专题：专题|2024年度A股CFO数据报告：美的集团钟铮年薪946万，比亚迪周亚琳896万 炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 作为上市公司核心管理层关键成员，财务总监CFO的地位与作用至关重要。新浪财经《2024年度A股 CFO数据报告》显示，2024年A股上市公司财务总监（CFO）群体薪酬规模合计达42.70亿元，平均年薪 为81.48万元。 在休闲食品的财务战场，两位大专学历的女CFO正上演着截然不同的资本剧本。54岁的万辰集团蔡冬娜 以56.75万元年薪（低于行业均值30%）执掌323亿营收，创造454%净利暴涨；而43岁的三只松鼠周庭坐 拥116.16万元高薪（超均值42%），却只换来4.07亿净利润（不足前者1.4倍）。当两份财报放在一起， 一场关于性价比的财务革命正在撕裂零食行业的薪酬逻辑。 | 维度 | 蔡冬娜(万辰集团) | 周庭(三只松鼠) | 差距倍数 | | --- | --- | --- | --- | | 年語 | 56.75万元(专科榜第31) 116.16万元(专科榜第20) 2.05倍 | | | | 年薪涨幅 | +11.72万(↑26 ...

三只松鼠最新一期业绩显示，截至2025一季报，公司营业总收入37.23亿元、同比增长2.13%，归属净利 润2.39亿元，同比减少22.46%，扣非净利润1.62亿元，同比减少38.31%，流动比率1.932、速动比率 1.503、资产负债率39.38%。 天眼查商业履历信息显示，三只松鼠股份有限公司，成立于2012年，位于芜湖市，是一家以从事零售业 为主的企业。企业注册资本40100万人民币，实缴资本40100万人民币。公司法定代表人为章燎源。 金融界消息 截至2025年8月5日收盘，三只松鼠（300783）报收于25.65元，上涨0.23%，换手率1.92%， 成交量5.39万手，成交金额1.38亿元。 通过天眼查大数据分析，三只松鼠股份有限公司共对外投资了43家企业，参与招投标项目107次，知识 产权方面有商标信息2584条，专利信息437条，此外企业还拥有行政许可36个。 资金流向方面，今日主力资金净流出2141.11万元，占比成交额15.5%。其中，超大单净流出1866.80万 元、占成交额13.52%，大单净流出274.31万元、占成交额1.99%，中单净流出流入912.56万元、占成交 额6.6 ...

Core Insights - The convenience food market is experiencing a stable structure but facing growth pressure, with instant noodles maintaining a dominant market share of nearly 50% in Q2 2025, showing a year-on-year increase of 0.68% [4][5][6] - The overall market share of key categories such as instant noodles, regular ham sausages, and low-temperature sausages exceeds 86%, indicating a concentration of market power among leading products [5][6] - Price indices for convenience foods have shown a steady upward trend, with the overall price index surpassing 100 in late 2024, indicating a shift towards price growth and product upgrades [8][10] Convenience Food Category Overview - The convenience food category includes various subcategories such as instant noodles, canned foods, and pre-prepared meals, totaling 19 subcategories [2] - Instant noodles remain the most significant category, while low-temperature sausages and regular ham sausages are also growing but at a slower pace [4][5] Market Share and Sales Analysis - In Q2 2025, instant noodles accounted for 46.74% of the market share, with a sales decline of 8.85%, indicating pricing or sales pressure despite share growth [5][6] - Regular ham sausages and low-temperature sausages also saw slight increases in market share but experienced sales declines of around 9% [5][6] - The overall trend indicates that while leading categories are gaining market share, they are simultaneously facing significant sales challenges [5][6] Price Index Trends - The price index for convenience foods has shown a consistent increase, with the index reaching a peak of 100.65 in June 2025, reflecting ongoing price growth and product upgrades [8][10] - Instant noodles have maintained a price index above the baseline, indicating strong pricing power in this category [10] New Product Launches - The number of new SKUs in the convenience food category has varied significantly, with instant noodles showing the highest activity in new product launches [12] - Regular ham sausages and low-temperature sausages have seen stable new product introductions, while other categories like instant porridge and spicy noodles have had fewer new launches [12] Key Category Performance - The CR5 market share for instant noodles is 83.03%, indicating a high concentration of market power among leading brands [14] - In the regular ham sausage category, the CR5 market share is 93.19%, with Double Happiness holding over 60% of the market [23] - Low-temperature sausages have a CR5 market share of 72.29%, with Double Happiness and Jinluo as the leading brands [31] SKU Performance - In the instant noodle category, top-performing SKUs include products from White Elephant and Unification, reflecting strong brand positioning [19][21] - For regular ham sausages, Double Happiness dominates the market with multiple products in the top rankings [26][29] - In the low-temperature sausage category, Double Happiness also leads with a diverse product range [38][39] Conclusion - The convenience food market is characterized by a stable structure with leading categories gaining market share but facing sales pressures. The price index trends indicate a shift towards higher pricing, and new product launches remain concentrated in the instant noodle segment, reflecting ongoing competition and consumer demand dynamics [4][5][6][8][10][12]

