贾国龙道歉了，西贝的一众招牌菜都打算门店现制了，预制菜看起来是完败了，但在A股却涨嗨了，赢麻了。 大涨的个股中，也有西贝供应商的身影。比如提供黄米凉糕、蒙古奶酪饼的千味央厨，供应猪肉全品类产品的龙大美食。 | ( W | 预制菜指数(8841441) | | | | --- | --- | --- | --- | | | 1070.24 18.02 1.71% | | | | 六米彩 | 成分 | 资讯 | 相关基金 | | 名称 | | 现价 | 涨跌前 -- | | 得利斯 | | 5.45 | 10.10% | | 002330.SZ | | | | | 龙大美食 | | 6.13 | 5.69% | | 002726.SZ | | | | | 惠发食品 | | 11.40 | 5.56% | | 603536.SH | | | | | 国联水产 | | 3.97 | 5.03% | | 300094.SZ | | | | | 味知香 | | 28.50 | 4.93% | | 605089.SH | | | | | 千味央厨 | | 34.92 | 3.96% | | 001215.SZ | | | ...

罗永浩、西贝事件，再度引发消费者对于"预制菜"行业的关注。 2025年9月15日，不少预制菜相关上市公司股票大涨。得利斯（002330.SZ）一字涨停，惠发食品（603536.SH）、 龙大美食（002726.SZ）一度涨停，国联水产（300094.SZ）盘中曾经冲高上涨12.43%，最终收涨5.03%，味知香 （605089.SH）收涨4.93%。 南都N视频记者注意到，近年来，预制菜相关法规、标准开始落地，行业逐步进入规范化发展路径。不过，由于 存在门槛较低、鱼龙混杂，下游餐饮企业"以预充鲜"等问题，大众消费者对于预制菜的感官认知差异巨大，想要 成功从预制菜市场"分羹"，并不容易。 规范化之路开启一年半 2024年3月，市场监管总局及教育部、工业和信息化部、农业农村部、商务部以及国家卫生健康委共同发布《关于 加强预制菜食品安全监管促进产业高质量发展的通知》（下称"《通知》"），对预制菜的标准给出了清晰、具 体、明确定义，预制菜规范化发展之路正式开启。 《通知》表示，预制菜也称预制菜肴，是以一种或多种食用农产品及其制品为原料，使用或不使用调味料等辅 料，不添加防腐剂，经工业化预加工（如搅拌、腌制、滚揉、成型 ...

食品加工制造板块震荡走高，得利斯涨停，盖世食品涨超10%，海欣食品、益客食品、西麦食品、千味 央厨、三全食品跟涨。 ...

Market Overview - The Shanghai Composite Index is at 3757.36 points, with a decline of 1.47% and total A-share trading volume of 20349.66 billion yuan [1] - As of now, 73 A-shares have surpassed their annual line, with notable stocks showing significant deviation rates [1] Notable Stocks - Stocks with the highest deviation rates include: - Aibulu (301259) with a deviation rate of 8.09% and a price increase of 10.22% [1] - Gongxiao Daji (000564) with a deviation rate of 8.06% and a price increase of 8.56% [1] - Shenglong Co. (603178) with a deviation rate of 6.11% and a price increase of 10.02% [1] - Other stocks with lower deviation rates that have just crossed the annual line include: - Weiguang Biological, Changjiang Electric Power, and Yunnan Tourism [1] Deviation Rate Rankings - The top stocks by deviation rate on September 4 include: - Aibulu (301259): Latest price 47.35 yuan, annual line 43.81 yuan [1] - Gongxiao Daji (000564): Latest price 2.79 yuan, annual line 2.58 yuan [1] - Shenglong Co. (603178): Latest price 20.54 yuan, annual line 19.36 yuan [1] - Additional stocks with notable performance include: - Wufangzhai (603237) with a deviation rate of 4.78% [1] - Yuanzhu Co. (603886) with a deviation rate of 3.50% [1]

