证券之星价投圈财报分析工具显示： 业务评价：公司去年的ROIC为11.66%，近年资本回报率一般。公司业绩具有周期性。去年的净利率为 7.54%，算上全部成本后，公司产品或服务的附加值一般。从历史年报数据统计来看，公司近10年来中 位数ROIC为6.68%，中位投资回报较弱，其中最惨年份2019年的ROIC为-87.8%，投资回报极差。公司 历史上的财报非常一般，公司上市来已有年报26份，亏损年份6次，如无借壳上市等因素，价投一般不 看这类公司。 偿债能力：公司现金资产非常健康。 据证券之星公开数据整理，近期莲花控股（600186）发布2025年中报。截至本报告期末，公司营业总收 入16.21亿元，同比上升32.68%，归母净利润1.61亿元，同比上升60.01%。按单季度数据看，第二季度 营业总收入8.27亿元，同比上升28.13%，第二季度归母净利润6034.72万元，同比上升16.92%。本报告 期莲花控股盈利能力上升，毛利率同比增幅20.93%，净利率同比增幅19.95%。 本次财报公布的各项数据指标表现尚佳。其中，毛利率28.19%，同比增20.93%，净利率10.06%，同比 增19.95%，销售 ...

深圳商报·读创客户端 夏显平 在海南五指山苍翠雨林深处，一座龟形建筑正悄然崛起。这是百岁山投资4亿元打造的新生产基地，也是其布局东南亚市场的关键落子，更是百岁山"龟式哲 学"的又一次实践：稳健每一步，始终朝着一个方向。 "矿泉水这行，说到底就是'水源的战争'。真正的好水，需要时间，更需要坚守。"景田集团董事长，也是百岁山创始人，被媒体誉为"中国包装水之父"周敬 良近日在接受专访时坦言。在他看来，企业如龟，稳行致远，"找准方向，沉得下去，才能活得长久。" 从惠州罗浮山到意大利加尔达湖，再到海南五指山，百岁山二十年来的每一步布局，都围绕着一处优质天然矿泉水水源。如龟一般稳扎稳打的坚持，让百岁 山连续十六年稳居中国天然矿泉水销量榜首，并成为全球该品类单一品牌销量冠军。 布局海南五指山剑指东南亚市场 "当下全球天然矿泉水市场每年都在增长，我们必须抓住这个机会，提前布局，确保有稳定的优质水源来满足市场需求。"周敬良说道。 Wise Guy Reports 发布的《全球饮用瓶装水天然矿泉水市场研究报告》显示，预计从2024年到2032年，全球饮用瓶装天然矿泉水市场将以4.6%的复合年增长 率增长，到2032年市场规模将达 ...

Group 1 - The core viewpoint of the news is that Rongsheng Fund has conducted research on Lianhua Holdings, focusing on its product development and market expansion strategies in the health beverage sector [1] - Lianhua Holdings has launched new products such as natural mineral water and red date longan goji water, adhering to the "green, natural, and low" product development philosophy [1] - The sales of Lianhua's new products, including red bean coix seed water and red date longan goji water, have shown good growth since their launch in April 2025, with plans to introduce electrolyte drinks and 100% fruit and vegetable juice in the second half of the year [1] Group 2 - Lianhua's Zixing Intelligent Body Integrated Machine and platform project have been successfully included in the Zhejiang Province long-term national debt project library, promoting brand building and business ecosystem [1] - The company is enhancing its platform construction and expanding its customer resources in finance, healthcare, and education sectors through the launch of the Zixing Ke PP [1] Group 3 - Shandong Rongsheng Private Fund Management Co., Ltd. was established in 2013 and became the first securities-type sunshine private fund company in Weihai region in 2015 [2] - The company has a professional and standardized investment research, risk control, trading, and operation team, with a mature investment philosophy covering stocks, bonds, commodities, and financial derivatives [2] - Since its establishment, Rongsheng Fund has achieved good returns on its self-managed funds, with multiple fund products issued that have outperformed the market index [2]

