Market Overview - The A-share market saw a slight increase in the three major indices, with a focus on technology stocks, particularly in the consumer electronics, chip supply chain, and liquid cooling server sectors [1] - The total market turnover reached 2.14 trillion yuan, a decrease of 206.9 billion yuan compared to the previous day [4] Technology Sector - GPU leader Moer Thread's IPO on the Sci-Tech Innovation Board is scheduled for September 26, leading to a surge in related concept stocks [1] - Zhongke Shuguang (603019) hit the daily limit, closing at 117.51 yuan per share, with a total market value exceeding 170 billion yuan [1] - The chip supply chain remained active, with Demingli (001309) achieving a historical high with two consecutive limit-ups, and Haiguang Information rising nearly 11% to also reach a historical high [1] - SMIC's stock increased over 6%, with a latest market value of 1.03 trillion yuan and a trading volume close to 20 billion yuan, ranking first in A-shares [1] Liquid Cooling Server Concept - The liquid cooling server concept stocks experienced fluctuations but ultimately surged, with Industrial Fulian (601138) rising significantly and breaking the 70 yuan per share mark, reaching a historical high [3] Zodiac Concept Stocks - Stocks with "horse" in their names saw significant gains, with multiple stocks like Tianyi Ma (301178) and Demar Technology rising sharply [5] - The upcoming Year of the Horse in the lunar calendar has led to increased speculation in zodiac-themed stocks, following a historical trend of such stocks gaining traction in the fourth quarter [6][7] Precious Metals Sector - The gold sector saw a strong performance towards the end of the trading day, with stocks like Zhongjin Gold (600489) and Hunan Silver (002716) experiencing significant increases [4] Tourism and Hotel Sector - The tourism and hotel sector faced a downturn, with the tourism and hotel index declining, particularly for companies like Tianfu Cultural Tourism (000558) [8] - As the National Day and Mid-Autumn Festival approach, there is an increase in long-distance travel demand, with platforms reporting a notable rise in outbound travel intentions and flight bookings [10] Film and Entertainment Sector - The upcoming National Day holiday will see the release of over ten new films, indicating a trend towards sequels and IP-based productions, which may attract investor attention towards the film and cinema sector [11]

Group 1 - The core point of the news is that Xi'an Catering's stock price dropped by 5.04% to 10.37 CNY per share, with a trading volume of 485 million CNY and a turnover rate of 8.97%, resulting in a total market capitalization of 5.951 billion CNY [1] - Xi'an Catering Co., Ltd. is located in Xi'an, Shaanxi Province, and was established on December 31, 1996, with its listing date on April 30, 1997. The company's main business includes catering, hotels, entertainment shares, tourism services, infrastructure renovation, refrigeration equipment, culinary training, technical consulting, technical services, labor technical output, and sales of tobacco and food [1] - The revenue composition of Xi'an Catering is as follows: catering income accounts for 64.30%, other income 23.51%, supplementary income 5.60%, merchandise income 5.00%, and room income 1.59% [1] Group 2 - From the perspective of the top ten circulating shareholders of Xi'an Catering, it is noted that a fund under the Fortune Fund ranks among the top shareholders. The Fortune CSI Tourism Theme ETF (159766) increased its holdings by 115,900 shares in the second quarter, holding a total of 1.7963 million shares, which represents 0.35% of the circulating shares. The estimated floating loss today is approximately 988,000 CNY [2] - The Fortune CSI Tourism Theme ETF (159766) was established on July 15, 2021, with a latest scale of 2.955 billion CNY. Year-to-date returns are 7.55%, ranking 3656 out of 4222 in its category; the one-year return is 29.76%, ranking 3249 out of 3813; and since its inception, it has incurred a loss of 24.21% [2]

Group 1 - The hotel and catering sector increased by 2.4% on September 18, with Huazhen Hotel leading the gains [1] - The Shanghai Composite Index closed at 3831.66, down 1.15%, while the Shenzhen Component Index closed at 13075.66, down 1.06% [1] - Major stocks in the hotel and catering sector showed varied performance, with Huazhen Hotel rising by 6.19% to a closing price of 4.12 [1] Group 2 - The net inflow of main funds in the hotel and catering sector was 249 million yuan, while retail investors saw a net outflow of 258 million yuan [1] - Huazhen Hotel had a main fund net inflow of 77.08 million yuan, accounting for 12.78% of its total [2] - The overall trend showed that while main funds were entering the sector, retail investors were withdrawing, indicating a divergence in investment behavior [2]

