Group 1 - The 16th China Food Safety Forum was held on September 11 in Beijing, focusing on the theme "Integrity and Lawfulness, Sharing Food Safety" [2] - The forum aims to promote high-quality development in China's food industry by gathering government departments, industry experts, research institutions, and corporate representatives to discuss food safety issues [2] - The forum has been instrumental in enhancing public awareness and trust in food safety over the past 16 years [2] Group 2 - The Director of the Food Coordination Department of the State Administration for Market Regulation emphasized the need for social participation and governance in addressing complex food safety issues [3] - The media plays a crucial role in enhancing public confidence and promoting transparency in food safety information [3] Group 3 - Beijing's food safety governance capabilities have improved, leading to increased public satisfaction regarding food safety [4] - The city is implementing stricter and higher standards for food safety to ensure the safety of its citizens [4] Group 4 - The Director of the Nutrition and Health Research Institute at China Agricultural University proposed three strategies for food safety governance: leveraging technology, solidifying industry responsibility, and promoting collaborative governance [6] - As of now, China has released 1,725 national food safety standards covering over 340 food categories, with 126 new standards published this year [6] Group 5 - Major companies like COFCO and Mengniu are adopting advanced technologies such as big data and AI to enhance food safety across their supply chains [6][7] - The implementation of a "zero-risk" strategy by Ferrero China aims to ensure comprehensive risk management throughout the food production process [9][10] Group 6 - The forum highlighted the importance of reducing food waste and promoting sustainable practices, with initiatives like the "KFC Food Station" providing surplus food to those in need [8] - The event also discussed the internal motivation of food companies to take responsibility for food safety, emphasizing the need for proactive participation rather than reactive compliance [9]

Core Viewpoint - The company is focusing on long-term development and transformation from a traditional food manufacturer to a modern research, production, and sales platform, while addressing investor concerns about cash reserves and expansion plans [2] Group 1: Diversification and Investment Strategy - The company emphasizes internal investments and seeks quality targets for mergers and acquisitions that align with its core business needs to enhance competitiveness and risk resilience [2] - The goal is to transition from a "traditional food modern manufacturing enterprise" to a "traditional food modern research, production, and sales platform enterprise" [2] Group 2: Digital Transformation - The company has successfully implemented the SAP ERP management system in its airport subsidiary and is focusing on establishing an intelligent production data platform [3] - Key user training and data migration have been completed, with plans for refined monitoring and tracking of production plans in the second half of the year [3] Group 3: Sales Channel Development - Significant achievements in sales channel expansion include a 22% year-on-year revenue increase from e-commerce channels through live streaming and social media [4] - The company has opened five new direct sales stores in key locations and established a subsidiary in Hebei for market expansion [4] - An overseas division has been created to develop export business, with the sub-brand Wang Ji Mahua obtaining HALAL certification [4] Group 4: Marketing Strategies - The company is preparing for major marketing events such as the National Day and Mid-Autumn Festival, launching special products and promotional activities [5] - Brand promotion efforts are integrated with local tourism and consumer hotspots, utilizing both online and offline channels for marketing [5] Group 5: Product Innovation and Market Expansion - The company is committed to product innovation while addressing concerns about high sugar and oil content, focusing on integrating traditional techniques with new food elements [6] - Plans to expand the market through direct brand stores and a combination of e-commerce and distribution are in place, with significant growth in e-commerce business [6] - New mooncake products and gift boxes have been launched, receiving positive consumer feedback [6]

