一、独立董事的基本情况 （一）基本情况 张喻，1972年8月生，中国国籍，无境外永久居留权，博士，教授，硕士生 导师，湖南省青年骨干教师培养对象（2012年），湖南省食品科学技术学会理事。 1996年湖南农业大学获工学学士学位，2001年湖南农业大学获工学硕士学位， 2010年湖南农业大学获博士学位。长期从事食品科学与工程方面的教学、科研与 社会服务工作。先后参与国家"863"项目、国家重大科技攻关专项课题、国家支 撑计划项目、（大米酶法制取高纯度功能性低聚麦芽糖）、省科技厅重大专项、 省重点领域研发计划项目、长沙市重大专项等国家级、省部级科研课题多项。以 第一作者或通讯作者在《Industrial Crops & Products》LWT-Food 《Science and Technology》《International Journal of Biological Macromolecules》《农业工程学 报》《食品科学》《中国食品学报》《中国粮油学报》等刊物上发表科研论文70 余篇；获省部级科技进步二等奖3项，省技术发明二等奖1项；获授权国家发明专 利16项（其中第一发明人5项），转让专利成果2项。 ...

盐津铺子食品股份有限公司 盐津铺子食品股份有限公司 一、独立董事的基本情况 （一）基本情况 刘灿辉先生，1974年5月生，中国国籍，无境外永久居留权，会计学（财务 管理）硕士、经济学博士、金融学博士后，会计师。1997年2月至2000年8月任飞 利浦消费电子有限公司成本核算组长，2004年3月至2012年7月,历任财信证券有 限责任公司财务分析和纳税筹划专员、行业研究主管、总裁办副主任(主持工作)， 2012年8月至2014年10月,深圳证券交易所博士后工作站研究员(期间借调中国证 监会担任审核工作)，2014年11月至2020年1月,安信证券股份有限公司并购融资部 业务总监，2020年2月至今,湖南财政经济学院会计学院教师。现任上市公司有棵 树科技股份有限公司、湘北威尔曼制药股份有限公司独立董事。主持中国博士后 课题基金、湖南省社科基金等多项课题，在《管理世界》《金融研究》等刊物公 开发表学术论文20余篇，出版专著2部。 （二）是否存在影响独立性的情况说明 作为公司的独立董事，经自查，本人符合《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》等相关法 独立董事2 ...

盐津铺子食品股份有限公司 盐津铺子食品股份有限公司 独立董事2024年度述职报告 各位股东及股东代表： 作为盐津铺子食品股份有限公司（以下简称"公司"）的独立董事，本人按 照《公司法》《证券法》《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》《上市公司独立董事管理办法》等法律法规和《公司章程》 《独立董事制度》的要求，在2024年度勤勉地履行了职责，独立、谨慎、认真地 行使了公司赋予的权利，及时了解公司的经营状况，积极出席公司召开的相关会 议及独立董事专门会议，认真审议各项议案，充分发挥了独立董事及各专业委员 会委员的作用，切实维护了公司和全体股东尤其是社会公众股东的合法权益。现 将本人2024年履职情况报告如下： 一、独立董事的基本情况 （一）基本情况 王红艳女士，1967年2月生，中国国籍，无境外永久居留权，研究生学历， 法学硕士，法学教授，注册律师，1989年8月至1994年6月，历任邵阳市郊区雨溪 桥乡人民政府司法助理、长沙市第五制鞋厂法律顾问、长沙水泵厂法律顾问、湖 南崇民律师事务所律师，1994年6月至今，历任长沙理工大学文法学院讲师、副 教授、教授、教学指导委员会主任委员、长 ...

因此，公司独立董事符合《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》中对独立董事独立性的 相关要求。 盐津铺子食品股份有限公司 盐津铺子食品股份有限公司 董 事 会 盐津铺子食品股份有限公司 2025 年 4 月 23 日 董事会对独立董事独立性自查情况的专项意见 根据《上市公司独立董事管理办法》《深圳证券交易所股票上市规则》《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》等要求， 结合独立董事出具的《独立董事独立性自查表》，盐津铺子食品股份有限公司（以 下简称"公司"）董事会，就公司在任独立董事王红艳、刘灿辉、张喻的独立性 情况进行评估并出具如下专项意见： 经核查独立董事王红艳、刘灿辉、张喻的任职经历以及签署的相关自查文件， 上述人员未在公司担任除独立董事以外的任何职务，也未在公司主要股东公司担 任任何职务，与公司以及主要股东之间不存在利害关系或其他可能妨碍其进行独 立客观判断的关系。 ...

盐津铺子（002847）公告，2025年第一季度营业收入15.37亿元，同比增长25.69%。净利润1.78亿元， 同比增长11.64%。 ...

