21智讯1月14日电，仲景食品在投资者关系活动中表示，公司始终重视股东回报，自上市以来已连续五 年实施现金分红，累计派发现金红利4.46亿元；其中2024年度向全体股东每10股派发现金红利10元（含 税），以真金白银回报股东信任。面向未来，公司将继续实行连续、稳定的分红政策，与投资者共享发 展成果。 ...

Group 1: Market Position and Product Development - The company maintains a leading market position in mushroom sauce, leveraging "Xixia mushroom" resources and focusing on quality upgrades with low oil and fewer additives [3] - The Shanghai scallion oil product has achieved annual sales exceeding 100 million RMB, but faced revenue decline in 2025 due to counterfeit products and increased competition [4][5] - The seasoning and ingredient business has an average annual output of 3,722 tons and generates an average annual revenue of 436 million RMB, holding the largest market share in the country [6] Group 2: New Product Initiatives - The company has launched a series of Western ginseng products, including concentrated liquid and tea, with measurable nutritional content and a focus on health food market expansion [7] - New sauce products like mushroom fresh soy sauce and scallion oil steamed fish sauce have been introduced, currently sold through e-commerce channels [8] Group 3: E-commerce Strategy and Cost Management - The e-commerce sector faces rising traffic costs and declining ROI, prompting the company to adopt a data-driven approach for refined operations [9] - The company emphasizes a cost management principle of "spend wisely" to optimize advertising expenditures [9] Group 4: Production Capacity and Operational Efficiency - The Nanyang factory is positioned to support large-scale production of Shanghai scallion oil and reserve capacity for future new products, ensuring steady operational support [10] Group 5: Shareholder Returns - The company has consistently implemented cash dividends for five years, distributing a total of 446 million RMB, with a planned dividend of 10 RMB per 10 shares for the 2024 fiscal year [11]

Market Overview - The seasoning and fermentation sector experienced a decline of 0.65% on January 13, with Zhu Laoliu leading the drop [1] - The Shanghai Composite Index closed at 4138.76, down 0.64%, while the Shenzhen Component Index closed at 14169.4, down 1.37% [1] Stock Performance - Notable stock performances include: - Richen Co., Ltd. (603755) closed at 38.78, up 2.46% with a trading volume of 43,400 shares and a transaction value of 170 million yuan [1] - Angel Yeast Co., Ltd. (600298) closed at 44.22, up 0.45% with a trading volume of 68,600 shares and a transaction value of 303 million yuan [1] - Zhu Laoliu (920726) closed at 22.45, down 4.47% with a trading volume of 99,900 shares and a transaction value of 236 million yuan [2] Capital Flow - The seasoning and fermentation sector saw a net outflow of 257 million yuan from main funds, while retail investors contributed a net inflow of 215 million yuan [2] - The capital flow for individual stocks shows: - Hai Tian Flavoring (603288) had a main fund net inflow of 22.56 million yuan, but a net outflow from retail investors of 13.91 million yuan [3] - Angel Yeast (600298) experienced a main fund net inflow of 10.74 million yuan, with a net outflow from retail investors of 16.68 million yuan [3]

Core Insights - Zhongjing Food Co., Ltd. has launched two new products, "American Ginseng Concentrate" and "American Ginseng Solid Beverage," both clearly indicating "100mg of ginsenosides per bag," marking a strategic expansion into the health food sector [1][2] - The latest "Chinese Pharmacopoeia" set to be released in 2025 specifies a minimum total ginsenoside content of 2% for American ginseng and outlines daily dosage limits (not exceeding 3g-6g), but these rigorous standards primarily apply to upstream raw materials and traditional Chinese medicine slices, leaving a lack of unified quantitative labeling standards in the deep-processed consumer goods sector [1] Industry Context - Zhongjing Food addresses the issue of the absence of industry quantitative standards by providing clear ginsenoside content labeling, breaking the norm of vague marketing practices and offering consumers a quantifiable value reference [1] - The company utilizes raw materials sourced from the premium region of Ontario, Canada, and employs a "slow fire, low-temperature concentration" modern extraction process, ensuring a complete quality loop from "authentic production area" to "gentle processing" and "standard inspection" [1] - The innovative formats of ready-to-drink concentrate and instant tea powder successfully lower the consumption threshold for American ginseng, facilitating its transition from a traditional tonic to a daily health consumer product and addressing the challenge of low repurchase rates [1] Strategic Implications - Zhongjing Food's cross-industry move is not starting from scratch but leverages the R&D and production resources of its affiliated company, Wanxi Pharmaceutical, in traditional Chinese medicine extraction, concentration, and formulation, ensuring product quality stability and continuous innovation [2] - The market acceptance of Zhongjing Food's new American ginseng products remains to be seen, but its approach of "quantitative transparency" and reliance on core capabilities outlines a feasible upgrade path, providing key insights for the industry and traditional enterprises seeking cross-industry opportunities [2]

