处在多事之秋的绝味食品，披露了"戴帽"后的首份季报。 10月28日，ST绝味发布2025年第三季度报告，前三季度，公司实现营业收入42.60亿元，同比减少15.04%；归母净利润2.80亿元，同比减少36.07%；扣非净 利润2.41亿元，同比减少43.27%。 其中，第三季度，公司实现营业收入14.41亿元，同比减少13.98%；归母净利润1.05亿元，同比减少26.46%；扣非净利润1.07亿元，同比减少24.90%。 | 项目 | 本报告期 | 本报告期比_ 同期增减变运 | | | --- | --- | --- | --- | | | | 度(%) | | | 营业收入 | 1,440,712,246.75 | | | | 利润总额 | 159,065,409.16 | r I | | | 归属于上市公司股 | 104,895,920.42 | | | | 东的净利润 | | | | | 归属于上市公司股 东的扣除非经常性 | 107,242,092.40 | | | | 损益的净利润 | | | | | 经营活动产生的现 | 不适用 | | へ | | 金流量净额 | | | | | 基本每股收益 ...

ST绝味（维权）成立于2008年12月17日，于2017年3月17日在上海证券交易所上市，注册地址和办公地址 均位于湖南省长沙市。它是国内休闲卤制食品行业的领军企业，凭借独特的口味和广泛的销售网络，在市 场上占据重要地位。 公司主要从事休闲卤制食品的研发、生产和销售，所属申万行业为食品饮料 - 休闲食品 - 熟食，涉及休闲 食品、新零售、预制菜核聚变、超导概念、核电等概念板块。 经营业绩：营收行业第一，净利润第一 2025年三季度，ST绝味营业收入达42.6亿元，在行业3家企业中排名第1，远高于第二名紫燕食品的25.14亿 元，行业平均数为27.18亿元，中位数为25.14亿元。主营业务构成中，卤制食品销售23.4亿元，占比 83.00%；供应链物流2.63亿元，占比9.33%；集采业务1.16亿元，占比4.10%；其他7358.48万元，占比 2.61%；加盟商管理2712.49万元，占比0.96%。当期净利润为2.67亿元，同样位居行业第1，第二名紫燕食 品为1.99亿元，行业平均数为1.9亿元，中位数为1.99亿元。 资产负债率低于同业平均，毛利率高于同业平均 偿债能力方面，2025年三季度ST绝味资产 ...

线下生意，越来越难做了。 今年，可谓是绝味食品的多事之秋。 今年年初，绝味鸭脖门店员工被发现违法使用伪造健康证明，被立案调查。 最近，绝味又被湖南省证监局发现，信息披露违法违规。 至于虚减的营收到底流向何方，又有何目的，我们不得而知。 9月22日绝味食品停牌，9月23日，绝味食品被实施风险警示，A股简称变更为"ST绝味"。 此后，绝味食品股价接连大跌，几次跌停。 作为曾经的"鸭脖茅"，疫情期间，绝味食品的股价曾在一年内飙涨3倍，市值达到650亿元。 但此后，绝味食品股价连续下跌，累计暴跌近90%，多次创下历史新低。 01 9月19日晚，复旦复华、思科瑞、绝味食品和创意信息4家上市公司均发布公告，因财务造假同日戴帽。 在这个卤味贵到越来越吃不起的时代，卤味龙头们，却混不下去了。 而这，也并不只是卤味行业的困境。 其中，绝味食品格外引人注目。 其他公司基本都是因为虚增利润而财务造假，而绝味食品却是虚减营收。 2017年至2021年期间，绝味食品未确认加盟门店装修业务收入，导致年度报告少计营业收入，占对应年度公 开披露营业收入的比例分别为5.48%、3.79%、2.20%、2.39%、1.64%。 这五年间，绝味食 ...

