1月13日，安井食品盘中下跌2.00%，截至14:10，报86.20元/股，成交3.47亿元，换手率1.36%，总市值 287.30亿元。 安井食品所属申万行业为：食品饮料-食品加工-预加工食品。所属概念板块包括：预制菜、社保重仓、 中盘、融资融券、社区团购等。 截至9月30日，安井食品股东户数6.32万，较上期增加78.56%；人均流通股4641股，较上期减少 43.98%。2025年1月-9月，安井食品实现营业收入113.71亿元，同比增长2.66%；归母净利润9.49亿元， 同比减少9.35%。 分红方面，安井食品A股上市后累计派现32.19亿元。近三年，累计派现25.21亿元。 机构持仓方面，截止2025年9月30日，安井食品十大流通股东中，香港中央结算有限公司位居第四大流 通股东，持股540.10万股，相比上期减少653.91万股。中庚价值先锋股票（012930）位居第八大流通股 东，持股430.55万股，相比上期减少11.35万股。南方中证500ETF（510500）退出十大流通股东之列。 责任编辑：小浪快报 资金流向方面，主力资金净流出1326.08万元，特大单买入2134.05万元，占比6.1 ...

Group 1 - The core viewpoint of the news is that Anjuke Foods has seen a stock price increase of 5.02%, reaching 86.00 yuan per share, with a trading volume of 4.12 billion yuan and a market capitalization of 286.63 billion yuan as of January 8 [1] - Anjuke Foods Group Co., Ltd. is based in Xiamen, Fujian Province, and was established on December 24, 2001, with its listing date on February 22, 2017. The company specializes in the research, production, and sales of frozen foods, including various products such as fish tofu, fish balls, and frozen dishes [1] - The main revenue composition of Anjuke Foods includes 49.43% from frozen prepared foods, 31.77% from frozen dishes, 16.32% from frozen noodle and rice products, and 2.38% from agricultural and other products [1] Group 2 - According to data, a fund under Bank of China Securities holds a significant position in Anjuke Foods, with the Zhongyin Securities Xinrui 6-Month Holding A fund holding 2,600 shares, representing 0.38% of the fund's net value, ranking as the tenth largest holding [2] - The Zhongyin Securities Xinrui 6-Month Holding A fund was established on November 11, 2020, with a current scale of 32.9375 million. The fund has achieved a year-to-date return of 0.46% and a one-year return of 4.3% [2]

Core Viewpoint - Anjiu Foods has shown a slight increase in stock price and trading volume, with notable financing activities indicating a mixed sentiment among investors [1][2]. Group 1: Financial Performance - For the period from January to September 2025, Anjiu Foods achieved a revenue of 11.371 billion yuan, representing a year-on-year growth of 2.66% [2]. - The net profit attributable to shareholders for the same period was 949 million yuan, reflecting a year-on-year decrease of 9.35% [2]. Group 2: Stock and Financing Activities - On January 6, Anjiu Foods' stock price increased by 1.62%, with a trading volume of 369 million yuan [1]. - The financing buy-in amount for Anjiu Foods on the same day was 25.6246 million yuan, while the financing repayment was 16.7392 million yuan, resulting in a net financing buy of 8.8854 million yuan [1]. - As of January 6, the total financing and securities lending balance for Anjiu Foods was 444 million yuan, with the financing balance at 434 million yuan, accounting for 1.79% of the circulating market value, which is below the 40th percentile level over the past year [1]. Group 3: Shareholder Information - As of September 30, 2025, Anjiu Foods had 63,200 shareholders, an increase of 78.56% compared to the previous period [2]. - The average circulating shares per shareholder were 4,641 shares, a decrease of 43.98% from the previous period [2]. - The company has distributed a total of 3.219 billion yuan in dividends since its A-share listing, with 2.521 billion yuan distributed over the last three years [3].

Core Insights - Anjiu Food's stock price increased by 2.11% on November 13, reaching 82.93 CNY per share, with a trading volume of 544 million CNY and a market capitalization of 27.64 billion CNY [1] Company Overview - Anjiu Food Group Co., Ltd. is based in Xiamen, Fujian Province, China, and was established on December 24, 2001. The company went public on February 22, 2017. It specializes in the research, production, and sales of frozen foods, including products like fish tofu, fish balls, and various frozen dishes [2] - The revenue composition of Anjiu Food includes 49.43% from frozen prepared foods, 31.77% from frozen dishes, 16.32% from frozen noodle and rice products, and 2.38% from agricultural products and others [2] Financial Performance - As of September 30, the number of shareholders increased by 78.56% to 63,200, while the average circulating shares per person decreased by 43.98% to 4,641 shares. For the first nine months of 2025, Anjiu Food reported a revenue of 11.371 billion CNY, a year-on-year increase of 2.66%, and a net profit attributable to shareholders of 949 million CNY, a decrease of 9.35% [3] - Anjiu Food has distributed a total of 3.219 billion CNY in dividends since its A-share listing, with 2.521 billion CNY distributed over the past three years [4] Shareholding Structure - As of September 30, 2025, the largest circulating shareholder is Hong Kong Central Clearing Limited, holding 5.401 million shares, a decrease of 6.5391 million shares from the previous period. The eighth largest shareholder is Zhonggeng Value Pioneer Stock, holding 4.3055 million shares, down by 113,500 shares [4]

