Investment Rating - The report maintains an "Outperform the Market" rating for the food and beverage sector [4][5][73]. Core Views - The liquor sector is showing signs of bottoming out, with a focus on the mid-year performance of the sector. The overall sentiment is improving due to policy expectations aimed at boosting domestic demand, leading to a recovery in the liquor sector after significant declines [2][11][13]. - The beer and beverage segments are entering a peak season, with expectations for strong mid-year performance. Companies like Yanjing Beer and Zhujiang Beer are projected to achieve substantial profit growth due to cost reduction and efficiency improvements [14][15][20]. - The report emphasizes the importance of consumer engagement and market health for liquor companies, suggesting a shift towards internationalization and targeting younger demographics [2][11][13]. Summary by Sections Liquor Sector - The liquor index rose by 1.4% this week, with major brands like Kweichow Moutai and Wuliangye focusing on brand strength and service enhancement. The sector is expected to recover from low valuations, although demand pressures remain significant [2][11][13]. - Recommended stocks include Kweichow Moutai, Shanxi Fenjiu, and Luzhou Laojiao, which have demonstrated strong risk resilience [2][11][13]. Consumer Goods - The beer segment is expected to benefit from seasonal demand, with Yanjing Beer and Zhujiang Beer forecasting a 40% to 50% increase in net profit for the first half of 2025 [14][15]. - The snack sector is experiencing volatility, with a recommendation for companies with strong performance certainty, such as Wei Long and Yan Jin [16]. - In the condiment sector, leading companies are expected to show resilience, with a focus on policy developments that could enhance the restaurant industry's vitality [17]. Frozen Foods and Dairy - Frozen food companies are actively developing new products to cater to both B2B and B2C markets, with a focus on convenience and smaller packaging [18]. - The dairy sector is anticipated to see a gradual recovery in demand, supported by favorable policies and improved supply dynamics [19]. Beverages - The beverage industry is entering a peak season, with leading companies like Dongpeng Beverage expected to continue expanding their market presence [20].

郑州千味央厨食品股份有限公司 关于股份回购进展情况的公告 本公司及其董事会全体成员保证信息披露内容的真实、准确和完整，没 有虚假记载、误导性陈述或重大遗漏。 郑州千味央厨食品股份有限公司（以下简称"公司"）分别于 2025 年 4 月 25 日、2025 年 5 月 20 日召开第三届董事会第十九次会议和 2024 年年度股东会， 审议通过了《关于第二期以集中竞价交易方式回购公司股份方案的议案》，同意 公司使用自有资金和自筹资金（含银行股票回购专项贷款等）通过集中竞价交易 方式回购公司已发行的部分人民币普通股（A 股），用于股权激励或员工持股计 划。本次回购资金总额不低于人民币 4,000 万元（含）且不超过人民币 6,000 万 元（含），回购价格不超过人民币 43.21 元/股。回购股份的期限为自公司股东会 审议通过本回购方案之日起 12 个月内。具体内容详见公司 2025 年 4 月 26 日和 2025 年 5 月 24 日在巨潮资讯网（http://www.cninfo.com.cn）及《证券时报》《上 海证券报》上披露的《关于第二期以集中竞价交易方式回购股份方案暨取得金融 机构股票回购专项贷款的公 ...

Group 1 - The core viewpoint of the article highlights the structure and distribution of the prepared food industry in China, emphasizing the production methods and key players involved in the supply chain [1][2]. - The prepared food production in China is categorized into two main types: self-produced and self-sold, and commissioned processing [1]. - Key participants in the prepared food supply chain include upstream raw material suppliers, initial processing companies, and downstream consumer outlets such as large retail chains and emerging e-commerce platforms [2][6]. Group 2 - The regional distribution of prepared food companies is primarily concentrated in Shandong, Henan, Jiangsu, and Anhui provinces, with Shandong having the highest number of companies at 2,959, accounting for 21.2% of the national total [6][8]. - The prepared food industry is notably concentrated in the East and Central China regions, benefiting from developed agriculture and advantageous transportation networks [6][8]. - As of April 2025, there are three major prepared food industrial parks in China, with two located in Shandong province, indicating a significant regional focus on this industry [11][13].

