Investment Rating - The report maintains a "Recommended" rating for the company [2][3]. Core Views - The company reported a significant improvement in performance for Q3 2024, with revenue reaching 4.76 billion yuan, a year-on-year increase of 6.2%, and a net profit attributable to shareholders of 630 million yuan, up 23.8% year-on-year [1]. - The company has successfully implemented multiple adjustments, leading to a return to positive revenue growth in Q3 2024, despite a still subdued terminal demand [1]. - The cost advantages from raw materials continue to enhance profitability, with a net profit margin of 15.6% in Q3 2024, an increase of 2.3 percentage points year-on-year [1]. - The company is expected to benefit from the upcoming peak season in Q4, particularly during the Spring Festival, with anticipated continued price declines in raw materials [1]. Summary by Sections Financial Performance - For the first three quarters of 2024, the company achieved revenue of 4.76 billion yuan, with a net profit of 630 million yuan and a non-recurring net profit of 560 million yuan, reflecting year-on-year growth rates of 6.2%, 23.8%, and 31.4% respectively [1]. - In Q3 2024, revenue was 1.86 billion yuan, a 3.7% increase year-on-year, with a net profit of 290 million yuan, up 21.4% year-on-year [1]. Strategic Initiatives - The company has adopted several strategies to address industry challenges, including promotional activities for its blue bag product line, enhancing product distribution in bulk channels, and expanding its overseas market presence [1]. - The company is focusing on balancing high quality, strong branding, and cost-effectiveness, which is expected to yield positive results in the upcoming festive season [1]. Profitability Outlook - The gross profit margin for Q3 2024 was 33.1%, an increase of 6.3 percentage points year-on-year, primarily due to a significant drop in raw material prices [1]. - The report forecasts net profits for 2024, 2025, and 2026 to be 1.0 billion yuan, 1.15 billion yuan, and 1.3 billion yuan respectively, with corresponding EPS of 2.0 yuan, 2.3 yuan, and 2.6 yuan [2][7].

Investment Rating - The report maintains a "Buy" rating for the company, indicating a positive outlook for its stock performance in the near term [6]. Core Views - The company reported a revenue of 4.758 billion yuan for the first three quarters of 2024, reflecting a year-on-year growth of 6.24%. The net profit attributable to shareholders reached 626 million yuan, up 23.79% year-on-year, and the net profit excluding non-recurring items was 558 million yuan, increasing by 31.44% [6]. - The revenue for Q3 2024 is estimated at 1.859 billion yuan, with a year-on-year growth of 3.72%, while the net profit attributable to shareholders is projected to be 289 million yuan, up 21.4% year-on-year [6]. - The company is expected to maintain its profit forecasts for 2024-2026, with projected net profits of 929 million yuan, 1.127 billion yuan, and 1.281 billion yuan, respectively, representing year-on-year growth rates of 16%, 21%, and 14% [6]. Summary by Relevant Sections Market Data - Closing price: 31.11 yuan - One-year high/low: 38.72/23.67 yuan - Market capitalization: 15,739 million yuan [2]. Financial Performance - The company achieved a gross margin of 33.11% in Q3 2024, an increase of 6.31 percentage points year-on-year and 8.13 percentage points quarter-on-quarter, primarily due to a decrease in raw material costs [6]. - The overall net profit margin improved by 2.25 percentage points to 15.56% in Q3 2024 [6]. Revenue and Profit Forecast - Total revenue for 2024 is projected to be 7.486 billion yuan, with a year-on-year growth rate of 10% [7]. - The earnings per share (EPS) for 2024 is estimated at 1.83 yuan, with a corresponding price-to-earnings (PE) ratio of 17 times [6][7].

