让大部分零售老板看见未来零售 以下文章来源于零售圈 ，作者渔火 零售圈 . 为中国食品行业的发展注入了强大的动力。 文 ｜ 渔火 来源｜ 零售圈（ID：retailsphere） 封面来源 ｜ pexels 河南，这片古老而富饶的土地，地大物博，位居天下之中。从北向南，郑州市、开封市、洛阳市等诸多城市星罗棋布，总面积约16.7万平方公里，约占中 国面积的1.74%。 凭借肥沃的土地、适宜的气候以及便利的交通等得天独厚的资源禀赋，河南孕育出了蓬勃发展的食品产业，众多河南人投身其中，在食品产业链的各个环 节发光发热，构建起庞大而完整的产业体系，可以说在中国食品行业里占据了举足轻重的地位。 "零售圈"从品类视角出发，优中选优，挑选出其中最具代表性的9个河南人，他们以独特的智慧与坚韧不拔的毅力，在各自的领域深耕细作，他们的故 事，是河南食品力量崛起的最佳注脚。 调料类——十三香 王守义 在河南，有这样一个人，凭借一腔执着，将祖传的调味秘方从街边叫卖的小摊，发展为香飘四海的调料帝国，让十三香的名字随炊烟飘进亿万中国厨房。 作为十三香调料的创始人，王守义凭借着对调味品行业的敏锐洞察和不懈努力，在60岁的时候，拿着100元 ...

Q&A 当前家电行业的出口情况如何，关税政策对行业有何影响？ 家电行业的出口情况受到各国关税政策的显著影响。近期，美国与越南达成了 20%的关税协议，而东南亚国家如菲律宾、马来西亚、印尼等普遍在 30%以 上，日韩为 25%，巴西则高达 50%。越南目前拥有最低的关税，这使得符合 越南原产国认证的产品在美国市场具有竞争优势。因此，许多企业选择在越南 扩产，以便利用较低的关税优势。家电产业链，包括钣金、喷漆、PCB 等领域， 也随之向越南转移。 此外，美国国内铜价因特朗普政府加征 50%关税而上涨， 这进一步影响了原材料成本。整体来看，中国家电供应链在海外市场特别是美 国市场上的可替代性较弱，因此确定性对于企业至关重要。在这种背景下，拥 首席联合电话会 - 消费专场 20250710 摘要 越南关税优势吸引家电产业链转移，叠加美国对中国商品加征关税，促 使企业在越南扩产以降低成本，科沃斯、石头科技、德昌股份等已在越 南设厂，美的和兆驰股份也在扩展越南生产线。 美国需求平稳且对涨价接受度高，叠加黑五和圣诞采购周期临近，出口 链公司，尤其是龙头企业，预计将迎来明确的业绩增长，二季度或成为 业绩底部。 国内家电市场表 ...

Core Viewpoint - The Huangshi Market Supervision Administration has conducted a food safety inspection, revealing that out of 624 food samples tested, 613 passed while 11 were found to be non-compliant, highlighting ongoing food safety concerns in the region [3][4]. Summary by Categories Inspection Results - A total of 624 food samples were tested, covering 21 categories including grain products, edible oils, pastries, alcoholic beverages, meat products, beverages, condiments, tea, eggs, dairy, vegetable products, frozen foods, canned goods, aquatic products, starch, honey, fruit products, convenience foods, catering foods, and agricultural products [3]. - Of the 624 samples, 613 were compliant, resulting in a compliance rate of approximately 98.24% [4]. Non-compliance Details - The 11 non-compliant samples included: - 1 batch of condiments with excessive sulfur dioxide residue - 3 batches of vegetable products with violations related to lemon yellow, benzoic acid, and sorbic acid - 2 batches of agricultural products with pesticide residues (thiamethoxam and enrofloxacin) - 5 batches of catering foods with issues related to anionic synthetic detergents, sodium saccharin, sweeteners, and coliform bacteria [4][5]. Follow-up Actions - The Huangshi Market Supervision Administration has mandated immediate investigation and handling of the non-compliant products, including actions such as removal from shelves, recalls, and sales suspensions, along with further legal investigations [5].

中金研究 1H25消费需求低位企稳，在整体消费信心偏弱背景下食饮消费不乏结构性亮点，满足年轻人悦己需求及高质价比产品表现突出。展望下半年，在国家 持续出台相关政策拉动内需、提振消费、鼓励生育的背景下，我们认为食饮板块需求有望边际企稳改善。分板块看大众食品基本面自3月起边际改善， 下半年基本面有望稳中改善，我们预计新消费标的延续相对高成长，辣味零食、健康饮品、气泡黄酒等新消费趋势景气度有望保持，带动板块估值抬 升，看好休闲零食、软饮料等子板块下半年表现。白酒受宏观经济及政策影响出现板块性估值回调，基本面处于筑底阶段，虽下半年白酒基本面或仍 有所承压，但估值已基本反映悲观预期，配置价值渐显。 点击小程序查看报告原文 Abstract 摘要 大众食品：预计新消费趋势延续，关注高景气赛道龙头。 展望2025年下半年，我们预计大众食品板块需求有望稳中向上，并预计具备新消费属性的子赛 道如休闲零食中魔芋等品类、软饮料中无糖茶、电解质水、椰子水等健康品类有望保持创新活力，通过持续抓取新消费趋势延续较高景气度。子板块方面 我们优先推荐软饮料、休闲零食，建议关注估值处于低位的乳制品、啤酒板块。长期看，行业结构性增长机会仍存，悦 ...

