"好人家"火锅底料的母公司天味食品（603317.SH）募投项目又延期了。 近日，天味食品发布公告表示，公司决定调整2020年非公开募集资金投资项目"营销服务网络及数字化 升级建设项目""双流生产基地综合技改建设项目""家园生产基地综合技改建设项目"的实施进度，将该 项目达到预定可使用状态日期从2025年12月调整为2027年12月。 南都湾财社记者注意到，这并非天味食品首次延期相关募投项目。据南都湾财社记者不完全统计，天味 食品自上市以来发布延期公告不少于5次，包括IPO项目、非公开募投项目均有延期的情形。 其中，"食品、调味品产业化生产基地扩建项目"从原本计划的2022年11月份达到预定可使用状态，延期 至2024年12月，后再次延期至2027年12月；该项目推进了多年，截至2025年11月30日，项目进度仍不足 70%。 对于募投项目决策连续性与严肃性、项目论证与调研充分性等问题，南都湾财社记者联系天味食品并发 函，截至发稿暂未获得回应。 广东省食品安全保障促进会副会长、食品产业分析师朱丹蓬对南都湾财社记者表示，募投项目反复延期 在调味品行业并不常见，天味食品项目延期、终止等或源于战略摇摆，规划上也可能 ...

Core Viewpoint - The article emphasizes the importance of strengthening the collaborative development of the Chengdu-Chongqing region to establish a strategic high ground for opening up to the west and participating in international competition, aiming to become a significant growth pole for high-quality development in the western region [1][2]. Group 1: Development of the Chengdu-Chongqing Region - The Chengdu International Railway Port recently celebrated the launch of the 120,000th China-Europe Railway Express, marking a significant milestone in international cooperation [2]. - The region has seen a substantial increase in foreign direct investment, maintaining the highest level in central and western China, and has established a comprehensive transportation network [3][11]. - The "Four Directions and Eight Corridors" strategic transportation corridors have been largely completed, enhancing the region's connectivity and trade capabilities [3][11]. Group 2: China-Europe Railway Express - The China-Europe Railway Express (Chengdu) has become the most frequently operated and stable service, facilitating trade with Europe and Africa [4][5]. - The railway service allows for efficient distribution of goods across multiple countries, benefiting small and medium-sized enterprises through a "shared transport" model [7]. - The railway has enabled companies like TCL to establish efficient international supply chains, significantly increasing their production and export values [8][9]. Group 3: Open Economy and Trade Expansion - Sichuan has been actively expanding its international trade, with exports surpassing 500 billion yuan for the first time in 2024, achieving record highs in foreign trade contributions [12]. - The province has developed a robust international logistics network, connecting 162 cities domestically and internationally, enhancing its role as a trade hub [5][11]. - Sichuan's open economy strategy has attracted significant foreign investment, with numerous international projects being established in the region [11][12]. Group 4: Innovation and Future Prospects - Recent innovations in logistics, such as the integration of low-altitude logistics with the China-Europe Railway Express, highlight Sichuan's commitment to high-quality development [10]. - The province aims to deepen its integration into the global economy, enhancing its competitive edge in international markets [11][13]. - Sichuan is positioned to become a central hub for the distribution of diverse products, reflecting its growing role in global supply chains [13].

来源丨凤凰网财经《 IPO观察哨》 冬天吃热气腾腾的火锅，少不了火锅底料来提升风味。 在四川天味食品集团的产品序列中， "好人家"和"大红袍"两大品牌几乎成为川味火锅底料的 代名词。 这家总部位于四川成都的企业，主营火锅调料、菜谱式调料、香肠腊肉调料等，旗下拥有六大 品牌，卖火锅调料年入 34亿 。 邓文、唐璐夫妇 借此 以 115亿元财富登上2025年胡润全球 富豪榜。6年前邓文把天味食品送上A股，如今又助推公司闯港股，计划实现"A+H"两地上 市。 然而，这家公司的基本面却亮起红灯：营收增速放缓、净利润下滑、消费者口碑下降等问题正 考验着这家火锅底料龙头企业的未来。 01 火锅底 料 也 塌房？消费者投诉频发 随着天味食品市场规模扩大，消费者对其产品的投诉也与日俱增。 在 12315消费者投诉信息 平台上，不少消费者反映购买的天味食品火锅底料、蘸料后存在食 品安全问题。 有消费者 也在 社交平台上发文称，冲着全网好评买了 "好人家"的蒜蓉小龙虾调料，结果"翻 车翻到外太空" ， 期待的蒜香扑鼻没有出现，反而是一股腻到发慌的奶香味直冲天灵盖。更 严重的是，按说明书烹制的小海鲜齁咸无比，即使加水调整也难以入口 ...

Core Insights - The China-Europe Railway Express has officially surpassed 120,000 trips, marking a significant milestone in cross-border trade and logistics [1][3]. Group 1: Operational Milestones - The latest train, carrying 55 containers, departed from Chengdu International Railway Port, loaded with "Sichuan-made" products and cross-border e-commerce goods [1][3]. - Since its inception in 2013, the Chengdu International Railway Express has seen exponential growth, with annual trips increasing from 31 in 2013 to over 5,000 in 2024, and a cumulative total of over 36,000 trips [3]. Group 2: Product Focus - The current train's cargo includes notable Sichuan specialties such as "Akwan Red Oil Noodles" and "Hao Ren Jia Hot Pot Base," highlighting the region's culinary offerings [4]. - The train also carries nearly 1.1 million yuan worth of products from the Pinduoduo cross-border e-commerce platform, including toys and hardware, aimed at the European consumer market [6]. Group 3: Market Expansion and Efficiency - The new route to Antwerp enhances the efficiency of logistics for companies like Sichuan Silk Road Supply Chain Management, facilitating faster access to the African market [6]. - The China-Europe Railway Express provides a logistics solution that combines time efficiency and cost-effectiveness, supporting cross-border e-commerce businesses and promoting high-quality foreign trade development in the western region [6].

Core Viewpoint - Tianwei Foods is experiencing significant growth, with record revenues and profits in 2024, and is planning to go public in Hong Kong to further its international expansion strategy [2][6][7] Group 1: Company Background - Tianwei Foods, known for its "Hao Ren Jia" hot pot base and "Da Hong Pao" seasoning, was founded by Deng Wen, who has leveraged the hot pot market to build a successful business [2] - The company was established from a collective food factory in Chengdu in the 1990s, with Deng Wen as the legal representative [3] Group 2: Financial Performance - In 2024, Tianwei Foods achieved a revenue of 3.476 billion yuan and a net profit of 625 million yuan, both marking new highs since its listing [2][6] - The company's revenue grew from 1.066 billion yuan in 2017 to 2.365 billion yuan in 2020, with net profit increasing from 184 million yuan to 364 million yuan during the same period [5] Group 3: Strategic Developments - The company plans to issue H-shares and list on the Hong Kong Stock Exchange to enhance its international presence and business layout [7] - Deng Wen has shifted the company's focus from primarily hot pot base products to a broader range of Chinese seasonings, with revenue from these products surpassing that of hot pot bases by 2023 [6] Group 4: Challenges and Adjustments - Tianwei Foods faced a decline in performance in 2021 due to macroeconomic factors, prompting Deng Wen to implement various adjustments, including embracing new retail strategies and optimizing supply chains [6] - The company has shown resilience, with performance stabilizing and achieving record highs in 2024 after implementing these strategies [6]