GANYUAN FOODS CO.(002991)

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2025年中国开心果行业市场政策、产业链图谱、供需现状、进出口贸易、竞争格局及发展趋势研判:线上销售渠道占比逐年攀升,达38.3%[图]
Chan Ye Xin Xi Wang· 2025-07-10 01:52
内容概要:随着国民生活水平提高和消费观念转变,对健康零食的需求不断增加,开心果富含蛋白质、 维生素E和单不饱和脂肪酸等营养成分,符合消费者对健康食品的追求,近年来市场需求持续增长,据 统计,2024年我国开心果需求量达23.51万吨,市场规模227.11亿元,而同年我国开心果产量仅8.11万 吨,因此每年均需大量进口。 上市企业:三只松鼠(300783)、洽洽食品(002557)、甘源食品(002991)、盐津铺子(002847)、 来伊份(603777)、良品铺子(603719) 相关企业:安徽味滋源食品有限公司、广东南兴天虹果仁制品有限公司、童年记食品有限公司、青岛沃 隆食品股份有限公司、罗乐食品贸易(上海)有限公司、杭州郝姆斯食品有限公司、杭州勤耕食品科技 有限公司 关键词:开心果市场政策、开心果产业链、开心果需求量、开心果市场规模、开心果竞争格局、开心果 发展趋势 一、概述 开心果,学名为阿月浑子(拉丁学名:PistaciaveraL.),是漆树科黄连木属的多年生落叶果树,也是一 种兼具食用、药用和生态价值的重要经济作物。开心果是一种营养丰富的坚果,据测定,每100克开心 果中含有蛋白质20-25克、 ...
食品饮料行业周报:重视新品类和新渠道下的α机会-20250707
Donghai Securities· 2025-07-07 12:31
[Table_Reportdate] 2025年07月07日 [证券分析师 Table_Authors] 姚星辰 S0630523010001 yxc@longone.com.cn 证券分析师 吴康辉 S0630525060001 wkh@longone.com.cn -20% -10% 0% 10% 20% 30% 2024-07 2024-09 2024-11 2025-01 2025-03 2025-05 2025-07 食品饮料(申万) 沪深300 [相关研究 table_product] [Table_NewTitle 重视新品类和新渠道下的α机会 ] ——食品饮料行业周报(2025/6/30-2025/7/6) 超配 [table_main] 投资要点: ➢ 风险提示:宏观经济增长不及预期;竞争加剧的影响;食品安全的影响。 行 业 研 究 食 品 饮 料 证券研究报告 HTTP://WWW.LONGONE.COM.CN 请务必仔细阅读正文后的所有说明和声明 行 业 周 报 [table_invest] 1.政策纠偏情绪修复,聚焦供需改善 方 向 — — 食 品 饮 料 行 业 周 报 (2025/ ...
证券代码:002991 证券简称:甘源食品 公告编号:2025-022
Zhong Guo Zheng Quan Bao - Zhong Zheng Wang· 2025-06-12 23:05
Fundraising Overview - The company has approved the public issuance of 23.304 million shares at a price of RMB 38.76 per share, raising a total of RMB 903,263,040, with a net amount of RMB 837,038,548.69 after deducting issuance costs [2][3] - The funds will be managed in a dedicated account, and agreements have been signed with the sponsoring institution and the bank for fund supervision [2][3] Fund Management Agreements - The company has established a special account for fundraising and signed a tripartite supervision agreement with China Industrial Bank and Guosen Securities [3][4] - The special account is exclusively for the sixth phase of production construction project, with a current balance of zero as of June 10, 2025 [4][5] - The company is required to notify the sponsoring institution if withdrawals exceed RMB 50 million or 20% of the net fundraising amount [6][10] Regulatory Compliance - The agreements are in accordance with relevant laws and regulations to protect the rights of small investors [3][9] - The sponsoring institution is responsible for supervising the use of funds and must conduct semi-annual inspections [6][10] - Any violations of the agreements will result in liability for damages to the non-breaching party [7][11] Additional Agreements - A four-party supervision agreement has also been established, including the company's wholly-owned subsidiary, to manage funds for marketing network upgrades and brand promotion [9][12] - Similar conditions apply regarding the management and use of funds, including the requirement for monthly account statements [10][11]
甘源食品(002991) - 关于变更部分募集资金投资项目后签订募集资金三方监管协议和四方监管协议的公告
2025-06-12 03:46
证券代码:002991 证券简称:甘源食品 公告编号:2025-022 甘源食品股份有限公司 关于变更部分募集资金投资项目后 签订募集资金三方监管协议 和四方监管协议的公告 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。 一、募集资金基本情况 经中国证券监督管理委员会《关于核准甘源食品股份有限公 司首次公开发行股票的批复》(证监许可〔2020〕664 号)核准, 并经深圳证券交易所同意,甘源食品股份有限公司(以下简称"公 司")向社会公开发行人民币普通股(A 股)2,330.40 万股(每 股面值人民币 1.00 元),发行价格为每股人民币 38.76 元,本次 发行新股募集资金总额合计人民币 903,263,040.00 元,扣减发行 费用人民币(不含税)66,224,491.31 元后,募集资金净额为人民 币 837,038,548.69 元。上述募集资金到位情况已经天健会计师事 务所(特殊普通合伙)审验确认,并于 2020 年 7 月 29 日出具了 天健验【2020】3-62 号《验资报告》。公司已对募集资金采取专 户存储管理,并与保荐机构、募集资金专 ...
