转自：贵州日报 风光秀美的花溪湖公园。 回望来路，"秀美花溪"在发展中披荆斩棘、砥砺前行，尽显坚韧勇毅，亦曾乘风破浪、直挂云帆，书写 浩荡豪迈。 A 产业为要 经济发展动能更强 近日，记者在位于花溪区燕楼镇数字农业产业园的贵州品品鲜生物科技有限公司采收车间看到，身着统 一工装的工作人员正熟练地将新成熟的鹿茸菇快速分装、整齐打包。随后，一批批菌菇产品装车启程， 发往各地市场。 2024年底，花溪区品品鲜食用菌生产项目落地投产。经过一年的发展，品品鲜利用数字技术重塑种植模 式，成为全省数字化程度最高的食用菌生产基地，让菌菇生长从"靠天吃饭"转向"云端智控"，为乡村振 兴注入强劲动能。 产业强则经济强，产业兴则百业兴。在刚刚过去的2025年，花溪区坚持产业为要，经济发展动能更强。 这一年，工业项目加速落地：表面产业园（二期）、格智刺梨等6个项目建成投产，总投资12亿元的泰 邦生物血液制品生产基地迅速开工，花溪经开区成为全市首家可提供集中供热的开发区。 这一年，现代农业提质增效："花溪辣椒"亮相央视《寻味山海》，农林牧渔业总产值增速稳居全市前 列。 这一路，花溪经济发展交出亮眼答卷：地区生产总值从2020年的637亿 ...

华绿生物（300970.SZ）1月8日在投资者互动平台表示，公司年报将于4月份披露，请关注公司届时披露 的定期报告。 每经AI快讯，有投资者在投资者互动平台提问：鸿升生物（874793）主导培育国内首个通过省级鉴定 的鹿茸菇品种"中菌鹿茸菇1号"，日产菌菇120吨，2024年营收2.7亿元，净利润6738.54万元，财报显示 毛利率达到40%，计划推进北交所上市。华绿生物目前日产鹿茸菇100吨，仍处于产量爬坡阶段，预计 满产能达到多少量？毛利率是否能达到同等水平或超越？公司鹿茸菇技术又有哪些亮点？ （文章来源：每日经济新闻） ...

证券日报网讯 1月7日，华绿生物在互动平台回答投资者提问时表示，公司鹿茸菇日产约为100吨，未达 满产，部分鹿茸菇工厂尚处于扩建状态。 （文章来源：证券日报） ...

此外，8家单位带来优质项目路演，涵盖技术研发、品种创新、模式创新、品牌运营等多个维 度。"希望通过路演，搭建一个高效的'科—企—政—金'对接平台。"上海市农业科学院副院长沈晓晖表 示。 5日，上海·崇明长三角农业硅谷食药用菌全产业链成果路演举行，中国工程院院士陈坚参会并作主 旨报告。50余名来自长三角地区科研院校的专家学者、农业科技企业代表齐聚一堂，共话食药用菌最新 科研成果，共谋食药用菌产业发展路径。 活动达成一系列合作意向。国家食用菌工程技术研究中心崇明工作站揭牌，未来将重点聚焦技术研 发、成果转化等核心环节，为区域产业提供专业化技术支撑。银行、科研院所、农业科技企业等分别签 约，逐步构建"科研+生产+市场"的完整协同链条。 食药用菌具有可循环、高蛋白、见效快、产出高的鲜明特点。崇明区优越的生态资源为其生长提供 了天然沃土，总体形成了生态优势突出、特色品种鲜明、发展基础扎实的良好格局。据统计，2025年该 区食用菌（鲜菇）总产量达200余吨，总产值超1000万元，灵芝、羊肚菌、大球盖菇等优势品种多点开 花。 随着长三角农业硅谷建设稳步推进，崇明区明确将食药用菌产业纳入未来重点发展的特色板块之 一，持续强化 ...

中信证券研报称，随着食用菌产能去化兑现到供给端，叠加蔬菜季节性涨价拉动，食用菌主要品类价格 均显著上升，我们预计主要食用菌品类景气度有望延续。此外，未来行业潜力品种如双孢菇、鹿茸菇、 冬虫夏草等规模和盈利趋势预计稳中向好。建议关注两条投资主线：1）在传统品类金针菇等领域产能 布局领先，有望充分受益周期上行的龙头企业；2）新品类开拓成效显著，拥有先发优势，未来有望成 为重要增长曲线的企业。 ...

证券日报网讯 12月5日，华绿生物在互动平台回答投资者提问时表示，关于鹿茸菇的相关信息，公司披 露的相关定期报告及临时公告均有介绍。 （文章来源：证券日报） ...

Core Insights - JD's discount supermarket opened its first store in Anhui, attracting significant consumer interest and setting a new sales record for single-day supermarket openings in the region [1][16] - The store's core philosophy is "Everyday Low Prices, Just Pay for Value," leveraging JD's strong supply chain capabilities to offer competitive pricing [1][10] Customer Engagement - Long queues formed before the store opened, indicating high consumer anticipation, and the store experienced peak customer traffic immediately after opening [3] - The vibrant atmosphere and high foot traffic demonstrated JD's strong brand appeal and market attraction [3] Sales Performance - Key products sold out quickly, including over 38,000 fresh eggs, showcasing consumer demand for high-quality goods [5] - The meat section was particularly popular, with nearly 1,000 pounds of various pork cuts sold, reflecting JD's competitive pricing and supply chain efficiency [8] Supply Chain and Pricing Strategy - The store utilizes a self-built warehouse of 14,000 square meters to ensure efficient replenishment and fresh product availability within a 25-kilometer radius [10] - By adopting a "direct sourcing + factory supply" model, JD reduces intermediary costs, translating to tangible price advantages for consumers [10] Product Range and Local Integration - JD's private label products performed exceptionally well, with top-selling items including affordable noodles and snacks, reinforcing the brand's commitment to quality at low prices [12] - The store also incorporated local specialties, enhancing emotional connection with local consumers and improving customer satisfaction [14] Future Expansion Plans - Following the successful launch in Anhui, JD plans to expand its discount supermarket model to more cities, aiming to drive regional consumption upgrades and healthy retail ecosystem development [16]

