证券代码：002695 证券简称：煌上煌 编号：2024—019 江西煌上煌集团食品股份有限公司 2023年度股东大会决议公告 本公司及董事会全体成员保证公告内容真实、准确和完整，没有虚假记 载、误导性陈述或者重大遗漏。 特别提示： 1、本次股东大会期间没有增加、否决或变更议案的情况发生； 2、本次股东大会不涉及变更以往股东大会决议的情况； 3、本次股东大会采取现场投票和网络投票相结合的方式。 一、会议通知情况 公司于 2024 年 3 月 30 日在《中国证券报》《证券时报》《上海证券报》《证 券日报》和巨潮资讯网站（http://www.cninfo.com.cn）刊登了《关于召开 2023 年 度股东大会的通知》。 二、会议召开情况 （一）会议召集人：公司董事会。 （二）会议召开的日期、时间： （1）现场会议：2024 年 4 月 22 日（星期一）下午 14：30 （2）网络投票时间：2024 年 4 月 22 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 4 月 22 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 ...

北京市盈科（南昌）律师事务所 南昌市红谷滩新区红谷中大道 998 号绿地中央广场 A1 楼 56 层 电话: 0791-83810555 北京市盈科（南昌）律师事务所 关于江西煌上煌集团食品股份有限公司 2023 年度股东大会法律意见书 致：江西煌上煌集团食品股份有限公司 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》《深圳证券交易所上市公司股东大会网络投票实施细则》等我国现行 有关法律、法规、规范性文件以及江西煌上煌集团食品股份有限公司 （以下简 称"公司"）《公司章程》的规定，北京市盈科（南昌）律师事务所(以下简称 "本所")接受公司的委托，指派律师出席公司于 2024 年 4 月 22 日召开的 2023 年度股东大会（以下简称"本次股东大会"），对公司本次股东大会的召集和召 开程序、召集人、出席会议人员的资格、表决程序和表决结果的合法性、有效性 等进行了认真的审查，出具本法律意见书。 传真: 0791-83810333 事实真实、准确、完整，所发表的结论性意见合法，准确，不存在虚假记载、误 导性陈述或者重大遗漏，并承担相应法律责任。 本法律意见书仅供公司为本次股东大会之 ...

投资建议：公司作为"卤味第一股"，深耕行业多年，坚持"千城万店"战略， 优化门店结构，深化"1+N""两卖一长"的线上+线下结合经营模式，推动 单店业绩提升。预计公司在"531"长中期规划下，公司 2024-2026 年实现营 收 22.85/26.95/30.74 亿元，分别同比增长 19%/18%/14%；实现归母净利润 1.4/1.9/2.52 亿元，分别同比增长 98%/36%/32%；对应 PE 估值分别为 33/24/18X，维持"买入"评级。 资产负债表（百万元） 利润表（百万元） 会计年度 2022A 2023A 2024E 2025E 2026E 会计年度 2022A 2023A 2024E 2025E 2026E 流动资产 1828 1986 2115 2475 2773 营业收入 1954 1921 2285 2695 3074 现金 1026 1128 1143 1348 1537 营业成本 1404 1363 1565 1811 2030 应收票据及应收账款 77 40 91 125 143 营业税金及附加 15 19 20 23 28 其他应收款 17 20 19 21 21 销售 ...

公 司 研 究 开 源 证 券 证 券 研 究 报 告 公司信息更新报告 《证券期货投资者适当性管理办法》、《证券经营机构投资者适当性管理实施指引（试行）》已于2017年7月1日起正 式实施。根据上述规定，开源证券评定此研报的风险等级为R3（中风险），因此通过公共平台推送的研报其适用的 投资者类别仅限定为专业投资者及风险承受能力为C3、C4、C5的普通投资者。若您并非专业投资者及风险承受能 力为C3、C4、C5的普通投资者，请取消阅读，请勿收藏、接收或使用本研报中的任何信息。 因此受限于访问权限的设置，若给您造成不便，烦请见谅！感谢您给予的理解与配合。 本报告是基于本公司认为可靠的已公开信息，但本公司不保证该等信息的准确性或完整性。本报告所载的资料、工 具、意见及推测只提供给客户作参考之用，并非作为或被视为出售或购买证券或其他金融工具的邀请或向人做出邀 请。本报告所载的资料、意见及推测仅反映本公司于发布本报告当日的判断，本报告所指的证券或投资标的的价格、 价值及投资收入可能会波动。在不同时期，本公司可发出与本报告所载资料、意见及推测不一致的报告。客户应当 考虑到本公司可能存在可能影响本报告客观性的利益冲突，不 ...