Financial Performance - The company's operating revenue for 2024 reached CNY 5,303,933,906.59, representing a 28.89% increase compared to CNY 4,115,175,423.46 in 2023[23]. - The net profit attributable to shareholders for 2024 was CNY 639,945,878.04, up 26.53% from CNY 505,773,918.21 in the previous year[23]. - The basic earnings per share for 2024 was CNY 2.36, reflecting a 25.53% increase from CNY 1.88 in 2022[23]. - Total assets at the end of 2024 were CNY 3,611,600,652.49, a 25.84% increase from CNY 2,869,970,537.70 at the end of 2023[24]. - The net assets attributable to shareholders increased by 19.89% to CNY 1,734,851,729.87, compared to CNY 1,446,999,221.09 at the end of 2023[24]. - The company reported a total of CNY 71,933,646.13 in non-recurring gains for 2024, significantly higher than CNY 29,539,687.28 in 2023[29]. - The weighted average return on equity for 2024 was 40.86%, an increase of 1.94% from 38.92% in 2023[23]. - The gross profit margin for the food manufacturing sector was 30.69%, a decrease of 2.85% compared to the previous year[79]. - The main business cost for 2024 was 3,643,394,293.64 yuan, representing a 34.47% increase compared to 2,709,509,852.30 yuan in 2023[83]. - The company’s net profit attributable to shareholders was ¥639,945,900.00 in 2024, with a significant difference from the operating cash flow due to increased sales and non-cash costs[97]. Market Strategy and Expansion - The company has a comprehensive strategy for market expansion, focusing on increasing its presence in the central and southern regions of China[16]. - The company plans to continue expanding its market presence and investing in new product development to drive future growth[31]. - Companies are accelerating international expansion, leveraging supply chain advantages to capture overseas markets, contributing to revenue growth[39]. - The company has initiated a sales strategy targeting Southeast Asia, with its konjac products making significant inroads into the Thai market, laying the groundwork for global brand expansion[43]. - The company plans to enter two new international markets by the end of the fiscal year, targeting a revenue contribution of 100 million RMB from these markets[1]. - The company is considering strategic acquisitions to enhance its product portfolio, with a budget of 200 million RMB allocated for potential deals[1]. Product Development and Innovation - The company is focusing on developing new products such as zero preservative konjac and probiotic ice cream pudding, which are expected to enhance product competitiveness[91]. - The company has successfully diversified its product line since 2018, introducing new items such as baked goods and konjac products to drive growth[41]. - The company is actively developing new products, such as the "Da Mo Wang" konjac product, which has become a phenomenon in the industry[71]. - The company aims to enhance digitalization and smart manufacturing to drive high-quality growth[113]. - The company plans to strengthen its automation and digitalization efforts, including the introduction of advanced production lines for various products[114]. Marketing and Sales Channels - The company has established a comprehensive marketing model that includes direct sales, e-commerce, and partnerships with major retailers, creating a multi-layered and efficient marketing network[50]. - The company has established a unified marketing headquarters to manage direct supermarket channels, distributor channels, and online e-commerce channels[51]. - The company has transitioned to a comprehensive channel strategy, expanding into new retail channels such as community group buying and hard discount systems[53]. - The online sales channel generated ¥1,159,379,831.74, accounting for 21.86% of total revenue, with a year-on-year growth of 39.95%[78]. - A new marketing strategy was implemented, resulting in a 15% increase in customer engagement[1]. Corporate Governance and Shareholder Relations - The company has established a robust information disclosure management system, ensuring the accuracy and completeness of disclosed information[135]. - The company actively engages in investor relations management through various channels, enhancing investor understanding and recognition[136]. - The company is committed to enhancing investor relations and has received an "A" rating for information disclosure for six consecutive years from 2018 to 2023[127]. - The board of directors consists of 7 members, including 1 external director and 3 independent directors, and held 10 meetings during the reporting period[133]. - The company has implemented a mechanism to effectively link senior management's compensation with shareholder interests through stock ownership[200]. Financial Management and Investments - The company has established a profit distribution policy that respects shareholder interests and aims for a stable return mechanism over the next three years (2024-2026)[183]. - The total cash dividends and share repurchases for the fiscal year 2024 amounted to ¥496,386,808.38, representing 77.57% of the net profit attributable to shareholders[129]. - The company plans to repurchase shares through centralized bidding, with specific proposals approved on July 10, 2024[173]. - The company has signed annual distribution contracts with distributors, ensuring exclusive sales rights and defined sales territories[53]. - The company has developed a supplier database and conducts regular evaluations to ensure quality and compliance of suppliers[62]. Employee and Management Structure - The total number of employees at the end of the reporting period is 5,001, with 2,489 in the parent company and 1,107 in major subsidiaries[176]. - The employee composition includes 3,299 production personnel, 1,016 sales personnel, 188 technical personnel, 77 financial personnel, and 421 administrative personnel[177]. - The company has implemented a training program through Yan Jin Academy, focusing on practical application and problem-solving to develop future leaders[180]. - The company has a comprehensive salary policy that emphasizes fairness, competitiveness, and incentivization based on performance and market standards[178]. - The company has established a performance evaluation system to align executive compensation with company goals[164]. Risks and Challenges - The company emphasizes the importance of risk factors that may affect future development, as detailed in the management discussion and analysis section[7]. - The company faces risks related to food safety regulations, which may increase costs and impact production if compliance issues arise[117]. - The company is addressing market competition risks as new brands and cross-industry capital continue to enter the snack food sector[120].

