洽洽食品股份有限公司 信息披露管理制度 第一章 总则 第一条 为提高公司信息披露工作质量和规范信息披露程序，规范洽洽食品 股份有限公司（以下简称"公司"）对外信息披露行为，确保公司对外信息披露 工作的真实性、准确性、及时性和统一性，保护公司和广大投资者的合法权益， 根据《中华人民共和国公司法》（以下简称"《公司法》"）《中华人民共和国 证券法》（以下简称"《证券法》"）《深圳证券交易所股票上市规则》（以下 简称"《上市规则》"）和中国证券监督管理委员会（以下简称"中国证监会"）、 深圳证券交易所(以下简称"深交所")的其他有关规定，结合本公司的实际，制 定本制度。 第二条 信息披露文件包括定期报告、临时报告、招股说明书、募集说明书、 上市公告书、收购报告书等。 第三条 本制度适用于公司下属各部门、分公司、全资子公司、控股子公司 及公司能够对其实施重大影响的参股公司（以下简称"各部门"）及相关信息披 露义务人。 信息披露义务人，是指公司及其董事、高级管理人员、股东、实际控制人， 收购人，重大资产重组、再融资、重大交易有关各方等自然人、单位及其相关人 员，破产管理人及其成员，以及法律、行政法规和中国证监会规定的其 ...

洽洽食品股份有限公司 内部审计制度 第一章 总 则 第一条 为洽洽食品股份有限公司（以下简称"公司"）内部审计工作，提 高内部审计工作质量，保护投资者合法权益，依据《中华人民共和国审计法》、 《审计署关于内部审计工作的规定》等有关法律、法规、规章和《深圳证券交易 所股票上市规则》等规定，制定本制度。 第二条 本制度所称内部审计，是指由公司内部机构或人员，对其内部控制 和风险管理的有效性、财务信息的真实性和完整性以及经营活动的效率和效果等 开展的一种评价活动。 第三条 本制度所称内部控制，是指公司董事会、审计委员会、高级管理人 员及其他有关人员为实现下列目标而提供合理保证的过程： （一）遵守国家法律、法规、规章及其他相关规定； （二）提高公司经营的效率和效果； （三）保障公司资产的安全； （四）确保公司信息披露的真实、准确、完整和公平。 第四条 公司依照国家有关法律、法规、规章及本指引的规定，结合本公司 所处行业和生产经营特点，建立健全内部审计制度，防范和控制公司风险，增强 公司信息披露的可靠性。内部审计制度经董事会审议通过。 第五条 公司董事会对内部控制制度的建立健全和有效实施负责，重要的内 部控制制度需经董 ...

证券代码：002557 证券简称：洽洽食品 公告编号：2025-080 债券代码：128135 债券简称：洽洽转债 洽洽食品股份有限公司 关于与关联方共同投资设立参股公司暨关联交易的公告 本公司及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。 一、与关联方共同投资暨关联交易概述 1、与关联方共同投资的基本情况 公司全资子公司上海创味来投资有限责任公司（以下简称"创味来"）与公 司控股股东合肥华泰集团股份有限公司（以下简称"合肥华泰集团"）拟共同投 资设立上海坤泽投资有限责任公司（暂定名，以下简称"投资公司"），公司全 资子公司创味来出资1.6亿元，出资占比40%；公司控股股东合肥华泰集团出资2.4 亿元，出资占比60%。该投资公司聚焦休闲食品产业链投资，在提升公司资金的 财务收益的同时，与合作伙伴共担风险、共享收益；同时，通过整合产业链优质 资源，充分发挥协同效应，实现战略共赢。 2、关联关系说明 合肥华泰集团为公司的控股股东，根据《深圳证券交易所股票上市规则》第 6.3.3 条的规定为公司关联法人，公司与合肥华泰集团发生的交易构成关联交易。 3、本次出资设立公司暨关 ...

