佛山市海天调味食品股份有限公司（下称"公司"）董事会审计委员会根据 《上市公司治理准则》《上海证券交易所股票上市规则》《上海证券交易所上 市公司自律监管指引第1号—规范运作》《公司章程》和公司《董事会审计委员 会议事规则》的有关规定，在职责范围内开展工作。现就审计委员会2024年度 的履职情况汇报如下： 一、董事会审计委员会基本情况 佛山市海天调味食品股份有限公司 董事会审计委员会 2024 年度履职情况报告 过了《公司2024年第三季度报告》，并同意将上述议案提交公司董事会审议。 过了《关于公司发行H股之前滚存利润分配方案的议案》《关于聘请H股发行并 上市审计机构的议案》，并同意将上述议案提交公司董事会审议。 公司董事会审计委员会由五名董事组成，其中三名独立董事，委员会召集 人由具有会计专业资格的独立董事担任。公司于2024年9月19日召开2024年第一 次临时股东大会选举产生第六届董事会董事，并于同日召开第六届董事会第一 次会议选举产生公司第六届董事会审计委员会成员：屈文洲（会计专业人士， 召集人）、张科春、丁邦清、文志州、廖长辉。在此之前，公司第五届董事会 审计委员会成员包括：沈洪涛（会计专业人士，召集 ...

佛山市海天调味食品股份有限公司 证券代码：603288 股票简称：海天味业 公告编号：2025-015 关于2024年度"提质增效重回报" 行动方案的评估报告 本公司董事会及全体董事保证本公告内容不存在虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 为推动公司高质量发展和投资价值的提升，切实保障和维护投资者合法权 益，增强投资者回报，佛山市海天调味食品股份有限公司（以下简称"公司"） 制定了2024年度"提质增效重回报"行动方案，具体内容详见公司于2024年7月 提质增效重回报"行动方案的公告》。公司积极推动落实相关工作，并取得阶段 性的成效和进展，具体情况总结如下： 一、聚焦主营业务，提升公司经营质量 公司聚焦调味品主业发展不动摇，坚守以用户至上为经营理念，围绕多元需 求、多场景、多区域饮食等方向，坚持不懈推进"精品工程"落地，持续为用于提 供营养健康、质量稳定、高质价比的海天产品。 目前，公司已形成了全面的品类布局，包括酱油、蚝油、调味酱、食醋、料 酒、鸡精鸡粉、番茄沙司、辣椒酱等其他特色调味品。 二、加快发展新质生产力，多举措提质增效 公司坚持高质量发展战略，坚持科 ...

证券代码：603288 证券简称：海天味业 公告编号：2025-010 佛山市海天调味食品股份有限公司 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 随着公司及子公司海外市场的开拓，在日常经营过程中涉及跨境采购、产品 出口等外币业务，海外收支业务逐步提升，为更好地应对汇率或利率波动风险， 公司需开展外汇衍生品交易业务。公司开展外汇衍生品交易业务与公司日常经营 需求紧密相关，是基于公司外汇收支业务具体情况开展，以套期保值为目的，不 进行投机和非法套利。 （二）交易金额 结合公司实际经营情况，预计使用不超过人民币20亿元或等值外币额度开展 外汇衍生品交易业务，额度内可循环使用。上述不超过20亿元人民币或等值外币 额度是指公司外汇衍生品交易业务在任一时点开展交易的金额不超过该额度。 （三）资金来源 公司自有资金或自筹资金，不涉及使用募集资金的情况。 （四）交易方式 等价格波动将对衍生品交易产生潜在损失。 人为判断偏差，或未按既定程序操作而造成损失的风险。 的风险。 （二）风险控制措施 公司仅与具有外汇衍生品交易业务 ...