Investment Rating - The report maintains a "Recommended" rating for the food and beverage industry [1][4]. Core Insights - The implementation of the national childcare subsidy is expected to stimulate overall consumption in the long term, particularly benefiting the infant food sector [8]. - Recent policy signals from the Political Bureau meeting indicate a commitment to proactive fiscal and monetary policies aimed at boosting domestic demand and consumption [5]. - The food and beverage sector has underperformed compared to the broader market, with a decline of 1.45% over the past two weeks, while the Shanghai Composite Index rose by 0.72% [3][17]. Summary by Sections Industry Performance - Over the past year, the food and beverage sector has shown a 5.7% increase, but it has lagged behind the Shanghai Composite Index in the short term [3][17]. - The health products segment experienced the smallest decline of 0.01%, while processed foods and meat products fell by 0.16% and 0.30%, respectively [17]. Key Companies and Recommendations - Recommended stocks in the liquor segment include Kweichow Moutai, Wuliangye, Luzhou Laojiao, Shanxi Fenjiu, and others [28]. - In the consumer goods segment, recommended stocks include BaiRun Co., WeiLong, Salted Fish, Nongfu Spring, and others [28]. Market Trends - The report highlights a significant drop in the number of banquet reservations for graduation ceremonies, indicating a shift in consumer behavior due to recent restrictions [5]. - New product launches by companies like Qiaqia are accelerating, with a focus on innovative and differentiated products to capture market share [9]. Financial Performance - Dongpeng Beverage reported a revenue of 10.737 billion yuan for H1 2025, a year-on-year increase of 36.4%, with a net profit of 2.375 billion yuan, up 37.2% [10]. - The report notes that the beverage market is facing pressure from price wars, particularly in the bottled water segment, impacting profitability [11]. Valuation Metrics - As of August 1, 2025, the dynamic price-to-earnings ratio for the food and beverage sector stands at 20.23x, indicating a relatively low valuation compared to historical averages [23].

Investment Rating - The report maintains an "Increase" rating for the food and beverage industry, indicating a positive outlook for the sector [5]. Core Insights - The implementation of the childcare subsidy policy is expected to stimulate growth in the food and beverage sector, particularly benefiting the infant formula and dairy product markets [4]. - The report highlights three main investment themes in the liquor segment: strong leading brands, sustained regional advantages, and recovery-driven elastic stocks [1][2]. - In the beer and beverage segment, Budweiser faces sales pressure but is seeing price recovery, while the sugary tea category is gaining market share during peak seasons [3]. Summary by Sections Liquor Industry - Leading brands such as Moutai, Wuliangye, and Luzhou Laojiao dominate the global rankings, with Moutai valued at $58.4 billion, maintaining its position as the most valuable liquor brand globally [2]. - The liquor sector is transitioning from scale growth to high-quality development, with a focus on brand strength and market positioning [2]. Beer and Beverage Sector - Budweiser's Q2 2025 results show a revenue decline of 3.9% and a profit drop of 31.1%, with a notable 6.2% decrease in sales volume [3]. - The sugary tea segment is experiencing a resurgence, with brands like Kang Shifu and Uni-President maintaining leading positions, and sales of Yuanqi Forest's iced tea growing by 53.9% year-on-year [3]. Food Sector - The national childcare subsidy program, effective from January 1, 2025, is projected to enhance birth rates and subsequently increase demand for dairy products [4]. - New product launches by companies like Qiaqia and Ximai are aimed at expanding market presence and tapping into health-oriented consumer trends [4][7].