Market Overview - The seasoning and fermentation sector increased by 1.24% on January 12, with Anji Food leading the gains [1] - The Shanghai Composite Index closed at 4165.29, up 1.09%, while the Shenzhen Component Index closed at 14366.91, up 1.75% [1] Stock Performance - Anji Food (603696) closed at 26.40, up 10.00% with a trading volume of 505,000 shares [1] - Zhu Laoliu (920726) closed at 23.50, up 4.91% with a trading volume of 92,900 shares [1] - Baoli Food (603170) closed at 15.58, up 4.85% with a trading volume of 62,000 shares [1] - Lianhua Holdings (600186) closed at 6.45, up 4.03% with a trading volume of 1,125,300 shares [1] - Tianwei Food (603317) closed at 13.28, up 2.87% with a trading volume of 85,800 shares [1] - Zhongjing Food (300908) closed at 28.85, up 2.34% with a trading volume of 22,300 shares [1] - Qianhe Flavor (603027) closed at 10.43, up 1.96% with a trading volume of 197,000 shares [1] - Richen Co. (603755) closed at 37.85, up 1.80% with a trading volume of 20,400 shares [1] - Jieling Pickles (002507) closed at 13.27, up 1.61% with a trading volume of 212,300 shares [1] - Haitian Flavor (603288) closed at 38.32, up 1.13% with a trading volume of 176,900 shares [1] Capital Flow - The seasoning and fermentation sector saw a net inflow of 35.63 million yuan from main funds, while retail funds had a net inflow of 10.5 million yuan [2] - Speculative funds experienced a net outflow of 141 million yuan [2] Individual Stock Capital Flow - Haitian Flavor (603288) had a net inflow of 47.05 million yuan from main funds, but a net outflow of 30.60 million yuan from speculative funds [3] - Lianhua Holdings (600186) saw a net inflow of 35.64 million yuan from main funds, with a net outflow of 55.16 million yuan from speculative funds [3] - Anji Food (603696) had a net inflow of 31.50 million yuan from main funds, with a net outflow of 26.65 million yuan from speculative funds [3] - Tianwei Food (603317) experienced a net inflow of 10.71 million yuan from main funds, with a net outflow of 5.41 million yuan from speculative funds [3] - Zhu Laoliu (920726) had a net inflow of 4.88 million yuan from main funds and a net inflow of 4.38 million yuan from speculative funds [3]

值得注意的是，作为跨界新玩家，仲景的市场渗透仍需经历培育期，新业务的成长速度备受关注。从渠 道反馈来看，新品上线初期天猫旗舰店粉丝基数较小，销量尚未起量，行业分析指出，仲景需解决调味 品渠道与大健康赛道的适配问题，同时针对"100mg皂苷"的功效价值扩大消费者认知，不过这一过程虽 需投入成本，但也将为其建立长期品牌认知奠定基础。 公开数据显示，西洋参市场规模可观但痛点显著。根据中国滋补品行业协会数据，2023年国内西洋参市 场规模已突破280亿元，全球市场则保持稳健增长，预计2026—2032年复合年增长率达4.7%。然而，行 业长期存在标准化缺失问题，尽管2025年最新《中国药典》对西洋参原料总皂苷含量和每日用量有明确 要求，但深加工消费品领域缺乏统一的量化标注标准，导致"原料真假难辨""成分含量未知"成为消费核 心障碍。低效市场运转下，国内西洋参市场平均复购率仅12%，营销费用占比却高达35%。 面对行业痛点，仲景食品管理层具备在宛西制药深厚的中医药背景积淀，其跨界布局展现出明确的差异 化思路，通过三大核心举措构建竞争壁垒。在信任体系搭建上，其将中药领域成熟的精准质控理念延伸 至消费端，以明确的皂苷含量标 ...

