Group 1: Investor Relations Activities - The company conducted investor relations activities including specific object research and performance briefings from May 7 to May 8, 2025 [3] - Participants included various securities and asset management firms, with key company representatives present [3] Group 2: Sales and Market Strategy - The company is optimizing its e-commerce operations but cannot disclose specific sales growth rates due to lack of data from platforms [4] - The company plans to enhance marketing efforts for its sub-brand, 康食季, to improve product visibility [5] - There are no current plans to expand overseas sales channels, but the company is focusing on building a physical sales network [6] Group 3: Product Development and Innovation - The company is exploring the development of non-sport beverages and plans to launch a new sports drink, focusing on taste and packaging improvements [6] - The company has signed military supply orders for 2024, which will be executed in 2025, with military products accounting for approximately 10% of revenue [8] - The company is investing 100 million yuan in expanding its production capacity for sports nutrition products [9] Group 4: Financial Performance and Management - Accounts receivable increased due to military sales, while inventory rose to ensure business continuity [10] - The company aims to enhance gross margins through technological innovation and supply chain optimization [11] - The company has 198 authorized patents, with significant advancements in product development, including a new high-quality protein product [20] Group 5: Social Responsibility and Community Engagement - The company launched the "Public Energy Rabbit" initiative to support runners in marathons, participating in nearly 470 events in 2024 [14] - Future plans include expanding social responsibility projects and promoting sports nutrition knowledge in communities [15] Group 6: Market Trends and Regulatory Environment - The health and sports nutrition industry is experiencing growth due to government policies promoting health consumption and sports participation [21] - The company plans to establish four product project teams targeting protein supplementation, energy products, weight control, and professional sports markets [22] Group 7: Profitability and Operational Efficiency - The company is focused on high-quality operations, with improved inventory turnover from 2.34 in 2022 to 3.02 in 2024 [23] - The accounts receivable turnover increased from 9.5 in 2022 to 14.84 in 2024, indicating enhanced operational efficiency [23]

Investment Rating - The report maintains an "Outperform" rating for the North Exchange market [5] Core Insights - The North Exchange has entered the "920 era," marking the emergence of the first ST companies [1] - The North Exchange's total number of listed companies is 265, with a total market capitalization of 737.724 billion and a circulating market capitalization of 441.839 billion, reflecting a quarter-on-quarter increase of 5.2% and 4.3% respectively [1][11] - The North Exchange 50 Index experienced a significant rebound, ending the month with a 4.72% increase, while other major indices declined [2][30] - The report highlights that 16 out of 22 industries on the North Exchange saw gains, with notable increases in beauty care, transportation, food and beverage, textiles, and agriculture, with median increases exceeding 15% [2][35] Market Overview - The North Exchange's trading volume for April was 30.945 billion shares, with a total transaction value of 630.962 billion, representing a quarter-on-quarter decrease of 14.4% and 20.2% respectively [1][17] - The average daily margin balance for April reached 5.262 billion, remaining at a historically high level [22] - As of April 30, the North Exchange 50 Index's price-to-earnings ratio (PE-TTM) was 45.31, placing it in the 99.79th percentile over the past two years [24][27] Industry Performance - The highest median price-to-earnings ratios by industry were recorded in the computer sector at 111, followed by telecommunications at 110, construction materials at 91, light industry manufacturing at 74, and social services at 72 [24][27] - The report indicates that 23 stocks reached historical highs in price during the month, with Huaguang Yuanhai achieving a remarkable 65.42% increase [2][39] Company Announcements - In April 2025, 232 companies on the North Exchange released their annual reports, with Jinbo Biological reporting the highest earnings per share at 8.27 yuan [3][12] - The report notes that there were no new listings in April, but one new stock, Tiangong Co., was issued [3][11] Policy and Important Events - The North Exchange introduced several policies in April 2025 related to refinancing, trading management, broker performance evaluation, and delisting supervision, marking a strategic move towards market independence and specialization [3][14]

Group 1: Investor Relations Activities - The company conducted investor relations activities from April 24 to April 28, 2025, at the company meeting room and online [3] - Participating institutions included various securities and asset management firms, totaling over 30 attendees [4] Group 2: Company Products and Competitive Advantage - The main customers for the company's digital sports technology products are training bases, sports schools, vocational colleges, and universities [4] - The company leverages its long-term experience in sports nutrition technology to provide personalized solutions, establishing a strong competitive edge [4] Group 3: Raw Material Costs and Management - The company faces cyclical increases in protein powder raw material costs but has strategies to mitigate risks, including long-term supplier relationships and diversified sourcing [5] - The company actively monitors market dynamics to adjust procurement strategies and negotiate better pricing with suppliers [5] Group 4: Product Development and Innovation - The company has weight control products, including L-carnitine and protein bars, and plans to innovate further in this area [6] - A comprehensive market research methodology supports product development, focusing on consumer needs and product trials [8] Group 5: Sales Strategy - The company currently sells protein products primarily online but is increasing investments in offline sales to enhance consumer interaction and experience [10] Group 6: Intellectual Property and R&D - As of the end of 2024, the company holds 198 authorized patents, including 103 invention patents, contributing to a high technical barrier [11] - Recent innovations include a new high-quality protein formula and optimized energy gel products, enhancing competitive differentiation [11] Group 7: Shareholder Returns and Incentives - The company completed a share buyback on March 25, 2025, for employee stock ownership plans or equity incentives [12] - For 2024, the company plans to distribute a cash dividend of 2.5 yuan for every 10 shares to shareholders [13] Group 8: Future Business Strategy - The company aims to enhance brand building, innovation, talent development, and digital strategies while focusing on high-quality positioning and consumer insights [14]