证券代码：001215 证券简称： 千味央厨 公告编号：2025-052 郑州千味央厨食品股份有限公司（以下称"公司"）第三届董事会任期即将 届满，根据《中华人民共和国公司法》《深圳证券交易所股票上市规则》《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》及《公司章 程》等有关规定，公司于 2025 年 6 月 17 日召开了职工代表大会，经参会职工代 表审议，会议选举贾学明先生为公司第四届董事会职工董事（简历详见附件）。 贾学明先生将与公司2025年第一次临时股东会选举产生的4名非独立董事、 3 名独立董事共同组成公司第四届董事会，任期三年，自公司 2025 年第一次临 时股东会审议通过之日起生效。 贾学明先生具备与其行使职权相适应的任职条件，不存在《公司法》《公司 章程》中规定的不得担任董事的情形，亦不存在被中国证监会确定为市场禁入者 的情况。贾学明先生任职资格合法，聘任程序合规，其简历详见附件。 特此公告。 郑州千味央厨食品股份有限公司 郑州千味央厨食品股份有限公司 关于选举第四届董事会职工董事的公告 本公司及其董事会全体成员保证信息披露内容的真实、准确和完整，没 有虚假记载、误 ...

证券代码：001215 证券简称：千味央厨 公告编号：2025-054 郑州千味央厨食品股份有限公司 关于聘任公司高级管理人员、内部审计负责人及证券事务代表 的公告 本公司及其董事会全体成员保证信息披露内容的真实、准确和完整，没 有虚假记载、误导性陈述或重大遗漏。 郑州千味央厨食品股份有限公司（以下简称"公司"）于 2025 年 6 月 23 日 召开第四届董事会第一次会议，审议通过了《关于聘任公司高级管理人员、内部 审计负责人及证券事务代表的议案》，现将相关情况公告如下： 一、公司聘任高级管理人员情况 上述高级管理人员白瑞女士和王植宾先生的简历详见公司于 2025 年 6 月 7 日在《证券时报》《上海证券报》及巨潮资讯网（www.cninfo.com.cn）披露的《关 于董事会换届选举的公告》（公告编号：2025-047）；葛庆华先生、曹原春女士、 焦军军女士简历详见附件。上述高级管理人员任期与第四届董事会任期一致。 公司董事会秘书曹原春女士已取得深圳证券交易所董事会秘书资格证书，具 备履行上市公司董事会秘书职责所必需的工作经验和专业知识，其任职符合《中 华人民共和国公司法》《深圳证券交易所股票上市规则》 ...

河南文丰律师事务所 关于郑州千味央厨食品股份有限公司 2025 年第一次临时股东会的 法律意见书 致：郑州千味央厨食品股份有限公司 河南文丰律师事务所（下称"本所"）接受郑州千味央厨食品股份有限公司 （下称"公司"或"千味央厨"）的委托，指派本所律师出席了公司2025年第一 次临时股东会（下称"本次股东会"）。本所律师根据《中华人民共和国公司法》 （下称"《公司法》"）、《中华人民共和国证券法》（下称"《证券法》"）、 《上市公司股东会规则》（下称"《股东会规则》"）及《郑州千味央厨食品股 份有限公司章程》（下称"《公司章程》"）等有关规定，就公司本次股东会的 召集和召开程序、出席会议的人员资格和召集人的资格、会议的表决程序和表决 结果等有关事宜出具《河南文丰律师事务所关于郑州千味央厨食品股份有限公司 2025年第一次临时股东会的法律意见书》（下称"本法律意见书"）。 为出具本法律意见书，本所律师审查了公司本次股东会有关的文件和材料。 本所律师得到公司如下保证，即其已提供了本所为出具本法律意见书所必需的材 料，并无隐瞒记载、虚假陈述和重大遗漏之处，公司所提供的原始材料、副本、 复印件等材料均符合真实、准确、完 ...

证券代码：001215 证券简称： 千味央厨 公告编号：2025-051 郑州千味央厨食品股份有限公司 2025 年第一次临时股东会决议公告 本公司及其董事会全体成员保证信息披露内容的真实、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提案的情形。 2、本次股东会未涉及变更以往股东会已通过的决议。 一、会议召开和出席情况 3、会议召开方式：现场投票与网络投票相结合的方式。 4、会议召集人：公司董事会。 5、会议主持人：公司董事长孙剑先生。 6、本次会议的召集、召开和表决程序符合《中华人民共和国公司法》（以 下简称"《公司法》"）等法律法规、规范性文件和《郑州千味央厨食品股份有 限公司章程》（以下简称"《公司章程》"）等规定。 7、会议出席情况 （1）总体出席情况 通过现场和网络投票的股东 89 人，代表股份 42,521,167 股，占公司有表决 权股份总数的 43.7639％。 1、召开时间 （1）现场会议时间：2025 年 6 月 23 日（星期一）下午 14:30。 （2）网络投票时间：通过深圳证券交易所交易系统投票的时间为：2025 年 6 月 23 日 9: ...