Investment Rating - The report maintains an "Overweight" rating for the food and beverage industry, expecting the industry index to outperform the market index by over 10% in the next six months [51]. Core Viewpoints - The implementation of childcare subsidies is expected to boost demand in the dairy sector, with a national standard of 3,600 yuan per child per year starting from January 1, 2025 [46]. - The report highlights the performance of various segments, noting that all sub-sectors underperformed compared to the CSI 300 index during the review period [9][11]. - The report suggests focusing on companies with strong certainty in high-end liquor, such as Kweichow Moutai, and also mentions potential in the beer and seasoning sectors due to seasonal demand increases [46][49]. Summary by Sections Market Review - From July 18 to July 31, 2025, the SW food and beverage industry index rose by 1.02%, ranking 25th among Shenwan's primary industries, lagging behind the CSI 300 index by approximately 1.74 percentage points [9][11]. - Approximately 37% of stocks in the industry recorded positive returns during this period, with notable gainers including Sunshine Dairy (+35.17%) and BeiYinMei (+22.40%) [13]. Industry Data Tracking - **Liquor Sector**: Prices for top brands like Feitian Moutai and Guojiao 1573 remained stable at 1,870 yuan and 835 yuan per bottle, respectively [19]. - **Seasoning Sector**: The price of soybean meal increased by 2.68% month-on-month, while white sugar prices decreased by 0.82% [22]. - **Beer Sector**: Barley prices rose by 0.45% month-on-month, with aluminum prices increasing by 0.15% [27]. - **Dairy Sector**: Fresh milk prices decreased to 3.03 yuan per kilogram, down 0.33% month-on-month [34]. - **Meat Sector**: The average wholesale price of pork fell to 20.45 yuan per kilogram, down 0.18 yuan from the previous period [36]. Important News - Beer exports saw a significant increase of 64.3% in June, while imports decreased by 20.1% [38]. - The report notes a stable price index for national liquor, with no significant fluctuations observed [39]. - The first half of 2025 saw a decline in profits for the beverage manufacturing sector, with a 2.1% year-on-year decrease [41]. Company Announcements - **East Peng Beverage**: Reported a 36.37% increase in total revenue for the first half of 2025 [44]. - **Jin Zai Food**: Announced a share buyback plan, purchasing 100,000 shares at prices between 12.67 and 12.70 yuan [45].

每经AI快讯，有投资者在投资者互动平台提问：公司是否有乳业业务，是否参股乳企？ 三只松鼠（300783.SZ）8月1日在投资者互动平台表示，公司于2025年投资并参股安徽三只松鼠甄养饮 品有限公司20%股权，布局乳饮饮料新赛道。 （文章来源：每日经济新闻） ...

证券之星消息，8月1日休闲食品板块较上一交易日上涨0.56%，煌上煌领涨。当日上证指数报收于 3559.95，下跌0.37%。深证成指报收于10991.32，下跌0.17%。休闲食品板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | | --- | --- | --- | --- | --- | --- | --- | | 002695 | 煌上煌 | 13.97 | 5.99% | 24.33万 | | 3.33亿 | | 000716 | 性能 | 6.54 | 4.81% | 83.45万 | | 5.38亿 | | 605339 | 南侨食品 | 17.92 | 2.69% | 2.77万 | | 4895.36万 | | 603697 | 有友食品 | 12.18 | 2.27% | 9.98万 | | 1.22亿 | | 002719 | 麦趣尔 | 9.47 | 1.18% | 10.60万 | | 1.00亿 | | 001219 | 青岛食品 | 14.12 | 1.15% | 3.04万 | | 4281.75万 | | 60371 ...

作者：子超@宠业家 编辑注：自2019年起，宠业家便持续以半年为周期，为读者梳理宠物行业的重要动态与趋势。如今2025年已悄然过半，站在这个承上启下的时间节点，我 们特别为读者精心整理了上半年宠物行业那些值得关注的事件。 头部企业通过横向并购或垂直整合扩大市场份额，资本加速涌入宠物赛道。宁波贝安生物收购新兴品牌Needcat、天元宠物并购B2B平台【它品】及淘通 科技、海南发展收购杭州网营科技、中宠股份收购佳实农业； 3、产业链全球化布局 国内企业积极出海，通过海外设厂或市场拓展应对关税压力，提升国际竞争力。上半年依依股份在柬埔寨设厂、天元宠物投建柬埔寨基地、科奈尔（中 国）越南建厂、海正动保驱虫药登陆越南市场、中誉宠食官宣建设中东宠食工厂。 4、政策与标准持续完善 1、展会并购与合作火热 行业展会通过并购或合作整合资源，提升规模与影响力，反映宠物经济专业化、集中化趋势。上半年TOPS它博会母公司上海它布斯展览有限公司与成都 宠博会母公司天一智讯文化传播成都有限公司达成战略合作、东西部小动物临床兽医师大会母公司被法国智奥会展集团收购 2、企业加速并购与资本运作 政策从国家标准到地方扶持多维度推进，为行业规范化 ...

北京商报讯（记者 郭秀娟 实习记者 王悦彤）7月31日，北京商报记者获悉，近日，三只松鼠华南区域 总部项目正式签约落户佛山市南海区西樵镇樵山康谷大健康产业基地。该项目总投资3亿元人民币，预 计年产值超40亿元，将成为覆盖广东、广西、福建、海南及东南亚市场的区域性综合枢纽。三只松鼠华 南总部项目以"松鼠自有坚果制造+全品类零食产业园+物流"为核心模式，推进品牌、零售与制造一体 化生态平台建设。项目规划12万平方米现代化产业园区，包含23条分装产线、3条组装产线、4条每日坚 果分装线、2条坚果深加工产线及7条零食产线，涵盖坚果制造、分装、物流及零食产业链生产。 ...