证券代码：603711 证券简称：香飘飘 公告编号：2025-043 香飘飘食品股份有限公司 关于对全资子公司增资的公告 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： 投资标的名称：香飘飘四川食品有限公司（以下简称"香飘飘四川"） 投资金额：香飘飘食品股份有限公司（以下简称"公司"）以自有资 金向全资子公司香飘飘四川增资 5,000 万元人民币。 本次增资事项无需提交公司董事会及股东会审议。 一、对外投资概述 （一）本次交易概况 1、本次交易概况 根据公司未来经营需要和战略规划，公司以自有资金对全资子公司香飘飘四 川增资 5,000 万元人民币。本次增资完成后，香飘飘四川注册资本将由 1,000 万元人民币增加至 6,000 万元人民币。增资完成后香飘飘四川仍为公司的全资子 公司。 2、本次交易的交易要素 根据《上海证券交易所股票上市规则》及《公司章程》相关规定，本次增资 事项尚未达到公司董事会及股东会的审议标准。 （三）本次增资事项不构成关联交易，亦不构成《上市公司重大资产重组管 理办法》规定的重大资产重组 ...

Core Viewpoint - The company, Xiangpiaopiao (603711.SH), announced a capital increase of 50 million RMB to its wholly-owned subsidiary, Xiangpiaopiao Sichuan, to support future operational needs and strategic planning [1] Group 1 - The registered capital of Xiangpiaopiao Sichuan will increase from 10 million RMB to 60 million RMB following the capital increase [1] - After the completion of the capital increase, Xiangpiaopiao Sichuan will remain a wholly-owned subsidiary of the company [1]

Core Viewpoint - The company, Xiangpiaopiao, announced a capital increase of 50 million RMB to its wholly-owned subsidiary, Xiangpiaopiao Sichuan, to support future operational needs and strategic planning [1] Group 1 - The registered capital of Xiangpiaopiao Sichuan will increase from 10 million RMB to 60 million RMB following the capital injection [1] - After the capital increase, Xiangpiaopiao Sichuan will remain a wholly-owned subsidiary of the company [1]

Core Viewpoint - Xiangpiaopiao (603711.SH) announced a capital increase of 50 million RMB to its wholly-owned subsidiary, Xiangpiaopiao Sichuan, to support future operational needs and strategic planning [1] Group 1 - The registered capital of Xiangpiaopiao Sichuan will increase from 10 million RMB to 60 million RMB after the capital increase [1] - Xiangpiaopiao Sichuan will remain a wholly-owned subsidiary of the company following the completion of the capital increase [1]

Core Viewpoint - The company Xiangpiaopiao (603711.SH) announced a capital increase of 50 million RMB to its wholly-owned subsidiary Xiangpiaopiao Sichuan, reflecting its future operational needs and strategic planning [1] Group 1 - The registered capital of Xiangpiaopiao Sichuan will increase from 10 million RMB to 60 million RMB after the capital increase [1] - Xiangpiaopiao Sichuan will remain a wholly-owned subsidiary of the company following the completion of the capital increase [1]

香飘飘公告称，公司拟以自有资金向全资子公司香飘飘四川增资5000万元，完成后其注册资本将从1000 万元增至6000万元，仍为全资子公司。本次增资无需董事会及股东会审议，不构成关联交易与重大资产 重组。增资用于香飘飘四川日常经营与发展，不会变更合并报表范围。香飘飘四川主营食品生产及销 售，2025年1-9月营收24268.20万元，净利润818.36万元。不过，未来经营或受宏观经济、行业政策、市 场需求变化影响。 ...

Industry Investment Rating - The investment rating for the food and beverage industry is "Outperform" [1] Core Insights - The report highlights that the liquor sector is actively releasing pressure on financial statements, with the industry gradually bottoming out. The frozen food sector is witnessing a turning point, while the soft drink and snack sectors maintain high levels of prosperity [3][4][30] Summary by Sections 1. Liquor - The liquor sector's total revenue for the first three quarters of 2025 was CNY 319.23 billion, a year-on-year decrease of 5.76%, with net profit down 6.85% to CNY 122.67 billion. In Q3 alone, revenue fell 18.38% to CNY 78.48 billion, and net profit dropped 22.00% to CNY 28.09 billion [14][28] - High-end liquor brands like Moutai showed stable growth, while others like Wuliangye and Luzhou Laojiao faced significant declines. Moutai's revenue grew by 9.28% year-on-year, while Wuliangye's fell by 10.26% [17][19] - The second-tier liquor brands, such as Fenjiu, showed resilience with a revenue increase of 5.00%, while others like Shui Jing Fang and Shede experienced declines [26][22] 2. Soft Drinks - The soft drink sector saw significant growth, with companies like Dongpeng Beverage reporting a 34.13% increase in revenue year-on-year. The energy drink segment, particularly, showed robust growth [30][31] - The introduction of new flavors and products, such as Dongpeng's summer limited edition, contributed to the sustained high growth rates in this sector [30] 3. Dairy Products - The dairy sector, led by Yili, maintained stable performance despite high base effects, with significant growth in milk powder and cold drink products. New Dairy's low-temperature products continued to show double-digit growth [4][31] 4. Frozen Foods - The frozen food industry is experiencing a turning point, with companies noting that the price war has peaked. The focus is shifting towards rational competition and value [7][30] 5. Snacks - The snack sector is undergoing strategic adjustments, with member stores and instant retail becoming key growth channels. The overall consumption environment remains weak, but the snack sector is adapting with targeted strategies [7][30]