Financial Performance - Q3 2024 revenue reached ¥1,859,297,019.53, an increase of 3.72% year-over-year[2] - Net profit attributable to shareholders was ¥289,408,064.76, up 21.40% compared to the same period last year[2] - Net profit excluding non-recurring items was ¥274,759,217.91, reflecting a 22.24% increase year-over-year[2] - Basic earnings per share rose to ¥0.5716, representing a 21.57% increase from the same period last year[2] - Total operating revenue for Q3 2024 reached CNY 4,757,630,667.36, an increase of 6.24% compared to CNY 4,478,318,042.53 in the same period last year[15] - The net profit for Q3 2024 reached CNY 626.26 million, a 23.7% increase from CNY 506.19 million in Q3 2023[16] - Operating profit for the quarter was CNY 725.79 million, up 37.4% from CNY 528.31 million year-over-year[16] - Total revenue from sales of goods and services amounted to CNY 5.35 billion, compared to CNY 5.25 billion in the same period last year, reflecting a growth of 1.9%[18] - Basic earnings per share increased to CNY 1.2292, up from CNY 0.9996 in Q3 2023, representing a growth of 22.9%[17] - The total comprehensive income attributable to the parent company was CNY 695.62 million, compared to CNY 527.84 million in Q3 2023, marking a 31.8% increase[17] - The company's total profit for the quarter was CNY 795.05 million, an increase of 31.6% from CNY 604.24 million in Q3 2023[16] Cash Flow and Liquidity - Cash flow from operating activities for the year-to-date was ¥1,235,464,123.83, a significant increase of 48.22% compared to the previous year[2] - Cash flow from operating activities generated CNY 1.24 billion, significantly higher than CNY 833.55 million in the same quarter last year, indicating a growth of 48.7%[18] - The company reported cash and cash equivalents of RMB 5,482,204,651.55, an increase from RMB 4,478,314,611.84 in the previous period, reflecting a growth of approximately 22.3%[12] - The ending balance of cash and cash equivalents reached 5,251,716,140.06 CNY, compared to 4,546,081,911.31 CNY at the same time last year[19] - The net increase in cash and cash equivalents was 899,766,764.41 CNY, down from 1,526,620,292.83 CNY year-over-year[19] - Cash inflow from financing activities totaled 1,619,982,954.35 CNY, compared to 1,434,000,000.00 CNY last year, marking an increase of approximately 12.9%[19] - Cash outflow for financing activities increased to 1,965,399,756.81 CNY from 1,294,735,043.20 CNY, representing a rise of about 52%[19] - The net cash flow from financing activities was -345,416,802.46 CNY, a significant decline from 139,264,956.80 CNY in the previous year[19] Assets and Liabilities - Total assets decreased by 2.58% to ¥9,155,906,500.61 compared to the end of the previous year[2] - The company's total assets as of Q3 2024 were CNY 9,155,906,500.61, a decrease from CNY 9,398,773,153.02 in the previous year[14] - Current liabilities totaled CNY 2,128,852,189.47, down from CNY 2,331,348,005.39, indicating a reduction of 8.66%[14] - Non-current liabilities decreased to CNY 1,466,293,411.95 from CNY 1,534,905,567.81, a decline of 4.47%[14] - Inventory levels were reported at CNY 631,596,146.71, compared to CNY 1,623,301,114.96 in the previous year, indicating a significant reduction[13] Shareholder Information - The total number of common shareholders at the end of the reporting period is 26,760, with Hefei Huatai Group holding 42.47% of shares, amounting to 215,323,643 shares[7] - Hefei Huatai Group has pledged 18,000,000 shares, indicating a significant portion of their holdings is under collateral[7] - The top ten shareholders collectively hold a significant portion of the company, with the largest shareholder alone holding over 42%[9] - The company’s stock repurchase account holds 8,966,469 shares, which are not included in the top ten shareholders list[9] Expenses and Investments - The company experienced a 31.77% increase in financial expenses, mainly due to reduced foreign exchange gains[6] - Research and development expenses rose to CNY 47.17 million, a 9.7% increase from CNY 43.09 million in the previous year[16] - The investment income increased to CNY 18.10 million, compared to CNY 16.96 million in the previous year, reflecting a growth of 6.7%[16] Future Outlook - Future outlook includes potential market expansion and new product development, although specific figures were not disclosed in the report[15] Other Information - The company plans to implement a stock option incentive plan, approved in the recent board meetings, to enhance employee motivation and retention[10] - The Vice Chairman and General Manager, Chen Qi, has increased her shareholding by 1,437,300 shares, representing 0.28% of the total share capital, with a total investment of RMB 37,428,147.00[11] - The company has not reported any changes in the participation of major shareholders in margin trading activities[10] - The third quarter report was not audited[20]

