三只松鼠主营业务净利润下跌超79% 三个月内两次涨价 同样是卖零食，三只松鼠是零食品牌商，同时兼营零售渠道；万辰集团则是量贩零食渠道商，同时也有 一些自有品牌。对比往年，三只松鼠去年的净利润水平已经低于2024年、2023年，而万辰集团净利润则 与前两年一样，仍在快速增长。 除了披露净利润外，业绩预告显示，三只松鼠预计，2025年，其扣除非经常性损益的净利润为4500万元 至6500万元，同比下降了79.64%至85.91%。也就是说，其主营业务净利润下降得更快。 同样是卖零食，同一天发布业绩预告的三只松鼠和万辰集团，业绩冰火两重天。 对于业绩变动，三只松鼠称，2025年度，公司坚定贯彻"高端性价比"总战略，并向品质化和差异化持续 升级。由于2025年度销售旺季（年货节）结构性错档、坚果原料价格较大幅度上涨、主动调整销售结构 （优化传统店型、整合渠道资源、缩减低效品类等），综合导致利润下滑。与此同时，公司抢抓社区零 售新赛道机遇，推出全品类自有品牌"生活馆"新店型，配套打造基于生鲜和现制的"中央厨房"，聚焦长 期高质量增长，前期战略性投入进一步影响阶段利润产出。 1月29日，三只松鼠发布业绩预告称，2025年 ...

证券代码：603777 证券简称：来伊份 上海来伊份股份有限公司 2026年第一次临时股东会 会议资料 $$\underline{{{\ \ \ }}}\,\mathrm{O}\,\underline{{{\ \ \ }}}\,\mathrm{\underline{{{\ \ \ }}}}\,\mathrm{\underline{{{\ \ \ }}}}\,\mathrm{\underline{{{\ \ \ \ }}}}\,\mathrm{\underline{{{\ \ \ \ }}}}\,\mathrm{\underline{{{\ \ \ \ \ }}}}\,\mathrm{\underline{{{\ \ \ \ \ }}}}$$ 2026年第一次临时股东会会议资料 上海来伊份股份有限公司 2026年第一次临时股东会会议议程 | 序号 | 议案名称 | | --- | --- | | | 非累积投票议案 | | 1 | 关于使用部分闲置自有资金进行现金管理的议案 | | 2 | 关于2025年度日常关联交易执行情况及2026年度日常关联交易预计的议案 | | 3 | 关于向控股子公司提供财务资助的议 ...

根据参与对象实际认购情况及最终缴款审验结果，本持股计划实际参与认购 的员工共计 5 人，认购资金已全部实缴到位，最终认购份额为 2,073.00 万份，缴 纳认购资金总额为 2,073.00 万元，认购份额对应股份数量为 300.00 万股，股票 来源为公司回购专用账户回购的来伊份 A 股普通股股票。 证券代码：603777 证券简称：来伊份 公告编号：2026-013 上海来伊份股份有限公司 关于第三期员工持股计划完成非交易过户的公告 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。 上海来伊份股份有限公司（以下简称"公司"）于 2025 年 9 月 26 日召开公司 第五届董事会第十九次会议，于 2025 年 10 月 15 日召开公司 2025 年第三次临时 股东会，审议通过了《关于<上海来伊份股份有限公司第三期员工持股计划（草 案）>及其摘要的议案》及相关议案，同意公司实施第三期员工持股计划（以下 简称"本持股计划"）。具体内容详见公司分别于 2025 年 9 月 27 日、2025 年 10 月 16 日在上海证券交易 ...

【环球网财经综合报道】作为休闲食品行业的代表性企业，来伊份近年来聚焦"万家灯火"战略核心，全力推进从传统重资产直营模式向"直营+加盟"双轮驱 动转型，并朝着"连锁管理服务+供应链平台型企业"的目标持续进阶，目前相关转型已取得实质性进展。 费用结构的显著优化成为轻资产转型最直接的财务体现，降本增效成果持续释放。2024年，来伊份销售费用较2022年下降约25%，减少金额达3.25亿元；其 中与直营门店相关的费用降低19%，广告宣传费用大幅减少62%。具体来看，2024年公司管理费用和销售费用分别同比下降11.9%和14.17%，且销售费用已 连续三年保持下降态势。这一良好态势在2025年得以延续，前三季度销售费用率和管理费用率分别同比下降5.5个百分点和2.1个百分点，费用总额同比分别 减少7.27%和4.73%。 渠道结构的根本性重塑是来伊份此次转型的核心所在。公司已从过去以直营为主转向"直营+加盟"双轮驱动策略。这一转型的关键里程碑出现在2024年，当 年加盟门店数量首次超过直营门店，占比达到51.9%，此后加盟业务占比持续稳步攀升。截至2025年6月底，来伊份门店总数已达2979家，其中加盟门店 1584 ...