Core Viewpoint - The pre-prepared food industry in China, also known as semi-finished or ready-to-eat meals, is characterized by a diverse range of participants, including specialized manufacturers, agricultural enterprises, and restaurant chains, with significant revenue generation and varying growth rates across companies [3][6]. Industry Overview - The pre-prepared food industry in China includes upstream sectors such as agriculture and food processing, midstream processing companies like Yike Food and Anjuke Food, and downstream distribution channels including e-commerce [1]. - Major players in the industry include Shuanghui Development, Guangming Meat, Yike Food, and Anjuke Food, with annual revenues exceeding 10 billion yuan [3][6]. Company Performance - Shuanghui Development leads the market with a revenue of 595.61 million yuan and a market capitalization nearing 100 billion yuan as of April 22, 2025 [4][6]. - Anjuke Food reported a revenue of 110.77 million yuan with a growth rate of 7.84%, while other companies like Longda Meishi and Guolian Aquatic faced revenue declines of 20.70% and 24.14%, respectively [4][6]. - In the first half of 2024, Anjuke Food's frozen prepared food segment achieved a 13.04% year-on-year growth, contrasting with the overall industry trend of declining revenues [6][7]. Revenue Trends - The overall revenue growth for pre-prepared food companies is expected to be below 10% in 2024, with many companies experiencing revenue declines [3][6]. - The revenue from overseas operations is significant for companies like Sanquan Food, which reported 94.23 billion yuan in 2024, with overseas revenue accounting for 42.86% of total revenue [8]. Market Dynamics - The pre-prepared food industry is characterized by a diverse range of participants, including specialized manufacturers and cross-industry players, indicating a competitive landscape [3][6]. - The industry is facing challenges with revenue growth, as many companies reported negative growth rates in 2024, highlighting the need for strategic adjustments [4][6].

Group 1 - The food and beverage sector experienced a pullback on September 3, with the Food ETF (515710) opening high but declining, down 0.93% at the time of reporting [1][2] - Major stocks in the sector, including Dongpeng Beverage, Sanquan Food, and several liquor brands, saw significant declines, with Dongpeng Beverage dropping over 4% and Sanquan Food down over 2% [1][2] - The Food ETF has seen substantial net inflows recently, with over 70 million yuan in net subscriptions over the past five trading days and more than 130 million yuan over the last 20 days [2] Group 2 - A new consumption promotion policy was announced in Shaoxing, Zhejiang, which includes subsidies for dining events, potentially boosting demand in the food and beverage sector [3] - The current valuation of the food and beverage sector is considered low, with the Food ETF's underlying index PE ratio at 21.25, indicating a favorable time for investment [3] - Despite a weak performance in the liquor sector, some companies are actively adjusting their product channels, suggesting potential bottom-fishing opportunities [4] Group 3 - The liquor sector is viewed as having good investment value, with ongoing policy support reinforcing expectations for economic recovery, although there are still concerns about the pace of recovery [5] - The Food ETF (515710) tracks the China Securities Index for the food and beverage industry, with a significant portion of its holdings in high-end liquor stocks and other beverage segments [6]

Group 1: Automotive Industry Insights - The automotive industry is experiencing a significant shift towards intelligent driving technologies, with companies like HUAWEI and Horizon leading the way in advanced driver assistance systems [13][14]. - The penetration rate of L2 and above autonomous driving features in passenger vehicles reached 29.7% as of June 2025, reflecting a year-on-year increase of 13 percentage points [14]. - Investment recommendations include companies such as Xpeng Motors, Leap Motor, and Geely for complete vehicles, and suppliers like Suoteng Technology and Hesai Technology for components [15]. Group 2: Pharmaceutical Sector Developments - The pharmaceutical sector showed weaker performance compared to the overall market, with the biopharmaceutical segment rising only 1.05% [16]. - The World Lung Cancer Conference (WCLC) in September 2025 will showcase innovative research from Chinese pharmaceutical companies, highlighting the growing competitiveness of domestic products [16][17]. - Investment focus is recommended on companies presenting at major conferences like ESMO and WCLC, particularly those with promising clinical data [17]. Group 3: Mining and Metals Performance - Luoyang Molybdenum's net profit for H1 2025 increased by 60% to CNY 8.67 billion, driven by rising copper and cobalt prices alongside increased production [18][19]. - Zijin Mining reported a 54.41% year-on-year increase in net profit for H1 2025, attributed to a significant rise in gold production and prices [22][23]. - Cloud Aluminum's net profit for H1 2025 grew by 10%, with a strong performance in aluminum production and a proposed cash dividend of CNY 3.2 per share [20][21]. Group 4: Real Estate and Property Management - Poly Property's revenue for H1 2025 reached CNY 8.4 billion, with a net profit increase of 5%, indicating steady growth in property management services [31][32]. - Greentown China reported a significant decline in net profit by 89.7% for H1 2025, primarily due to uneven revenue recognition and asset impairment provisions [33][34]. - The company maintained a strong sales performance, with total sales area down only 10% compared to the industry average, reflecting resilience in a challenging market [34].

