格隆汇12月2日｜东吴证券研报指出，盐津铺子二十余载发展历程中始终贯穿着对趋势的敏锐捕捉与深 度适配。往平台型零食企业跨越，大单品战略首战报捷。公司的渠道、供应链、组织管理、品类矩阵等 维度在国内企业中已具备综合领先优势。对比海外，并购经验值得借鉴，本土风味仍待整合。公司综合 实力优秀，尤其全渠道布局能力较为突出，其次企业文化实干积极，组织架构、激励机制完善；近几年 在产品创新、供应链升级、品牌心智塑造上起势较快。综合来看，认为公司具备能力成为平台型零食企 业。维持"买入"评级。 ...

Core Points - The 20th "Golden Roundtable Award" ceremony for Chinese listed companies was held in Jiangyin, attended by over 200 guests including executives, scholars, and media representatives, highlighting achievements in corporate governance [1][2][3] - The event recognized over 100 listed companies with a total market value exceeding 10 trillion, including 16 companies with market values over 100 billion [1][2] Group 1 - The opening speech by Li Zhenqiang emphasized the importance of the "Golden Roundtable Award" as a platform for consensus and wisdom, aiming to support the transformation and upgrading of Chinese listed companies [2][3] - Jiangyin's Vice Mayor Ji Zhen highlighted the city's achievements as a manufacturing hub, with 66 listed companies and a total market value exceeding 300 billion, positioning Jiangyin as a leader among county-level cities [5][6] Group 2 - Liu Yunhong, a professor, discussed the development of corporate governance rules in China, identifying six key issues in current practices and advocating for a shift from "formal compliance" to "substantive effectiveness" [12] - Zhu Zhengyi shared insights from Longji Technology's acquisition of Xingke Jinpeng, emphasizing the strategic role of corporate secretaries in governance [12][13] - Su Mei analyzed the trends in the A-share market under the registration system, stressing the importance of value management for high-quality development [15] Group 3 - The award ceremony recognized outstanding companies and individuals in various categories, including "Most Influential Independent Director" and "Excellent Board of Directors," showcasing achievements in governance and value creation [18][20][33] - The "Best Board of Directors" award was presented to leading companies such as Weichai Power and China Ping An, reflecting their exemplary governance practices and strategic foresight [33][36]

证券研究报告·公司深度研究·休闲食品 盐津铺子（002847） 买入（维持） | [Table_EPS] 盈利预测与估值 | 2023A | 2024A | 2025E | 2026E | 2027E | | --- | --- | --- | --- | --- | --- | | 营业总收入（百万元） | 4,115 | 5,304 | 5,962 | 7,079 | 8,197 | | 同比（%） | 42.22 | 28.89 | 12.40 | 18.74 | 15.79 | | 归母净利润（百万元） | 505.77 | 639.95 | 819.71 | 1,008.28 | 1,224.11 | | 同比（%） | 67.76 | 26.53 | 28.09 | 23.00 | 21.41 | | EPS-最新摊薄（元/股） | 1.85 | 2.35 | 3.01 | 3.70 | 4.49 | | P/E（现价&最新摊薄） | 38.85 | 30.71 | 23.97 | 19.49 | 16.05 | [Table_Tag] [Table_Summary] 投资要点 ◼ 公司二十余载发 ...

Core Viewpoint - The article highlights the collective efforts of Hunan enterprises and individuals in response to a significant fire incident in Hong Kong, showcasing solidarity and support for the affected community [1]. Group 1: Donations and Contributions - Multiple Hunan enterprises have actively participated in fundraising efforts, with the Hong Kong Hunan Association and 21 member organizations expected to donate 5 million HKD [2]. - Notable contributions include: - Lens Technology donating 13.1 million HKD - SANY Group donating 10 million HKD and providing energy equipment for emergency power supply - Afuni Future Capital donating 10 million HKD - Other companies like Zhongwei New Materials, Simore International, and Aier Eye Hospital each donating 5 million HKD [2]. - Additional donations include 2 million RMB from Yanjin Puzhi Food Co., 1 million HKD from Wanxing Technology, and 200,000 RMB from SHOWVEN [2]. Group 2: Individual Contributions - Several Hunan entrepreneurs have also made personal donations, including: - Hu Guoan, Vice President of the Hong Kong Hunan Association, donating 1 million RMB - Lian Zhen'en, Executive President of the association, donating 300,000 HKD - Other individuals contributing smaller amounts [3]. - SANY Group has activated a global disaster response mechanism to assist affected individuals [3]. Group 3: Call for Support and Initiatives - The Hong Kong Hunan Association has initiated a fundraising campaign, encouraging the community to donate cold-weather relief supplies and seek assistance if needed [4]. - The Changsha Municipal Federation of Industry and Commerce and the Changsha Guangcai Foundation have issued a call to action for local businesses to contribute to the relief efforts, emphasizing the importance of social responsibility [4].