Group 1: Company Announcements - Hunan Mingming Hen Mang Commercial Chain Co., Ltd. (Mingming Hen Mang) has officially launched its global offering and plans to list on the Hong Kong Stock Exchange on January 28, 2024, with a total of 14.1011 million shares available for sale, expecting to raise approximately HKD 3.124 billion after expenses [1] - Good Products Co. has announced an expected net loss of RMB 120 million to RMB 160 million for the fiscal year 2025, primarily due to a decline in sales revenue and adjustments affecting gross margins [3] - Junlebao Dairy has submitted its prospectus to the Hong Kong Stock Exchange, reporting revenues of RMB 175.5 billion, RMB 198.3 billion, and RMB 151.3 billion for the years 2023 to 2025, with net profit increasing from RMB 558,000 to RMB 9 billion, a growth of over 700% [4] Group 2: Market Trends and Consumer Behavior - Taobao Flash Delivery has announced a subsidy of nearly RMB 2 billion for city couriers during the 2026 Spring Festival to enhance their income and reward their commitment [8] - Recent data indicates that trophy-related searches on Taobao have increased by over 50% year-on-year, with customized trophies for self-gifting seeing the highest demand [8] - The convenience food market in China shows that Kang Shifu has further increased its market share, with new products accounting for 2.51% of the market in Q4 2025, significantly ahead of competitors [17] Group 3: Financial Performance and Projections - Salia reported a net profit increase of 16% to 3 billion yen for the period from September to November 2025, with sales reaching 70.2 billion yen, a 15% increase [9] - Nanjing Xinbai expects a net loss of between RMB 839 million and RMB 1.026 billion for 2025, primarily due to goodwill and intangible asset impairments [18] - Laiyifen anticipates a net loss of approximately RMB 170 million for 2025, with adjustments to store numbers and gross margins impacting performance [18]

Group 1 - The leisure food sector increased by 1.54% on January 20, with Wancheng Group leading the gains [1] - The Shanghai Composite Index closed at 4113.65, down 0.01%, while the Shenzhen Component Index closed at 14155.63, down 0.97% [1] - Key stocks in the leisure food sector showed significant price movements, with Wancheng Group rising by 6.04% to a closing price of 212.00 [1] Group 2 - The leisure food sector experienced a net outflow of 60.30 million yuan from institutional investors, while retail investors saw a net inflow of 75.82 million yuan [2] - Notable declines were observed in stocks such as Three Squirrels, which fell by 2.07% to a closing price of 24.58 [2] - The trading volume and turnover for various stocks in the sector varied, with significant activity noted in stocks like Haoxiangni and Ximai Food [2] Group 3 - Haoxiangni had a net inflow of 79.89 million yuan from institutional investors, while it faced a net outflow of 78.76 million yuan from retail investors [3] - Ximai Food also saw a net inflow of 10.14 million yuan from institutional investors, with retail investors experiencing a net outflow [3] - The data indicates varying levels of investor interest across different stocks within the leisure food sector, highlighting the dynamics of institutional versus retail investment [3]

公开资料显示，早在2023年，来伊份试点推出首期加盟商支持计划，资金定向用于加盟商的门店经营， 为新开门店的市场培育、成熟门店的市场拓展提供流动性支持。该公司表示，此举将有效缓解加盟商日 常运营中的流动性压力，进一步强化加盟商与公司的合作黏性。 目前，休闲零食行业已进入渠道精细化竞争阶段，直营转加盟模式既能借助加盟商的本地资源快速渗透 市场。来伊份方面表示，未来，随着加盟生态的不断成熟与规模效应的持续释放，公司的业绩有望进一 步改善，实现增长曲线的重塑。 1月16日晚间，上海来伊份（603777）股份有限公司(以下简称"来伊份")发布公告称，拟向现有及新增 加盟商推出专项资金支持计划，资金将用于门店经营周转，资助期限最长不超过36个月。来伊份表示， 以加盟经营模式为核心的"万家灯火"战略，是公司顶层发展规划，此次专项支持计划旨在充分激发加盟 商创业积极性，为战略加速落地注入持续动力。 公告显示，此次专项支持资金将用于加盟商承接直营店或新开加盟店，助力加盟商长期、稳定经营。记 者注意到，2025年上半年，来伊份加盟业务营收为7.22亿元，同比增长78.65%。有业内人士表示，来伊 份此次加码支持有望进一步提速加 ...

