Group 1 - The core point of the article is that Nanjiao Food (605339.SH) reported a consolidated revenue of RMB 235 million for October 2025, representing a year-on-year decrease of 5.27% [1]

Core Viewpoint - Nanchao Food (605339) announced a projected consolidated revenue of 235 million yuan for October 2025, representing a year-on-year decrease of 5.27% [1] Company Summary - The company expects a consolidated revenue of 235 million yuan for October 2025 [1] - This figure indicates a decline of 5.27% compared to the same period last year [1]

Core Viewpoint - Nanchao Food (605339.SH) announced a consolidated operating revenue of RMB 235 million for October 2025, representing a year-on-year decrease of 5.27% [1] Group 1 - The company's consolidated operating revenue for October 2025 is RMB 235 million [1] - This revenue figure shows a decline of 5.27% compared to the same period last year [1]

Market Overview - The leisure food sector experienced a slight decline of 0.13% on November 6, with ST Juewei leading the drop [1] - The Shanghai Composite Index closed at 4007.76, up 0.97%, while the Shenzhen Component Index closed at 13452.42, up 1.73% [1] Individual Stock Performance - Notable gainers in the leisure food sector included: - Ganyuan Food (002991) with a closing price of 57.71, up 1.84% and a trading volume of 21,200 lots [1] - Ximai Food (002956) closed at 22.51, up 1.44% with a trading volume of 34,600 lots [1] - Wancheng Group (300972) closed at 179.46, up 1.10% with a trading volume of 12,600 lots [1] - Conversely, ST Juewei (603517) saw a decline of 1.52%, closing at 13.64 with a trading volume of 91,600 lots [2] - Other notable decliners included: - Yanjinpuzi (002847) down 1.38% to 71.33 [2] - Three Squirrels (300783) down 1.02% to 23.32 [2] Capital Flow Analysis - The leisure food sector saw a net outflow of 126 million yuan from institutional investors, while retail investors contributed a net inflow of 100 million yuan [2] - The overall capital flow for individual stocks showed mixed results, with Ganyuan Food experiencing a net inflow of over 3.89 million yuan from institutional investors [3] - Other stocks like Ziyan Food (603057) had a net inflow of 1.55 million yuan from institutional investors, while stocks like ST Juewei and Lihai Food (300973) faced significant net outflows [3]

Core Viewpoint - The article emphasizes the importance of ingredient innovation in the baking industry, showcasing the launch of two new products by Nanqiao: Aiyichun Pure Cream and Qiaobai Le Fermented Butter, which are set to redefine flavor profiles in baking [1][5][55]. Group 1: Product Launch and Demonstration - Nanqiao held a product launch event for Aiyichun Pure Cream and Qiaobai Le Fermented Butter, presenting them as not just products but as a new approach to flavor in baking [1][3]. - The event featured a live demonstration by renowned French pastry chef Maxime Martel, who showcased the performance of Aiyichun Pure Cream in creating a Black Forest cake, highlighting its smooth texture and fresh dairy aroma [5][12][8]. - Qiaobai Le Fermented Butter was demonstrated in making sourdough croissants, showcasing its complex flavor profile derived from a unique fermentation process involving four types of lactic acid bacteria [14][21][26]. Group 2: Ingredient Quality and Flavor - Aiyichun Pure Cream is made from 100% pure animal milk fat sourced from the North Latitude 38° golden milk source, ensuring a rich and clean taste that maintains its texture under various conditions [8][13]. - Qiaobai Le Fermented Butter offers a multi-layered flavor experience, combining creaminess, acidity, and caramel notes, which enhances the overall taste of baked goods [14][23][26]. - The article stresses that the quality of these ingredients allows for a more authentic flavor experience, moving away from artificial enhancements [53][55]. Group 3: Market Trends and Consumer Preferences - The launch reflects a broader trend in the baking industry where brands are shifting focus from aesthetics to authentic flavors, as consumers increasingly seek genuine taste experiences [53][55]. - The event also highlighted the growing demand for high-quality domestic dairy products in the Chinese market, indicating a shift towards local sourcing and production [57]. - The introduction of these innovative products is seen as a catalyst for the evolution of bakery menus, allowing for quicker adaptation to new flavor trends [50][55].

Core Points - The company has announced its third quarter financial report for 2025, ensuring the accuracy and completeness of the information disclosed [11][74]. - The company will hold an investor conference on November 11, 2025, to discuss the third quarter results and address investor questions [12][13]. Financial Data - The financial statements for the third quarter of 2025 have not been audited [3]. - The report includes major accounting data and financial indicators, but specific figures are not provided in the documents [3][4]. Corporate Governance - The company’s board of directors and supervisory board have confirmed the authenticity of the quarterly report and are responsible for its content [2][8]. - The independent director committee held a meeting on October 30, 2025, where they approved revisions to the independent director work system and the related party transaction management system, with unanimous support [8][9][36]. Shareholder Meeting - The company will hold its first extraordinary general meeting on December 1, 2025, with both on-site and online voting options available for shareholders [18][19]. - The meeting will discuss various proposals, including the cancellation of the supervisory board and amendments to the company’s articles of association [79][80]. Investor Relations - The company encourages investors to submit questions in advance for the upcoming investor conference, which will be held online [12][14]. - The conference aims to provide a platform for discussing the company’s operational performance and financial metrics for the third quarter [13][14].