Financial Performance - The company's operating revenue for Q1 2025 was ¥1,537,467,291.43, representing a 25.69% increase compared to ¥1,223,244,715.96 in the same period last year[4] - Net profit attributable to shareholders for Q1 2025 was ¥178,202,961.01, an increase of 11.64% from ¥159,624,450.40 in Q1 2024[4] - Basic earnings per share for Q1 2025 were ¥0.66, up 11.86% from ¥0.59 after adjustments in the previous year[4] - Total operating revenue for Q1 2025 reached ¥1,537,467,291.43, an increase of 25.7% compared to ¥1,223,244,715.96 in the same period last year[19] - Net profit for Q1 2025 was ¥176,236,399.60, representing a 10.4% increase from ¥159,802,145.64 in Q1 2024[20] - Earnings per share for Q1 2025 were ¥0.66, compared to ¥0.59 in the same quarter last year, reflecting a growth of 11.9%[21] Cash Flow - The net cash flow from operating activities decreased by 68.63% to ¥67,226,552.80, down from ¥214,293,047.26 in the previous year[10] - Cash flow from operating activities for Q1 2025 was ¥67,226,552.80, a decrease of 68.7% from ¥214,293,047.26 in Q1 2024[22] - The net cash flow from investment activities was -¥223,484,493.40, compared to -¥104,095,779.69 in the previous period, indicating a significant increase in cash outflow[24] - The total cash inflow from financing activities was ¥351,712,800.00, down from ¥389,990,000.00 in the previous period, reflecting a decrease of approximately 9.1%[24] - The net cash flow from financing activities improved to ¥222,291,020.06, compared to ¥64,485,300.55 in the previous period, showing a substantial increase[24] - The cash and cash equivalents at the end of the period totaled ¥297,013,082.20, down from ¥478,791,295.97 in the previous period, representing a decrease of approximately 37.9%[24] - The company paid ¥80,000,000.00 in cash related to investment activities, a decrease from ¥329,900,000.00 in the previous period[24] - The company received ¥10,700,000.00 from minority shareholders as part of investment activities, indicating new capital inflow[24] - The company repaid debts amounting to ¥121,806,229.72, significantly lower than ¥319,990,000.00 in the previous period[24] - The impact of exchange rate changes on cash and cash equivalents was -¥410,962.31, compared to a positive impact of ¥219.10 in the previous period[24] - The company’s cash and cash equivalents increased by ¥65,622,117.15 during the period, compared to an increase of ¥174,682,787.22 in the previous period[24] Assets and Liabilities - Total assets at the end of Q1 2025 were ¥3,711,129,178.76, reflecting a 2.76% increase from ¥3,611,600,652.49 at the end of the previous year[5] - The equity attributable to shareholders increased by 11.05% to ¥1,926,503,060.21 from ¥1,734,851,729.87 at the end of the previous year[5] - Total liabilities decreased to ¥1,737,318,155.78 from ¥1,838,174,398.44 at the beginning of the period, a reduction of 5.5%[20] - Current liabilities decreased to ¥1,322,484,692.26 from ¥1,512,079,632.70, a decline of about 12.5%[17] - Long-term borrowings increased to ¥354,717,321.85 from ¥260,798,850.50, an increase of approximately 35.8%[17] Shareholder Information - Total number of common shareholders at the end of the reporting period is 8,933[12] - Hunan Yanjin Puzhi Holdings Co., Ltd. holds 37.24% of shares, totaling 101,601,157 shares[12] Other Financial Metrics - The company's financial expenses rose by 50.79% to ¥5,512,822.50, compared to ¥3,655,918.02 in the same period last year[10] - The company reported a significant increase in prepayments, which rose by 145.02% to ¥207,457,435.33, indicating increased procurement activities[10] - The company experienced a 77.85% decrease in investment income, down to ¥166,584.03 from ¥752,095.76 in the previous year[10] - Research and development expenses for Q1 2025 were ¥17,379,232.04, up 9.6% from ¥15,846,939.15 in Q1 2024[20] - Other income for Q1 2025 was ¥34,544,468.90, slightly up from ¥33,792,297.65 in the previous year, showing a growth of 2.2%[20] Audit Status - The first quarter report was not audited, indicating that the figures may be subject to adjustments[25]