Economic Information - Several smartphone manufacturers, including Xiaomi, OPPO, vivo, and Transsion, have lowered their annual shipment forecasts, with Xiaomi and OPPO reducing by over 20%, vivo by nearly 15%, and Transsion to below 70 million units [2] - Silver prices have surged over 50% in one month and over 150% in six months, impacting the photovoltaic industry, which consumes a significant amount of silver. The cost of raw materials for solar cells has increased by nearly 20% due to rising silver prices [2] - The company Xibei is expected to incur cumulative losses exceeding 600 million yuan from September 2025 to March 2026, leading to the closure of 102 stores, accounting for 30% of its total outlets [2] Company Alerts - Shenghong Technology anticipates a net profit increase of 260%-295% year-on-year for 2025, although Q4 performance fell short of expectations [4] - Cambridge Technology expects a net profit increase of 51%-67% year-on-year for 2025, with Q4 results also below expectations [4] - Multiple companies, including Weimait and Youyan Silicon, have announced plans to reduce their shareholdings by up to 4.98% and 3% respectively [4][11] Overseas Alerts - The three major U.S. stock indices collectively declined last Friday, with the Nasdaq China Golden Dragon Index dropping by 1.15%. Notable declines were seen in Chinese stocks such as Alibaba and JD.com [5] - The European Union is considering imposing tariffs on U.S. goods worth 93 billion euros in response to U.S. tariffs on eight European countries, which could take effect on February 6 if no agreement is reached [5]

Core Viewpoint - Shanghai Laiyifen Co., Ltd. is expected to report a net loss of approximately 170 million yuan for the year 2025, with a significant increase in losses compared to the previous year [1] Group 1: Financial Performance - The company anticipates a net profit loss of around 170 million yuan for 2025, with a net profit loss of approximately 190 million yuan after excluding non-recurring gains and losses [1] - In comparison, the net profit loss for the same period in 2024 was 75.27 million yuan, and the net profit loss after excluding non-recurring items was 90.03 million yuan [1] Group 2: Cash Management Plan - The company plans to use part of its idle funds for cash management, with a maximum daily balance not exceeding 1 billion yuan [5] - The investment will be in low to medium-risk financial products issued by banks, securities firms, fund companies, insurance companies, or trust companies, with a maximum product duration of one year [5] - The investment plan has been approved by the board and will be submitted for shareholder approval [6]

Key Points - China Metallurgical Group Corporation (China MCC) expects a decline of over 50% in net profit attributable to shareholders in 2025 due to losses in the real estate sector and increased asset impairment provisions [1] - JAC Motors anticipates a net loss of approximately 1.68 billion yuan in 2025, although this represents a reduction in losses compared to the previous year [2] - Northern Rare Earth forecasts a net profit increase of 116.67% to 134.60% in 2025, driven by improved sales and production efficiency in rare earth products [3] - Shenghong Technology projects a net profit increase of 260.35% to 295% in 2025, attributed to the growing demand for AI infrastructure and high-end products [4] - Lanke Technology expects a net profit increase of 52.29% to 66.46% in 2025, benefiting from strong demand in the AI industry [7] - Aiwai Electronics anticipates a net profit increase of 17.70% to 29.47% in 2025, focusing on high-value chip solutions [25] - Longxin General expects a net profit increase of 47.15% to 60.53% in 2025, driven by steady growth in its core motorcycle and general machinery businesses [28] - China One Heavy Industry predicts a net loss of 310 million to 460 million yuan in 2025, although this represents a significant reduction from the previous year's loss [35] - Kunda Technology expects a net loss of 1.2 billion to 1.5 billion yuan in 2025, impacted by industry supply-demand imbalances [34] - Daqing Energy anticipates a net loss of 1 billion to 1.3 billion yuan in 2025, although this reflects a narrowing of losses compared to the previous year [42]