Financial Performance - The company expects a net loss attributable to shareholders of approximately 132 million RMB for 2025, compared to a loss of 44.36 million RMB in the same period last year[3]. - The net profit after deducting non-recurring gains and losses is projected to be a loss of 130 million RMB, compared to a loss of 43.27 million RMB in the previous year[3]. - The basic earnings per share is expected to be -1.22 RMB, down from -0.41 RMB per share in the same period last year[3]. Reasons for Performance Decline - The primary reason for the performance decline is the rising cost of whey protein and increasing competitive pressure in the sports nutrition sector[5]. Impairment and Future Plans - The company anticipates an impairment loss on intangible assets between 950 million to 1.5 billion RMB, subject to final audit[5]. - In 2026, the company plans to diversify its product portfolio and reduce reliance on whey protein, focusing on high-margin products in new protein, creatine, peptides, and collagen[6]. Investment and Operational Strategy - The company will increase investment in digital channels, with Amazon as a core growth engine, and optimize product offerings at Walmart[6]. - A dynamic budget monitoring mechanism will be established to control expenses and improve operational efficiency[6]. Audit and Investment Risks - The preliminary financial data has not been audited by an accounting firm and is subject to change[7]. - Investors are advised to pay attention to investment risks as the data is based on initial estimates and will be detailed in the 2025 annual report[7].

Market Overview - On January 30, the food processing sector declined by 0.68%, with *ST Chuntian leading the drop [1] - The Shanghai Composite Index closed at 4117.95, down 0.96%, while the Shenzhen Component Index closed at 14205.89, down 0.66% [1] Stock Performance - Notable gainers in the food processing sector included: - Baba Foods (605338) with a closing price of 31.30, up 3.16% [1] - Chunxue Foods (605567) at 11.75, up 2.00% [1] - Weizhi Xiang (6805609) at 29.88, up 1.81% [1] - Major decliners included: - *ST Chuntian (600381) at 3.51, down 4.88% [2] - Gaisi Foods (920826) at 13.54, down 3.63% [2] - Tangchen Beijian (300146) at 12.17, down 2.48% [2] Capital Flow - The food processing sector experienced a net outflow of 57.72 million yuan from institutional investors, while retail investors saw a net outflow of 46.55 million yuan [2] - Conversely, speculative funds recorded a net inflow of 104 million yuan [2] Individual Stock Capital Flow - Key stocks with significant capital flow include: - Huadong Shares (002840) with a net outflow of 9.89 million yuan from institutional investors [3] - Chunxue Foods (605567) saw a net inflow of 7.02 million yuan from institutional investors [3] - Qianwei Yangchu (001215) had a net inflow of 6.95 million yuan from speculative funds [3]

Group 1 - The food processing sector increased by 0.41% on January 22, with Jiaoda Onlly leading the gains [1] - The Shanghai Composite Index closed at 4122.58, up 0.14%, while the Shenzhen Component Index closed at 14327.05, up 0.5% [1] - Key stocks in the food processing sector showed various performance, with Jiaoda Onlly closing at 6.93, up 4.52%, and Hai Xin Food at 6.81, up 2.10% [1] Group 2 - The food processing sector experienced a net outflow of 28.83 million yuan from main funds, while retail investors saw a net inflow of 51.78 million yuan [2] - The trading volume and turnover for key stocks varied, with Jiaoda Onlly having a trading volume of 190,700 shares and a turnover of 131 million yuan [1][2] - The stock performance of several companies showed mixed results, with some stocks like ST Chuntian and Xianle Health declining by 1.39% and 1.27% respectively [2] Group 3 - Main fund inflows were observed in stocks like Jiaoda Onlly with a net inflow of 14.38 million yuan, while retail investors showed a net inflow of 11.80 million yuan [3] - Stocks such as Shuanghui Development and Jinzi Ham also saw significant main fund inflows of 11.39 million yuan and 10.64 million yuan respectively [3] - The overall sentiment in the food processing sector appears mixed, with some stocks attracting retail interest despite main fund outflows [3]

Group 1 - The core viewpoint of the article is that Xiwang Food has multiple procurement channels for corn germ, with third-party suppliers accounting for a significant portion of purchases, exceeding that of related parties [1] Group 2 - Xiwang Food confirmed that aside from related parties within the Xiwang Group, there are other procurement channels for corn germ [1] - The proportion of purchases from third-party suppliers has surpassed that from related parties in recent years [1]

