Core Points - Wancheng Group (300972) announced that Fujian Mimosa Agricultural Development Co., Ltd. will release its pledge of 7,000,000 shares on November 17, 2025, which represents 21.37% of its holdings and 3.71% of the total share capital of the company [1] - The pledge started on December 25, 2023, with China Minsheng Bank Co., Ltd. Zhangzhou Branch as the pledgee [1] - As of the announcement date, Fujian Mimosa Agricultural Development Co., Ltd. has pledged a total of 0 shares, holding 32,759,200 shares, which accounts for 17.34% of the total shares [1]

Core Viewpoint - Wancheng Group announced that Fujian Mimosa Agricultural Development Co., Ltd. will release its pledge of 7,000,000 shares on November 17, 2025, which represents 21.37% of its holdings and 3.71% of the company's total share capital [1] Summary by Relevant Sections - **Pledge Details** - The pledge started on December 25, 2023, with China Minsheng Bank Co., Ltd. as the pledgee [1] - **Current Shareholding Status** - As of the announcement date, Fujian Mimosa Agricultural Development Co., Ltd. has pledged a total of 0 shares, holding 32,759,200 shares, which accounts for 17.34% of the total shares [1]

（一）培训时间 华兴证券有限公司 关于福建万辰生物科技集团股份有限公司 2025年度持续督导培训情况的报告 华兴证券有限公司（以下简称"华兴证券"或"保荐机构"）作为福建万辰 生物科技集团股份有限公司（以下简称"万辰集团"或"公司"）向特定对象发 行股票并在创业板上市的持续督导保荐机构，根据《证券发行上市保荐业务管理 办法》《深圳证券交易所上市公司自律监管指引第13号——保荐业务》等有关规 定，对万辰集团董事、高级管理人员及实际控制人等相关人员进行了持续督导培 训，现将本次培训情况汇报如下： 一、主要培训工作 本次培训的时间为2025年11月14日。 （二）培训对象 本次培训的对象为万辰集团董事、高级管理人员及实际控制人等相关人员。 1 （本页无正文，为《华兴证券有限公司关于福建万辰生物科技集团股份有限公司 2025 年度持续督导培训情况的报告》之签章页） 保荐代表人： （三）本次培训的主要内容与方式 华兴证券向本次培训的对象提供了培训材料，本次培训主要介绍上市公司治 理准则修订情况、内幕信息管理等相关内容，并结合上市公司违规案例进行学习。 2025年11月14日，华兴证券万辰集团项目组对公司的相关人员就培训 ...

证券代码：300972 证券简称：万辰集团 公告编号：2025-122 截至本公告披露日，上述股东及其一致行动人所持质押股份情况如下： | | | | | | | | 已质押股份情况 | 未质押股份情况 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 股东名称 | 持股数量 （股） | 持股比 例 | 累计质押 股份数量 （股） | 占其所 持股份 比例 | 占公司 总股本 比例 | 已质押股 份限售和 冻结、标记 | 占已质押 股份比例 | 未质押股 份限售和 冻结数量 | 占未质 押股份 比例 | | 福建含羞草农业 | | | | | | 数量（股） | | （股） | | | 开发有限公司 | 32,759,200 | 17.34% | 0 | 0.00% | 0.00% | 0 | 0.00% | 0 | 0.00% | | 漳州金万辰投资 有限公司 | 23,084,679 | 12.22% | 0 | 0.00% | 0.00% | 0 | 0.00% | 0 | 0.00% | | 王泽宁 | 25,619 ...

华兴证券有限公司关于 福建万辰生物科技集团股份有限公司 2025 年度持续督导定期现场检查报告 | 保荐人名称：华兴证券有限公司 被保荐公司简称：万辰集团 | | --- | | 保荐代表人姓名：沈颖 联系电话：021-60156666 | | 保荐代表人姓名：官玉霞 联系电话：021-60156666 | | 现场检查人员姓名：沈颖、官玉霞 | | 现场检查对应期间：2025 年度 | | 现场检查时间：2025 年 月 日-2025 年 月 日 11 5 11 7 | | 一、现场检查事项 现场检查意见 | | （一）公司治理 是 否 不适用 | | 现场检查手段：（1）查阅公司章程及其他相关治理制度；（2）查阅公司三会召开通知、 | | 会议记录、会议决议等文件；（3）访谈公司董事会秘书，了解三会运行、独立性及同业竞 | | 争等情况。 | | 1.公司章程和公司治理制度是否完备、合规 √ | | 2.公司章程和股东会、董事会规则是否得到有效执行 √ | | 3. 股东会、董事会会议记录是否完整，时间、地点、出 | | 席人员及会议内容等要件是否齐备，会议资料是否保存 √ | | 完整 | | 股东会、 ...

