Financial Performance - The company reported a total investment income of ¥1,790,533.67, accounting for 0.31% of total profit, primarily from financial management income [18]. - The company recognized an asset impairment loss of ¥740,840.99, which represents -0.13% of total profit, mainly due to inventory write-downs [18]. - Other income amounted to ¥60,014,441.86, making up 10.46% of total profit, primarily from government subsidies, indicating a sustainable focus on the core business of leisure food [18]. - The company's operating revenue for 2023 reached ¥4,115,175,423.46, representing a 42.22% increase compared to ¥2,893,520,454.12 in 2022 [58]. - Net profit attributable to shareholders for 2023 was ¥505,773,918.21, a 67.76% increase from ¥301,492,878.19 in the previous year [58]. - The net profit after deducting non-recurring gains and losses was ¥476,234,230.93, up 72.84% from ¥275,551,050.86 in 2022 [58]. - The company's cash flow from operating activities for 2023 was ¥664,033,786.96, reflecting a 56.04% increase compared to ¥425,547,974.26 in 2022 [58]. - Basic earnings per share for 2023 were ¥2.64, a 66.04% increase from ¥2.40 in 2022 [58]. - The company reported a net cash increase of ¥112,740,032.41, reflecting a 45.57% increase compared to the previous year [87]. Research and Development - The company has completed its annual R&D goals for several projects, including the development of a high-transparency konjac jelly production process, which aims to enhance product quality and market competitiveness [6]. - The number of R&D personnel decreased by 32.08% from 240 in 2022 to 163 in 2023, with a corresponding drop in the proportion of R&D staff from 6.80% to 3.90% [6]. - The company's R&D investment increased by 7.37% to ¥79,751,445.60, but the proportion of R&D investment to operating revenue decreased from 2.57% to 1.94% [86]. - The company is actively engaged in R&D projects, including the development of ice cream pudding and low-fat whole wheat bread, aimed at enhancing product competitiveness and consumer satisfaction [153]. - The company has a strong R&D team focused on market needs, leading to innovations in product formulations and production processes [110]. Market Strategy and Expansion - The company has diversified its product offerings, including new categories such as baked goods and jelly puddings since 2018 [49]. - The company aims to improve consumer satisfaction and market competitiveness through innovative product development and quality enhancement [6]. - The company plans to expand its market presence through continuous product innovation and enhanced brand building to adapt to competitive pressures [68]. - The company has established a marketing headquarters to manage direct supermarket channels, distributor channels, and online e-commerce channels [72]. - The company is expanding its market presence by developing new retail channels, including community group buying and live streaming sales [79]. - The company aims to enhance its brand influence and channel strength through collaborations with popular snack brands and social media marketing [79]. - The company intends to expand its presence in lower-tier cities and enhance its community group buying and instant snack offerings [176]. Supply Chain and Production - The company has a complete and independent supply, production, and sales system, ensuring operational independence and compliance with regulations [3]. - The company has adopted a digitalized supply chain management system to enhance production efficiency and product quality [48]. - The company maintains a procurement model based on production plans, ensuring quality and cost-effectiveness in sourcing raw materials [96]. - The company has established a comprehensive product system focusing on seven major categories, including spicy snacks, potato snacks, deep-sea snacks, and baked goods, with a brand matrix that includes "Salted Fish" and "31° Fresh" among others [107]. - The company has implemented advanced production techniques and automation to enhance product quality and safety while improving production efficiency [109]. Marketing and Sales - The company reported a significant increase in user engagement through digital marketing strategies, leveraging social media and e-commerce platforms to reach consumers directly [65]. - The e-commerce channel revenue reached 82,839.83 million in 2023, representing 20.13% of total revenue, up from 14.45% in 2022 [84]. - The company has implemented a direct sales model with large chain supermarkets, enhancing market responsiveness and consumer engagement [117]. - The company has established a comprehensive multi-channel marketing network, enhancing its competitive advantage in the snack food industry [90]. - The company emphasizes a multi-channel marketing strategy, integrating direct sales, distributors, and e-commerce to mitigate channel dependency risks [104]. Financial Management - The company has a cash dividend payout ratio that has consistently exceeded 100% in recent years, with a total cash dividend of 947 million yuan since its listing [191]. - The company prioritizes high cash dividends, reflecting a strong commitment to investor returns [200]. - The company has established a rigorous product traceability system, utilizing ERP, WMS, and LIMS systems to monitor the entire process from raw material procurement to finished product sales [113]. Corporate Governance and Social Responsibility - The company emphasizes the importance of corporate governance and aims to enhance the protection of minority investors' rights and interests through improved internal control systems [198]. - The management will continue to enhance the company's governance level and operational efficiency to improve core competitiveness and sustainable development capabilities [198]. - The company is committed to social responsibility and will continue to engage in public welfare activities [178]. - The company has committed to social responsibility initiatives, particularly in education and rural development, to contribute to community welfare [186].