Core Insights - Anjiu Food's stock price increased by 2.00% on November 5, reaching 75.30 CNY per share, with a total market capitalization of 25.097 billion CNY [1] Company Overview - Anjiu Food Group Co., Ltd. is based in Xiamen, Fujian Province, China, and was established on December 24, 2001, with its listing date on February 22, 2017 [2] - The company specializes in the research, production, and sales of frozen foods, including products like fish tofu, fish balls, and various frozen dishes [2] - The revenue composition of Anjiu Food includes 49.43% from frozen prepared foods, 31.77% from frozen dishes, 16.32% from frozen noodle and rice products, and 2.38% from agricultural products and others [2] Financial Performance - As of September 30, the number of shareholders increased by 78.56% to 63,200, while the average circulating shares per person decreased by 43.98% to 4,641 shares [3] - For the period from January to September 2025, Anjiu Food reported a revenue of 11.371 billion CNY, reflecting a year-on-year growth of 2.66%, while the net profit attributable to shareholders decreased by 9.35% to 949 million CNY [3] Dividend and Shareholding - Anjiu Food has distributed a total of 3.219 billion CNY in dividends since its A-share listing, with 2.521 billion CNY distributed over the past three years [4] - As of September 30, 2025, the largest circulating shareholder is Hong Kong Central Clearing Limited, holding 5.401 million shares, a decrease of 6.5391 million shares from the previous period [4]

Core Viewpoint - The company reported a slight beat in 3Q25 earnings, with revenue and net profit showing positive year-on-year growth, driven by reduced expenses and strategic product performance [1][2]. Financial Performance - 3Q25 revenue reached 3.766 billion yuan, a year-on-year increase of 6.61% - Net profit attributable to shareholders was 273 million yuan, up 11.80% year-on-year - Deducted non-recurring gains, net profit was 264 million yuan, reflecting a 15.27% increase year-on-year [1] - The contribution from the consolidation of Dingwei Thai was approximately 156 million yuan, with core business performance showing a 2.2% year-on-year growth after excluding this factor [1] Product and Market Dynamics - The company experienced mixed performance in its product categories, with frozen prepared foods and rice products declining by 0.5% and 9.1% respectively, while dish products grew by 8.8% year-on-year [1] - Strategic focus on major products helped offset declines in traditional items, with notable performance in the volcanic stone grilled sausage [1] - The company actively engaged in customized offerings for supermarkets, achieving 220 million yuan in revenue from this channel in Q3, a 28.1% year-on-year increase [1] Cost and Profitability - Despite rising procurement costs for fresh fish, the gross margin improved by 0.1 percentage points due to a decrease in the sales proportion of crayfish [2] - Selling expense ratio decreased by 0.3 percentage points year-on-year, attributed to stable promotional efforts and improved expense-to-sales ratio [2] - Management expense ratio fell by 0.5 percentage points year-on-year, due to reduced share-based payment expenses [2] - The net profit margin improved by 0.3 percentage points to 7.3% in 3Q25 [2] Industry Outlook - The demand and competition landscape indicates that the fundamentals have bottomed out, with expectations for recovery in the restaurant sector and improvement in core business [2] - Traditional business remains under pressure, but there are signs of sequential improvement [2] - Major players in the frozen food industry reported that promotional efforts in the B2B sector have not intensified, leading to a shift towards seeking new channel growth [2] Earnings Forecast and Valuation - Revenue forecasts for 2025 and 2026 have been adjusted downwards by 2.5% and 3.4% to 15.66 billion yuan and 16.76 billion yuan respectively [2] - The forecast for net profit attributable to shareholders in 2025 has been reduced by 3.5% to 1.35 billion yuan, while the 2026 forecast remains at 1.54 billion yuan [2] - The current stock price trades at 18.1 and 15.8 times P/E for 2025 and 2026, with a target price maintained at 84.0 yuan per share, indicating a potential upside of 15.1% from the current price [2]