佛山市海天调味食品股份有限公司 KPMG Huazhen LLP 毕马威华振会计师事务所 Oriental Plaza 中 国北京 Beijing 100738 东 方广场毕马威大楼 8 层 China 邮政编码:100738 Telephone +86 (10) 8508 5000 电 话 +86 (10) 8508 5000 Fax +86 (10) 8518 5111 传真 +86 (10) 8518 5111 Internet kpmg.com/cn 网 址 kpmg.com/cn 毕马威华振审字第 2509101 号 佛山市海天调味食品股份有限公司全体股东： 按照《企业内部控制审计指引》及中国注册会计师执业准则的相关要求，我们审计了佛山 市海天调味食品股份有限公司 (以下简称"海天公司") 2024 年 12 月 31 日的财务报告内部控 制的有效性。 一、企业对内部控制的责任 按照《企业内部控制基本规范》、《企业内部控制应用指引》、《企业内部控制评价指 引》的规定，建立健全和有效实施内部控制，并评价其有效性是海天公司董事会的责任。 二、注册会计师的责任 我们的责任是在实施审计工作的基础上，对财务报 ...

佛山市海天调味食品股份有限公司 作为佛山市海天调味食品股份有限公司（以下简称"公司"）董事会的独立董事， 本人严格按照《中华人民共和国公司法》 《中华人民共和国证券法》 《上市公司独立 董事管理办法》等相关法律法规的要求和《公司章程》及《公司独立董事工作制度》 的规定，持续保持独立性，忠实履行独立董事的职责，积极参与公司重大事项决策， 客观、公正、审慎发表意见，充分发挥独立董事的作用，维护公司整体利益和全体 股东特别是中小股东利益，现将 2024 年履职情况报告如下： 一、独立董事的基本情况 二、 独立董事年度履职概况 （1）本年度出席股东大会、董事会情况 均亲自出席。本人在认真审议上述会议各项议案、充分发表意见的基础上，未对 各项议案提出异议，均投出同意票，没有反对及弃权的情况。 参加股东大 参加董事会情况 会情况 独立董 是否连续 应参加 本人丁邦清，1965年7月出生，武汉大学哲学硕士，曾任广东省广告集团股份有 限公司副董事长兼总裁等职务；现任七溪地芳香集团有限公司董事长、中国广告协 会学术与教育工作委员会副主任。 经公司2024年第一次临时股东大会选举，本人自2024年9月19日起担任公司独 立董事， ...

一、主要会计数据和财务指标 | 报告期指标 | 2024年年报 | 2023年年报 | 本年比上年增减(%) | 2022年年报 | | --- | --- | --- | --- | --- | | 基本每股收益（元） | 1.1400 | 1.0100 | 12.87 | 1.1100 | | 每股净资产（元） | 5.56 | 5.13 | 8.38 | 5.7 | | 每股公积金(元) | 0.03 | 0.03 | 0 | 0.03 | | 每股未分配利润(元) | 4.13 | 3.65 | 13.15 | 4.16 | | 每股经营现金流(元) | - | - | - | - | | 营业收入(亿元) | 269.01 | 245.59 | 9.54 | 256.1 | | 净利润(亿元) | 63.44 | 56.27 | 12.74 | 61.98 | | 净资产收益率(%) | 21.76 | 20.72 | 5.02 | 25.52 | 三、分红送配方案情况 数据四舍五入，查看更多财务数据>> 10派8.6元(含税) 二、前10名无限售条件股东持股情况 前十大流通股东累计持有： 4488 ...

