民生证券给予盐津铺子推荐评级：魔芋品类持续高增，规模效应逐步显现

Group 1 - The core viewpoint of the report is that Minsheng Securities recommends Yanjinpuzi (002847.SZ) due to its successful global expansion in the konjac product category and significant growth in overseas markets [2] - The report highlights that the gross profit margin has been affected by raw material costs, but cost control measures are expected to show significant effects by Q2 2025 [2] Group 2 - The report identifies potential risks including underperformance in new product promotions, insufficient channel expansion, rising raw material prices, intensified industry competition, and food safety risks [2]