金融界7月11日消息，上证指数高开震荡，中证1000主要消费指数 (1000消费，H30443)报7845.59点。 数据统计显示，中证1000主要消费指数近一个月下跌4.42%，近三个月下跌2.47%，年至今上涨0.26%。 据了解，中证1000指数行业指数系列从每个行业内选取流动性和市场代表性较好的证券作为指数样本， 形成10条中证1000行业指数，为投资者提供更多样化的投资标的。该指数以2004年12月31日为基日，以 1000.0点为基点。 从中证1000主要消费指数持仓的市场板块来看，上海证券交易所占比51.18%、深圳证券交易所占比 48.82%。 从中证1000主要消费指数持仓样本的行业来看，食品占比36.45%、养殖占比25.12%、酒占比12.51%、 家庭用品占比10.76%、种植占比8.80%、美容护理占比4.35%、软饮料占比2.01%。 资料显示，指数样本每半年调整一次，样本调整实施时间分别为每年6月和12月的第二个星期五的下一 交易日。特殊情况下将对指数进行临时调整。当样本退市时，将其从指数样本中剔除。样本公司发生收 购、合并、分拆等情形的处理，参照计算与维护细则处理。当中证100 ...

内容概要：随着国民生活水平提高和消费观念转变，对健康零食的需求不断增加，开心果富含蛋白质、 维生素E和单不饱和脂肪酸等营养成分，符合消费者对健康食品的追求，近年来市场需求持续增长，据 统计，2024年我国开心果需求量达23.51万吨，市场规模227.11亿元，而同年我国开心果产量仅8.11万 吨，因此每年均需大量进口。 上市企业：三只松鼠（300783）、洽洽食品（002557）、甘源食品（002991）、盐津铺子（002847）、 来伊份（603777）、良品铺子（603719） 相关企业：安徽味滋源食品有限公司、广东南兴天虹果仁制品有限公司、童年记食品有限公司、青岛沃 隆食品股份有限公司、罗乐食品贸易（上海）有限公司、杭州郝姆斯食品有限公司、杭州勤耕食品科技 有限公司 关键词：开心果市场政策、开心果产业链、开心果需求量、开心果市场规模、开心果竞争格局、开心果 发展趋势 一、概述 开心果，学名为阿月浑子（拉丁学名：PistaciaveraL.），是漆树科黄连木属的多年生落叶果树，也是一 种兼具食用、药用和生态价值的重要经济作物。开心果是一种营养丰富的坚果，据测定，每100克开心 果中含有蛋白质20-25克、 ...

魔芋势能持续，盈利提升可期 盐津铺子(002847) | [table_Authors] 訾猛(分析师) | 颜慧菁(分析师) | 陈力宇(分析师) | [Table_Target] 目标价格： | 100.00 | | --- | --- | --- | --- | --- | | 021-38676666 | 021-38676666 | 021-38676666 | | | | 登记编号 S0880513120002 | S0880525040022 | S0880522090005 | | | 本报告导读： 公司魔芋势能持续，具备供应链竞争优势，全渠道、多品类战略下我们预计或有望 保持较好发展势头，有望持续提升盈利能力。 投资要点： 股票研究 /[Table_Date] 2025.07.09 | [Table_Finance] 财务摘要(百万元) | 2023A | 2024A | 2025E | 2026E | 2027E | | --- | --- | --- | --- | --- | --- | | 营业总收入 | 4,115 | 5,304 | 6,698 | 8,132 | 9,694 | ...

Core Insights - The report indicates a stabilization in food and beverage demand, with signs of recovery becoming increasingly clear [1] - The core conclusion emphasizes a transition between old and new market dynamics, prioritizing market share [4] Industry Review - The food and beverage industry faced pressure in Q2 due to seasonal consumption declines and policy impacts, with significant differentiation among segments. Notably, the liquor and beer sectors were most affected, while beverages and snacks continued to show good growth [6] - Alcoholic beverages, particularly high-end liquor, are undergoing adjustments due to policy changes, while lower-alcohol options are experiencing growth. The report suggests monitoring long-term trading opportunities in the liquor sector [6][12] - The beverage sector remains robust, with double-digit growth expected in categories like electrolyte water and coconut water. The report highlights the upcoming IPO of a coconut water brand, projecting an 80% revenue growth for 2024 [6] - The snack industry is transitioning from channel expansion to category-driven growth, with strong momentum expected to continue into 2026 [6] - The restaurant supply chain is experiencing weak demand, but signs of stabilization are emerging, particularly in basic condiments and frozen prepared foods [6] Investment Recommendations - The report recommends focusing on sectors sensitive to policy changes, such as liquor, beer, and dairy products, with specific stock picks including Guizhou Moutai and Yanjing Beer [6] - It suggests selecting strong individual stocks with clear market share gains or strong earnings certainty, such as Dongpeng Beverage and Haitian Flavoring [6] - High dividend yields are highlighted as a significant safety net in the current weak market environment, with Chongqing Beer being a notable example [6] Liquor Sector Analysis - The liquor index has underperformed the broader market, with a 12% decline year-to-date, primarily due to weakening consumer demand and increased competition [12] - The report notes that the performance of individual liquor stocks has diverged, with some brands gaining market share while others struggle [13] - Guizhou Moutai's price has seen a significant decline, with a year-on-year drop exceeding 20%, impacting overall sector valuations [12][19] Profitability Forecasts - The report anticipates that many companies will struggle to meet their growth targets in 2025, with a general downward revision of revenue growth expectations [44] - It highlights that the external environment remains uncertain, putting pressure on demand, and companies are focusing on inventory reduction and sales promotion [45]