Market Overview - The hotel and catering sector experienced a decline of 1.62% on September 17, with Junting Hotel leading the drop [1] - The Shanghai Composite Index closed at 3876.34, up 0.37%, while the Shenzhen Component Index closed at 13215.46, up 1.16% [1] Individual Stock Performance - Jinjiang Hotels closed at 24.26, with a slight increase of 0.33% and a trading volume of 234,600 shares, totaling a transaction value of 568 million yuan [1] - ST Yunwang closed at 1.92, down 0.52%, with a trading volume of 213,700 shares and a transaction value of 41.11 million yuan [1] - Shoulv Hotels closed at 15.04, down 1.64%, with a trading volume of 191,400 shares and a transaction value of 290 million yuan [1] - Tongqinglou closed at 20.35, down 2.40%, with a trading volume of 151,900 shares and a transaction value of 106 million yuan [1] - Jinling Hotel closed at 8.00, down 2.44%, with a trading volume of 211,600 shares and a transaction value of 171 million yuan [1] - Quanjude closed at 12.36, down 2.83%, with a trading volume of 146,000 shares and a transaction value of 182 million yuan [1] - Xi'an Catering closed at 10.32, down 3.01%, with a trading volume of 482,600 shares and a transaction value of 502 million yuan [1] - Huatian Hotel closed at 3.88, down 3.48%, with a trading volume of 624,300 shares and a transaction value of 245 million yuan [1] - Junlin Hotel closed at 25.36, down 5.30%, with a trading volume of 160,400 shares and a transaction value of 414 million yuan [1] Capital Flow Analysis - The hotel and catering sector saw a net outflow of 211 million yuan from main funds, while retail investors contributed a net inflow of 151 million yuan [1] - The detailed capital flow for individual stocks indicates that Jinjiang Hotels had a net inflow of 2.526 million yuan from main funds, while it faced a net outflow of 800,140 yuan from retail investors [2] - ST Yunwang experienced a net outflow of 2.608 million yuan from main funds, with a net inflow of 971,300 yuan from retail investors [2] - Tongqinglou had a net outflow of 4.278 million yuan from main funds, but a net inflow of 607,620 yuan from retail investors [2] - Jinling Hotel faced a significant net outflow of 20.608 million yuan from main funds, with a small net inflow of 218,210 yuan from retail investors [2] - Quanjude had a net outflow of 22.918 million yuan from main funds, while retail investors contributed a net inflow of 2.914 million yuan [2] - Shoulv Hotels saw a net outflow of 34.115 million yuan from main funds, with a net inflow of 1.640 million yuan from retail investors [2] - Xi'an Catering had a net outflow of 45.444 million yuan from main funds, but a net inflow of 4.596 million yuan from retail investors [2] - Junting Hotel experienced a net outflow of 69.421 million yuan from main funds, while retail investors contributed a net inflow of 4.838 million yuan [2]