二、董事会会议审议情况： 本次会议经过有效表决，形成如下决议： （一）会议以 7 票同意，0 票反对、0 票弃权，审议通过了《关于公司<2025 年第三季度报告>的议案》； 证券代码：002557 证券简称：洽洽食品 公告编号：2025-078 债券代码：128135 债券简称：洽洽转债 洽洽食品股份有限公司 第六届董事会第二十一次会议决议的公告 本公司及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。 一、董事会会议召开情况： 洽洽食品股份有限公司(以下简称"公司")第六届董事会第二十一次会议于 2025 年 10 月 19 日以书面及邮件等方式通知全体董事，并于 2025 年 10 月 23 日 以现场及通讯表决的方式在公司四楼会议室召开。会议应到会董事七人，实际到 会董事七人，符合召开董事会会议的法定人数。会议由公司董事长陈先保先生主 持，公司高级管理人员列席了会议，本次会议的召开符合《公司法》及《公司章 程》的有关规定。 本议案已经第六届董事会审计委员会 2025 年第四次会议审议通过。 公司《2025 年第三季度报告》刊登在《中国证券报》《证券时报》《上海 证 ...

Financial Performance - The company's revenue for Q3 2025 was ¥1,749,366,315.84, representing a decrease of 5.91% compared to the same period last year[5]. - Net profit attributable to shareholders was ¥79,359,909.73, down 72.58% year-on-year, while the net profit after deducting non-recurring items was ¥71,442,209.52, a decrease of 74.00%[5]. - The basic earnings per share for the period was ¥0.1569, reflecting a decline of 72.55% compared to the previous year[5]. - Total operating revenue for Q3 2025 was CNY 4,501,474,303.52, a decrease of 5.36% from CNY 4,757,630,667.36 in the same period last year[21]. - Net profit for the period was CNY 169,160,633.30, down 73.06% compared to CNY 626,264,559.22 in the previous year[22]. - Earnings per share (EPS) decreased to CNY 0.3313 from CNY 1.2292, reflecting a significant decline in profitability[22]. - The company reported a total comprehensive income of CNY 246,344,701.49, down from CNY 695,674,475.88 in the previous year[22]. Assets and Liabilities - Total assets at the end of the reporting period were ¥8,687,631,188.54, down 13.62% from the end of the previous year[5]. - The company’s total assets as of September 30, 2025, amounted to RMB 8.69 billion, down from RMB 10.06 billion at the beginning of the period[17]. - Total liabilities decreased to CNY 3,414,160,293.86 from CNY 4,328,912,448.44, indicating a reduction in financial obligations[19]. - The company’s total equity attributable to shareholders decreased by 7.96% to ¥5,270,158,436.02 compared to the end of the previous year[5]. - The company’s total equity attributable to shareholders decreased to CNY 5,270,158,436.02 from CNY 5,725,989,635.60, showing a decline in shareholder value[19]. Cash Flow - The company reported a net cash flow from operating activities of ¥581,346,577.98, which decreased by 52.95% year-to-date[5]. - Operating cash flow for the current period is ¥581,346,577.98, a decrease of 53% compared to ¥1,235,464,123.83 in the previous period[23]. - Cash received from sales of goods and services is ¥5,231,351,772.34, a decrease from ¥5,348,548,667.81 in the previous period[23]. - Total cash outflow from operating activities is ¥4,766,802,878.48, compared to ¥4,213,362,714.81 in the previous period[23]. - Cash inflow from financing activities is ¥2,133,000,000.00, an increase from ¥1,609,918,325.00 in the previous period[24]. - Net cash flow from financing activities is -¥821,161,714.08, worsening from -¥345,416,802.46 in the previous period[24]. Investments and Expenses - Research and development expenses increased by 33.11% to ¥6,279,000, indicating a focus on new product development[10]. - The company’s investment income increased by 86.08% to ¥3,368,000, attributed to higher returns from financial investments[10]. - Financial expenses included interest expenses of CNY 82,059,929.14, compared to CNY 42,771,367.74 in the prior year, indicating increased borrowing costs[21]. - The company reported a significant decrease in cash flow from investing activities, with a net outflow of ¥26,807,000, reflecting increased financial investment outflows[10]. Share Repurchase - As of September 30, 2025, the company repurchased a total of 1,055,192 shares, accounting for 0.209% of the total share capital, with a total transaction amount of approximately RMB 27.66 million[14]. - The company plans to repurchase shares using a total fund of no less than RMB 40 million and no more than RMB 80 million, with a maximum repurchase price of RMB 47.48 per share[13]. - The company’s total liabilities and equity structure will be further evaluated following the share repurchase plan[13]. Inventory and Fixed Assets - The company’s inventory decreased significantly from RMB 1.55 billion to RMB 642.74 million during the reporting period[17]. - The company’s fixed assets decreased from RMB 1.33 billion to RMB 1.22 billion during the reporting period[17]. - The company’s long-term equity investments decreased from RMB 91.31 million to RMB 81.73 million during the reporting period[17]. Shareholder Information - The company’s total number of common stock shareholders at the end of the reporting period was 54,289[12]. - The company’s financial report indicates a significant reduction in accounts receivable from RMB 418.38 million to RMB 243.98 million[17]. - The company’s cash and cash equivalents decreased to RMB 4.08 billion from RMB 4.58 billion at the beginning of the period[17]. - The ending balance of cash and cash equivalents is ¥3,872,071,969.70, down from ¥5,251,716,140.06 in the previous period[24].

