近年来，安康市充分利用丰富的林地资源，大力发展林下种养殖产业。中国人民银行安康市分行抢抓这 一发展契机，引导辖内金融机构助力林下经济成为盘活乡村资源、促进农民增收的新引擎。 岚皋县是全国魔芋重点生产县，"岚皋魔芋"获得地理标志产品和地理标志登记保护农产品双认定。去年 初秋，岚皋县润福源魔芋发展有限公司总经理张智美又一次来到岚皋县四季镇长梁村山头，看着林下生 机盎然的魔芋种植园，脸上露出了欣慰的笑容。2021年来自福建的张智美了解到岚皋土壤富含硒元素， 是魔芋的最佳适生区之一，有着"中国魔芋之乡"的美名，就怀揣着满腔热情，带着1000万元资金奔赴这 片陌生的土地。 4年多来，该企业以林下魔芋为核心经营项目，稳步推进产业链建设与市场布局。生产端，公司新建1条 魔芋豆腐生产线与1条清水食材生产线，年产量可达2000吨，实现了魔芋从初级农产品向加工食材的转 化升级；市场端，已构建以福州、重庆、泉州为核心的营销网络体系，为产品销售提供稳定保障。去 年，岚皋农商银行在中国人民银行安康市分行组织开展的"十行千亿惠万企"走访活动中了解到企业因扩 大魔芋种植规模存在300万元的资金缺口后，启动快速响应机制，深入企业开展贷前调查 ...

Investment Rating - The report suggests a positive outlook for the liquor sector, with a recommendation to invest in specific companies based on supply and demand improvements expected in 2026 [1] Core Insights - The snack industry is showing signs of recovery, with companies entering the critical phase of preparing for the Spring Festival, which is expected to boost performance in Q1 2026 due to low base effects and seasonal demand [2] - Companies are adjusting their channel operations and product priorities in response to evolving market demands, leading to gradual improvements in their performance [2] - Specific companies like 甘源食品 (Ganyuan Food) and 劲仔食品 (Jinzai Food) are highlighted for their strategic adjustments and potential for recovery in 2026 [3][4] Summary by Sections Liquor Sector - The liquor market is expected to see a dual improvement in supply and demand by 2026, with short-term sales showing signs of recovery [1] - Recommended companies for investment include 泸州老窖 (Luzhou Laojiao), 古井贡酒 (Guojingongjiu), and 贵州茅台 (Kweichow Moutai) among others [1] Snack Industry - The snack sector is entering a critical preparation phase for the Spring Festival, with companies like 甘源食品 (Ganyuan Food) and 劲仔食品 (Jinzai Food) making strategic adjustments to improve their market positions [2][3][4] - 甘源食品 is expected to recover from a significant revenue decline by leveraging new product launches and channel improvements [3] - 劲仔食品 is shifting focus to new product categories to drive growth, despite facing some revenue pressures [4] Market Trends - The overall food and beverage sector is projected to experience a rebound, with specific attention on the performance of major brands and their strategic responses to market changes [1][2]

1月5日清晨，秦巴山间的晨雾尚未散去，安康市汉滨区建民街道忠诚村的蔬菜产业园里，工人已经 开始忙碌地采摘、分拣、装箱，冷链运输车整装待发。村党支部书记刘瑞红站在地头，手里拿着最新的 订单数据。他说，自从和周边几个村抱团发展，共同开拓市场、对接商户，村里的菜就不愁销路了，价 格也更稳定。 军坝村党总支书记谢涛说，企业投资引入的陆基高密度循环水养殖项目迅速落地，形成了集育苗、 养殖、加工于一体的产业链，带动本村及周边百余户村民增收。 在恒口示范区，梅子铺片区的5个村成立了联合党总支，每月召开联席会议。"大家将各自资源摆上 台面，坦诚协商，统一规划产业，连片发展。"联合党总支负责人介绍，5个村共同规划建设的千亩标准 化贡米产业园已见成效，打造的田园观光线路正在吸引越来越多的游客。 刘瑞红所说的"抱团"，正是安康市近年来推行的"支部联建、产业联盟、资源联享"工作机制的核 心。 安康市通过不断深化完善"三联"工作机制，促进组织振兴、业态共融、资源共享，让各地各展其 长，将乡村特色产业从孤立的"点"串联成"链"，在更加广阔的舞台发展壮大。 支部联建 抱团发展 白河县与接壤的湖北省郧西县的几个乡镇建立边界村党支部联建机制， ...

