青岛日辰食品股份有限公司 2024 年第三季度报告 单位：元 币种：人民币 1 / 12 证券代码：603755 证券简称：日辰股份 青岛日辰食品股份有限公司 2024 年第三季度报告 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： 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整，不存 在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 公司负责人、主管会计工作负责人及会计机构负责人（会计主管人员）保证季度报告中财务信息 的真实、准确、完整。 第三季度财务报表是否经审计 □是 √否 一、 主要财务数据 （一） 主要会计数据和财务指标 | --- | --- | --- | --- | --- | |------------------------------------------------|----------------|--------------------------------------|----------------|--------------- ...

投资评级:增持(维持) 核心观点 | --- | --- | |------------------------|------------| | 基本数据 | 2024-09-12 | | 收盘价 ( 元 ) | 22.82 | | 流通股本 ( 亿股 ) | 0.99 | | 每股净资产 ( 元 ) | 7.12 | | 总股本 ( 亿股 ) | 0.99 | | 最近 12 月市场表现 | | -50% -40% -30% -20% -10% 1% 日辰股份 沪深300 分析师 佘炜超 SAC 证书编号：S0160522080002 shewc@ctsec.com 相关报告 1. 《Q1 业绩稳健增长，食品加工渠道 增速可观》 2024-04-30 2. 《Q3 营收净利同比增长，业绩持续 向好》 2023-10-25 3. 《Q2 营收净利同比双增，业绩逐季 恢复》 2023-08-22 日辰股份(603755) / 调味发酵品Ⅱ / 公司点评 / 2024.09.13 Q2 营收净利同比双增，业绩彰显韧性 证券研究报告 ❖ 事件：公司 2024H1 营收+15.2%，归母净利润+20.7%；2024Q ...

证券代码：603755 证券简 编号：2024-08-30 称：日辰股份 青岛日辰食品股份有限公司 投资者关系活动记录表 | --- | --- | --- | |---------------|--------------------------------------------|-----------------------------------------------------------------------------------------------------------------------------| | | | | | | R 特定对象调研 | £ 分析师会议 | | | £ 媒体采访 | R 业绩说明会 | | 投资者关系 | £ 新闻发布会 £ 路演活动 | | | 活动类别 | £ 现场参观 | £ 电话会议 | | | R 其他（证券公司策略会） | | | | | 野村资管、华安基金、交银施罗德、平安养老、平安资管、中欧基金、 | | | | 兴合基金、富安达、国联基金、国华兴益、财通证券、中金公司、海通 | | 参与单位 名称 | | 证券、广发证券、华西证券、华 ...

证券研究报告|公司点评报告 [Table_Date] 2024 年 08 月 22 日 [Table_Title] 餐饮客户快速增长，盈利能力持续提升 | --- | --- | --- | --- | |------------------|------------------------|-----------------------|-------------| | [Table_DataInfo] | 评级： 买入 股票代码： | | 603755 | | 上次评级： 买入 | | 52 周最高价/最低价： | 32.51/14.17 | | | 目标价格： 总市值(亿 | ) | 23.79 | | 最新收盘价： | 24.12 | 自由流通市值 (亿) | 23.79 | | | | 自由流通股数(百万 ) | 98.61 | [Table_Summary] 事件概述 公司上半年实现营业收入 1.87 亿元，同比+15.16%；归母净利润 0.29 亿元，同比+20.68%；扣非归母净利润 0.27 亿元，同比 24.7%。24Q2 营业收入 0.96 亿元，同比+15.58%；归母净利润 0.1 ...

证 券 研 报 公 司 研 2024 年 08 月 22 日 究 | --- | --- | --- | |----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|---------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------- ...