Investment Rating - The report assigns a "Buy" rating for the company, indicating an expected stock performance that will exceed the market index by more than 15% within the next six months [5]. Core Insights - The company, Kangbiter (833429.BJ), reported a significant increase in sales of protein muscle gain products, with a 2024 revenue of 1.04 billion yuan, representing a year-on-year growth of 23.34%. The net profit attributable to shareholders was 89 million yuan, up 1.38% year-on-year [3][4]. - In Q1 2025, the company achieved a revenue of 194 million yuan, a year-on-year increase of 26.08%, with a net profit of 12 million yuan, reflecting a 9.66% growth compared to the same period last year [3]. - The company’s core products, including whey protein and energy gels, have seen substantial sales growth, with protein muscle gain products revenue reaching 529 million yuan in 2024, a 72.64% increase year-on-year [3][4]. Financial Summary - For 2024, the total revenue is projected at 1.04 billion yuan, with a net profit of 89 million yuan. The earnings per share (EPS) for 2025 and 2026 are estimated to be 0.89 yuan and 1.19 yuan, respectively, with corresponding price-to-earnings (PE) ratios of 26 and 19 [4]. - The company’s gross margin for Q1 2025 was 38.64%, showing a year-on-year decline of 9.03 percentage points, while the net profit margin was 6.21%, down 0.94 percentage points year-on-year [3].

Investment Rating - The investment rating for the company is "Buy" (maintained) [3][5] Core Views - The company reported a revenue of 1.94 billion yuan in Q1 2025, representing a year-on-year increase of 26% and a net profit attributable to shareholders of 12.04 million yuan, up 10% year-on-year [5] - The company is focusing on high-end, differentiated competition, leveraging its brand, technology research and development, and sales channel advantages [5] - The company expects net profits for 2025-2027 to be 1.23 billion, 1.42 billion, and 1.83 billion yuan respectively, with corresponding EPS of 0.99, 1.14, and 1.47 yuan per share, indicating a positive outlook for its energy gel and whey protein products [5] Financial Summary - In 2024, the company achieved a revenue of 1.04 billion yuan, a year-on-year growth of 23.34%, and a net profit of 89.31 million yuan, a growth of 1.38% [5] - The gross margin for 2024 was 39.41%, a decrease of 0.69 percentage points from 2023 [5] - The company’s revenue is projected to grow from 1.33 billion yuan in 2025 to 1.92 billion yuan in 2027, with corresponding net profits increasing from 123 million yuan to 183 million yuan [9] Product Innovation and Market Expansion - The company launched a higher quality CPT pro specialized nutrition whey protein in 2024, leading to a 72.64% increase in revenue from protein muscle gain products [6] - The company developed a new 7-layer energy gel, achieving a revenue of 38.79 million yuan in 2024, a year-on-year increase of 48.64% [6] - The company collaborated with nearly 470 events, including marathons and trail races, in 2024, enhancing brand exposure and market influence [7]

Investment Rating - The investment rating for the company is "Buy" (maintained) [3][5] Core Views - The company reported a revenue of 1.94 billion yuan in Q1 2025, representing a year-on-year increase of 26% and a net profit attributable to shareholders of 12.04 million yuan, up 10% year-on-year [5] - The company is focusing on high-end, differentiated competition, leveraging its brand, technology research and development, and sales channel advantages [5] - The company expects net profits for 2025-2027 to be 1.23 billion, 1.42 billion, and 1.83 billion yuan respectively, with corresponding EPS of 0.99, 1.14, and 1.47 yuan per share, indicating a positive outlook for its energy gel and whey protein products [5] Financial Summary - In 2024, the company achieved a revenue of 1.04 billion yuan, a year-on-year growth of 23.34%, and a net profit of 89.31 million yuan, a growth of 1.38% [5][9] - The gross margin for 2024 was 39.41%, a decrease of 0.69 percentage points from 2023 [5] - The company’s revenue is projected to grow from 1.33 billion yuan in 2025 to 1.92 billion yuan in 2027, with corresponding net profits increasing from 123 million yuan to 183 million yuan [9] Product Innovation and Market Expansion - The company launched a higher quality CPT pro specialized nutrition whey protein in 2024, leading to a 72.64% increase in revenue from protein muscle gain products [6] - The company developed a new 7-layer energy gel and established core patents for high branched cyclic dextrin combinations, resulting in a 48.64% increase in energy gel revenue [6] - The company collaborated with nearly 470 events, including marathons and trail races, in 2024, enhancing brand exposure and market influence [7]

