欢乐家食品集团股份有限公司（以下简称"公司"）于 2025 年 3 月 27 日召 开第二届董事会第三十次会议和第二届监事会第二十一次会议，于 2025 年 4 月 18 日召开 2024 年年度股东大会，审议通过了《关于公司及子公司 2025 年度融 资和担保额度的议案》，同意就 2025 年度公司及子公司融资总额度进行统一授 权。2025 年度公司及子公司（含分公司）向商业银行、外资银行、政策性银行 及其它金融机构申请融资授信额度（包括新增及原授信到期后续展）合计不超过 20 亿元，均为生产经营所需。同时公司及子公司预计为上述综合授信额度提供 不超过人民币 15 亿元的担保。上述授权期限自公司 2024 年年度股东大会审议通 过本事项之日起至 2025 年年度股东大会召开之日止。在上述已审议通过的授权 期限、融资授信额度和担保额度的范围内，公司董事会和股东大会无需再对单笔 融资授信以及上述担保事项逐笔另行审议。具体内容详见公司 2025 年 3 月 29 日和 2025 年 4 月 18 日披露于巨潮资讯网（www.cninfo.com.cn）的《关于公司 及子公司 2025 年度融资和担保额度的公告》（ ...

Core Insights - The beverage and dairy sector experienced a decline of 0.33% on October 17, with the leading stock, Huanlejia, falling significantly [1][2] - The Shanghai Composite Index closed at 3839.76, down 1.95%, while the Shenzhen Component Index closed at 12688.94, down 3.04% [1] Stock Performance - Sunshine Dairy (001318) rose by 2.60% to a closing price of 14.22, with a trading volume of 81,600 shares and a transaction value of 115 million yuan [1] - Dongpeng Beverage (605499) increased by 1.71% to 303.00, with a trading volume of 23,400 shares and a transaction value of 712 million yuan [1] - Joy Family (300997) led the decline with a drop of 3.38% to 16.28, with a trading volume of 52,000 shares and a transaction value of 86.22 million yuan [2] Capital Flow - The beverage and dairy sector saw a net outflow of 211 million yuan from institutional investors, while retail investors had a net inflow of 264 million yuan [2][3] - Dongpeng Beverage had a net inflow of 66.38 million yuan from institutional investors, while it faced a net outflow of 38.24 million yuan from speculative funds [3] - Sunshine Dairy experienced a minor net inflow of 0.54 million yuan from retail investors, despite a net outflow from institutional and speculative funds [3]

Core Insights - The beverage and dairy sector experienced a slight increase of 0.32% on October 16, with Dongpeng Beverage leading the gains [1] - The Shanghai Composite Index closed at 3916.23, up 0.1%, while the Shenzhen Component Index closed at 13086.41, down 0.25% [1] Sector Performance - Dongpeng Beverage (605499) closed at 297.90, with a rise of 2.07% and a trading volume of 16,700 shares, amounting to a transaction value of 496 million yuan [1] - Yili Group (600887) saw a closing price of 27.81, up 0.58%, with a trading volume of 368,500 shares and a transaction value of 1.025 billion yuan [1] - Other notable performances include Sanyuan Foods (600429) at 4.80 (+0.21%), and Bright Dairy (600597) at 8.57 (-0.12%) [1] Individual Stock Movements - The beverage and dairy sector saw significant declines in some stocks, such as Pinuo Food (300892) which fell by 4.52% to 34.87, with a trading volume of 55,100 shares and a transaction value of 195 million yuan [2] - Knight Dairy (920786) decreased by 4.40% to 10.00, with a trading volume of 106,800 shares and a transaction value of 109 million yuan [2] - Other stocks like Zhuangyuan Pasture (002910) and Yiming Food (605179) also experienced declines of 3.86% and 3.20%, respectively [2] Capital Flow Analysis - The beverage and dairy sector saw a net outflow of 179 million yuan from major funds, while retail investors contributed a net inflow of 193 million yuan [2] - The overall capital flow indicates a mixed sentiment within the sector, with institutional investors pulling back while retail investors showed interest [2]

