近期，立高食品（300973）发布股东完成减持计划的公告，同时还披露了员工持股平台减持进度的公 告。最近一年多，立高食品的业绩恢复增长态势，而烘焙行业的同行业绩普遍表现不佳。在业绩增长的 同时，立高食品的股价也逐步走强，相较于2024年的低点，公司股价最大涨幅达到163%。而立高食品 的大股东们减持的时间恰恰发生在公司股价大涨之后。 全文请见：业绩逆势增长，股价最大涨幅达163%！立高食品的大股东们组团减持 立高食品的大股东为何会组团进行减持？员工持股平台是否还会继续进行减持呢？对此，每经资本眼专 栏记者致电立高食品证券部，相关工作人员表示："减持是因为股东个人的资金需求，后续的话，我们 也在等待股东(员工持股平台)的通知，如果减持完成，公司也会及时披露这个完成的公告。" ...

Summary of Lihigh Food Conference Call Company Overview - **Company**: Lihigh Food - **Industry**: Food Production, specifically focusing on frozen baked goods and dairy products Key Points and Arguments Sales Channels and Growth - The **restaurant channel** is experiencing the fastest growth, driven by increased orders from major clients, new tea beverage customers, and strong overseas sales performance. This channel is expected to become the fastest-growing sales channel for the company [2][6][10] - Traditional **bakeries and supermarkets** are facing market demand pressures, with no significant improvement in business for downstream bakeries. The company plans to introduce new dairy products to maintain traditional channel performance [2][6] Production Capacity and Utilization - The company aims to increase the utilization rate of its second UHT cream production line in Foshan from 30%-40% in the first half of the year to a target of 50%-70% for the entire year. When both production lines operate at full capacity, the annual output value is expected to be around 1.2-1.3 billion yuan [2][7] - The **frozen baking** capacity utilization rate was nearly 70% in the first half of the year, with expectations to exceed 70% for the full year [2][8] Product Development and New Launches - New products in the frozen baking category are set to launch in major supermarket clients, with one new product expected to be released by the end of the month. Previous launches have performed steadily and met expectations [4] - The company is exploring new dairy products, such as premium milk for tea beverage clients, but does not have immediate large-scale revenue plans for these products [5][16] Client Relationships and Orders - The growth in the **sauce category** is currently reliant on a major client, Tasitin, with sales primarily concentrated on this customer [5][14] - The company has established partnerships with well-known supermarket chains, expecting to reach a scale of millions in cooperation this year and next, a significant increase from previous years [11][12] Market Trends and Future Outlook - The frozen baking sector is projected to grow approximately 20% year-on-year in the first half of the year, with expectations of reaching a cooperation scale of millions in the short term [10] - The company is optimistic about the future growth potential in the restaurant channel, driven by both existing and new customer orders [17] Challenges and Strategic Focus - The company acknowledges that the growth of new retail channels, such as volume discount stores, falls under the restaurant channel, and has established a dedicated team to better serve these new customers [19] - The potential for channel expansion depends on the operational effectiveness of the baking business model, including staff training and equipment setup [20] Product Differentiation - Lihigh Food's cake products are not identical across different channels; they are tailored to meet specific market demands [22] - The company plans to extend some high-demand products to other channels based on customer needs, indicating flexibility in product offerings [24] Future Production Plans - The pizza production line is set to launch by the end of the year, primarily targeting chain restaurant clients. Initial interest from clients has been strong, but specific order volumes will be confirmed post-launch [25][26] Additional Important Information - The company is focusing on a multi-category and multi-channel development strategy, ensuring that resources are not overly concentrated on any single channel or customer [12]

Core Viewpoint - The share reduction plan by major shareholders Bai Baokun and Chen Hejun of Lihigh Food has been completed, with specific details on the number of shares reduced and the remaining holdings outlined in the announcements [1][4]. Shareholder Reduction Details - Bai Baokun's reduction involved selling a total of 249.95 million shares, accounting for 1.48% of the total share capital and 1.50% after excluding repurchased shares. The average selling price during the concentrated bidding was 49.00 yuan per share, with a total of 166.30 million shares sold [2]. - Chen Hejun's reduction totaled 269.95 million shares, representing 1.59% of the total share capital and 1.62% after excluding repurchased shares. The average selling price during the concentrated bidding was 52.91 yuan per share, with 21.779 million shares sold [2]. Post-Reduction Shareholding Situation - After the reduction, Bai Baokun holds 13.9115 million shares, which is 8.22% of the total share capital and 8.35% after excluding repurchased shares. This includes 1.6033 million shares without selling restrictions [3]. - Chen Hejun holds 10.6407 million shares, accounting for 6.28% of the total share capital and 6.39% after excluding repurchased shares, with 2.4959 million shares being unrestricted [3]. Compliance and Impact - The share reductions by Bai Baokun and Chen Hejun comply with relevant laws and regulations, and the actual number of shares reduced did not exceed the planned amount. The reductions are consistent with previously disclosed intentions and commitments [4]. - The reductions will not affect the company's control structure or governance, as neither shareholder is a controlling shareholder or actual controller of the company [4].

