Group 1: Industry Overview - Konjac, known as "human cat strips," is becoming a phenomenon in the snack food market, attracting significant attention from various companies [1][5] - The konjac food industry has experienced a compound annual growth rate of 20% over the past decade, with the market size expected to reach 26.9 billion yuan in 2024 [5] - Major snack companies are increasingly entering the konjac segment, including Salted Fish Pouch, Wei Long, and Qiaqia Food, among others [1][6][7] Group 2: Company Performance - Salted Fish Pouch reported a revenue of 29.41 billion yuan in the first half of 2025, a year-on-year increase of 19.58%, with konjac snacks contributing 7.91 billion yuan, up 155.10% [6][7] - Wei Long's revenue reached 34.83 billion yuan in the first half of 2025, growing 18.5%, with konjac products driving a 44.3% increase in the vegetable product segment [5][6] - Qiaqia Food's revenue declined by 5.05% to 27.52 billion yuan in the first half of 2025, despite launching new konjac products [8] Group 3: Market Competition - The competition among snack companies is intensifying, with the number of stores for the "Ming Ming Very Busy" group surpassing 20,000 nationwide [3][10] - Companies are focusing on expanding their presence in snack retail channels, with Salted Fish Pouch emphasizing a strategy shift towards channel dominance [11][12] - Three Squirrels is also exploring opportunities in the konjac segment while investing in community snack stores to enhance competition [8][12][13]

Core Viewpoint - The emergence of konjac as a phenomenon-level snack product is driving significant revenue growth for various snack companies, with notable contributions from brands like Salted Fish Pouch and Wei Long [1][4][5]. Group 1: Company Performance - Salted Fish Pouch's konjac snack brand "Da Mo Wang" generated revenue of 791 million yuan in the first half of 2025, a year-on-year increase of 155.10%, accounting for 26.90% of total revenue [1][6]. - Wei Long's konjac products "Mo Yu Shuang" and "Xiao Mo Nu" significantly boosted its vegetable product segment revenue by 44.3% to 2.109 billion yuan, representing 60.5% of total revenue in the first half of 2025 [5][6]. - The overall revenue for Wei Long reached 3.483 billion yuan, with a net profit of 736 million yuan, both reflecting an 18.5% year-on-year growth [2][5]. Group 2: Market Trends - The konjac food industry has experienced a compound annual growth rate of 20% over the past decade, with a projected market size of 26.9 billion yuan by 2024 [4]. - More than 30 companies, including Qiaqia Food, Three Squirrels, and Liangpinpuzi, are entering the konjac snack market, indicating a competitive landscape [6][8]. Group 3: Channel Expansion - The snack industry is witnessing intense competition in the retail channel, with the Mingming Hen Mang Group surpassing 20,000 stores nationwide, prompting companies to focus on snack retail channels [10][12]. - Salted Fish Pouch has shifted its strategy to prioritize channel development, with over 70% of its revenue coming from distribution channels, including snack retail and community group buying [10][12]. - Qiaqia Food reported a significant increase in revenue from snack retail channels, growing from approximately 5 million yuan in January 2023 to around 45 million yuan in April 2024 [11][12].

Core Viewpoint - Konjac, known as "human cat strips," is becoming a phenomenon in the snack food industry, with companies like Salted Fish Pouch and Wei Long capitalizing on this trend through their konjac product lines [1][4]. Company Performance - Salted Fish Pouch's konjac snack brand "Big Demon King" generated revenue of 791 million yuan in the first half of 2025, a year-on-year increase of 155.10%, contributing significantly to the company's total revenue of 2.941 billion yuan [1][12]. - Wei Long's konjac products "Konjac Shuang" and "Little Witch" drove a 44.3% increase in the vegetable products segment to 2.109 billion yuan, accounting for 60.5% of total revenue in the first half of 2025 [7][8]. - In the first half of 2025, Salted Fish Pouch reported total revenue of 2.941 billion yuan, up 19.58% year-on-year, with a net profit of 373 million yuan, an increase of 16.70% [12][18]. Market Trends - The konjac food industry has seen a compound annual growth rate of 20% over the past decade, with the market size expected to reach 26.9 billion yuan by 2024 [5]. - More than 30 companies, including Qiaqia Food and Three Squirrels, are entering the konjac snack market, indicating a competitive landscape [14]. Channel Development - The competition among snack companies is intensifying in the offline market, with the Mingming Busy Group surpassing 20,000 stores nationwide [3][19]. - Salted Fish Pouch has shifted its strategy to prioritize channel development, emphasizing the importance of distribution channels in its growth [19]. - Qiaqia Food has also increased its investment in emerging channels like snack wholesale stores and membership stores, reflecting a broader trend in the industry [20].