Core Viewpoint - Wei Long Delicious (09985) has seen a nearly 9% increase in stock price, currently at 12.1 HKD, with a trading volume of 87.75 million HKD, indicating strong market interest and confidence in the company's growth potential [1] Company Summary - The company is recognized as a leader in the spicy snack sector, leveraging its strong market position in both spicy strips and konjac products to build competitive barriers across brand, product, and channel dimensions [1] - The company is approaching a cost inflection point, with profit elasticity expected to be released significantly as upstream farmers increase planting due to rising prices, leading to an expansion in planting area [1] - With new production capacity expected to be gradually released by 2025, a downward cost cycle for konjac powder is anticipated by 2026 [1] - The company has successfully entered high-end channels, exemplified by the introduction of its mushroom konjac product into Sam's Club, marking a shift from mass distribution to premium membership-based channels [1] Industry Summary - The konjac snack food industry has maintained rapid growth and is currently in a phase of rapid expansion, although upstream raw material supply is tight and midstream capacity is limited, indicating that the industry will eventually enter a consolidation phase [1] - The competitive landscape is becoming more concentrated, with leading companies solidifying their competitive barriers [1]

Group 1 - The core viewpoint of the article highlights the strong market position of Weilong Delicious (09985) as a leading player in the spicy snack sector, driven by its dual product categories of spicy strips and konjac, which create competitive barriers across brand, product, and distribution channels [1] - The company is expected to experience a profit elasticity release as the cost inflection point approaches, with an increase in planting enthusiasm among upstream farmers leading to an expansion in planting area [1] - By 2026, the company anticipates a downward cost cycle for konjac powder as new production capacity is gradually released, indicating a positive outlook for profitability [1] Group 2 - The successful entry of the company's mushroom konjac product into Sam's Club in July marks a significant shift from mass distribution channels to high-end membership channels, enhancing product recognition and channel structure [1] - The industry is currently in a rapid expansion phase, but the tight supply of upstream raw materials and limited midstream capacity suggest that the industry will eventually enter a consolidation period [1] - The competitive landscape is becoming more concentrated, with leading companies solidifying their competitive barriers, indicating a trend towards industry consolidation [1]

