"潮食会"A馆。李佳滢/摄 7月17日上午，以"美食之都 新质潮食"为主题的第三届广东（潮州）特色食品产业大会（简称"潮食 会"）在潮州市潮安区东山湖园区潮安支柱产业孵化基地启幕。 "潮食会"现场航拍图。孙安迪/摄 本届潮食会将持续至19日，展馆综合建筑面积8万㎡，展品涵盖糖果、蜜饯、饼干、速食、饮料、预制 菜及包装印刷、机械制造等食品产业链全品类超2万款产品。大会吸引了超1000家企业参展，实现了食 品—包装—机械设备等全产业链的全覆盖，彰显潮州潮安区食品全产业链发展硬实力。值得一提的是， 在第三届"潮食会"的企业参展中，潮州市外企业占比近30%，覆盖粤闽及全国多地知名品牌。 广东轻上生物科技有限公司凭借100%椰子水等产品，深受年轻人喜爱。该公司线下营销总监李有勋告 诉记者："作为食饮界的年轻品牌，轻上需要潮食会、信任潮食会，参与潮食会，通过参会拓展销售渠 道、寻找优质供应商、探索新合作模式。 园区航拍。孙安迪/摄 潮州潮安食品产业发展历史悠久，凭借起步早、基础实、特色显的优势，培育了1500多家食品工业企 业，产品涵盖糖果、凉果、蜜饯、炒货等15大类、2000多个品种，香飘全球30多个国家和地区。全区拥 ...

Core Viewpoint - The key issue is the resolution of the control rights of Wahaha Group amidst a family inheritance dispute following the death of its founder, Zong Qinghou [1][10]. Group 1: Inheritance Dispute - Zong Qinghou's daughter, Zong Fuli, is being sued by three alleged half-siblings for control over assets and a $2.1 billion trust promised by their father [5][19]. - The three claimants are Zong Jichang, Zong Jieli, and Zong Jisheng, with allegations that their mother is a former senior employee of Wahaha [6][10]. - The inheritance battle has revealed complexities in Zong Qinghou's family structure, including non-marital children and potential asset mismanagement [4][9]. Group 2: Trust and Asset Management - Zong Qinghou established three independent trusts at HSBC, each worth $700 million, for his overseas children, which complicates the inheritance claims [17][35]. - As of May, the HSBC account reportedly holds $1.8 billion, down from the promised $2.1 billion, raising concerns about asset management by Zong Fuli [19][35]. - Legal disputes are centered around the validity of Zong Qinghou's wills and the management rights of the trusts, with potential implications for Wahaha's corporate governance [33][36]. Group 3: Corporate Governance and Future Outlook - The ongoing disputes have led to operational challenges for Wahaha, including factory shutdowns and management restructuring [10][28]. - Zong Fuli's leadership is questioned, with reports suggesting her father had reservations about her management capabilities [28][39]. - The resolution of these disputes is critical for Wahaha's stability and future, as unresolved control issues may deter business operations and investor confidence [36][39].

Core Insights - The capacity utilization rate of the automotive manufacturing industry in the second quarter of 2025 is reported at 71.3% [1] - Other industries have varying capacity utilization rates, with the highest being in the black metal smelting and rolling processing industry at 80.8% [1] - The lowest capacity utilization is observed in the non-metal mineral products industry at 62.3% [1] Industry Summaries - Coal mining and washing industry: 69.3% capacity utilization [1] - Food manufacturing industry: 69.1% capacity utilization [1] - Textile industry: 77.8% capacity utilization [1] - Chemical raw materials and chemical products manufacturing: 71.9% capacity utilization [1] - General equipment manufacturing: 78.3% capacity utilization [1] - Specialized equipment manufacturing: 76.5% capacity utilization [1] - Electrical machinery and equipment manufacturing: 73.5% capacity utilization [1] - Computer, communication, and other electronic equipment manufacturing: 77.3% capacity utilization [1] - Non-ferrous metal smelting and rolling processing: 77.7% capacity utilization [1]

