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鹏华基金举办走进三全食品活动 多方共议粮食安全与ETF发展
Zheng Quan Ri Bao· 2025-05-07 12:41
一直以来,在"走进上市公司"各类活动中,鹏华基金不仅关注上市公司本身,更强调构建一个涵盖"交 易所、上市公司、基金公司、媒体、投资者"的"生态圈",通过多方视角的碰撞,形成对产业更立体的 认知。此次,多方联合共同走进三全食品,成为"生态圈"的又一新案例。食品产业作为民生之本,既是 保障国家粮食安全的重要环节,也是满足人民群众美好生活的关键领域。 事实上,在保障国家安全领域,鹏华基金持续布局国防和粮食产业,创新推出国防ETF和粮食ETF,构 建国家安全ETF系列。本次探访三全食品,正是其在深交所指导下,继去年探访登海种业之行后,再次 走进粮食ETF成份股企业,旨在近距离感受国家粮食安全下的食品消费行业新趋势,提高对投资的切身 感受,培育理性的投资文化。 近日,在深圳证券交易所指导下,鹏华基金举办的"深交所走进成份股公司暨鹏华基本面投资之美·三全 食品深度探访之旅活动"在郑州市举办。三全食品董事会秘书刘铮铮、鹏华基金品牌管理部总经理于凌 波、鹏华基金指数与量化投资部基金经理张羽翔等人参加活动。 此次走进的三全食品,是中国速冻食品行业首家上市公司,也是鹏华粮食ETF的成份股之一。活动中, 刘铮铮详细介绍了公司的发展 ...
鹏华基本面投资之美·三全食品深度探访之旅活动顺利举办,多方协同共建ETF生态圈
Xin Lang Ji Jin· 2025-05-07 05:55
在现场、面对面:触摸中国经济的真实脉动 "唯有深入企业一线,才能感知中国经济的真实脉动。"作为已经举办过超60场走进上市公司系列深度探 访的活动负责人,鹏华基金品牌管理部总经理于凌波有感而发。 此次走进的三全食品股份有限公司,是中国速冻食品行业首家上市公司,是中国生产速冻食品最早、规 模最大、市场网络最广的企业之一,也是鹏华粮食ETF的成分股之一。公司自成立以来,始终专注于食 品研发与生产创新,在保障食品安全、推动消费升级、服务民生需求方面发挥了重要作用。 活动中,三全食品董事会秘书刘铮铮详细介绍了公司的发展历程,并分享了以产品创新、渠道创新、技 术创新、管理创新为源头,以内生式增长和外延式增长双轮驱动的新型模式。以产品创新为例,一方面 在to C端,紧跟消费趋势变化,开发适合年轻消费者的茶饮、生椰拿铁等新口味汤圆,以及针对中老年 消费者的药食同源系列产品。一方面不断开拓To B市场,为各类餐饮提供安全、高品质的预制食材。 同时结合公司展厅及生产线参观,来访者们清晰地看到三全食品在保障食品安全、推动消费升级方面所 做出的不懈努力,也深刻感受到食品消费行业在国家粮食安全战略下的新趋势与新机遇。 鹏华基金秉持的" ...
三全食品(002216):短期经营承压 静待后续改善
Xin Lang Cai Jing· 2025-05-03 06:39
事件:公司发布2024年年报及 2025年一季报。2024年实现营收66.3亿元,同比-6%;实现归母净利润5.4 亿元,同比-27.6%;其中24Q4 实现营收15.1亿元,同比-8.1%,实现归母净利润1.5 亿元,同比-24.9%。 同时,公司拟每10 股派发现金红利3.00元(含税)。25Q1公司实现营收22.2亿元,同比-1.6%,实现归 母净利润2.1 亿元,同比-9.2%。 米面主业经营承压,餐饮市场增速稳健。分产品看,24年公司速冻面米产品实现收入56亿元,同比下降 4%;其中以汤圆、水饺等为代表的传统米面制品实现收入34.7 亿元,同比-5.8%,创新类米面制品实现 收入21.3亿元,同比-0.7%。受C 端消费需求疲软、商超渠道式微及行业竞争加剧等不利影响,速冻米 面主业延续承压态势。24 年速冻调制食品与冷藏短保类产品分别实现收入8.7/0.9 亿元,同 比-18.8%/-3.3%。分市场看,24年零售及创新市场实现营收51.9亿元,同比-6.9%;公司积极推进与大型 餐饮连锁客户的合作力度,餐饮市场全年实现收入14.5亿元,同比+1.1%。分渠道看,公司持续推进对 直营KA 渠道的减亏 ...
