（文章来源：证券日报） 证券日报网讯 9月16日晚间，煌上煌发布公告称，公司于2025年8月11日召开的第六届董事会第十六次 会议及2025年8月28日召开的2025年第二次临时股东大会，审议通过了《关于收购福建立兴食品股份有 限公司控股权的议案》。同意公司与福建立兴食品股份有限公司（简称"立兴食品"）股东林解本、王永 和、郭树松、赵志坚、林建清、华安县晟兴投资合伙企业（有限合伙）及华安县众立投资合伙企业（有 限合伙）签订《股权转让协议》，受让上述股东持有的立兴食品合计51%的股权，股权交易价格为49， 470.00万元人民币。收购完成后，公司将持有立兴食品51%的股权，立兴食品将成为公司的控股子公 司，并纳入公司合并报表范围。公司已依据股份转让协议支付第一期转让款项，且立兴食品已于2025年 9月15日在漳州市市场监督管理局完成相关工商变更登记手续。 ...

Market Overview - The leisure food sector increased by 0.94% on September 16, with Wancheng Group leading the gains [1] - The Shanghai Composite Index closed at 3861.87, up 0.04%, while the Shenzhen Component Index closed at 13063.97, up 0.45% [1] Top Performers - Wancheng Group (300972) closed at 173.03, up 3.30% with a trading volume of 35,500 lots and a transaction value of 610 million [1] - Ziyan Food (603057) closed at 22.08, up 2.03% with a trading volume of 36,600 lots [1] - Guifaxiang (002820) closed at 13.26, up 2.00% with a trading volume of 158,500 lots [1] Underperformers - Ganyuan Food (002991) closed at 57.10, down 0.63% with a trading volume of 11,500 lots [2] - Jinzai Food (003000) closed at 12.34, down 0.48% with a trading volume of 36,300 lots [2] - Guangzhou Restaurant (603043) closed at 17.70, down 0.39% with a trading volume of 67,900 lots [2] Capital Flow - The leisure food sector experienced a net outflow of 4.44 million from institutional investors, while retail investors saw a net outflow of 31.84 million [2] - Speculative funds had a net inflow of 36.29 million [2] Individual Stock Capital Flow - Wancheng Group had a net inflow of 59.33 million from institutional investors, accounting for 9.73% of its total [3] - Guifaxiang saw a net inflow of 13.49 million from institutional investors, representing 6.45% [3] - Ziyan Food had a net inflow of 4.86 million from speculative funds, accounting for 3.78% [3]

北京商报讯（记者 郭秀娟 实习记者 王悦彤） 9月16日，煌上煌发布公告称，公司已完成收购福建立兴 食品股份有限公司（以下简称"立兴食品"）51%股权的首期款项支付，立兴食品亦于2025年9月15日在 漳州市市场监督管理局完成工商变更登记。 此前，公司于2025年8月11日召开的第六届董事会第十六次会议及2025年8月28日召开的2025年第二次临 时股东大会审议通过了《关于收购福建立兴食品股份有限公司控股权的议案》，同意与立兴食品股东林 解本、王永和、郭树松、赵志坚、林建清、华安县晟兴投资合伙企业（有限合伙）及华安县众立投资合 伙企业（有限合伙）签订《股权转让协议》，以约4.95万元人民币受让上述股东持有的立兴食品合计 51%股权。收购完成后，立兴食品将成为煌上煌的控股子公司，并纳入公司合并报表范围。 ...

证券代码：002695 证券简称：煌上煌 编号：2025—037 江西煌上煌集团食品股份有限公司 关于收购福建立兴食品股份有限公司控股权的进展公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚 假记载、误导性陈述或者重大遗漏。 一、对外投资概述 公司于 2025 年 8 月 11 日召开的第六届董事会第十六次会议及 2025 年 8 月 28 日召开的 2025 年第二次临时股东大会，审议通过了《关于收购福建立兴食品 股份有限公司控股权的议案》。同意公司与福建立兴食品股份有限公司（以下简 称"立兴食品"）股东林解本、王永和、郭树松、赵志坚、林建清、华安县晟兴 投资合伙企业（有限合伙）及华安县众立投资合伙企业（有限合伙）签订《股权 转让协议》，受让上述股东持有的立兴食品合计 51%的股权，股权交易价格为 49,470.00 万元人民币。收购完成后，公司将持有立兴食品 51%的股权，立兴食 品将成为公司的控股子公司，并纳入公司合并报表范围，具体内容详见公司于 2025 年 8 月 12 日在指定信息披露媒体披露的《关于收购福建立兴食品股份有限 公司控股权的公告》（公告编号：2025-033）。 ...