证券代码：002557 证券简称：洽洽食品 公告编号：2024-064 债券代码：128135 债券简称：洽洽转债 洽洽食品股份有限公司 可转换公司债券 2024 年付息公告 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。 特别提示： 1、"洽洽转债"将于 2024 年 10 月 21 日按面值支付第四年利息，每 10 张 "洽洽转债"（合计面值 1,000.00 元）利息为 15.00 元（含税）。 3、除息日：2024 年 10 月 21 日。 4、付息日：2024 年 10 月 21 日。 5、"洽洽转债"票面利率：第一年 0.30%、第二年 0.60%、第三年 1.00%、 第四年 1.50%、第五年 1.80%、第六年 2.00%。 6、"洽洽转债"本次付息的债权登记日为 2024 年 10 月 18 日，凡在 2024 年 10 月 18 日（含）前买入并持有本期债券的投资者享有本次派发的利息；2024 年 10 月 18 日卖出本期债券的投资者不享有本次派发的利息。 7、下一付息期起息日：2024 年 10 月 20 日。 8、下一付息期利率：1 ...

| 证券代码：002557 | 证券简称：洽洽食品 | 公告编号：2024-063 | | --- | --- | --- | | 债券代码：128135 | 债券简称：洽洽转债 | | 洽洽食品股份有限公司 关于副董事长兼副总经理增持股份计划时间过半的进展公告 副董事长兼副总经理陈奇女士保证向公司提供的信息内容真实、准确和 完整，没有虚假记载、误导性陈述或重大遗漏。 本公司及董事会全体成员保证公告内容与信息披露义务人提供的信息一 致。 重要内容提示： 1、增持计划的基本情况：洽洽食品股份有限公司（以下简称"公司"）于 2024年7月13日披露《关于副董事长兼副总经理增持公司股份及后续增持计划的 公告》（公告编号：2024-046），公司副董事长兼副总经理陈奇女士自首次增持 日2024年7月12日起6个月内通过深圳证券交易所集中竞价方式增持公司股份，增 持金额不低于人民币3,000万元，不超过人民币5,000万元（含首次增持股份成交 金额3,028,805.00元）。增持计划实施期间，如遇公司股票停牌，增持计划将在 股票复牌后顺延实施并及时披露。 2、增持计划的进展情况：截至本公告披露日，本次增持计划实施时间 ...

上海市通力律师事务所 24SH7200121/DCY/cj/cm/D48 在此基础上, 本所律师出具法律意见如下: 一. 关于本次股东大会的召集、召开程序 关于洽洽食品股份有限公司 2024 年第一次临时股东大会的法律意见书 致: 洽洽食品股份有限公司 上海市通力律师事务所(以下简称"本所")接受洽洽食品股份有限公司(以下简称"公 司")的委托, 指派本所陈杨、卓海萍律师(以下简称"本所律师")根据《中华人民共和国公 司法》《中华人民共和国证券法》《上市公司股东大会规则》等法律法规和规范性文件(以下 统称"法律法规")及《洽洽食品股份有限公司章程》(以下简称"公司章程")的规定就公 司 2024 年第一次临时股东大会(以下简称"本次股东大会")相关事宜出具法律意见。 本所律师已经对公司提供的与本次股东大会有关的法律文件及其他文件、资料予以了 核查、验证。在进行核查验证过程中, 公司已向本所保证, 公司提供予本所之文件中的所有 签署、盖章及印章都是真实的, 所有作为正本提交给本所的文件都是真实、准确、完整和有 效的, 且文件材料为副本或复印件的, 其与原件一致和相符。 在本法律意见书中, 本所仅对本次股东大会召 ...

