证券代码：002956 证券简称：西麦食品 公告编号：2025-025 桂林西麦食品股份有限公司 关于公司高管减持计划实施完成的公告 公司高管张志雄保证向本公司提供的信息真实、准确、完整、没有虚假 记载、误导性陈述或重大遗漏。 （一）股东减持情况 | 股东名 | 减持方式 | 减持期间 | | | 减持均价 | 减持股数 | 减持比 | | --- | --- | --- | --- | --- | --- | --- | --- | | 称 | | | | | （元/股） | （股） | 例（%） | | | 大宗交易 集中竞价 | | | | | | | | 张志雄 | | 年 月 2025 | 6 | 日 4 | 24.00 | 7,500 | 0.0034 | | | 合计 | | | | 24.00 | 7,500 | 0.0034 | 1．股东减持计划实施情况 通过集中竞价方式减持的价格为 24.00 元/股。 2．减持股份来源 张志雄先生本次减持的股份，系公司 2021 年限制性股票激励计划以及该等 股份通过资本公积金转增股本取得的股份。 本公司及董事会全体成员保证公告内容与信息披露义务人提供的 ...

| | ☑特定对象调研 □分析师会议 | | --- | --- | | 投资者关系 | □媒体采访 □业绩说明会 | | 活动类别 | □新闻发布会 □路演活动 | | | ☑现场参观 □其他（线上交流会） | | 参与单位名 | 深交所投资者服务部、申万宏源证券组织的投资者"走进上市公司"一行个人 | | 称及人员 | 投资者 33 人 | | 时间 | 2025 年 5 月 27 日 14：30-16：00 | | 地点 | 广西贺州西麦生物食品有限公司 | | 形式 | 线下 | | 上市公司 接待人员 | 证券事务代表：何剑萍 | | | 公司工作人员带领投资者参观公司展厅、部分生产车间，讲解企业发展历程、 | | | 核心业务，主要产品。向投资者介绍公司近年来的整体发展情况和未来发展规 | | | 划，并就投资者关注的问题进行了交流。 | | | Q1：2025 年一季度公司营收和利润增长主要来自于哪些方面？ | | | A1：春节在一季度，是传统的销售旺季：1、电商一季度增速较高。一季度电 | | 投资者关系 | 商的增长主要来自于传统电商平台，传统电商平台盈利能力高于兴趣电商平 | | 活动主 ...

Q6：公司去年海外业务做得怎么样？对业绩贡献如何？ A6：目前，公司海外业务仍处于探索、培育阶段，未来，公司将继续拓展海 外市场，增加海外销售渠道和销售规模。 Q7：公司在燕麦行业处于什么地位？ | | □特定对象调研 □分析师会议 | | --- | --- | | 投资者关系 | □媒体采访 ☑业绩说明会 | | 活动类别 | □新闻发布会 □路演活动 | | | □现场参观 □其他（线上交流会） | | 参与单位名 | 网络投资者 | | 称及人员 | | | 时间 | 2025 年 5 月 20 日 15：00-16：00 | | 地点 | 深圳证券交易所"互动易"平台（http://irm.cninfo.com.cn）"云访谈"栏 | | 形式 | 网络调研 | | 上市公司 | 总经理：孟祥胜 董事、董秘、副总经理：谢金菱 财务总监：张志雄 独立董 | | 接待人员 | 事：董舟江 | | | Q1：公司目前还有哪些比较有潜力的产品？ | | | A1：第一，燕麦+复合类的产品，公司会持续进行产品更新迭代。目前从数据 | | | 上看较符合公司预期，燕麦+过去几年持续保持了比较高的增长，从销售数据 ...

证券代码：002956 证券简称：西麦食品 公告编号：2025-024 桂林西麦食品股份有限公司 2024 年度股东大会决议公告 本公司及董事会全体成员保证信息披露内容的真实、准确、完整、没有虚 假记载、误导性陈述或重大遗漏。 重要提示 1、本次股东大会无变更、否决提案的情况； 2、本次股东大会未涉及变更以往股东大会已通过的决议。 一、会议召开情况 1、会议召集人：桂林西麦食品股份有限公司（以下简称"公司"）董事会。 2、会议地点：广西桂林高新技术开发区九号小区 3 楼会议室。 3、会议方式：本次会议采取现场投票和网络投票相结合的方式。 4、会议时间： 现场会议时间：2025 年 5 月 19 日 14：00 网络投票时间：2025 年 5 月 19 日 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 2025 年 5 月 19 日上午 9:15-9:25、9:30-11:30，下午 13:00-15:00；通过深交所互联网投票系 统（http://wltp.cninfo.com.cn）投票的具体时间为：2025 年 5 月 19 日上午 9： 15 至下午 15：00 期间的任意时间。 6、会议主持人： ...