作者 | 远禾 数据支持 | 勾股大数 据（www.gogudata.com） 线下生意，越来越难做了。 今年，可谓是绝味食品的多事之秋。 今年年初，绝味鸭脖门店员工被发现违法使用伪造健康证明，被立案调查。 最近，绝味又被湖南省证监局发现， 信息披露违法违规 。 9 月 22 日 绝味食品 停牌， 9 月 23 日 ，绝味食品 被实施风险警示， A 股简称变更为" ST 绝 味"。 此后，绝味食品股价接连大跌，几次跌停。 作为曾经的 "鸭脖茅"， 疫情期间，绝味食品的股价曾在一年内飙涨 3 倍，市值达到 650 亿元。 但此后，绝味食品股价连续下跌，累计暴跌近 90% ，多次创下历史新低。 在这个卤味贵到越来越吃不起的时代，卤味龙头们，却混不下去了。 而这，也并不只是卤味行业的困境。 01 9 月 19 日晚，复旦复华、思科瑞、绝味食品和创意信息 4 家上市公司均发布公告，因财务造假同 日戴帽。 其中，绝味食品格外引人注目。 其他公司基本都是因为虚增利润而财务造假，而绝味食品却是虚减营收。 2017 年至 2021 年期间，绝味食品未确认加盟门店装修业务收入，导致年度报告少计营业收入，占 对应年度公开披露营业 ...

Core Viewpoint - The company, Juewei Foods, faces a critical juncture regarding its brand survival rather than merely boosting performance, following severe penalties for information disclosure violations [1] Regulatory Issues - On September 19, Juewei Foods announced it received an administrative penalty notice from Hunan Securities Regulatory Bureau, resulting in a total fine of 8.5 million yuan for information disclosure violations [3] - Following the announcement, the company's stock was suspended for one day and resumed trading with a risk warning, leading to two consecutive days of trading halts [7] - The penalties include a warning and fines of 4 million yuan for the company, 2 million yuan for the former chairman, and additional fines for other executives [9] Financial Misconduct - Juewei Foods has been found to have concealed revenue from franchise store renovation services over five years, amounting to a total of 724 million yuan, which significantly impacted its reported earnings [8] - The company failed to properly manage and account for these revenues, leading to a series of violations of the Securities Law [8][9] Impact on Business Operations - The company has experienced a significant decline in its operational metrics, with a reported revenue drop of 15.57% in the first half of the year, totaling 2.82 billion yuan [16] - The core business of Juewei Foods, which accounts for 84.88% of its revenue, has also seen a decline, with sales dropping by 16.67% [16] - The number of stores has decreased sharply, with over 4,200 closures reported, indicating a significant contraction in its market presence [13][15] Market Position and Competitors - Despite being a leader in the Chinese snack food market, Juewei Foods has struggled to maintain its growth trajectory, with its stock price reflecting investor concerns [20] - Competitors like Zhou Hei Ya and Huang Shang Huang have managed to increase profits through strategic adjustments, contrasting with Juewei's reliance on a franchise model that has shown vulnerabilities [18][19]

中国证监会湖南监管局认为，绝味食品上述行为涉嫌违反《证券法》等相关法律规定。为此，决定对绝味食品责令改正，给予警告，并处以400万元罚款。 此外，还对该公司时任董事长兼总经理戴文军、时任财务总监彭才刚、时任董事会秘书彭刚毅三人给予警告，并处以共计450万元的罚款。 目前， ST绝味业绩下滑幅度较大。今年上半年，该公司营业收入约28.2亿元，同比减少15.57%；归母净利润约1.75亿元，同比减少40.71%。报告称，公司 上半年营收下降主要系报告期内销量下降。 登录新浪财经APP 搜索【信披】查看更多考评等级 继昨日复牌"一字跌停"后，9月24日， ST绝味(603517.SH)再次跌停，报13.77元/股，市值为83.45亿元。 该公司于9月22日停牌，9月23日被实施风险警示，A股简称变更为"ST绝味"。实施风险警示后，该股票将在风险警示板交易，股票价格的日涨跌幅限制为 5%。 ST绝味9月20日公告称，因涉嫌信息披露违法违规，去年6月7日， 中国证监会决定对绝味食品立案。今年9月19日，公司收到中国证监会湖南监管局下发的 《行政处罚事先告知书》(《告知书》)。 《告知书》显示，2017年至2021年期间 ...

每经头条（nbdtoutiao）——5万亿ETF的370名基金经理薪酬大揭秘！他们的日常工作，就是跟着指数 买股票吗？ （记者 曾健辉） 每经AI快讯，紫燕食品（SH 603057，收盘价：20.72元）9月19日晚间发布公告称，公司限售股份约 3.44亿股将于2025年9月26日解禁并上市流通，占公司总股本比例为83.17%。 2024年1至12月份，紫燕食品的营业收入构成为：卤制食品销售占比93.14%，其他占比3.33%，加盟商 管理占比2.02%，其他业务占比1.5%。 截至发稿，紫燕食品市值为86亿元。 ...