随着气温逐渐攀升，2025年的第二个季度已经结束，一年已经匆匆的流走了一半。 在本周，我们将对2025Q2的线下零售消费情况进行复盘，涉及到的参照对象中，同比对象为2024Q2，环比对象为2025Q1。 复盘数据均基于马上赢品牌CT。马上赢品牌CT的线下零售监测网络覆盖了全国县级以上各等级城市（不含乡、镇、村），并深度覆盖全国核心城市群， 业态覆盖包括大卖场、大超市、小超市、便利店、食杂店。马上赢通过AI和大数据技术对样本门店的交易订单进行实时全量POS数据的自动化清洗。目 前，马上赢品牌CT中监测的品牌超30万个，商品条码量超过1400万个，年订单数超过50亿笔； 本次季度复盘使用了马上赢【连续门店模型】与【全量门店模型】两种数据来源模型。其中涉及销售额、订单量等规模相关的均使用了【连续门店模 型】，以确保样本一致、减少消除门店数量及汰换对数据结果构成的影响，对于均值、份额等，则依然使用【全量门店模型】数据进行观察。在所有的数 据图中，数据来源部分均标识了所使用的数据样本模型，请各位读者仔细甄别。 如需查阅2025年各季度的线下零售速报，请点击：数据首发丨2025Q1线下零售速报 01、季度整体概况 我们选 ...

Group 1 - The recall of over 1.2 million charging products by brands like Romoss and Anker highlights increasing safety regulations in the industry, with the Civil Aviation Administration of China prohibiting the transport of non-CCC certified and recalled models on domestic flights [1] - Romoss has issued a notice for consumers to safely dispose of recalled products and receive refunds without returning the items, addressing logistics challenges and demonstrating corporate responsibility [1] - The incident serves as a reminder for the industry that safety is paramount, urging companies to maintain quality control and consumers to be vigilant about using outdated products [1] Group 2 - The summer box office for 2025 has surpassed 2.5 billion yuan by early July, indicating a strong market performance with diverse film offerings [2] - Over 60 domestic and international films have been scheduled for release during the summer, showcasing a variety of genres and catering to different audience preferences [2] - The robust ticket sales reflect the progress in the Chinese film market regarding genre diversification and content innovation, contributing to the industry's sustained growth [2] Group 3 - The opening of Shanghai Lego Park has significantly increased search and booking activity, with a fivefold increase in searches on travel platforms since May [3] - Room rates have surged, with some prices reaching 7,823 yuan per night, indicating the park's strong market appeal and its potential as a new tourist landmark [3] - Industry experts suggest that achieving a return on investment within 7 to 10 years would be considered successful, emphasizing the need for theme parks to balance short-term popularity with long-term operational sustainability [3] Group 4 - Anjiu Foods became the first company to list on both A-share and H-share markets, but its stock price fell by 5% on the first trading day, reflecting market concerns [4] - The company faced opposition from some minority shareholders prior to its listing, and its growth rate has shown signs of slowing down [4] - In a competitive environment emphasizing quality and price, Anjiu Foods must focus on product innovation, channel optimization, and supply chain efficiency to drive internal growth [4]

Core Viewpoint - Anjiu Foods has become the first A+H dual capital platform enterprise in the frozen food industry by listing on the Hong Kong Stock Exchange, but its stock price fell on the first day of trading, raising concerns among small shareholders about the potential negative impact on A-share prices due to the H-share listing [1][2]. Group 1: Investor Concerns - Small investors are primarily worried that the performance of the Hong Kong stock will limit the price increase of the A-shares, fearing an implicit dilution effect if the H-shares trade below the A-shares [1][2]. - There is skepticism regarding the necessity of raising funds through the Hong Kong listing, especially since Anjiu Foods has accumulated significant cash reserves since its A-share listing in 2017 [1]. - Concerns have been raised about the company's financing practices, with accusations of "money-grabbing" due to the cycle of financing, cashing out, and refinancing, despite having over 2 billion yuan in cash [1]. Group 2: Institutional Investor Perspective - Large institutional investors are generally optimistic about Anjiu Foods' Hong Kong listing, viewing it as a key factor for the IPO's success [2]. - The company plans to allocate 35% of the raised funds to expand into Southeast Asia, where the hot pot restaurant market is growing at an annual rate of 14.4%, and the penetration rate of frozen food is below 5% [2]. - The stricter ESG disclosure and transparency requirements of the Hong Kong market are expected to enhance the company's governance structure, which could boost investor confidence in the long run [2]. Group 3: Investment Strategies - Small investors can mitigate the short-term negative impact of implicit dilution by selling their A-shares and buying H-shares of Anjiu Foods, potentially lowering their holding costs [3].