三全食品(002216):2024年年报及2025年一季报点评:业绩承压,期待后续盈利改善
EBSCN· 2025-04-30 06:15
2025 年 4 月 30 日 公司研究 业绩承压,期待后续盈利改善 ——三全食品(002216.SZ)2024 年年报及 2025 年一季报点评 要点 事件:三全食品发布 2024 年年报及 2025 年一季报,公司 2024 年实现总营收 66.32 亿元、同比减少 6%,归母净利润 5.42 亿元、同比减少 27.64%,扣非归 母净利润4.15亿元、同比减少35.8%。25Q1总营收22.18亿元、同比减少1.58%, 归母净利润 2.09 亿元、同比减少 9.22%,扣非归母净利润 1.64 亿元、同比减少 16.87%。公司拟每 10 股派发现金红利 3 元(含税)、分红率 48.64%。 24 年传统米面制品收入承压、25Q1 有所改善,大 B 端表现相对领先。1)分市 场 , 24 年零售及创新 / 餐饮市场营收分别为 51.19/14.45 亿元,同比 -8.10%/+1.06%,C 端零售市场表现较为疲软,B 端餐饮市场中小 B 端客户有所 承压、主要系老品竞争较为激烈,大 B 客户继续拓展、收入增速较为领先。分 产品看,24 年速冻米面制品/速冻调制食品营收分别为 55.99/8.73 ...
三全食品(002216) - 关于举行2024年度网上业绩说明会的公告
2025-04-29 09:25
证券代码:002216 证券简称:三全食品 公告编号:2025-023 三全食品股份有限公司 关于举行 2024 年度网上业绩说明会的公告 1、召开时间:2025年5月9日15:00-16:00 2、召开方式:本次说明会将采用网络远程文字交流的方式召开 3、出席人员:公司董事长陈南先生、财务总监李娜女士、独立董事黄继红女 士、董事会秘书刘铮铮先生。 4、投资者参与方式:投资者可登录深圳证券交易所"互动易"平台 (http://irm.cninfo.com.cn),进入"云访谈"栏目参与本次网上业绩说明会。 二、公开征集问题 为提升交流的针对性,以便公司在本次说明会上对投资者普遍关注的问题进 行作答,公司就2024年度业绩说明会提前向投资者征集相关问题,广泛听取投资者 的意见和建议。投资者可提前登录"互动易"平台,进入"业绩说明会提问预征集" 界面(http://irm.cninfo.com.cn/interview/collect/questionCollect),输入 公司股票代码后进行提问。公司将在2024年度网上业绩说明会上对投资者普遍关 注的问题进行回答。欢迎广大投资者积极参与。 特此公告。 三全食品 ...
三全食品(002216):2024年年报及2025年一季报点评:首次覆盖:延续承压,期待改善
首次覆盖:延续承压,期待改善 三全食品(002216) ——三全食品 2024 年年报及 2025 年一季报点评 本报告导读: 行业需求相对承压,同时竞争依然较大,导致公司业绩承压,公司在主要销售渠道 均有所侧重,期待后续经营改善。 投资要点: | [Table_Finance] 财务摘要(百万元) | 2023A | 2024A | 2025E | 2026E | 2027E | | --- | --- | --- | --- | --- | --- | | 营业收入 | 7,056 | 6,632 | 6,812 | 7,132 | 7,435 | | (+/-)% | -5.1% | -6.0% | 2.7% | 4.7% | 4.3% | | 净利润(归母) | 749 | 542 | 562 | 599 | 641 | | (+/-)% | -6.5% | -27.6% | 3.7% | 6.6% | 6.9% | | 每股净收益(元) | 0.85 | 0.62 | 0.64 | 0.68 | 0.73 | | 净资产收益率(%) | 17.3% | 12.3% | 12.0% | 12.0% | ...
三全食品(002216) - 关于部分股票期权注销完成的公告
2025-04-24 09:48
证券代码:002216 证券简称:三全食品 公告编号:2025-022 三全食品股份有限公司董事会 2025年4月25日 1 本公司及董事会全体成员保证信息披露的内容真实、准确、完整,没有虚假记载、误导性陈 述或重大遗漏。 三全食品股份有限公司(以下简称"三全食品"或"公司")于 2025 年 4 月 18 日 召开第八届董事会第十六次会议、第八届监事会第十五次会议,审议通过了《关于注销 部分股票期权的议案》。根据致同会计师事务所(特殊普通合伙)审计[致同审字(2025) 第 410A013898 号]《审计报告》,公司 2024 年的业绩考核未达到首次授予部分第三个 行权期和预留授予部分第二个行权期的行权条件。根据《上市公司股权激励管理办法》、 《三全食品股份有限公司 2021 年股票期权激励计划(草案修订稿)》的相关规定,公 司将对首次授予部分第三个行权期股票期权和预留授予部分第二个行权期股票期权合 计 475.945 万份予以注销(首次授予部分涉及注销 333.795 万份,预留授予部分涉及 注销 142.150 万份)。具体内容详见 2025 年 4 月 22 日披露的《关于注销部分股票期权 的公告》 ...