Summary of Key Points from Conference Call Records Industry Overview - **Consumer Sector Outlook for 2026**: The consumer sector is expected to recover significantly, driven by a focus on domestic demand and policy support, particularly in service consumption and new product categories. The real estate sector's negative impact is diminishing, with core CPI showing six months of recovery [2][5][8]. Core Insights and Arguments - **Long Bull Market Prediction**: A long bull market similar to 2016-2019 is anticipated to begin in the second half of 2026, led by AI-driven new products, service consumption, overseas opportunities, and durable goods. The first half of 2026 will see strong performance in overseas markets, while domestic demand will gain attention in the latter half [1][5][6]. - **Policy Support for Consumer Spending**: The introduction of a resident income increase plan by the central economic work conference, along with the appreciation of the RMB and favorable trade policies, will provide a solid foundation for consumer spending in the coming years [1][9][10]. - **AI and 3D Printing Opportunities**: The AI and 3D printing sectors are poised for significant growth, with opportunities across the entire supply chain, including leading companies and innovative hardware products like AI glasses and smart mattresses [1][12]. Key Sectors and Companies to Watch - **Service Consumption**: Focus on service consumption growth in 2026, particularly in travel and tourism, as well as the elderly care sector, which is expected to see increased demand [3][15]. - **Alcohol and Snack Industries**: The liquor sector, particularly major brands like Moutai, is expected to maintain strong performance due to price stability measures. The snack sector is also showing promise, with companies like Wanchen and Yanjin expected to perform well during the pre-Spring Festival period [16][20][24]. - **Elderly Economy**: The silver economy is anticipated to grow, with companies like Sanxia Tourism and Aima Technology showing potential in the elderly travel and mobility sectors [15][11]. Investment Logic and Recommendations - **Consumer Sector Investment**: The consumer sector is seen as undervalued, with significant room for valuation recovery. The focus should be on companies benefiting from policy support and improving domestic demand [2][30]. - **Emerging Technologies**: Investment opportunities in AI and new technologies, particularly in 3D printing and AI-enhanced products, are highlighted as key growth areas [12][35]. - **Overseas Expansion**: Companies with strong overseas branding and supply chain capabilities are recommended for investment, especially in light of the RMB appreciation [13][31]. Additional Insights - **Real Estate Market Impact**: The negative impact of the real estate market on consumer spending is expected to be limited, as government measures to boost public spending and social security are likely to stabilize purchasing power [7][8]. - **Consumer Market Drivers**: Key drivers for the consumer market include urbanization, rising GDP per capita, and demographic shifts, particularly the aging population, which will influence consumption patterns [10][11]. - **Food and Beverage Sector**: The snack and beverage sectors are expected to benefit from new retail models and consumer trends, with specific companies recommended for their growth potential [20][24][27]. This summary encapsulates the essential insights and recommendations from the conference call records, providing a comprehensive overview of the anticipated trends and investment opportunities in the consumer sector for 2026.

贵州威宁："小魔芋"撬动亿元大产业 连日来，贵州省毕节市威宁彝族回族苗族自治县麻乍镇的魔芋迎来集中采收期，种植户们抢抓晴好天气 全力采收。2025年，麻乍镇因地制宜发展魔芋种植1.2万亩，预计总产值可达1.5亿元人民币，有效带动 当地3000余户民众实现增收。图为12月22日，航拍农户在麻乍镇松木坎村魔芋种植基地采挖魔芋。陈逍 摄 图为12月22日，农户在麻乍镇松木坎村魔芋种植基地采挖魔芋。蔡脒 摄 编辑：王永乐 图为12月22日，务工群众在麻乍镇松木坎村翻晒魔芋种子。蔡脒 摄 广告等商务合作，请点击这里 图为12月22日，航拍农户在麻乍镇松木坎村魔芋种植基地采挖魔芋。陈逍 摄 本文为转载内容，授权事宜请联系原著作权人 图为12月22日，农户在麻乍镇松木坎村魔芋种植基地采挖的魔芋。陈逍 摄 来源：中国新闻网 图为12月22日，务工群众在麻乍镇松木坎村翻晒魔芋种子。蔡脒 摄 图为12月22日，农户在麻乍镇松木坎村魔芋种植基地采挖魔芋。陈逍 摄 中新经纬版权所有，未经书面授权，任何单位及个人不得转载、摘编或以其它方式使用。 关注中新经纬微信公众号(微信搜索"中新经纬"或"jwview")，看更多精彩财经资讯。 ...

