证券日报网讯 8月13日晚间，佳禾食品发布公告称，截至公告披露日，公司实际发生且尚在履行中的担 保金额为29，800万元，均为对合并报表范围内子公司提供的对外担保，占公司最近一期经审计归属于 母公司股东的净资产的13.83%。公司无逾期担保。 （编辑 任世碧） ...

证券代码：605300 证券简称：佳禾食品 公告编号：2025-066 佳禾食品工业股份有限公司 关于为控股子公司提供担保的进展公告 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： 担保对象及基本情况 | | | 被担保人名称 本次担保金额 | 2,000 | 上海蓝蛙国际贸易有限公司 万元 | | | --- | --- | --- | --- | --- | --- | | 担 | 保 对 | | | | | | 象 | | 实际为其提供的担保余额 | 9,000 | 万元 | | | | | 是否在前期预计额度内 | 是 | □否 | □不适用：_________ | | | | 本次担保是否有反担保 | □是 | 否 | □不适用：_________ | 累计担保情况 | 对外担保逾期的累计金额（万元） | | 0 | | --- | --- | --- | | 截至本公告日上市公司及其控股 子公司对外担保金额（万元） | | 29,800 | | 对外担保金额占上市公司最近一 期经审计净资产的比例 ...

| 对外担保逾期的累计金额（万元） | 0 | | --- | --- | | 截至本公告日上市公司及其控股 | 27,800 | | 子公司对外担保金额（万元） | | | 对外担保金额占上市公司最近一 | 12.90 | | 期经审计净资产的比例（%） | | 证券代码：605300 证券简称：佳禾食品 公告编号：2025-065 佳禾食品工业股份有限公司 关于为控股子公司提供担保的进展公告 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： 担保对象及基本情况 担 保 对 象一 被担保人名称 上海蓝蛙国际贸易有限公司 本次担保金额 3,000 万元 实际为其提供的担保余额 7,000 万元 是否在前期预计额度内 是 □否 □不适用：_________ 本次担保是否有反担保 □是 否 □不适用：_________ 担 保 对 象二 被担保人名称 海南蓝蛙国际供应链有限公司 本次担保金额 4,000 万元 实际为其提供的担保余额 7,000 万元 是否在前期预计额度内 是 □ 否 □ 不 适 用 ： ______ ...

Overview - The demand for powdered fats, specifically plant-based creamers, is rapidly increasing in China due to the growth of downstream markets such as milk tea, coffee, and baked goods [1][11] - However, there is a notable decline in demand projected for 2024, with consumption expected to drop to 705,300 tons and market size to 7.406 billion yuan, driven by rising health consciousness among consumers [1][11] - High-end categories such as cold-soluble creamers, zero trans-fat products, and functional creamers are anticipated to become the main growth engines in the industry [1][11] Market Policy - The plant-based creamer industry is classified under the manufacturing sector, specifically in food manufacturing, and is subject to strict regulations to ensure food safety and quality [4][6] - Recent policies have focused on enhancing food safety supervision and promoting high-quality development within the industry [4][6] Industry Chain - The upstream of the plant-based creamer industry includes suppliers of raw materials like edible vegetable oils, glucose syrup, and milk powder, as well as suppliers of emulsifiers and stabilizers [7] - The midstream involves the production and manufacturing of creamers, while the downstream encompasses application markets including milk tea, coffee, and baked goods [7] Market Demand - Milk tea is the largest consumer market for plant-based creamers in China, accounting for over 50% of the market share [9] - The rapid growth of the ready-to-drink milk tea market has led to increased demand for creamers, which provide a smooth texture and rich flavor [9] - As health awareness rises, there is a shift towards low-sugar and low-fat options, prompting manufacturers to innovate and develop healthier products [9][11] Competitive Landscape - The market concentration has increased, with leading companies like Jiahe Food, Nestlé, and Super Group dominating the market [13][15] - Jiahe Food holds the largest market share, with its Jinghua brand being a well-known name in the plant-based creamer sector [13][16] - Nestlé leverages its international brand influence and extensive distribution channels to maintain a significant presence in the market [13][15] Development Trends - Future demand for low-sugar and low-fat plant-based creamers is expected to rise, leading companies to innovate and introduce products that meet these health requirements [20] - The integration of "Internet + plant-based creamers" is becoming a trend, with companies focusing on digital marketing and channel development to enhance consumer interaction [20] - The use of big data and artificial intelligence is anticipated to optimize production processes, improving efficiency and product quality [20]