洽洽食品公告，第三季度营收为17.49亿元，下降5.91%；净利润为7935.99万元，下降72.58%。前三季 度营收为45.01亿元，下降5.38%；净利润为1.68亿元，下降73.17%。 ...

Group 1 - The company is currently in the process of procuring sunflower seeds, which typically begins in September or October and continues until before the Spring Festival [1] - The price of sunflower seeds has significantly decreased this year, with the current price being below 5 yuan per unit [1] - The company adjusts the proportion of raw material procurement dynamically based on market conditions and inventory changes, particularly before and after the Spring Festival [1]

Investment Rating - The report maintains a recommendation for the liquor sector, indicating a bottoming out phase with potential for recovery in the future [2]. Core Insights - The liquor industry is experiencing a significant decline in sales, with an expected drop of over 20% in overall sales volume. However, there are signs of month-on-month improvement, and the decline is narrowing [5][9]. - Major liquor companies like Moutai and Wuliangye are showing strong recovery in payment collection, with over 80% collection rates, while regional brands are performing adequately [5][9]. - The report emphasizes the importance of focusing on high-quality liquor brands that are likely to recover faster, such as Moutai and Fenjiu, while also highlighting the need to monitor companies undergoing significant changes [6][9]. Summary by Sections 1. Liquor Sector: Q3 Accelerated Decline and Bottoming Out - The liquor sector is facing a 20%+ decline in sales due to external demand shocks, with a gradual improvement expected in the coming months [5][9]. - High-end liquor brands are expected to show resilience, with Moutai projected to achieve a 3% revenue growth in Q3, while Wuliangye is expected to see a 20% revenue decline [10][11]. - The report indicates that companies are adjusting their strategies to reduce channel pressure and improve operational efficiency [9][10]. 2. Consumer Goods Sector: Overall Demand Weakness, Structural Resilience - The consumer goods sector is experiencing overall weak demand, but segments like snacks and beverages are showing higher resilience [17][24]. - The report notes that while the demand for dairy and beer remains stable, the restaurant supply chain is still under pressure [17][24]. - Raw material prices are generally declining, which may provide some cost relief to companies in the sector [24][25]. 3. Investment Recommendations: Focus on Liquor Bottoming Catalysts and Selective Consumer Goods Trends - The report suggests focusing on liquor companies that are at the bottom of their cycles, with Moutai and Fenjiu being primary recommendations [6][9]. - For consumer goods, the report highlights the potential of snack and beverage companies, recommending brands that are well-positioned to benefit from current trends [6][17].

