证券代码：002847 证券简称：盐津铺子 公告编号：2024-085 盐津铺子食品股份有限公司 1、股东股份本次解除质押的情况 | 股东 | 是否为控股股东 或第一大股东及 | 本次解除质 | 占其所持 股份比例 | 占公司总 股本比例 | 起始日 | 解除日期 | 质权人 | | --- | --- | --- | --- | --- | --- | --- | --- | | 名称 | 一致行动人 | 押数量（股） | （%） | （%） | | | | | 张学文 | 是 | 4,200,000 | 10.01 | 1.54 | 2023.05.29 | 2024.11.25 | 渤海国际信托 股份有限公司 | | | 合计 | 4,200,000 | 10.01 | 1.54 | | | | 2、股东股份累计质押的情况 截至本公告披露日，上述股东及其一致行动人持有本公司股份累计质押情况 如下： | | 持股数量 | 持股 | | 占其所 | 占公司 | 已质押股份 情况 | | 未质押股份 情况 | | | --- | --- | --- | --- | --- | --- | --- | --- ...

湖南启元律师事务所 关于盐津铺子食品股份有限公司 2024年第五次临时股东大会的 法律意见书 二零二四年十一月 致：盐津铺子食品股份有限公司 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》等我国现行法律、法规、规范性文件以及《盐津铺子食品股份有限公 司章程》（以下简称"《公司章程》"）的规定，湖南启元律师事务所（以下简称 "本所"）接受盐津铺子食品股份有限公司（以下简称"公司"）的委托，指派本所 律师出席了公司 2024 年第五次临时股东大会（以下简称"本次股东大会"），对 本次股东大会的召集和召开程序、召集人及出席会议人员的资格、表决程序和表 决结果的合法有效性进行现场律师见证，并出具本法律意见书。 为出具本法律意见书，本所律师依法查验了公司提供的下列资料： （一）刊登在中国证券监督管理委员会（以下简称"中国证监会"）指定媒体 巨潮资讯网站（http://www.cninfo.com.cn/）的关于召开 2024 年第五次临时股东 大会的通知公告； （二）出席现场会议的股东或其代理人的资格、身份证明文件等； （三）深圳证券信息有限公司在本次股东大会网络投票结束后提供给公司的 ...

证券代码：002847 证券简称：盐津铺子 公告编号：2024-084 盐津铺子食品股份有限公司 2024年第五次临时股东大会决议公告 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、本次股东大会未出现否决议案的情形； 2、本次股东大会不涉及变更以往股东大会已通过的决议。 一、会议召开情况 （一）会议召开日期和时间： 现场会议时间为：2024 年 11 月 15 日下午 15:00 网络投票时间为：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 11 月 15 日上午 9:15—9:25，9:30—11:30，下午 13:00－15:00；通过深圳 证券交易所互联网投票系统投票的具体时间为：2024 年 11 月 15 日（现场股东 大会召开当日）上午 9:15 至当日下午 15:00。 （二）现场会议召开地点：湖南省长沙市雨花区长沙大道运达中央广场写字 楼 A 座 32 楼，盐津铺子食品股份有限公司总部行政会议室。 参加本次股东大会现场会议和网络投票的股东、股东代表及委托代理人共计 128 人，代表有表决权的股份数额 18 ...

Investment Rating - The investment rating for the company is "Outperform the Market" and is maintained [1] Core Views - The company reported a revenue of 3.861 billion yuan for Q1-Q3 2024, representing a year-over-year increase of 28.49%, and a net profit attributable to shareholders of 493 million yuan, up 22.8% year-over-year [5][6] - In Q3 2024 alone, the company achieved a revenue of 1.4 billion yuan, which is a 26.2% increase year-over-year, with a net profit of 174 million yuan, reflecting a 15.62% year-over-year growth [6][7] - The company's growth is driven by a focus on seven core product categories and a multi-channel strategy, enhancing brand influence and channel capabilities [7][8] Financial Performance Summary - For the first three quarters of 2024, the company experienced a gross margin decline of 2.62 percentage points, attributed to changes in channel and product category structures, but gross profit increased by 18.73% year-over-year [6] - The company expects revenues of 5.268 billion yuan in 2024, with net profits projected at 652 million yuan, corresponding to an EPS of 2.39 yuan per share [8][11] - The projected revenue growth rates for 2024-2026 are 28.0%, 25.6%, and 24.8%, respectively, with net profit growth rates of 28.9%, 27.9%, and 26.3% [9][11] Market Position and Strategy - The company is enhancing its market position by transitioning its strategy from a "product + channel" dual-driven growth model to a "channel-first, product-leading" approach, optimizing sales product and channel structures [7][8] - The company is expanding its presence in e-commerce and other retail formats, including partnerships with platforms like Douyin to increase brand visibility [7][8] Valuation and Recommendations - The company is assigned a valuation range of 59.75 to 71.70 yuan based on a PE ratio of 25-30 times for 2024E [8][10] - The average PE ratio of comparable companies is noted to be 53.23 times for 2024E, indicating a competitive positioning in the market [10]