[Table_Reportdate] 2025年07月07日 [证券分析师 Table_Authors] 姚星辰 S0630523010001 yxc@longone.com.cn 证券分析师 吴康辉 S0630525060001 wkh@longone.com.cn -20% -10% 0% 10% 20% 30% 2024-07 2024-09 2024-11 2025-01 2025-03 2025-05 2025-07 食品饮料(申万) 沪深300 [相关研究 table_product] [Table_NewTitle 重视新品类和新渠道下的α机会 ] ——食品饮料行业周报（2025/6/30-2025/7/6） 超配 [table_main] 投资要点： ➢ 风险提示：宏观经济增长不及预期；竞争加剧的影响；食品安全的影响。 行 业 研 究 食 品 饮 料 证券研究报告 HTTP://WWW.LONGONE.COM.CN 请务必仔细阅读正文后的所有说明和声明 行 业 周 报 [table_invest] 1.政策纠偏情绪修复，聚焦供需改善 方 向 — — 食 品 饮 料 行 业 周 报 （2025/ ...

● 2025年以来，消费复苏缓慢，传统食品饮料需求承压，细分板块呈现结构性机会。建议优先关注成长性较强的零食，以及处于 向上修复阶段的啤酒和乳制品。 ● 啤酒：需求边际改善，成本下行释放利润弹性。2024年终端消费较弱，啤酒龙头推进渠道库存去化，库存水平处于历史低位， 板块估值回落至5年低分位。2025年1-5月社零餐饮收入同比有所改善，在旺季低基数和消费政策刺激下，啤酒销售数据修复确 定性较高，有望催化估值抬升。另外成本仍处于下行周期，叠加产品结构持续优化，利润弹性可期。建议关注生鲜高端化优势突 出，盈利改善稳健的青岛啤酒和成长势能强劲的燕京啤酒。 ● 零食：品类与渠道共振，高成长延续。零食板块呈现高景气度和高成长性，强品类与新渠道持续催化。从产品来看，消费者需求 升级趋势明显，健康功能性零食备受关注，以魔芋为代表的产品快速出圈，兼具健康属性和味觉体验，实现高增。从渠道来看， 零食量贩跑马圈地后，两大龙头占据主要市场份额。此外，会员商超渠道崛起，选品引领行业潮流，成为各大零食企业新的发力 点。建议关注盐津铺子、劲仔食品。 ● 乳制品：供需格局逐步改善，静待周期拐点到来。生鲜乳价格持续创年内新低，奶牛养殖亏损 ...

中国 市场策略 2025 年 7 月 1 日 中国 A 股月度报告 2025 年 6 月：得益于市场情绪和流动性改善，股市上 涨 | A股行业回报 | | | A股个股回报 | | 香港、美国上市中国公司回报 | | | --- | --- | --- | --- | --- | --- | --- | | 行业 | 1M (%) YTD (%) | | 代码 公司 | 1M (%) | 代码 公司 | 1M (%) | | 信息技术 | 9.7 | 7.5 | 002015.SZ 协鑫能科 | 76.3 | 1788.HK 国泰君安国际 | 195.7 | | 金融 | 7.3 | 8.2 | 002882.SZ 金龙羽 | 70.6 | AAPG.O 亚盛医药 | 62.3 | | 材料 | 6.9 | 10.9 | 002558.SZ 巨人网络 | 63.1 | 0917.HK 趣致集团 | 57.9 | | 通讯服务 | 5.7 | 10.9 | 002265.SZ 建设工业 | 48.8 | 2799.HK 中信金融资产 | 48.8 | | 工业 | 4.4 | 4.5 | 002463.SZ 沪 ...