Core Viewpoint - The company,欢乐家, has officially launched its coconut processing project in Indonesia by acquiring assets from PT PRIMA COCO INDONUSA for approximately 38.709 million RMB, aiming to enhance its raw material supply and supply chain competitiveness despite facing declining sales and profitability pressures [1][2]. Investment Details - The investment involves purchasing land, factory, and equipment from PRIMA COCO for 900 billion Indonesian Rupiah (approximately 38.709 million RMB) [2]. - The total investment for the coconut processing project is capped at 21 million USD, which includes various asset acquisition methods and operational costs [2][4]. - The acquisition includes land use rights and factory assets located in Medan, Indonesia [2]. Operational Implications - The acquisition is expected to strengthen the company's upstream supply chain and diversify its product offerings, particularly in fresh coconut juice and related products [3]. - Employees from PRIMA COCO will transition to the newly established subsidiary, 印尼欢乐家 [3]. Financial Context - The funding for this acquisition will come from the subsidiary's own or raised funds, with the parent company increasing its registered capital from 17 million USD to 38 million USD [4]. - As of mid-2023, the company reported cash reserves of 493 million RMB, with short-term and long-term borrowings totaling 191 million RMB and 112 million RMB, respectively [4]. Current Challenges - The company is experiencing significant declines in sales, particularly in its core coconut juice and canned fruit segments, with projected revenue drops of 3.66% and 11.51% for 2024, and even steeper declines of 19.86% and 23.87% in the first half of the year [6]. - The company faces low production capacity utilization rates, with only 37% for beverages and 38% for canned goods, indicating underperformance in its operational efficiency [6]. - The decline in sales is attributed to channel reforms and changes in product structure, leading to a significant reduction in the number of distributors [7]. Cost Pressures - Rising raw material costs have further strained profitability, with procurement prices for coconut products increasing by over 30% year-on-year, resulting in a 6.33 percentage point drop in gross margin [7][8]. - The overall expense ratio has increased from 23% to 24%, contributing to a net profit decline to 18.5525 million RMB, with a net profit margin of only 2.48% [8].

证券日报网讯欢乐家10月15日在互动平台回答投资者提问时表示，公司全资孙公司印尼欢乐家与 PTPRIMACOCOINDONUSA公司签订了《土地买卖协议》，印尼欢乐家参考资产评估值，经过商务谈 判，以900亿印尼卢比（不含增值税，折合人民币约3870.90万元）向其购买土地、厂房及设备等资产。 本次交易事项尚未完成，仍存在不确定性。敬请投资者注意风险。具体情况可参见公司2025年10月13日 披露的《关于公司购买资产暨对外投资建设印度尼西亚椰子加工项目的进展公告》（公告编号：2025- 088）。 （文章来源：证券日报） ...

Core Insights - The beverage and dairy sector experienced a slight increase of 0.19% on October 15, with Chengde Lulu leading the gains [1] - The Shanghai Composite Index closed at 3912.21, up 1.22%, while the Shenzhen Component Index closed at 13118.75, up 1.73% [1] Stock Performance - Chengde Lulu (000848) closed at 9.05, up 4.50%, with a trading volume of 568,100 shares and a transaction value of 509 million [1] - Miaokelan Duo (600882) closed at 27.01, up 3.73%, with a trading volume of 181,600 shares and a transaction value of 486 million [1] - Panda Dairy (300898) closed at 27.46, up 3.62%, with a trading volume of 98,300 shares and a transaction value of 274 million [1] - Other notable stocks include Yiming Food (605179) at 21.25 (+3.21%) and New Dairy (002946) at 18.10 (+2.55%) [1] Capital Flow - The beverage and dairy sector saw a net inflow of 250 million from main funds, while retail investors experienced a net outflow of 188 million [2] - Major stocks like Yili (600887) had a net inflow of 94.93 million from main funds, but a net outflow of 61.86 million from retail investors [3] - Chengde Lulu (000848) also saw a net inflow of 68.09 million from main funds, with retail investors withdrawing 31.43 million [3]