证券代码：002847 证券简称：盐津铺子 公告编号：2024-083 盐津铺子食品股份有限公司 关于公司股东部分股份质押的公告 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。 盐津铺子食品股份有限公司（以下简称"公司"）近日收到股东张学文先生 的函告，张学文先生所持有本公司的部分股份办理了质押手续，具体事项如下： 一、股东股份质押的基本情况 1、股东股份本次质押的情况 | 股东 | 是否为控 股股东或 | 本次质押 | 占其所 持股份 | 占公 司总 | 是否 | 是否 为补 | 质押开始 | | | 质押 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 名称 | 第一大股 | 数量（股） | 比例 | 股本 | 为限 | 充质 | 日 | 质押到期日 | 质权人 | 用途 | | | 东及一致 | | （%） | 比例 | 售股 | 押 | | | | | | | 行动人 | | | （%） | | | | | | | | 张学文 | 是 | 3,500,000 ...

Investment Rating - The report maintains a "Buy" rating for the company [5][8][11] Core Insights - The company has shown strong revenue growth, with a projected increase in revenue from 28.94 billion CNY in 2022 to 77.70 billion CNY by 2026, representing a compound annual growth rate (CAGR) of approximately 27.67% [1][4] - The net profit attributable to shareholders is expected to grow from 3.01 billion CNY in 2022 to 9.67 billion CNY in 2026, indicating a robust growth trajectory [1][4] - The company has successfully implemented a multi-channel strategy, with significant contributions from key product categories such as konjac and quail eggs, which together account for about half of the revenue growth [3][4] Financial Performance Summary - For the first three quarters of 2024, the company achieved a revenue of 38.61 billion CNY, a year-on-year increase of 28.49%, and a net profit of 4.93 billion CNY, up 24.55% [2][3] - The third quarter alone saw a revenue of 14.02 billion CNY, marking a 26.20% year-on-year growth and a 13.42% quarter-on-quarter increase [2][3] - The gross profit margin for Q3 was reported at 30.62%, reflecting a slight decline due to changes in sales channel structure [4] Revenue and Profit Forecast - The company is projected to achieve revenues of 52.54 billion CNY in 2024, 64.64 billion CNY in 2025, and 77.70 billion CNY in 2026, with respective growth rates of 27.67%, 23.04%, and 20.19% [1][4] - The net profit forecast for the same years is 6.51 billion CNY, 8.00 billion CNY, and 9.67 billion CNY, with growth rates of 28.76%, 22.80%, and 20.90% respectively [1][4] Valuation Metrics - The current price-to-earnings (P/E) ratio is projected to decrease from 47.45 in 2022 to 14.80 by 2026, indicating an improving valuation as earnings grow [1][4] - The price-to-book (P/B) ratio is expected to decline from 12.61 in 2022 to 5.44 in 2026, reflecting a more attractive valuation over time [1][4]

Investment Rating - The investment rating for the company is "Buy" (maintained) [2][7][10] Core Views - The company reported strong revenue growth in Q3 2024, with a year-on-year increase of 26.20%, positioning it among the industry leaders [3][5] - The company's revenue for the first three quarters of 2024 reached 3.861 billion yuan, up 28.49% year-on-year, while the net profit attributable to shareholders was 493 million yuan, an increase of 24.55% [3][4] - Despite short-term profit fluctuations due to changes in channel structure and tax rates, the long-term outlook remains positive with significant growth potential in both revenue and profit [4][7] Summary by Sections Financial Performance - In Q3 2024, the company achieved a revenue of 1.402 billion yuan, a 26.20% increase year-on-year, and a net profit of 174 million yuan, up 15.62% [3][4] - The gross profit margin for Q3 2024 was 30.6%, down 2.3 percentage points year-on-year, primarily due to changes in channel structure [4][5] - The company’s operating profit margin for Q3 was 14.8%, reflecting a slight increase of 0.2 percentage points year-on-year [4] Revenue and Profit Forecast - The company is expected to achieve revenues of 5.257 billion yuan, 6.537 billion yuan, and 8.002 billion yuan for the years 2024, 2025, and 2026 respectively, with corresponding net profits of 651 million yuan, 785 million yuan, and 961 million yuan [7][8] - The earnings per share (EPS) are projected to be 2.38 yuan, 2.88 yuan, and 3.52 yuan for the same years, with a price-to-earnings (P/E) ratio of 21, 18, and 14 respectively [8][10] Market Position and Strategy - The company has successfully cultivated two major brands, "Egg Emperor" and "Big Devil," which have significantly contributed to revenue growth [5][7] - The company is expanding its product lines by establishing subsidiaries focused on snack foods and meat products, expected to contribute to revenue in Q4 2024 [5][6]

