根据泰森食品公司的公告，被关闭的这家工厂位于内布拉斯加州列克星敦，日均可宰杀并处理大约5000头牛，约占全美日均牛肉屠宰数量的4.8%。与此同 时，公司还计划缩小得克萨斯州一家牛肉加工厂的生产规模，这家工厂每天大约可屠宰6000头牛。据悉，泰森此次业务调整影响两个工厂大约5000个工作岗 位。《华尔街日报》报道称，泰森是美国四大肉类加工公司中首家关闭主要牛肉加工厂的公司，其最新财报显示，2025财年牛肉加工是唯一亏损的业务部 门，调整后的营业亏损为4.26亿美元。 （央视财经《天下财经》）受牛肉加工业务亏损影响，当地时间21日，美国泰森食品公司发布公告称，将关闭位于内布拉斯加州的一家大型牛肉加工厂，还 计划缩小得克萨斯州一家牛肉加工厂的生产规模。 转载请注明央视财经 编辑：令文芳 美国内布拉斯加州的养牛业发达，牛群规模位居美国第二，仅次于得克萨斯州。但因近年来持续干旱、饲料成本上升，牧场面临生存困境，本土牛群规模降 至75年来低点。 ...

| ● 当時位置: 出页 > 政府信息 > 政府信息公开 > 主动公开目录 > 技主题语看 > 基金监管 > 进度公示 宏 引 明 | bm56000001/2022-00018143 | ର 费 | 其政策重合生产公社研 | | --- | --- | --- | --- | | 发布机构 | | 发文日期 | 2025年11月14日 | | 80 原 | 【行政许可事局】证券、基金经营机构行政府可申请受建及旱被鹰军公示。 | | | | 文 号 | | 主题调 | | | | 【行政许可事项】证券、基金经营机构行政许可申请受理及审核情况公示 | | | | 公平。公正和使民的原则,现对证券。基金经营机构行政件可受理及审核情况于以公称。 | 按照表临等实《中华人民共和国行政许可请》、《中国证券监督管理委员会行政许可共推理手设定》的要求。为现一步拓宽省政协可往为。以原考报民者为党意。港幣公开。 | | | 据悉，中信证券在10月份进行了两次"减少业务种类"的申请，此举引发市场关注。就此南都湾财社记者 向中信证券了解此次调整的具体背景，中信证券相关负责人向记者表示，"收购广州证券的后续事项"。 日前，中国证监会 ...

Core Insights - The company has shown steady growth in its cosmetics business, with specific brands like Yilian and Kemi demonstrating varying performance levels, while Aier Bozhi has seen a reduction in revenue decline [1][2] Group 1: Revenue Performance - For the first three quarters of 2025, the company's total revenue from cosmetics reached 1.569 billion yuan, a decrease of 8.17%, with Q3 revenue at 475 million yuan, down 9.1% [1] - Yilian's revenue for the first three quarters was 786 million yuan, an increase of 19.5%, with Q3 revenue at 232 million yuan, up 10% [1] - Aier Bozhi's revenue for the first three quarters was 646 million yuan, down 29%, with Q3 revenue at 195 million yuan, down 26%, although the decline has narrowed [1] - Kemi's revenue for the first three quarters was 77.19 million yuan, with a significant Q3 growth rate of 138% [1] Group 2: Profitability and Margins - In Q3 2025, the company reported revenue of 807 million yuan, a decrease of 7.97%, and a net profit attributable to shareholders of 34 million yuan, down 23.07% [2] - The gross profit margin for Q3 was 49.5%, a decline of 2.3 percentage points, primarily due to the drop in cosmetics business margins [2] - The net profit margin attributable to shareholders for Q3 was 4.18%, down 0.83 percentage points, while the adjusted net profit margin was 3.17%, down 1.31 percentage points [2] Group 3: Strategic Focus and Future Outlook - The company is undergoing a business adjustment that is expected to impact short-term profitability, with a focus on the recovery of Yilian and the promising growth of Kemi driven by new technology [2] - Aier Bozhi's revenue decline is expected to stabilize with the introduction of new products, and the management's return to frontline operations is anticipated to enhance the adjustment and recovery of the cosmetics business [2]

