证券代码：002515 证券简称：金字火腿 公告编号：2025-057 | 经营活动）。许可项目： | 经营活动）。 | | --- | --- | | 道路货物运输（不含危险 | | | 货物）；道路货物运输（网 | | | 络货运）（依法须经批准 | | | 的项目，经相关部门批准 | | | 后方可开展经营活动，具 | | | 体经营项目以审批结果 | | | 为准）。 | | 特此公告。 金字火腿股份有限公司董事会 2025 年 10 月 21 日 关于全资子公司完成工商变更登记并换发营业执照的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误 导性陈述或重大遗漏。 金字火腿股份有限公司（以下简称"公司"）于近日收到全资子公司金华金 字火腿有限公司（以下简称"金华金字"）及金字冷冻食品城有限公司（以下简 称"金字冷冻城"）的通知，因业务发展需要，金华金字及金字冷冻城对法定代 表人、经营范围等工商登记信息进行了变更。现上述两家全资子公司均已完成工 商变更登记手续，并取得由金华市市场监督管理局换发的营业执照，具体变更信 息如下： | 变更主体 | 变更项目 | 变更前 | 变 ...

Market Overview - On October 20, the food processing sector rose by 0.14% compared to the previous trading day, with *ST Chuntian leading the gains [1] - The Shanghai Composite Index closed at 3863.89, up 0.63%, while the Shenzhen Component Index closed at 12813.21, up 0.98% [1] Stock Performance - The top performers in the food processing sector included: - *ST Chuntian (600381) with a closing price of 5.21, up 5.04% with a trading volume of 147,500 shares and a turnover of 76.248 million yuan [1] - Huifa Food (603536) closed at 11.01, up 4.06% with a trading volume of 158,400 shares and a turnover of 172 million yuan [1] - Jiaoda Anli (600530) closed at 8.71, up 3.69% with a trading volume of 227,800 shares and a turnover of 197 million yuan [1] Capital Flow - The food processing sector experienced a net outflow of 53.8264 million yuan from institutional investors, while retail investors saw a net inflow of 46.0448 million yuan [2] - The capital flow for individual stocks showed: - Jiaoda Anli (600530) had a net inflow of 18.9711 million yuan from institutional investors [3] - *ST Chuntian (600381) had a net inflow of 13.8693 million yuan from institutional investors [3] - Double Happiness Development (000895) had a net inflow of 18.8154 million yuan from institutional investors [3]

Investment Rating - The report does not explicitly state an investment rating for the industry, but it suggests focusing on the duty-free retail sector and the ice and snow economy as potential investment opportunities. Core Insights - The recent adjustments to the Hainan duty-free shopping policy are expected to enhance the attractiveness of Hainan as a free trade port, expanding the range of duty-free goods and increasing consumer participation [2][3]. - The early onset of the snow season in Xinjiang is anticipated to benefit the ice and snow economy, with government initiatives aiming for a total output value of 200 billion yuan by 2030 [2][3]. - The report highlights the performance of various sectors within the consumer industry, noting significant stock price changes among leading companies [2][3]. Summary by Sections Market Weekly Review - The consumer sector showed mixed performance, with food and beverage, retail, and home appliances experiencing gains, while beauty care and textiles saw declines [2][3]. - Notable stock performances included Kuaijishan (+11.08%) and Dongbei Group (+8.97%) leading the gains, while Jinzi Ham (-17.80%) and Biyi Co. (-19.63%) faced significant losses [2][3]. Industry News and Key Company Announcements - The Hainan duty-free policy adjustments include expanding the range of duty-free goods to 47 categories and allowing more consumer participation [2][3]. - The ice and snow industry is projected to exceed 1 trillion yuan by 2025, driven by upcoming major events and government support [2][3]. - Various companies reported significant revenue growth, such as Spring Breeze Power with a 28.56% increase in Q3 revenue [2][3].

Market Overview - The Shanghai Composite Index fell by 1.47% this week, with only four industries showing gains, led by the banking and coal sectors, which rose by 4.89% and 4.17% respectively [1] - The food and beverage industry ranked third in terms of weekly gains [1] Fund Flow Analysis - Total net outflow of main funds from both markets reached 301.749 billion yuan this week, with only two industries experiencing net inflows: banking (24.19 billion yuan) and coal (2.67 billion yuan) [1] - The electronic industry saw the largest net outflow, totaling 70.079 billion yuan, followed by the power equipment sector with a net outflow of 41.692 billion yuan [1] Industry Performance - The food and beverage sector increased by 0.86% this week, despite a net outflow of 378 million yuan in main funds [3] - Within the food and beverage sector, 49 out of 124 stocks rose, with notable increases from Kweichow Moutai (11.08%), Miaokelando (8.52%), and Guifaxiang (6.90%) [3] - Conversely, 71 stocks declined, with Jinzi Ham, Yangyuan Beverage, and Zhuangyuan Pasture experiencing significant drops of 17.80%, 16.56%, and 14.06% respectively [3] Top Stocks in Food and Beverage - Kweichow Moutai led the net inflow with 680 million yuan, followed by Luzhou Laojiao (204 million yuan) and Wuliangye (198 million yuan) [3] - The top outflow stocks included Jinzi Ham (-186 million yuan), Yangyuan Beverage (-171 million yuan), and Zhuangyuan Pasture (-135 million yuan) [4]