中国深圳市福田区益田路6001号太平金融大厦11-12楼 邮政编码：518038 11F-12F Taiping Finance Tower, 6001Yitian Road, Futian District, Shenzhen, PRC 电话（Tel）：（0755）88265288 传真（Fax）：（0755）88265537 电子邮件（E-mail）：info@ sundiallawfirm.com 网站（Website）：www.sundiallawfirm.com 广东信达律师事务所 股东大会法律意见书 广东信达律师事务所 关于桂林西麦食品股份有限公司 2024 年度股东大会的 法律意见书 信达会字（2025）第 155 号 致：桂林西麦食品股份有限公司 广东信达律师事务所（以下简称"信达"）接受桂林西麦食品股份有限公司 （以下简称"公司"）的委托，指派信达律师参加公司 2024 年度股东大会（以 下简称"本次股东大会"），并进行必要的验证工作。信达指派的律师对本次股 东大会的合法性进行见证，并出具本《广东信达律师事务所关于桂林西麦食品股 份有限公司 2024 年度股东大会的法律意见书》（下称"《股东 ...

Summary of Ximai Foods Conference Call Company Overview - Ximai Foods is a leading oat company in China, focusing on healthy oat grain products and has become the market leader in domestic market share through channel development and product innovation [2][6][15]. Industry Insights - The Chinese breakfast cereal market is approximately 100 billion RMB, with oats experiencing the fastest growth. Aging population and health consciousness are the core drivers of industry development, leading to increased demand for oat products [5][13][14]. - The market potential remains significant as per capita consumption and spending are expected to rise with increasing income levels [5][13]. Financial Performance - Ximai Foods is expected to have strong profit elasticity in 2025, with a projected profit growth of 33% due to a 10% year-on-year decrease in Australian oat raw material prices [4][23]. - The gross margin is anticipated to improve, with a historical range of 43%-45% [8][23]. - The company has maintained a stable expense ratio, benefiting from economies of scale due to revenue growth [9]. Business Strategy - The company has a stable shareholding structure, with the chairman's family holding approximately 54% of shares. A new employee stock ownership plan was launched in February 2025, targeting a compound annual growth rate of 15% over the next three years [7]. - Ximai Foods' core business includes pure oats, compound oats, and snack series, with compound oats' sales ratio increasing from 24% in 2020 to 45% in 2024 [2][10]. Regional Performance - The southern region has shown significantly higher growth compared to the northern region, with market share increasing from 41% to around 60% [11]. - Distribution remains the dominant sales model, but direct sales are increasing, particularly in snack wholesale and e-commerce channels [11][19]. Product Development - Ximai Foods has strong capabilities in product development, focusing on health trends and launching new products like oat milk and protein powder [17]. - The company has also expanded into the oat milk market, which is rapidly growing, with a market size of approximately 10 billion RMB in 2023 [17]. Competitive Landscape - Ximai Foods holds a 26% market share in the Chinese breakfast cereal market, having surpassed competitors since 2021 [15]. - The industry concentration is relatively low compared to international markets, indicating potential for further consolidation [15]. Marketing and Branding - The company invests heavily in brand marketing, with a sales expense ratio exceeding 30%, significantly higher than other companies in the snack food industry [20]. - Ximai Foods aims to establish a professional and high-quality brand image while engaging with younger consumers through social media platforms [20]. Future Outlook - Ximai Foods is expected to maintain a compound growth rate of 20% in the coming years, driven by industry growth and competitive advantages in channels and products [24]. - The company is well-positioned to leverage cost reductions and scale effects to enhance profit margins, maintaining a positive investment rating [24].

Investment Rating - The report assigns a "Buy" rating for the company, indicating a positive outlook based on its market position and growth potential [8]. Core Insights - The company has maintained its leading position in the Chinese oat grain market for over 20 years, benefiting from the aging population and increasing health consciousness among younger consumers [7]. - Revenue for 2024 reached 1.896 billion yuan, a year-on-year increase of 20.2%, with a net profit of 133 million yuan, up 15.4% [4]. - The company is expected to achieve revenue growth of 20% in 2025 and 2026, with net profit growth of 35% in 2025 and 24% in 2026 [7]. Financial Performance - In Q1 2025, the company reported revenue of 656 million yuan, a year-on-year increase of 15.9%, and a net profit of 55 million yuan, up 21.2% [4]. - The gross margin for 2024 was 41.3%, down 3.2 percentage points year-on-year, primarily due to rising raw material costs [4]. - The company’s online sales grew over 17% year-on-year, with significant contributions from platforms like Douyin, where it achieved a GMV of 468 million yuan [4]. Product and Channel Development - The company has seen positive growth across all product categories, with compound oat products experiencing the fastest growth at 29% [4]. - Offline sales increased by 14% year-on-year, with snack wholesale channels growing nearly 50% [4]. - The company’s product structure is continuously upgrading, with successful launches in the oat + series and milk oat series, each exceeding 200 million yuan in sales [4]. Future Projections - The forecast for 2025-2027 indicates revenues of 2.277 billion yuan, 2.722 billion yuan, and 3.219 billion yuan, respectively, with corresponding net profits of 180 million yuan, 224 million yuan, and 274 million yuan [6]. - The expected EPS for 2025, 2026, and 2027 are 0.81 yuan, 1.00 yuan, and 1.23 yuan, respectively, with P/E ratios decreasing from 26.37 to 17.36 over the same period [6][7].