Core Viewpoint - Yanjin Puzhou expresses confidence in future development through simultaneous stock buybacks and equity incentive plans [2][3] Group 1: Stock Buyback and Incentive Plan - The company plans to repurchase between 2.6 million and 3 million shares, with an estimated buyback amount ranging from approximately 284 million to 328 million yuan [2][3] - The repurchased shares will be used for an equity incentive plan, which includes granting 3 million restricted stocks at a price of 35.18 yuan per share, representing a 50% discount from the current stock price [2][11] - The management believes that the buyback reflects confidence in the company's intrinsic value and sustainable development, aiming to protect the interests of all shareholders, especially minority investors [3][4] Group 2: Financial Performance and Projections - Yanjin Puzhou's stock price has increased by over 19% this year, reaching a high of 98.58 yuan per share in June [5] - The company achieved a revenue of 44.27 billion yuan in the first three quarters of 2025, a year-on-year increase of 14.67%, with a net profit of 6.05 billion yuan, up 22.63% [8] - The company anticipates that its total revenue for 2025 will exceed 60 billion yuan, setting a new historical record [9] Group 3: Future Profit Targets - The equity incentive plan sets ambitious profit targets, requiring a minimum net profit of 8.5 billion yuan for 2026, with a trigger value of 7.65 billion yuan [11] - For the second vesting period (2026-2027), the target is a minimum net profit of 18.5 billion yuan, with a trigger value of 16.65 billion yuan, and for the third vesting period (2026-2028), the target is 31 billion yuan, with a trigger value of 27.9 billion yuan [11]

由于今年国内部分豌豆主产区遭受极端天气影响，产量有所下降，市场供给相对紧张，宾川冬早豌豆成为了市场上的"紧俏货"。据了解， 今年宾川冬早豌豆价格从去年的每公斤7元上涨到每公斤15元至25元。 该养殖基地采用分段式养殖法，初期参苗先在网箱内喂养管护，提升存活率。等到它们长到一定阶段，再转入更开阔的空间进行散养。据 了解，罗源县今年投苗预计明年可以产出150万斤的海参，年产值将超过6000万元。 云南宾川：2.5万亩冬早豌豆上市 价格较去年上涨 近日，云南宾川县的2.5万亩冬早豌豆迎来了采收旺季。今年的价格怎样？销量如何？马上跟随记者的镜头到当地看一看。 走进云南宾川县鸡足山镇的这片豆田，藤蔓上挂满了豆荚，农户们正在采收，田间地头与收购点一片繁忙。 央视网消息：福建福州市罗源县是我国重要的海参养殖基地之一。这两天，当地养殖户们趁着晴朗天气与适宜水温，正在开展今年的投苗 工作。 陕西岚皋：魔芋迎集中采挖期 深加工产品产销两旺 在罗源县鉴江镇的码头上，记者看到，工人们正将一盘盘鲜活的海参苗从活水车上卸下，运抵海上养殖区，经过分拣的海参被分装至养殖 网箱，随后投放至海水中。这些海参苗是引进北方传统养殖区的优质苗种，进行 ...

Core Insights - Anqiu City in Shandong Province has developed into "China's No. 1 Vegetable Export County" over 30 years, transitioning from a local agricultural hub to a significant player in the global vegetable market [1][3]. Industry Overview - China is the world's largest vegetable producer and exporter, with Shandong Province accounting for nearly 40% of the country's agricultural export value, making it the largest vegetable-exporting province [2]. - Anqiu's agricultural exports have reached over 2 billion USD, with a growth rate of 30% in 2007 after overcoming a significant export crisis [10]. Historical Development - The first successful export of preserved vegetables from Anqiu occurred in 1993, marking the beginning of its journey into international markets [3][4]. - By 1996, Anqiu was exporting over 20 containers of green onions weekly, showcasing rapid growth in agricultural exports [6]. Challenges and Adaptations - Anqiu faced a severe export crisis around 2006 due to new stringent food safety regulations from the EU and Japan, which led to significant losses for local farmers [9][10]. - In response, Anqiu established a high-standard agricultural safety management system to meet international standards, which included forming a local agricultural product testing institution [10][12]. Current Status and Future Prospects - Anqiu has developed an international, high-standard testing and certification system, allowing it to participate in setting global vegetable trade standards [11][12]. - The city has seen a rise in young farmers who are adopting modern agricultural practices, including organic farming, which has led to increased demand and higher prices for organic vegetables [14][15].