甘源食品股份有限公司关于2022年员工持股计划首次授予部分第三个锁定期届满的提示性公告
Shang Hai Zheng Quan Bao· 2025-06-04 20:34
Core Viewpoint - The announcement details the expiration of the third lock-up period for the employee stock ownership plan (ESOP) of Ganyuan Foods, highlighting the conditions and implications of the plan's execution and stock release [1][2][8]. Group 1: Employee Stock Ownership Plan Overview - The ESOP was approved in meetings held on April 27, 2022, and May 19, 2022, with the first grant's third lock-up period set to expire on June 6, 2025 [1][2]. - The stock involved in the ESOP comes from shares repurchased by the company, with a total repurchase fund ranging from RMB 60 million to RMB 120 million [2][3]. Group 2: Stock Repurchase Details - As of January 7, 2022, the company repurchased a total of 1,255,793 shares, accounting for 1.35% of the total share capital, with a total expenditure of approximately RMB 60 million [3][4]. - The repurchased shares were transferred to the ESOP account at a price of RMB 25.66 per share [5]. Group 3: Lock-up Period and Release Conditions - The first lock-up period ended on June 6, 2023, allowing for the release of 358,288 shares, while the second period will end on June 6, 2024, releasing 358,250 shares [6]. - The third lock-up period will release 477,755 shares, which is 40% of the total shares granted in the first phase of the ESOP [7]. Group 4: Future Arrangements Post Lock-up - Due to unmet performance targets, all shares eligible for release during the lock-up periods will not be unlocked, and the rights will be reclaimed by the management committee [8]. - The company will adhere to market trading rules and regulations regarding stock trading during specified periods [8]. Group 5: Plan Duration and Changes - The ESOP has a duration of 60 months, starting from the date of the last stock transfer to the ESOP account [11]. - The plan can be extended with the approval of two-thirds of the participating holders [11][12]. Group 6: Accounting Treatment - The company will follow the accounting standards for share-based payments, with the impact on financial results to be confirmed by annual audit reports [13].
甘源食品(002991) - 2024年年度权益分派实施公告
2025-06-04 13:15
证券代码:002991 证券简称:甘源食品 公告编号:2025-021 甘源食品股份有限公司 2024 年年度权益分派实施公告 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《中华人民共和国公司法》《深圳证券交易所上市公 司自律监管指引第 9 号——回购股份》等相关规定,上市公司回 购专户中的股份不享有利润分配等权利。甘源食品股份有限公司 (以下简称"公司")回购专用证券账户所持有的本公司股份不 参与本次权益分派。 2.公司 2024 年年度股东大会审议通过的 2024 年年度利润分 配方案为:以公司现有总股本 93,215,831 股,扣除回购专户上已 回购股份 1,605,872 股后的股本总数 91,609,959 股为基数,拟每 10 股派发现金红利 17.84 元(含税),拟分配派发现金红利 163,432,166.86 元(含税),不送红股,不进行资本公积金转增 股本,剩余未分配利润结转至下一年度。 3.本次权益分派实施后除权除息价计算时,每 10 股现金红 利=本次实际现金分红总额÷公司总股本(含回购股份)×10 股, 即每 ...