华福证券 日辰股份（603755.SH） Q2 餐饮渠道高增，创新驱动业绩持续增长 事件：公司披露 2024 年半年度业绩：24 年 H1 公司实现营收 1.87 亿元， 同比+15.16%；归母净利润 0.29 亿元，同比+20.68%；扣非归母净利润 0.27 亿元，同比 24.7%。其中，24Q2 营收 0.96 亿元，同比+15.58%； 归母净利润 0.16 亿元，同比+20.37%；扣非归母净利润 0.15 亿元，同 比+24.82%。24H1 公司营收、利润均实现稳健增长。 产品创新驱动下，Q2 餐饮渠道逆势增长超预期 分渠道看，Q2 公司餐饮、食品加工、品牌定制、直营商超、直营电商、 经 销 商 （ 零 售 ） 渠 道 营 收 分 别 同 比 +37.94%/-2.21%/+14.77%/-14.47%/+23.26%/-40.04%；其中，餐饮渠道在 整体餐饮消费放缓之际增长超预期，主要系公司在客户端持续固老开新以 及产品端坚持创新驱动，如近三年开发的新品销售占比超过 50%，24H1 酱 汁类、粉体类复调分别新增 400 多款/140 多款产品，故预计 Q2 新品增长 贡献较好；此外，Q2 ...

青岛日辰食品股份有限公司 中小投资者单独计票管理办法 （2024 年 8 月） 第一章 总则 第一条 为维护中小投资者合法权益，充分体现青岛日辰食品股份有限公 司（以下简称"公司"）中小投资者对重大事项决策中的意愿和诉求，保障中小 投资者依法行使权利，根据国务院《关于进一步促进资本市场健康发展的若干意 见》、国务院办公厅《关于进一步加强资本市场中小投资者合法权益保护工作的 意见》《上海证券交易所上市公司自律监管指引第1号——规范运作》等法律法 规、规范性文件及《青岛日辰食品股份有限公司章程》（以下简称"《公司章程》"） 的相关规定，结合公司实际情况，特制定本办法。 第二条 本办法所称中小投资者是指除下列人员之外的投资者： (一) 持有公司股份的公司董事、监事、高级管理人员； (二) 单独或合计持有公司百分之五以上（含本数）股份的股东。 第二章 单独计票的适用范围 第三条 股东大会审议影响中小投资者利益的重大事项时，对中小投资者表 决应当单独计票。本办法所称影响中小投资者利益的重大事项包括下列事项（以 下简称"单独计票事项"）： （一）提名、任免董事和非职工代表监事； （二）聘任、解聘高级管理人员； （三）董事 ...

Financial Performance - Revenue for the first half of 2024 reached RMB 187.45 million, a 15.16% increase compared to the same period last year[14] - Net profit attributable to shareholders of the listed company was RMB 28.73 million, up 20.68% year-on-year[14] - Net cash flow from operating activities increased by 23.09% to RMB 26.97 million[14] - Basic earnings per share increased by 20.83% to 0.29 yuan per share compared to the same period last year[15] - Diluted earnings per share also increased by 20.83% to 0.29 yuan per share[15] - Non-recurring gains and losses amounted to 1,304,268.79 yuan, including government subsidies of 164,485.25 yuan and financial asset gains of 1,546,117.33 yuan[16][17] - Total revenue for the first half of 2024 reached 187,450,901.31 RMB, a 15.1% increase compared to 162,772,125.24 RMB in the same period of 2023[103] - Net profit for the first half of 2024 was 28,730,950.24 RMB, up 20.7% from 23,807,230.66 RMB in the first half of 2023[104] - Operating profit for the first half of 2024 was 32,796,930.32 RMB, a 16.8% increase from 28,083,742.09 RMB in the same period of 2023[104] - Revenue for the first half of 2024 reached 185,876,443.01 RMB, a 15.7% increase compared to 160,597,546.95 RMB in the same period of 2023[106] - Operating profit for the first half of 2024 was 32,850,520.95 RMB, up 4.6% from 31,405,273.17 RMB in the same period of 2023[108] - Net cash flow from operating activities in the first half of 2024 was 26,966,670.12 RMB, a 23.1% increase compared to 21,908,777.18 RMB in the same period of 2023[109] - Basic earnings per share (EPS) for the first half of 2024 was 0.29 RMB, up 20.8% from 0.24 RMB in the same period of 2023[105] - Total comprehensive income attributable to the parent company for the first half of 2024 was 28,730,950.24 RMB, a 20.7% increase compared to 23,807,230.66 RMB in the same period of 2023[105] - Sales revenue from goods and services in the first half of 2024 was 200,753,540.32 RMB, an 11.4% increase compared to 180,147,713.98 RMB in the same period of 2023[109] - Cost of goods sold for the first half of 2024 was 115,914,733.26 RMB, an 18.0% increase compared to 98,246,928.29 RMB in the same period of 2023[106] - Net profit for the first half of 2024 was 28,047,168.33 RMB, a 2.1% increase compared to 27,481,824.90 RMB in the same period of 2023[108] - Total comprehensive income for the period was RMB 23,807,230.66[116] - Comprehensive income for the parent company was RMB 28,047,168.33[117] - Comprehensive income for the period amounts to RMB 27,481,824.90[119] Assets and Liabilities - Total assets