（来源：今晚报） #和府捞面 预制#近日，有多位消费者反映，"客单价在三四十元的和府捞面，浇头、汤底均是袋装，相 当于花高价吃预制面"，并称"在门店能看到后厨堆满塑料袋"。据新黄河报道，山东济南的王女士告诉 记者，为了避开"预制菜"而选择主打"养生面"概念的和府捞面，却吃得不舒心。"在店内就餐时看到， 后厨员工熟练地撕开一包包浓稠的褐色调料包，挤进面碗，再浇上一勺滚烫的汤，我点的那碗29元 的'草本酸辣肥牛面'就做好了。"记者实地走访济南多家和府捞面门店。在操作区，除了醒目的煮面 炉，最引人注目的是多个贴有代码标识的预制食材包装袋。将煮熟的面条放入碗中，随后拆开密封的汤 料包和真空浇头包进行组合……现场观察可见，工作人员从拆封、加热到组合出餐，全程使用预包装食 材。面对质疑，和府捞面回应称"产品都是当天制作"，且表示"由中央厨房统一配送，并非预制菜"。 转自：今晚报 ...

Core Viewpoint - Jinling Hotel's stock price has shown a modest increase this year, with various short-term gains, while the company faces a decline in revenue and net profit compared to the previous year [2][3]. Group 1: Stock Performance - On January 7, Jinling Hotel's stock rose by 2.08%, reaching 7.87 CNY per share, with a trading volume of 60.87 million CNY and a turnover rate of 2.01%, resulting in a total market capitalization of 3.069 billion CNY [1]. - Year-to-date, Jinling Hotel's stock price has increased by 0.77%, with a 1.03% rise over the last five trading days, a 0.77% increase over the last 20 days, and a 9.46% increase over the last 60 days [2]. Group 2: Financial Performance - For the period from January to September 2025, Jinling Hotel reported a revenue of 1.283 billion CNY, a year-on-year decrease of 7.52%, and a net profit attributable to shareholders of 40.07 million CNY, down 4.18% year-on-year [2]. - The company has distributed a total of 473 million CNY in dividends since its A-share listing, with 113 million CNY distributed over the past three years [3]. Group 3: Shareholder Information - As of September 30, 2025, the number of shareholders for Jinling Hotel was 30,200, a decrease of 10% from the previous period, while the average circulating shares per person increased by 11.11% to 12,927 shares [2]. - Among the top ten circulating shareholders, the Fortune China Securities Tourism Theme ETF holds 4.6969 million shares, an increase of 1.6557 million shares compared to the previous period, while the Jinyuan Shun'an Yuanqi Flexible Allocation Mixed Fund reduced its holdings by 27,400 shares to 1.7726 million shares [3].

行政处罚决定书显示，经查明，当事人于2024年12月26日，将自行设计制作印有"中式面馆第一品牌"的广告牌放置于各 直营门店(分公司)入口处，用于商品展示及对外宣传。2025年1月6日，执法人员依据举报对当事人直营分公司"和府捞 面"张杨北路店现场执法检查时，查见上述广告牌摆放在该门店店堂入口处。案发后，当事人立即对上述广告牌进行撤 换，至2025年1月20日，所有直营门店均完成整改。 近日，有多位消费者反映，"客单价在三四十元的和府捞面，浇头、汤底均是袋装，相当于花高价吃预制面"，并称"在 门店能看到后厨堆满塑料袋"。 据新黄河报道，山东济南的王女士告诉记者，为了避开"预制菜"而选择主打"养生面"概念的和府捞面，却吃得不舒 心。"在店内就餐时看到，后厨员工熟练地撕开一包包浓稠的褐色调料包，挤进面碗，再浇上一勺滚烫的汤，我点的那 碗29元的'草本酸辣肥牛面'就做好了。" 记者实地走访济南多家和府捞面门店。在操作区，除了醒目的煮面炉，最引人注目的是多个贴有代码标识的预制食材包 装袋。将煮熟的面条放入碗中，随后拆开密封的汤料包和真空浇头包进行组合……现场观察可见，工作人员从拆封、加 热到组合出餐，全程使用预包装食 ...

