Report Industry Investment Rating - The report does not explicitly mention the industry investment rating [1][2] Core Viewpoints of the Report - The government has increased its emphasis on boosting consumption and expanding domestic demand, with multiple policies coordinated to promote the construction of the domestic economic cycle and the domestic demand system [2][7][8] - It is expected that the year-on-year pork price will gradually turn positive in the second half of 2026, which will support the CPI, especially the food CPI [2][14][20] - The CSI All-China Food Index selects leading companies in the food industry, with high price elasticity, strong offensive ability, and long - term stable excess return potential. Currently, the valuation of the food sector has bottomed out, and the medium - to - long - term allocation cost - effectiveness is prominent [2][22][50] - The Huaxia CSI All - China Food ETF closely tracks the CSI All - China Food Index, aiming to minimize tracking deviation and tracking error [2][52] Summary According to the Directory 1. Policy Emphasizes Expanding Domestic Demand and Boosting Consumption, Focus on Investment Opportunities in the Food Sector - **Policy Attention Increased: Boosting Consumption and Expanding Domestic Demand** - Multiple policies are coordinated to promote the domestic economic cycle and the construction of the domestic demand system. Since December, authoritative media and high - level authorities have continuously emphasized the importance of domestic demand and the significance of boosting consumption [2][7][8] - The "Qiushi" magazine pointed out that expanding domestic demand is a strategic move related to economic stability and security. The Central Financial and Economic Affairs Office stated that expanding domestic demand is the top priority for next year, and the National Development and Reform Commission emphasized the firm implementation of the strategy to expand domestic demand [2][9][13] - **Expected Gradual Recovery of Pork Prices, Focus on Food CPI Changes in 2026** - Since the second half of 2022, the CPI has been continuously declining and has been hovering at a low level since 2025, suppressing the contribution of prices to the profits of mass consumer goods [2][14] - Although the CPI was at a low level in 2025, the demand for dairy products showed signs of stabilization. The retail prices of milk and yogurt ended a three - year decline in the second half of 2025 [17][19] - Due to the structural surplus of production capacity and low breeding costs, the year - on - year decline in pork prices has widened since the second half of 2025. It is expected that the year - on - year pork price will gradually turn positive in the second half of next year, supporting the CPI, especially the food CPI [20][21] 2. CSI All - China Food Index - **Index Compilation: Selecting Leading Food Industry Companies** - The CSI All - China Food Index was released on July 15, 2013. It selects all listed company securities belonging to the tertiary "Food" industry from the CSI All - China sample space, aiming to comprehensively reflect the overall performance of A - share food industry listed company securities [22][25][26] - The index samples are adjusted semi - annually, with a single sample weight limit of 10% [26] - **Industry Market Value Characteristics: Industry Concentrated in the Primary Consumption Sector, with a Market Value Pattern Dominated by Leading Companies** - As of December 18, 2025, the index has 79 constituent stocks, with an average total market value of 1.6575 billion yuan. There are 3 stocks with a market value exceeding 10 billion yuan, and more than half of the constituent stocks have a total market value of less than 1 billion yuan [27][30][33] - The top ten constituent stocks have a total weight of 50.4%, and the top three weighted stocks are Inner Mongolia Yili Industrial Group Co., Ltd., Haitian Flavoring & Food Co., Ltd., and Shuanghui Development Co., Ltd., with weights of 10.52%, 9.05%, and 6.05% respectively [30][31][33] - The index is concentrated in the food sub - industries, especially in the seasoning fermentation products II, food processing, and beverage dairy sectors, with a combined proportion of over 64%, highly focusing on the food field directly facing consumers [33][34][39] - **High Index Volatility and Strong Offensive Ability** - Historically, the index has shown a clear offensive ability, especially in the market driven by the consumption sector, with long - term stable excess return potential. It also has significant high elasticity, with higher volatility and drawdown than the market broad - based index [40][42][45] - In the long run, the index has shown stable income growth ability, with a cumulative return and annualized return of 256.10% and 8.87% respectively, exceeding the performance of the CSI 300 Index and the CSI All - China Index during the same period, reflecting the long - term allocation value of the core assets in the consumption industry [42][43] - **The Valuation of the Food Sector has Bottomed Out, and the Medium - to - Long - Term Allocation Cost - Effectiveness is Prominent** - As of December 18, 2025, the price - to - earnings ratio of the index is 31.52, with a historical quantile of 22.26%, and the price - to - book ratio is 2.85, with a historical quantile of 5.32% [50][51][52] - The index has experienced an adjustment since the high in late 2020, and recently shows signs of stabilization, with limited downside risk [50] 3. Huaxia CSI All - China Food ETF - The Huaxia CSI All - China Food ETF (fund code: 159151) closely tracks the CSI All - China Food Index, aiming to minimize tracking deviation and tracking error. The fund started raising funds on December 22, 2025, and ended on December 26, 2025, with fund manager Wang Xinwei [2][52][55]

