证券代码：300972 证券简称：万辰集团 公告编号：2025-098 福建万辰生物科技集团股份有限公司 第四届董事会第三十七次会议决议公告 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。 一、董事会会议召开情况 二、董事会会议审议情况 该议案已经公司董事会薪酬与考核委员会审议通过。 全体与会董事经认真审议，形成以下决议： （一）审议通过《关于<公司 2022 年限制性股票激励计划（二次修订稿）> 及其摘要的议案》 公司根据相关法律法规拟定了《公司 2022 年限制性股票激励计划（二次修 订稿）》及其摘要，对公司 2022 年限制性股票激励计划中首次授予的限制性股 票的归属安排和有效期进行了修订。 该议案已经公司董事会薪酬与考核委员会审议通过。 具体内容详见公司披露于巨潮资讯网（www.cninfo.com.cn）的相关公告。 表决情况：同意 4 票，反对 0 票，弃权 0 票，公司关联董事王丽卿、林该春、 王泽宁、陈文柱、李博回避了该项议案表决。 本议案尚需提交股东会审议。 （二）审议通过《关于<公司 2022 年限制性股票激励计划实施考核管理办 法（二次修 ...

Core Viewpoint - The company Wanchen Biotechnology has rapidly transformed from a mushroom cultivation business to a leading player in the snack industry, achieving over 15,000 stores but facing significant debt challenges as it prepares for a Hong Kong IPO [1][6][22]. Group 1: Company Transformation and Growth - Wanchen Biotechnology entered the snack market in August 2022 and has since acquired regional brands, rebranding them under "Haoxianglai," aiming to become the first snack brand with over 10,000 stores by March 2025 [3][6]. - The revenue from the snack business surged from 12% of total revenue in 2022 to over 98% in the first half of 2025, while the mushroom business's contribution dropped to 1.7% by 2024 [4][6]. - Revenue skyrocketed from over 500 million in 2022 to 32.3 billion in 2024, with 22.5 billion in the first half of 2025 [6]. Group 2: Financial Performance and Debt Issues - The number of stores increased dramatically from 160 in 2022 to 15,300 by mid-2025, covering 29 provinces, primarily targeting lower-tier markets [6][9]. - Despite rapid expansion, the net profit margin fell to just over 3% in the first half of 2025, with a loss reported in 2023, compared to a peak of 21% previously [6][9]. - Total liabilities rose from 332 million at the end of 2022 to 5.1 billion by the end of 2024, indicating a 15-fold increase in three years [7][10]. Group 3: Market Competition and Challenges - The snack industry is highly competitive, with rivals like "Zero Franchise Fee" initiatives, making it difficult for franchisees to achieve profitability [12][14]. - Wanchen's inventory increased from 63.2 million in 2022 to 1.6 billion in the first half of 2025, raising concerns about inventory management and franchisee sales [16]. - The company faces governance challenges with a family succession plan, as the new leader, born in 1993, must navigate the complexities of a public offering and high debt levels [20][22]. Group 4: Future Outlook and Market Position - The snack market remains promising, but the company must focus on efficiency and profitability rather than just scale [24]. - Wanchen's market share is currently only 0.91%, with the top five brands collectively holding 3.85%, indicating a fragmented market [20][22]. - The upcoming IPO may bring new challenges, as regulatory scrutiny will likely focus on high debt levels and the stability of the franchise system [22][24].

Core Insights - The implementation of the second phase of the equity incentive plan by Wancheng Group demonstrates the company's confidence in its performance growth [1] - The equity incentive plan aims to establish a profit-sharing mechanism between employees and the company, attracting and retaining core talent while enhancing team motivation [1] - The management has set challenging performance targets for the incentive plan, reflecting their confidence in future performance growth and company development [1] Company Growth Potential - The continuous expansion of the company's snack retail business network is expected to enhance scale effects and improve profitability [1] - The optimistic outlook on the company's growth potential is supported by the anticipated benefits from the incentive plan and the strategic goals of the company [1]

Core Insights - As of October 15, a total of 122 stocks in the Shanghai and Shenzhen markets have experienced net financing inflows for five consecutive days or more [1] Group 1: Stocks with Longest Continuous Net Inflows - The stocks with the longest continuous net inflows are Xingye Yinxin, Wancheng Group, and Zhongjin Gold, each having recorded net inflows for eight consecutive trading days [1] - Other notable stocks with significant net inflows include Huacan Optoelectronics, Tongfang Co., Yuntianhua, Haoneng Co., Taijing Technology, Guizhou Tire, and Kangwei Century [1]

