证券代码：002557 证券简称：洽洽食品 公告编号：2025-034 债券代码：128135 债券简称：洽洽转债 洽洽食品股份有限公司 关于使用自有资金进行投资理财的公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完 整，没有虚假记载、误导性陈述或重大遗漏。 一、概述 2025 年 4 月 23 日，洽洽食品股份有限公司（以下简称"公司"）第六届 董事会第十七次会议审议通过了《关于使用自有资金进行投资理财的议案》, 具体内容如下： （一）投资目的：提高公司自有资金的使用效率，为公司和股东创造较好的 投资回报； （二）投资主体：公司或公司控股子公司； （三）投资额度：不超过人民币29亿元，在上述额度内，资金可以滚动使用； （五）资金来源：公司自有资金； （六）投资期限：董事会授权公司总经理在上述额度内行使决策权，单个银 行短期理财产品的投资期限不超过一年；投资期限自股东大会决议通过之日起 1 年内有效； 本次投资理财事项不构成关联交易。 二、审批程序 1 针对每笔具体的理财事项，公司设立了理财小组，由总经理、财务总监、董 事会秘书等人员组成，总经理任组长，公司财务总部负责具体理财操作事项，并 向理财 ...

证券代码：002557 证券简称：洽洽食品 公告编号：2025-036 债券代码：128135 债券简称：洽洽转债 洽洽食品股份有限公司 关于举行 2024 年度及 2025 年第一季度业绩网上说明会的公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完 整，没有虚假记载、误导性陈述或重大遗漏。 洽洽食品股份有限公司(以下简称"公司")将于2025年5月15日（星期四） 下午15:00-17:00在全景网提供的网上平台举行2024年度及2025年第一季度业绩 网上说明会。本次年度业绩说明会将采用网络远程的方式举行，投资者可登录全 景网"投资者关系互动平台"（http://ir.p5w.net）参与本次年度业绩说明会。 出席本次网上说明会的人员：公司董事长、总经理陈先保先生，副董事长、 副总经理陈奇女士，董事、副总经理、董事会秘书陈俊先生，副总经理徐涛先生， 副总经理杨煜坤先生，财务总监胡晓燕女士，独立董事李姚矿先生，保荐代表人 孙彬先生。 为充分尊重投资者、提升交流的针对性，现就公司2024年度及2025年第一季 度业绩网上说明会提前向投资者公开征集问题，广泛听取投资者的意见和建议。 投资者可于202 ...