双汇发展是农业产业化国家重点龙头企业，拥有覆盖全产业链的30个现代化肉类加工基地和200多万个 销售终端。华强方特是国内领先的文化科技集团，具备强大的文旅内容创作与运营能力。此次携手，是 两大国民品牌发挥各自领域资源优势的战略选择。 仪式现场，陈祖尧在致辞中表示，华强方特凭借文化+科技的创新模式，已在全国二十余座城市建成40 余座文旅景区，游客接待量连续两年位居全球第二，《熊出没》IP更是驰名海内外。双汇是中国肉类行 业领军者，以卓越品质守护消费者"舌尖上的安全与美味"。此次签约标志着双方为期三年的深度合作正 式启动，2026年元旦起，双汇优质产品将率先入驻全国方特文旅景区，通过整合双方客流与供应链优 势，全面升级游客餐饮体验。 李凯在发言中强调，双汇秉持"把美味带到千家万户"的品牌理念，与深耕文旅、创造欢乐的方特拥有高 度重合的核心用户——中国家庭。此次合作是"场景同频"的握手、"价值共振"的升级，更是"行业共 荣"的探索。未来双方将实现双汇产品在方特文旅景区的全覆盖，打造主题形象店、联合开发"熊出 没"定制款美食，还将成立"文旅景区美食创新实验室"推出健康新品，让美味与欢乐实现同频共振。 12月24日，双 ...

Core Insights - The strategic partnership between Shuanghui Development and Huaqiang Fantawild marks a significant collaboration between two leading national brands in the meat industry and cultural tourism sectors [1][3] - The collaboration aims to enhance the dining experience for visitors at Fantawild's theme parks by integrating Shuanghui's quality products into their offerings starting from January 1, 2026 [3][5] Group 1: Partnership Details - The signing ceremony took place at the headquarters of Huaqiang Fantawild, attended by key executives from both companies, including Shuanghui's Chairman Wan Hongwei and Fantawild's Chairman Liu Daoqiang [3] - The partnership is set to last for three years, focusing on the integration of both companies' customer bases and supply chain advantages to upgrade visitor dining experiences [3][5] Group 2: Strategic Goals - Shuanghui aims to leverage its brand philosophy of bringing delicious food to households, aligning with Fantawild's focus on creating joyful experiences for families [3][5] - Future initiatives include the establishment of themed stores, co-development of customized food products based on the popular "Boonie Bears" IP, and the creation of a "Culinary Innovation Laboratory" to introduce healthy new products [3][5] Group 3: Industry Impact - Shuanghui Development is recognized as a key player in the agricultural industry with a comprehensive supply chain, while Huaqiang Fantawild is a leading cultural technology group with extensive experience in creating and operating cultural tourism attractions [5] - The collaboration is expected to set a new standard for cross-industry cooperation, combining offline experiences with online marketing strategies to create a new consumer symbol [5]

Group 1 - The poultry concept sector declined by 0.40%, ranking among the top declines in concept sectors, with major declines seen in companies like Roniu Mountain, Yisheng Shares, and Yike Foods [1] - Among the poultry concept stocks, only two companies saw price increases, with Jingji Zhino rising by 4.49% and Tangrenshen by 0.23% [1] - The top gainers in other concept sectors included Terahertz with a rise of 4.02% and Commercial Aerospace with 3.60% [1] Group 2 - The poultry concept sector experienced a net outflow of 209 million yuan, with 17 stocks seeing net outflows, and 8 stocks exceeding 10 million yuan in outflows [1] - Roniu Mountain had the highest net outflow of 95.06 million yuan, followed by Wens Shares and Tianma Technology with outflows of 33.15 million yuan and 12.76 million yuan, respectively [1] - The top net inflows were seen in Jingji Zhino, Tangrenshen, and Shuanghui Development, with net inflows of 9.19 million yuan, 3.65 million yuan, and 2.42 million yuan, respectively [2]

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、准确和完整，没有虚假记载、误导性陈述或重大遗 漏。 河南双汇投资发展股份有限公司（以下简称公司）于2025年12月15日召开2025年第一次临时股东会，审 议通过了《关于修订〈公司章程〉的议案》，根据修订后的《河南双汇投资发展股份有限公司章程》 （以下简称《公司章程》）规定，公司董事会由十名董事组成，董事会成员中应当有一名公司职工代 表，董事会中的职工代表由公司职工通过职工代表大会、职工大会或者其他形式民主选举产生，无需提 交股东会审议。 胡育红女士，1969年出生，大专学历，中共党员，审计师，注册会计师。曾任本公司监事，现任本公司 审计中心主任、职工代表董事，亦担任本公司若干附属公司或联营公司监事，兼任漯河汇盛生物科技有 限公司、漯河双汇物流投资有限公司及其子公司监事。 截至目前，胡育红女士未在持有公司5%以上股份的股东、实际控制人等单位工作，未持有公司股票， 与公司其他董事和高级管理人员不存在关联关系，且不存在以下情形：（1）《公司法》等法律法规及 其他有关规定不得担任董事、高级管理人员的情形；（2）被中国证监 ...