Core Viewpoint - The company has made a significant investment in Indonesia by acquiring land, buildings, and equipment to enhance its supply chain and resource control in the coconut beverage industry [1][2] Group 1: Investment Details - The company’s subsidiary in Indonesia signed a land sale agreement with PRIMA COCO for approximately 900 billion Indonesian Rupiah (about 38.71 million RMB) [1] - The total investment for the Indonesian project will not exceed 21 million USD, marking a key step in the company's upstream raw material layout in Southeast Asia [1] - The acquired assets include five land use rights (total area of 43,800 square meters), 12 buildings, and 523 pieces of equipment, with a market value of approximately 981.06 billion Indonesian Rupiah (about 43.46 million RMB) as of June 30, 2025 [1] Group 2: Strategic Importance - The company has emphasized the importance of building a strong supply chain in the coconut beverage industry, with Indonesia being a major source of coconut raw materials [1] - The acquisition will enhance the company's ability to control upstream resources, ensuring stability and safety in the supply of core product ingredients [1] - The company is focused on a "from source to product" full industry chain layout, aiming to establish a raw material supply system centered in Southeast Asia [2] Group 3: Product Development and Market Strategy - The company plans to improve supply chain efficiency and strengthen raw material procurement and cost advantages through the Indonesian project [2] - Recent product innovations include a brand refresh for coconut water series products and the launch of new beverages, expanding the price range to cater to diverse consumer needs [2] - The company will continue to develop new products and marketing strategies to meet the varied demands of different sales channels and consumer groups [2]

Core Points - The Shanghai Composite Index is at 3873.15 points, above the six-month moving average, with a decline of 0.42% [1] - The total trading volume of A-shares today is 20,878.49 billion yuan [1] - A total of 128 A-shares have surpassed the six-month moving average, with notable stocks showing significant deviation rates [1] Summary by Category Stock Performance - Stocks with the highest deviation rates include: - Aienju (6.89% deviation, 9.39% increase, trading volume 22.19%) - Kaiteng Gas (4.10% deviation, 5.45% increase, trading volume 6.84%) - Huifeng Diamond (3.82% deviation, 10.50% increase, trading volume 19.75%) [1] - Other stocks that just crossed the six-month line include: - Two-sided Needle, China Merchants Securities, and Guangji Pharmaceutical with minimal deviation rates [1] Trading Data - The trading data for stocks that broke the six-month line includes: - Nanjing Public (4.20% increase, 4.78% trading volume, 6.46 yuan six-month line, 6.70 yuan latest price, 3.79% deviation) - Ji'an Medical (4.19% increase, 3.45% trading volume, 38.37 yuan six-month line, 39.79 yuan latest price, 3.70% deviation) [1] - The overall trading activity reflects a diverse range of stocks with varying performance metrics [1]

Core Viewpoint - The A-share market shows a positive trend with the Shanghai Composite Index closing at 3897.56 points, above the six-month moving average, reflecting a slight increase of 0.21% [1] Group 1: Market Performance - The total trading volume of A-shares reached 1681.524 billion yuan today [1] - A total of 127 A-shares have surpassed the six-month moving average, indicating a bullish sentiment in the market [1] Group 2: Individual Stock Performance - Stocks with significant deviations from the six-month moving average include: - Ainanju (证券代: 920770) with a deviation rate of 9.77% and a daily increase of 12.36% [1] - Huifeng Diamond (证券代: 920725) with a deviation rate of 5.80% and a daily increase of 12.63% [1] - Kaitian Gas (证券代: 920010) with a deviation rate of 5.69% and a daily increase of 7.07% [1] - Other notable stocks with smaller deviations include Jiangzhong Pharmaceutical, Qingdao Port, and Ningbo Energy, which have just crossed the six-month moving average [1]

本报告依据中国资产评估准则编制 欢乐家食品集团股份有限公司拟收购 PT. PRIMA COCO INDONUSA 椰蓉工厂土地、厂房和设备类资 产所涉及的土地使用权、厂房和设备类资产市场价值 评估项目 资产评估报告 中水致远评报字[2025]第 070055 号 (共1册,第1册) 中水致远资产评估有限公司 二〇二五年七月三十一日 中国资产评估协会 资产评估业务报告备案回执 | 报告编码: | 1311020131131701202500070 | | --- | --- | | 合同编号: | ZSZY [2025]0550 | | 报告类型: | 非法定评估业务资产评估报告 | | 报告文号: | 中水致远评报字[2025]第070055号 | | 报告名称: | 欢乐家食品集团股份有限公司拟收购PT. PRIMA COCO INDONUSA椰 蓉工厂土地、厂房和设备类资产所涉及的土地使用权、厂房和设 | | | 备类资产市场价值评估项目 | | 评估结论: | 43,461,000.00元 | | 评估报告日: | 2025年07月31日 | | 评估机构名称: | 中水致远资产评估有限公司 | | 签 ...