Core Viewpoint - The pre-prepared food industry is facing significant challenges due to public scrutiny and declining performance among leading companies, despite the market's potential for growth and regulatory improvements [1][6][8]. Group 1: Market Performance - A-share pre-prepared food companies have experienced volatility, with some stocks rising and others falling in response to recent events [1]. - Major players like Weizhi Xiang and Delisi reported mixed financial results, with Weizhi Xiang's revenue increasing by 4.70% to 343 million yuan, but net profit declining by 24.46% [3]. - Anjixin's revenue grew by 0.80% to 7.604 billion yuan, but it faced a 15.79% drop in net profit, marking its first mid-year profit decline since listing [3]. - Guolian Aquatic Products reported a significant loss of 540 million yuan, with total revenue decreasing by 18.36% to 1.651 billion yuan [3]. Group 2: Industry Challenges - The pre-prepared food sector is under pressure from weak B-end consumption and intense market competition, leading to a decline in overall gross margins from 20.07% in 2018 to 13.79% in 2024 [4]. - Companies like Xianyin Food have struggled to turn a profit, reporting a 12.08% revenue decline and a net loss of 54.17 million yuan [4]. - The industry faces issues such as inconsistent standards and low consumer acceptance, highlighted by recent controversies and the formation of a "anti-prepared food alliance" among restaurants [4][5]. Group 3: Regulatory Developments - The government is increasingly focused on addressing the challenges faced by the pre-prepared food industry, with new regulations and standards being introduced [6][7]. - Guangdong province has implemented eight local standards for pre-prepared foods, and a national food safety standard is set to be released soon [7]. - Experts believe that recent controversies may ultimately benefit the industry's development by prompting necessary changes and improvements [7]. Group 4: Future Outlook - Despite current controversies, the direction for the pre-prepared food industry remains positive, with significant growth potential anticipated [8]. - The market size is projected to reach 674.9 billion yuan by 2030, with a compound annual growth rate (CAGR) exceeding 10% [7].

Market Overview - The hotel and catering sector increased by 0.62% on September 16, with Huazhong Hotel leading the gains [1] - The Shanghai Composite Index closed at 3861.87, up 0.04%, while the Shenzhen Component Index closed at 13063.97, up 0.45% [1] Individual Stock Performance - Huazhong Hotel (000428) closed at 4.02, up 4.42% with a trading volume of 812,400 shares and a turnover of 324 million yuan [1] - Xian Catering (000721) closed at 10.64, up 2.70% with a trading volume of 510,500 shares and a turnover of 532 million yuan [1] - ST Yunwang (002306) closed at 1.93, up 2.12% with a trading volume of 314,100 shares and a turnover of 60.41 million yuan [1] - Junting Hotel (301073) closed at 26.78, up 1.02% with a trading volume of 124,900 shares and a turnover of 335 million yuan [1] - Jinling Hotel (601007) closed at 8.20, up 0.74% with a trading volume of 202,500 shares and a turnover of 166 million yuan [1] - Shoulv Hotel (600258) closed at 15.29, up 0.20% with a trading volume of 237,100 shares and a turnover of 362 million yuan [1] - Quanjude (002186) closed at 12.72, down 0.08% with a trading volume of 154,700 shares and a turnover of 1.967 million yuan [1] - Jinjiang Hotel (600754) closed at 24.18, down 0.08% with a trading volume of 233,000 shares and a turnover of 562 million yuan [1] - Tongqinglou (605108) closed at 20.85, down 0.29% with a trading volume of 50,500 shares and a turnover of 10.5 million yuan [1] Capital Flow Analysis - The hotel and catering sector experienced a net outflow of 55.69 million yuan from institutional investors, while retail investors saw a net inflow of 53.57 million yuan [1] - The detailed capital flow for individual stocks indicates varying levels of institutional and retail investor activity [2] - Xian Catering had a net inflow of 19.72 million yuan from institutional investors, while retail investors had a net outflow of 9.43 million yuan [2] - ST Yunwang saw a net inflow of 6.99 million yuan from institutional investors, with retail investors also experiencing a net outflow [2] - Jinjiang Hotel had a net outflow of 3.82 million yuan from institutional investors, but retail investors had a net inflow of 7.56 million yuan [2] - Overall, the capital flow indicates a mixed sentiment among different types of investors within the hotel and catering sector [2]