Investment Rating - The report initiates coverage with a "Buy" rating for Wancheng Group [3][5]. Core Insights - Wancheng Group has transformed from a leading edible mushroom producer to a high-growth player in the snack retail sector, achieving significant revenue growth in its new business line [1][12]. - The company has successfully integrated multiple snack brands and expanded its store network, with a target of 15,365 stores by mid-2025, contributing to a substantial increase in revenue and profit margins [1][13]. - The financial outlook is optimistic, with projected revenue growth rates of 56.0%, 14.9%, and 9.4% for 2025, 2026, and 2027, respectively, alongside a significant increase in net profit [3][4]. Summary by Sections Development History - Established in 2011, Wancheng Group focused on edible mushrooms, becoming a key player in the agricultural sector by 2020, with mushroom revenue reaching 540 million yuan in 2024 [1][12]. - In 2022, the company entered the snack retail market, rapidly expanding through acquisitions and establishing a robust store network [1][13]. Shareholding Structure - The controlling shareholder, Wang Zeneng, holds 34.4% of the company, guiding the expansion of the snack business through strategic acquisitions and incentivizing management with equity plans [2][41]. - The company has been consolidating its snack brands under a unified operational structure to enhance efficiency and profitability [2][44]. Stock Price Trends - Since July 2024, Wancheng Group's stock price has increased over eightfold, driven by improved profit margins and the recovery of minority shareholder interests [3][25]. - The company is expected to continue benefiting from its new store formats and operational efficiencies, which are anticipated to further enhance its market valuation [3][19]. Financial Forecast - Revenue is projected to grow significantly, with estimates of 50.4 billion yuan in 2025, 57.9 billion yuan in 2026, and 63.4 billion yuan in 2027, reflecting a compound annual growth rate (CAGR) of 56.0% [4][5]. - Net profit is expected to rise dramatically, reaching 1.29 billion yuan in 2025, 1.98 billion yuan in 2026, and 2.54 billion yuan in 2027, indicating a strong recovery and growth trajectory [4][5].

Core Viewpoint - The implementation of benchmarking against world-class enterprises is a crucial measure for advancing state-owned enterprise (SOE) reform and enhancing efficiency and development [1][3] Group 1: Benchmarking Implementation - The benchmarking initiative aims to address the disparity in performance among SOEs, as many exhibit strong asset totals and revenue but lack competitive profitability compared to industry leaders [3][4] - Water Development Group has established a "2+2+2" operational management benchmarking system, focusing on internal and external benchmarking to enhance performance in various sectors such as water supply, wastewater treatment, and renewable energy [2][5] Group 2: Challenges in Benchmarking - A common issue faced by SOEs is the difficulty in finding comparable external benchmarks due to differing development stages and operational contexts, leading to ineffective benchmarking practices [4][5] - Previous benchmarking efforts often focused on external comparisons, which did not yield actionable insights due to the unique circumstances of each enterprise [4][5] Group 3: Benchmarking System Features - The "2+2+2" system includes two levels of benchmarking (secondary companies and project companies), supported by standardized operational management and demonstration facilities [5][8] - The internal benchmarking indicators include return on net assets, income profit margin, gross profit margin, and direct operating costs, evaluated dynamically to encourage continuous improvement [8][9] Group 4: Performance Improvements - Water Development Group reported significant reductions in operational costs across various sectors, with specific decreases in unit costs for water supply, heating, and renewable energy [12][14] - The profitability of Water Development Group's subsidiaries has improved, with notable increases in profit and cash flow, indicating the effectiveness of the benchmarking system [14][15] Group 5: Future Directions - The company plans to maintain a focus on internal benchmarking while enhancing the conversion of external benchmarking experiences into actionable strategies for continuous improvement [16]

Core Viewpoint - The recent appointment of Liu Peng, a former Alibaba executive, as the new president of Sam's Club China has sparked significant backlash from members due to changes in the app's product display, which many perceive as adopting an "Alibaba flavor" [1][19][27] Group 1: Leadership Changes - Liu Peng is the first Chinese national to hold the position of president for Sam's Club China, reporting directly to Walmart China's CEO [1][19] - His appointment coincided with a controversial redesign of the Sam's Club app, leading to member dissatisfaction [1][19] Group 2: App Redesign and Member Reactions - The app's product images have been altered to include more promotional content and stylized presentations, moving away from the previous simple white-background images [3][5][10] - Members expressed confusion and frustration over the new design, which they feel complicates the shopping experience and increases selection time [5][10][13] - The redesign has been criticized for resembling tactics commonly used by e-commerce platforms, leading to concerns about transparency and product information [10][18][19] Group 3: Business Strategy and Market Position - Sam's Club is undergoing a digital transformation, with a focus on enhancing member experience and operational efficiency, as indicated by Liu Peng's background in e-commerce [19][21] - Walmart China reported a significant increase in net sales, with Sam's Club's transaction volume growing at a double-digit rate, highlighting the importance of maintaining member satisfaction [18][19] - The company aims to balance its traditional membership model with evolving digital strategies to retain its core customer base [19][27]