融券方面，煌上煌9月15日融券偿还1.25万股，融券卖出0.00股，按当日收盘价计算，卖出金额0.00元； 融券余量9000.00股，融券余额12.02万元，低于近一年30%分位水平，处于低位。 资料显示，江西煌上煌集团食品股份有限公司位于江西省南昌市南昌县小蓝经济开发区洪州大道66号， 成立日期1999年4月1日，上市日期2012年9月5日，公司主营业务涉及酱卤肉制品及佐餐凉菜快捷消费食 品的开发、生产和销售。主营业务收入构成为：鲜货产品60.71%，米制品业务31.67%，屠宰加工 4.12%，包装产品1.97%，其他(补充)1.49%，检测业务0.04%。 截至9月10日，煌上煌股东户数4.12万，较上期增加13.74%；人均流通股12396股，较上期减少12.08%。 2025年1月-6月，煌上煌实现营业收入9.84亿元，同比减少7.19%；归母净利润7691.99万元，同比增长 26.90%。 9月15日，煌上煌跌2.34%，成交额2.11亿元。两融数据显示，当日煌上煌获融资买入额2752.54万元， 融资偿还2316.10万元，融资净买入436.44万元。截至9月15日，煌上煌融资融券余额合计2. ...

| 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 002695 | 煌上煌 | 13.35 | -2.34% | 15.67万 | 2.11亿 | | 300972 | 万辰集团 | 167.50 | -1.73% | 2.67万 | 4.50亿 | | 603057 | 紫燕食品 | 21.64 | -1.55% | 2.83万 | 6166.08万 | | 603697 | 有友食品 | 12.15 | -1.22% | 8.32万 | 1.02亿 | | 002719 | 麦脚尔 | 9.50 | -0.94% | 6.30万 | 6005.37万 | | 001219 | 青岛食品 | 14.31 | -0.83% | 2.63万 | 3787.05万 | | 002582 | 好想你 | 10.10 | -0.79% | 8.85万 | 8935.85万 | | 300783 | 三只松鼠 | 25.61 | -0.77% | 7.83万 | 2.02亿 | | 605339 | 南侨食 ...

Investment Rating - The report indicates a positive outlook for the consumer sector, with various sub-sectors showing significant gains in stock performance [2][3]. Core Insights - The consumer sector experienced a broad increase in stock prices, with notable weekly gains in food and beverage (+2.09%), beauty care (+1.78%), retail (+1.68%), home appliances (+1.39%), textiles and apparel (+0.80%), and social services (+0.36%) [2][3]. - Gold prices reached a new high of $3,690 per ounce, contributing to the sustained growth in the gold and jewelry sector, with retail sales in this category increasing by 11% year-on-year [2][3]. - The upcoming National Day and Mid-Autumn Festival holidays are expected to boost tourism, with a reported 130% increase in travel numbers compared to the previous year [2][3]. Summary by Sections Market Weekly Review - The consumer sector saw a comprehensive rise, with specific stocks like Huang Shang Huang (+14.60%) and Sanjiang Shopping (+30.97%) leading the gains [2][3]. - Conversely, stocks such as Wancheng Group (-10.56%) and Anzheng Fashion (-25.20%) faced declines [2][3]. Industry News and Key Company Announcements - The Guangdong Provincial Department of Culture and Tourism announced measures to enhance inbound tourism, including optimizing visa policies and improving service offerings [14][15]. - Alibaba's Gaode Map launched a new service to support offline dining and service consumption, aiming to increase customer traffic [15]. - Meituan announced the relaunch of its quality takeaway service, utilizing AI to enhance user experience [15]. - The report highlights significant growth in the gold and jewelry sector, with expectations for continued high demand in the second half of 2025 [2][3].