Investment Rating - The report assigns an "Accumulate" rating for the company, marking its first coverage [5][8]. Core Viewpoints - The company is a leading player in the prepared cold dish sector and plans to issue convertible bonds to enhance its production capacity [5][8]. - The prepared dish market in China is expected to grow significantly, with the seafood prepared dish market projected to exceed 200 billion yuan by 2025 [7][20]. - The company has a strong focus on R&D and has established a dual factory model to support growth in both domestic and international markets [55][53]. Summary by Relevant Sections Market Performance - As of September 9, 2025, the closing price is 14.39 yuan, with a market capitalization of 2,022.02 million yuan and a circulating market value of 866.03 million yuan [3]. Financial Forecast and Valuation - Revenue projections for the company are as follows: 490 million yuan in 2023, 534 million yuan in 2024, and 600 million yuan in 2025, with a year-on-year growth rate of 34.75%, 9.04%, and 12.36% respectively [6][8]. - The net profit attributable to shareholders is expected to be 35 million yuan in 2023, 41 million yuan in 2024, and 45 million yuan in 2025, with corresponding growth rates of 8.08%, 17.79%, and 9.84% [6][8]. - The company’s P/E ratios are projected to be 57.98, 49.23, and 44.82 for the years 2023, 2024, and 2025 respectively [6][8]. Industry Insights - The prepared dish market in China reached a scale of 3,616 billion yuan in 2023, with a year-on-year growth of 23% [7][20]. - The penetration rate of prepared dishes in China is currently between 10%-15%, indicating significant room for growth compared to 60% in the US and Japan [9][24]. - The company is well-positioned to capitalize on the growing demand from both B-end (business) and C-end (consumer) markets, with a focus on enhancing product standardization and efficiency in the restaurant industry [9][20]. Company Overview - The actual controller of the company holds a 56% stake, with the largest shareholder being Shanghai Lexiangjia Industrial Co., Ltd., which owns 48.32% of the shares [34][55]. - The company has over 20 years of experience in food exports and offers a diverse range of products, including marine vegetables, nutritional mushrooms, and seafood delicacies [34][55]. - The company has established a strong R&D capability, with 46 patents granted as of 2024, and is actively involved in setting industry standards [53][55]. Production Capacity and Expansion - The company is entering a "dual factory" phase, with new facilities in both Singapore and Jiangsu, aimed at enhancing production capacity and meeting growing market demands [55][57]. - Plans to raise up to 150 million yuan through convertible bonds will be directed towards the construction of a facility with an annual capacity of 7,000 tons for seafood and meat products [57][58].

中国经济网北京9月11日讯(记者 鞠然) 秋风送爽，食安护航，2025年全国食品安全宣传周如期而 至，宣传周主场活动于国家会议中心举办，门前一排"尚德守法 共享食安"主题旗帜迎风舒展。 活动开始前，参会代表们身着行业制服或正装，在会场入口处的展区驻足，参观企业带来的最新技 术产品，围绕"智慧监管""校园食安"等话题展开探讨。随着暖场片音乐响起，一场关乎"舌尖上的安 全"的年度盛会拉开帷幕。 德法并举，凝聚共治，共筑食安防线 "本届食品安全宣传周以'尚德守法 共享食安'为主题，就是要德法并举、综合施策。"国务院食安办 主任、市场监管总局局长罗文的致辞为本次宣传周锚定基调。他指出，本届食品安全宣传周要把"尚 德"作为食品从业人们的价值理念，把"守法"作为落实主体责任的行为准则，把"共享"作为守护食品安 全的共同目标，积极推动食品生产经营者落实主体责任，广泛动员社会各方共建共治共享食品安全。 图为2025年全国食品安全宣传周主场活动门前 中国经济网记者李凡/摄 市场监管总局则对重点地区、重点领域、重点品种、重点环节开展食品安全专项整治，今年以来， 贯通检查食品生产销售主体256.76万家次，收缴假冒伪劣食品1361 ...

Group 1 - The food processing sector increased by 0.66% on September 11, with Jiyuan Group leading the gains [1] - The Shanghai Composite Index closed at 3875.31, up 1.65%, while the Shenzhen Component Index closed at 12979.89, up 3.36% [1] - Key stocks in the food processing sector showed various performance, with Jiyuan Group closing at 32.99, up 3.32%, and *ST Chuntian at 4.90, up 2.51% [1] Group 2 - The food processing sector experienced a net outflow of 35.10 million yuan from institutional funds, while retail investors saw a net inflow of 62.52 million yuan [2] - Major stocks like Jiyuan Group and Guangming Meat Industry had significant net inflows from institutional and retail investors, indicating varied investor sentiment [3] - The overall trading volume and turnover in the food processing sector reflected active market participation, with notable transactions in stocks like Jiyuan Group and Jinzi Ham [1][2]

Core Points - The Xi'an Yanta District Market Supervision Administration conducted food safety inspections in the area, revealing 27 batches of compliant products and 2 batches of non-compliant products [1][2]. Group 1: Non-Compliant Products - The first non-compliant product was a red sugar product from Shaanxi Jimeng Trading Co., which exceeded the total sugar content limit at 56.5g/100g, while the standard is ≤45g/100g [2]. - The second non-compliant product was a dish from Xi'an Yunling Wuwuzi Catering Service, which contained sodium dodecylbenzenesulfonate at 0.41mg/100cm², exceeding the permissible limit [2]. Group 2: Compliant Products - Among the compliant products, notable mentions include: - Fresh mango from Shaanxi Yonghui Supermarket, inspected on July 14, 2025 [3]. - Domestic red heart dragon fruit from the same supermarket, also inspected on July 14, 2025 [3]. - Pure milk from Zhongken Huashan Dairy Co., inspected on June 16, 2025 [3]. - The inspections were conducted by Shaanxi Keyi Sunshine Testing Technology Service Co., ensuring the quality of food products in the market [3][4].