Investment Rating - The investment rating for the company is "Buy" (maintained) [1][5] Core Insights - The company reported a revenue of 3.861 billion yuan for the first three quarters of 2024, representing a year-on-year growth of 28.49%. The net profit attributable to shareholders was 493 million yuan, up 24.55% year-on-year [1] - In Q3 2024, the company achieved a revenue of 1.402 billion yuan, with a year-on-year increase of 26.20%, and a net profit of 174 million yuan, reflecting a 15.62% growth year-on-year [1] - The company continues to see strong revenue growth driven by new product launches and channel expansion, particularly in the snack segment [1] - The gross profit margin for Q3 2024 was 30.62%, a decrease of 2.32 percentage points year-on-year, indicating short-term pressure on profitability [1] Revenue and Profit Forecast - Revenue projections for 2024-2026 are 5.323 billion yuan, 6.610 billion yuan, and 8.073 billion yuan respectively, with net profits expected to be 636 million yuan, 808 million yuan, and 991 million yuan [1][4] - The company is focusing on brand building and product differentiation to maintain competitive advantages and drive future growth [1] Financial Metrics - The company's P/E ratio is projected to decrease from 28.3 in 2023 to 14.4 in 2026, indicating an expected improvement in valuation over time [1] - The net asset return rate is forecasted to be 31% in 2024, gradually declining to 26% by 2026 [1][4] Market Position and Strategy - The company is leveraging a multi-channel strategy, particularly focusing on high-potential membership channels and aggressive e-commerce marketing to enhance sales [1] - The introduction of new product lines, such as "Big Demon King" and "Egg Emperor," is expected to contribute significantly to revenue growth [1]

Investment Rating - The investment rating for the company is "Buy" [1]. Core Views - The company reported a revenue of 14.02 billion yuan in Q3 2024, representing a year-on-year increase of 26.2%. The net profit attributable to the parent company was 1.74 billion yuan, up 15.62% year-on-year [1]. - The growth in revenue was driven by the snack channel, with a notable 64.35% increase in revenue from konjac products. However, concerns remain regarding the company's growth potential due to insufficient product drivers [1]. - The company is focusing on enhancing supply chain efficiency and developing a big product strategy, which is expected to yield positive results in the future [1]. Financial Performance Summary - The company's total revenue for 2022 was 2,894 million yuan, with a projected increase to 4,115 million yuan in 2023 and further to 5,296 million yuan in 2024, reflecting a year-on-year growth rate of 42.2% [2]. - The net profit attributable to the parent company is expected to rise from 301 million yuan in 2022 to 506 million yuan in 2023, and to 641 million yuan in 2024, indicating a growth rate of 67.8% [2]. - The gross profit margin is projected to decrease from 34.7% in 2022 to 33.5% in 2023, and further to 31.4% in 2024 [2]. - The company's EPS (Earnings Per Share) is expected to increase from 1.11 yuan in 2022 to 1.85 yuan in 2023, and to 2.35 yuan in 2024 [2]. Future Outlook - The company is expected to maintain a strong focus on multi-category product structures that align well with e-commerce and various sales channels, which are anticipated to continue high growth [1]. - The supply chain efficiency is expected to improve, which will help maintain a favorable profit margin level [1].

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company has shown robust revenue growth, with a year-on-year increase of 26.20% in Q3 2024, achieving a revenue of 1.402 billion yuan. The net profit attributable to shareholders increased by 15.62% to 174 million yuan [1] - The company has launched new products, "Big Demon King" and "Egg Emperor," which are expected to drive further growth. The quail egg segment saw a remarkable revenue increase of 104.43% year-on-year [1] - The company is focusing on a multi-category strategy and enhancing its brand presence through a big product strategy [1] Financial Performance Summary - For the first three quarters of 2024, the company achieved a total revenue of 3.861 billion yuan, representing a year-on-year growth of 28.49%. The net profit attributable to shareholders was 493 million yuan, up 24.55% year-on-year [1] - The gross margin and net margin for Q3 2024 were 30.62% and 12.49%, respectively, showing a decline of 2.32 percentage points and 1.05 percentage points year-on-year due to changes in channel revenue mix and increased tax expenses [1] - The company’s sales expense ratio, management expense ratio, financial expense ratio, and R&D expense ratio for Q3 2024 were 12.13%, 3.11%, 0.17%, and 1.37%, respectively, with year-on-year changes of +0.29 percentage points, -1.34 percentage points, -0.17 percentage points, and -0.23 percentage points [1] Revenue and Profit Forecast - The company is projected to achieve revenues of 5.224 billion yuan, 6.478 billion yuan, and 7.851 billion yuan for 2024, 2025, and 2026, respectively, with year-on-year growth rates of 26.95%, 24.00%, and 21.19% [2] - The net profit attributable to shareholders is expected to be 635 million yuan, 804 million yuan, and 1.020 billion yuan for the same years, with growth rates of 25.53%, 26.59%, and 26.94% [2] - The price-to-earnings (P/E) ratios for 2024, 2025, and 2026 are projected to be 22.7X, 17.9X, and 14.1X, respectively, indicating a favorable valuation compared to peers [2] Market Position and Strategy - The company is actively expanding its distribution channels, focusing on high-potential membership stores, snacks, and e-commerce, while also maintaining a presence in traditional retail [1] - The establishment of new subsidiaries, focusing on fried goods and poultry products, is expected to contribute to revenue and profit growth starting in Q4 2024 [2]