Market Performance - The leisure food sector increased by 0.73% compared to the previous trading day, with "Good Idea" leading the gains [1] - The Shanghai Composite Index closed at 4136.16, up 0.33%, while the Shenzhen Component Index closed at 14439.66, up 0.79% [1] Individual Stock Performance - "Good Idea" (002582) closed at 16.18, up 6.03% with a trading volume of 698,800 shares and a transaction value of 1.123 billion yuan [1] - "Wancheng Group" (300972) closed at 219.50, up 3.51% with a transaction value of 601 million yuan [1] - "Lihigh Food" (300973) closed at 46.56, up 1.77% with a transaction value of 155 million yuan [1] - "Nanjiao Food" (605339) closed at 18.94, up 1.39% with a transaction value of 47.9721 million yuan [1] - "Purple Lotus Food" (603057) closed at 29.69, up 1.19% with a transaction value of 224 million yuan [1] - "Three Squirrels" (300783) closed at 24.50, up 0.82% with a transaction value of 221 million yuan [1] - "Maiqu'er" (002719) closed at 9.21, up 0.66% with a transaction value of 52.3833 million yuan [1] - "Liangpinpuzi" (603719) closed at 12.12, up 0.33% with a transaction value of 48.7241 million yuan [1] - "Guifaxiang" (002820) closed at 12.63, up 0.32% with a transaction value of 84.7587 million yuan [1] - "Ganyuan Food" (002991) closed at 62.82, up 0.05% with a transaction value of 59.5207 million yuan [1] Capital Flow - The leisure food sector experienced a net outflow of 112 million yuan from institutional investors, while retail investors saw a net inflow of 128 million yuan [2] - The capital flow for individual stocks shows varying trends, with "Wancheng Group" having a net inflow of 9.9595 million yuan from institutional investors [3] - "Lihigh Food" had a net inflow of 295.83 million yuan from retail investors, while "Salted Fish" (002847) saw a net outflow of 2.19959 million yuan from institutional investors [3]

智通财经APP获悉，华西证券发布研报称，近期人民币汇率持续走强。复盘历史，升值周期中食品饮料 板块通常能跑赢大盘。本轮升值有望通过降低进口成本、提振内需景气、吸引外资增配三条路径，推动 板块迎来成本、需求与估值的共振修复，相关主线标的有望受益。 华西证券主要观点如下： 成本端来看，人民币升值降低进口原料折算价格下降，推动制造成本下行，进而带来盈利改善，涉及的 核心原材料包含大豆、棕榈油、燕麦、大麦、树坚果等。 需求端来看，内需修复是汇率走强的底层支撑，而人民币升值将进一步降低企业补库成本，推动行业 从"被动去库"转向"主动补库"，补库扩产又会强化内需韧性，形成正向循环。食品饮料作为必选消费， 内需复苏确定性更强，景气度有望持续抬升。 资金端来看，人民币升值周期下流动性持续宽裕，外资流入A股动力增强，带来板块流动性溢价，食品 饮料作为外资持仓占比较高的消费板块之一，板块有望迎来外资增配带来的估值修复。 投资建议 受益于板块三重共振，重点关注三条主线：1）成本红利，重点推荐西麦食品、立高食品、妙可蓝多、 洽洽食品、H&H等；2）景气度抬升，重点推荐安井食品、千味央厨、优然牧业、现代牧业、新乳业、 万辰集团；3）估 ...

Group 1 - The core viewpoint of the article highlights the target price increases for several listed companies, with Zijin Mining, BAIC Blue Valley, and Huqin Technology leading the rankings with target price increases of 65.69%, 40.29%, and 39.15% respectively, across the industrial metals, passenger vehicles, and consumer electronics sectors [1][2]. Group 2 - On January 22, a total of 24 listed companies received recommendations from securities firms, with Lihigh Food receiving 2 recommendations, while companies like Baolong Oriental and BAIC Blue Valley received 1 recommendation each [4]. - The companies that received first-time coverage on January 22 include BAIC Blue Valley with a "Buy" rating from Guotai Junan Securities, Yanzhou Coal with an "Outperform" rating from Guosen Securities, Hezhu Intelligent with a "Buy" rating from Huayuan Securities, and Jiachih Technology with a "Buy" rating from Kaiyuan Securities [5][6].