Core Insights - The beverage industry is currently facing growth challenges, with a slight increase of 0.1% in retail value year-on-year for the first nine months of 2025, totaling 250.1 billion yuan, indicating near-zero growth [1] - Despite the industry downturn, the ready-to-drink segment of Xiangpiaopiao has shown resilient growth, achieving a revenue of 833 million yuan in the first nine months of 2025, a year-on-year increase of 3.92% [1] Group 1: Channel Strategy - Xiangpiaopiao's ready-to-drink business has become a key growth driver, surpassing the revenue contribution of its brewed products for the first time in the first half of 2025 [2] - The company has focused on two core channels: campus and bulk snack retail, leveraging these to build a strong foundation for its ready-to-drink segment [2] - The campus channel targets the Z generation, utilizing themed pop-up stores and sponsorship of campus events to enhance brand recognition and drive sales [2] Group 2: Bulk Snack Retail Channel - The bulk snack retail channel has seen significant growth, becoming a primary access point for fast-moving consumer goods [3] - Xiangpiaopiao has tailored small-sized, high-value products to fit various consumption scenarios, establishing strategic partnerships with leading snack chains, covering over 30,000 stores [3] - This channel's efficiency and consumer reach have significantly boosted brand exposure and market penetration for Xiangpiaopiao's ready-to-drink products [3] Group 3: Emerging Restaurant Channel - Xiangpiaopiao has identified the restaurant channel as a new growth opportunity, with the restaurant sector projected to reach 5.5 trillion yuan in revenue in 2024, growing by 5.3% [4] - The company has developed a product matrix tailored to dining needs, including Meco fruit tea and plant-based health drinks, enhancing brand visibility and consumer appeal [4] - Xiangpiaopiao is actively expanding its presence in restaurant chains, with successful pilot projects in cities like Jiangyin, Huzhou, and Shenzhen, and plans to extend to other key regions [5] Group 4: Future Growth Potential - The multi-channel strategy encompassing campus, bulk snacks, and restaurants is expected to create a robust growth framework for Xiangpiaopiao's ready-to-drink business [6] - The restaurant channel, with its large market potential and high compatibility with consumer needs, is anticipated to become a significant new growth driver alongside existing channels [6] - This strategic positioning aims to solidify Xiangpiaopiao's leadership in the cup tea market amidst increasing competition [6]

Core Viewpoint - The stock price of Xiangpiaopiao has shown fluctuations, with a recent increase of 2.66%, while the company has faced a year-to-date decline of 13.93% in stock price [1][2]. Financial Performance - For the period from January to September 2025, Xiangpiaopiao reported a revenue of 1.684 billion yuan, representing a year-on-year decrease of 13.12%. The net profit attributable to shareholders was -89.21 million yuan, a significant decline of 603.07% compared to the previous year [2]. - The company has cumulatively distributed 757 million yuan in dividends since its A-share listing, with 313 million yuan distributed over the last three years [3]. Stock Market Activity - As of November 5, the stock price was 13.90 yuan per share, with a total market capitalization of 5.739 billion yuan. The trading volume reached 75.26 million yuan, with a turnover rate of 1.33% [1]. - In the recent trading activity, there was a net inflow of 949,700 yuan from main funds, with large orders accounting for 11.60% of total purchases and 10.34% of total sales [1]. Shareholder Information - As of September 30, 2025, the number of shareholders decreased by 12.23% to 20,500, while the average circulating shares per person increased by 13.93% to 20,158 shares [2]. - The latest data indicates that Hong Kong Central Clearing Limited has exited the list of the top ten circulating shareholders [3].

来源：环球网 备受好评的香飘飘"名优茶系列"再度上新。10月28日，香飘飘"东方美人轻乳茶"上架电商平台，将于11月1日正式发售。该产品首次将来自中国台湾省的正宗东方美人原叶茶引入杯装奶茶领域 作为一款在老茶客中颇负盛名的小众名茶，东方美人茶的独特之处在于其经过"蝉咬磨砺"形成的特殊风味：茶叶必须经过小绿叶蝉叮咬吸食后，才能产生独特的蜜香与熟果香。 "我们想要让消费者品尝到最正宗、最地道的东方美人，所以在选择原料时，优先考虑采用核心原产地的顶级茶叶。"据香飘飘研发负责人介绍，东方美人轻乳茶选用的中国台湾东方美人茶叶均为 资料显示，中国台湾省新竹县是正宗东方美人茶核心产区。这里拥有得天独厚的地理环境，适宜茶树生长和小绿叶蝉存活。当地茶农坚持纯手工采摘，只取"一芽二叶"且芽片完整的蝉咬嫩芽。从 除了选用原产地顶级原料，香飘飘东方美人轻乳茶还通过独特配方提升口感层次。产品以正宗东方美人乌龙茶为基底，特别添加福建高香型金牡丹红茶，提升香气与风味层次。乳品方面采用锁鲜 "和香飘飘原叶现泡其它产品一样，东方美人轻乳茶也采用了独立原叶茶包，消费者可以自由选择冲泡方式。"研发负责人介绍，消费者饮用时可先调入牛乳和糖浆制成奶茶 ...