深圳食博会爆 款！河源土特产 天团"食"力圈 粉！_南方+_南 方plus 10月22日至24 日，2025全球高 端食品及优质农 产品（深圳）博 (河源土特产天团，时长共1分09秒) 0:00 览会在深圳会展 中心（福田）举 行。本届食博会 展览规模达6万 平方米，汇聚了 全球30余个国家 和地区的特色展 团。作为连续三 年参展的"老面 孔"，河源展团 在深圳对口帮扶 协作河源指挥部 和河源市农业农 村局的共同组织 食博会无疑是河 源产品走出河 源、面向更广大 市场的大好机 会。这次他带来 的河源特色产品 紫金禅茶，不仅 下，集结81家企 业、297款生态 优品，亮相1号 馆T9C08展位， 凭借其独特的生 态底蕴与鲜明的 客家特色，为八 方来客献上了一 份诚意满满 的"河源好礼" 。 食博会河源展区人气旺盛，现场客商络绎不绝。 步入展区，畜 禽、丝苗米、山 茶油、茶叶、万 绿湖湖鲜五大特 色专区产品琳琅 满目，有序陈 列；河源米粉、 紫金蝉茶等经典 美食档口前站满 了品鉴的食客。 特别是河源特产 五指毛桃鸡，凭 借其融入草本清 香的鲜美口感， 引得众多食客交 口称赞，现场试 吃、购买者络绎 不绝，成为本届 ...

Core Insights - The article highlights the rich seafood resources of Shanwei, emphasizing its unique offerings and the upcoming participation in the 2025 Global High-end Food and Quality Agricultural Products Expo in Shenzhen [2][3][30]. Group 1: Seafood Resources - Shanwei boasts a coastline of 455 kilometers and a vast sea area of 23,900 square kilometers, making it a significant fishing ground in eastern Guangdong [13]. - The region's fisheries are abundant, featuring 14 categories, 107 families, and over 860 species of seafood, including fish, shrimp, crabs, shellfish, and algae [14]. - Notable seafood products include "Shanwei Sanxian" (Shanwei Three Delicacies) - sea bass, sea urchin, and Chen Zhou oysters, each with distinct flavors and culinary uses [15][18]. Group 2: Culinary Culture - Shanwei residents are skilled in transforming seafood into various delicacies, such as handmade fish balls and shrimp balls, preserving the freshness while adding new flavors [21]. - The local atmosphere is characterized by the scent of dried fish and shrimp, reflecting the unique coastal culture [22][24]. - The seafood journey in Shanwei continues from traditional fish markets to modern exhibitions, showcasing the region's commitment to quality seafood [26]. Group 3: Upcoming Event - The Shanwei exhibition team will participate in the Global High-end Food and Quality Agricultural Products Expo from October 22 to 24 at the Shenzhen Convention Center [30]. - The event aims to present fresh seafood products directly from the sea, including sea bass, sea urchin, and Chen Zhou oysters, highlighting the dedication and craftsmanship of Shanwei's seafood culture [27][28].

Core Insights - The article highlights the transformation of Dong'ao Village in Zhejiang Province into a model of shared prosperity through innovative local initiatives and the integration of tourism and agriculture [1][4]. Group 1: Economic Development - The sales revenue of local fishery and agricultural products reached 5 million yuan, with contracts signed with 7 farmers worth nearly 400,000 yuan [3]. - Dong'ao Village has become a popular tourist destination, attracting nearly 1 million visitors annually, with local accommodations fully booked during peak months [3][4]. - The local government has activated over 620 idle farmhouses for the hospitality industry, creating more than 7,000 beds and increasing average household income by 150,000 yuan annually [4]. Group 2: Community Initiatives - The "Fishing Family Chef Workshop" was established to support over 1,200 women in increasing their income through culinary services [4]. - A project called "Seven Villages United for Common Prosperity" was launched to connect seven fishing villages, enhancing resource sharing and community development [4]. Group 3: Infrastructure and Services - The region has improved healthcare access with a smart health station in Dongsha Village, allowing residents to monitor their health conveniently [5][8]. - Ongoing infrastructure projects include the construction of new ports and highways to enhance transportation and logistics, supporting local industries [7]. Group 4: Future Outlook - The income disparity between urban and rural residents in the area has been reduced to 1.49, with rural income ranking second among similar regions in Zhejiang Province [7]. - The local government aims to continue promoting harmonious development between urban and rural areas, leveraging marine resources for future growth [7].