据证券之星公开数据整理，近期三全食品(002216)发布2025年中报。根据财报显示，三全食品净利润同 比下降5.98%。截至本报告期末，公司营业总收入35.68亿元，同比下降2.66%，归母净利润3.13亿元， 同比下降5.98%。按单季度数据看，第二季度营业总收入13.5亿元，同比下降4.39%，第二季度归母净利 润1.05亿元，同比上升1.23%。 本次财报公布的各项数据指标表现不尽如人意。其中，毛利率24.34%，同比减6.16%，净利率8.78%， 同比减3.37%，销售费用、管理费用、财务费用总计5.57亿元，三费占营收比15.62%，同比增3.56%，每 股净资产5.06元，同比增5.21%，每股经营性现金流-0.22元，同比减160.28%，每股收益0.36元，同比减 5.26% | 项目 | 2024年中报 | 2025年中报 | 同比增幅 | | --- | --- | --- | --- | | 营业总收入(元) | 36.65 Z | 35.68 Z | -2.66% | | 归母净利润（元） | 3.33 Z | 3.13 Z | -5.98% | | 扣非净利润(元) | 2.69 ...

事件：公司发布2025年半年报，25H1实现营收35.7亿元，同比-2.7%；实现归母净利润3.1亿元，同比-6%；实现扣非归母净利润2.2亿元，同比-16.6%。其中25Q2实现营收13.5亿元，同比 米面主业持续承压，直营电商表现亮眼。分产品看，25H1公司速冻米面产品实现收入30.9亿元，同比-1.5%；其中以汤圆、水饺及粽子为代表的传统米面制品实现收入20.6亿元，同比+0.2% 促销压力拖累毛利，Q2盈利能力承压。25H1公司毛利率为24.3%，同比-1.6pp；其中25Q2毛利率为22.7%，同比-2.1pp。毛利率承压或与公司为应对速冻行业竞争烈度提升增加促销力度所致 产品渠道齐发力，业绩改善值得期待。1)产品端公司将在维持传统米面平稳增长基础上，通过降费增效提升其利润贡献率；同时不断加大健康化与个性化新式米面推新力度，新品及次新品有望贡 盈利预测与投资建议。预计2025-2027年EPS分别为0.60元、0.63元、0.66元，对应动态PE分别为19倍、19倍、18倍，维持"持有"评级。 风险提示：餐饮端回暖不及预期风险，新品推广不及预期风险。 ...

证券研究报告 | 2025年08月27日 三全食品（002216.SZ） 中性 上半年收入同比减少 2.7%，组织与渠道改革持续推进 三全食品 2025 年上半年实现营业总收入 35.68 亿元，同比减少 2.66%； 实现归母净利润 3.13 亿元，同比减少 5.98%；实现扣非归母净利润 2.24 亿元，同比减少 16.61%；2025Q2 实现营业总收入 13.50 亿元，同比减 少 4.39%；实现归母净利润 1.05 亿元，同比增长 1.23%；实现扣非归母 净利润 0.60 亿元，同比减少 15.89%。 B、C 端销售承压，渠道仍然偏弱。2025 年上半年公司 C 端/B 端市场收入 29/6 亿元，同比-1.5%/-8.8%，公司传统米面/创新米面/速冻调制食品/冷藏及短 保产品收入同比+0.2%/-4.7%/-15.0%/+44.5%，经销/直营/直营电商收入同 比-3.2%/-5.4%/+14.1%。从渠道和产品表现来看，速冻食品行业终端需求整 体依然处于偏弱状态，且传统渠道面临一定压力。公司聚焦品质、健康与个 性化需求，升级差异化产品矩阵，拓展全渠道，推出烤肠、丸滑类产品推动 肉制品等业 ...