新疆伊力特实业股份有限公司关于董事、副总经理刘新宇辞职的公告 股票简称：伊力特 股票代码：600197 公告编号：2024-046 新疆伊力特实业股份有限公司关于 董事、副总经理刘新宇辞职的公告 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法律责任。 新疆伊力特实业股份有限公司董事会 2024 年 11 月 19 日 根据《公司法》及《公司章程》的有关规定，刘新宇先生的辞职未导致公司 董事会成员低于法定人数，不会影响董事会正常运作，刘新宇先生的辞呈自送达 董事会之日起生效，公司将尽快召开董事会增补董事。 刘新宇先生在担任公司董事、副总经理期间内，恪尽职守、勤勉尽责，公司 对刘新宇先生的专业素养、工作成果给予充分肯定，对刘新宇先生在任职期间所 做工作表示衷心感谢！ 特此公告。 近日，公司收到董事、副总经理刘新宇先生的书面辞职报告。刘新宇先生因 达到法定退休年龄，特向公司董事会提出辞去董事、副总经理以及董事会下设战 略委员会、薪酬与考核委员会委员职务。 ...

证券代码：600197 证券简称：伊力特 公告编号：2024-045 新疆伊力特实业股份有限公司 2024 年第三次临时股东大会决议公告 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法律责任。 重要内容提示： 本次会议是否有否决议案：无 一、 会议召开和出席情况 | 1、出席会议的股东和代理人人数 | 628 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 229,940,765 | | 3、出席会议的股东所持有表决权股份数占公司有表决权股 | | | 份总数的比例（%） | 48.7147 | (四) 表决方式是否符合《公司法》及《公司章程》的规定，大会主持情况等。 公司本次股东大会采取现场投票与网络投票相结合的方式召开，会议的召集、 召开及表决方式符合《公司法》及《公司章程》的规定，公司聘请了国浩律师（乌 鲁木齐）事务所温晓军律师和陈万财律师对本次股东大会进行见证。会议由公司 董事会召集，董事长陈智先生主持。 (一) 股东大会召开的时间：2024 年 11 月 15 日 (二) 股东大会召开 ...

国浩律师（乌鲁木齐）事务所 关于 之 法律意见书 新疆乌鲁木齐经济技术开发区云台山街 499 号盛达广场 15 层 郵編：830000 15th Floor, Sheng Da Building,No.499 YunTai Road,Urumqi 830000,China 電話/Tel:13899993996 (+86)(991)3070288 網址/Website:http://www.grandall.com.cn 2024 年第三次临时股东会见证法律意见书 国浩律师（乌鲁木齐）事务所 关于新疆伊力特实业股份有限公司 2024 年第三次临时股东会见证 之法律意见书 致：新疆伊力特实业股份有限公司 新疆伊力特实业股份有限公司 2024 年第三次临时股东会见证 国浩律师（乌鲁木齐）事务所（以下简称"本所"）接受新疆伊 力特实业股份有限公司（以下简称"公司"）的委托，根据《中华人 民共和国证券法》（以下简称"《证券法》"）、《中华人民共和国 公司法》（以下简称"《公司法》"）、中国证券监督管理委员会（以 下简称"中国证监会"）《上市公司股东大会规则》（以下简称"《股 东大会规则》"）《上海证券交易所股票上市规则 ...

Investment Rating - The report maintains a "Buy" rating for the company, with a target price not specified [4]. Core Views - The company experienced a decline in sales performance in Q3 2024, with revenue and net profit decreasing by 23.32% and 17.75% year-on-year, respectively [1]. - High-end liquor revenue showed a smaller decline of 11.84%, indicating an improvement in product mix as its proportion increased by 9.16 percentage points to 77.81% [2]. - The company is expanding its market presence outside its home region, with revenue from outside the region increasing by 32.42% year-on-year, while domestic revenue fell by 33.41% [3]. - Profitability metrics improved, with gross margin and net margin rising by 9.22 and 0.20 percentage points to 59.85% and 13.42%, respectively, attributed to the higher proportion of high-end liquor [4]. - The company is implementing a new marketing strategy aimed at driving marginal changes, despite a slight downward adjustment in profit forecasts for 2024-2026 [4]. Financial Summary - For Q3 2024, the company reported revenues of 324 million yuan, net profit of 43 million yuan, and adjusted net profit of 44 million yuan [1]. - The revenue breakdown for high-end, mid-range, and low-end liquor in Q3 2024 was 250 million, 57 million, and 14 million yuan, respectively [2]. - The company’s total revenue for 2024 is projected to be 2,252.36 million yuan, with a slight growth rate of 0.95% [6]. - The expected net profit for 2024 is 346.10 million yuan, reflecting a growth rate of 1.84% [6].