"交易+仓储"协同模式 打造高粘性生态闭环 有别于传统冷链企业的"冷冻食品仓储 + 门店租赁"经营模式，红星冷链将专业化低温仓储与活跃的交易 平台深度整合，实现"前店后仓、就地存储、即时交易"的生态闭环。 这种创新协同模式真正实现了双赢，站在客户角度，不仅降低了综合成本还提升了交易效率;而站在公 司角度，这种商业模式使红星冷链能够通过多种方式变现其冷链资源，即向冷冻食品批发商及零售商出 租门店用于开展冷冻食品交易业务，同时为他们提供冷冻食品仓储服务，从而获得双重收入来源。 2026年开年，港股市场延续火热，强势收复26000点关口。在预制菜普及、冷链物流爆发、高品质冷冻 食品需求攀升的窗口期，一家扎根湖南、深耕冷链物流近二十年的冷链物流标杆企业——红星冷链 (01641)正悄然站上资本的舞台上。这家区域冷链龙头凭借独特的"交易+仓储"闭环模式、全方位的冷链 服务矩阵以及自动化技术基础设施，形成了高毛利、高客户粘性、高效率的竞争优势体系。 在装卸环节，红星冷链配备经验丰富的操作人员和专业设备。在干线运输方面，红星冷链与拥有专业冷 藏车队和实时跟踪系统的第三方物流服务商合作，实现全程监控货物运输、确保温度控制和及 ...

1月6日，步步高（维权）盘中上涨2.06%，截至10:13，报5.46元/股，成交2.45亿元，换手率2.11%，总 市值146.80亿元。 资金流向方面，主力资金净流入171.61万元，特大单买入2161.40万元，占比8.83%，卖出2140.08万元， 占比8.74%；大单买入4345.56万元，占比17.76%，卖出4195.27万元，占比17.14%。 步步高今年以来股价涨2.82%，近5个交易日跌0.73%，近20日涨8.12%，近60日跌2.15%。 资料显示，步步高商业连锁股份有限公司位于湖南省长沙市东方红路649号步步高大厦，成立日期2003 年12月11日，上市日期2008年6月19日，公司主营业务涉及商品零售业务。主营业务收入构成为：超市 64.34%，其他(补充)27.44%，百货6.01%，物流及广告2.21%。 步步高所属申万行业为：商贸零售-一般零售-超市。所属概念板块包括：社区团购、预制菜、新零售、 冷链物流、统一大市场等。 截至9月30日，步步高股东户数17.25万，较上期增加95.00%；人均流通股12476股，较上期减少 27.06%。2025年1月-9月，步步高实现营业 ...

截至9月30日，紫燕食品股东户数1.12万，较上期增加37.82%；人均流通股36887股，较上期增加 339.22%。2025年1月-9月，紫燕食品实现营业收入25.14亿元，同比减少6.43%；归母净利润1.94亿元， 同比减少44.37%。 分红方面，紫燕食品A股上市后累计派现9.78亿元。 资金流向方面，主力资金净流入27.99万元，大单买入135.37万元，占比11.03%，卖出107.38万元，占比 8.75%。 机构持仓方面，截止2025年9月30日，紫燕食品十大流通股东中，金鹰红利价值混合A（210002）退出 十大流通股东之列。 紫燕食品今年以来股价跌0.44%，近5个交易日涨3.69%，近20日涨14.15%，近60日涨4.27%。 1月6日，紫燕食品盘中上涨2.27%，截至09:39，报20.25元/股，成交1227.42万元，换手率0.15%，总市 值83.74亿元。 资料显示，紫燕食品集团股份有限公司位于上海市闵行区申南路215号，成立日期2000年6月9日，上市 日期2022年9月26日，公司主营业务涉及卤制食品的研发、生产和销售。主营业务收入构成为：鲜货产 品81.43%，其中: ...