as of the end of the reporting period were RMB 963.15 million, a slight increase of 0.09% compared to the end of the previous year[14] - Cash and cash equivalents increased by 318.79% to RMB 185.36 million, mainly due to the maturity of financial products[51][52] - Trading financial assets decreased by 100% to RMB 0, primarily due to the maturity of financial products[51][52] - Other non-current financial assets decreased by 50% to RMB 20 million, mainly due to the recovery of part of the industrial investment fund[51][52] - Fixed assets increased by 159.17% to RMB 171.29 million, mainly due to the transfer of construction in progress to fixed assets[51][52] - Other non-current assets increased by 700.29% to RMB 34.57 million, mainly due to an increase in prepaid equipment payments[51][52] - Employee benefits payable decreased by 31.97% to RMB 6.45 million, mainly due to the payment of the previous year's year-end bonus[51][52] - Non-current liabilities due within one year decreased by 96.28% to RMB 348,409.83, mainly due to the repayment of bank loans[51][52] - Total assets of Richen Food Sales (Shanghai) Co., Ltd. were RMB 16.10 million, with a net loss of RMB 4.91 million[58] - Total assets of Richen Food (Jiaxing) Co., Ltd. were RMB 470.50 million, with a net profit of RMB 992,600[59] - Total assets as of June 2024 stood at 880,447,633.28 RMB, slightly down from 882,135,568.27 RMB at the end of 2023[101] - Total liabilities decreased to 182,361,035.09 RMB in June 2024 from 184,118,509.20 RMB at the end of 2023[102] - Long-term equity investments remained stable at 437,915,519.06 RMB in June 2024, compared to 437,594,672.50 RMB at the end of 2023[101] - Fixed assets increased significantly to 170,402,615.75 RMB in June 2024 from 65,982,098.97 RMB at the end of 2023, reflecting capital expenditure[101] - Short-term borrowings rose to 105,347,885.61 RMB in June 2024 from 86,633,965.98 RMB at the end of 2023[101] - Total equity slightly increased to 698,086,598.19 RMB in June 2024 from 698,017,059.07 RMB at the end of 2023[102] - The company's total assets increased slightly from 962.3 million yuan to 963.15 million yuan, showing a marginal growth of 0.09%[97][98][99] - Cash and cash equivalents surged significantly from 44.26 million yuan to 185.36 million yuan, a 318.8% increase[97] - Fixed assets grew substantially from 66.09 million yuan to 171.29 million yuan, representing a 159.1% increase[97] - Short-term borrowings rose from 86.63 million yuan to 105.35 million yuan, a 21.6% increase[98] - Accounts receivable remained relatively stable, increasing slightly from 69.29 million yuan to 70.42 million yuan, a 1.6% growth[97] - Inventory decreased marginally from 31.94 million yuan to 31.61 million yuan, a 1% reduction[97] - Long-term equity investments remained nearly unchanged at approximately 100.14 million yuan[97] - Total liabilities showed minimal change, decreasing slightly from 260.66 million yuan to 260.75 million yuan[98][99] - Retained earnings increased from 198.95 million yuan to 227.68 million yuan, a 14.4% growth[99] - The company's capital reserve grew from 354.77 million yuan to 356.96 million yuan, a 0.6% increase[99] Business Operations and Strategy - The company's main business involves compound seasonings, including solid, liquid, and semi-solid forms[6] - The company has partnerships with major food and beverage chains such as Xiabu Xiabu, Ajisen Ramen, and Yuku[6] - The company's main products include sauce-based seasonings, powder-based seasonings, and a small amount of food additives, with over a thousand varieties[18] - The company employs a "sales-to-production, production-to-purchase" procurement model, utilizing SAP systems for inventory and production planning[19] - Production is based on a "sales-to-production" model, with a flexible production management system for customized seasoning solutions[20] - Sales are primarily direct, targeting food processing and chain餐饮 enterprises, with some products sold through自有品牌 "味之物语" in商超 and电商 platforms[21] - The company also uses a经销 model to expand market coverage through经销商 networks, focusing on商超,流通市场, and small餐饮 enterprises[22] - Customized酱汁类调味料 products include腌制酱, 涂抹酱, 拌面酱, and火锅料, catering to食品加工 and餐饮企业 needs[23] - Powder-based调味料 products include裹粉裹浆, 腌制类调味粉, and复合汤粉, used in油炸类, 腌制类, and烧烤类 products[24] - The company's main target markets include: ① export and domestic sales markets for prepared foods; ② domestic catering, especially chain catering markets; ③ domestic retail terminal consumer markets; ④ domestic pre-made dishes and baking premix markets[35] - The company is one of the earliest professional compound seasoning enterprises in China, with a first-mover advantage. It has long-term cooperation with major domestic and international food industrial enterprises, and its market reputation and market share continue to grow[36] - The company has a significant advantage in the food processing channel, with a well-established multi-channel market layout. It has developed a stable customer base and a good market reputation, and its market share continues to increase[37] - The company has leading product R&D capabilities and can quickly respond to customer needs. It has a strong R&D team that continuously tracks and analyzes the catering market and consumer preferences, optimizing product flavors and production processes[38] - The company has a strict safety and quality control management system, ensuring product quality. It has established a comprehensive quality control system and a "four-ring-one-chain" food safety quality traceability system[40] - The company has an experienced management team with over 10 years of experience in the seasoning industry, providing a solid foundation for long-term development[41] - The company is committed to becoming a leading enterprise in the seasoning industry driven by digitalization, with a focus on upgrading digital workshops and enhancing supply chain management capabilities[42] - The company is advancing digital transformation, optimizing systems like MES and SAP to enhance supply chain management and operational efficiency[46] - The Shanghai operation center has been put into operation, serving as a sales management and R&D experience hub for the Yangtze River Delta market[47] - The company's "Weiwuzhiyu" brand has seen increasing recognition through offline and online channels, including Douyin, JD.com, Tmall, and Pinduoduo[45] - The company is focusing on customized compound seasoning solutions, with a dedicated R&D team for product development and formula improvements, but faces challenges in market acceptance and promotion[65] - The company is expanding its marketing channels, including supermarkets and e-commerce platforms like Douyin, JD.com, Tmall, and Pinduoduo, to target individual consumers and enhance brand influence[66] - The company's efforts to convert individual consumers into direct customers through supermarket and e-commerce channels have not yet achieved significant success, potentially impacting its competitive position[67] Industry and Market Trends - The compound seasoning industry in China is in the early stage of rapid growth, with market penetration increasing quickly, but still lags behind developed