Group 1 - The National Development and Reform Commission emphasizes the need to enhance the synergy between reform and consumption investment policies, focusing on easing access and optimizing regulation in the consumption sector [1] - Wanlian Securities notes that the dairy product costs are stabilizing and demand is recovering, with low-temperature and deep-processed dairy products experiencing healthy growth [1] - The condiment industry is seeing customized development driven by chain restaurants and strong terminal growth, while raw material costs are stabilizing at low absolute price levels, supporting profit release [1] - The frozen food sector is witnessing a slowdown in price wars, leading to profit recovery and a return to positive growth [1] - The beverage sector is experiencing "structural upgrades" that contribute to incremental growth, particularly in the functional beverage segment, which is considered a high-growth area [1] - The snack industry is facing "increased revenue without increased profit," with platform-type and health-focused single-product companies being worthy of attention [1] - By 2026, leading volume retailers are expected to continue improving profitability, while the profitability of snack companies will need to be monitored based on raw material costs, efficiency optimization, sustainability of major products, and category expansion capabilities [1] Group 2 - As of January 20, 2026, the CSI All Food Index (H30192) has increased by 0.07%, with notable stock performances including Hongmian Co. up 10.13% and Bailong Chuangyuan up 5.46% [2] - The Penghua Food ETF (560130) has risen by 0.20%, currently priced at 1.01 yuan, closely tracking the CSI All Food Index [2] - The CSI All Food Index is structured to reflect the overall performance of different industry companies within its sample, categorized into 11 primary industries, 35 secondary industries, over 90 tertiary industries, and more than 200 quaternary industries [2] - As of December 31, 2025, the top ten weighted stocks in the CSI All Food Index include Haitian Flavoring, Yili, Shuanghui Development, and Angel Yeast, collectively accounting for 49.88% of the index [2]

Group 1 - The agricultural processing sector increased by 0.82% on January 14, with Morning Light Biological leading the gains [1] - The Shanghai Composite Index closed at 4126.09, down 0.31%, while the Shenzhen Component Index closed at 14248.6, up 0.56% [1] - Key stocks in the agricultural processing sector showed varied performance, with Morning Light Biological rising by 5.67% to a closing price of 13.78 [1] Group 2 - The agricultural processing sector saw a net inflow of 260.95 million yuan from main funds, while retail investors experienced a net outflow of 8899.4 million yuan [2] - Major stocks like Jinlongyu and Zhongliang Sugar Industry had significant net inflows from main funds, amounting to 5739.86 million yuan and 5559.22 million yuan respectively [3] - Morning Light Biological had a notable retail net outflow of 8899.58 million yuan, despite a positive performance in main fund inflow [3]

中粮糖业控股股份有限公司董事会 2026年1月14日 陈松阳，男，汉族，1978年出生，中共党员，毕业于中国政法大学法律系法学专业。曾任国家工商行政 管理总局科员、主任科员，国务院办公厅秘书二局副处长、处长。2022年10月加入公司，担任总法律顾 问；现任公司工会主席、副总经理兼总法律顾问。截至本公告披露日未持有公司股份。 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个别及连带责任。 根据《中华人民共和国公司法》《上市公司章程指引》等法律法规、规范性文件及《公司章程》相关规 定，中粮糖业控股股份有限公司（以下简称公司）于2026年1月12日召开第二届第五次职工代表大会。 经与会职工代表审议通过，选举陈松阳先生为公司董事会职工董事（简历详见附件），与公司股东会选 举产生的8名董事共同组成公司第十届董事会，任期自本次职工代表大会选举之日起至公司第十届董事 会任期届满之日止。 陈松阳先生担任公司职工董事后，公司第十届董事会中兼任高级管理人员职务以及由职工代表担任的董 事人数未超过公司董事总数的二分之一，符合相关法律法规的要求。 特此公告。 ...

证券日报网讯 1月13日，中粮糖业发布公告称，公司于2026年1月12日召开第二届第五次职工代表大 会，经与会职工代表审议通过，选举陈松阳先生为公司董事会职工董事，与公司股东会选举产生的 8 名 董事共同组成公司第十届董事会，任期自本次职工代表大会选举之日起至公司第十届董事会任期届满之 日止。 （编辑 王雪儿） ...

格隆汇1月13日丨中粮糖业(600737.SH)公布，根据《中华人民共和国公司法》《上市公司章程指引》等 法律法规、规范性文件及《公司章程》相关规定，中粮糖业控股股份有限公司于 2026 年 1 月 12 日召开 第二届第五次职工代表大会。经与会职工代表审议通过，选举陈松阳先生为公司董事会职工董事，与公 司股东会选举产生的 8 名董事共同组成公司第十届董事会，任期自本次职工代表大会选举之日起至公司 第十届董事会任期届满之日止。 ...

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个别及连带责任。 证券代码：600737 证券简称：中粮糖业 公告编号：2026-001 中粮糖业控股股份有限公司 关于选举职工董事的公告 根据《中华人民共和国公司法》《上市公司章程指引》等法律法规、规范性 文件及《公司章程》相关规定，中粮糖业控股股份有限公司（以下简称公司）于 2026 年 1 月 12 日召开第二届第五次职工代表大会。经与会职工代表审议通过， 选举陈松阳先生为公司董事会职工董事（简历详见附件），与公司股东会选举产 生的 8 名董事共同组成公司第十届董事会，任期自本次职工代表大会选举之日起 至公司第十届董事会任期届满之日止。 陈松阳先生担任公司职工董事后，公司第十届董事会中兼任高级管理人员职 务以及由职工代表担任的董事人数未超过公司董事总数的二分之一，符合相关法 律法规的要求。 特此公告。 中粮糖业控股股份有限公司董事会 2026 年 1 月 14 日 附件：陈松阳先生简历 陈松阳，男，汉族，1978 年出生，中共党员，毕业于中国政法大学法律系 法学专业。曾任国家工商行政管 ...