甘源食品(002991) - 关于2022年员工持股计划首次授予部分第三个锁定期届满的提示性公告
2025-06-04 08:15
证券代码:002991 证券简称:甘源食品 公告编号:2025-020 甘源食品股份有限公司 关于 2022 年员工持股计划 首次授予部分第三个锁定期届满的提示性公告 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。 甘源食品股份有限公司(以下简称"公司")于 2022 年 4 月 27 日、2022 年 5 月 19 日分别召开了第四届董事会第三次会议、 2021 年度股东大会,审议通过了《关于<2022 年员工持股计划(草 案)>及其摘要的议案》等相关议案。于 2025 年 4 月 18 日召开 的第五届董事会第二次会议审议通过了《关于 2022 年员工持股 计划首次授予部分第三期和预留授予部分第二期解锁条件未成 就的议案》。具体内容详见公司在《证券时报》《中国证券报》 《 上 海 证 券 报 》 《 证 券 日 报 》 和 巨 潮 资 讯 网 (http://www.cninfo.com.cn)披露的相关公告。 鉴于公司 2022 年员工持股计划(以下简称"本员工持股计 划")首次授予部分第三个锁定期于 2025 年 6 月 6 日届满,根 据《关于上市公 ...
甘源食品:25Q1 利润阶段性承压,关注海外市场突破-20250601
HUAXI Securities· 2025-06-01 13:20
Investment Rating - The investment rating for the company is "Buy" [1] Core Views - The company experienced a revenue decline in Q1 2025, attributed to reduced low-price gift box promotions during the Spring Festival, a decrease in traditional supermarket sales, and a high revenue base from the same period last year [4] - Despite the challenges, the company has shown strong growth in its comprehensive nut and bean series, with significant contributions from overseas markets [3][9] - The company is expected to improve its profit margins gradually as overseas market expansion continues and operational efficiencies are realized [8][9] Financial Performance Summary - In FY 2024, the company achieved a revenue of 2.257 billion yuan, a year-on-year increase of 22.18%, and a net profit of 376 million yuan, up 14.32% year-on-year [2] - For Q1 2025, the company reported a revenue of 504 million yuan, down 13.99% year-on-year, and a net profit of 53 million yuan, down 42.21% year-on-year [2] - The gross profit margin for FY 2024 was 35.46%, which decreased to 34.32% in Q1 2025, reflecting pressure from rising raw material costs and increased expenses [5][7] - The company has adjusted its revenue forecasts for 2025 and 2026 to 2.598 billion yuan and 3.032 billion yuan, respectively, and has revised EPS estimates to 4.38 yuan and 5.13 yuan for the same years [10]
甘源食品(002991):25Q1利润阶段性承压,关注海外市场突破
HUAXI Securities· 2025-06-01 12:47
Investment Rating - The investment rating for the company is "Buy" [1] Core Views - The company experienced a revenue decline in Q1 2025, attributed to reduced e-commerce activities and traditional retail performance, but showed a year-on-year increase when comparing Q4 2024 to Q1 2025 [4] - The company is focusing on expanding its overseas market presence, which has shown significant growth from a low base, indicating increasing influence and recognition [9] - Profit margins are expected to improve gradually in subsequent quarters as operational efficiencies are realized and overseas market contributions grow [9] Financial Performance Summary - In FY 2024, the company achieved revenue of 2.257 billion yuan, a year-on-year increase of 22.18%, and a net profit of 376 million yuan, up 14.32% [2] - For Q1 2025, revenue was 504 million yuan, down 13.99% year-on-year, with a net profit of 53 million yuan, down 42.21% [2] - The company's gross margin for FY 2024 was 35.46%, which decreased to 34.32% in Q1 2025 due to rising raw material costs and increased expenses [5][7] - The company’s sales expenses increased significantly in Q1 2025, reflecting investments in overseas market expansion and brand promotion [6] Revenue Breakdown - The company’s revenue from various product lines in FY 2024 included 705 million yuan from mixed nuts and beans, 524 million yuan from green peas, and 302 million yuan from sunflower seeds, with respective year-on-year growth rates of 39.80%, 12.56%, and 10.48% [3] - Revenue from overseas markets grew by 1762% year-on-year, highlighting the potential for future growth in international sales [3] Earnings Forecast - The revenue forecast for 2025 has been adjusted to 2.598 billion yuan, with EPS estimates revised to 4.38 yuan [10] - The company is projected to achieve revenues of 3.032 billion yuan in 2026 and 3.461 billion yuan in 2027, with corresponding EPS of 5.13 yuan and 5.72 yuan [10]
甘源食品(002991):25Q1利润阶段性承压 关注海外市场突破
Xin Lang Cai Jing· 2025-06-01 12:35