Investment Rating - The report maintains a "Buy" investment rating for the company [7][9]. Core Views - The company has shown significant year-on-year growth in performance, primarily due to cost reduction and decreased expenses [5]. - The "Thousand Cities, Ten Thousand Stores" strategy is steadily advancing, indicating a turning point in operational efficiency [6]. - Short-term same-store revenue is slightly pressured by external consumer environment factors, but the company is expected to return to a positive operational trajectory starting in 2024, with rapid store expansion and increasing concentration [7]. Financial Summary - For 2023, the company's revenue was 1.921 billion yuan, a decrease of 1.7% year-on-year, while the net profit attributable to shareholders was 71 million yuan, an increase of 129.1% year-on-year [22]. - The company’s gross margin for 2023 was 29.06%, up 0.9 percentage points year-on-year, and the net margin was 3.45%, up 2.46 percentage points year-on-year [22]. - The company’s operating cash flow for 2023 was 218 million yuan, a decrease of 43% [22]. - The number of stores reached 4,497 by the end of 2023, with a mix of 262 direct-operated and 4,235 franchised stores [23]. Earnings Forecast - The forecasted earnings per share (EPS) for 2024 and 2025 are 0.25 yuan and 0.33 yuan, respectively, with corresponding price-to-earnings (PE) ratios of 33 and 25 times [7]. - The projected revenue for 2024 is 2.270 billion yuan, representing an 18.2% growth rate, and the net profit is expected to reach 141 million yuan, reflecting a 100.5% growth rate [12].