证券代码：002557 证券简称：洽洽食品 公告编号：2024-060 债券代码：128135 债券简称：洽洽转债 洽洽食品股份有限公司 2024年第一次临时股东大会决议公告 （2）网络投票时间：2024 年 10 月 8 日；其中，通过深圳证券交易所交易 系统进行网络投票的具体时间为2024年10月8日上午9:15—9:25，9:30-11:30， 下午 13:00-15:00；通过深圳证券交易所互联网投票系统进行网络投票的具体时 间为 2024 年 10 月 8 日 9:15-15:00 期间的任意时间。 2、现场会议地点：安徽省合肥经济技术开发区莲花路 1307 号公司四楼会 议室； 3、表决方式：现场投票、网络投票； 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。 特别提示： 1、本次股东大会未出现否决议案的情形； 2、本次股东大会不涉及变更以往股东大会已通过的决议。 一、会议召开和出席情况 （一）会议召开情况 1、召开时间： （1）现场会议时间：2024 年 10 月 8 日（星期二）下午 15:00； 4、会议召集人：公司董事会； 5、会议主持人： ...

1、核查对象为本次激励计划的内幕信息知情人及激励对象（简称"核查对 象"）。 关于公司 2024 年股票期权激励计划内幕信息知情人 及激励对象买卖公司股票情况的自查报告 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。 洽洽食品股份有限公司（以下简称"公司"）于 2024 年 9 月 18 日召开第六 届董事会第十次会议及第六届监事会第九次会议，审议通过了《关于公司<2024 年股票期权激励计划（草案）>及其摘要的议案》等议案。具体内容详见公司于 2024 年 9 月 19 日披露于巨潮资讯网（http://www.cninfo.com.cn）的相关公告。 根据《上市公司股权激励管理办法》（以下简称"《管理办法》"）、《深圳证券 交易所上市公司自律监管指南第 1 号——业务办理》（以下简称"《自律监管指南 第 1 号》"）等法律、法规和规范性文件的规定，通过向中国证券登记结算有限责 任公司深圳分公司查询，公司对 2024 年股票期权激励计划（以下简称"本次激 励计划"）的内幕信息知情人在本激励计划草案首次披露前 6 个月内（即 2024 年 3 月 18 日—— ...

洽洽食品股份有限公司 关于2024年第三季度可转债转股情况的公告 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。 特别提示： 根据《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 15 号——可转换公司债券》的有关规定，洽洽食品股份有限公司（以下 简称"公司"）现将 2024 年第三季度可转换公司债券（以下简称"可转债"）转 股及公司股份变动情况公告如下： 一、可转债发行上市基本情况 证券代码：002557 证券简称：洽洽食品 公告编号：2024-061 债券代码：128135 债券简称：洽洽转债 2022 年 6 月 22 日，公司实施 2021 年年度权益分派方案。根据《洽洽食品 股份有限公司公开发行可转换公司债券募集说明书》发行条款的有关规定，当公 司发生派送红股、转增股本、增发新股或配股以及派发现金股利等情况（不包括 因本次发行的可转换公司债券转股增加的股本）使公司股份发生变化时，应对转 股价格进行调整。"洽洽转债"的转股价格由 60.03 元/股调整为 59.18 元/股， 调整后的转股价格自 2022 年 6 月 22 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 证券代码：002557 证券简称：洽洽食品 公告编号：2024-062 债券代码：128135 债券简称：洽洽转债 洽洽食品股份有限公司 股票交易异常波动公告 4、公司、控股股东和实际控制人不存在关于公司的应披露而未披露的重大 事项，亦无处于筹划阶段的重大事项； 5、公司控股股东和实际控制人在公司股票异常波动期间不存在买卖公司股 票的情况。 三、是否存在应披露而未披露信息的说明 公司董事会确认，公司目前没有任何根据深交所《股票上市规则》等有关规 定应予以披露而未披露的事项或与该事项有关的筹划、商谈、意向、协议等；公 司董事会也未获悉公司有根据深交所《股票上市规则》等有关规定应予以披露而 未披露的、对公司股票交易价格产生较大影响的信息；公司前期披露的信息不存 在需要更正、补充之处。 完整，没有虚假记载、误导性陈述或重大遗漏。 一、股票交易异常波动的情况介绍 洽洽食品股份有限公司（以下简称"公司"）股票（证券简称：洽洽食品， 证券代码：002557）于 2024 年 9 月 27 日、2024 年 9 月 30 日、2024 年 10 月 8 日连续三个交易日 ...