Core Viewpoint - The recent events involving Luo Yonghao and Xibei have sparked renewed consumer interest in the "pre-prepared dishes" industry, leading to significant stock price increases for related listed companies on September 15, 2025 [1][10]. Industry Overview - The pre-prepared dishes industry is gradually entering a path of standardized development, with regulations and standards being established in recent years. However, challenges such as low entry barriers and varying consumer perceptions complicate market entry for new players [3][4]. - In March 2024, a joint notification from several government departments outlined clear definitions and standards for pre-prepared dishes, marking the beginning of a standardized development path for the industry [4]. Market Growth - According to iMedia Consulting, the market size of China's pre-prepared dishes reached 485 billion yuan in 2024, reflecting a year-on-year growth of 33.8%. The market is expected to grow to 749 billion yuan by 2026 due to technological advancements and supportive policies [5]. Competitive Landscape - Despite rapid market growth, the industry faces intense competition, characterized by low entry barriers, product homogeneity, and a crisis of consumer trust, leading to declining profits across many companies [6][9]. - Financial reports from various pre-prepared dish companies for the first half of 2025 indicate a general decline in net profits, with several companies reporting losses. For instance, Guolian Aquatic Products reported a loss of 550 million yuan [7][9]. Company Performance - Key financial metrics from several pre-prepared dish companies for the first half of 2025 include: - Longda Meishi: Revenue of 782 million yuan (-19.5% YoY), gross margin of 12.43% (+1.24% YoY) - Guolian Aquatic Products: Revenue of 1.65 billion yuan (-18.36% YoY), net loss of 550 million yuan - Huifa Food: Revenue of 734 million yuan (-17.75% YoY), net loss of 31 million yuan - Aixin Food: Revenue of 7.604 billion yuan (+0.8% YoY), gross margin of 20.52% (-3.39% YoY) [7][9]. Consumer Insights - Consumers express a desire for transparency and choice regarding pre-prepared dishes, indicating that they are not opposed to the concept but seek better information about the products [10].

Market Overview - The hotel and catering sector increased by 1.7% on September 15, with Jinjiang Hotels leading the gains [1] - The Shanghai Composite Index closed at 3860.5, down 0.26%, while the Shenzhen Component Index closed at 13005.77, up 0.63% [1] Stock Performance - Jinjiang Hotels (600754) closed at 24.20, up 4.18% with a trading volume of 320,400 shares and a transaction value of 766 million [1] - Quanjude (002186) closed at 12.73, up 1.68% with a trading volume of 178,400 shares and a transaction value of 226 million [1] - Huazhong Hotel (000428) closed at 3.85, up 1.58% with a trading volume of 324,500 shares and a transaction value of 123 million [1] - Other notable performances include Jining Hotel (601007) up 0.87%, and Xian Catering (000721) up 0.78% [1] Capital Flow - The hotel and catering sector saw a net inflow of 64.27 million from institutional investors, while retail investors experienced a net outflow of 97.65 million [1] - Jinjiang Hotels had a significant net inflow of 93.03 million from institutional investors, representing 12.14% of its total trading volume [2] - Quanjude and Huazhong Hotel also saw net inflows from institutional and speculative investors, although retail investors withdrew funds [2]

Group 1 - The core point of the article is that Xi'an Catering (SZ 000721) held its 16th meeting of the 10th board of directors on September 12, 2025, to review proposals including the revision of the "Board Meeting Rules" [1] - For the first half of 2025, the revenue composition of Xi'an Catering was as follows: 70.89% from catering, 20.75% from manufacturing, 5.6% from other businesses, and 2.76% from other services [1] - As of the time of reporting, the market capitalization of Xi'an Catering was 5.9 billion yuan [1]

第二条 本办法适用于公司及所属子公司（以下简称"子公司"）。所属子公司 是指公司直接或间接持股比例50%以上的绝对控股子公司和公司拥有实际控制权的相 对控股子公司。 第三条 公司关联交易应当遵循以下基本原则： （一）诚实信用原则； （五）公司董事会应当根据客观标准判断该关联交易是否对公司有利，必要时可 聘请会计师事务所、资产评估事务所或独立财务顾问发表或提供意见和报告。 西安饮食股份有限公司 关联交易管理办法 （2025年9月修订） 第一章 总则 第一条 为规范西安饮食股份有限公司（以下简称"公司"）的关联交易行为， 保证公司与各关联人之间关联交易的合法性、合理性、公允性，保障股东和公司的合 法权益，特别是中小投资者的合法权益，根据《中华人民共和国公司法》（以下简称 《公司法》）、《深圳证券交易所股票上市规则》（以下简称《股票上市规则》）、 《深圳证券交易所上市公司自律监管指引第1号——主板上市公司规范运作》《深圳 证券交易所上市公司自律监管指引第7号——交易与关联交易》等法律法规、规范性 文件以及《西安饮食股份有限公司章程》（以下简称《公司章程》）的有关规定，制 定本办法。 第二章 关联人及关联交易 第四条 ...