新疆伊力特实业股份有限公司 2024 年第三次临时股东大会上网资料 新疆伊力特实业股份有限公司 Xinjiang Yilite Industry Co.,LTD 2024 年第三次临时股东大会会议资料 新疆伊力特实业股份有限公司 2024 年第三次临时股东大会上网资料 会议资料目录 1、公司 2024 年第三次临时股东大会会议议程 2、议案一关于变更会计师事务所及费用的议案 新疆伊力特实业股份有限公司 2024 年第三次临时股东大会上网资料 新疆伊力特实业股份有限公司 2024 年第三次临时股东大会会议议程 （会议时间：2024 年 11 月 15 日） | 项目 | 议 题 | 议题主持人 | | --- | --- | --- | | 1 | 宣布会议开始 | 主持人 | | 2 | 宣读参加股东大会的股东及股东代表到会情况 | 主持人 | | 3 | 宣读授权委托书 | 主持人 | | 4 | 关于变更会计师事务所及费用的议案 | 君洁 | | 5 | 现场股东对上述议案进行讨论、表决 | 主持人 | | 6 | 选举监票人 | 主持人 | | 7 | 宣布现场表决结果 | 监票人 | | 8 | 询问 ...

Investment Rating - The report maintains a "Buy" investment rating for the company [1][2]. Core Views - The company is experiencing short-term pressure in its domestic market, while showing strong growth in external markets. The overall revenue for Q1-Q3 2024 was 1.654 billion yuan, with a year-on-year increase of 0.64%. The net profit attributable to shareholders was 241 million yuan, reflecting a year-on-year increase of 5.27% [1]. - The new management team is expected to implement comprehensive internal reforms, which may enhance the company's internal momentum. The EPS forecasts for 2024-2026 have been adjusted to 0.74, 0.82, and 0.93 yuan respectively, with corresponding PE ratios of 22, 20, and 18 times [2]. Summary by Sections Performance Overview - The company's total revenue for Q3 2024 was 324 million yuan, a decrease of 23.32% year-on-year. The gross margin and net margin for Q1-Q3 2024 were 52.35% and 14.76%, respectively, showing year-on-year increases of 3.84 and 0.47 percentage points [1]. - The company reported a decrease in operating cash flow, with net cash flow from operating activities for Q1-Q3 2024 being 24 million yuan, down 88.50% year-on-year [1]. Product and Market Analysis - Revenue from high-end, mid-range, and low-end liquor for Q1-Q3 2024 was 1.119 billion, 399 million, and 116 million yuan, respectively, with year-on-year growth of 2.18%, 2.74%, and a decline of 3.53% [1]. - The company has seen a significant increase in direct sales, with a year-on-year growth of 52.42% in Q1-Q3 2024, while wholesale and agency sales have decreased by 6.11% [1]. Regional Performance - Revenue from domestic and external markets for Q1-Q3 2024 was 1.227 billion and 408 million yuan, respectively, with year-on-year changes of -5.54% and +33.48% [1]. - The company has increased its number of distributors to 276, up by 101 from the end of 2023, indicating a positive trend in market expansion [1].

[ T able_StockInfo] 2024 年 10 月 31 日 证券研究报告•2024 年三季报点评 买入 （维持） 当前价：16.84 元 伊 力 特（600197）食品饮料 目标价：20.75 元（6 个月） 深度改革战略明晰，疆外高增势能延续 [Table_Summary 事件：公司发布] 2024年三季报，前三季度实现营收 16.5亿，同比+0.6%；归母 净利润 2.4亿，同比+5.3%。单季度来看，24Q3实现营收 3.2亿，同比-23.3%； 归母净利润 0.4 亿，同比-17.8%。公司收入增长承压，业绩低于预期。 高档占比提升，疆外增长显著。1、分产品看，前三季度高档/中档/低档分别实 现营收 11.2/4.0/1.2 亿元，同比+2%/+3%/-4%；其中，24Q3 高档/中档/低档分 别实现营收 2.5/0.6/0.1亿元，同比-12%/-35%/-66%。当前白酒消费需求较弱， 行业竞争加剧，公司深度改革周期有所降速，Q3整体销售承压。随着对产品体 系全面梳理，坚定发展战略自营产品，高档产品占白酒营收比同比+9.2pp 至 77.8%，未来中高档酒新品调整、市场招商后有望迎来 ...

