截至10月31日，巴比食品股东户数1.20万，较上期减少2.87%；人均流通股19963股，较上期增加 2.96%。2025年1月-9月，巴比食品实现营业收入13.56亿元，同比增长12.05%；归母净利润2.01亿元，同 比增长3.51%。 分红方面，巴比食品A股上市后累计派现4.76亿元。近三年，累计派现3.72亿元。 责任编辑：小浪快报 资金流向方面，主力资金净流出72.10万元，大单买入772.98万元，占比12.95%，卖出845.08万元，占比 14.15%。 巴比食品今年以来股价涨76.87%，近5个交易日涨7.10%，近20日涨7.49%，近60日涨28.04%。 资料显示，中饮巴比食品股份有限公司位于上海市松江区车墩镇茸江路785号，成立日期2010年7月8 日，上市日期2020年10月12日，公司主营业务涉及中式面点速冻食品的研发、生产与销售。主营业务收 入构成为：食品类90.39%，包装物及辅料6.17%，服务类3.34%，其他(补充)0.10%。 巴比食品所属申万行业为：食品饮料-食品加工-预加工食品。所属概念板块包括：预制菜、宠物经济、 电子商务、养老金概念、小盘等。 12月19日， ...

Core Viewpoint - The recent focus on pre-prepared meals in China has prompted significant actions from both the government and restaurant brands to enhance transparency regarding food ingredients and preparation processes [1][4]. Group 1: Company Initiatives - Chain restaurant brand Tai Er has launched a full menu transparency classification system, categorizing dishes based on the freshness of ingredients [1]. - Tai Er's transparent menu divides dishes into four categories, with A class representing the freshest ingredients, including live fish and fresh vegetables, while B, C, and D classes indicate varying levels of processing [3]. - Fast food brand Lao Xiang Ji has implemented a similar system with a "three-color label" to indicate the processing level of dishes, enhancing consumer awareness [4]. Group 2: Industry Trends - The food industry analyst Zhu Danpeng emphasizes the need for a balance between taste and industrialization, as well as the importance of establishing national standards for pre-prepared meals [3]. - The State Council's Food Safety Office has recognized the growing public concern over pre-prepared meals and is working with various departments to expedite the formulation of national standards [4]. - The push for transparency in the restaurant industry is driven by consumer demand for fresh ingredients and visible processes, alongside regulatory pressures [4].

Investment Rating - The report maintains an "Outperform the Market" rating for the food and beverage sector [4][5][10]. Core Views - The food and beverage sector is expected to see a recovery in consumer scenarios, with a stable price expectation for Moutai [1][3]. - The sector is entering a left-side layout phase, with high-quality companies expected to gain greater growth potential [2][10]. - The report highlights the differentiation in the fundamentals of various categories, with beverages outperforming food and alcohol [2][10]. Summary by Relevant Sections 1. Sector Overview - The food and beverage sector experienced a cumulative decline of 1.52% this week, with A-shares down 1.63% and H-shares up 0.07% [1]. - The top five gainers in the food and beverage sector this week were Yanjinpuzi (5.11%), Huikaishan (4.85%), New Dairy (3.22%), Chenguang Biological (3.09%), and Anji Food (3.08%) [1]. 2. Alcohol Sector - In the liquor segment, the report recommends focusing on leading companies like Luzhou Laojiao, Shanxi Fenjiu, Guizhou Moutai, and Yingjia Gongjiu, while also monitoring the reform pace of Wuliangye and Yanghe [2][10]. - The report notes that the current market is in a left-side layout phase, with positive signals expected from both demand and supply sides [10]. 3. Beverage Sector - The beverage industry is experiencing a sustained boom, with leading companies significantly outperforming the market [14]. - Recommendations include Nongfu Spring and Dongpeng Beverage, which are accelerating their national and platform expansion [14]. 4. Food Sector - The snack segment is advised to focus on strong alpha stocks, particularly in the konjac snack category, where leading companies like Weilong and Yanjinpuzi show strong competitive advantages [11][12]. - The restaurant supply chain is showing signs of stabilization, with recommendations for leading companies like Yihai International and Haitian Flavoring [12]. 5. Earnings Forecasts and Investment Ratings - Key companies such as Guizhou Moutai, Nongfu Spring, Wuliangye, Shanxi Fenjiu, and Luzhou Laojiao are rated as "Outperform the Market" with projected earnings per share (EPS) growth for 2025 and 2026 [4][10]. - The report provides detailed earnings forecasts for these companies, indicating a positive outlook for the sector [4][15].