证券代码：605300 证券简称：佳禾食品 公告编号：2025-064 备案日期：2025 年 7 月 31 日 关于参与投资私募投资基金的进展公告 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。 一、参与投资私募投资基金概述 为了更好地利用资本市场，实现公司战略发展，佳禾食品工业股份有限公司 （以下简称"公司"）的全资子公司蔻歌食品（上海）有限公司（以下简称"蔻 歌食品"）于 2025 年 7 月 16 日与北京方圆金鼎投资管理有限公司签订了《共青 城金螭创业投资合伙企业（有限合伙）合伙协议》《共青城金螭创业投资合伙企 业（有限合伙）合伙协议之补充协议》，参与投资共青城金螭创业投资合伙企业 （有限合伙）（以下简称"共青城金螭基金""标的基金"或"合伙企业"）。蔻 歌食品作为合伙企业的有限合伙人之一，认缴出资人民币 700 万元，占认缴出资 总额的 12.94%。具体内容详见公司于 2025 年 7 月 17 日在上海证券交易所网站 （www.sse.com.cn）披露的《佳禾食品工业股份有限公司关于参与投资私募投资 基金的公 ...

上市企业：佳禾食品（605300） 相关企业：雀巢（中国）有限公司、星巴克企业管理（中国）有限公司、臻饮贸易（上海）有限公司、 味之素（中国）有限公司、悠诗诗上岛咖啡（上海）有限公司、海南春光食品有限公司、德宏后谷咖啡 有限公司、长沙三顿半咖啡有限公司、海南力神投资集团股份有限公司、云南肆只猫咖啡有限公司、佳 禾食品工业股份有限公司、保山比顿咖啡有限公司、保山中咖食品有限公司、上海永璞文化创意有限公 司、山东上星咖啡有限公司、苏州金猫咖啡有限公司、杭州羽嬉贸易有限公司、云南农垦咖啡有限公 司、树本食品（大连）有限公司 关键词：速溶咖啡市场政策、速溶咖啡产业链、速溶咖啡市场规模、速溶咖啡竞争格局、速溶咖啡发展 趋势 一、概述 速溶咖啡是一种通过将咖啡豆烘焙、研磨、萃取后，经脱水（如喷雾干燥、冷冻干燥等工艺）制成的可 溶性粉末状或颗粒状咖啡制品。其核心特点是无需复杂冲泡设备，只需加入热水搅拌即可快速溶解饮 用，便捷性是其与现磨咖啡的主要区别。按生产工艺、原料成分及风味特点不同，速溶咖啡可以分为速 溶黑咖啡、N合一速溶咖啡、风味速溶咖啡、精品速溶咖啡等类型， 内容概要：随着我国经济的不断发展，人们生活节奏加快，工作 ...

Industry Investment Rating - The investment rating for the food and beverage industry is "Outperform the Market" and is maintained [1] Core Insights - The report highlights that the liquor sector has faced challenges due to the implementation of the "Regulations on Strict Economy and Opposition to Waste" by the central government, leading to a decline in revenue and profits for most liquor companies in Q2 2025. However, recent media corrections have stabilized the sector, and a gradual recovery is expected [3][20] - The report emphasizes the importance of individual stock opportunities within the consumer goods sector, particularly in the context of the liquor market's recovery and the introduction of innovative products [4][21] Summary by Sections Industry Overview - The closing index for the food and beverage sector is 17226.07, with a 52-week high of 19809.29 [1] - The sector has shown a relative performance decline compared to the CSI 300 index, with a year-on-year retail sales growth of 4.8% in June 2025 [14] Liquor Sector Analysis - The report notes that major liquor companies like Moutai, Wuliangye, and Luzhou Laojiao have varying price-to-earnings ratios, indicating a mixed valuation landscape [20] - The introduction of new products, such as the "Jiu Gui Free Love" by Jiu Gui Jiu and its collaboration with the retail channel "Pang Dong Lai," is expected to drive sales and innovate marketing strategies [5][18] Fund Holdings and Market Sentiment - As of Q2 2025, the food and beverage sector's fund holding ratio is 6.75%, reflecting a decrease of 2.12 percentage points, indicating cautious sentiment among investors [4][20] - The liquor segment's fund holding ratio is 4.98%, also down by 2.42 percentage points, suggesting a trend of risk aversion in the market [20] Company Performance Highlights - Dongpeng Beverage reported stable revenue growth, with significant increases in electrolyte water and fruit tea segments [22] - The report mentions that companies like Youfei Foods and Guoquan are focusing on channel optimization and product innovation to drive growth [23] - The performance of companies such as Zhou Hei Ya and Jiahe Foods is noted, with both showing signs of recovery despite facing challenges [23] Market Trends and Price Movements - The food and beverage sector index increased by 0.68% in the latest week, ranking 13th among 30 sectors, while the dynamic PE ratio stands at 21.26 [24] - The report highlights that soft drinks and dairy products have shown the highest growth rates among sub-sectors [24]