Group 1 - The core viewpoint of the news is that Anjuke Foods has experienced fluctuations in stock price and trading volume, with a recent increase in share price despite a year-to-date decline [1] - As of October 30, Anjuke Foods' stock price rose by 2.00% to 74.46 CNY per share, with a total market capitalization of 24.817 billion CNY [1] - The company has seen a net outflow of main funds amounting to 16.75 million CNY, with significant trading activity in large orders [1] Group 2 - Anjuke Foods, established on December 24, 2001, specializes in the research, production, and sales of frozen foods, including various types of fish balls and frozen dishes [2] - The company's revenue composition includes 49.43% from frozen prepared foods, 31.77% from frozen dishes, and 16.32% from frozen noodle and rice products [2] - Anjuke Foods operates primarily in the domestic and overseas markets, with its industry classification under food and beverage processing [2] Group 3 - As of September 30, the number of shareholders for Anjuke Foods increased by 78.56% to 63,200, while the average circulating shares per person decreased by 43.98% [3] - For the period from January to September 2025, Anjuke Foods reported a revenue of 11.371 billion CNY, reflecting a year-on-year growth of 2.66%, while net profit attributable to shareholders decreased by 9.35% to 949 million CNY [3] Group 4 - Anjuke Foods has distributed a total of 3.219 billion CNY in dividends since its A-share listing, with 2.521 billion CNY distributed over the past three years [4] - As of September 30, 2025, the top ten circulating shareholders include Hong Kong Central Clearing Limited, which holds 5.401 million shares, a decrease of 6.5391 million shares from the previous period [4]

Core Viewpoint - Anjoy Foods Group Co., Ltd. reported a slight increase in revenue but a significant decline in net profit for the first half of 2025, indicating challenges in maintaining profitability amidst rising costs and market competition [2][3]. Financial Performance - Revenue for the first half of 2025 reached approximately RMB 7.60 billion, a 0.80% increase compared to RMB 7.54 billion in the same period last year [3]. - Total profit decreased by 16.51% to RMB 886.31 million from RMB 1.06 billion year-on-year [3]. - Net profit attributable to shareholders fell by 15.79% to RMB 675.94 million from RMB 802.65 million [3]. - The net cash flow from operating activities was negative at RMB -162.92 million, a decline of 132% compared to the previous year [3]. - The company's net assets increased by 2.98% to RMB 13.34 billion, while total assets decreased by 1.65% to RMB 17.09 billion [3]. Industry Overview - The Chinese frozen food industry is projected to reach a market size of approximately RMB 221.2 billion in 2024, making it the second-largest frozen food market globally [3]. - The frozen prepared food segment is expected to grow at a compound annual growth rate (CAGR) of 7.1% from 2024 to 2029, driven by diverse dining preferences and increasing demand for quality products [3]. - The frozen dish segment is anticipated to grow at a CAGR of 16.1% during the same period, as industry standards improve and consumer demand for convenient, high-quality meals rises [3]. - The frozen noodle and rice products market is projected to reach RMB 77.1 billion in 2024, with traditional products maturing and new offerings gaining traction [3]. Business Operations - Anjoy Foods specializes in the research, production, and sales of frozen prepared foods, frozen dishes, and frozen noodle products, establishing a significant marketing network centered in East China [3][4]. - The company offers over 500 products, including fish tofu, fish balls, and various frozen dishes under multiple brands [4][5]. - The company has adopted a multi-brand strategy to cater to different market segments and enhance its product offerings [5]. Strategic Initiatives - Anjoy Foods is focusing on product innovation and market expansion, with a strategy to develop 3-5 strategic flagship products annually [5][13]. - The company is enhancing its supply chain efficiency through digitalization and AI integration, aiming to improve procurement, production, and sales processes [15][18]. - Recent acquisitions, including a 70% stake in Jiangsu Dingweitai Food Co., Ltd., are aimed at expanding into the frozen baking sector and enhancing product offerings [15][16]. Market Positioning - The company is actively pursuing opportunities in both domestic and international markets, with plans to leverage its recent Hong Kong listing to expand its global footprint [16]. - Anjoy Foods is adapting to changing consumer preferences by focusing on high-quality, customized products and enhancing its online and offline sales channels [12][14].

承董事會命 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或因倚 賴該等內容而引致的任何損失承擔任何責任。 ANJOY FOODS GROUP CO., LTD. 安井食品集團股份有限公司 （於中華人民共和國註冊成立的股份有限公司） （股份代號：2648） 本公告乃根據《香港聯合交易所有限公司證券上市規則》第13.10B條而作出。 茲 載 列 安 井 食 品 集 團 股 份 有 限 公 司（「 本公司 」）在 上 海 證 券 交 易 所 網 站 ( www.sse.com.cn )刊登的本公司2025年半年度報告（A股），僅供參閱。 安井食品集團股份有限公司 董事長兼執行董事 劉鳴鳴先生 中國廈門，2025年8月25日 於本公告日期，本公司董事會成員包括：(i)執行董事劉鳴鳴先生、張清苗先生、 章高路先生及黃建聯先生；(ii)非執行董事鄭亞南博士及戴凡先生；及(iii)獨立非 執行董事張梅女士、劉曉峰博士、趙蓓博士及張躍平先生。 公司代码：603345 公司简称：安井食品 2025 年半年度报告 ...