Market Overview - The leisure food sector experienced a decline of 1.9% on November 18, with Wancheng Group leading the drop [1] - The Shanghai Composite Index closed at 3939.81, down 0.81%, while the Shenzhen Component Index closed at 13080.49, down 0.92% [1] Individual Stock Performance - Wancheng Group (300972) closed at 174.91, down 3.24% with a trading volume of 13,800 [1] - Lihai Food (300973) closed at 41.91, down 3.19% with a trading volume of 29,500 [1] - Yanjinpuzi (002847) closed at 74.60, down 2.89% with a trading volume of 27,500 [1] - Maiqu'er (002719) closed at 10.05, down 2.62% with a trading volume of 82,600 [1] - Ximai Food (002956) closed at 25.20, down 2.36% with a trading volume of 44,000 [1] - Nanjiao Food (605339) closed at 19.11, down 2.25% with a trading volume of 86,000 [1] - Huangshanghuang (002695) closed at 12.51, down 2.04% with a trading volume of 50,500 [1] - ST Juewei (603517) closed at 13.96, down 1.76% with a trading volume of 85,000 [1] - Guifaxiang (002820) closed at 13.85, down 1.63% with a trading volume of 113,400 [1] - Hezhima (000716) closed at 6.47, down 1.52% with a trading volume of 201,600 [1] Capital Flow Analysis - The leisure food sector saw a net outflow of 222 million yuan from main funds, while retail investors had a net inflow of 254 million yuan [1] - The table of capital flow indicates varying levels of net inflow and outflow among individual stocks, with notable movements in stocks like Huangshanghuang and Guifaxiang [2]

Core Viewpoint - The leisure food sector experienced a rise of 0.79% on November 17, with Nanqiao Food leading the gains, while the overall market indices showed a decline [1] Group 1: Market Performance - The Shanghai Composite Index closed at 3972.03, down 0.46% [1] - The Shenzhen Component Index closed at 13202.0, down 0.11% [1] Group 2: Individual Stock Performance - Nanqiao Food (605339) closed at 19.55, up 4.38% with a trading volume of 143,200 shares and a turnover of 277 million yuan [1] - Ximai Food (002956) closed at 25.81, up 3.41% with a trading volume of 57,900 shares and a turnover of 146 million yuan [1] - Wancheng Group (300972) closed at 180.77, up 1.58% with a trading volume of 14,400 shares and a turnover of 259 million yuan [1] - ST Juewei (603517) closed at 14.21, up 1.57% with a trading volume of 96,700 shares and a turnover of 137 million yuan [1] - Yuanzu Co. (603886) closed at 13.28, up 1.30% with a trading volume of 105,300 shares and a turnover of 141 million yuan [1] Group 3: Capital Flow Analysis - The leisure food sector saw a net outflow of 140 million yuan from institutional investors, while retail investors had a net inflow of 197 million yuan [2] - The main stocks with significant capital flow include ST Juewei with a net inflow of 19.94 million yuan from institutional investors [3] - Other notable stocks include Ximai Food with a net outflow of 2.98 million yuan from institutional investors and a net inflow of 7.07 million yuan from retail investors [3]

Investment Rating - The report maintains an "Accumulate" rating for the food and beverage industry, indicating a positive outlook for investment opportunities in this sector [5]. Core Insights - The food and beverage industry is experiencing a transformation driven by health-conscious consumer trends, product innovation, and channel expansion, with companies actively enhancing their product offerings and exploring overseas markets [1][9]. - In the liquor segment, the supply side is undergoing continuous changes to seek growth, while the demand side is gradually recovering, highlighting the absolute investment value in the industry [2][3]. - The beverage sector is focusing on product innovation and network expansion to uncover growth potential, with a strong emphasis on health upgrades and premiumization [4][7]. Summary by Relevant Sections Liquor Industry - **Water Well**: The company is optimizing its product matrix and plans to launch a new high-end product in 2025, focusing on brand collaboration and expanding its terminal network [2]. - **Jiu Gui Jiu**: The brand is implementing a strategic focus on brand depth and product line simplification, with expectations for improved sales performance [3]. - **She De Jiu Ye**: The company is maintaining its core strategy while expanding its product offerings, particularly in e-commerce, to drive growth [3]. Beverage Industry - **Kang Shi Fu**: The company is committed to innovation and quality, focusing on expanding its product range to meet diverse consumer needs [4]. - **Unified Enterprises**: The company is experiencing stable performance with a focus on product innovation and market expansion, particularly in the instant noodle and beverage segments [7]. - **Hua Run Beverage**: Short-term performance is under pressure due to competition, but long-term growth prospects remain strong due to the essential nature of its products [7]. Health and Wellness Trends - **Anqi Yeast**: The company is targeting over 10% revenue growth, with a focus on expanding its overseas market presence and maintaining cost advantages [9]. - **Xian Le Health**: The company is advancing its global strategy and product innovation to capture new consumer trends, with a focus on high-margin products [9]. - **Jian Yi Health**: The company is enhancing its probiotic offerings and expanding its product lines to meet evolving consumer demands [10]. Overall Market Trends - The food and beverage industry is witnessing a shift towards healthier products and innovative marketing strategies, with companies adapting to changing consumer preferences and exploring new growth avenues [1][4].

（文章来源：证券日报） 证券日报网讯 11月14日晚间，万辰集团发布公告称，公司于2025年11月14日召开第四届董事会第四十 次会议审议了《关于为公司及董事、高级管理人员购买责任保险的议案》。 ...

Group 1 - The core point of the article is that Wancheng Group (SZ 300972) held its fourth board meeting on November 14, 2025, to discuss the proposal for the seventh extraordinary shareholders' meeting of 2025 [1] - For the first half of 2025, Wancheng Group's revenue composition was 98.95% from snack retail and 1.05% from agricultural planting [1] - As of the report date, Wancheng Group's market capitalization was 33.6 billion yuan [1]