Investment Rating - The report maintains an "Outperform" rating for the company [2][10]. Core Insights - The company reported a total revenue of 1.04 billion yuan in 2024, representing a year-on-year growth of 23.3%, and a net profit attributable to shareholders of 89 million yuan, with a growth of 1.4% [7]. - The company has a strong market position in the sports nutrition sector, with significant growth in core product categories such as protein supplements and energy products, driven by innovative product development and effective marketing strategies [7][10]. - The company is expected to benefit from the upcoming peak season for sports and fitness, particularly during the marathon events in April and May [10]. Financial Data and Profit Forecast - The company’s projected revenues for 2025 are estimated at 1.41 billion yuan, with a year-on-year growth rate of 35.2% [6]. - The net profit for 2025 is forecasted to be 115 million yuan, reflecting a growth of 29.3% compared to the previous year [6]. - The gross margin for 2024 was reported at 39.4%, slightly down from the previous year, primarily due to rising costs of whey protein [7][10]. - The company’s earnings per share (EPS) for 2025 is projected to be 0.93 yuan [6]. Revenue Breakdown - In 2024, the revenue from sports nutrition products accounted for 75.9% of total revenue, with significant contributions from protein and energy supplements, which grew by 72.6% and 71.7% respectively [7]. - The military supply business generated 132 million yuan in revenue, although it saw a decline of 45.1% due to changes in procurement cycles [7]. - The company is actively increasing its inventory of whey protein to manage production costs effectively [7][10].

证券代码：833429 证券简称：康比特 公告编号：2025-037 北京康比特体育科技股份有限公司 关于召开 2024 年年度股东大会通知公告（提供网络投票） 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记 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 别及连带法律责任。 一、会议召开基本情况 （一）股东大会届次 本次会议为 2024 年年度股东大会。 （二）召集人 本次股东大会的召集人为董事会。 根据《中华人民共和国公司法》（以下简称"《公司法》"）和《北京康比 特体育科技股份有限公司章程》（以下简称"《公司章程》"）的有关规定，北 京康比特体育科技股份有限公司（以下简称"公司"）于 2025 年 4 月 16 日召 开第六届董事会第十一次会议，审议通过了《关于提请召开公司 2024 年年度 股东大会的议案》。 2、网络投票起止时间：2025 年 5 月 8 日 15:00—2025 年 5 月 9 日 15:00。 登记在册的股东可通过中国证券登记结算有限责任公司（以下简称"中国结 算"）持有人大会网络投票系统对有关议案进行投票表决，为有利于投票意见的 顺利提交 ...

北京康比特体育科技股份有限公司 第六届监事会第十次会议决议公告 本公司及监事会全体成员保证公告内容的真实、准确和完整，没有虚假记 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 别及连带法律责任。 一、会议召开和出席情况 （一）会议召开情况 证券代码：833429 证券简称：康比特 公告编号：2025-019 本次会议的召开符合《公司法》和《公司章程》的有关规定。 （二）会议出席情况 会议应出席监事 3 人，出席和授权出席监事 3 人。 二、议案审议情况 （一）审议通过《2024 年年度报告及摘要》 1.议案内容： 公司 2024 年度报告及摘要的编制和保密程序符合法律、法规、公司章程 和公司管理制度的各项规定；本次年度报告及摘要的内容和格式符合中国证监 会和北京证券交易所的各项规定，其内容真实、准确、完整，不存在任何虚假 记载、误导性陈述或者重大遗漏，报告客观地反映了公司 2024 年度的财务及 经营状况，并由容诚会计师事务所（特殊普通合伙）出具了标准无保留意见的 1.会议召开时间：2025 年 4 月 16 日 2.会议召开地点：公司会议室 3.会议召开方式：现场和通讯 4.发出监事 ...

证券代码：833429 证券简称：康比特 公告编号：2025-018 北京康比特体育科技股份有限公司 第六届董事会第十一次会议决议公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记 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 别及连带法律责任。 一、会议召开和出席情况 （一）会议召开情况 会议应出席董事 7 人，出席和授权出席董事 7 人。 二、议案审议情况 公司 2024 年度报告及摘要的编制和保密程序符合法律、法规、公司章程 和公司管理制度的各项规定；本次年度报告及摘要的内容和格式符合中国证监 会和北京证券交易所的各项规定，其内容真实、准确、完整，不存在任何虚假 记载、误导性陈述或者重大遗漏，报告客观地反映了公司 2024 年度的财务及 1.会议召开时间：2025 年 4 月 16 日 2.会议召开地点：公司会议室 3.会议召开方式：现场和通讯 4.发出董事会会议通知的时间和方式：2025 年 4 月 6 日以书面方式发出 5.会议主持人：白厚增 6.会议列席人员：公司监事、高级管理人员 7.召开情况合法、合规、合章程性说明： 本次会议的召开符合《公司法》和《 ...