Investment Rating - The investment rating for the company is maintained at "Outperform" [5]. Core Insights - The company reported a total revenue of 1.654 billion in the first three quarters of 2024, a year-on-year increase of 0.64%, while the net profit attributable to the parent company was 241 million, up 5.27% year-on-year. However, the revenue for Q3 2024 was 324 million, a decline of 23.32% year-on-year, and the net profit for Q3 was 43 million, down 17.75% year-on-year, indicating that the revenue performance was below expectations [5][6]. - Due to weak demand for liquor, the profit forecast for 2024-2026 has been revised downwards, with expected net profits of 340 million, 357 million, and 392 million respectively, reflecting year-on-year growth of 0%, 5%, and 10% [5][6]. - The company's liquor revenue in Q3 2024 was 321 million, a decrease of 22.2% year-on-year, with high-end liquor revenue at 250 million (down 11.8%), mid-range liquor at 57 million (up 35.1%), and low-end liquor at 14 million (down 66.1%) [5][6]. Financial Summary - For the first three quarters of 2024, the company achieved total revenue of 1.654 billion, with a year-on-year growth rate of 0.6%. The net profit attributable to the parent company was 241 million, with a year-on-year growth rate of 5.3% [7]. - The projected total revenue for 2024 is 2.235 billion, with a slight year-on-year growth of 0.2%. The net profit is expected to remain at 340 million, reflecting a minimal growth of 0.1% [7]. - The gross profit margin for Q3 2024 was 59.85%, an increase of 9.22 percentage points year-on-year, while the net profit margin was 13.24%, up 0.2 percentage points year-on-year [6][7].

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company reported a total revenue of 1.654 billion yuan for the first three quarters of 2024, a year-on-year increase of 0.64%, with a net profit attributable to the parent company of 241 million yuan, up 5.27% year-on-year. However, Q3 revenue was 324 million yuan, down 23.32% year-on-year, and net profit was 43 million yuan, down 17.75% year-on-year, primarily due to price maintenance and inventory control by the company [2][3] Summary by Sections Revenue and Profitability - For Q3 2024, the company's white liquor revenue was 320 million yuan, a year-on-year decline of 22.2%. High-end liquor revenue was 250 million yuan, down 11.8% year-on-year, with the flagship product, Yili Wang, contributing 130 million yuan, a 42% increase year-on-year. However, excluding Yili Wang, high-end liquor revenue fell by 36.4% due to inventory control measures [3] - The company's gross margin improved significantly, with Q3 gross margin rising by 9.2 percentage points to 59.85%, driven by the increased contribution from Yili Wang, which accounted for 39.3% of total liquor revenue, up 17.7 percentage points year-on-year [4] Financial Forecasts - The company adjusted its net profit forecasts for 2024-2026 to 340 million, 400 million, and 470 million yuan, respectively, reflecting a year-on-year growth of 0.4%, 16%, and 18%. The corresponding P/E ratios are projected to be 24, 20, and 17 times [5]

Investment Rating - The report maintains an "Accumulate" rating for the company [1][2][7]. Core Views - The company has faced pressure in its domestic market, but it is actively expanding its direct sales outside the region [1]. - The third quarter of 2024 saw a significant decline in revenue and net profit compared to the previous year, indicating challenges in the current market environment [1]. - Despite the challenges, the company is focusing on optimizing its product structure and expanding its distribution network, particularly in Sichuan, where the number of cooperative distributors has increased [1]. Revenue and Profit Analysis - For the first three quarters of 2024, the company achieved revenue of 1.65 billion yuan, a year-on-year increase of 0.6%, and a net profit of 240 million yuan, up 5.3% year-on-year [1]. - In Q3 2024, revenue was 320 million yuan, down 23.3% year-on-year, and net profit was 40 million yuan, down 17.8% year-on-year [1]. - Revenue from high-end, mid-range, and low-end products for the first three quarters of 2024 was 1.12 billion, 400 million, and 120 million yuan, respectively, with year-on-year changes of +2%, +3%, and -4% [1]. Regional Performance - Revenue from the domestic market for the first three quarters of 2024 was 1.23 billion yuan, down 6% year-on-year, while revenue from outside the region was 410 million yuan, up 33% year-on-year [1]. - In Q3 2024, domestic revenue was 230 million yuan, down 33% year-on-year, while revenue from outside the region was 90 million yuan, up 32% year-on-year [1]. Cost and Margin Analysis - The company's net profit margin increased by 0.9 percentage points to 13.3% in Q3 2024, driven by an improved product mix that raised the gross margin by 9.2 percentage points [1]. - The sales expense ratio increased by 4.5 percentage points, and the management expense ratio rose by 3.7 percentage points [1]. Future Earnings Forecast - The report projects a 7% downward adjustment in net profit for 2024 and 2025, with expected revenues for 2024, 2025, and 2026 to be -1.8%, +7.7%, and +11.7%, respectively [2]. - The estimated net profits for 2024, 2025, and 2026 are 360 million, 400 million, and 480 million yuan, respectively, with corresponding EPS of 0.76, 0.86, and 1.01 yuan [2].