证券代码：001215 证券简称：千味央厨 公告编号：2025-053 郑州千味央厨食品股份有限公司 第四届董事会第一次会议决议公告 本公司及其董事会全体成员保证信息披露内容的真实、准确和完整，没 有虚假记载、误导性陈述或重大遗漏。 一、董事会会议召开情况 本次董事会会议的召开符合有关法律、行政法规、部门规章、规范性文件和 《公司章程》的规定。 郑州千味央厨食品股份有限公司（以下简称"公司"）于 2025 年 6 月 23 日 召开的 2025 年第一次临时股东会选举产生了第四届董事会成员，为保证公司经 营管理活动的持续有效开展，经全体新任董事一致同意，豁免本次董事会会议提 前通知的时限规定，于 2025 年 6 月 23 日召开第四届董事会第一次会议。 根据《公司章程》的规定，经全体董事一致同意推举董事孙剑先生召集并主 持公司第四届董事会第一次会议。本次会议以现场结合通讯的形式召开，会议应 出席董事 8 人，实际出席 8 人。 1、《关于选举第四届董事会董事长的议案》 根据《中华人民共和国公司法》（以下简称"《公司法》"）、《公司章程》等法 律法规，董事会同意选举孙剑先生为公司第四届董事会董事长，任期与第四 ...

Industry Policies Summary - The pre-prepared food industry in China has shown significant potential, especially during the COVID-19 pandemic, leading to rapid development and increased government focus on management and guidance [1][2] - Key areas of government focus include food safety regulation, industrial park planning, cold chain facility construction, and enhancing consumer consumption and innovation [2][5] National Level Policy Overview - The Chinese government has issued various policies to support and regulate the pre-prepared food industry, addressing food safety management, production base construction, and cold chain logistics [5][10] - Policies from multiple departments, including the State Council and Ministry of Commerce, emphasize the importance of food safety and the establishment of standards for pre-prepared food [5][10] Key National Policies and Interpretations - Policies include strict food safety regulations, the establishment of a unified national standard for pre-prepared food production, and the promotion of technological innovation in the industry [11][12] - The government aims to enhance the quality and safety of pre-prepared food through improved supervision and the establishment of a comprehensive food safety management system [11][12] Local Level Policy Overview - Various provinces have implemented specific policies to promote the development of the pre-prepared food industry, focusing on building production bases, enhancing quality, and fostering innovation [13][15] - For example, Shandong aims to cultivate over ten leading enterprises with a market value of over 10 billion yuan by 2025, while Anhui targets a pre-prepared food industry scale exceeding 120 billion yuan [13][15] Future Development Goals - The government has set ambitious goals for the pre-prepared food industry, including the establishment of a robust cold chain logistics network and the promotion of high-quality development through technological advancements [8][10] - By 2025, the aim is to create a competitive and sustainable pre-prepared food industry that meets consumer demands and contributes to economic growth [8][10]

Overview - The demand for frozen buns in China is projected to reach 474,900 tons by 2024, with a market size of 11.872 billion yuan, and an average product price of approximately 25,000 yuan per ton. The increasing income levels and consumer preferences for convenient and high-quality frozen foods are expected to drive market expansion, particularly in urban areas [1][11]. Market Policy - Recent food safety regulations in China have become increasingly stringent, impacting various stages of the frozen bun supply chain, including raw material procurement, production, packaging, storage, and sales. These regulations aim to standardize market practices and protect consumer rights, promoting sustainable industry development in the long term [4]. Industry Chain - The frozen bun industry consists of upstream suppliers of raw materials (flour, meat, vegetables, etc.), midstream production processes, and downstream sales channels (supermarkets, convenience stores, e-commerce, and restaurants). Consumer preferences for convenience, taste, and health are driving innovation and product upgrades across the industry chain [7][9]. Competitive Landscape - The frozen bun market in China is highly competitive, with key players including Anjijia Food Group, Sanquan Food, Guangzhou Restaurant Group, and others. In 2024, Anjijia Food is expected to achieve total revenue of 15.13 billion yuan, followed by Sanquan Food with 6.632 billion yuan, and Babi Food with 1.671 billion yuan [13][16]. Development Trends - Future trends in the frozen bun market will focus on health-conscious products, including low-fat, low-sugar, and additive-free options. There will be an emphasis on diverse flavors and the incorporation of local specialties into frozen products, catering to the evolving tastes of consumers [21].