出品｜刻度财经 单季营收14.9亿元，同比增长6.1%，前三季度净赚6亿元。 2025年的零食行业，正上演一场惨烈的渠道淘汰赛，鸣鸣很忙带着1.6万家门店冲刺港股，万辰集团靠 着量贩模式扩大门店规模，向香港联合交易所递交上市申请。另一边，三只松鼠增收不增利，抖音渠道 扩展但难掩盈利压力，良品铺子连续三年业绩下滑。 在这种情况下，盐津铺子更像是逆势突围的"优等生"。《刻度财经》研究财报发现，盐津铺子前三季度 营收44.27亿元、归母净利润6.05亿元，同比分别增长14.67%和22.63%。单季营收14.9亿元，同比增长 6.1%，归母净利润2.3亿元。 图源：西南证券报告 另外，公司通过上游产业链的布局，降低了魔芋原料成本压力，一定程度上加强了规模化采购红利，延 续核心产品魔芋制品的爆发表现，2025年上半年，盐津铺子实现营收29.41亿元，同比增长19.58%，归 母净利润3.73亿元，同比增加16.70%，扣非净利润增速达22.50%，整体呈现稳健增长态势。 | | 本报告期 | 本报告期比上年 | 年初至报告期末 | 年初至报告期末 | | --- | --- | --- | --- | --- | | ...

近段时间，党的二十届四中全会精神在中原大地引发热烈反响。《中共中央关于制定国民经济和社会发 展第十五个五年规划的建议》强调，坚持有效市场和有为政府相结合，构建统一、开放、竞争、有序的 市场体系，道出了广大经营主体的心声。 多方努力下，企业项目原需6个月的变更流程缩短至15天，魔芋爽生产线投产时间从预计的2026年4月提 前至今年11月，预计可增加额外产值超5亿元。 为更好发挥政府作用，漯河经开区持续深化"放管服效"改革，创新推出"一件事集成服务"综合窗口， 657项政务服务实现"一网集成"，"即办件"占比超92%，承诺时限压缩超92%。推行"帮办代办"全覆盖 和"容缺受理"机制，为企业提供"全链条""点对点"服务。深入开展"万人助万企"与"学查改·以企观政服 务企业大走访"，坚持"走下去、到企业、面对面、一对一"，精准收集企业诉求，建立"收集—交办—督 办—反馈"闭环机制，问题解决率达100%。 河南省漯河经济技术开发区盐津铺子食品有限公司办公室里，项目负责人许亚峰接到了区服务专班工作 人员的电话："问题清单已经发给您了，您再看看还有哪些难题？" "我们将持续强化助企服务，有效提升产业项目'含金量'、'含新量 ...

近段时间，党的二十届四中全会精神在中原大地引发热烈反响。《中共中央关于制定国民经济和社会发 展第十五个五年规划的建议》强调，坚持有效市场和有为政府相结合，构建统一、开放、竞争、有序的 市场体系，道出了广大经营主体的心声。 河南省漯河经济技术开发区盐津铺子食品有限公司办公室里，项目负责人许亚峰接到了区服务专班工作 人员的电话："问题清单已经发给您了，您再看看还有哪些难题？" 半年前，许亚峰还在为生产线"中途改道"而犯愁。2024年，盐津铺子在漯河经开区新建肉脯生产线，建 至中途时，公司经市场调研发现魔芋类食品"大魔王"系列销量增长迅猛，于是准备将肉脯生产线变更为 魔芋爽生产线。 "最难办的是跨部门流程。"许亚峰回忆，"消防审批、绿化布局、水电气管网改造、厂房规格调整，每 一项都涉及多个部门。" （文章来源：经济日报） "企业有难处，我们必须跑起来！"漯河经开区企业服务专员周博在走访中得知情况后，当晚便整理出问 题清单。 相关情况上报区服务专班后，区主要领导亲自带队现场办公，要求所有问题的解决路径必须"一竿子插 到底"。分管领导召集电力、水务、热力公司及住建、消防等部门，现场敲定方案。服务专员全程驻 场，发现问题 ...