Macro Strategy - The core viewpoint highlights the unprecedented removal of Federal Reserve Governor Cook by Trump, raising concerns about the independence of the Federal Reserve and the potential for more "Trump-aligned" appointees, which could lead to increased expectations for interest rate cuts in the future [1] - Following the removal announcement, market reactions included rising long-term U.S. Treasury yields and gold prices, while the U.S. dollar index declined, indicating a shift in investor sentiment towards risk assets [1] Fixed Income - The report indicates a cautious approach in the convertible bond market, suggesting a reduction in exposure to high-priced targets while increasing allocations to ETFs to balance risks [2][3] - The 10-year government bond yield increased from 1.745% to 1.785%, reflecting market adjustments to macroeconomic conditions [2] Industry Insights - New Lai Ying Material (300260) reported improved Q2 performance, benefiting from growth in the semiconductor and liquid cooling sectors, with a focus on domestic substitution and an optimized customer structure [5][6] - Li Yuan Heng (688499) achieved profitability with a robust order backlog in solid-state battery equipment, indicating a strong operational cash flow and successful delivery to major clients [7] - Jin Zai Food (003000) is experiencing a Q2 adjustment period, leading to a downward revision of profit forecasts for 2025-2027, reflecting a mismatch between internal expansion strategies and external market conditions [8][9] - Anpei Long (301413) reported steady growth in its temperature and pressure sensor business while investing in humanoid robotics, adjusting profit forecasts for 2025-2026 [10] - Xinde New Materials (301349) is seeing significant growth in fast-charging products, with profit forecasts adjusted upwards due to improved margins [11] - The report on China National Railway (601766) indicates strong growth in H1 2025, driven by recovery in railway fixed asset investments [18] - The report on China Duty Free Group (601888) highlights a narrowing revenue decline in Q2 2025, with a focus on expanding city store operations to boost sales [31] - Yun Aluminum (000807) reported a 17.98% increase in revenue for H1 2025, with a focus on maintaining high profit margins amid fluctuating aluminum prices [32][33]

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company is experiencing a period of adjustment in Q2 2025, with internal expansion strategies misaligned with external weak market conditions [7] - Revenue for Q2 2025 is under pressure due to weak external demand, particularly in traditional retail channels [7] - The company has adjusted its profit forecasts for 2025-2027, expecting net profits of 2.4 billion, 3.5 billion, and 3.9 billion respectively, reflecting a decrease of 19% in 2025 [7] Financial Performance Summary - Total revenue for 2023 is projected at 2,065 million, with a year-on-year growth of 41.26% [1] - The net profit attributable to the parent company for 2023 is estimated at 209.58 million, with a year-on-year increase of 68.17% [1] - The latest diluted EPS for 2023 is expected to be 0.46 yuan per share [1] - The company’s gross margin for Q2 2025 is reported at 28.9%, a decrease of 1.8 percentage points year-on-year [7] - The net profit margin for Q2 2025 is 8.4%, down 3.5 percentage points year-on-year [7] Revenue Breakdown - For H1 2025, revenue from fish products, bean products, poultry products, and vegetable products is 7.6 billion, 1.1 billion, 2.0 billion, and 0.3 billion respectively, with year-on-year growth rates of +7.6%, +3.6%, -24.0%, and -10.7% [7] - Online channels generated 1.9 billion in revenue for H1 2025, a decline of 6.8% year-on-year, while offline channels achieved 9.4 billion, a slight increase of 0.9% [7] Strategic Outlook - The company is in a phase of internal adjustment and is focusing on the promotion of new products, such as konjac-based items [7] - The mismatch between the company's long-term expansion strategy and the current weak external environment is highlighted as a key concern [7]