Financial Performance - The company's operating revenue for 2023 was CNY 1,920,549,123, a decrease of 1.70% compared to CNY 1,953,725,630 in 2022[22]. - The net profit attributable to shareholders for 2023 was CNY 30,816,209.84, representing a significant increase of 129.01% from CNY 13,487,502.77 in 2022[22]. - The net cash flow from operating activities decreased by 43.34% to CNY 217,971,643.41 from CNY 384,693,617 in 2022[22]. - Basic and diluted earnings per share for 2023 were CNY 0.124, up 106.67% from CNY 0.060 in 2022[22]. - Total assets increased by 12.00% to CNY 3,361,303,095 from CNY 2,996,738,186 at the end of 2022[23]. - The net assets attributable to shareholders rose by 19.17% to CNY 2,793,764,525 from CNY 2,344,885,369 in 2022[23]. - The company reported a quarterly operating revenue of CNY 511,512,105.35 in Q1 2023, CNY 635,253,871.36 in Q2, CNY 433,844,592.63 in Q3, and CNY 339,938,553.81 in Q4[29]. - The net profit attributable to shareholders in Q4 2023 was a loss of CNY 30,290,916.00, contrasting with profits in the earlier quarters[29]. - The company reported a significant loss from the disposal of non-current assets amounting to ¥547.32 million in 2023[31]. - The company's total revenue for 2023 was ¥22.14 billion, down 16.4% from ¥26.57 billion in 2022[32]. Dividend and Shareholder Communication - The company plans to distribute a cash dividend of 1.80 RMB per 10 shares to all shareholders based on a total share capital of 556,947,081 shares as of the end of 2023[4]. - The company emphasizes that the future operational plans and performance forecasts mentioned in the report do not constitute a substantive commitment to investors, highlighting the need for risk awareness[4]. - The company has a dedicated investor relations team to facilitate communication with shareholders and stakeholders[19]. - The company's financial disclosures are available on the Shenzhen Stock Exchange and other designated media, ensuring accessibility for investors[20]. Business Operations and Stability - The company has not reported any changes in its main business since its listing, indicating stability in its operations[21]. - The company has not reported any changes in its controlling shareholders, indicating stability in ownership[21]. - The company has maintained its full ownership of subsidiaries, including Guangdong Huangshanghuang and Fujian Huangshanghuang, ensuring control over its operations[16]. - The company’s operational headquarters remains in Nanchang, Jiangxi Province, maintaining its central management location[18]. - The company has implemented changes in accounting policies effective January 1, 2023, impacting deferred tax assets and liabilities[25]. Market and Industry Trends - The Chinese marinated food market size grew from ¥233 billion in 2018 to ¥369.1 billion in 2022, with a compound annual growth rate of 12.3%[38]. - The industry is experiencing a shift towards brand consolidation, with opportunities for leading brands to expand due to market reshuffling[39]. - The marinated food industry is expected to benefit from rising consumer spending and the ongoing supply-side reforms in China[39]. - The industry is projected to see increased market concentration as consumer preferences shift towards branded and chain-operated businesses[38]. Product Development and Innovation - The company aims to enhance product innovation and development to cater to diverse consumer needs, including small packaging and high-value products[40]. - The company has developed over 200 products, focusing on convenience and nutrition, including various marinated meat products and rice-based items[41]. - The company is committed to continuous improvement in food safety and quality through regular audits and certifications[46]. - The company is actively engaged in environmental management, as evidenced by its wastewater discharge permits and pollution source registration[46]. Marketing and Sales Strategy - The company achieved an online transaction volume (GMV) of 471 million yuan in 2023, with online sales accounting for 20.76% of total revenue[58]. - The company is focusing on expanding its terminal sales channels, particularly in highway service areas in Zhejiang and Jiangsu provinces[53]. - The company has established partnerships with 395 leading brands, enhancing its marketing reach and brand visibility through various promotional activities[51]. - The company has implemented a fresh cooking sales model in its stores, enhancing consumer experience and product appeal[53]. Financial Management and Fund Utilization - The company has established a dedicated account system for managing the raised funds to ensure compliance and efficient use[123]. - The total amount of funds raised in 2023 through a targeted issuance of shares was approximately RMB 449.99 million, with a net amount of RMB 441.54 million after deducting issuance costs[121]. - The company has reported no securities or derivative investments during the reporting period[116][117]. - The company aims to enhance the efficiency of fund usage and protect shareholder interests through strict management practices[123]. Governance and Compliance - The company maintains independence from its controlling shareholders in terms of assets, business, finance, personnel, and institutions, complying with relevant regulations[169]. - The board of directors consists of 9 members, including 3 independent directors, ensuring compliance with legal requirements[166]. - The company has established specialized committees within the board, including strategy, audit, nomination, and remuneration committees, to enhance governance[166]. - The company emphasizes information disclosure and investor relations, ensuring timely and accurate communication with all investors[168]. Future Outlook and Growth Plans - The company plans to expand its market presence in Southeast Asia, targeting a 20% growth in international sales by 2025[189]. - The company aims to achieve a revenue of 2.35 billion yuan and a net profit of 140 million yuan in 2024, indicating a growth target for both metrics[150]. - The company is exploring potential mergers and acquisitions to strengthen its market position and diversify its product offerings[177]. - The company anticipates a revenue growth of approximately 15% for the upcoming fiscal year, driven by new product launches and market expansion strategies[177].

证券代码：002695 证券简称：煌上煌 编号：2024—012 江西煌上煌集团食品股份有限公司 第六届监事会第五次会议决议公告 本公司及监事会全体成员保证公告内容真实、准确和完整，没有虚假记 载、误导性陈述或者重大遗漏。 一、监事会会议召开情况 江西煌上煌集团食品股份有限公司(以下简称"公司")第六届监事会第五次 会议通知于 2024 年 3 月 18 日以专人送达、微信通知的方式通知全体监事及高 管。本次会议于 2024 年 3 月 28 日在公司会议室以现场会议方式召开。本次会议 应到监事 3 人，实到监事 3 人，全体监事均亲自出席会议。符合《中华人民共和 国公司法》的规定和《公司章程》的要求。本次会议由监事会主席黄菊保先生召 集并主持，总经理褚浚先生，副总经理褚剑先生、范旭明先生和副总经理、财务 总监兼董事会秘书曾细华先生等高管列席了本次会议。本次监事会会议的召开符 合有关法律、行政法规、部门规章、规范性文件和《公司章程》的规定。 二、监事会会议审议情况 1、审议通过《2023 年度监事会工作报告》 2023 年度，公司监事会全体监事严格按照《公司法》《证券法》《公司章程》 及《监事会议事规则》和有 ...

