Core Insights - A new trend in the A-share market is emerging where companies are offering "physical dividends" to shareholders, enhancing the shareholder experience beyond traditional cash dividends and stock price appreciation [3][4][10] Group 1: New Trends in Investor Relations - The A-share market is witnessing a transformation in investor relations management, shifting from cash dividends to product-based rewards for shareholders [3] - Companies like Emei Mountain A and Qianwei Yangchun are leading this trend, with Emei Mountain A offering free admission to shareholders holding over 500 shares, and Qianwei Yangchun providing product gift packages worth 200 yuan to shareholders holding over 100 shares [3][4] Group 2: Strategic Considerations Behind Physical Dividends - The trend of physical rewards is not merely about providing benefits; it represents an upgrade in investor relations management to brand experience marketing, creating a low-cost yet innovative approach [4][5] - For tourism companies, offering free admission and discounts can lead to significant secondary consumption, enhancing overall revenue [4][10] Group 3: Industry-Specific Approaches to Shareholder Engagement - Different industries are adopting unique strategies to engage shareholders: - In the tourism sector, Emei Mountain A offers comprehensive benefits including free tickets and discounts on various services [7][10] - In the food industry, Qianwei Yangchun provides product gift packages, while other companies like Wufangzhai and Zhongjing Foods also offer food gifts without strict holding requirements [7][8] Group 4: Case Study of Qianwei Yangchun - Qianwei Yangchun's shareholder reward strategy aligns with its broader market expansion goals, allowing shareholders to experience products directly and potentially become loyal customers [8][9] - The company is strategically timing its rewards to coincide with its efforts to penetrate the consumer market [8] Group 5: Emei Mountain A's Unique Offerings - Emei Mountain A's rewards program is designed to counteract a 7.9% decline in visitor numbers, showcasing an innovative approach to attract more visitors [10] - The program includes not just free admission but also discounts for family members, creating a holistic consumer experience [10] Group 6: Balancing Aspirations and Realities - While the trend of physical dividends is gaining traction, companies must ensure product quality and sustainability of these initiatives to avoid damaging their reputation [13][15] - Market reactions to these initiatives can lead to short-term stock price increases, but without solid performance fundamentals, there may be risks of price corrections [15]

（文章来源：证券日报） 证券日报网讯 12月4日，千味央厨在互动平台回答投资者提问时表示，截至2025年11月30日，公司股东 人数为9555户。 ...

霁月认为，真正的股东回报应该是：扎实的业绩增长、稳定的现金分红、持续的股价上涨。这些才是股 东的"硬通货"，而不是那些花里胡哨的小礼品。当然，偶尔送点福利增进感情也无可厚非，但如果把这 当成吸引投资者的主要手段，那就是舍本逐末了。（封面新闻记者 罗田怡 杨霁月 剪辑 何宏杰 ） 12月1日晚，千味央厨发布公告：持股100股以上的自然人股东可领取价值200元的预制菜礼包，法人股 东可领3份。这是继峨眉山A推出"持股500股免门票"活动后，又一家上市公司加入"实物分红"大军。 说实话，这些"花式送礼"挺有创意。峨眉山A公告当天直接涨停，说明市场对这种玩法还挺买账。但霁 月想问：这真的是股东想要的吗？送门票、送预制菜，看似贴心，实则是在用小恩小惠掩盖主业不振的 尴尬。股民买股票，要的是企业成长带来的资本增值，而不是这些"锦上添花"的小礼物。 ...

特别提示： 郑州千味央厨食品股份有限公司（以下简称"公司"）首次公开发行股票募 集资金投资项目"总部基地及研发中心建设项目"已达到预定可使用状态，为提 高募集资金使用效率，公司对该募集资金投资项目结项，并将节余资金 2,880,020.25 元（含利息等）全部转入自有资金账户，用于永久性补充流动资金。 证券代码：001215 证券简称：千味央厨 公告编号：2025-073 郑州千味央厨食品股份有限公司 关于首次公开发行股票募集资金专项账户销户的公告 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。 根据《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》等关于募集资金管理的规定，单个或者全部募集资金投资项目完成后，节 余资金（包括利息收入）低于五百万元或者低于项目募集资金净额 1%的，可以 豁免履行董事会审议及保荐机构发表同意意见等程序。 一、首次公开发行股票募集资金基本情况 经中国证券监督管理委员会《关于核准郑州千味央厨食品股份有限公司首次 公开发行股票的批复》（证监许可[2021]2669 号）核准，郑州千味央厨食品股份 有限公司首次 ...