Core Viewpoint - The opening of the fishing season at Jianghong Fishing Port marks a significant event for the local marine industry and tourism, showcasing the integration of cultural and economic activities in the region [2][3][6]. Group 1: Fishing Season Opening - The fishing season officially opened on August 16 at Jianghong Fishing Port, with numerous fishing boats setting sail [2][3]. - The event attracted over 600 tourists from Guangzhou, highlighting the local fishing culture and the excitement of the season [17]. Group 2: Cultural and Tourism Activities - The "Media+" initiative aims to strengthen the marine industry and promote the "Hundred Million Project" through a series of cultural and tourism activities [5][6]. - The opening ceremony featured local seafood delicacies, including "Jiang Eight Fresh" which consists of various types of fish and shellfish, enhancing the culinary appeal of the region [14]. Group 3: Market Dynamics - The Tian Guang Fish Market saw a bustling crowd as fresh catches arrived, indicating strong demand from both local and external buyers [20][23]. - Cold chain logistics were actively engaged in transporting fresh seafood to various destinations, reflecting the operational efficiency of the supply chain [28]. Group 4: Integrated Activities - The Fishing Season Cultural Week includes diverse activities such as seafood exhibitions, food streets, music events, and beach sports, aiming to create a comprehensive tourism experience [32][49]. - The event is designed to convert short-term interest into sustained visitor flow, promoting long-term economic benefits for the region [34]. Group 5: Scenic Attractions - Jianghong boasts a 22-kilometer coastline with attractions like Xianqu Island and Xiaokou Beach, which draw visitors even during the off-season [55][56]. - The natural beauty of the area, including picturesque sunsets and serene beach environments, enhances its appeal as a tourist destination [65].

Core Viewpoint - The event marks the opening of the fishing season in Jianghong, Suixi County, which is part of a broader initiative to promote rural revitalization through the "Media+" model, enhancing the local marine economy and tourism industry [9][20]. Group 1: Event Overview - The fishing season officially opened at Jianghong Fishing Port after a three-and-a-half-month break, with fishing boats setting sail towards the Beibu Gulf [4][5]. - The opening ceremony was part of the "Media+ Empowerment" initiative, aimed at integrating media with rural revitalization efforts [6][9]. - The event featured various cultural performances and activities, creating a festive atmosphere [14][16]. Group 2: Economic Impact - The event is expected to boost local tourism and the marine economy, with significant participation from tourists and local businesses [30][36]. - Last year's fishing season attracted 80,000 visitors, with the first day of the fishing festival recording over 1,200 tons of fish traded, generating more than 20 million yuan in revenue, a 20% increase year-on-year [50][52]. - The Jianghong Fishing Port is a major distribution center, handling nearly 100,000 tons of fish annually, accounting for over 80% of the county's fishery transaction volume [74][76]. Group 3: Media and Marketing Strategy - The event utilized various media platforms, including live streaming and social media, to engage audiences, resulting in nearly 3 million views during the live broadcasts [28][30]. - The "Media+" approach aims to enhance brand awareness for local seafood products and promote the Jianghong fishing culture [34][36]. - The integration of agriculture, tourism, and culture through innovative marketing strategies is designed to convert visitor interest into economic growth [39][41]. Group 4: Future Prospects - The local government plans to further integrate traditional fishing activities with brand promotion and rural revitalization, aiming to attract more tourists and investments [24][26]. - The initiative is part of a larger plan to develop a sustainable fishing and cultural tourism brand, enhancing the region's appeal [22][24].