Group 1 - The company, Jinzi Ham Co., Ltd., received a government subsidy totaling 6.6563 million yuan, with 3.32815 million yuan already received as of February 6, 2024 [1][2] - The remaining subsidy amount of 3.32815 million yuan accounts for 5.35% of the company's latest audited net profit attributable to shareholders [2] - The government subsidy is classified as income-related, according to the relevant accounting standards [3] Group 2 - The company will recognize the subsidy in its financial statements as other income for the year 2025, in accordance with accounting standards [4] - The subsidy is expected to increase the company's total profit for the year 2025, with the final impact subject to the annual audit confirmation by accountants [5]

Core Viewpoint - Jinzi Ham (002515) has received government subsidies totaling 6.6563 million yuan, which will positively impact its financial performance in 2025 [1] Group 1: Stock Performance - As of November 24, 2025, Jinzi Ham's stock closed at 5.9 yuan, up 0.34% from the previous trading day [1] - The stock opened at 5.95 yuan, reached a high of 5.98 yuan, and a low of 5.81 yuan, with a trading volume of 1.42 billion yuan and a turnover rate of 1.98% [1] Group 2: Government Subsidy Announcement - The company disclosed on February 8, 2024, that it received a government subsidy of 6.6563 million yuan, with the first installment of 3.32815 million yuan received on February 6, 2024 [1] - The remaining subsidy of 3.32815 million yuan accounts for 5.35% of the company's most recent audited net profit attributable to shareholders [1] - The government subsidy is classified as income-related and will be recorded as other income in 2025, expected to increase the total profit for that year [1]

证券代码：002515 证券简称：金字火腿 公告编号：2025-063 金字火腿股份有限公司 关于获得政府补助的进展公告 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 导性陈述或者重大遗漏。 一、获取补助的基本情况 金字火腿股份有限公司（以下简称"公司"）于 2024 年 2 月 8 日披露了《关 于获得政府补助的公告》（公告编号：2024-002），公司获得 665.63 万元的奖 励。2024 年 2 月 6 日，公司已收到上述部分奖励人民币 332.815 万元。 二、获取补助的进展情况 近日，公司收到上述奖励的剩余补助资金人民币 332.815 万元，占公司最近 一期经审计的归属于上市公司股东净利润的 5.35%。截至本公告披露日，上述政 府补助款已全部收到。 三、补助的类型及其对公司的影响 1、补助的类型 根据《企业会计准则第 16 号-政府补助》的相关规定，与资产相关的政府补 助，是指企业取得的、用于购建或以其他方式形成长期资产的政府补助；与收益 相关的政府补助，是指除与资产相关的政府补助之外的政府补助。因此以上政府 补助属于与收益相关的政府补助。 2、补助的确认和计 ...

Group 1 - The company, Jinzi Ham, approved an investment framework agreement with Zhongsheng Microelectronics (Hangzhou) Co., Ltd. to acquire up to 20% equity through a capital increase of no more than RMB 300 million [2] - The first round of investment involves Jinzi Semiconductor investing RMB 10 million to subscribe for an increase in registered capital of 29,735.3 yuan, resulting in a 9.0909% equity stake in Zhongsheng Microelectronics [3] - Zhongsheng Microelectronics has completed the business registration changes and obtained a business license from the market supervision administration [4] Group 2 - The company will disclose any progress or changes regarding the transaction in accordance with relevant laws and regulations [4]

金字火腿股份有限公司 关于全资子公司对外投资的进展公告 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 导性陈述或者重大遗漏。 证券代码：002515 证券简称：金字火腿 公告编号：2025-062 二、交易进展情况 近日，中晟微已完成了工商变更登记手续并取得杭州市萧山区市场监督管理 1 | 局颁发的《营业执照》，基本登记信息如下： | | --- | | 企业名称 | 中晟微电子（杭州）有限公司 | | --- | --- | | 统一社会信用代码 | 91320111MA1Y935A0U | | 企业类型 | 有限责任公司 | | 法定代表人 | 李壤中 | | 注册资本 | 327.0880 万元 | | 成立日期 | 2019 年 4 月 19 日 | | 注册地址 | 浙江省杭州市萧山区宁围街道悦盛国际中心 1501 室、15 | | | 室 04 | | | 微电子科技研发；半导体、集成电路、芯片、计算机软硬 | | | 件设计、开发、销售、维护；电子产品、数码产品、通讯 | | 经营范围 | 设备、五金、塑料制品、橡胶制品销售；市场营销策划； | | | 货物或技术的 ...

Core Insights - The food processing sector experienced a slight increase of 0.21% on November 17, with Huadong Co., Ltd. leading the gains [1] - The Shanghai Composite Index closed at 3972.03, down 0.46%, while the Shenzhen Component Index closed at 13202.0, down 0.11% [1] Stock Performance - Huadong Co., Ltd. (002840) closed at 11.85, up 4.68% with a trading volume of 557,400 shares and a turnover of 658 million yuan [1] - Other notable gainers included Jinzi Ham (002515) with a 3.05% increase, and Haixin Food (002702) with a 1.79% increase [1] - Conversely, stocks like Baba Food (605338) and Qianwei Central Kitchen (001215) saw declines of 3.48% and 2.53% respectively [2] Capital Flow - The food processing sector saw a net outflow of 32.6 million yuan from institutional investors, while retail investors contributed a net inflow of 3.6 million yuan [2] - Notable net inflows from retail investors were observed in stocks like Huadong Co., Ltd. and Haixin Food, while significant outflows were noted in stocks like Jinzi Ham and Qianwei Central Kitchen [3] Individual Stock Analysis - Huadong Co., Ltd. had a net inflow of 36.5 million yuan from institutional investors, while retail investors showed a net outflow of 34.3 million yuan [3] - Haixin Food experienced a net inflow of 18.8 million yuan from institutional investors, but a net outflow of 52.9 million yuan from retail investors [3] - Jinzi Ham saw a net inflow of 16.7 million yuan from institutional investors, with a smaller net inflow from retail investors [3]