证券代码：002956 证券简称：西麦食品 公告编号：2025-023 桂林西麦食品股份有限公司 关于为子公司提供担保的进展公告 本公司及董事会全体成员保证信息披露内容的真实、准确、完整、没有 虚假记载、误导性陈述或重大遗漏。 一、担保情况概述 桂林西麦食品股份有限公司（以下简称"公司"）2024 年 12 月 6 日召开第 三届董事会第十二次会议，2024 年 12 月 24 日召开 2024 年第一次临时股东大会 审议通过了《关于申请银行授信额度暨为下属公司提供担保的议案》，同意公司 及合并报表范围内下属公司向银行申请不超过 6.8 亿元的贷款授信额度，且公司 为合并报表范围内下属公司就前述授信事项提供担保，公司担保额度总计不超过 6.8 亿元（该预计担保额度可循环使用）：其中公司拟为资产负债率 70%以上的下 属公司担保的额度为 1.7 亿元，为资产负债率 70%以下的下属公司担保的额度为 5.1 亿元。具体内容详见公司 2024 年 12 月 25 日披露于巨潮资讯网 （www.cninfo.com.cn）的相关公告。 二、担保进展情况 公司与交通银行股份有限公司宿迁分行于近日签署了《保证合同》。根据 ...

桂林西麦食品股份有限公司 关于召开 2024 年度业绩说明会的公告 本公司及董事会全体成员保证信息披露内容的真实、准确、完整、没有 虚假记载、误导性陈述或重大遗漏。 桂林西麦食品股份有限公司（以下简称"公司"）为加强投资者关系管理， 便于广大投资者更深入、全面了解公司 2024 年年度报告和经营情况，拟于 2025 年 5 月 20 日召开 2024 年度业绩说明会，将针对投资者关心的问题与广大投资者 进行在线交流和沟通，欢迎广大投资者积极参与。 一、网上业绩说明会的安排 1．召开时间：2025 年 5 月 20 日 15：00-16：00 2．出席人员：公司总经理孟祥胜先生，董事、副总经理、董事会秘书谢金 菱女士，独立董事董舟江先生，财务总监张志雄先生。 3．参与方式：本次业绩说明会将采用网络远程文字交流的方式召开，可登 录深圳证券交易所"互动易"平台（http://irm.cninfo.com.cn）进入"云访谈"栏 目参与本次年度业绩说明会。 证券代码：002956 证券简称：西麦食品 公告编号：2025-022 二、征集问题事项 为充分尊重投资者、提升交流的针对性，现就公司 2024 年度业绩说明会提 ...

Core Viewpoint - The company reported strong revenue growth and profitability in 2024 and Q1 2025, driven by its core oat business and expansion into new retail channels [1][2][3]. Financial Performance - In 2024, the company achieved revenue of 1.9 billion yuan, a year-on-year increase of 20.2%, and a net profit attributable to shareholders of 130 million yuan, up 15.4% [1]. - For Q1 2025, revenue reached 660 million yuan, reflecting a year-on-year growth of 15.9%, with a net profit of 60 million yuan, increasing by 21.2% [1]. Product Performance - The company's main oat products, including pure oat flakes, compound oat flakes, and cold oat products, generated revenues of 710 million, 850 million, 150 million, 140 million, and 50 million yuan respectively, with growth rates of 9.6%, 28.8%, 24.1%, 23.9%, and 25.3% [2]. - The "Oat+" series and the classic milk oat series each surpassed 200 million yuan in sales, with the "Oat+" series growing over 20% and the milk oat series over 30% year-on-year [2]. Channel Development - The company emphasized the development of direct sales channels, achieving revenue of 830 million yuan from direct sales, a year-on-year increase of 31.0% [2]. - Online sales, particularly through traditional e-commerce and social e-commerce platforms like Douyin, saw significant growth, with Douyin's GMV reaching 470 million yuan, up 20.3% year-on-year [2]. Cost and Profitability - The gross margin for 2024 was 41.3%, a decrease of 3.2 percentage points year-on-year, primarily due to rising raw material costs and low capacity utilization of new production facilities [3]. - The net profit margin for 2024 was 7.0%, down 0.3 percentage points year-on-year, but improved to 8.3% in Q1 2025, reflecting a 0.3 percentage point increase [3]. Strategic Expansion - The company is expanding its product range beyond oats, developing new products such as instant porridge, lotus root powder, sesame paste, and probiotic protein powder, while also pursuing strategic partnerships and acquisitions [3][4]. - The company is actively embracing new retail channels, including snack wholesale, Douyin e-commerce, and membership stores, leading to rapid growth [4]. Market Outlook - The company forecasts net profits of 180 million, 230 million, and 280 million yuan for 2025-2027, with corresponding EPS of 0.81, 1.01, and 1.24 yuan [4]. - As a leading player in the oat industry, the company is expected to benefit from market expansion and increased concentration, with potential for profit improvement in the future [4].