从中证1000质量指数持仓的市场板块来看，深圳证券交易所占比54.21%、上海证券交易所占比 45.79%。 从中证1000质量指数持仓样本的行业来看，医药卫生占比24.45%、工业占比18.35%、信息技术占比 14.63%、可选消费占比9.77%、金融占比9.69%、通信服务占比8.13%、主要消费占比6.02%、原材料占 比5.64%、公用事业占比2.49%、能源占比0.44%、房地产占比0.38%。 资料显示，指数样本每半年度调整一次，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。权重因子随样本定期调整而调整，调整时间与指数样本定期调整实施时间相同。在下一个定 期调整日前，权重因子一般固定不变。每次调整的样本数量一般不超过30%。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。 金融界4月21日消息，上证指数低开高走，中证1000质量指数 (1000质量，932434)报2797.96点。 数据统计显示，中证1000质量指数近一个月下跌8.35%，近三个月上涨1.30%，年至今下跌1.62% ...

Investment Rating - The report maintains a "Recommended" investment rating for the food and beverage industry, indicating an expected outperformance of over 10% compared to the market index [10]. Core Insights - The March retail sales data exceeded expectations, with a total of 40,940 billion yuan, reflecting a year-on-year growth of 5.9%, driven by the effects of the "old-for-new" policy [5]. - The restaurant sector showed strong resilience, with March dining revenue reaching 4,235 billion yuan, a 5.6% increase year-on-year, supported by policies aimed at expanding domestic demand [6]. - The report highlights specific investment opportunities in various segments, including high-performance liquor brands and efficient dairy producers, as well as emerging snack and beverage companies [7]. Summary by Sections Market Performance - The food and beverage sector has shown mixed performance over different time frames, with a decline of 2.9% over the last month and a 5.7% increase over the last three months, while the Shanghai and Shenzhen 300 index has decreased by 5.6% in the last month but increased by 5.8% over the last year [1]. Retail Sales Data - In the first quarter of 2025, the total retail sales amounted to 124,671 billion yuan, marking a year-on-year increase of 4.6% [5]. - The significant growth in retail sales of optional consumer goods, such as home appliances and furniture, was noted, with increases of 35.1%, 29.5%, and 28.6% respectively [5]. Investment Opportunities - The report recommends specific companies within the liquor sector, such as Shanxi Fenjiu and Shede Liquor, which are expected to show high performance due to low base effects [7]. - In the dairy sector, companies like Modern Farming and Youran Dairy are highlighted for their cost efficiency and production advantages [7]. - The snack food segment is also seen as having growth potential, with recommendations for companies like Wancheng Group and Youyou Foods, which are expected to benefit from channel expansions and new product categories [7].

Investment Rating - The report maintains a "Recommendation" rating for the food and beverage industry, particularly highlighting the white wine sector as it is expected to clear and stabilize, with gradual improvements in the mass market [1]. Core Insights - The white wine sector is currently in a clearing and bottoming phase, with expectations for marginal improvement in the second half of the year. The industry has seen risks transition from off-balance sheet channels to on-balance sheet for most listed companies, leading to a slight slowdown in payment and delivery progress in Q1. However, leading companies have largely completed their initial targets for the year [4][9]. - In the mass market, beer shows signs of marginal improvement, with standout performance in the snack category, particularly for konjac products. The dairy sector is expected to rebound in Q2 after a period of adjustment [19][25]. Summary by Sections White Wine Sector - The white wine sector is in a clearing and bottoming phase, with expectations for improvement in the second half of the year. Q1 saw a slowdown in payment and delivery, but leading companies have met their initial targets [4][9]. - High-end brands like Moutai and Wuliangye are expected to see revenue and profit growth of approximately 9% and 10%, and 4% and 3% respectively in Q1 [10][12]. - The mid-range segment is experiencing varied performance, with brands like Fenjiu and Gujing showing growth, while others like Yanghe are facing challenges [10][12]. Mass Market - The beer sector is showing signs of recovery, with leading brands like Qingdao and Yanjing achieving revenue growth of 4% and 6% respectively in Q1 [26][29]. - The snack segment, particularly konjac products, is performing well, with brands like Salted and Wei Long seeing significant growth [19][25]. - The dairy sector is expected to improve as inventory levels stabilize, with companies like Yili and Mengniu showing resilience [25]. Investment Recommendations - The report suggests bottom-fishing in the white wine sector, with a focus on brands like Moutai, Wuliangye, and Fenjiu, while also recommending attention to the mass market for potential turning points in beer and dairy [5][19].