北京商报讯(记者陶凤王悦彤)12月22日，双汇发展（000895）发布公告，公司于2025年12月20日召开职 工代表大会，选举胡育红为职工代表董事，与公司第九届董事会任期一致。公告显示，胡育红，曾任公 司监事，现任公司审计中心主任、职工代表董事，亦担任公司若干附属公司或联营公司监事。 ...

（企业公告） 12月22日，双汇发展发布公告称，公司于2025年12月20日召开职工代表大会，会议选举胡育红为公司第 九届董事会职工代表董事，胡育红与经公司股东会选举决定的九名董事共同组成公司第九届董事会，任 期与公司第九届董事会任期一致。此前，胡育红已作出书面承诺，同意接受提名，承诺其符合任职资 格，其向公司提供的相关资料真实、准确、完整，并保证当选公司董事后将切实履行职责。 胡育红当选公司董事后，公司第九届董事会中兼任公司高级管理人员以及由职工代表担任的董事人数总 计不超过公司董事总数的二分之一，符合相关法律法规及《公司章程》的规定。 ...

证券代码：000895 证券简称：双汇发展 公告编号：2025-37 河南双汇投资发展股份有限公司 关于选举产生第九届董事会职工代表董事的公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚 假记载、误导性陈述或重大遗漏。 河南双汇投资发展股份有限公司（以下简称公司）于 2025 年 12 月 15 日召 开 2025 年第一次临时股东会，审议通过了《关于修订<公司章程>的议案》，根 据修订后的《河南双汇投资发展股份有限公司章程》（以下简称《公司章程》） 规定，公司董事会由十名董事组成，董事会成员中应当有一名公司职工代表，董 事会中的职工代表由公司职工通过职工代表大会、职工大会或者其他形式民主选 举产生，无需提交股东会审议。 公司于 2025 年 12 月 20 日召开职工代表大会，会议选举胡育红女士为公司 第九届董事会职工代表董事，胡育红女士与经公司股东会选举决定的九名董事共 同组成公司第九届董事会，任期与公司第九届董事会任期一致，胡育红女士的简 历请见附件。此前，胡育红女士已作出书面承诺，同意接受提名，承诺其符合任 职资格，其向公司提供的相关资料真实、准确、完整，并保证当选公司董事后将 ...

Market Overview - The food processing sector increased by 0.15% on December 18, with Chunxue Food leading the gains [1] - The Shanghai Composite Index closed at 3876.37, up 0.16%, while the Shenzhen Component Index closed at 13053.98, down 1.29% [1] Individual Stock Performance - Chunxue Food (605567) closed at 10.96, up 2.81% with a trading volume of 55,100 shares and a transaction value of 60.24 million yuan [1] - Sanyuan Food (002216) closed at 11.65, up 2.46% with a trading volume of 101,400 shares and a transaction value of 118 million yuan [1] - Jiaoda Onl (600530) closed at 6.43, up 2.39% with a trading volume of 102,700 shares and a transaction value of 66.03 million yuan [1] - Xiwang Food (000639) closed at 3.29, up 2.17% with a trading volume of 846,100 shares and a transaction value of 278 million yuan [1] - Other notable performers include Babi Food (605338) at 28.48 (+2.08%), Xianle Health (300791) at 24.27 (+2.02%), and Zhihe Co. (603102) at 42.16 (+1.54%) [1] Capital Flow Analysis - The food processing sector experienced a net outflow of 210 million yuan from institutional investors, while retail investors saw a net inflow of 254 million yuan [2] - Notable stocks with significant capital flow include Haixin Food (002702) with a net outflow of 43.94 million yuan from institutional investors and a net inflow of 70.96 million yuan from retail investors [3] - Shuanghui Development (000895) had a net outflow of 35.49 million yuan from institutional investors but a net inflow of 33.17 million yuan from retail investors [3]

登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：000895 证券简称：双汇发展 公告编号：2025-36 河南双汇投资发展股份有限公司 2025年第一次临时股东会决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚假记载、误导性陈述或重大遗 漏。 特别提示： 1．本次股东会未出现否决议案的情形。 2．本次股东会不涉及变更前次股东会决议的情形。 一、会议召开情况 (一)会议召集人：董事会。 (二)会议召开方式：现场表决与网络投票相结合。 (三)会议召开地点：河南省漯河市牡丹江路288号双汇总部大楼一楼报告厅。 (五)网络投票时间：通过深圳证券交易所系统进行网络投票的具体时间为2025年12月15日9:15-9:25， 9:30-11:30，13:00-15:00；通过深圳证券交易所互联网投票系统投票的具体时间为2025年12月15日9:15 至15:00的任意时间。 (六)主持人：公司董事长万宏伟先生。 (七)会议的合法、合规性：会议的召集和召开符合《中华人民共和国公司法》《深圳证券交易所股票上 市规则》等有关法律、行政法规、部门规章、规范性文件及《河南双汇投资发展股份有限公 ...