2026年1月1日，对于创立37年的西贝来说，意义绝不仅仅是一个辞旧迎新的日子。这个新年，是西贝从 风波开始后，用113天时间进行的从舆论风暴到信任重建的新起点。在硬刚老罗、混乱开局之后，西贝 选择闭麦认真调改。同时连续发放大额补贴，包括任意消费送100元优惠券及满50返50活动。目前，西 贝已经停止大额补贴。 1月1日，记者走访包括风波事发地在内的5家北京门店，探访真实的西贝近况。 1月3日晚餐高峰时段过后，记者从西贝方面了解到：元旦期间，西贝全国门店客流约为50万人次，全国 整体客流情况未受补贴停止影响。 回看风波起始，一个"吐槽"从针对单一品牌蔓延为整个行业的大辩论，议题涵盖现炒与预制、效率与烟 火气、透明与信任……这场风波的发生，也为处于转型十字路口的中国餐饮业提供了关于食品工业化、 供应链升级与消费者信任重建的深层思考。 元旦假期北京多家门店就餐高峰时段需排队 西贝祥云小镇店店长介绍，1月1日全天客流438人，当日午餐上座率为144.9%。同时，店长透露，该门 店外卖单量占比较大，全天外卖订单约300单。门店大部分客人都是熟客，服务员与绝大多数前来就餐 的儿童顾客也都认识。此前，西贝方面曾透露，在1 ...

Core Insights - The demand for convenient food products, such as canned beef, is increasing due to fast-paced urban lifestyles, catering to office workers, students, and outdoor enthusiasts [1][5] - The canned beef market in China is projected to reach a scale of 4.658 billion yuan in 2024, with a year-on-year growth of 5.5% [1][8] - Health-conscious consumers are increasingly favoring organic, low-salt, low-fat, and additive-free products, creating new growth opportunities for the canned beef industry [1][8] Overview - Canned beef is produced from fresh or frozen beef through processes such as pre-treatment, marination, pre-cooking, canning, sealing, and sterilization, allowing for long-term storage and convenient consumption [2][4] - Canned beef retains nutritional value and is a rich source of protein, vitamins, and minerals, making it suitable for emergency food reserves [2][4] Market Policies - Recent policies in China emphasize food safety, requiring strict quality control and management across all production, processing, and distribution stages of canned beef [5] - These regulations aim to promote a standardized, green, and high-quality development of the canned beef industry [5] Industry Chain - The upstream of the canned beef industry includes beef, seasonings, packaging materials, and production equipment, while the midstream consists of canned beef manufacturers [4][6] - Downstream channels include supermarkets, convenience stores, restaurants, and e-commerce platforms, with traditional retail remaining the primary sales channel [4][6] Current Development - The consumption scenarios for canned beef have expanded from traditional family meals and outdoor activities to include ready-to-eat meals and industrial catering, further increasing market demand [1][5] - The industry is experiencing a shift towards health-oriented products, with a focus on low-salt, low-fat, and zero-additive options [1][8] Competitive Landscape - The canned beef industry in China is characterized by a fragmented market with many small to medium-sized enterprises, while major players include companies like Shanghai Bright Meat Group and Henan Shuanghui Investment & Development Co., Ltd. [2][9] - These leading companies leverage scale, technological innovation, and brand strength to maintain competitive advantages [9] Development Trends - Health-focused product development is becoming a core direction, with companies moving towards clean label and functional products [12] - Flavor and form diversification is expected, with companies introducing regional and international flavors and new product forms [13] - Environmental sustainability in production and packaging is gaining importance, with a shift towards biodegradable and recyclable materials [14] - Vertical integration within the industry is deepening, with leading companies establishing long-term partnerships with beef suppliers and enhancing logistics and sales channels [15]