唐代诗人白居易在《荔枝图序》中写道："若离本枝，一日而色变，二日而香变，三日而味变，四五日 外，色香味尽去矣。"古人曾以"跑瘦数十匹快马"来解锁食物保鲜难题。而在今天，科技赋能冷链赛 道，河南企业借助枢纽经济、通道经济，让一个柠檬、一颗榴莲、一篮蔬菜跑出穿越时空的"鲜"速度。 位于郑州高新区的河南华鼎冷链仓配科技有限公司（以下简称"华鼎冷链科技"），自主研发的"华鼎雪 豹数智大模型"是河南省首批工业大模型之一，在超级算法加持下，大幅提升冷链物流的运营效率， 使"隔日达"成为走乡入村的新速度。 一颗荔枝在中原大地能跑出多少"鲜"速度？ 7月4日凌晨3时许，两辆满载46吨越南荔枝的冷藏车顺利抵达中牟万邦国际农产品物流城鲜果区C32档 口，28岁的商户杨博随即开始了新一天的忙碌。 当天凌晨，越南、广东荔枝先后到货，一开柜就被抢购了一大半。 万邦集团优选供应链品牌负责人杨莎拿出一颗新鲜荔枝说，清晨在广西桂平麻垌果园枝头摘下的荔枝， 通过冷链物流，次日便能极速到达中原百姓的餐桌，完成从枝头到舌尖的"甜蜜接力"。 还有一些名贵的荔枝品种通过空运抵郑，下午上飞机，晚上去机场接货。可以说，摘下的荔枝就像睡了 一觉，醒来就到了 ...

Core Viewpoint - Anjiu Food's stock price fell below its IPO price on the first day of trading, reflecting market skepticism about the company's capital raising efforts and financial health [1][6]. Group 1: IPO and Market Response - Anjiu Food officially listed on the Hong Kong Stock Exchange on July 4, with an opening price that declined nearly 5%, closing at HKD 57.00 per share, below the IPO price of HKD 60.00 [1]. - The global offering involved nearly 40 million H-shares, priced at a 30% discount compared to its A-share closing price of CNY 78.74 on July 1 [1]. Group 2: Shareholder Concerns - During the 2024 shareholder meeting, the proposal for H-share listing received 70.63% approval, but over 28% of votes were against it, with 60.51% of dissenting votes coming from minority shareholders holding less than 5% [3]. - Since reaching a peak of CNY 105.5 on October 8, 2024, Anjiu Food's A-share price has dropped to CNY 76.40, marking a cumulative decline of 19% [3]. Group 3: Financial Health - As of September 2024, Anjiu Food reported cash and cash equivalents of CNY 2.57 billion and trading financial assets of CNY 3.122 billion, with consistent net inflows from operating cash flow [3]. - The company has a low debt level, with short-term borrowings of only CNY 111 million and no long-term debt, resulting in an asset-liability ratio of 20.7%, significantly below the industry average [3]. Group 4: Performance and Management Issues - Anjiu Food's revenue growth has sharply declined from 31.39% in 2022 to 7.7% in 2024, with net profit growth plummeting from 61.37% to just 0.46% [5]. - In contrast to the declining shareholder value, executive compensation has increased significantly, with total compensation rising from CNY 12.08 million in 2022 to CNY 19.73 million in 2024, a 63.4% increase [5]. Group 5: International Expansion Challenges - Anjiu Food's international revenue remains minimal, accounting for only CNY 39.8 million in Q1, representing 1% of total revenue and a 3.1% decline year-on-year [6]. - The company faces challenges in international expansion due to varying dietary preferences and competition from domestic peers in overseas markets [6].

经安井食品集团股份有限公司（以下简称"公司"）第四届董事会第十七次 会议、2020 年年度股东大会审议通过，并经中国证券监督管理委员会《关于核 准福建安井食品股份有限公司非公开发行股票的批复》 证券代码：603345 证券简称：安井食品 公告编号：临 2025-036 安井食品集团股份有限公司 关于注销部分募集资金专户的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 一、募集资金基本情况 三、本次注销募投项目募集资金节余情况及主要原因 截至本公告披露日，本次注销募投项目募集资金节余情况如下： （证监许可20213419 号） 核准，公司通过非公开发行股票方式向特定投资者发行 48,884,872 股人民币普通 股（A 股），发行价格为 116.08 元/股，募集资金总额为 5,674,555,941.76 元，扣 除与募集资金相关的发行费用 39,981,864.58 元（不含增值税），公司实际募集 资金净额为 5,634,574,077.18 元。 募 集 资 金 5,674,555,941.76 元 扣 除 相 关 ...