三全食品(002216):2024年收入同比减少6%,积极观察下游渠道变革
Guoxin Securities· 2025-04-23 05:36
Investment Rating - The investment rating for the company is Neutral [5][3][18] Core Views - The company is expected to see a 6% year-on-year decrease in revenue for 2024, with total revenue projected at 6.632 billion yuan and a net profit of 542 million yuan, reflecting a 27.64% decline [1][7] - The decline in revenue is primarily attributed to the performance of dumplings and hot pot ingredients, while the e-commerce channel continues to show high growth [1][11] - The company is actively observing changes in downstream channels and adapting its operational strategies accordingly, including partnerships with discount snack stores and enhancing e-commerce operations [2][16] Revenue and Profit Forecast - Revenue forecasts for 2025 and 2026 have been slightly adjusted downwards to 6.825 billion yuan and 7.255 billion yuan, respectively, with a new forecast for 2027 at 7.591 billion yuan [3][17] - The expected year-on-year growth rates for revenue from 2025 to 2027 are 2.9%, 6.3%, and 4.6% [3][17] - The projected net profits for 2025 and 2026 are 564 million yuan and 602 million yuan, respectively, with a forecast for 2027 at 620 million yuan [3][17] Financial Metrics - The company's gross profit margin for 2024 is expected to be 24.2%, down 1.6 percentage points year-on-year, while the gross profit margin for Q1 2025 is projected at 25.3% [2][11] - The company’s net profit margin is forecasted to decline to 6.3% in 2024, with a recovery to 7.4% in Q1 2025 [2][11] - The earnings per share (EPS) for 2025, 2026, and 2027 are projected to be 0.64 yuan, 0.68 yuan, and 0.70 yuan, respectively [3][17]
三全食品:公司事件点评报告:业绩边际改善,渠道策略持续优化-20250423
Huaxin Securities· 2025-04-23 02:05
Investment Rating - The report maintains a "Buy" investment rating for the company [1] Core Views - The company reported a total revenue of 6.632 billion yuan in 2024, a decrease of 6% year-on-year, with a net profit of 542 million yuan, down 28% year-on-year [4][9] - The company is focusing on optimizing its channel strategy and enhancing promotional investments to improve margins [5][6] - The company is expected to see a recovery in performance as demand improves, with projected EPS for 2025-2027 being 0.63, 0.69, and 0.78 yuan respectively [9][11] Summary by Sections Financial Performance - In 2024, the company's gross margin decreased by 2 percentage points to 24.22%, primarily due to increased promotional spending amid intensified market competition [5] - The company's net profit margin also declined, with a net margin of 8.18% in 2024 [5] Product Segments - Revenue from frozen noodle products was 5.599 billion yuan in 2024, down 4% year-on-year, while revenue from frozen prepared foods was 873 million yuan, down 19% year-on-year [6] - The company is enhancing flavor development and adjusting pricing strategies to stabilize revenue from traditional products [6] Channel Strategy - Revenue from distribution channels decreased by 9% to 4.999 billion yuan in 2024, while direct sales channels saw a 4% decline to 1.203 billion yuan [7] - The e-commerce channel revenue grew by 59% to 363 million yuan in 2024, although it faced challenges with high promotional costs leading to negative net margins [8] Profitability Forecast - The company is projected to achieve revenue growth rates of 4.7%, 6.4%, and 8.1% for 2025, 2026, and 2027 respectively [11] - The net profit is expected to recover gradually, with growth rates of 2.6%, 9.7%, and 12.6% for the same years [11]
三全食品:2024年年报及2025年一季报点评:经营承压,修复在途-20250423
Minsheng Securities· 2025-04-23 01:25
Investment Rating - The report maintains a "Recommended" rating for the company [4][6]. Core Views - The company experienced operational pressure in 2024, with a revenue decline of 6.0% year-on-year to 6.63 billion yuan and a net profit drop of 27.6% to 540 million yuan. The first quarter of 2025 showed a slight revenue decrease of 1.6% year-on-year [1][4]. - The company is focusing on expanding its B-end market while facing continued pressure on the C-end due to intense competition and declining foot traffic in traditional supermarkets [2][4]. - The company is innovating its product offerings and enhancing its e-commerce channels, which have shown significant growth [2][4]. Summary by Sections Financial Performance - In 2024, the company reported total revenue of 6.63 billion yuan, with a year-on-year decrease of 6.0%. The net profit attributable to shareholders was 540 million yuan, down 27.6% [1][5]. - For Q1 2025, revenue was 2.22 billion yuan, a decrease of 1.6% year-on-year, while net profit was 210 million yuan, down 9.2% [1][5]. Market Analysis - The retail and innovation/restaurant markets generated revenues of 5.12 billion yuan and 1.45 billion yuan respectively in 2024, with the C-end market declining by 8.1% and the B-end market growing by 1.1% [2][4]. - The company’s frozen food segment generated 5.60 billion yuan in revenue, a decrease of 4.0%, with a volume increase of 2.0% but a price drop of 5.9% [2][4]. Profitability and Costs - The gross margin for 2024 was 24.2%, down 1.6 percentage points year-on-year, attributed to increased channel costs and limited dilution of fixed costs due to market decline [3][4]. - The company’s net profit margin for 2024 was 8.2%, down 2.4 percentage points year-on-year [3][4]. Future Projections - Revenue projections for 2025-2027 are 6.76 billion yuan, 6.92 billion yuan, and 7.15 billion yuan, reflecting growth rates of 1.9%, 2.4%, and 3.3% respectively. Net profit is expected to reach 554 million yuan, 577 million yuan, and 603 million yuan in the same period [4][5].