Group 1 - The company plans to engage in new daily related transactions with its controlling shareholder's affiliate, with an estimated total business scale not exceeding RMB 80 million [1][9] - The transactions will follow fair and reasonable pricing principles based on market price negotiations [9][10] - The independent directors have approved the proposal, stating that the transactions are necessary for business operations and will not harm the interests of non-related shareholders [10] Group 2 - The company has outlined specific categories and amounts for related transactions, including sales of pork products and chicken, with expected amounts of RMB 55 million and RMB 20 million respectively [2][5] - The company has not engaged in any related transactions with the mentioned affiliates in the previous year [2] - The related parties involved include Beijing Qianxihe Food Co., Ltd., Chengdu Hope Food Co., Ltd., and New Jiu Commercial Development Co., Ltd., all of which are under the same actual controlling party [3][5][9]

云南省商务厅对外贸易处处长邓锐戟宇介绍，除贸易签约外，本届南博会还促成各类供应链服务、国际 物流、海外仓建设、口岸基础设施及智能化服务等合作协议项目20余个，推动云南从区域贸易节点向全 球产业链枢纽加速转型。 中新网昆明6月23日电 (罗婕)23日，记者从第9届中国—南亚博览会外贸成果专场暨环印度洋RCEP及澜 湄国家经贸成果发布会获悉，截至目前，本届南博会共签约商贸合同163个，签约金额达86.63亿元。 6月23日，第9届中国—南亚博览会外贸成果专场暨环印度洋RCEP及澜湄国家经贸成果发布会在昆明举 办。 罗婕摄 本届南博会19日启幕，吸引5000余家国内外企业参展参会。目前签约产品主要为农产品食品类、矿产品 类、化工类、机械设备类和服装鞋帽等。从签约区域看，东南亚国家实际签约合同89个，金额11.79亿 元，占比14.3%。签约合同数最多的国家和地区依次是缅甸、中国香港、意大利。 （文章来源：中国新闻网） 此外，南博会首次开设跨境直播专区，来自美国、加拿大、亚美尼亚、肯尼亚等国家的百万级网红主播 通过直播平台向全球展示推介云花、云咖、云茶、手工艺品、民族服饰等特色产品，会期累计观看人数 570万人次，日 ...

炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 出品：新浪财经上市公司研究院 作者：新消费主张/cici 5月28日，上海凯诘电子商务股份有限公司（以下简称"凯诘电商"）正式向港交所提交上市申请书，由 中信建投国际担任独家保荐人。这是公司继2016年新三板挂牌、2021年A股创业板撤单、2023年沪市 IPO终止后的第四次资本市场征程。 此次IPO，凯诘电商拟将募集资金用于业务运营的策略性扩展及创新；采购专门的技术资源，包括办公 系统及各类软件等，以支持品牌合作伙伴的新产品开发并提高运营效率；增加市场推广开支；构建私域 社群体系；加强数字营销能力等。 凯诘电商此次冲击港交所胜算几何？首先，从行业赛道来看，随着国际品牌自建团队、直播电商的兴起 及平台算法规则迭代，美妆代运营行业真经历阵痛期，其"渠道搬运工"角色逐渐被边缘化；其次，公司 业绩表现不如4年前，近两年公司的业绩状况均处于"营收、净利润双降"及毛利率下滑的状态；最后， 公司还存在过度依赖前五大品牌的现象，前五大品牌贡献GMV由2022年的64.4%进一步提升至2024年的 80.4%。 再冲资本市场：行业景气度下滑、业绩连续双 ...

Investment Rating - The report maintains a "Buy" investment rating for the company [4] Core Views - The company reported a total revenue of 370 million yuan in Q1 2025, representing a 4% year-on-year increase, while the net profit attributable to shareholders decreased by 6% to 37 million yuan [1] - The gross margin is expected to improve gradually as operational efficiency offsets depreciation impacts, with a slight decrease in gross margin to 25.47% in Q1 2025 [2] - The company continues to narrow the single-store gap and is advancing brand acquisitions and supply chain integration, with food revenue reaching 334 million yuan, a 5% increase year-on-year [3] Summary by Sections Financial Performance - Q1 2025 total revenue was 370 million yuan, with a 4% increase year-on-year; net profit attributable to shareholders was 37 million yuan, down 6% [1] - Q1 2025 gross margin decreased by 0.4 percentage points to 25.47%, primarily due to one-time investments from the new Wuhan factory [2] - Sales expense ratio and management expense ratio decreased by 1 percentage point and 0.1 percentage points to 4.06% and 7.55%, respectively [2] Growth Drivers - Food revenue in Q1 2025 was 334 million yuan, with rice and flour, filling, and purchased food categories growing by 3%, 11%, and 4% respectively, driven by ongoing brand acquisitions and supply chain integration [3] - Franchise sales revenue reached 265 million yuan, a 3% increase, with 5,644 franchise stores as of the end of Q1 2025, reflecting a net increase of 501 stores [3] - Group meal revenue grew by 12% to 93 million yuan, supported by rising customer demand and customized products [3] Profitability Forecast - The company is expected to maintain its store opening pace and benefit from brand acquisitions, with EPS projected at 1.08, 1.17, and 1.24 yuan for 2025-2027, corresponding to PE ratios of 17, 16, and 15 times [4]

Investment Rating - The report maintains a "Buy" investment rating for the company [4] Core Views - The company reported a total revenue of 370 million yuan in Q1 2025, representing a 4% year-on-year increase, while the net profit attributable to shareholders decreased by 6% to 37 million yuan [1] - The gross margin is expected to improve gradually as operational efficiencies offset depreciation impacts, with a slight decrease in gross margin to 25.47% in Q1 2025 [2] - The company continues to narrow the single-store gap and is advancing brand acquisitions and supply chain integration, with food revenue reaching 334 million yuan, a 5% increase year-on-year [3] Summary by Sections Financial Performance - Q1 2025 total revenue was 370 million yuan, with a net profit of 37 million yuan, and a non-recurring net profit of 39 million yuan, reflecting a 3% increase [1] - The gross margin decreased by 0.4 percentage points to 25.47% due to one-time investments from the new Wuhan factory, but operational efficiencies are expected to improve margins in subsequent quarters [2] Business Development - Food revenue was 334 million yuan, with specific segments like rice and flour, filling, and purchased food growing by 3%, 11%, and 4% respectively, driven by ongoing brand acquisitions and supply chain integration [3] - The franchise sales revenue reached 265 million yuan, a 3% increase, with a total of 5,644 franchise stores by the end of Q1 2025, reflecting a net increase of 501 stores [3] Profitability Forecast - The company is expected to maintain its store opening pace and benefit from brand acquisitions, with EPS projected at 1.08, 1.17, and 1.24 yuan for 2025-2027, corresponding to PE ratios of 17, 16, and 15 times [4]