Investment Rating - The report maintains an "Outperform the Market" rating for the food and beverage sector [4][5][10]. Core Views - The food and beverage sector is expected to see a recovery in consumer scenarios, with a stable price expectation for Moutai [1][3]. - The sector is entering a left-side layout phase, with high-quality companies expected to gain greater growth potential [2][10]. - The report highlights the differentiation in the fundamentals of various categories, with beverages outperforming food and alcohol [2][10]. Summary by Relevant Sections 1. Sector Overview - The food and beverage sector (A-shares and H-shares) experienced a cumulative decline of 1.52% this week, with A-shares down 1.63% and H-shares up 0.07% [1]. - The top five gainers in the food and beverage sector this week were Yanjinpuzi (5.11%), Kuaijishan (4.85%), New Dairy (3.22%), Chenguang Biological (3.09%), and Anji Food (3.08%) [1]. 2. Alcohol Sector - In the liquor segment, the report recommends focusing on leading companies like Luzhou Laojiao, Shanxi Fenjiu, Guizhou Moutai, and Yingjia Gongjiu, while also monitoring the reform pace of Wuliangye and Yanghe [2][10]. - The report notes that the current market is in a left-side layout phase, with positive signals expected from both demand and supply sides [10]. 3. Beverage Sector - The beverage industry is experiencing a sustained boom, with leading companies significantly outperforming the market [14]. - The report continues to recommend companies like Nongfu Spring and Dongpeng Beverage, which are accelerating their national and platform expansion [14]. 4. Food Sector - In the snack segment, the report emphasizes strong alpha stocks, particularly in the konjac snack category, with leading companies like Weilong and Yanjinpuzi showing strong competitive advantages [11][12]. - The restaurant supply chain is showing signs of stabilization, with recommendations for leading companies like Yihai International and Haitian Flavoring [12]. 5. Earnings Forecast and Investment Ratings - The report provides earnings forecasts for key companies, with Guizhou Moutai expected to have an EPS of 75.79 in 2026, and Luzhou Laojiao with an EPS of 8.04 in the same year [4]. - The average PE ratio for these companies is projected to be around 18.9 for Moutai and 16.0 for Luzhou Laojiao in 2026 [4].

Core Viewpoint - The popularity of "Mala Tang" (spicy hot pot) in Japan is rapidly increasing, particularly among women aged 10 to 40, with a significant rise in the number of specialized stores and sales figures expected to continue growing [2][10][12]. Group 1: Market Growth - The number of new Mala Tang stores in Japan is projected to increase by at least eight times by 2025 compared to three years ago [2][8]. - From January to September 2025, 93 new Mala Tang stores opened across Japan, a significant increase from just 11 in 2022 [8]. - The average monthly sales for Mala Tang stores rose from approximately 3.5 million yen in 2021 to about 16 million yen in 2025 [8]. Group 2: Consumer Demographics - Approximately 90% of the customers at Mala Tang stores are women aged between 10 and 40 [5][10]. - The store design caters to female customers, promoting a café-like atmosphere where women feel comfortable dining alone [5]. Group 3: Unique Selling Proposition - Mala Tang offers a customizable dining experience, allowing customers to choose from around 50 different ingredients, which enhances its appeal [5][8]. - The dish is characterized by a rich broth made from about 20 spices, along with a base of chicken and pork bones, aligning with Japanese taste preferences [5][10]. Group 4: Brand Expansion - "Qibao Mala Tang," a leading brand in Japan, has opened 48 stores since its inception in 2007, emphasizing the use of fresh ingredients and unique flavors [10]. - Chinese brands like "Zhang Liang Mala Tang" and "Yang Guo Fu Mala Tang" are also expanding their presence in Japan, particularly in areas with significant Chinese populations [10][12]. Group 5: Future Outlook - The trend of Mala Tang is expected to continue, with potential for it to become a staple in Japanese cuisine, although strategies to attract male customers may be necessary for sustained growth [12][13].

（编辑 任世碧） 证券日报网讯 12月11日晚间，巴比食品发布公告称，公司于2025年12月11日召开第三届董事会第十九 次会议，审议通过了《关于董事会换届选举提名第四届董事会非独立董事候选人的议案》《关于董事会 换届选举提名第四届董事会独立董事候选人的议案》，董事会同意提名刘会平先生、吴建国先生为公司 第四届董事会非独立董事候选人；提名毛健先生、万华林先生为公司第四届董事会独立董事候选人，其 中万华林先生为会计专业人士。 ...