Financial Performance - The company's revenue for Q1 2025 was ¥1,570,972,741.36, a decrease of 13.76% compared to ¥1,821,560,933.22 in the same period last year[5] - Net profit attributable to shareholders was ¥77,247,792.43, down 67.88% from ¥240,476,526.90 year-on-year[5] - Basic earnings per share fell to ¥0.1524, a decline of 67.88% from ¥0.4744 in the same period last year[5] - Net profit for the period was ¥77,390,064.19, down from ¥240,661,829.01, indicating a decline of approximately 67.9% year-over-year[24] - Operating profit fell to ¥75,167,839.44 from ¥277,767,263.21, a decrease of around 72.9% year-over-year[24] - Total comprehensive income amounted to CNY 103,089,246.46, a decrease from CNY 219,088,282.55 in the previous period[25] Cash Flow - The net cash flow from operating activities decreased by 67.31%, amounting to ¥177,510,937.22 compared to ¥543,086,508.90 in the previous year[5] - Cash inflow from operating activities totaled CNY 1,916,662,976.26, compared to CNY 2,163,090,211.86 last year[26] - Cash outflow for investing activities was CNY 993,026,092.99, significantly higher than CNY 289,195,599.05 in the previous period[27] - Net cash flow from financing activities was CNY 27,930,288.60, a decrease from CNY 271,930,289.02 year-on-year[27] - The ending balance of cash and cash equivalents was CNY 4,357,375,606.75, down from CNY 5,159,819,236.92 in the previous period[27] - Cash received from investment recovery was CNY 742,097,720.41, compared to CNY 268,617,611.90 last year[27] - The company reported a decrease in cash received from sales of goods and services to CNY 1,867,380,613.05 from CNY 2,114,812,338.39[26] Assets and Liabilities - Total assets at the end of the reporting period were ¥9,465,909,232.30, down 5.88% from ¥10,057,056,869.68 at the end of the previous year[5] - Total liabilities decreased to ¥3,808,514,853.84 from ¥4,328,912,448.44, reflecting a decline of about 12.0%[21] - Total equity decreased to ¥5,657,394,378.46 from ¥5,728,144,421.24, a decrease of approximately 1.2%[21] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 50,667, with the largest shareholder holding 42.57% of the shares[11] - The company plans to repurchase shares with a total amount not less than RMB 40 million and not exceeding RMB 80 million, with a maximum repurchase price of RMB 47.48 per share[13] - As of March 31, 2025, the company has repurchased a total of 723,200 shares, accounting for 0.143% of the total share capital, with a total transaction amount of RMB 19,998,147[13] - The company’s repurchase account holds 8,542,269 shares, representing 1.69% of the total shares[14] - The company completed the cancellation of 1,147,400 repurchased shares, reducing the registered capital accordingly, with the cancellation amounting to RMB 59,977,700[17] - The company’s total share capital decreased from 507,002,492 shares to 505,855,092 shares after the cancellation[17] Other Financial Metrics - The company reported a significant increase in trading financial assets, rising by 98.82% to ¥60,629,000 from ¥30,494,000[9] - Accounts receivable increased by 169.78% to ¥17,290,000, primarily due to endorsements that have not yet matured[9] - Inventory decreased by 40.27% to ¥92,338,000, attributed to a reduction in raw material stock[9] - The company experienced a 66.42% reduction in income tax expenses, amounting to ¥1,899,000, due to a decrease in total profit[9] - Total operating revenue decreased to ¥1,570,972,741.36 from ¥1,821,560,933.22, representing a decline of approximately 13.7% year-over-year[23] - Total operating costs decreased to ¥1,517,750,607.61 from ¥1,558,264,845.58, reflecting a reduction of about 2.6% year-over-year[23] - The company reported a financial expense of -¥15,000,165.88, an improvement compared to -¥35,295,374.58 from the previous period[24] - Research and development expenses remained stable at ¥17,357,926.96, slightly down from ¥17,376,053.76[24] - Other comprehensive income after tax was ¥25,699,182.27, compared to a loss of -¥21,573,546.46 in the previous period[24] Audit Status - The company has not yet audited the first quarter report[29]

以下文章来源于天天IPO ，作者余梦莹 本文转载自 天天IPO 值班编辑 | 宝珠 视觉 | 顾芗 "你没事吧？没事就吃溜溜梅。" 12年前，杨幂这句魔性广告一度霸占各大卫视黄金档，也带火了一个蜜饯零食品牌——溜溜梅。4月16 日，溜溜梅背后的溜溜果园正式向港交所递交招股书，拟在主板挂牌上市，中信证券和国元国际为联席 保荐人。 始于占地不足十亩的夫妻档小公司，农民出身的杨帆实现了他年轻时代"走出去"的梦想。这匹休闲食品 垂类行业的新晋黑马，一年卖出20亿颗青梅，成为徽派创业大军最新一员。 安徽小城 走出一个梅子IPO 天天IPO . 投资界（PEdaily.cn）旗下，专注IPO动态 执掌着"中国第一梅"溜溜果园，媒体照片上的杨帆笑得温厚、朴实。很难将他和1988年辍学打工时的青 年形象联系在一起。 彼时正值改革开放的浪潮，19岁的杨帆离开家乡安徽芜湖，拿着50块钱踏上了北漂之路。从最初的推销 员到创立自己的商贸公司，杨帆逐渐在北京站稳了脚跟，并于1997年推出"凯旋"品牌，在膨化食品领域 小有积累。 三年后，杨帆决定回到家乡继续创业，成立芜湖市凯旋食品有限公司，主营糕饼系列产品。然而，90年 代末食品行业竞 ...

以下文章来源于天天IPO ，作者余梦莹 天天IPO . 投资界（PEdaily.cn）旗下，专注IPO动态 欢迎加入投资界读者群 第一线 IPO 报道，「天天 IPO 」系投资界旗下专注上市公司报道公众号，欢迎关注！ 溜溜梅要IPO了 。 作者 I 余梦莹 报道 I 投资界-天天IPO "你没事吧？没事就吃溜溜梅。" 为 什 么 在 中 国 吃 不 到 优 质 的 青 梅 食 品 ， 反 而 要 将 其 作 为 原 料 出 口 ？ 杨 帆 的 心 里 很 是 疑 惑，也开始萌生另一个创业念头。 12年前，杨幂这句魔性广告一度霸占各大卫视黄金档，也带火了一个蜜饯零食品牌—— 溜溜梅。4月16日，溜溜梅背后的溜溜果园正式向港交所递交招股书，拟在主板挂牌上 市，中信证券和国元国际为联席保荐人。 始 于 占 地 不 足 十 亩 的 夫 妻 档 小 公 司 ， 农 民 出 身 的 杨 帆 实 现 了 他 年 轻 时 代 " 走 出 去 " 的 梦 想。这匹休闲食品垂类行业的新晋黑马，一年卖出20亿颗青梅，成为徽派创业大军最新 一员。 安徽小城 走出一个梅子IPO 执掌着"中国第一梅"溜溜果园，媒体照片上的杨帆笑得温厚、 ...

