立高食品公告，第三季度营收为10.75亿元，同比增长14.82%；净利润为7707.93万元，同比增长 13.63%。前三季度营收为31.45亿元，同比增长15.73%；净利润为2.48亿元，同比增长22.03%。 ...

Core Insights - The company reported a third-quarter revenue of 727 million yuan, representing a year-on-year growth of 12.23% [1] - The net profit for the third quarter was 41.33 million yuan, showing a year-on-year increase of 30.21% [1] - For the first three quarters of 2025, the company achieved a revenue of 2.126 billion yuan, which is a year-on-year growth of 15.98% [1] - The net profit for the first three quarters reached 134 million yuan, reflecting a year-on-year increase of 32.58% [1] - The basic earnings per share stood at 0.36 yuan [1] Revenue and Profit Analysis - The growth in revenue and profit is primarily attributed to significant year-on-year increases in sales of core products such as sugar-reduced sweeteners, prebiotics, and dietary fibers [1] - The revenue contribution from core products has been continuously increasing [1] - Cost reduction and efficiency improvements have led to an enhancement in gross profit margin [1]

Core Insights - The company reported a third-quarter revenue of 1.057 billion yuan, representing a year-on-year decline of 1.89% [1] - The net profit for the third quarter was 23.3925 million yuan, down 55.21% year-on-year [1] - For the first three quarters, the company achieved a revenue of 3.195 billion yuan, which is an 8.07% decrease compared to the same period last year [1] - The net profit for the first three quarters was 124 million yuan, reflecting a year-on-year decline of 20.17% [1]

食品饮料/食品加工 chenxueli@kysec.cn 证书编号：S0790520030001 wanggaozhan@kysec.cn 证书编号：S0790525070003 华统股份（002840.SZ） 财务状况改善，持续推动成本下降 2025 年 10 月 28 日 投资评级：买入（维持） | 日期 | 2025/10/27 | | --- | --- | | 当前股价(元) | 10.92 | | 一年最高最低(元) | 14.80/10.10 | | 总市值(亿元) | 87.91 | | 流通市值(亿元) | 68.79 | | 总股本(亿股) | 8.05 | | 流通股本(亿股) | 6.30 | | 近 3 个月换手率(%) | 125.37 | 股价走势图 -20% -10% 0% 10% 20% 30% 2024-10 2025-02 2025-06 华统股份 沪深300 数据来源：聚源 相关研究报告 《财务状况改善，养殖屠宰协同发展 —公司信息更新报告》-2025.8.27 《成本稳步下降，屠宰盈利改善—公 司信息更新报告》-2025.4.30 《出栏增长成本稳降，定增落地持续 成 ...

Group 1 - The local market supervision authority in Xingcheng, Liaoning, has launched an investigation following reports of improper practices at a sauerkraut processing facility, including employees smoking and spitting near food products [1] - All batches of the affected sauerkraut have been seized and will be destroyed according to relevant operational regulations, ensuring they did not enter the market [1] - The involved enterprises are under investigation, and strict legal actions will be taken against any violations and responsible individuals [1][2] Group 2 - The authority expresses gratitude to the public for their vigilance regarding food safety and commits to rigorously investigating any actions that infringe on consumer rights [2]

Core Points - The local market supervision authority has responded to public concerns regarding improper practices in a pickled vegetable production facility, specifically smoking and spitting by workers [1] - The batch of pickled vegetables involved has been completely seized and has not entered the market, with plans for destruction according to relevant operational regulations [1] - The involved enterprise is under investigation, and legal actions will be taken against the company and responsible individuals [1]

天眼查App显示，近日，新晃梅记食光馋味食品加工坊（个体工商户）成立，法定代表人为王建梅，注 册资本10万人民币，经营范围为许可项目：餐饮服务；食品销售；食品小作坊经营。（依法须经批准的 项目，经相关部门批准后方可开展经营活动，具体经营项目以相关部门批准文件或许可证件为准）一般 项目：食品销售（仅销售预包装食品）；保健食品（预包装）销售；农副产品销售；食用农产品零售。 （除依法须经批准的项目外，凭营业执照依法自主开展经营活动）。 ...