证券代码：605300 证券简称：佳禾食品 公告编号：2025-063 佳禾食品工业股份有限公司 关于使用部分暂时闲置募集资金进行现金管理的进展公告 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： 现金管理产品名称及期限：【CSDVY202510150】结构性存款产品（88 天）、【CSDVY202510151】结构性存款产品（90 天） 履行的审议程序：本事项已分别经佳禾食品工业股份有限公司（以下简 称"公司"）第三届董事会第四次会议、第三届监事会第三次会议及 2024 年年 度股东大会审议通过。具体内容见公司 2025 年 4 月 26 日披露于上海证券交易所 网站（www.sse.com.cn）的《佳禾食品工业股份有限公司关于使用部分闲置募集 资金进行现金管理的公告》（公告编号：2025-030）。 特别风险提示：尽管本次公司进行现金管理购买的理财产品为低风险、 流动性好的产品，属于低风险投资品种，但金融市场受宏观经济、财政及货币政 策的影响较大，不排除该项投资可能受到市场波动的影响，理财收益具有不确定 ...

出品：新浪财经上市公司研究院 作者：浪头饮食/ 郝显 7月16日，佳禾食品发布了参与投资私募投资基金的公告，宣布全资子公司蔻歌食品拟参与投资共青城 金螭基金，以自有资金认缴出资700万元，占认缴出资总额的12.94%。 共青城金螭基金成立于2025年5月30日，初始募集规模为5410万元，主要对大消费领域的标的公司进行 投资。 在披露参与投资的公告发布之前，佳禾发布了2025年半年度业绩预告，上半年实现归母净利润1055.53 万元到1582.97万元，同比下降 77.21%到 84.80%。扣非净利润236.82万元到355.15万元，同比下降 94.24%到 96.16%。继2024年业绩大幅下滑之后，佳禾食品依然没有止跌。 "0植脂末"运动重挫佳禾食品 其次，茶饮行业从价格战正在转向产品本身，产品结构的改变也导致植脂末需求减少。最后，一些头部 品牌在自建产能，导致外部需求减少。据媒体报道，下游大客户蜜雪冰城正在自建10万吨植脂末生产 线，这同样会减少对佳禾食品的采购。 咖啡能否成第二增长曲线？ 近几年佳禾食品一直在扩产能，2021年上市时，佳禾食品募资4.5亿元，主要投向年产十二万吨植脂末 生产基地建设 ...

Investment Rating - The report maintains a recommendation for the industry, indicating a positive outlook for the sector as a whole [5]. Core Insights - The actual demand in the liquor industry has significantly decreased in Q2 2025, with companies like Water Well and Jiu Gui Jiu showing early indicators of industry performance through their earnings forecasts [1][18]. - Moutai's establishment of a joint venture and Jiu Gui Jiu's collaboration with Pang Dong Lai for product launches reflect the multi-faceted strategies employed by major liquor companies to mitigate industry pressures and enhance annual performance [1][18]. - The beverage sector is expected to see leading water companies continue to capture market share, with Farmer Spring's market share rapidly recovering, leading to potential upward revisions in profit forecasts [1][18]. - The snack sector is facing short-term challenges due to rising costs and increased expenses, with a focus on new product launches and net profit margin improvements in the second half of the year [1][18]. - The pet sector presents a buying opportunity following recent corrections, with a focus on valuation shifts in the second half of the year [1][18]. Summary by Sections Core Company Tracking - Moutai is forming platform companies with provincial distributors to develop local cultural Moutai products, which is expected to stabilize pricing and support annual targets while alleviating pressure on the main product's volume growth [12]. - Water Well reported a 13% decline in revenue and a 57% drop in net profit for H1 2025, with significant Q2 revenue declines attributed to inventory reduction pressures and policy impacts [13]. - Jiu Gui Jiu's net profit for H1 2025 is expected to drop by 90%-93%, with a 43% revenue decline, as the company increases sales expenses and new product promotion efforts [14]. - Hai Tian Wei Ye anticipates rapid overseas growth and is enhancing its market share through localized strategies and channel expansion [15]. - Qia Qia Food's net profit is projected to decrease by 71%-76% in H1 2025, with expectations for improvement in H2 as costs normalize [16]. - Gan Yuan Food's net profit is expected to decline by 55%-56% in H1 2025, with plans to strengthen sales of new and core products in H2 [17]. Investment Recommendations - The report suggests focusing on liquor companies that are adjusting their strategies in response to market pressures, particularly those with a safety margin in valuations [18][19]. - In the beverage sector, companies like Farmer Spring and Uni-President China are expected to perform well, while traditional consumer stocks like Moutai and Lu Zhou Lao Jiao are recommended for their recovery potential [19]. - The report highlights opportunities in the snack sector with companies like Qia Qia and Gan Yuan, emphasizing the importance of new product launches and margin improvements [19].