每经头条（nbdtoutiao）——申请超2万份，已开出41家，加盟海底捞，你要准备多少钱？1000万元不算 多，真实"账单"公布 （记者 张喜威） 2024年1至12月份，绝味食品的营业收入构成为：卤制食品销售占比83.49%，供应链物流占比7.82%， 集采业务占比5.1%，其他业务占比2.25%，加盟商管理占比0.98%。 每经AI快讯，绝味食品（SH 603517，收盘价：16.33元）8月29日发布公告称，公司第六届第四次董事 会会议于2025年8月27日在公司会议室以现场结合通讯表决方式召开。会议审议了《关于<2025年度"提 质增效重回报"专项行动方案的半年度评估报告>的议案》等文件。 ...

Group 1 - The core point of the news is that Juewei Foods announced the resignation of its Chief Financial Officer, Wang Zhihua, due to personal reasons, and he will not hold any position in the company or its subsidiaries after his resignation [1] - For the fiscal year 2024, Juewei Foods' revenue composition is as follows: 83.49% from marinated food sales, 7.82% from supply chain logistics, 5.1% from centralized procurement, 2.25% from other businesses, and 0.98% from franchise management [1] - As of the report date, Juewei Foods has a market capitalization of 9.4 billion [1] Group 2 - Related companies have also made changes in their financial management, with Liao Hongsen appointed as CFO of Tongfu Microelectronics, Liu Peiyuan as CFO of Yanjiang Co., and Zhong Xiaolei as Vice General Manager and CFO of Feima International [2]

Core Viewpoint - The article highlights the declining performance of Juewei Foods and the broader challenges facing the marinated food industry, indicating a significant downturn in both revenue and profit for major players in the sector [1][4][8]. Group 1: Company Performance - Juewei Foods' market value peaked at 600 billion RMB in 2021, with rapid expansion from 9,053 stores in 2017 to 12,399 stores in 2020, and revenue growth from 3.85 billion RMB to 5.276 billion RMB during the same period [3]. - In 2024, Juewei Foods reported a revenue of 6.257 billion RMB, a year-on-year decline of 13.84%, and a net profit of 227 million RMB, down 34.04% [4][5]. - The first quarter of 2025 continued the downward trend, with revenue of 1.501 billion RMB, a decrease of 11.47%, and a net profit of 120 million RMB, down 27.29% [4]. Group 2: Industry Challenges - The marinated food industry is experiencing a collective downturn, with Juewei Foods, Zhou Hei Ya, and Huang Shang Huang all reporting declines in revenue and profit [9][10]. - Zhou Hei Ya's revenue in 2024 was 2.451 billion RMB, down 10.66%, while Huang Shang Huang reported 1.739 billion RMB, a decline of 9.44% [9]. - The industry faces challenges such as the expiration of growth dividends, with a net closure of approximately 23,000 stores nationwide in the past year, indicating a contraction in the market [10]. Group 3: Price and Cost Dynamics - The marinated food sector is grappling with significant fluctuations in raw material prices, particularly for duck products, which constitute over 50% of Juewei Foods' procurement costs [10][11]. - Prices for duck necks surged from 12 RMB/kg to 27 RMB/kg between 2021 and 2023, a rise of over 125%, before falling to 10 RMB/kg in late 2023, a decrease of 63% [11]. - Despite the drop in raw material costs, Juewei Foods has been slow to adjust its prices, leading to reduced consumer demand and continued profit decline [11]. Group 4: Business Model and Strategy - Juewei Foods relies heavily on franchisees, with over 90% of its stores being franchises, which has previously driven rapid growth [12]. - However, due to declining demand, the company has shifted its strategy from aggressive expansion to focusing on enhancing single-store revenue and supporting franchisee survival [12][13]. - The average single-store revenue in the first half of 2024 was 169,000 RMB, reflecting an 11% year-on-year decline [13]. Group 5: Investment and Future Outlook - Juewei Foods has historically invested in various food-related companies, but recent investments have resulted in losses, with a reported investment loss of 160 million RMB in 2024 [14]. - Cumulative investment losses over the past three years exceed 370 million RMB, indicating challenges in both operational and investment growth avenues [14]. - The company is currently facing a "dead end," with both core business and investment strategies proving ineffective in driving performance improvement [14].