Group 1 - The company acquired Canadian Kerr in 2016 at a premium of 900%, resulting in goodwill [2] - The goodwill related to the acquisition is expected to be fully amortized by 2024 [2] - As of the end of Q3 2025, the company's consolidated financial statements will show intangible assets amounting to 1.997 billion [2]

Group 1 - The company, Xiwang Food, confirmed that it has procurement channels for corn germ beyond its related party, Xiwang Group [2] - The procurement from third-party suppliers exceeds that from related parties [2]

Core Viewpoint - The Shanghai Municipal Market Supervision Administration conducted a supervision and sampling inspection of edible oils, fats, and their processed products, revealing that 2 out of 30 batches were non-compliant with packaging standards [2]. Group 1: Compliance Results - A total of 30 batches of edible oil products were inspected, with 2 batches found to be non-compliant [2]. - The inspection was based on GB 23350-2021 standards, focusing on packaging void ratio, number of packaging layers, and packaging costs [2]. Group 2: Compliant Products - Several compliant products were identified, including: - High Oleic Peanut Oil (750ml×2 bottles) from Lu Hua [2] - Organic Flaxseed Oil (110ml) from Grandpa's Farm [2] - Avocado Oil (110ml) from Grandpa's Farm [2] - Organic Walnut Oil (110ml) from Grandpa's Farm [2] - And many others, with various brands and specifications listed [2]. Group 3: Non-Compliant Products - The non-compliant products included: - Walnut Oil (500ml) from an unspecified brand, failing due to packaging void ratio [3] - Walnut Oil (500ml×2) from Golden Tree, also failing due to packaging void ratio [3].

Market Overview - The food processing sector increased by 0.28% on January 12, with Hai Xin Food leading the gains [1] - The Shanghai Composite Index closed at 4165.29, up by 1.09%, while the Shenzhen Component Index closed at 14366.91, up by 1.75% [1] Top Performers - Hai Xin Food (002702) closed at 7.62, up by 3.25% with a trading volume of 913,900 shares and a transaction value of 682 million [1] - Other notable gainers include: - Gai Shi Food (920826) at 14.45, up by 3.14% [1] - Kang Bi Te (920429) at 15.95, up by 3.04% [1] - Xi Wang Food (000639) at 3.42, up by 2.70% [1] - Hui Fa Food (603536) at 11.74, up by 2.18% [1] Underperformers - Qian Wei Yang Chu (001215) closed at 45.60, down by 3.33% with a trading volume of 62,200 shares and a transaction value of 286 million [2] - Other notable decliners include: - Ba Bi Food (605338) at 31.39, down by 2.52% [2] - Xian Le Health (300791) at 24.39, down by 1.45% [2] Capital Flow - The food processing sector experienced a net outflow of 131 million from institutional investors, while retail investors saw a net inflow of 111 million [2] - Notable capital flows include: - Anjiu Food (603345) had a net inflow of 62.62 million from institutional investors [3] - Gai Shi Food (920826) saw a net inflow of 24.97 million from institutional investors [3] - Tang Chen Bei Jian (300146) had a net inflow of 14.78 million from institutional investors [3]

Group 1 - The company emphasizes its commitment to addressing investor inquiries and acknowledges that stock price fluctuations are a normal occurrence [2] - The management team plans to focus more on operational aspects to deliver solid performance and return value to investors [2]

特别提示： 1、本次股东会未出现否决提案的情形。 2、本次股东会不涉及变更以往股东会已通过决议的情形。 登录新浪财经APP 搜索【信披】查看更多考评等级 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导性陈述或重大遗 漏。 一、会议召开和出席情况 1、会议召开情况 （1）会议召开时间 现场会议召开时间：2026年1月6日（星期二）14：30； 网络投票时间： 2026年1月6日，其中，通过深圳证券交易所交易系统进行网络投票的具体时间为： 2026年1月6日09:15至9:25，09:30至11:30和13:00至15:00；通过深圳证券交易所互联网系统投票的具体 时间为：2026年1月6日09:15至15:00期间任意时间。 （2）现场会议地点 山东省邹平市西王工业园办公楼二楼210会议室 （3）会议召开方式 现场投票和网络投票相结合的表决方式召开 （4）会议召集人 公司第十四届董事会 （5）现场会议主持人 董事长王辉先生 （6）本次会议的合法、法规性 本次会议的召集、召开与表决程序符合《公司法》、《上市公司股东会规则》、《深圳证券交易所股票 上市规则》及《公司章程》等法律、法规、 ...