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 ...

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 ...

Investment Rating - The report maintains a "Buy" rating for the company, expecting a significant price increase relative to the industry index over the next six months [25][33]. Core Insights - The company, recognized as the "first stock in the marinated food sector," has been deeply engaged in the industry for many years, implementing a "thousand cities, ten thousand stores" strategy and optimizing store structures to enhance single-store performance [1][15]. - The company aims to achieve revenues of 22.85 billion, 26.95 billion, and 30.74 billion yuan for the years 2024, 2025, and 2026, respectively, with year-on-year growth rates of 19%, 18%, and 14% [1]. - The projected net profit attributable to the parent company is 1.4 billion, 1.9 billion, and 2.52 billion yuan for the years 2024, 2025, and 2026, reflecting year-on-year growth rates of 98%, 36%, and 32% [1]. Financial Summary - In 2023, the company reported operating revenue of 19.21 billion yuan, a decrease of 1.70% year-on-year, while the net profit attributable to the parent company was 0.71 billion yuan, an increase of 129.01% year-on-year [11][15]. - The comprehensive gross margin for 2023 was 29.06%, up by 0.90 percentage points, and the net profit margin was 3.68%, an increase of 2.10 percentage points [11]. - The company plans to open 2,000 new stores in 2024, focusing on both deepening existing markets and expanding into new ones [16][26]. Operational Performance - The company has successfully opened approximately 70% of its targeted new stores in 2023, with a total of 4,497 specialty stores by the end of the year [26]. - The average sales per store reached 650,000 yuan in the first half of 2023, showing a year-on-year increase of 9.87% [26]. - The company has introduced a new retail model combining online and offline sales, enhancing consumer engagement through various platforms [29].

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].

江西煌上煌集团食品股份有限公司 2023 年度内部控制自我评价报告 江西煌上煌集团食品股份有限公司全体股东： 根据《企业内部控制基本规范》及其配套指引的规定和其他内部控制监管要求（以 下简称"企业内部控制规范体系"），结合江西煌上煌集团食品股份有限公司（以下简称"公 司"）内部控制制度和评价办法，在内部控制日常监督和专项监督的基础上，我们对公司 2023 年 12 月 31 日的内部控制有效性进行了评价。 一、重要声明 按照企业内部控制规范体系的规定，建立健全和有效实施内部控制，评价其有效性，并 如实披露内部控制评价报告是公司董事会的责任。监事会对董事会建立和实施内部控制进行 监督。经理层负责组织、领导企业内部控制的日常运行。 公司董事会、监事会及董事、监事、高级管理人员保证本报告内容不存在任何虚假记载、 误导性陈述或重大遗漏，并对报告内容的真实性、准确性和完整性承担个别及连带法律责任。 公司内部控制的目标是合理保证经营管理合法合规、资产安全、财务报告及相关信息真 实完整，提高经营效率和效果，促进企业实现战略发展目标。由于内部控制存在的固有局限 性，故仅能为实现上述目标提供合理保证。此外，由于情况的变化可能导 ...

关于江西煌上煌集团食品股份有限公司 非经营性资金占用及其他关联资金往来情况 的专项报告 江西煌上煌集团食品股份有限公司 非经营性资金占用及其他关联 资金往来情况的专项报告表 二○二三年度 信会师报字[2024]第 ZA10420 号 江西煌上煌集团食品股份有限公司全体股东： 我们审计了江西煌上煌集团食品股份有限公司(以下简称"煌上 煌公司")2023 年度的财务报表，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和相关财务报表附注，并 于 2023 年 12 月 31 日出具了报告号为信会师报字(2024)第 10417 号的 无保留意见审计报告。 煌上煌公司管理层根据中国证券监督管理委员会《上市公司监管 指引第 8 号——上市公司资金往来、对外担保的监管要求》（证监会 公告〔2022〕26 号）和《深圳证券交易所上市公司自律监管指南第 1 号——业务办理（2023 年修订）》的相关规定编制了后附的 2023 年 度非经营性资金占用及其他关联资金往来情况汇总表（以下简称"汇 总表"）。 编制汇总表并确保 ...

江西煌上煌集团食品股份有限公司 2023 年度独立董事述职报告（章美珍） 各位股东及股东代表： 作为江西煌上煌集团食品股份有限公司（以下简称为"公司"）的独立董事， 在职期间我严格按照《公司法》、《上市公司独立董事管理办法》、《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》、《公司章程》等规 定和要求，恪尽职守，勤勉尽责，积极出席相关会议，依托专业知识为公司经营 决策和规范运作提出意见和建议，对公司重大事项发表了独立意见，忠实地履行 了独立董事的工作职责，充分发挥了独立董事的作用，切实维护了公司以及股东 尤其是中小股东的合法权益。现将 2023 年度本人履行独立董事职责情况向各位 股东汇报如下： 一、出席会议情况 二、发表独立董事意见的情况 1、2023 年 3 月 6 日，公司第五届董事会第十七次会议上，我对公司符合向 特定对象发行 A 股股票条件、修订公司向特定对象发行 A 股股票方案及预案、修 订公司向特定对象发行 A 股股票募集资金使用可行性分析报告、公司向特定对象 发行 A 股股票方案的论证分析报告、公司与认购对象签署附条件生效的股份认购 协议补充协议、公司向特定对象发行 ...

证券代码：002695 证券简称：煌上煌 编号：2024—018 江西煌上煌集团食品股份有限公司 关于召开 2023 年度股东大会的通知 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。 江西煌上煌集团食品股份有限公司（以下简称"公司"）于 2024 年 3 月 28 日召开第六届董事会第五次会议，会议决定于 2024 年 4 月 22 日（星期一）召开 公司 2023 年度股东大会，现将此次股东大会的有关事项通知如下： 一、召开会议的基本情况 1、股东大会届次：2023 年度股东大会 2、股东大会召集人：公司董事会（第六届董事会第五次会议决议召开） 3、会议召开的合法、合规性：本次股东大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。 4、会议召开的日期、时间： （1）现场会议 2024 年 4 月 22 日（星期一）14:30 （2）网络投票时间： 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 ...