Group 1: Economic Indicators and Consumer Trends - The CPI in October showed a slight improvement, with a year-on-year increase of 0.2% and a month-on-month increase of 0.2%, indicating a potential recovery trend that may continue into the first half of next year [6][10] - The retail sales of consumer goods in October reached 46,291 billion yuan, growing by 2.93% year-on-year, with significant improvements in essential consumption categories such as food and beverages [10] - The restaurant sector saw a monthly revenue of 5,199 billion yuan in October, reflecting a year-on-year growth of 3.8%, driven by the National Day and Mid-Autumn Festival holidays [10] Group 2: Frozen and Food Supply Industry - The frozen food and catering industry is witnessing a shift from price wars to product innovation and channel development, with companies focusing on quality and service rather than just price competition [11] - Major players like Anjiyuan and Qianwei Central Kitchen are transitioning their strategies to emphasize product quality and operational efficiency, leading to improved profitability [11][15] - The industry is entering a "hard strength reshuffle period," where companies are expected to enhance their product offerings and service capabilities to maintain competitiveness [11] Group 3: Snack Food Sector - The snack food sector is experiencing a weak recovery, with a clear differentiation in growth among brands and channels, driven by strategic adjustments and product innovations [33][34] - The emergence of the konjac category as a significant growth driver, with market potential expected to reach 300 billion yuan by 2025, indicates a strong consumer demand for healthy snacks [34][40] - Companies like Yummy Foods and Salted Fish are leveraging their core products and channel strategies to achieve substantial growth, with a focus on high-margin products and efficient cost management [34][42] Group 4: Specific Company Strategies - Anjiyuan is focusing on high-margin products and channel expansion, with significant growth in its core offerings like volcanic stone grilled sausages and high-end dumplings [12][13] - Qianwei Central Kitchen is seeing improvements in its direct sales and distribution channels, with a focus on enhancing profitability through strategic adjustments in customer structure and resource allocation [15][18] - Salted Fish is capitalizing on the konjac trend and optimizing its product mix to improve profitability, with a strong emphasis on high-margin products and efficient channel management [40][41]

证券代码：002847 证券简称：盐津铺子 公告编号：2025-061 盐津铺子食品股份有限公司 2025年中期权益分派实施公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整， 没有虚假记载、误导性陈述或重大遗漏。 特别提示： 1、根据《深圳证券交易所上市公司自律监管指引第 9 号-回购股份》的相关 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。 2、因公司回购股份不享有参与本次利润分配的权利，因此，本次权益分派 实施后除权除息价格计算时，每股现金红利应以 0.3999984 元/股计算，每 10 股 现金红利为 3.999984 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：109,083,451.60 元÷272,709,679 股=0.3999984 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，2025 年中期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 ...

（文章来源：证券日报） 证券日报网讯 11月26日晚间，盐津铺子发布公告称，公司本次回购注销限制性股票的激励对象共5名， 回购注销的限制性股票数量合计为70，000股，注销股份占注销前总股本272，779，679股的0.03%。本 次回购价格分别为27.12元/股、25.07元/股（回购价格差异系不同期次股权激励计划对应的授予价格不 同，加之其授予日不同对应的银行利息存在一定差异所致）。本次回购的总金额为1，858，220.00元， 资金来源为自有资金。截至本公告日，上述限制性股票已在中国证券登记结算有限责任公司深圳分公司 完成回购注销手续。本次回购注销完成后，公司总股本由272，779，679股变更为272，709，679股。 ...