Core Insights - Wancheng Group's stock price increased by 2.29% on October 16, reaching 196.40 CNY per share, with a market capitalization of 37.098 billion CNY [1] - The company has seen a significant stock price increase of 146.08% year-to-date, with recent gains of 8.74% over the last five trading days [1] Financial Performance - For the first half of 2025, Wancheng Group reported revenue of 22.583 billion CNY, a year-on-year increase of 106.89%, and a net profit attributable to shareholders of 472 million CNY, reflecting a staggering growth of 50,358.80% [2] - The company has distributed a total of 142 million CNY in dividends since its A-share listing, with 108 million CNY distributed over the past three years [3] Shareholder Information - As of June 30, 2025, the number of shareholders increased by 33.50% to 7,923, while the average circulating shares per person decreased by 25.09% to 19,666 shares [2] - Hong Kong Central Clearing Limited is the sixth-largest circulating shareholder, increasing its holdings by 206.68 million shares to 3.8879 million shares [3]

| 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 603517 | ST绝味 | 14.00 | -0.57% | 10.93万 | 1.52亿 | | 000716 | 黑芝麻 | 6.23 | 0.32% | 14.57万 | 9069.69万 | | 605339 | 南侨食品 | 17.65 | 0.34% | ● 1.28万 | 2245.22万 | | 603866 | 桃李面包 | 5.50 | 0.55% | 10.99万 | 6018.66万 | | 603886 | 元祖股份 | 12.26 | 0.66% | 3.14万 | 3850.40万 | | 002557 | 治治食品 | 21.34 | 0.71% | 4.39万 | 9319.19万 | | 003000 | 劲仔食品 | 12.17 | 0.75% | 4.04万 | 4901.98万 | | 603719 | 良品铺子 | 13.00 | 0.78% | 4.62万 | 5982.86万 | | 002820 ...

Core Insights - As of October 14, a total of 78 stocks in the Shanghai and Shenzhen markets have experienced net financing inflows for five consecutive days or more [1] - The stock with the longest streak of net inflows is Daming City, which has seen net buying for 13 consecutive trading days [1] - Other notable stocks with significant net inflow days include Zhongjin Gold, Wancheng Group, Yuntianhua, Xujie Electric, Kangwei Century, Xingye Yinxin, Zhidi Technology, and Taijing Technology [1]

Investment Rating - The report does not explicitly state an investment rating for Wanchen Group, but it expresses an optimistic outlook on the company's growth potential due to its stock incentive plan and performance targets. Core Insights - The implementation of the 2025 Restricted Stock Incentive Plan demonstrates the company's confidence in its earnings growth, with performance targets set for significant increases in net profit over the next few years [4][13]. - The stock incentive plan aims to align the interests of employees with those of the company, helping to attract and retain key talent while motivating the team to achieve strategic goals [4][13]. - The company has set challenging performance targets for the incentive plan, indicating management's confidence in future growth and development [4][13]. Summary by Sections Stock Incentive Plan - The company plans to grant approximately 2.193 million shares, accounting for about 1.17% of its total share capital, at a grant price of Rmb 69.18 per share [2][7]. - The initial grant includes 1.775 million shares for 68 core personnel, representing 80% of the total shares intended for the incentive plan [2][7]. - The reserved portion consists of approximately 0.439 million shares, accounting for 20% of the total shares intended for the incentive plan [2][7]. Performance Targets - The performance targets for the initial and reserved grants include a net profit increase of 40%/45%/50%/55% for the years 2025/2026/2027/2028 compared to 2024 [9]. - The reserved portion has three vesting periods with targets of 45%/50%/55% for the years 2026/2027/2028 compared to 2024 [9]. Financial Impact - The total expected amortized cost of the incentive plan is Rmb 23.2108 million, with annual costs projected for 2025-2029 [11]. - The remaining ungranted shares in the incentive plan amount to 235,000 shares, which should be allocated within 12 months after shareholder approval [12].

证券日报网讯 10月14日晚间，万辰集团发布公告称，为支持青少年公益事业的健康发展，促进青少年 健康成长成才，公司与福建省青少年发展基金会签订协议，将由公司或控股子公司向该基金会捐赠人民 币100.00万元。 （编辑 楚丽君） ...

北京商报讯（记者 郭秀娟 王悦彤） 10月14日，万辰集团发布公告，公司于2025年10月13日召开董事 会，审议通过了《关于对外捐赠的议案》。公司将向福建省青少年发展基金会捐赠100万元，以支持青 少年公益事业的健康发展，促进青少年健康成长成才。本次捐赠资金来自公司自有资金，捐赠事项在董 事会审批权限内，不涉及关联交易，也不构成重大资产重组，故无需提交股东会审议。公告指出，本次 捐赠对公司的财务状况和经营成果不构成重大影响，且不会损害公司和股东利益。 ...