格隆汇1月13日丨中粮糖业(600737.SH)公布，根据《中华人民共和国公司法》《上市公司章程指引》等 法律法规、规范性文件及《公司章程》相关规定，中粮糖业控股股份有限公司于 2026 年 1 月 12 日召开 第二届第五次职工代表大会。经与会职工代表审议通过，选举陈松阳先生为公司董事会职工董事，与公 司股东会选举产生的 8 名董事共同组成公司第十届董事会，任期自本次职工代表大会选举之日起至公司 第十届董事会任期届满之日止。 ...

Investment Rating - The report suggests focusing on investment opportunities in the processed tomato sauce export recovery trend, with potential performance improvement for export-oriented companies like Guannong Co. and COFCO Sugar [5]. Core Insights - The global processed tomato production is highly concentrated in three major regions in the Northern Hemisphere, with China, the United States, and the Mediterranean region accounting for approximately 74% of global capacity [2][19]. - China is the largest exporter of tomato sauce globally, with exports accounting for about one-third of the total, and in the 2024/2025 crop year, the export volume is projected to be around 3.9 million tons [3][46]. - The industry is currently at a deep cyclical low, with a significant oversupply due to high planting areas from 2022 to 2024, leading to low prices and overall industry losses [4][60]. - A recovery in the industry is anticipated, with a shift towards "stock integration" and "value enhancement" in the medium to long term, driven by a substantial reduction in supply and resilient demand in both domestic and overseas markets [4][60]. Summary by Sections 1. Global Processed Tomato Market - China is a key player in the processed tomato industry, with a complete supply chain established for processed tomatoes, including upstream breeding and planting, midstream processing, and downstream consumption [14][19]. - The demand for tomato products is driven by three main forces: the rise of fast food chains, standardization in the food industry, and health consumption trends [27][28]. 2. Current Market Changes - The supply side is expected to face significant reductions in 2025, with China's planting area projected to drop by 37.5% to less than 1 million acres, leading to a forecasted production decline to below 5 million tons [4][63]. - Despite challenges in exports, both domestic and international demand remain resilient, with the processed tomato industry being heavily export-oriented, where approximately 80% of production is for export [67][78]. 3. Price Trends - Short-term price recovery is expected, with a shift from volatile price fluctuations to a more stable price environment post-recovery [4][60]. - The average export price of large-packaged tomato sauce (over 5kg) is generally lower than that of small-packaged products (5kg or less), but recent trends have shown price inversions due to global supply chain disruptions [51][56].

Market Overview - The agricultural processing sector experienced a decline of 0.73% on January 7, with Jingliang Holdings leading the drop [1] - The Shanghai Composite Index closed at 4085.77, up 0.05%, while the Shenzhen Component Index closed at 14030.56, up 0.06% [1] Stock Performance - Notable gainers in the agricultural processing sector included: - *ST Jiawo: Closed at 13.85, up 3.28% with a trading volume of 36,100 shares and a turnover of 49.10 million yuan [1] - Guanyin Co.: Closed at 9.64, up 1.58% with a trading volume of 158,800 shares and a turnover of 154 million yuan [1] - Major decliners included: - Jingliang Holdings: Closed at 7.75, down 2.88% with a trading volume of 469,800 shares and a turnover of 367 million yuan [2] - Guotou Zhonglu: Closed at 20.71, down 2.03% with a trading volume of 75,500 shares and a turnover of 157 million yuan [2] Capital Flow - The agricultural processing sector saw a net outflow of 182 million yuan from institutional investors, while retail investors contributed a net inflow of 127 million yuan [2] - The sector's capital flow indicates a mixed sentiment, with institutional investors withdrawing funds while retail investors increased their positions [2] Individual Stock Capital Flow - Guanyin Co. had a net inflow of 14.21 million yuan from institutional investors, but a net outflow of 3.99 million yuan from speculative funds [3] - *ST Jiawo experienced a net inflow of 3.71 million yuan from institutional investors, while speculative funds saw a net outflow of 4.32 million yuan [3] - Other notable stocks included: - Deep Grain Holdings with a net inflow of 0.89 million yuan from institutional investors [3] - Guangnong Sugar Industry with a net inflow of 0.88 million yuan from speculative funds [3]

| 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 920023 | 田野股份 | 4.88 | -5.24% | 46.50万 | 2.30 Z | | 600191 | 一百姓的 | 12.91 | -3.15% | 17.86万 | 2.29亿 | | 002481 | 双塔食品 | 5.15 | -1.90% | 20.40万 | 1.05亿 | | 000911 | 广农糖业 | 7.44 | -1.72% | - 4.89万 | 3636.95万 | | 920273 | 一致魔手 | 32.90 | -1.64% | 1.53万 | 5044.27万 | | 000972 | *ST中基 | 3.80 | -1.55% | 5.34万 | 2030.97万 | | 920371 | 欧福蛋业 | 10.67 | -1.48% | 1.73万 | 1856.61万 | | 600127 | 金健米业 | 6.82 | -1.45% | 16.09万 | 1.10亿 | | 300138 ...