Core Viewpoint - The article emphasizes the need for finance to return to its essence of serving the real economy, advocating for a "real industry over capital" approach in investment strategies [4][5]. Group 1: Resource Allocation - Capital should flow towards efficient sectors rather than short-term arbitrage opportunities, with a focus on consumer-driven economic growth as a stabilizing force [6][7]. - The investment landscape has been distorted by excessive capital inflow, leading to a focus on rapid expansion and market capture rather than sustainable business practices [8][9]. Group 2: Governance and Empowerment - The investment philosophy of the company is characterized by deep involvement in the operational aspects of the businesses it invests in, moving beyond mere financial support to strategic partnership [10][11]. - Successful case studies, such as the investment in Xiaocaiyuan, demonstrate the effectiveness of this approach, resulting in significant market achievements and returns [12][13]. Group 3: Brand Behind the Brand - The company seeks to invest in businesses with "real industry genes," focusing on consumer sectors that exhibit high-frequency demand and scalability [19][20]. - Notable investments include brands like Qiaqia Foods and Babimantou, which have become industry leaders due to their alignment with the company's investment philosophy [21][23]. Group 4: Capital's Mission - The company is positioned to play a crucial role in transitioning society towards a consumption-driven economy, emphasizing the importance of enhancing disposable income and improving living standards [28][30]. - The investment strategy aims to create social value that translates into stable economic returns, highlighting the need for a shift from being mere investors to becoming co-creators in the industries they support [31][33].

9月9日，洽洽食品跌0.47%，成交额1.83亿元。两融数据显示，当日洽洽食品获融资买入额3029.50万 元，融资偿还3127.28万元，融资净买入-97.78万元。截至9月9日，洽洽食品融资融券余额合计3.94亿 元。 截至6月30日，洽洽食品股东户数5.77万，较上期增加13.79%；人均流通股8754股，较上期减少 12.12%。2025年1月-6月，洽洽食品实现营业收入27.52亿元，同比减少5.05%；归母净利润8864.16万 元，同比减少73.68%。 分红方面，洽洽食品A股上市后累计派现46.93亿元。近三年，累计派现16.54亿元。 机构持仓方面，截止2025年6月30日，洽洽食品十大流通股东中，香港中央结算有限公司位居第二大流 通股东，持股1997.26万股，相比上期增加22.54万股。兴证全球欣越混合A（017826）位居第四大流通 股东，持股608.97万股，为新进股东。嘉实新消费股票A（001044）位居第五大流通股东，持股372.77 万股，相比上期增加57.77万股。南方中证1000ETF（512100）位居第六大流通股东，持股280.22万股， 为新进股东。广发稳健增长混合A ...

（企业公告） 此外，根据《中华人民共和国公司法》《深圳证券交易所股票上市规则》《深圳证券交易所上市公司自 律监管指引第1号——主板上市公司规范运作》等法律法规、规范性文件以及《公司章程》的相关规 定，公司于2025年9月8日召开了职工代表大会，选举张婷婷为公司第六届董事会职工代表董事，任期至 第六届董事会届满。张婷婷当选公司职工代表董事后，公司第六届董事会中兼任公司高级管理人员以及 职工代表担任的董事人数总计不超过公司董事总数的二分之一。 9月8日，洽洽食品发布公告称，公司董事、副总经理、董事会秘书陈俊近日因公司治理结构调整，申请 辞去公司董事职务，辞去上述职务后，陈俊继续在公司担任副总经理、董事会秘书等职务。陈俊原任期 至第六届董事会任期届满之日，即2026年5月12日。陈俊辞去董事职务不会导致公司董事会人数低于法 定最低人数，不会影响公司董事会正常运行，其辞职报告自送达公司董事会之日起生效。 ...