Core Viewpoint - The retail market for condiments in China is expected to reach 171.69 billion yuan in 2024, with a year-on-year growth of 4.1%, driven by diverse consumer demands, the strong recovery of the catering industry, and the formation of ecosystems related to prepared dishes [1][11]. Market Overview - Condiments are essential in enhancing the flavor, aroma, and appearance of dishes, contributing to health and appetite stimulation. They include salty, sour, sweet, umami, and spicy agents, such as salt, soy sauce, vinegar, and spices. Retail channels for condiments include supermarkets, convenience stores, and e-commerce platforms [2]. Market Policies - The Chinese condiment industry has seen stricter regulations, with various policies aimed at promoting high-quality and standardized development, including the 2023 National Standard Project Guidelines and food safety management measures [4][6]. Industry Chain - The condiment retail industry consists of three main segments: upstream (production and manufacturing), midstream (retail), and downstream (consumption market, including catering and household use) [7]. Consumption Structure - The catering market accounts for over 40% of condiment consumption, with high demand for product stability and cost-effectiveness. The household market represents approximately 34.7%, focusing on brand, quality, and variety [9]. Competitive Landscape - The condiment market in China features diverse competition across various segments. For instance, in the soy sauce market, the top five brands include Haitian, Qianhe, and Lee Kum Kee, with Haitian holding over one-third of the market share. The hot pot seasoning market is led by Yihai International, while the pickled vegetable market is dominated by Wujing [12][13]. Key Companies - Major players in the condiment retail industry include Haitian Flavor Industry, Angel Yeast, Xue Tian Salt Industry, and Yihai International. In the first half of 2024, Haitian reported a revenue of 14.16 billion yuan, leading the market, followed by Angel Yeast and Xue Tian Salt Industry with revenues of 7.18 billion yuan and 3.02 billion yuan, respectively [13][16]. Development Trends - Future trends indicate a growing consumer focus on health attributes, leading to increased demand for low-sodium, low-sugar, and organic condiments. There is also a rising interest in novel flavors and convenience products, such as recipe-based seasoning packs, catering to the fast-paced lifestyle of modern consumers [21].

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]

Investment Rating - The report maintains a "Recommendation" rating for Fuling Zhacai (002507) [1][5] Core Views - The company experienced a decline in revenue in Q4, impacting the overall annual performance, with a total revenue of 2,387 million yuan in 2024, down 2.6% year-on-year [5] - The company plans to increase its dividend payout, proposing a cash dividend of 4.20 yuan per 10 shares, resulting in a dividend yield of 2.97% [5] - The report highlights the company's strong brand position and cash flow, suggesting potential for recovery and growth if operational adjustments are effectively implemented [5] Financial Summary - **2024 Financial Performance**: - Total Revenue: 2,387 million yuan, down 2.6% YoY - Net Profit: 799 million yuan, down 3.3% YoY - Q4 Revenue: 425 million yuan, down 14.8% YoY - Q4 Net Profit: 129 million yuan, down 23.1% YoY [5][6] - **2025 Financial Projections**: - Expected Revenue: 2,478 million yuan, growth of 3.8% - Expected Net Profit: 843 million yuan, growth of 5.4% - EPS Forecast: 0.73 yuan [1][5] - **Valuation Metrics**: - P/E Ratio: 20 for 2024, decreasing to 17 by 2027 - P/B Ratio: 1.8 for 2024, decreasing to 1.6 by 2027 [1][5] Market Performance - The company's stock price as of March 28, 2025, is 13.82 yuan, with a target price set at 15.8 yuan, indicating a potential upside [2][5]

Core Viewpoint - The new regulations issued by the National Health Commission and the State Administration for Market Regulation prohibit the use of terms like "no additives" and "zero additives" in food labeling, aiming to enhance transparency and consumer rights in the food industry [1][2][3]. Group 1: Impact of New Regulations - The new regulations are expected to have a deterrent, purifying, and guiding effect on the food industry, addressing the need for industry standards and curbing misleading marketing practices [2][3]. - The regulations will force companies to clearly label specific additives, promoting transparency and aligning with international standards, which may drive improvements in production processes [2][3]. Group 2: Case Study of Qianhe Flavor Industry - The "Qianhe 0" trademark controversy highlights the potential risks of misleading branding, as the company faced scrutiny over its claims of "zero additives" after a product was found to contain trace amounts of cadmium [3][4]. - Qianhe Flavor Industry's chairman emphasized that the "Qianhe 0" trademark is intended to distinguish zero-additive products, but there are compliance risks if the branding does not accurately reflect the product's contents [4][5]. Group 3: Industry Response and Compliance - Food companies are urged to balance brand promotion with regulatory compliance, ensuring that marketing claims do not mislead consumers [5][6]. - The industry is under increasing regulatory scrutiny, with a focus on adhering to strict standards and avoiding exaggerated claims that could lead to consumer misunderstanding [5][6].