证券代码：300973 证券简称：立高食品 公告编号：2025-050 债券代码：123179 债券简称：立高转债 立高食品股份有限公司 关于股东减持计划实施完成的公告 股东白宝鲲先生、陈和军先生保证向本公司提供的信息内容真实、准确、完整，没 有虚假记载、误导性陈述或重大遗漏。 本公司及董事会全体成员保证公告内容与信息披露义务人提供的信息一致。 立高食品股份有限公司（以下简称"公司"）于 2025 年 5 月 20 日在巨潮资讯网披露 了《关于持股 5%以上股东股份减持计划的预披露公告》（公告编号：2025-033），公司股 东白宝鲲先生计划以集中竞价、大宗交易方式减持公司股份不超过2,500,000股（含本数）， 即不超过剔除回购专用账户股份数量后公司总股本的 1.50%；陈和军先生计划以集中竞 价、大宗交易方式减持公司股份不超过 2,700,000 股（含本数），即不超过剔除回购专用 账户股份数量后公司总股本的 1.62% 近日，公司收到股东白宝鲲先生、陈和军先生出具的《关于减持计划实施完成的告 知函》，截至本公告披露日，上述减持计划已实施完毕。现将具体情况公告如下： 一、股东减持情况 1、股东减持股份情 ...

| 证券代码：300973 | 证券简称：立高食品 | 公告编号：2025-051 | | --- | --- | --- | | 债券代码：123179 | 债券简称：立高转债 | | 立高食品股份有限公司 关于披露简式权益变动报告书的提示性公告 公司于近日收到股东立高兴、立高创、彭裕辉、赵松涛、彭永成共同出具的《简式 权益变动报告书》，具体内容详见公司同日披露于巨潮资讯网上的《简式权益变动报告 书》。 本次权益变动前后，信息披露义务人持有的公司股份数量具体情况如下： | 股 | | 本次权益变动前持有的股份 | | 本次权益变动后持有的股份 | | | | --- | --- | --- | --- | --- | --- | --- | | 东 名 | 股份性质 | 占剔除回 购专用账 | 占总股 | | 占剔除回 购专用账 | 占总股 | | 称 | | 股数（股） 户股份数 | 本比例 | 股数（股） | 户股份数 | 本比例 | | | | 量后总股 | | | 量后总股 | | | | | | 本比例 | | | 本比例 | | | --- | --- | --- | --- | --- | - ...

立高食品股份有限公司 简式权益变动报告书 上市公司名称：立高食品股份有限公司 股票上市地点：深圳证券交易所 股票简称：立高食品 股票代码：300973 信息披露义务人一：上海立高兴企业管理咨询合伙企业（有限合伙） 住所/通讯地址：中国（上海）自由贸易试验区临港新片区平庄东路 1558 号 3 幢 信息披露义务人二：上海立高创企业管理咨询合伙企业（有限合伙） 住所/通讯地址：中国（上海）自由贸易试验区临港新片区平庄东路 1558 号 3 幢 信息披露义务人声明 一、本报告书系依据《中华人民共和国公司法》《中华人民共和国证券法》《上市公 司收购管理办法》《公开发行证券的公司信息披露内容与格式准则第 15 号——权益变动 报告书》及其他相关法律、法规及部门规章的有关规定编写。 二、信息披露义务人签署本报告书已获得必要的授权和批准。 三、依据《中华人民共和国证券法》《上市公司收购管理办法》《公开发行证券的公 司信息披露内容与格式准则第 15 号——权益变动报告书》的规定，本报告书已全面披露 信息披露义务人在立高食品股份有限公司中拥有权益的股份变动情况。 四、截至本报告书签署之日，除本报告书披露的股份信息外，信息披露义 ...