Group 1 - The industrial capacity utilization rate for Q2 2025 is reported at 74.0%, showing a decrease of 0.9 percentage points compared to the same period last year [4] - The mining industry capacity utilization rate stands at 72.7%, down by 3.3 percentage points year-on-year [4] - The manufacturing sector's capacity utilization rate is 74.3%, reflecting a decline of 0.9 percentage points from the previous year [4] Group 2 - The electricity, heat, gas, and water production and supply industry has a capacity utilization rate of 71.5%, which is an increase of 0.1 percentage points compared to last year [4] - In the coal mining and washing industry, the capacity utilization rate is 69.3%, down by 3.5 percentage points year-on-year [4] - The petroleum and natural gas extraction industry shows a high capacity utilization rate of 90.9%, with a slight decrease of 0.9 percentage points from the previous year [4] Group 3 - The food manufacturing industry has a capacity utilization rate of 69.1%, which is an increase of 0.3 percentage points compared to last year [4] - The textile industry reports a capacity utilization rate of 77.8%, down by 1.3 percentage points year-on-year [4] - The chemical raw materials and chemical products manufacturing industry has a capacity utilization rate of 71.9%, reflecting a decrease of 4.5 percentage points from the previous year [4] Group 4 - The black metal smelting and rolling processing industry has a capacity utilization rate of 80.8%, which is an increase of 1.1 percentage points compared to last year [4] - The non-metallic mineral products industry shows a capacity utilization rate of 62.3%, down by 1.9 percentage points year-on-year [4] - The automotive manufacturing industry reports a capacity utilization rate of 71.3%, reflecting a decrease of 1.7 percentage points from the previous year [4] Group 5 - The electrical machinery and equipment manufacturing industry has a capacity utilization rate of 73.5%, down by 1.2 percentage points compared to last year [5] - The computer, communication, and other electronic equipment manufacturing industry shows a capacity utilization rate of 77.3%, which is an increase of 1.1 percentage points year-on-year [5] - The overall survey covers approximately 110,000 industrial enterprises, including both large and medium-sized enterprises [6]

Group 1: Shanda Electric Power (山大电力) - Shanda Electric Power is an indirect holding enterprise of Shandong University, focusing on the research, manufacturing, sales, and service of smart grid monitoring and new energy products [1][3] - The company has a market capitalization of 17.91 billion yuan and an issuance price of 14.66 yuan per share, with an issuance P/E ratio of 19.57 [2] - The revenue structure is stable, with the smart grid monitoring sector contributing 87.94% of the total revenue in 2024, while the new energy sector accounts for 12.06% [4] - The company has established long-term partnerships with major clients such as State Grid and Southern Power Grid, enhancing its competitive edge in the smart grid monitoring and new energy sectors [3][4] - The company plans to invest 1.35 billion yuan in smart grid fault analysis and distribution network intelligence projects, and 1.80 billion yuan in R&D center projects [2][3] Group 2: Jiyuan Group (技源集团) - Jiyuan Group specializes in the research and industrialization of dietary nutritional supplements, with a focus on products like HMB and glucosamine [5][10] - The company has a market capitalization of 38.08 billion yuan and an issuance price of 11.09 yuan per share, with an institutional offering price of 10.88 yuan [6] - Jiyuan Group is the largest global supplier of HMB raw materials and has established partnerships with major companies such as Abbott and Nestlé [10][11] - The revenue from nutritional raw materials is projected to be 5.71 billion yuan in 2022, increasing to 6.47 billion yuan by 2024, maintaining a revenue share of over 60% [10][11] - The company plans to invest 2.06 billion yuan in the construction of a nutritional health raw material production base and 1.47 billion yuan in the expansion of its production line [9][10]