Core Viewpoint - The company, Qianwei Yangchu (千味央厨), is conducting a shareholder reward activity from December 2 to December 16, offering gift packages valued at 200 yuan to shareholders holding 100 shares or more, which includes products like fried dough sticks and egg tarts [1][3][10] Group 1: Shareholder Reward Activity - The company announced a shareholder reward activity to express gratitude for long-term support, allowing individual shareholders to claim one gift package and institutional shareholders to claim three [1][5] - The total estimated value of the gift packages is approximately 1.9 million yuan, with a maximum of 9,409 packages to be distributed based on the number of shareholders [5][10] - This is the first time the company has conducted a product giveaway as a form of dividend since its listing, having previously issued cash dividends annually [9][10] Group 2: Financial Performance and Context - The company reported a net profit decline of 32.57% to 83.69 million yuan in 2024, with a revenue increase of 1.00% to 1.378 billion yuan in the first three quarters of the year [12] - Despite the increase in revenue, the net profit has been under pressure, and the company has not issued cash dividends this year, leading to speculation about the purpose of the product giveaway [10][12] - The company clarified that the products offered are fresh and comply with national quality standards, denying any intention to clear inventory through this giveaway [11][12]

A股公司"花样整活"似乎正成为潮流。12月1日，因宣布"只要持有公司股票超过500股，即可享受景区 门票免票"，峨眉山Ａ（000888）触及涨停。随后，千味央厨（001215）也连夜"抄作业"，发布股东回 馈活动，符合要求的股东即使仅持有100股，也可领取公司1份价值200元的产品礼包，法人股东可领取3 份。12月2日早上一开盘，千味央厨也应声高开，但随后回落。截至收盘，千味央厨报收37.23元，涨 1.22%；峨眉山同样冲高回落，报收14.46元，涨2.12%。 具体来看，在千味央厨发布的股东回馈活动公告中，将在12月2日8时至12月16日24时期间开展股东回馈 活动。本次活动面向在12月1日下午收市时持有公司股份100股（含）以上的股东，自然人股东可领取1 份价值200元的公司产品礼包，法人股东可领取3份。 不过相对来说，此前峨眉山回馈股东的力度显得更有诚意。11月28日晚间，峨眉山Ａ发布公告称，2025 年12月1日至2026年1月31日期间，持有"峨眉山A"股票500股及以上的个人股东（每次可携2名随行家 属）和法人股东代表（每家法人股东可指定5名代表）享受峨眉山景区进山门票免票回馈；个人股东的 随行 ...

旅游类公司为股东提供免门票、免索道费等优惠，食品类公司发放产品礼包，股东在享受实惠的同时， 也能更深入地了解公司的业务和产品特点，增强对公司的认同感和归属感。 从公司宣传的角度来看，这一举措具有显著的积极效果。上市公司的品牌宣传和产品推广对于公司的发 展至关重要，上市公司通过向股东提供产品回馈，能够借助股东的口碑传播，扩大品牌影响力。股东在 亲身使用产品后，若对产品满意，很可能会向身边的朋友推荐，形成一种低成本、高效率的宣传模式。 这种基于真实体验的宣传，比单纯的广告投放更具可信度和说服力，有助于提升上市公司产品的市场认 知度和美誉度，为公司带来更多的潜在客户。 同时，用产品回馈股东对于提升投资者信心也有着重要作用。在资本市场中，投资者信心是影响股价和 上市公司发展的重要因素。当公司通过实际行动向股东表达关怀和重视时，会让股东感受到公司的诚意 和责任感，从而增强对公司未来发展的信心。这种信心的提升不仅有助于稳定公司股价、减少股价的波 动，还能吸引更多的投资者关注和买入公司股票，为公司的发展提供更充足的资金支持。 峨眉山A近期公告称，最低持有500股公司股票的投资者就可以享受免景区门票等福利；千味央厨 （001 ...