Market Overview - The seasoning and fermentation sector experienced a slight decline of 0.14% on January 8, with Day Chen Co. leading the drop [1] - The Shanghai Composite Index closed at 4082.98, down 0.07%, while the Shenzhen Component Index closed at 13959.48, down 0.51% [1] Stock Performance - Anji Food (603696) saw a significant increase of 10.02%, closing at 23.16 with a trading volume of 406,400 shares and a transaction value of 889 million [1] - Other notable performers included ST Jiajia (002650) with a rise of 2.87% and Zhu Laoliu (920726) with an increase of 1.94% [1] - Conversely, Day Chen Co. (603755) led the decline with a drop of 1.62%, closing at 37.10 [2] Capital Flow - The seasoning and fermentation sector had a net inflow of 40.61 million from institutional investors, while retail investors saw a net inflow of 8.55 million [2] - However, speculative funds experienced a net outflow of 49.16 million [2] Individual Stock Capital Flow - Anji Food (603696) had a net inflow of 109 million from institutional investors, but a net outflow of 49.45 million from speculative funds [3] - ST Jiajia (002650) reported a net inflow of 7.21 million from institutional investors, while experiencing a net outflow of 4.04 million from speculative funds [3] - Other stocks like Fuling Pickles (002507) and Tianwei Food (603317) also showed varied capital flows, with Fuling Pickles having a net inflow of 5.12 million from institutional investors [3]

Core Viewpoint - The seasoning and fermentation sector experienced a rise of 1.88% on January 5, with Richen Co., Ltd. leading the gains. The Shanghai Composite Index closed at 4023.42, up 1.38%, while the Shenzhen Component Index closed at 13828.63, up 2.24% [1]. Group 1: Stock Performance - Richen Co., Ltd. (603755) closed at 38.00, with an increase of 3.63% and a trading volume of 29,400 shares, amounting to 112 million yuan [1]. - Lianhua Holdings (600186) closed at 6.17, up 3.18%, with a trading volume of 930,100 shares and a transaction value of 572 million yuan [1]. - Haitian Flavoring and Food Co., Ltd. (603288) closed at 37.93, increasing by 2.46%, with a trading volume of 213,800 shares and a transaction value of 805 million yuan [1]. - Anji Food (603696) closed at 20.70, up 2.07%, with a trading volume of 276,500 shares and a transaction value of 569 million yuan [1]. - Qianhe Flavoring (603027) closed at 10.03, increasing by 2.03%, with a trading volume of 183,100 shares and a transaction value of 182 million yuan [1]. Group 2: Capital Flow - The seasoning and fermentation sector saw a net inflow of 147 million yuan from institutional investors, while retail investors experienced a net outflow of 27.03 million yuan [2]. - The main capital flow for Haitian Flavoring and Food Co., Ltd. (603288) showed a net outflow of 57.51 million yuan from institutional investors, with a retail net inflow of 1.72 million yuan [3]. - Lianhua Holdings (600186) had a net inflow of 50.97 million yuan from institutional investors, while retail investors saw a net outflow of 2.34 million yuan [3].

Core Viewpoint - The seasoning and fermentation products sector experienced a decline of 0.37% on December 30, with Anji Food leading the drop [1] Group 1: Market Performance - The Shanghai Composite Index closed at 3965.12, down 0.0%, while the Shenzhen Component Index closed at 13604.07, up 0.49% [1] - The main stocks in the seasoning and fermentation sector showed mixed performance, with Anji Food falling by 10.01% to a closing price of 21.21 [2] Group 2: Trading Volume and Value - Anji Food had a trading volume of 371,300 shares and a transaction value of 800 million yuan, indicating significant trading activity despite the price drop [2] - The overall sector saw a net outflow of 147 million yuan from main funds, while retail investors contributed a net inflow of 123 million yuan [2] Group 3: Individual Stock Performance - Stocks such as Zhu Laoliu and Zhongju Gaoxin showed slight increases of 0.77% and 0.52%, respectively, while others like ST Jiajia and Zhongjing Food experienced minor declines [1][2] - The net inflow of funds varied across stocks, with notable inflows into stocks like Tianwei Food and Baoli Food, while others like ST Jiajia and Hengshun Vinegar faced outflows [3]

Core Viewpoint - Zhongjing Food (300908) emphasizes its commitment to quality by aligning with aerospace standards and integrating aerospace spirit into all production management processes [1] Group 1 - The company is a partner in China's aerospace industry, which enhances its brand reputation and quality assurance [1] - Zhongjing Food plans to actively explore opportunities for deepening cooperation within the aerospace sector to drive innovation and quality upgrades [1]