countries in terms of penetration rate[26] - The catering industry in China has grown from 2.9 trillion yuan in 2014 to 5.2 trillion yuan in 2023, maintaining a stable growth rate of around 10%, providing a stable growth space for compound seasonings[27] - The chain rate of the catering market in China increased from 15% in 2020 to 21% in 2023, with faster growth in third-tier and below cities compared to first and second-tier cities[28] - The CR5 and CR10 of China's seasoning industry in 2021 were 18.8% and 26.6% respectively, significantly lower than the 46.4% and 61.6% in the US and 26.1% and 36.5% in Japan, indicating room for further concentration in the Chinese market[30] - The development of cold chain logistics and commercial retail provides important support for the compound seasoning industry, ensuring taste stability and reducing transportation costs[29] - The online sales channel is becoming increasingly important for compound seasoning brands, especially for brand exposure and consumer communication, although offline channels remain dominant[32] - The compound seasoning industry is transitioning from traditional offline distribution channels to a new retail system combining online and offline channels[32] - The demand for compound seasonings is increasing due to the fast-paced lifestyle of younger consumers, who prefer convenient and standardized products[28] - The catering industry's trend towards standardization and fast food is driving the growth of the compound seasoning industry[27] - The compound seasoning industry is expected to see further concentration due to improved industry standards, increased brand awareness, and intensified competition[31] - The compound seasoning industry is experiencing rapid growth due to the development of the domestic catering industry and centralized procurement models, but the market remains fragmented with intense competition[64] Corporate Governance and Shareholder Information - The company's registered and office address remains unchanged at No. 20 Longshan Road, Qingdao Environmental Protection Industrial Park, Jimo District, Qingdao[11] - The company's website and email address for investor relations remain unchanged at www.richen-qd.cn and rcspzqb@richen.com, respectively[11] - The company's stock is listed on the Shanghai Stock Exchange under the ticker symbol 603755[13] - The company held its 2023 Annual General Meeting on April 19, 2024, approving various reports and proposals, including the 2023 financial report and the 2024 executive compensation plan[68] - No profit distribution or capital reserve conversion plan was proposed for the first half of 2024[69] - The company canceled 602,896 stock options from the 2021 incentive plan and 621,000 stock options from the 2022 incentive plan due to unmet conditions and changes in employee status[70] - The company's控股股东承诺每年减持股份不超过上年度末所持公司股份总数的25%, with减持价格不低于首次公开发行股票价格[77] - The company's实际控制人承诺在任职期间及离职后6个月内,每年间接转让股份不超过所持公司股份总数的25%[77] - The company's董事、监事、高级管理人员承诺在任职期间及离职后6个月内,每年间接转让股份不超过所持公司股份总数的25%[77] - The company's控股股东承诺减持股份将遵守相关法律法规,并及时履行信息披露义务[78] - The company's total guarantee amount (including guarantees for subsidiaries) is 4,034.78 million yuan, accounting for 5.74% of the company's net assets[84] - The total amount of guarantees provided to subsidiaries during the reporting period is 4,034.78 million yuan[84] - The company's total raised funds from the initial public offering is 38,716.20 million yuan, with a net amount of 34,266.06 million yuan after deducting issuance costs[85] - As of the reporting period, the cumulative investment in raised funds is 24,640.91 million