包括10日关闭的成都市华府大道店，2025年已关闭3家店。伊藤洋华堂在华门店将调整为成都（6家）和 北京（1家）共计7家店的布局。在北京运营的唯一门店"亚运村店"已于4月由综合超市转型为食品超 市…… 伊藤洋华堂将于11月10日关闭位于中国四川省成都市的"食品生活馆 华府大道店"。受个人消费停滞及 网上超市兴起等因素的影响，销售额持续低迷，因此决定关店。伊藤洋华堂正在调整中国业务，至此 2025年已关闭3家店。将通过缩减亏损门店，加紧改善中国业务的收益。 不过，近几年业绩持续低迷，2025年2月底关闭了"伊藤广场店"，6月关闭了"食品生活馆 金融城店"。 华府大道店11月10日关店后，伊藤洋华堂的在华门店将调整为成都（6家）和北京（1家）共计7家店的 布局。在北京运营的唯一门店"亚运村店"已于4月由综合超市转型为食品超市。 在日本，伊藤洋华堂最近几年除了大规模关店和裁员外，还推进了从起家的综合超市向食品超市转型等 结构改革，中国业务也在以改善收益为目标进行调整。 日经中文网 https://cn.nikkei.com 视频号推荐内容： 华府大道店于2018年11月开业，是食品、日用品、服装等商品一应俱全的综合 ...

Group 1 - BASF announced the integration of its Asian PolyTHF business into its Shanghai Caojing site and will cease production at its Ulsan facility in South Korea, with the closure expected to be completed by 2026 [1] - The decision is part of BASF's global production strategy assessment aimed at enhancing competitiveness in response to structural changes in the global chemical fiber market, including severe overcapacity [1] - After the Ulsan plant closure, BASF will continue to produce PolyTHF at its sites in China, Germany, and the USA, with a total capacity of 250,000 tons per year [1] Group 2 - Evonik announced the sale of its betaine business in Indonesia to Aekyung Chemical, marking a step towards its transformation into a sustainable specialty chemicals supplier [1] - Evonik has been gradually divesting its global betaine-related assets, having sold its business in Milton Keynes, UK, in August 2020, and its Virginia, USA, business in August 2022 [2] - Despite the divestitures, Evonik will continue its betaine operations in Europe and Latin America, as betaine is widely used in personal care products and other consumer goods [2]

Core Viewpoint - Jiangshan Oupai (603208.SH) announced that its wholly-owned subsidiaries, Henan Oupai and Chongqing Oupai, are facing insufficient orders and low capacity utilization due to overall industry downturn and intensified market competition, leading to continuous losses [1] Group 1: Company Actions - The company has decided to suspend operations at the two subsidiaries to reduce operational costs and losses, while transferring existing business and orders to the Zhejiang Jiangshan production base [1] - Future production resumption will depend on changes in market conditions [1] Group 2: Financial Implications - The expected asset disposal losses and personnel placement costs may impact the company's profit situation, with specifics to be determined based on the results of the auditing firm [1]

Core Viewpoint - The company announced the sale of a 40% stake in Shenzhen Fengchi Electronics Technology Co., Ltd. for 116 million RMB and the capital increase in Fengchi Electronics through the transfer of 100% equity of Shenzhen Anshida Technology Service Co., Ltd. valued at 104 million RMB, indicating a strategic adjustment to focus on core business and enhance cash flow [1][3] Group 1: Transaction Details - Shenzhen Chuangwei Digital will transfer 40% of its stake in Fengchi Electronics to Chuangwei Group for 116 million RMB [1] - Chuangwei Group will inject 104 million RMB into Fengchi Electronics by transferring its 100% stake in Anshida [1] - Post-transaction, Shenzhen Chuangwei Digital's stake in Fengchi Electronics will decrease from 84% to 32.40%, removing it from the consolidated financial statements [1] Group 2: Company Profiles - Fengchi Electronics, established in 2015, specializes in terminal equipment maintenance, call center operations, and logistics services, with operations in nearly 40 countries [2] - As of August 31, 2025, Fengchi Electronics reported total assets of 93.13 million RMB and a net asset of 60.33 million RMB, with a revenue of 290 million RMB and a net profit of 15.05 million RMB for the first eight months of 2025 [2] - Anshida, also founded in 2015, focuses on home appliance after-sales services and logistics, with total assets of 367 million RMB and a net asset of 73.72 million RMB as of August 31, 2025 [2] Group 3: Strategic Purpose - The company stated that the transaction aims to concentrate resources on core business, reduce related party transactions, and mitigate competition risks, thereby enhancing cash flow and sustainable development [3] - The estimated impact of the transaction on the company's profit for 2025 is projected to be 192 million RMB [3]