Group 1 - The food processing sector increased by 0.31% on November 12, with Anjijia Food leading the gains [1] - The Shanghai Composite Index closed at 4000.14, down 0.07%, while the Shenzhen Component Index closed at 13240.62, down 0.36% [1] - Anjijia Food's closing price was 81.22, reflecting a rise of 5.19% with a trading volume of 184,000 shares and a transaction value of 1.509 billion yuan [1] Group 2 - The food processing sector experienced a net outflow of 275 million yuan from institutional investors, while retail investors saw a net inflow of 239 million yuan [2] - The top gainers in the food processing sector included Qianwei Central Kitchen and Xianle Health, with closing prices of 41.48 and 25.23, respectively, reflecting increases of 2.75% and 1.77% [1] - The sector's main stocks showed varied performance, with some experiencing significant declines, such as Gaisijia Food, which fell by 7.31% [2]

Core Insights - The plant-based meat concept has seen a rise of 2.26%, ranking fourth among concept sectors, with 18 stocks increasing in value, notably Guoen Co., Sobo Protein, and Lingge Technology, which rose by 9.68%, 7.19%, and 6.25% respectively [1] Market Performance - The leading concept sectors for the day included cultivated diamonds at 6.08% and plant-based meat at 2.26%, while sectors like Chinese AI 50 and internet insurance saw declines of -1.76% and -1.43% respectively [2] - The plant-based meat sector experienced a net outflow of 7.7462 million yuan, with nine stocks seeing net inflows, led by Jinzi Ham with a net inflow of 32.2749 million yuan [2] Fund Flow Analysis - The stocks with the highest net inflow ratios in the plant-based meat sector included Jia Hua Co., Jinzi Ham, and Sobo Protein, with net inflow rates of 13.19%, 12.45%, and 7.97% respectively [3] - The top stocks in terms of net inflow and performance included: - Jinzi Ham: 1.28% increase, 3.38% turnover rate, 32.2749 million yuan net inflow, 12.45% net inflow ratio - Sobo Protein: 7.19% increase, 10.36% turnover rate, 18.9609 million yuan net inflow, 7.97% net inflow ratio - Jia Hua Co.: 2.06% increase, 3.44% turnover rate, 12.1588 million yuan net inflow, 13.19% net inflow ratio [3][4]

Core Viewpoint - The food processing sector experienced a slight increase of 0.37% on November 11, with Gais Food leading the gains, while the overall market indices saw declines [1]. Group 1: Market Performance - The Shanghai Composite Index closed at 4002.76, down 0.39%, and the Shenzhen Component Index closed at 13289.0, down 1.03% [1]. - Gais Food's stock price rose by 4.89% to 15.86, with a trading volume of 270,200 shares and a transaction value of 419 million yuan [1]. Group 2: Individual Stock Performance - Other notable gainers included: - Kangbiter, up 4.65% to 18.92, with a trading volume of 53,400 shares and a transaction value of 99.55 million yuan [1]. - Babi Food, up 4.43% to 32.08, with a trading volume of 167,500 shares and a transaction value of 530 million yuan [1]. - Haixin Food, up 3.12% to 5.29, with a trading volume of 397,300 shares and a transaction value of 208 million yuan [1]. Group 3: Capital Flow - The food processing sector saw a net outflow of 159 million yuan from institutional investors, while retail investors contributed a net inflow of 100 million yuan [2]. - Gais Food had a net inflow of 25.86 million yuan from retail investors, indicating strong interest from individual investors [3].

Investment Rating - The industry investment rating is "Outperform the Market" [22] Core Viewpoints - The overall performance of the liquor industry has significantly declined, entering a rapid clearing phase, but demand is expected to show weak recovery as policy pressures ease [3] - The industry is currently at a low valuation level, with pessimistic expectations fully priced in, indicating a clearer direction for future industry clearing [3] - The introduction of new tax policies in the gold sector is expected to benefit companies with brand and channel advantages, leading to a concentration of demand towards leading enterprises [4] Summary by Sections Industry Performance - The food and beverage industry index decreased by 0.56%, underperforming the Shanghai Composite Index, which increased by 1.08% [4][6] - Among the sub-sectors, pre-processed foods led with a gain of 2.26%, while soft drinks saw the largest decline at -1.20% [4][9] Liquor Sector Insights - Guizhou Moutai announced a mid-term dividend of approximately 30 billion yuan and a buyback plan of 15-30 billion yuan, enhancing shareholder returns [4] - Guizhou is promoting a shift in the liquor industry from "selling liquor" to "selling lifestyle," aiming to upgrade the industry from traditional manufacturing to cultural experience [4] Gold Sector Developments - The new tax policy for gold sales, effective from November 1, is expected to increase costs for non-member companies, potentially shifting demand towards leading firms with membership qualifications [4] Consumer Goods Focus - The report suggests focusing on high-growth consumer goods companies, such as Wancheng Group and Dongpeng Beverage, which are expected to receive valuation premiums due to their growth trajectories [5]