本报记者矫月见习记者梁傲男 广东省食品安全保障促进会副会长朱丹蓬在接受记者采访时表示，矿泉水行业的竞争本质是水源地的争 夺。企业拥有优质水源地意味着拥有了稳定的原料供应和独特的产品优势，这不仅能够降低生产成本， 提高产品质量，还能为企业打造品牌形象、提升市场竞争力提供有力支撑。各大矿泉水生产企业纷纷将 目光投向那些具有独特地质条件、生态环境优良的水源地，投入大量的人力、物力和财力进行勘探、开 发和保护，以期在这场水源地争夺中脱颖而出。 据记者了解，2024年，泉阳泉从战略上布局启动了"泉阳核心水源增能40万吨""扩建40万吨产能并在 2025年内先行投产20万吨""储备第二战略水源200万吨"等重要的增产扩能事项，其中水源增能事项已全 部完成，产能扩建事项正在推进，预计20万吨新增产能将于今年上半年投产。 2025年一季度，泉阳泉规划变更使用部分募集资金，启动建设一处建筑面积16000余平方米的生产性用 房，从而提升核心厂区的生产配套空间，并为后续建设20万吨产能准备设备安装空间。 泉阳泉方面表示，未来若干年，公司矿泉水主业将从过去以"扩大销售、发挥产能"为主的阶段，转 入"连续增产、满足销售增长""产销协同 ...

目前，泉阳泉是以矿泉水为核心业务，延伸布局园林绿化、木门家居、特色食品及林业碳汇等领域，旗 下拥有吉林森工集团泉阳泉饮品有限公司、苏州工业园区园林绿化工程有限公司等11家专业子公司，辐 射吉林、江苏、北京等地。 泉阳泉（600189）5月19日召开2025年第一季度业绩说明会，公司董事长、董事会秘书(代行)姜长龙， 董事兼总经理王尽晖，财务总监白刚等针对2025年第一季度的经营成果及财务指标的具体情况与投资者 进行互动交流和沟通。 谈及公司在市值管理方面的计划时，泉阳泉表示，中国证监会2024年11月颁布了《上市公司监管指引第 10号——市值管理》，其中对上市公司市值管理提出了专业性的指导和要求，2024年12月国务院国资委 颁布了《关于改进和加强中央企业控股上市公司市值管理工作的若干意见》，公司作为国有控股上市公 司，将根据企业实际情况，积极推进公司的市值维护相关工作。 泉阳泉是吉林长白山（603099）森工集团旗下森林绿色健康产业的龙头企业。2016年起，面对国家天然 林禁伐政策，泉阳泉以资本市场为依托，通过两次重大资产重组，剥离森林采伐及人造板业务，实 现"腾笼换鸟"；同步引入矿泉水和园林绿化两大核心业 ...

Core Insights - The article discusses the evolving consumer demand in the food and beverage industry, emphasizing the importance of emotional value and the shift towards "wild consumption" as a response to changing consumer preferences [2][3][23]. Group 1: Industry Trends - The food and beverage industry is facing challenges such as declining consumer confidence and falling sales in offline formats, yet certain segments like healthy snacks are experiencing growth [3][5]. - Health trends are prominent, with non-fried snack categories like rice cakes gaining popularity, while traditional puffed snacks decline [3][5]. - The beverage sector is also shifting towards health and functionality, with significant growth in high-end health products and functional drinks like electrolyte water [5][9]. Group 2: Supply Chain Importance - The competition in the food and beverage sector is increasingly centered around supply chain efficiency rather than just product innovation [7][9]. - Companies like Mixue Ice City demonstrate the critical role of a robust global supply chain in achieving cost-effective, high-quality products [7][9]. - The future of competition will focus on "technology + green" as key drivers for supply chain upgrades, emphasizing the need for brands to transition from marketing-driven to supply chain-driven models [9]. Group 3: New Retail Trends - Discount retail channels are emerging as a new growth engine in the food and beverage industry, particularly in lower-tier cities where consumers seek high-quality products at lower prices [11][13]. - The penetration rate of discount retail in China is only 3.8%, indicating significant growth potential compared to the global average of 12.6% [13]. - Young consumers are reshaping retail logic with their desire for high cost-performance products, leading to a shift in how brands approach consumer engagement [11][13]. Group 4: Brand Innovation and Strategy - Brands like Lebai and Shenghetang are focusing on health-oriented innovations, such as using rare sugars in their products to meet consumer demand for healthier options [15][19]. - The concept of "long-termism" is emphasized, where brands aim for sustainable growth through continuous innovation rather than short-term trends [15][19]. - Companies are encouraged to leverage cultural elements and traditional products to enhance their global competitiveness, as seen with Shenghetang's focus on traditional Chinese herbal products [19][21]. Group 5: Consumer Engagement and Emotional Value - Brands are urged to shift from traditional competition based on product features to creating emotional value for consumers [23][27]. - The focus on emotional engagement is seen as essential for brands to differentiate themselves in a crowded market, with successful examples highlighting the importance of understanding consumer needs [23][27]. - The discussion emphasizes that the future of competition will revolve around brands that can effectively connect with consumers on an emotional level [23][27].