杭州国际博览中心举办的浙江省农博会逛展入口处，上周日早上8点半，不少年轻人刚过安检机， 就直接跑了起来。开馆时间是早上9点，跑啥呢？他们是主播，抢"C位"！ 今年的省农博会，相信很多逛展市民也发现了这道特别的"风景线"，展位上，角落里，甚至是展馆 外的通道上，你都能看见在做直播的人，几乎可以说是"一步一主播"。 早九晚六 每天超100名主播线上带货 在3楼展厅的尽头，有一块电商直播专区。早上8点半，几位年轻女孩早早架起了一排手机支架，背 后是来往不绝的逛展人，手机前则是数以万计的全国网友。 这是一支来自武汉的主播团队。27岁的舒心既是主播，也是这支队伍的主管，自2022年入行做主 播，她已在这条赛道上深耕三年。 "早上8点就蹲在门口了，门一开，我们就百米冲刺。这是'C位'啊，你看，来往的人多，画面就热 闹。"舒心说。 这几天，她们一到早上9点就准时开播，两名主播轮番上阵，每人连播4小时，直到傍晚6点才收 工。镜头前，她们热情洋溢地推介着爆款产品，"宝宝们，我们今天带来的产品是烧卖和花生，烧卖99 元4袋，是我们的主打产品，特别受欢迎，宝妈买得比较多。" 记者问有什么"爆单秘籍"，舒心笑着说："哪有什么秘诀？就 ...

Core Viewpoint - The "Zhenpin" food brand from Shanwei has gained significant attention at the 2025 Shenzhen Food Expo, showcasing a variety of local delicacies and enhancing the market presence of Shanwei products [3][4][19]. Group 1: Event Overview - The 2025 Global High-end Food and Quality Agricultural Products Expo took place from October 22 to 24, 2025, in Shenzhen [2]. - The Shanwei exhibition area attracted large crowds, featuring a diverse array of local foods such as sweet potato vermicelli, dumplings, and beef jerky [3][6]. Group 2: Product Highlights - Popular products included various types of dumplings and snacks, with some vendors selling out on the first day and requiring restocking [7][10]. - The exhibition featured unique offerings like spicy sweet potato vermicelli and nourishing garlic soup, which appealed to visitors [10][11]. - Shanwei's beef products, such as beef balls and beef jerky, were particularly well-received, showcasing local culinary traditions [15][16]. Group 3: Brand Development - "Zhenpin" is a city brand developed by the Shenzhen government to promote food safety and quality, aligning with international standards [19][20]. - Since 2023, Shanwei has implemented a reward system for "Zhenpin" products, providing financial incentives to local producers, with a total of 47 products developed and 1.45 million yuan in subsidies distributed [23][25]. - The initiative has positioned Shanwei as a leader in the Guangdong province, particularly in the eastern and northern regions [26]. Group 4: Market Expansion - The Shanwei government aims to deepen collaborations with Shenzhen's retail chains, e-commerce platforms, and restaurants to expand the reach of Shanwei products [28][30]. - The "Zhenpin" initiative has significantly enhanced the market influence and brand competitiveness of Shanwei products, facilitating their entry into broader markets [30][31].

Group 1 - The tourism market in Hohhot is experiencing significant growth due to its unique natural scenery and rich cultural heritage, attracting a large number of visitors during the peak season [1][5] - Various tourism resources, such as the Chulu Ranch, are drawing crowds, with local businesses benefiting from increased foot traffic and sales [2][3] - Local food and cultural events, including concerts and food festivals, are enhancing visitor experiences and driving up food-related sales in the area [4][5] Group 2 - Local businesses, including photography studios and ethnic clothing rentals, are capitalizing on the influx of tourists, with some reporting daily customer volumes of around 10 groups for photo shoots [2][3] - The demand for local specialties, such as beef jerky and ethnic handicrafts, is high, with some stores experiencing long queues and frequent restocking [2][3] - The overall increase in tourist numbers and total tourism revenue indicates a robust recovery and growth in the tourism sector in Hohhot [5]

Core Viewpoint - The company is experiencing pressure on its operations due to a challenging external consumption environment, leading to a downward revision of profit forecasts for 2025-2026, while maintaining a "buy" rating based on expected recovery in the future [4] Revenue and Profitability - In 2024, the company's revenue and net profit attributable to shareholders were 1.87 billion and 80 million respectively, showing a year-on-year decline of 1.7% and 37.7% [1] - For Q4 2024, revenue and net profit attributable to shareholders were 500 million and 2 million respectively, with year-on-year declines of 11.9% and 94.7% [1] - In Q1 2025, revenue and net profit attributable to shareholders were 470 million and 20 million respectively, reflecting a year-on-year increase of 1.5% but a decline of 38.0% in net profit [1] Channel Performance - In 2024, revenue from distribution and direct sales channels decreased by 6.0% and increased by 4.3% respectively, influenced by economic conditions and competition in the restaurant market [1][2] - The company’s revenue from major product categories in 2024 included staple foods (910 million, -6.9%), snacks (440 million, -13.8%), baked goods (370 million, 0.0%), and frozen prepared dishes (140 million, +273.4%) [2] - The company maintained market leadership in fried products, while the pre-prepared dishes category showed significant growth [2] Profit Margin and Costs - The company's net profit margin decreased by 2.6 percentage points in 2024 and by 2.9 percentage points in Q1 2025, with a gross margin of 23.7% in 2024, remaining relatively stable [3] - Sales expense ratio increased by 0.7 percentage points to 5.4% in 2024, reflecting increased marketing efforts to cope with market competition [3] - Management expense ratio rose by 1.2 percentage points to 9.7% in 2024, indicating higher operational costs [3] Future Outlook - The company anticipates improvement in operations with a potential recovery in restaurant demand, maintaining a "buy" rating despite the current challenges [4] - The earnings per share (EPS) forecasts for 2025 and 2026 have been revised down to 0.91 and 1.05 respectively, with an introduction of a 2027 EPS forecast of 1.14 [4] - The target price is set at 29.40, based on a 28x price-to-earnings ratio for 2026, reflecting a decrease from the previous target of 35.11 [4]