Group 1 - The core point of the article is that Babi Food (SH 605338) held its 19th meeting of the third board of directors on December 11, 2025, to discuss the revision of the "Board Meeting Rules" [1] - For the year 2024, Babi Food's revenue composition is as follows: 90.38% from food products, 6.05% from packaging materials and auxiliary materials, 3.47% from franchise management, and 0.1% from other businesses [1] - As of the report date, Babi Food has a market capitalization of 6.3 billion yuan [1]

章程 二〇二五年十二月 中饮巴比食品股份有限公司 | 第一章 | 总则 | 1 | | --- | --- | --- | | 第二章 | 经营宗旨和范围 | 2 | | 第三章 | 股份 | 3 | | 第四章 | 股东和股东会 | 7 | | 第五章 | 董事和董事会 | 26 | | 第六章 | 高级管理人员 | 42 | | 第七章 | 财务会计制度、利润分配和审计 | 44 | | 第八章 | 通知和公告 | 52 | | 第九章 | 合并、分立、增资、减资、解散和清算 | 53 | | 第十章 | 修改章程 | 57 | 第一章 总则 公司由上海中饮食品集团有限公司整体变更设立，在上海市市场监督 管 理 局 注 册 登 记 ， 取 得 营 业 执 照 ， 统 一 社 会 信 用 代 码 为 91310000558762442G。 英文名称：ZHONGYIN BABI FOOD CO.,LTD. 1 第一条 为维护中饮巴比食品股份有限公司(以下简称"公司")、股东、职工 和债权人的合法权益，规范公司的组织和行为，根据《中华人民共和 国公司法》(以下简称"《公司法》")、《中华人民共和国证券法》(以 ...

第三条 战略委员会成员由三名董事组成，并由董事长担任召集人。 第四条 战略委员会委员（以下简称"委员"）由董事长、二分之一以上独 立董事或者全体董事的三分之一提名，由董事会选举产生。 第五条 战略委员会设主任委员一名，由董事长担任。 第六条 战略委员会委员任期与同届董事会董事的任期一致，委员任期届 满，连选可以连任，期间如有委员不再担任公司董事职务，则其委 员资格自动失效。委员在任期届满前可向董事会提交书面的辞职申 请。委员在失去资格或获准辞职后，董事会应根据上述第三条至第 五条的有关规定补足委员会人数。 第七条 战略委员会下设工作小组，为委员会日常工作机构，为委员会日常 运作与合规履职提供保障和专业支持。工作小组根据实际工作需 要，由公司高级管理人员、董事会办公室、总经理办公室、财务管 理中心等相关部门人员组成。工作小组成员无需是委员会委员。工 作小组组长及其成员人选由委员会主任委员决定。 第二章 人员组成 1 第一条 为适应中饮巴比食品股份有限公司（以下简称"公司"）战略发展 需要，增强公司核心竞争力，确定公司发展规划，健全投资决策程 序，加强决策科学性，提高重大投资决策的效益和决策的质量，根 据《中华人 ...

1 中饮巴比食品股份有限公司 累积投票制实施细则 总则 投票程序 第五条 为确保董事当选符合规定，公司独立董事和非独立董事的选举应当 分别进行，均采用累积投票制选举。具体操作如下： 第七条 在公司股东会实行累积投票制时，董事的当选原则为： (一) 股东会选举产生的董事人数及结构应符合《公司章程》的规 定。董事候选人根据得票多少的顺序来决定是否当选，但每 位当选董事的得票数必须超过出席股东会股东所持有效表 决权股份总数（以未累积的股份数为准）的二分之一。 (二) 两名或两名以上候选人得票总数相同，且该得票总数在拟当 选人中最少，如其全部当选将导致当选人超过应选人数的， 该次股东会应就上述得票总数相同的董事候选人按规定程 序进行第二轮选举，第二轮选举仍未能决定当选者时，则应 在下次公司股东会另行选举。 (三) 若当选董事人数少于应选董事人数，且不足《公司法》规定 的法定最低人数或者少于《公司章程》规定的董事会成员人 数三分之二以上时，则应对未当选董事候选人进行第二轮选 举。若经第二轮选举仍未达到上述要求时，则应在本次股东 会结束后两个月内再次召开股东会对缺额董事进行选举。 第八条 股东表决完毕后，由股东会计票人员 ...