603708 | 证券简称：家家悦 | 公告编号：2025-049 | | --- | --- | --- | | 债券代码：113584 | 证券简称：家悦转债 | | 家家悦集团股份有限公司 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、基本情况 家家悦集团股份有限公司（以下简称"公司"）于第四届董事会第三十六次 会议、第四届监事会第二十八次会议，审议通过了《关于修订<公司章程>的议 案》，并经公司 2024 年年度股东大会审议通过，具体内容详见公司刊登在上海 证券交易所网站（www.sse.com.cn）的相关公告。 法定代表人：王培桓 注册资本：陆亿叁仟捌佰叁拾叁万捌仟陆佰柒拾伍元整 成立日期：1981 年 06 月 16 日 住所：山东省威海市昆明路 45 号 经营范围：许可项目：食品销售；医疗器械互联网信息服务；出版物互联网 销售；药品互联网信息服务；食品互联网销售；农产品质量安全检测；检验检测 服务；道路货物运输（不含危险货物）；游艺娱乐活动；洗 ...