路演嘉宾合影 技源集团：深耕全球膳食营养补充行业 用营养的力量提升全人类健康水平 ——技源集团股份有限公司首次公开发行股票并在主板上市网上投资者交流会精彩回放 出席嘉宾 技源集团股份有限公司董事长 周京石先生 技源集团股份有限公司董事、董事会秘书、财务总监 汪 燕女士 东方证券股份有限公司产业投行总部董事总经理 苗 健先生 东方证券股份有限公司产业投行总部董事、保荐代表人 王国胜先生 经营篇 问：公司的主营业务是什么？ 王国胜：截至最新招股说明书签署日，公司共拥有18项计算机软件著作权。 周京石：公司是一家专业从事膳食营养补充产品研发创新及产业化的国际化企业集团，公司坚持以科学 研究和临床试验为基础，不断为全球膳食营养补充行业提供原创性和定制化的营养原料及制剂产品。 问：公司有多少控股子公司、参股公司？ 王国胜：截至最新招股说明书签署日，公司拥有16家控股子公司、3家参股公司及5家分支机构。 问：请介绍公司境外子公司的情况。 汪燕：公司注册于江苏江阴，管理总部位于上海，在中国和美国均设有研发中心，在中国香港设立了海 外业务中心，并在美国、澳大利亚、英国、日本、挪威等地设立了区域销售总部，同时，在江阴、徐 州、 ...

Core Viewpoint - The stock of Guotou Zhonglu Juice Co., Ltd. has experienced significant fluctuations, with a cumulative increase of 61.13% over five consecutive trading days, which is notably higher than the Shanghai Composite Index during the same period [1][2]. Group 1: Stock Performance - The company's stock reached a trading halt for five consecutive days from July 7 to July 11, 2025, resulting in a total increase of 61.13% [1][2]. - The stock price volatility is highlighted, and investors are cautioned about the risks associated with trading in the secondary market [1][2]. Group 2: Financial Performance - For the fiscal year 2024, the company reported a net profit attributable to shareholders of 29.2537 million yuan, representing a year-on-year decline of 49.75% compared to 2023 [2]. Group 3: Asset Restructuring - The company is in the process of planning a major asset restructuring involving the acquisition of 100% of China Electronic Engineering Design Institute Co., Ltd. through share issuance to specific investors [3]. - The audit, evaluation, and due diligence for the target assets are still ongoing, leading to uncertainties regarding the approval and implementation of the transaction [3]. Group 4: Information Disclosure - The company emphasizes that all information should be verified through designated media, including China Securities Journal and Shanghai Securities Journal, as well as the Shanghai Stock Exchange website [3].

美国食品制造公司WK Kellogg上涨30.5%，此前意大利费列罗宣布以每股23美元的价格收购该公司。 ...

费列罗将以每股23美元的现金收购美国食品制造公司WK Kellogg，WK Kellogg盘前上涨29%。 ...

债券研究 证 券 研 究 报 告 【债券日报】 金价&油价，如何影响通胀？ ——6 月通胀数据解读 拆解核心 CPI 的构成，得出服务占比稳定在 55%，核心消费品占比为 45%， 黄金占比为 0.55%，结合各分项价格变动可推算出 2025 年上半年核心 CPI 环 比累计上涨 0.5%，其中黄金拉动 0.13%，服务拉动 0.17%，剔除黄金的其他核 心消费品拉动 0.2%，体现出今年促消费政策对服务和核心消费品的需求拉动 作用，黄金助涨了核心 CPI 但并非主要因素。需要注意的是剔除黄金后的核 心消费品环比二季度弱于一季度，关注新一轮消费刺激政策可能再次出台。 问题二：6 月油价大幅上涨，为何 PPI 同比反而下行？ 6 月 PPI 环比继续保持-0.4%的降幅，原油价格上涨 9%约拉动 PPI 0.3 个百分 点，但国内生产淡季和"抢出口"效应的弱化抵消了这一作用。 （1）国内生产淡季：根据统计局通稿，黑色金属冶炼和压延加工业、非金属 矿物制品业、煤炭相关行业和电力热力生产和供应业共影响 PPI 环比下降约 0.33 个百分点，与油价的拉动作用基本抵消。 （2）"抢出口"效应弱化后，部分出口行业价格继 ...