Investment Rating - The report maintains a cautious outlook on the liquor industry, suggesting a bottoming opportunity for investment in high-end liquor brands and potential cyclical recovery in beer and yellow wine sectors [2][11][12]. Core Insights - The liquor industry is experiencing pressure on sales due to external risks and a need for demand improvement, with expectations for the price of original box Feitian Moutai to stabilize around 2000 RMB [2][11]. - The beer industry is showing signs of stabilization with a recovery in dining demand and potential for high-frequency sales tracking, suggesting a favorable outlook for the upcoming peak season [3][12]. - The yellow wine sector is witnessing a trend towards premiumization and market promotion efforts by leading brands, indicating a shift in consumer preferences [3][13]. - The snack food industry remains robust, driven by channel expansion and new product penetration, with expectations for continued high growth in Q2 [3][12]. - The soft drink sector is seeing demand improvement driven by health-oriented and functional beverages, with a positive outlook for brands like Dongpeng Beverage and Nongfu Spring [4][14]. - The seasoning industry is stabilizing at a low point, with growth relying on structural upgrades and increased demand from the restaurant sector [5][15]. Summary by Sections Liquor Industry - Feitian Moutai's original box price is stable between 1900-1950 RMB, with expectations for a price stabilization around 2000 RMB [2][11]. - The industry is under pressure, but the market's expectations for short-term performance have been adequately priced in, suggesting a potential for recovery [12]. Beer Industry - The beer sector is expected to stabilize with a recovery in dining demand and increased focus on non-drinking channels [3][12]. - The industry is positioned for a favorable performance in the upcoming peak season, with anticipated steady mid-year earnings [3][12]. Yellow Wine Industry - The trend towards premiumization is becoming a consensus among leading brands, with increased marketing efforts and a focus on younger consumers [3][13]. Snack Food Industry - The snack food sector is maintaining high growth due to channel expansion and new product introductions, with Q2 performance expected to continue the positive trend [3][12]. Soft Drink Industry - The soft drink market is improving, driven by health and functional beverages, with brands like Dongpeng Beverage and Nongfu Spring expected to perform well [4][14]. Seasoning Industry - The seasoning sector is stabilizing, with growth dependent on structural upgrades and increased demand from the restaurant industry [5][15].

证券代码：002847 证券简称：盐津铺子 公告编号：2025-037 盐津铺子食品股份有限公司 本公司及董事会全体成员保证信息披露的内容真实、准确、完整， 没有虚假记载、误导性陈述或重大遗漏。 特别提示： 规定，盐津铺子食品股份有限公司（以下简称"公司"）回购专用证券账户持有 的公司股份 1,050 股不享有参与本次利润分配的权利。 实施后除权除息价格计算时，每股现金红利应以 0.9999961 元/股计算，每 10 股 现金红利为 9.999961 元。 公司总股本折算每股现金红利比例计算如下： 按总股本折算每股现金红利=实际现金分红总金额/总股本（含回购股份）， 即：272,778,629 元÷272,779,679 股=0.9999961 元/股； 除权除息参考价=除权除息日的前一交易日收盘价-按总股本折算每股现金 红利； 综上，2024 年度权益分派实施后的除权除息价格按照上述原则及计算方式 执行，即本次权益分派实施后的除权除息价格=除权除息日的前一交易日收盘价 -0.9999961 元/股。 公司 2024 年度权益分派方案已获 2025 年 5 月 14 日召开的 2024 年年度股东 大会审议 ...

盐津铺子 002847.SZ 公司研究 | 动态跟踪 | | 买入 （维持） | | --- | --- | | 股价（2025年07月01日） | 81.35 元 | | 目标价格 | 91.84 元 | | 52 周最高价/最低价 | 99.98/35.02 元 | | 总股本/流通 A 股（万股） | 27,278/24,572 | | A 股市值（百万元） | 22,191 | | 国家/地区 | 中国 | | 行业 | 食品饮料 | | 报告发布日期 | 2025 年 07 月 02 日 | | | 1 周 | 1 月 | 3 月 | 12 月 | | --- | --- | --- | --- | --- | | 绝对表现% | 0.28 | -7.9 | 21 | 89.83 | | 相对表现% | -0.71 | -10.57 | 19.58 | 76.47 | | 沪深 300% | 0.99 | 2.67 | 1.42 | 13.36 | 谢宁铃 xieningling@orientsec.com.cn 执业证书编号：S0860520070001 ⚫ 出海布局升级，开启全球化第二增长曲线。 ...