Core Insights - The food and beverage industry is undergoing a deep adjustment as consumer preferences shift from large brands and standardized products to functional, health-oriented, and localized options, leading to a decline in traditional growth strategies [1][10] Company Performance - Nestlé's CEO announced a global layoff plan affecting approximately 16,000 employees, including 12,000 white-collar jobs and 4,000 in production and supply chain roles, as part of a strategy to address declining sales and growth [2][11] - For the first nine months of 2025, Nestlé reported global sales of CHF 65.9 billion, a year-on-year decline of about 1.9%, with an organic growth rate of 3.3%, primarily driven by price increases rather than volume growth [2][6] - The organic growth rate in emerging markets was 5.2%, mainly attributed to pricing, while developed markets saw a lower organic growth rate of 2.1%, indicating a slowdown compared to long-term targets [2][6] Strategic Adjustments - The new CEO emphasized the need for actual internal growth as a primary goal and announced comprehensive measures including personnel optimization, process reengineering, and divesting inefficient businesses [3][11] - Nestlé has restructured its organization from five regions to three, indicating a strategic shift to allocate more resources to faster-growing and more profitable segments such as premium coffee, pet care, and health nutrition [5][11] Market Dynamics - Nestlé's growth is increasingly reliant on price increases rather than volume expansion, with coffee and candy being the strongest performing segments, although their growth is also driven by pricing strategies [6][7] - The pet food segment has shown resilience, achieving an organic growth rate of approximately 1.6%, indicating a stable market demand despite overall challenges [9][11] Consumer Trends - The company faces challenges from changing consumer preferences towards personalization, health consciousness, and emotional value, which are impacting brand loyalty and traditional business models [10][11] - The shift in consumer behavior, particularly in markets like China, where demand for high-sugar and high-fat products is declining, poses significant challenges for Nestlé's traditional product lines [11][13] Future Outlook - Nestlé is in a deep adjustment phase, with the layoffs being just the beginning of a broader strategic overhaul aimed at innovating its business model to align with new consumer demands [11][13] - The company's ability to adapt and innovate in response to market changes will be crucial for its future growth, as traditional strategies are becoming less effective [13][14]

Core Viewpoint - Michelin issued a profit warning due to unexpected challenges, particularly in its North American business, which significantly impacted year-end forecasts [1][2]. Group 1: Financial Performance - Until September, Michelin's financial results were in line with expectations, but a downturn in September necessitated a drastic adjustment to the year-end forecast [2]. - The North American market, accounting for approximately 40% of Michelin's group sales, was primarily responsible for the profit warning [3]. Group 2: Operational Changes - Michelin ceased operations with its largest tire wholesaler in the U.S. as of July 1, leading to a significant drop in volumes in Q3 compared to the previous year [3]. - The transition to redirect sales to other wholesalers is described as a one-off period that has affected current performance [3].

Core Viewpoint - The company is expected to experience a double-digit decline in earnings year-on-year for Q3 2025, indicating a continued adjustment phase in its operations [1] Group 1: Earnings Forecast - Q3 2025 earnings are projected to decline by double digits year-on-year due to slow recovery in the Chinese market and adjustments in business strategies [1] - The Eastern China region is anticipated to see a double-digit decline in revenue, while the Indian market continues its growth trend [1] - The Western Korean market may experience a slight revenue decline due to weak on-premise channels and pricing pressures [1] Group 2: Market Performance - The overall performance in overseas markets is better than in the domestic market, with the Korean market maintaining stability supported by pricing advantages and brand strength [2] - In the Korean market, a slight year-on-year decline in sales is expected, but performance is likely to remain better than the industry average [2] - The Indian market continues to show a robust growth trend, benefiting from the structural shift towards high-end products and non-on-premise channels [2] Group 3: Profitability and Valuation - Due to slower-than-expected recovery in the Chinese market, EBITDA forecasts for 2025 and 2026 have been reduced by 3.1% to $1.627 billion and $1.715 billion, respectively [2] - The target price is maintained at HKD 9.8, corresponding to 8.6x and 8.2x EV/EBITDA for 2025 and 2026, with the current stock price reflecting 7.1x and 6.7x EV/EBITDA multiples [2] - The current stock price presents a 21.3% upside potential compared to the target price, maintaining an outperform rating [2]