Group 1 - The 300 Dividend Low Volatility ETF has seen a trading turnover of 1.71% with a transaction volume of 83.97 million yuan, and its latest scale reached 4.927 billion yuan [3] - The ETF has experienced continuous net inflows over the past three days, with a maximum single-day net inflow of 9.4511 million yuan, totaling 14.8514 million yuan [3] - As of October 27, 2025, the ETF's net value has increased by 61.01% over the past five years, ranking 97 out of 1025 in the index equity fund category, placing it in the top 9.46% [3] Group 2 - Analysts from CITIC Securities suggest that the fourth quarter of 2025 may be a critical time for positioning in dividend stocks to achieve excess returns due to fully reflected pessimistic expectations and the emergence of undervalued advantages [4] - The trend of increasing dividend payouts among A-share companies continues, with some industries seeing year-on-year increases exceeding 100%, indicating a shift towards greater investor returns [4] - As of September 30, 2025, the top ten weighted stocks in the CSI 300 Dividend Low Volatility Index include China Shenhua, WH Group, Gree Electric Appliances, and others, collectively accounting for 35.84% of the index [4]

2024年，盐津铺子旗下战略子品牌"大魔王"，联名百年中华老字号品牌"六必居"，创新"六必居麻酱味"魔芋素毛肚。盐津铺子相关负责人介绍，麻酱魔芋 素毛肚今年以来销量持续领跑，并成为单品销量王，跃升为现象级单品。数据显示，盐津铺子的麻酱素毛肚今年3月实现单月销售额破亿元。 新华财经北京10月28日电（记者吴丛司）记者日前在盐津铺子食品股份有限公司调研时独家获悉，为深化海外市场布局，公司投资建设的泰国生产基地将 于明年启动建设，建设周期约一年。该基地将实现在地生产与销售，成为其出海战略的关键支点。 盐津铺子2月24日宣布将在泰国建设生产基地，通过供应链布局进一步推动海外业务拓展。公告显示，盐津铺子拟在泰国设立全资子公司并投资建设泰国 生产基地，本次项目投资金额约为2.2亿元。同时盐津铺子以约106.38万元出资设立全资子公司盐津食品（泰国）有限公司作为项目的实施主体，重点打造 以魔芋、薯片等为核心产品的智能化生产基地。 "目前，泰国生产基地的用地已基本落实，预计明年启动建设，建设周期约一年，建成后将为公司营收带来新增量。"盐津铺子有关负责人表示。 上述负责人进一步表示，公司将扩大出海步伐，把海外市场作为新增长点。 ...

Investment Rating - The report maintains a "Buy" rating for the company [1] Core Insights - The company's performance shows a sequential improvement, indicating a bottoming out of its fundamentals [8] - Revenue for the first three quarters of 2025 reached 1.38 billion yuan, a year-on-year increase of 1.0%, while net profit attributable to the parent company was 50 million yuan, down 34.1% year-on-year [8] - The company is expected to continue improving in Q4 2025 and into 2026, driven by new product launches for large B clients, expansion into emerging channels, and enhanced supply chain efficiency [8] Financial Performance Summary - Total revenue forecast for 2023A is 1,901 million yuan, with a year-on-year growth of 27.69%, while 2024A is projected at 1,868 million yuan, a decline of 1.71% [1] - The net profit attributable to the parent company for 2023A is estimated at 134.27 million yuan, reflecting a year-on-year increase of 31.43%, but is expected to decline to 83.69 million yuan in 2024A, a drop of 37.67% [1] - The latest diluted EPS for 2025E is projected at 0.81 yuan, with a P/E ratio of 36.66 [1] - The gross margin for Q3 2025 was 21.2%, a decrease of 1.3 percentage points year-on-year, while the net profit margin was 3.6%, down 1.0 percentage points year-on-year but up 0.2 percentage points quarter-on-quarter [8]