Investment Rating - The report initiates coverage with a "Sell" rating for the company [1]. Core Views - The company is recognized as a leading player in the snack food sector, particularly in the spicy strip market, with a market share of 28% in 2023, significantly ahead of its competitors [9][15]. - The report highlights the successful price increases and channel adjustments that have contributed to revenue growth, particularly in the vegetable product category, which is expected to see a 59% increase in 2024 [9][39]. - The report emphasizes the potential for growth in the Chinese snack food market, particularly for spicy snacks, which are gaining popularity among consumers [77]. Summary by Sections 1. Snack Food Sector Leader - The company has established itself as a leader in the spicy strip market, with a strong brand identity and effective marketing strategies targeting younger consumers [9][23]. - The company has successfully transitioned from traditional distribution channels to modern ones, enhancing its market reach and stability [9][29]. 2. Growth of Vegetable Products - The vegetable product category, led by konjac products, has become the company's largest segment, with a compound annual growth rate (CAGR) of 49.8% from 2018 to 2024 [39]. - The company has optimized its product structure, leading to a decline in the share of other products while focusing on high-growth categories [39]. 3. Market Potential for Spicy Snacks - The report notes that the spicy snack market is still in its growth phase, with significant opportunities for leading companies to capitalize on consumer trends [77]. - The company is well-positioned to increase its market share in the spicy strip segment, with potential revenue growth projected to reach 39 billion yuan if sales recover to 2021 levels [88]. 4. Financial Projections and Valuation - The company is expected to achieve revenues of 78.6 billion yuan in 2025, with net profits projected at 13.8 billion yuan, corresponding to a price-to-earnings (P/E) ratio of 26 [9][1]. - The report suggests that the company's valuation could rise to 25-30 times earnings based on its growth potential and market positioning [9].

Investment Rating - The report maintains a "Recommendation" rating for the food and beverage industry, particularly highlighting the white wine sector as it is expected to clear and stabilize, with gradual improvements in the mass market [1]. Core Insights - The white wine sector is currently in a clearing and bottoming phase, with expectations for marginal improvement in the second half of the year. The industry has seen risks transition from off-balance sheet channels to on-balance sheet for most listed companies, leading to a slight slowdown in payment and delivery progress in Q1. However, leading companies have largely completed their initial targets for the year [4][9]. - In the mass market, beer shows signs of marginal improvement, with standout performance in the snack category, particularly for konjac products. The dairy sector is expected to rebound in Q2 after a period of adjustment [19][25]. Summary by Sections White Wine Sector - The white wine sector is in a clearing and bottoming phase, with expectations for improvement in the second half of the year. Q1 saw a slowdown in payment and delivery, but leading companies have met their initial targets [4][9]. - High-end brands like Moutai and Wuliangye are expected to see revenue and profit growth of approximately 9% and 10%, and 4% and 3% respectively in Q1 [10][12]. - The mid-range segment is experiencing varied performance, with brands like Fenjiu and Gujing showing growth, while others like Yanghe are facing challenges [10][12]. Mass Market - The beer sector is showing signs of recovery, with leading brands like Qingdao and Yanjing achieving revenue growth of 4% and 6% respectively in Q1 [26][29]. - The snack segment, particularly konjac products, is performing well, with brands like Salted and Wei Long seeing significant growth [19][25]. - The dairy sector is expected to improve as inventory levels stabilize, with companies like Yili and Mengniu showing resilience [25]. Investment Recommendations - The report suggests bottom-fishing in the white wine sector, with a focus on brands like Moutai, Wuliangye, and Fenjiu, while also recommending attention to the mass market for potential turning points in beer and dairy [5][19].