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。 为进一步加强与投资者的互动交流，洽洽食品股份有限公司（以下简称"公司"）将参加由安徽证监局指 导，安徽上市公司协会与深圳市全景网络有限公司联合举办的"2025年安徽上市公司投资者网上集体接 待日"，现将相关事项公告如下： 本次活动将采用网络远程的方式举行，投资者可登录"全景路演"网站（https://rs.p5w.net），或关注微信 公众号：全景财经，或下载全景路演APP,参与本次互动交流，活动时间为2025年9月15日（周一） 15:00-17:00。届时公司高管将在线就公司业绩、公司治理、发展战略、经营状况、融资计划、股权激励 和可持续发展等投资者关心的问题，与投资者进行沟通与交流，欢迎广大投资者踊跃参与！ 特此公告。 登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：002557 证券简称：洽洽食品 公告编号：2025-071 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参加2025年安徽辖区 上市公司投资者网上集体接待日活动的公告 洽洽食品股份有限公司董事会 二〇二五年 ...

证券代码：002557 证券简称：洽洽食品 公告编号：2025-071 债券代码：128135 债券简称：洽洽转债 洽洽食品股份有限公司 关于参加2025年安徽辖区上市公司投资者 网上集体接待日活动的公告 为进一步加强与投资者的互动交流，洽洽食品股份有限公司（以下简称"公 司"）将参加由安徽证监局指导，安徽上市公司协会与深圳市全景网络有限公司 联合举办的"2025 年安徽上市公司投资者网上集体接待日"，现将相关事项公 告如下： 本次活动将采用网络远程的方式举行，投资者可登录"全景路演"网站 （https://rs.p5w.net），或关注微信公众号：全景财经，或下载全景路演 APP, 参与本次互动交流，活动时间为 2025 年 9 月 15 日（周一）15:00-17:00。届时 公司高管将在线就公司业绩、公司治理、发展战略、经营状况、融资计划、股权 激励和可持续发展等投资者关心的问题，与投资者进行沟通与交流，欢迎广大投 资者踊跃参与！ 特此公告。 洽洽食品股份有限公司董事会 二〇二五年九月十日 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。 ...

Meeting Details - The second extraordinary general meeting of shareholders was held on September 8, 2025, with both on-site and online voting options available [2][3] - A total of 357 shareholders and authorized representatives participated, representing 225,716,896 shares, which is 45.8579% of the total voting shares [4] Voting Results - The proposal to conclude and terminate certain fundraising investment projects and to permanently supplement remaining funds into working capital was approved with 99.8634% of votes in favor [7] - The amendment to the company's articles of association was approved with 99.8651% of votes in favor [8] - The revision of the rules for shareholder meetings was approved with 99.6065% of votes in favor [10] - The revision of the rules for board meetings was approved with 99.6064% of votes in favor [12] - The amendment to the independent director's appointment and meeting system was approved with 99.5738% of votes in favor [14] - The revision of the fundraising management system was approved with 99.5691% of votes in favor [15] - The amendment to the related party transaction system was approved with 99.5687% of votes in favor [16] - The revision of the external investment management system was approved with 99.5663% of votes in favor [17] - The amendment to the external guarantee system was approved with 99.5634% of votes in favor [18] Legal Opinion - The meeting was witnessed by lawyers from Shanghai Tongli Law Firm, confirming that the meeting's procedures and voting results complied with relevant laws and regulations [20] Board Changes - Non-independent director Chen Jun resigned from his position but will continue as deputy general manager and board secretary [24] - Zhang Tingting was elected as the employee representative director, with her term lasting until the end of the sixth board's term [26]

Core Viewpoint - The announcement from Qiaqia Food indicates a governance structure adjustment with the resignation of Mr. Chen Jun from the board of directors while retaining his roles as deputy general manager and board secretary [2]. Group 1 - Mr. Chen Jun applied for resignation from the position of director due to the company's governance structure adjustment [2]. - The company held an employee representative meeting on September 8, 2025, to elect Ms. Zhang Tingting as the employee representative director for the sixth board of directors, with a term lasting until the board's term ends [2].