证 券 研 究 报 告 本报告导读： 公 司 更 新 报 告 景气延续，趋势向好 公司 2023 年多品类、全渠道策略成功，叠加单品规模效应释放，业绩弹性凸显；2024Q1 | --- | --- | --- | --- | --- | --- | |--------------------------------------|-------|-------|-------|-------|-------| | [Table_Finance] 财务摘要（百万元） | 2022A | 2023A | 2024E | 2025E | 2026E | | 营业收入 | 2,894 | 4,115 | 5,354 | 6,619 | 8,020 | | (+/-)% | 27% | 42% | 30% | 24% | 21% | | 经营利润（ EBIT ） | 358 | 614 | 766 | 988 | 1,268 | | (+/-)% | 88% | 72% | 25% | 29% | 28% | | 净利润（归母） | 301 | 506 | 686 | 887 | 1,145 | | (+/-)% | 1 ...

Investment Rating - The report assigns a "Buy-A" investment rating to the company, with a target price of 97.78 yuan over the next six months, reflecting a dynamic price-to-earnings ratio of 28X for 2024 [17][19]. Core Insights - The company achieved a revenue of 4.1152 billion yuan in 2023, representing a year-on-year growth of 42.22%, and a net profit of 505.8 million yuan, up 67.76% year-on-year [2][4]. - The strategic focus has shifted to "channel supremacy, product leadership, and system protection," aiming for comprehensive channel coverage and product diversification [3][5]. - The company is expected to maintain strong growth momentum, with projected revenue growth rates of 28.1%, 22.6%, and 21.2% for 2024 to 2026, and net profit growth rates of 35.5%, 26.5%, and 24.4% respectively [17][19]. Financial Performance - In 2023, the company reported a net profit margin of 12.47%, an increase of 2.04 percentage points year-on-year, with a gross margin of 33.54% [4][6]. - The company’s revenue from e-commerce channels surged by 98.04% year-on-year, indicating a strong performance in online sales [3][5]. - The company’s total revenue is projected to reach 5.271 billion yuan in 2024, with a net profit forecast of 685.1 million yuan [6][8]. Market Position and Strategy - The company has expanded its distribution channels significantly, increasing the number of distributors by 832 to a total of 3,315, which has enhanced its market reach [3][4]. - The focus on developing key products such as quail eggs and konjac snacks has positioned the company for differentiated competition in the market [3][5]. - The report highlights the importance of supply chain optimization and lean production in enhancing profit margins and maintaining pricing power [5][6].

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2023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2023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2023年履职情况报告如下： 一、独立董事的基本情况 （一）基本情况 刘灿辉，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 ...

证券代码：002847 证券简称：盐津铺子 公告编号：2024-016 盐津铺子食品股份有限公司 关于2024年度日常关联交易预计的公告 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。 公司于2024年3月26日召开第四届董事会第七次会议、第四届监事会第六次 会议审议通过了《关于公司2024年度日常关联交易预计的议案》，2024年公司因 日常经营需要向关联方购买、销售货物或提供、接受劳务等计划关联交易总额预 计为58,900.00万元（去年实际发生金额为31,641.95万元）。除回避的董事外，其 他董事、监事一致同意。独立董事已经召开独立董事专门会议并发表了明确的同 意意见。 该议案尚需提交公司2023年度股东大会审议。 一、日常关联交易基本情况 | | | | | | 实际发 | 实际发 | 披 露 | | --- | --- | --- | --- | --- | --- | --- | --- | | 关联交 | | 关联交 | 实际发生 | 预计交易 | 生额占 | 生额与 | 日 期 | | 易类别 | 关联人 | 易内容 | 金额 | 金额 | ...