Core Points - The Xi'an Yanta District Market Supervision Administration conducted food safety inspections, revealing 23 batches of compliant products and 3 batches of non-compliant products [1][2][3] Group 1: Non-Compliant Products - Three batches of food products were found non-compliant, including: - A sample from Xi'an Yunling Wuweizi Catering Service Co., which tested positive for coliform bacteria at a level of 50 cm² [1] - A sample from Xi'an Haosheng Catering Co., also testing positive for coliform bacteria at the same level [1] - A sample from a hot pot restaurant that contained a pesticide residue (carbendazim) of 0.68 mg/kg, exceeding the standard limit of 0.04 mg/kg [1] Group 2: Compliant Products - A total of 23 batches of food products were reported as compliant, including: - Products from Shaanxi Jingsha River Noodle Industry Co., including high-gluten noodles and flour [2] - Red Bull vitamin drinks from Hubei Red Bull Co. [2] - Various food items from local suppliers, including ham, chicken legs, and other processed foods [2][3]

Core Viewpoint - The event highlighted the commitment of Tianjin-listed companies to engage with investors and enhance value through effective communication and performance reporting [1] Company Overview - Guifaxiang (002820) focuses on traditional Chinese cuisine, leveraging "national intangible cultural heritage" production techniques while integrating new food elements to innovate products [1] - The company aims to meet diverse consumer demands through continuous product innovation [1] Investment Strategy - The company has been actively identifying quality targets that align with its core business development needs for investment and mergers [1] - By utilizing its own advantages and experience, the company seeks to cultivate and expand into new business areas, thereby enhancing its competitiveness and risk resilience [1] - The strategy is aimed at supporting scale growth and improving overall corporate strength [1]

香 港 交 易 及 結 算 所 有 限 公 司 及 香 港 聯 合 交 易 所 有 限 公 司 對 本 公 告 之 內 容 概 不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示，概 不 對 因 本 公 告 全 部 或 任 何 部 份 內容而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 自願公告 收購土地使用權 董事會欣然宣佈，於2025年9月10日，本公司透過其於中國的全資附屬公司通過公開 競 買 成 功 中 標 兩 幅 地 塊 的 土 地 使 用 權，總 代 價 為 人 民 幣30.68百 萬 元。該 等 地 塊 均 位 於 中 國 廣 東 省 珠 海 市 金 灣 區，並 由 珠 海 市 自 然 資 源 局 以 網 上 掛 牌 的 方 式 公 開 出 讓。 預期將於2025年9月23日前就地塊收購與珠海市自然資源局訂立國有建設用地使用 權出讓合同。該等地塊毗鄰珠海日清，將由本集團用作建設新生產設施。 上市規則的涵義 由於上市規則第14.07條項下有關地塊收購事項的各項適用百分比率均低於5%，故地 塊收購事項並不構成上市規則第14章項下的本公司須予公佈交 ...

Core Points - Xi'an Yanta District Market Supervision Administration conducted food safety inspections, revealing 31 batches of compliant products and 2 batches of non-compliant products [2][3][4] Group 1: Inspection Results - A total of 31 batches of food products were found to be compliant with safety standards [2][3] - Two batches were reported as non-compliant, with specific issues identified such as the presence of coliform bacteria and anionic synthetic detergent [2][4] Group 2: Non-Compliant Products - Non-compliant products included food items from local restaurants, with specific details on the type of food, production dates, and the nature of the violations [2][4][5] - The non-compliant products were linked to specific establishments, highlighting the need for improved food safety practices in the local food service industry [2][3] Group 3: Compliant Products - The compliant products included a variety of food items from different manufacturers, indicating a generally positive compliance rate within the inspected units [3][4] - The inspection covered a range of food categories, showcasing the diversity of products available in the Yanta District [3][5]