yuan, with an investment progress of 71.91%[85] - The investment amount in the current year is 3,736.01 million yuan, accounting for 10.90% of the total raised funds[85] - The company has invested RMB 2,998.12 million in the construction of a 15,000-ton compound seasoning production base, with a cumulative investment of RMB 13,114.28 million, achieving 78.54% of the planned investment[86] - The company has invested RMB 651.29 million in the construction of a 5,000-ton soup extract production line, with a cumulative investment of RMB 6,428.86 million, achieving 58.72% of the planned investment[86] - The marketing network construction project has been completed with a cumulative investment of RMB 2,992.74 million, achieving 79.83% of the planned investment and leaving a surplus of RMB 1,145.34 million[86] - The technology center upgrade project has been completed with a cumulative investment of RMB 2,105.03 million, achieving 73.31% of the planned investment and leaving a surplus of RMB 1,058.00 million[86] - The company has used RMB 3,736.01 million in the first half of 2024 for various investment projects, with a cumulative investment of RMB 24,640.91 million[86] - The company has completed a share repurchase plan, repurchasing 1,420,000 shares at an average price of RMB 21.24 per share, totaling RMB 30,167,647.66[88] - The company has 5,962 ordinary shareholders as of the end of the reporting period[89] - The largest shareholder, Qingdao Boya Investment Holding Co., Ltd., holds 50.69% of the company's shares, with 22,560,500 shares pledged[89] - The second-largest shareholder, Zhang Huajun, holds 9.11% of the company's shares, with 3,610,000 shares pledged[89] - The company has no changes in its share capital structure during the reporting period[89] - Beijing Huano Investment Management Co., Ltd. - Huano Investment Taiding No. 1 Private Securities Investment Fund holds 2,238,500 shares, accounting for 2.27% of the total shares[90] - Qingdao Richen Food Co., Ltd. repurchase special securities account holds 1,420,000 shares, accounting for 1.44% of the total shares[90] - Zhang Huajun, the actual controller, holds 8,980,000 shares, accounting for 9.11% of the total shares, and holds 95% of the shares in Qingdao Boya Investment Holding Co., Ltd.[90][92] - Zhang Huajun increased his shareholding by 4,000,000 shares through a share transfer agreement with Qingdao Boya, bringing his total holdings to 8,980,000 shares[92] - Qingdao Boya transferred 2,000,000 shares (2.03% of total shares) to Zhang Huajun on January 25, 2024, and another 2,000,000 shares on March 7, 2024

然后我这边也是提前收集了一些投资人非常关心的问题先跟您进行一个请教然后后续我们也会开放评论环节那首先还是想跟您请教一下行业方面的情况现在也是五月底了嘛就是想问问咱们四五月感受到的整个不管是下游的这个连锁餐饮还是食品工业方面这个需求修复的一个情况以及现在咱们对整个二季度的这样一个预期或者说展望是怎么样的谢谢 好的 各位都在这儿大家好很高兴今天和大家做一个简单的一个交流关于这个最近的行业的一些形式可能大家基本上也能感觉得到包括一些这个媒体也会有一些报告因为从今年从年初到现在的情况来看的话春节期间即使这个整个消费包括餐饮大家能感觉到还是比较红火的包括因为这个过节的因素 这种情况从去年下半年开始就出现过几次 到三四月份一级包括五一之后五月份也要过去了有些报告也在说整个参与市场像北京上海可能同比还是有所下滑从公司的这种感受来看的确是下游的需求还没有持续的恢复尤其是也是从三月份开始 尤其是一些我们的一些老的客户也能明显感觉到这个订单也不是那么的不像春节前那么的着急从我们公司本身来看的话以我们一季度差不多通比有个15的增长利润有个20左右三次要费有所放缓但是通比也是一个正的增长 过了五一之后到了五月份我们由于可能有一些客户 ...

然后我这边也是提前收集了一些投资人非常关心的问题先跟您进行一个请教然后后续我们也会开放评论环节那首先还是想跟您请教一下行业方面的情况现在也是五月底了嘛就是想问问咱们四五月感受到的整个不管是下游的这个连锁餐饮还是食品工业方面这个需求修复的一个情况以及现在咱们对整个二季度的这样一个预期或者说展望是怎么样的谢谢 好的 各位都在这儿大家好很高兴今天和大家做一个简单的一个交流关于这个最近的行业的一些形式可能大家基本上也能感觉得到包括一些这个媒体也会有一些报告因为从今年从年初到现在的情况来看的话春节期间即使这个整个消费包括餐饮大家能感觉到还是比较红火的包括因为这个过节的因素 这种情况从去年下半年开始就出现过几次 到三四月份一级包括五一之后五月份也要过去了有些报告也在说整个参与市场像北京上海可能同比还是有所下滑从公司的这种感受来看的确是下游的需求还没有持续的恢复尤其是也是从三月份开始 尤其是一些我们的一些老的客户也能明显感觉到这个订单也不是那么的不像春节前那么的着急从我们公司本身来看的话以我们一季度差不多通比有个15的增长利润有个20左右三次要费有所放缓但是通比也是一个正的增长 过了五一之后到了五月份我们由于可能有一些客户 ...