每经记者 章光日 每经编辑 吴永久 2025年3月29日，洽洽食品同时发布了两期员工持股计划延期的公告。其中，有一期员工持股计划属于第二次延期。2025 年4月2日，公司发布了关于股份回购进展情况的公告。然而，有投资者在深交所互动易上呼吁公司扩大回购资金规模。 洽洽食品员工持股计划为何延期？投资者为何呼吁公司扩大回购资金规模？接下来每经资本眼记者就来详细探究一番。 两期员工持股计划同时延期，浮亏均在四成左右 2025年3月29日，洽洽食品发布了公司关于第八期员工持股计划延期的公告和关于第五期员工持股计划延期的公告。相关 公告显示，第八期员工持股计划的存续期延长12个月，即延长至2026年5月10日，而第八期员工持股计划存续期原本为 2023年5月11日至2025年5月10日。第五期员工持股计划的存续期延长12个月，即延长至2026年4月7日，而第五期员工持股 计划的存续期原本为2021年4月8日至2024年4月7日。不难发现，公司第五期员工持股计划的存续期属于第二次进行延期。 每经资本眼记者注意到，洽洽食品上述两期员工持股计划目前皆处于大幅浮亏的状态。截至2025年4月11日收盘，洽洽食 品收盘价为26.17 ...

消费ETF（159928）标的指数成分股多数飘红：北大荒涨超9%，百润股份、洽洽食品涨超4%，中粮糖业、贝泰妮、华熙生物涨超3%。贵州茅台、伊利股 份微涨，五粮液、牧原股份、大北农涨超1%，温氏股份涨超2%。 消息面上，受海外关税冲击影响，昨日A股迎来大幅调整。临近收盘之时，中央汇金发布公告称，坚定看好中国资本市场发展前景，充分认可当前A股配置 价值，已再次增持了交易型开放式指数基金（ETF），未来将继续增持，坚决维护资本市场平稳运行。 贵州茅台公告称，已着手起草新一轮回购股份方案。据其披露，截至2025年4月7日已累计回购131.59万股，占总股本比例为0.1048%，累计支付金额为19.48 亿元。回购计划于2024年11月27日股东大会通过，预计回购金额为30亿元至60亿元，用于注销并减少注册资本。目前，公司将按照回购金额上限，尽快完 成剩余约40.5亿元的回购及股份注销程序。同时，公司控股股东已着手起草增持方案，并将在后续严格按照相关规定和程序进行信息披露。 资金持续流入，消费ETF（159928）近60日"吸金"近12亿元！截至4月7日，最新规模超143亿元处于历史高位！ 中信建投表示，关税等外部风 ...

Investment Rating - The industry investment rating is "Outperform the Market" and is maintained [2] Core Viewpoints - The revenue of the beverage and tea industry in January-February decreased by 0.4% year-on-year [2] - The overall performance of the food and beverage sector shows a slight increase, with the food and beverage index rising by 0.40% from March 24 to March 28, ranking third among 28 sub-industries [6][7] - The report recommends high-end liquor with stable demand and high growth certainty, including Guizhou Moutai, Wuliangye, and Luzhou Laojiao, as well as strong regional brands [18] Summary by Sections Industry Performance - From March 24 to March 28, the overall market index increased by 0.07%, while the food and beverage index increased by 0.40% [6][7] - The top-performing sectors were meat products (+2.86%), dairy products (+2.13%), and beer (+2.01%) [6] - Notable stock performances included Miaokelando (+28.66%), Guangming Meat (+13.02%), and Yanjinpuzi (+5.33%) [6] Company Announcements - Shuanghui Development reported a total revenue of 59.561 billion yuan for 2024, down 0.55% year-on-year [21] - Zhujiang Beer reported a total revenue of 5.731 billion yuan for 2024, up 6.56% year-on-year [21] - Sanquan Food reported a total revenue of 3.476 billion yuan for 2024, up 10.41% year-on-year [21] - Three squirrels reported a total revenue of 10.622 billion yuan for 2024, up 49.30% year-on-year [21] Industry News - The 112th National Sugar and Wine Commodity Fair is preparing to sign several major projects with a total investment exceeding 3 billion yuan [23] Consumer Data - In January-February 2025, the total retail sales of consumer goods increased by 4.0% year-on-year, while the catering retail sales increased by 4.3% [24] - The consumer confidence index for January 2025 was 87.5, down 1.57% year-on-year [24] Alcohol Industry Data - In January-February 2025, the production of liquor, beer, and wine decreased by 11.2%, 4.9%, and 25% year-on-year, respectively [29]