Investment Rating - Industry rating: Recommended [5] Core Insights - Recent appreciation of the RMB is expected to continue, enhancing domestic asset attractiveness and improving the competitiveness of export products [1] - Historical analysis shows that during previous RMB appreciation periods, the food and beverage sector outperformed the CSI 300 index by 18% and 12% respectively, indicating strong performance potential in the current cycle [2] - The current RMB appreciation is anticipated to create a triple resonance effect in the sector, leading to cost reduction, increased demand, and valuation recovery [2] Summary by Sections Cost Side - RMB appreciation reduces the import cost of raw materials, leading to lower manufacturing costs and improved profitability. Key raw materials affected include soybeans, palm oil, oats, barley, and tree nuts [2] Demand Side - Domestic demand recovery is a fundamental support for the strengthening RMB. The appreciation will lower inventory replenishment costs for companies, shifting the industry from passive destocking to active replenishment, thus reinforcing domestic demand resilience [2] Capital Side - The liquidity remains ample during the RMB appreciation cycle, increasing foreign capital inflow into A-shares. The food and beverage sector, with a high proportion of foreign holdings, is expected to benefit from valuation recovery driven by increased foreign allocation [2] Investment Recommendations - Focus on three main lines of investment: 1. Cost benefits: Recommended companies include Ximai Food, Lihigh Food, Miaokelando, Qiaqia Food, and H&H [3] 2. Demand recovery: Recommended companies include Anjijia Food, Qianwei Central Kitchen, Youran Livestock, Modern Dairy, New Dairy, and Wancheng Group [3] 3. Valuation recovery: Recommended companies include Yili, Mengniu Dairy, Xianle Health, Weilong Delicious, and Yanjinpuzi [3] Earnings Forecast and Valuation - Key companies and their respective ratings, earnings per share (EPS) forecasts, and price-to-earnings (P/E) ratios for the years 2024 to 2027 are provided, indicating a positive outlook for several companies in the sector [7]

事项： 公司公告：立高食品发布业绩预告，2025 年全年实现营业总收入 42.6-44.2 亿元，同比增长 11.07%-15.24%； 扣非归母净利润 3.06-3.26 亿元，同比增长 20.61%-28.49%。 国信食饮观点：1）商超渠道节奏良好，成本回落叠加费效提升，利润有望平稳回升；2）资源聚焦高潜渠 道，新品积极布局 2026；3）我们预计 2025-2027 年公司实现营业总收入 43.5/49.3/53.9 亿元（前预测值 为 43.9/48.7/53.2 亿元），同比 13.5%/13.2%/9.3%；2025-2027 年公司实现归母净利润 3.2/3.9/4.4 亿 元（前预测值为 3.2/3.9/4.3 亿元），同比 19.8%/20.9%/14.2%；实现 EPS1.90/2.29/2.62 元；当前股价 对应 PE 分别为 24.4/20.2/17.7 倍，维持"优于大市"评级。 评论： 证券研究报告 | 2026年01月21日 2026年01月22日 立高食品（300973.SZ） 商超渠道节奏良好，新品积极布局 |  公司研究·公司快评 | | |  | 食品饮料·食品加 ...