证券代码：002695 证券简称：煌上煌 编号：2024—014 江西煌上煌集团食品股份有限公司 关于 2023 年募集资金存放与使用情况的专项报告 本公司及董事会全体成员保证公告内容真实、准确和完整，没有虚假记载、误 导性陈述或者重大遗漏。 根据中国证券监督管理委员会《上市公司监管指引第 2 号——上市公司募集资 金管理和使用的监管要求（2022 年修订）》（证监会公告〔2022〕15 号）、《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》以及《深圳证券交 易所上市公司自律监管指南第 2 号——公告格式》的相关规定，江西煌上煌集团食品 股份有限公司（以下简称"公司"或"本公司"）就 2023 年度募集资金存放与使用情 况作如下专项报告： 一、募集资金基本情况 （一）实际募集资金金额和资金到账时间 1、2012 年首次公开发行股票 根据公司 2011 年第二次临时股东大会决议，并经中国证券监督管理委员会证监 许可[2012]944 号文《关于核准江西煌上煌集团食品股份有限公司首次公开发行股票 的批复》核准，公司向社会公开发行人民币普通股（A 股）3,098 万股，每股发行价 格为人民 ...

江西煌上煌集团食品股份有限公司 募集资金存放与使用情况鉴证报告 2023 年度 关于江西煌上煌集团食品股份有限公司 2023年度募集资金存放与使用情况 专项报告的鉴证报告 信会师报字[2024]第ZA10419号 江西煌上煌集团食品股份有限公司全体股东： 我们接受委托，对后附的江西煌上煌集团食品股份有限公司（以 下简称"江西煌上煌公司"）2023年度募集资金存放与使用情况专项报 告（以下简称"募集资金专项报告"）执行了合理保证的鉴证业务。 一、董事会的责任 江西煌上煌公司董事会的责任是按照中国证券监督管理委员会 《上市公司监管指引第2号——上市公司募集资金管理和使用的监管 要求（2022年修订）》（证监会公告〔2022〕15号）、《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》以及 《深圳证券交易所上市公司自律监管指南第2号——公告格式》的相 关规定编制募集资金专项报告。这种责任包括设计、执行和维护与募 集资金专项报告编制相关的内部控制，确保募集资金专项报告真实、 准确、完整，不存在虚假记载、误导性陈述或重大遗漏。 二、注册会计师的责任 我们的责任是在执行鉴证工作的基础上对募集资金专项报 ...

江西煌上煌集团食品股份有限公司 审计报告及财务报表 二○二三年度 江西煌上煌集团食品股份有限公司 审计报告及财务报表 （2023 年 01 月 01 日至 2023 年 12 月 31 日止） | | 目录 | 页次 | | --- | --- | --- | | 一、 | 审计报告 | 1-6 | | 二、 | 财务报表 | | | | 合并资产负债表和母公司资产负债表 | 1-4 | | | 合并利润表和母公司利润表 | 5-6 | | | 合并现金流量表和母公司现金流量表 | 7-8 | | | 合并所有者权益变动表和母公司所有者权益变动表 | 9-12 | | | 财务报表附注 | 1-116 | 审计报告 信会师报字[2024]第 ZA10417 号 江西煌上煌集团食品股份有限公司全体股东： 一、 审计意见 我们审计了江西煌上煌集团食品股份有限公司（以下简称江西煌 上煌）财务报表，包括 2023 年 12 月 31 日的合并及母公司资产负债 表，2023 年度的合并及母公司利润表、合并及母公司现金流量表、 合并及母公司所有者权益变动表以及相关财务报表附注。 我们认为，后附的财务报表在所有重大方面按照 ...