Event Overview - In FY24, the company achieved revenue of 2.257 billion, a year-on-year increase of 22.18%; net profit attributable to shareholders was 376 million, up 14.32% year-on-year; and net profit excluding non-recurring items was 341 million, an increase of 16.91% year-on-year. In Q4 24, revenue was 652 million, up 22.05% year-on-year; net profit attributable to shareholders was 99 million, down 13.91% year-on-year; and net profit excluding non-recurring items was 93 million, down 10.40% year-on-year. In Q1 25, revenue was 504 million, down 13.99% year-on-year; net profit attributable to shareholders was 53 million, down 42.21% year-on-year; and net profit excluding non-recurring items was 46 million, down 45.14% year-on-year [1]. Analysis and Judgment - The company saw strong growth in the comprehensive nut and bean series, with revenue from various product lines in FY24 as follows: comprehensive nuts and beans 705 million (+39.80%); green pea series 524 million (+12.56%); sunflower seeds 302 million (+10.48%); broad beans 277 million (+19.72%); other series 439 million (+21.17%); and other businesses 10 million (-3.84%) [2]. - By region, revenue in FY24 was as follows: East China 658 million (+45%); Southwest 365 million (+49%); Central China 339 million (+17%); e-commerce 239 million (+11%); North China 235 million (-28%); South China 160 million (+22%); Northwest 97 million (+2%); Northeast 71 million (-9%); overseas 83 million (+1762%); and other businesses 10 million (-4%) [2]. Q1 25 Revenue Pressure - Revenue in Q1 25 faced pressure due to several factors: 1) significant reduction in low-priced gift box live-streaming business during the Spring Festival to ensure healthy development of e-commerce; 2) decline in traditional supermarket business; and 3) timing differences of the Spring Festival leading to a high revenue base in the same period last year. Comparing Q4 24 and Q1 25, revenue showed a year-on-year increase of 3.2%, indicating stability [3]. Cost and Profitability - The company's gross margin for FY24, Q4 24, and Q1 25 was 35.46%, 35.14%, and 34.32%, respectively, showing a year-on-year decline of 0.78, 0.90, and 1.07 percentage points. The decline in gross margin was primarily due to significant promotional efforts during the year-end festival and a substantial increase in procurement costs for key raw materials like palm oil since Q1 25 [4]. - On the expense side, the company's expense ratios for sales, management, R&D, and financial expenses in FY24 were 12.67%, 3.75%, 1.42%, and -0.50%, respectively, with year-on-year changes of +1.18, -0.03, +0.17, and +0.33 percentage points. In Q1 25, these ratios were 17.34%, 4.87%, 1.23%, and -0.35%, with year-on-year changes of +4.24, +1.39, +0.17, and +0.22 percentage points. The increase in sales expense ratio was attributed to the company's expansion into overseas markets and increased brand promotion efforts [5]. - The net profit margin for FY24, Q4 24, and Q1 25 was 16.67%, 15.19%, and 10.47%, respectively, with year-on-year declines of 1.14, 6.34, and 5.11 percentage points. The net profit margin excluding non-recurring items was 15.12%, 14.34%, and 9.09%, with year-on-year declines of 0.68, 5.20, and 5.16 percentage points. The pressure on profitability was due to both cost and expense factors [6]. Future Outlook - The company is expected to improve profitability quarter by quarter, with a focus on breakthroughs in overseas markets. The significant growth in overseas markets reflects the company's increasing influence and recognition. Despite the pressure from raw material price fluctuations and increased overseas expenses, profitability is anticipated to improve as the overseas market expands [7][8]. Investment Recommendations - Based on the latest financial report, the company's revenue forecasts for 2025 and 2026 have been adjusted down to 2.598 billion and 3.032 billion, respectively, with a new forecast for 2027 revenue at 3.461 billion. The EPS forecasts for 2025 and 2026 have been revised down to 4.38 and 5.13, respectively, with a new forecast for 2027 EPS at 5.72. The PE ratios corresponding to the closing price of 64 yuan per share on May 30 are 15, 12, and 11 times, maintaining a "buy" rating [9].