Core Viewpoint - The leisure food sector experienced a decline of 2.28% on September 3, with Youyou Food leading the drop [1] Group 1: Market Performance - The Shanghai Composite Index closed at 3813.56, down 1.16% [1] - The Shenzhen Component Index closed at 12472.0, down 0.65% [1] - Youyou Food's stock price fell by 9.77% to 12.37 [1] - Other notable declines include Maijiao (-5.03%), Lihigh Food (-4.90%), and Guifaxiang (-4.45%) [1] Group 2: Trading Volume and Value - Youyou Food had a trading volume of 280,100 shares and a transaction value of 366 million yuan [1] - Lihigh Food recorded a transaction value of 234 million yuan with a trading volume of 48,500 shares [1] - Guifaxiang had a transaction value of 181 million yuan with a trading volume of 145,100 shares [1] Group 3: Capital Flow - The leisure food sector saw a net outflow of 264 million yuan from main funds, while retail investors contributed a net inflow of 283 million yuan [2] - Speculative funds experienced a net outflow of 18.87 million yuan [2]

立高食品9月2日大宗交易平台共发生6笔成交，合计成交量177.34万股，成交金额8339.87万元。以折溢 价进行统计，今日6笔大宗交易成交价相对收盘价均为折价交易。从参与大宗交易营业部来看，机构专 用席位共出现在2笔成交的买方或卖方营业部中，合计成交金额为2081.75万元，净买入2081.75万元。 进一步统计，近3个月内该股累计发生15笔大宗交易，合计成交金额为1.28亿元。 机构评级来看，近5日共有10家机构给予该股评级，预计目标价最高的是华泰证券，8月29日华泰证券发 布的研报预计公司目标价为62.40元。（数据宝） 9月2日立高食品大宗交易一览 证券时报·数据宝统计显示，立高食品今日收盘价为49.81元，下跌0.34%，日换手率为3.48%，成交额为 2.03亿元，全天主力资金净流入181.47万元，近5日该股累计上涨7.07%，近5日资金合计净流入1614.19 万元。 两融数据显示，该股最新融资余额为1.32亿元，近5日增加1928.48万元，增幅为17.08%。 注：本文系新闻报道，不构成投资建议，股市有风险，投资需谨慎。 （文章来源：证券时报网） | 成交量 | 成交金 | 成交价 | 相 ...

Summary of Key Points Core Viewpoint - On September 2, 2025, Lihigh Food conducted a block trade of 1.7734 million shares, with a transaction value of 83.3987 million yuan, accounting for 29.13% of the total trading volume for the day, at an average price of 47.03 yuan, which is a discount of 5.59% compared to the market closing price of 49.81 yuan [1]. Trading Details - The highest transaction price was 48.81 yuan, while the lowest was 45.33 yuan [1]. - Specific transactions included: - 21.65 million shares at 48.81 yuan, totaling 10.5674 million yuan, executed by institutional buyers [2]. - 21 million shares at 48.81 yuan, totaling 10.2501 million yuan, also by institutional buyers [2]. - 5.68 million shares at 46.32 yuan, totaling 2.6310 million yuan, executed by a brokerage firm [2]. - 4.36 million shares at 46.32 yuan, totaling 2.0196 million yuan, executed by another brokerage [2]. - 83.65 million shares at 45.33 yuan, with a total value of 3,791.85 million yuan, executed by the same brokerage [2]. - 41 million shares at 48.81 yuan, totaling 2,001.21 million yuan, executed by a different brokerage [2].

Market Overview - The leisure food sector experienced a decline of 1.24% on September 2, with Ziyan Food leading the drop [1][2] - The Shanghai Composite Index closed at 3858.13, down 0.45%, while the Shenzhen Component Index closed at 12553.84, down 2.14% [1] Individual Stock Performance - Ziyan Food's stock price fell by 6.72% to 23.75, with a trading volume of 66,300 shares and a transaction value of 162 million yuan [2] - Other notable declines include: - Ximai Food down 2.82% to 21.40 - Guifaxiang down 2.81% to 12.82 - Three Squirrels down 2.43% to 26.11 [2] Trading Volume and Capital Flow - The leisure food sector saw a net outflow of 262 million yuan from main funds, while retail investors contributed a net inflow of 253 million yuan [2][3] - The trading volume for various stocks included: - Taoli Bread with a closing price of 5.69 and a trading volume of 250,700 shares [1] - Yanzhu Co. with a closing price of 13.17 and a trading volume of 44,400 shares [1] Capital Inflow Analysis - Main funds showed a net inflow in stocks like Taoli Bread (10.27 million yuan) and Youyou Food (3.91 million yuan) [3] - Conversely, stocks like Black Sesame and Maiqu'er experienced net outflows of -20.11 million yuan and -203.98 million yuan, respectively [3]