证券代码：002847 证券简称：盐津铺子 公告编号：2024-014 盐津铺子食品股份有限公司 关于2023年度利润分配及公积金转增股本预案的公告 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。 重要内容提示： 1、每10股派发现金红利15元（含税），不送红股，以资本公积金中的股本 溢价向全体股东每10股转增4股。 3、在实施权益分派的股权登记日前公司总股本的基数发生变化的，维持每 股分派比例不变，相应调整分派总额，并将另行公告具体调整情况。 一、利润分配预案基本情况 盐津铺子食品股份有限公司（以下简称"公司"）于2024年3月26日召开的 第四届董事会第七次会议、第四届监事会第六次会议审议通过了《关于<2023年 度利润分配及公积金转增股本预案>的议案》，该议案需提交公司2023年度股东 大会审议通过后方可实施。具体情况如下： 经天健会计师事务所（特殊普通合伙）审计出具的天健审【2024】2-72号《审 计报告》确认：公司2023年度合并报表归属于上市公司股东的净利润为 505,773,918.21元，母公司实现净利润为382,347,087.09元。 根 ...

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2023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2023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2023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，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、长沙理 ...

证券代码：002847 证券简称：盐津铺子 公告编号：2024-010 盐津铺子食品股份有限公司 2024年第一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 3 月 26 日下午 14:30 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 3 月 26 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 3 月 26 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。 （三）会议召集人：盐津铺子食品股份有限公司董事会。 （四）会议召开方式：本次股东大会采取现场投票与网络投票相结合的 ...

证券代码：002847 证券简称：盐津铺子 公告编号：2024-020 盐津铺子食品股份有限公司 关于公司会计政策变更的公告 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。 特别提示： 盐津铺子食品股份有限公司（以下简称"公司"）根据中华人民共和国财政 部（以下简称"财政部"）印发的《企业会计准则解释第 17 号》（财会【2023】 21 号，以下简称"准则解释 17 号"）的要求变更会计政策。本次变更后的会计 政策更能准确的反映公司财务状况和经营成果，不会对公司当期的财务状况、经 营成果和现金流量产生重大影响，不存在损害公司及股东合法权益的情况。 公司于 2024 年 3 月 26 日召开了第四届董事会第七次会议和第四届监事会 第六次会议审议通过了《关于公司会计政策变更的议案》。根据《深圳证券交易 所股票上市规则》等的相关规定，本次会计政策变更事项无需提交公司股东大会 审议，具体情况如下： 一、会计政策变更概述 1、变更原因及日期 二、本次会计政策变更对公司的影响 本次会计政策变更是公司根据财政部发布的相关文件要求进行的变更，变更 后的会计政策能够客观、公允 ...

盐津铺子食品股份有限公司 盐津铺子食品股份有限公司 监事会关于公司 2023 年度内部控制自我评价报告的 审核意见 监 事 会 2024 年 3 月 27 日 根据《公司法》《深圳证券交易所股票上市规则》等相关法律、法规和规章 制度的要求，依据财政部、中国证券监督管理委员会等部委联合发布的《企业内 部控制基本规范》和《企业内部控制配套指引》以及《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》，盐津铺子食品股份有限公司（以 下简称"公司"）监事会认真审阅了公司 2023 年度内部控制自我评价报告并发 表审核意见如下： 1、公司根据《企业内部控制基本规范》及其配套指引的规定，建立了较为 完善的内部控制制度体系，符合公司现阶段经营管理的发展需求，保证了公司正 常业务活动的有序、有效开展，保证了经营管理的合法合规与资产安全，维护了 公司及股东的利益。 2、2023 年度，未发现公司有违反《企业内部控制基本规范》及相关规定的 情形发生。 综上，公司监事会认为：公司 2023 年度内部控制自我评价报告客观、真实 地反映了公司内部控制体系建设和运作的实际情况。 盐津铺子食品股份有限公司 盐津铺子食品 ...