证券研究报告 | 2026年01月21日 2026年01月22日 立高食品（300973.SZ） 商超渠道节奏良好，新品积极布局 |  公司研究·公司快评 | | |  | 食品饮料·食品加工 |  投资评级：优于大市（维持） | | --- | --- | --- | --- | --- | --- | | 证券分析师： | 张向伟 | | | zhangxiangwei@guosen.com.cn | 执证编码：S0980523090001 | | 联系人： | 王新雨 | 021-60875135 | | wangxinyu8@guosen.com.cn | | 事项： 公司公告：立高食品发布业绩预告，2025 年全年实现营业总收入 42.6-44.2 亿元，同比增长 11.07%-15.24%； 扣非归母净利润 3.06-3.26 亿元，同比增长 20.61%-28.49%。 国信食饮观点：1）商超渠道节奏良好，成本回落叠加费效提升，利润有望平稳回升；2）资源聚焦高潜渠 道，新品积极布局 2026；3）我们预计 2025-2027 年公司实现营业总收入 43.5/49.3/53.9 亿元（前预测 ...

评论： 证 券 研 究 报 告 立高食品（300973）2025 年业绩预告点评 强推（维持） Q4 促销拖累盈利，26 年增长抓手明确 事项： ❖ 公司发布业绩预告，2025 年全年实现营业总收入 42.6-44.2 亿元，同比增长 11.07%-15.24%；扣非归母净利润 3.06-3.26 亿元，同比增长 20.61%-28.49%。 预告中枢对应 2025Q4 实现营业总收入 12.0 亿元，同比增长 6.91%；扣非归母 净利润 0.74 亿元，同比增长 18.17%。 ❖ 风险提示: 需求恢复不及预期、市场竞争加剧、盈利波动性较大等。 [ReportFinancialIndex] 主要财务指标 | | 2024A | 2025E | 2026E | 2027E | | --- | --- | --- | --- | --- | | 营业总收入(百万) | 3,835 | 4,351 | 4,844 | 5,336 | | 同比增速(%) | 9.6% | 13.4% | 11.3% | 10.2% | | 归母净利润(百万) | 268 | 321 | 382 | 440 | | 同比增速(%) ...

Core Viewpoint - Several companies are projected to experience significant growth in net profit for 2025, with increases ranging from over 16% to more than 1400% compared to the previous year [1] Group 1: Company Projections - Nanfang Precision is expected to see a net profit increase of 1130% to 1417% in 2025 [1] - Jin'an Guoji anticipates a net profit growth of 655.53% to 871.4% for 2025 [1] - Limin Co. forecasts a net profit rise of 471.55% to 514.57% in 2025 [1] - Hekang New Energy projects a net profit increase of 386% to 628% for 2025 [1] - Baiao Intelligent expects a net profit growth of 228.34% to 337.79% in 2025 [1] - Dajin Heavy Industry anticipates a net profit increase of 121.58% to 153.23% for 2025 [1] - Yinhui Technology projects a net profit rise of 114% to 133% in 2025 [1] - Demingli expects a net profit increase of 85% to 128% for 2025 [1] - Juhua Co. forecasts a net profit growth of 80% to 101% in 2025 [1] - Ganli Pharmaceutical anticipates a net profit increase of 78.96% to 95.23% for 2025 [1] - Tongfei Co. projects a net profit rise of 56.43% to 74.68% in 2025 [1] - Jiajia Yue expects a net profit increase of 50.06% to 72.79% for 2025 [1] - Tianfu Communication anticipates a net profit growth of 40% to 60% in 2025 [1] - Shunke Zhilian projects a net profit increase of 34.94% to 59.47% for 2025 [1] - Feilihua expects a net profit rise of 31.12% to 50.22% in 2025 [1] - Hailide anticipates a net profit increase of 21.78% to 31.53% for 2025 [1] - Ligao Food projects a net profit growth of 16.06% to 23.52% in 2025 [1]

证券日报网讯 1月21日，立高食品发布公告称，公司预计2025年营业收入426000万元至442000万元；归 属于上市公司股东的净利润31100万元至33100万元，同比增长16.06%至23.52%。 （编辑 丛可心） ...

公告表示，公司业绩预增主要由于报告期内渠道销售规模增长、费用投放效率提升、研发创新驱动增长 以及供应链运营模式优化。 北京商报讯（记者 郭秀娟 王悦彤） 1月21日，发布公告称，公司预计2025年归母净利润为3.11亿元至 3.31亿元，比上年同期增长16.06%至23.52%。 ...