Core Viewpoint - The recent trend of listed companies offering gifts to shareholders, such as pre-packaged food, is seen as a superficial gesture that may distract from the need for genuine performance improvement and shareholder value creation [1][2]. Group 1: Company Actions - Zhengzhou Qianwei Yangchun Food Co., Ltd. announced a shareholder reward program where shareholders holding over 100 shares can receive a gift package worth 200 yuan [1][3]. - This initiative follows similar actions by other companies, such as Emei Mountain A offering free tickets to shareholders [1]. Group 2: Market Reactions - The market response to these promotional activities has been positive, with Emei Mountain A's stock hitting the daily limit up on the announcement day, indicating investor interest in such strategies [1]. - However, there is skepticism among investors regarding the actual benefits of these gifts compared to substantial financial returns [2]. Group 3: Industry Concerns - The trend of companies focusing on gimmicks rather than core business performance raises concerns about the long-term implications for shareholder value [2]. - Analysts argue that true shareholder returns should come from solid earnings growth, stable cash dividends, and sustained stock price appreciation, rather than temporary promotional gifts [2].

消息发布后，股民们回应闹猛："千味央厨要起飞了""各类食品股都买点、过年过节都会送"。 据中国证券登记结算有限责任公司下发数据，截至2025年10月31日，公司股东人数为9289户。 据不完全统计，年内已有超30家上市公司发布股东回馈活动相关公告。从回馈方式来看，自有产品、优 惠券、专享折扣、文旅权益等多种福利层出不穷。 比如，峨眉山A于今年11月底宣布，持有公司500股及以上的个人股东及法人股东代表可享受峨眉山景 区进山门票免票回馈及免费乘坐万年索道回馈。与此同时，符合条件的股东及股东代表还可享受酒店住 宿专项优惠、免费温泉、免费滑板滑雪等多项福利。 本次活动时间为12月2日8时至12月16日24时。自然人股东须本人申请可领取1份公司产品礼包；法人股 东须指定一人申请可领取3份公司产品礼包。符合条件的股东可在活动期间扫描二维码，凭有效信息验 证股东身份参与活动，公司将赠予价值200元公司产品礼包作为回馈。千味央厨的官网显示，礼包主要 为公司速冻面米制品（如早餐面点、预制菜等）。 千味央厨表示，本次活动是公司践行股东回馈理念、建立多元化股东回报机制的切实举措。活动不会对 公司经营情况产生影响。 资料显示，千味 ...

炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 12月1日，因宣布"只要持有公司股票超过500股，即可享受景区门票免票"，峨眉山A（000888.SZ）触 及涨停，涨停价14.16元，涨幅9.87%，总市值74.51亿元。12月2日，峨眉山A延续昨日涨势，开盘报 14.53元每股，涨幅2.61%。 12月1日晚间，千味央厨（001215.SZ）也发布股东回馈活动相关公告，千味央厨将在12月2日8时至12月 16日24时期间开展股东回馈活动。本次活动面向在12月1日下午收市时持有公司股份100股（含）以上的 股东，自然人股东可领取1份价值200元的公司产品礼包，法人股东可领取3份。 12月2日早盘，千味央厨开盘报37.50元每股，截至10点股价报36.08元每股，跌1.90%。 据Choice数据，截至10月31日，千味央厨股东户数为9289户，户均持股数量约为1.04万股，户均持股金 额约为41.99万元。公司前十大股东合计持股比例为55.81%。 公开资料显示，千味央厨是国内知名的餐饮速冻面米制品供应商，主要为餐饮企业提供定制化、标准化 的预制半成品。客户主要涵盖全国性的品牌连锁餐 ...