Core Viewpoint - The announcement of the equity change by Shandong Delisi Food Co., Ltd. reveals the failure of its expansion strategy outside the province, particularly in the prepared food sector, culminating in a loss exceeding one million yuan from its investment in Sichuan Dingdelisi Sauce Industry Co., Ltd. [1] Group 1: Investment and Financial Performance - Delisi invested 2.5 million yuan to acquire a 25% stake in Dingdelisi Sauce Industry in September 2022, aiming to leverage its advantages in raw materials and processing to expand into the southwestern market [2][3] - The investment in Dingdelisi has resulted in continuous losses, with reported losses of 400,400 yuan in 2023, 441,000 yuan in 2024, and 179,600 yuan in the first half of 2025, totaling 1,021,000 yuan over three years, reflecting a negative return on investment of 40.8% [4] - Delisi has faced significant financial challenges, reporting net losses of approximately 33.99 million yuan in 2023 and 33.67 million yuan in 2024, with revenues declining by about 4.1% to 2.965 billion yuan in 2024 [9][10] Group 2: Strategic Decisions and Market Position - Following Delisi's exit from Dingdelisi, the latter changed its name to remove "prepared food," indicating a shift away from this market segment, which has become a burden rather than an opportunity [6][8] - The exit and rebranding suggest a mutual recognition of the declining prospects in the prepared food sector, with both companies acknowledging the need to withdraw from a failing market [8] - Delisi's core business in chilled and frozen meat has also been under pressure, with revenues from this segment declining by 10.51% in 2024 and further decreasing by 1.25% in the first half of 2025, indicating a weakening position in its primary revenue source [13][14] Group 3: Compliance and Operational Challenges - Delisi has encountered compliance issues, including being suspended from military procurement activities due to allegations of submitting false materials, which raises concerns about its internal controls and operational integrity [19][20] - The repeated compliance violations suggest a lack of adequate oversight and management awareness of regulatory boundaries, potentially complicating future recovery efforts [20]

Investment Rating - The report gives the company a "Buy" rating for the first coverage [7]. Core Insights - The company has solidified its leading position in the Chinese frozen food industry with a market share of 6.6% as of 2024, ranking first overall and significantly leading in specific segments such as frozen prepared foods and frozen dishes [2][17]. - The company is shifting from a "channel-driven" approach to a "new product-driven" strategy, expanding into the frozen baking sector through acquisitions, which is expected to create a second growth curve [5][16]. - The domestic frozen food market is characterized by low concentration and high growth potential, with a projected compound annual growth rate (CAGR) of 9.4% from 2024 to 2029, driven by increasing consumer demand and low per capita consumption compared to mature markets [4][46]. Summary by Sections Company Overview - The company was founded in 2001 and has established a nationwide marketing network, with significant strategic initiatives since its IPO in 2017, including entering the frozen dish market and expanding its product offerings through acquisitions [15][18]. - The company has developed a diverse product matrix with over 500 products, focusing on frozen prepared foods, frozen dishes, and frozen noodle products, maintaining a strong market position in each category [21][24]. Industry Analysis - The global frozen food market is expanding, with a projected size of $417.7 billion in 2024 and a CAGR of approximately 6.0% from 2024 to 2029, with Asia leading the growth at 7.8% [3][39]. - China's frozen food market is the second largest globally, with a market size of approximately $31.4 billion in 2024 and a low concentration ratio (CR5) of 15%, indicating significant consolidation opportunities [4][41]. - Emerging markets like Southeast Asia are expected to grow rapidly, with a projected CAGR of 14.0% from 2024 to 2029, driven by demographic trends and changing consumer habits [4][46]. Financial Forecast and Investment Recommendations - The company is expected to achieve revenues of 158.36 billion, 169.68 billion, and 184.38 billion yuan for the years 2025 to 2027, with year-on-year growth rates of 4.69%, 7.15%, and 8.66% respectively [5][69]. - The net profit attributable to the parent company is forecasted to be 14.15 billion, 15.66 billion, and 17.50 billion yuan for the same period, with growth rates of -4.73%, 10.73%, and 11.74% respectively [5][69].