Core Viewpoint - The "three giants" of the marinated food industry are facing revenue declines in the first half of 2025, indicating overall industry pressure. Despite efforts to stabilize profits through cost control and store reductions, growth in core business remains weak [2]. Group 1: Revenue and Profit Trends - The marinated food market showed signs of weakness in the first half of the year, with major players like Juewei Food experiencing a 15.57% year-on-year decline in revenue to 2.82 billion yuan and a 40.71% drop in net profit to 175 million yuan [3]. - Huangshanghuang reported a 7.19% decrease in revenue to 984 million yuan, but net profit increased by 26.9% to approximately 76.92 million yuan, attributed to cost-cutting measures [3][5]. - Zhou Hei Ya's revenue fell by 2.9% to 1.22 billion yuan, while net profit surged by 228% to 108 million yuan, driven by improved store efficiency despite a reduction in total store count [4][5]. Group 2: Cost Control Measures - The decline in raw material prices has allowed some marinated food companies to maintain or even increase net profits despite lower sales volumes. Huangshanghuang noted a 2.23 percentage point increase in gross margin due to reduced production costs [5][6]. - The overall market dynamics indicate that the marinated food sector is facing challenges due to decreased consumer willingness and confidence, leading to a need for companies to balance cost reduction and innovation [5][6]. Group 3: Strategic Shifts and New Ventures - The three giants are exploring new business avenues to counteract declining core business performance. Zhou Hei Ya has launched a coconut water brand and is developing compound seasonings and instant food products [6]. - Huangshanghuang is entering the freeze-dried food market, planning to invest 495 million yuan to acquire a 51% stake in a freeze-dried food company, aiming to leverage complementary products and sales channels [6]. - Juewei Food has opened a new concept store, "Juewei Plus," venturing into casual dining with a diverse product range, including fried snacks and desserts [7].

2025.09. 13 本文字数：1774，阅读时长大约3分钟 作者 | 第一财经 揭书宜 2025年上半年，"卤味三巨头"集体面临营收下滑的挑战，行业整体承压。公司虽通过缩减门店、控制 成本等方式暂时稳住利润，但主业增长乏力已是不争事实。 为 打 破 困 境 ， 巨 头 纷 纷 跨 界 谋 变 。 周 黑 鸭 (1458.HK) 发 力 椰 子 水 与 复 合 调 味 料 ， 煌 上 煌 （002695.SZ）斥资布局冻干食品赛道。 然而，新业务能否成为真正的"第二增长曲线"，仍需市场检验。在消费意愿走低的背景下，卤味行业 唯有在降本与创新之间找到平衡，才能真正实现长效破局。 降本以维持利润 今年上半年的卤味市场稍显低迷。绝味食品(603517.SH)今年上半年营收、净利双下滑 。 而煌上煌和 周黑鸭的营收虽然下滑了，但是在原材料成本的走低和门店缩减的情况下，净利润增加了。 也就是说，卤味没有以前好卖了，但是煌上煌和周黑鸭因为"降本"而提高了净利润。其背后的驱动因 素是企业主动的战略收缩和削减成本。 今年上半年，绝味食品实现营收28.2亿元，同比下降15.57%；实现归母净利润1.75亿元，同比下降 40. ...

Core Viewpoint - The "three giants" of the marinated food industry are collectively facing revenue decline in the first half of 2025, indicating overall industry pressure. Despite efforts to stabilize profits through store reductions and cost control, the main business growth remains weak [1] Group 1: Revenue and Profit Trends - The marinated food market showed signs of weakness in the first half of this year, with major players like Juewei Food experiencing a 15.57% year-on-year decline in revenue to 2.82 billion yuan and a 40.71% drop in net profit to 175 million yuan [2] - Huangshanghuang reported a 7.19% decline in revenue to 984 million yuan, while net profit increased by 26.9% to 76.92 million yuan, attributed to cost-cutting measures despite a decline in main business segments [2] - Zhou Hei Ya's revenue decreased by 2.9% to 1.22 billion yuan, but net profit surged by 228% to 108 million yuan, driven by improved single-store operational efficiency [3] Group 2: Cost Control Measures - The decline in raw material prices has helped some marinated food companies maintain net profit levels. Huangshanghuang noted that the prices of key raw materials remained low, leading to a decrease in production costs and a 2.23 percentage point increase in gross profit margin for its marinated meat products [4] - The overall market dynamics indicate that the marinated food industry faces significant challenges due to decreased consumer willingness and confidence, alongside high prices and insufficient cost-performance ratios [4] Group 3: Strategic Shifts and New Ventures - The three giants are exploring new business avenues to sustain performance, with Zhou Hei Ya launching a coconut water brand and entering into partnerships for compound seasoning and convenience food products [5] - Huangshanghuang is investing 495 million yuan to acquire a 51% stake in a freeze-dried food company, aiming to enter the freeze-dried food market [5][6] - Juewei Food has opened a new "Juewei Plus" store in Changsha, venturing into the casual dining sector with a diverse product offering [7]