Market Overview - On October 17, the food processing sector declined by 0.96%, with Jinzi Ham leading the drop [1] - The Shanghai Composite Index closed at 3839.76, down 1.95%, while the Shenzhen Component Index closed at 12688.94, down 3.04% [1] Stock Performance - Notable stock performances included: - *ST Chuntian: Closed at 4.96, up 1.64% with a trading volume of 148,600 shares and a turnover of 74.7 million yuan [1] - Jinzi Ham: Closed at 6.42, down 8.02% with a trading volume of 848,900 shares and a turnover of 563 million yuan [2] - Other stocks like Huazhong Food and Shuanghui Development showed minor declines [1][2] Capital Flow - The food processing sector experienced a net outflow of 236 million yuan from institutional investors, while retail investors saw a net inflow of 222 million yuan [2] - The capital flow for specific stocks indicated: - *ST Chuntian: Net inflow from retail investors was 434,440 yuan, while institutional investors had a net outflow of 764,960 yuan [3] - Jinzi Ham had a significant net outflow of 5.63 billion yuan from institutional investors [2][3] Summary of Key Stocks - The following stocks had notable capital movements: - *ST Chuntian: 10.24% of net inflow from institutional investors [3] - Jinzi Ham: 8.02% decline in stock price, indicating significant selling pressure [2] - Other stocks like Huazhong Food and Wufangzhai also faced net outflows from institutional investors [3]

Market Overview - The food processing sector increased by 0.49% on October 16, with *ST Chuntian leading the gains [1] - The Shanghai Composite Index closed at 3916.23, up 0.1%, while the Shenzhen Component Index closed at 13086.41, down 0.25% [1] Stock Performance - *ST Chuntian (600381) closed at 4.88, up 4.95% with a trading volume of 89,600 shares and a turnover of 43.38 million yuan [1] - Quandawei (002626) closed at 21.90, up 3.01% with a trading volume of 239,000 shares and a turnover of 52.5 million yuan [1] - Tangchen Beijian (300146) closed at 12.46, up 2.81% with a trading volume of 570,200 shares and a turnover of 714 million yuan [1] - Shuanghui Development (000895) closed at 25.40, up 0.99% with a trading volume of 108,000 shares and a turnover of 274 million yuan [1] - Other notable stocks include Jiaoda Anli (600530) and Chunxue Food (605567), with minor increases of 0.84% and 0.20% respectively [1] Capital Flow - The food processing sector experienced a net outflow of 106 million yuan from institutional investors, while retail investors saw a net inflow of 69.89 million yuan [2] - The overall capital flow indicates a mixed sentiment, with institutional investors withdrawing funds while retail investors are actively buying [2] Individual Stock Capital Flow - Anjiu Food (603345) had a net inflow of 18.59 million yuan from institutional investors, while retail investors had a net outflow of 34.42 million yuan [3] - Jiaoda Anli (600530) saw a net inflow of 16.91 million yuan from institutional investors, but retail investors had a net outflow of 9.50 million yuan [3] - *ST Chuntian (600381) had a net inflow of 11.76 million yuan from institutional investors, with retail investors also experiencing a net outflow [3]

Core Viewpoint - The stock of Jinzi Ham has experienced fluctuations, with a notable decline in recent trading days despite a significant year-to-date increase in price [1][2]. Financial Performance - As of June 30, 2025, Jinzi Ham reported a revenue of 170 million yuan, representing a year-on-year decrease of 14.73% [2]. - The net profit attributable to shareholders for the same period was 22.92 million yuan, down 25.11% year-on-year [2]. - Cumulative cash dividends since the company's A-share listing amount to 257 million yuan, with 80.1 million yuan distributed over the past three years [3]. Stock Market Activity - On October 16, Jinzi Ham's stock price fell by 2.09%, trading at 7.04 yuan per share, with a total market capitalization of 8.523 billion yuan [1]. - The stock has seen a year-to-date increase of 56.44%, but has declined by 12.44% over the last five trading days and 5.76% over the last twenty days [1]. - The net outflow of main funds was 16.203 million yuan, with significant selling pressure observed [1]. Shareholder Information - As of June 30, 2025, the number of shareholders decreased to 32,600, a reduction of 9.15% from the previous period [2]. - The average number of circulating shares per shareholder increased by 14.78% to 37,121 shares [2]. - Hong Kong Central Clearing Limited has exited the list of the top ten circulating shareholders [3]. Business Overview - Jinzi Ham, established on November 15, 1994, and listed on December 3, 2010, specializes in the research, production, and sales of Jinhua ham and various fermented meat products [1]. - The company's main business revenue composition includes: ham (58.94%), specialty meat products (24.82%), cold chain services (6.83%), branded meat (5.98%), ham products (1.82%), and others (1.61%) [1].