Core Viewpoint - Nanqiao Food, established in 2010 and listed in 2021, is a leading company in the domestic baking oil sector, focusing on the research, production, and sales of baking oil products with a diverse and stable product range [1] Group 1: Business Performance - In Q3 2025, Nanqiao Food reported revenue of 2.268 billion yuan, ranking 4th in the industry, surpassing the industry average of 2.028 billion yuan but below the top competitors [2] - The main business composition includes baking oil at 701 million yuan (45.07%), dairy products at 346 million yuan (22.28%), and other products [2] - The net profit for the same period was 28.8213 million yuan, ranking 7th in the industry, below the industry average [2] Group 2: Financial Ratios - As of Q3 2025, the debt-to-asset ratio was 18.13%, lower than the previous year's 19.42% and significantly below the industry average of 35.61%, indicating strong solvency [3] - The gross profit margin was 19.01%, down from 24.47% year-on-year and below the industry average of 35.62%, suggesting a need for improvement in profitability [3] Group 3: Executive Compensation - The chairman, Chen Zhengwen, received a salary of 4.4 million yuan in 2024, an increase of 480,000 yuan from 2023 [4] - The general manager, Lin Changyu, had a salary of 2.02 million yuan in 2024, a decrease of 70,000 yuan from the previous year [4] Group 4: Shareholder Information - As of September 30, 2025, the number of A-share shareholders decreased by 10.83% to 12,600, while the average number of shares held per shareholder increased by 12.14% to 33,600 [5] Group 5: Market Outlook - According to Zheshang Securities, the company experienced a slight revenue decline in H1 2025, with pressures on performance due to high raw material costs and changing end-user demand [6] - The company reported significant growth in pre-made baked goods and fillings, with revenues of 223 million yuan and 11 million yuan respectively, showing year-on-year increases [6] - The company aims to expand its global market presence, particularly in Southeast Asia, and forecasts revenues of 2.898 billion, 3.074 billion, and 3.206 billion yuan for 2025-2027, with corresponding net profits [6]

证券代码：605339 证券简称：南侨食品 公告编号：临2025-066 南侨食品集团（上海）股份有限公司 关于召开2025年第一次临时股东会的通知 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。 (三) 投票方式：本次股东会所采用的表决方式是现场投票和网络投票相 结合的方式 (四) 现场会议召开的日期、时间和地点 召开的日期时间：2025 年 12 月 1 日 14 点 00 分 重要内容提示： 股东会召开日期：2025 年 12 月 1 日 本次股东会采用的网络投票系统：上海证券交易所股东大会网络投票系 统 一、 召开会议的基本情况 (一) 股东会类型和届次 2025年第一次临时股东会 (二) 股东会召集人：董事会 (七) 涉及公开征集股东投票权 无 二、 会议审议事项 召开地点：上海市金山区志伟路 808 号上海金山假日酒店 2 楼 A 厅会议室 (五) 网络投票的系统、起止日期和投票时间。 网络投票系统：上海证券交易所股东大会网络投票系统 网络投票起止时间：自2025 年 12 月 1 日 至2025 年 12 月 1 ...

证券代码：605339 证券简称：南侨食品 编号：临2025-064 南侨食品集团（上海）股份有限公司 第三届监事会第十六次会议决议公告 本公司监事会及全体监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个别及连带责任。 监事会认为：根据《公司法》《上市公司章程指引》等有关法律法规的规定， 结合公司实际情况，公司不再设置监事会和监事，《公司法》规定的监事会职权 由董事会审计委员会行使，有利于贯彻落实最新法律法规要求，进一步完善公司 法人治理结构，提升公司规范运作水平。监事会同意公司取消监事会及监事设置， 并修改《公司章程》。 表决结果：3票赞成，赞成票比例100%，0票反对，0票弃权。 南侨食品集团（上海）股份有限公司（以下简称"公司"）第三届监事会第 十六次会议通知于 2025 年 10 月 24 日以 E-mail 方式发出，于 2025 年 10 月 30 日以现场结合通讯表决的方式召开。本次会议应表决监事 3 名，实际表决 3 名。 会议由公司监事会主席汪时渭先生主持。本次会议的通知和召开程序符合《公司 法》和《公司章程》的有关规定。会议审议并通过 ...

证券代码：605339 证券简称：南侨食品 编号：临2025-062 南侨食品集团（上海）股份有限公司 第三届董事会独立董事专门委员会第五次会议 决议公告 本公司监事会及全体监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个别及连带责任。 南侨食品集团（上海）股份有限公司（以下简称"公司"）第三届董事会独 立董事专门委员会第五次会议通知于 2025 年 10 月 24 日以 E-mail 方式发出，于 2025 年 10 月 30 日以现场结合通讯表决的方式召开。本次会议应到独立董事 3 名，实到独立董事 3 名。会议由刘许友独立董事主持。本次会议的通知和召开程 序符合《公司法》和《公司章程》的有关规定。会议审议并通过议案、议题如下： 一、《关于修订<独立董事工作制度>的议案》 表决结果：3 票赞成，赞成票比例 100%，0 票反对，0 票弃权。 二、《关于修订<关联交易管理制度>的议案》 表决结果：3 票赞成，赞成票比例 100%，0 票反对，0 票弃权。 特此公告。 南侨食品集团（上海）股份有限公司 董事会独立董事专门委员会 2025 年 10 月 3 ...