Core Insights - The article discusses the rising trend of Chinese snack brands expanding into international markets, driven by intense domestic competition and the need for growth opportunities [2][3]. Group 1: Market Trends - Chinese snacks have become popular not only among overseas Chinese but also among local young consumers in foreign markets [1]. - Social media influencers are showcasing Chinese snacks like spicy strips and sunflower seeds, indicating a growing acceptance and demand in regions like Southeast Asia [2]. - Domestic brands are facing challenges due to increased competition from low-cost retailers, prompting them to seek growth abroad [2]. Group 2: Financial Performance - In the first half of the year, Qiaqia Foods reported a 6.4% decline in domestic revenue, while overseas revenue grew by 13.18% [2]. - Weidong's overseas revenue surged by 54.4%, significantly outpacing its domestic growth of around 20% [2]. - Yanjinpuzi's overseas business saw an astonishing growth of 67,800% due to a low base effect [2]. Group 3: Historical Context - The trend of Chinese snacks going international began in the early 2000s, with Qiaqia Foods being one of the pioneers [4]. - Initial international efforts were primarily focused on Chinese communities abroad, limiting brand reach [4]. - A shift occurred in 2015 when Qiaqia began to focus on brand storytelling and international trademark registration [4]. Group 4: Market Strategies - Qiaqia emphasizes offline channels, targeting high-traffic convenience stores like 7-Eleven in Thailand, which holds a 70% market share in the local convenience store sector [6]. - Three squirrels adopted an online strategy, launching flagship stores on platforms like Lazada and Amazon, and utilizing social media for brand promotion [7]. - Post-2018, brands have shown increased initiative and sophistication in their international strategies, reflecting a better alignment with market positioning [7]. Group 5: Competitive Landscape - Despite the growth, Chinese snack brands still face significant competition from established Western and Japanese brands in international markets [8]. - Unique Chinese snacks like spicy strips and quail eggs are being positioned as niche products to carve out market space [8][9]. Group 6: Localization and Compliance - Successful international brands like Weidong have adapted their products to local tastes, such as offering milder flavors in Italy and incorporating local ingredients in Southeast Asia [10]. - Compliance with local food regulations is critical, as different countries have varying standards that can impact product viability [11][12]. - The need for halal certification in Indonesia and strict labeling requirements in Western markets highlight the complexities of international expansion [12]. Group 7: Long-term Strategies - Companies are moving from merely exporting products to establishing local production facilities, which helps reduce logistics costs and respond to local demand [14][15]. - Qiaqia has invested significantly in overseas production, with its first factory in Thailand contributing to a notable increase in overseas revenue [15]. - The long-term goal is to integrate into global supply chains, enhancing brand recognition and acceptance similar to established brands like Oreo [15].

Core Points - The introduction of digital labels for pre-packaged foods aims to enhance consumer access to important product information and improve the overall food industry [1][2][5] Group 1: Digital Label Implementation - The National Health Commission and the State Administration for Market Regulation have issued guidelines for the implementation of digital labels on pre-packaged foods, detailing their scope, application, and modification requirements [1][4] - Digital labels utilize QR codes and other digital means to present food information, encouraging the display of legally required information such as ingredient sources, production processes, and food safety details [2][4] Group 2: Consumer Benefits - Consumers can scan digital labels to access detailed product information, including ingredient lists and expiration dates, with features like voice reading and enlarged text for better readability [2][3] - The digital label system ensures that essential information remains on physical labels, addressing concerns for consumers who may not be adept with smart devices [3] Group 3: Regulatory Compliance - Digital labels must comply with food safety laws and standards, ensuring that advertising and marketing content does not interfere with essential food safety information [4] - The guidelines promote the integration of multiple QR codes into a single digital label to streamline consumer experience and avoid confusion [4][7] Group 4: Industry Impact - Digital labels can reduce costs for food manufacturers by minimizing the need for multiple label designs and improving supply chain data management [7][8] - The initiative is expected to contribute to environmental sustainability by reducing carbon emissions associated with label production, with potential savings of 1.6 billion yuan annually for the food industry [8] Group 5: Future Developments - The National Health Commission aims to promote digital labels as part of a broader digital transformation in the food industry, with 2025 designated as the "Year of Food Digital Labels" [5][8] - The initiative is seen as a significant step towards enhancing the digital infrastructure of food labeling, which will also align with international standards [8]