Market Overview - On October 14, the food processing sector rose by 0.04% compared to the previous trading day, with Gai Shi Food leading the gains [1] - The Shanghai Composite Index closed at 3865.23, down 0.62%, while the Shenzhen Component Index closed at 12895.11, down 2.54% [1] Stock Performance - Gai Shi Food (code: 920826) closed at 13.35, up 3.57% with a trading volume of 89,900 shares and a turnover of 118 million yuan [1] - Wei Zhi Xiang (code: 605089) closed at 26.33, up 3.38% with a trading volume of 25,100 shares and a turnover of 65.18 million yuan [1] - Hui Fa Food (code: 603536) closed at 10.67, up 2.01% with a trading volume of 139,900 shares and a turnover of 149 million yuan [1] - Other notable performers include Kang Bi Te (code: 920429) up 1.63% and Shuanghui Development (code: 000895) up 1.17% [1] Capital Flow - The food processing sector experienced a net outflow of 125 million yuan from institutional investors, while retail investors saw a net inflow of 140 million yuan [2] - The overall capital flow indicates a mixed sentiment, with institutional investors pulling back while retail investors are more active [2] Individual Stock Capital Flow - ST Chuntian (code: 600381) had a net inflow of 3.86 million yuan from institutional investors, while it faced a net outflow of 3.76 million yuan from speculative funds [3] - Hui Fa Food (code: 603536) saw a net inflow of 2.40 million yuan from institutional investors, but a net outflow of 2.55 million yuan from retail investors [3] - Shuanghui Development (code: 000895) had a net inflow of 1.87 million yuan from institutional investors, with a significant outflow of 38.42 million yuan from speculative funds [3]

Core Insights - The food processing sector experienced a decline of 1.0% on October 13, with Jinzi Ham leading the drop [1] - The Shanghai Composite Index closed at 3889.5, down 0.19%, while the Shenzhen Component Index closed at 13231.47, down 0.93% [1] Stock Performance - Baba Foods (605338) saw a significant increase of 6.29%, closing at 25.50 with a trading volume of 81,400 shares and a transaction value of 206 million [1] - Jinzi Ham (002515) reported a notable decline of 6.02%, closing at 7.34 with a trading volume of 1,203,900 shares and a transaction value of 883 million [2] - Other notable performers included Qianwei Yangchu (001215) with a 2.00% increase and a closing price of 42.43, and Guangming Meat Industry (600073) with a 4.33% decrease [1][2] Capital Flow - The food processing sector experienced a net outflow of 149 million from institutional investors, while retail investors saw a net inflow of 15.51 million [2] - Major stocks like Baba Foods and Qianwei Yangchu attracted net inflows from retail investors, while Jinzi Ham and Longda Food faced significant outflows from institutional investors [3]

Core Insights - Traditional food companies like Jinzi Ham and Yangyuan Beverage are making significant investments in the semiconductor industry, raising questions about their motivations and the potential for success in this new sector [1][4][5] Group 1: Investment Moves - Jinzi Ham announced plans to invest up to 300 million RMB in Zhongsheng Microelectronics, acquiring up to 20% equity, despite the latter's low revenue of 51,000 RMB and a net loss of 20.37 million RMB in the first seven months of the year [1][2] - Yangyuan Beverage invested 1.6 billion RMB in Changjiang Storage Technology, acquiring 0.99% equity, with the investment framed as a financial move rather than a strategic one [2][3] Group 2: Market Potential - The global optical device market is projected to reach 52 billion USD by 2029, with a compound annual growth rate of 11%, driven by data center interconnect demand [2] - Jinzi Ham's investment in Zhongsheng Microelectronics is seen as a bet on future market potential, despite the current lack of profitability [2][4] Group 3: Company Performance - Yangyuan Beverage reported a 16.19% decline in revenue to 2.465 billion RMB and a 27.76% drop in net profit to 744 million RMB in the first half of 2025, marking the first time in three years that both metrics declined [5][7] - Jinzi Ham's revenue fell by 14.73% to 170 million RMB, with net profit down 25.11% to 22.92 million RMB in the same period [6] Group 4: Strategic Rationale - Both companies are leveraging their brand strength and market positioning to explore new growth avenues in the semiconductor sector, with Jinzi Ham focusing on optical communication chips and Yangyuan Beverage eyeing storage chips [4][6] - The investments are seen as a way to tap into the growing demand for advanced technology products, particularly in AI and data storage [3][4]