证券代码：600429 证券简称：三元股份 公告编号：2025-023 北京三元食品股份有限公司 2024 年年度股东大会决议公告 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。 (一)股东大会召开的时间：2025 年 6 月 27 日 (二)股东大会召开的地点：北京市大兴区瀛海瀛昌街 8 号，公司工业园南区四楼 会议室 (三)出席会议的普通股股东和恢复表决权的优先股股东及其持有股份情况： | 1、出席会议的股东和代理人人数 | 143 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 1,109,395,069 | | 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（%） | 73.5099 | (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。 会议由公司董事会召集，采取现场投票及网络投票相结合的方式召开并表决。 现场会议由公司董事长袁浩宗先生主持，会议的召集、召开及表决方式符合《公 司法》等有关法律法规和《公司章程》的规定。 (五) ...

北京市环球律师事务所 关于北京三元食品股份有限公司 2024 年年度股东大会 之 法律意见书 北京市环球律师事务所 关于北京三元食品股份有限公司 2024 年年度股东大会 之 法律意见书 GLO2025BJ（法）字第 06109 号 为出具本法律意见书，本所律师审查了公司提供的本次股东大会相关文件，列席了 本次股东大会。公司承诺其所提供的文件和所作的陈述和说明是真实、完整和有效的， 并且无任何隐瞒、疏漏之处。 在本法律意见书中，本所根据本法律意见书出具日或以前发生的事实及本所律师对 该事实的了解，仅就本次股东大会的召集和召开程序、出席或列席会议人员资格和召集 人资格、会议表决程序和表决结果等事宜所涉及的相关法律问题发表法律意见。本所同 意公司将本法律意见书作为本次股东大会的公告材料，随同其他会议文件一并报送有关 机构并公告。除此以外，未经本所书面同意，本法律意见书不得用于其他任何目的。 鉴于此，本所根据有关法律、行政法规、部门规章和规范性文件的要求，按照律师 行业公认的业务标准、道德规范和勤勉尽责精神，出具本法律意见如下： 2 / 6 $$\left(\begin{array}{l}{{\overbrace{ ...

一、 董事会会议召开情况 北京三元食品股份有限公司（简称"公司"）于 2025 年 6 月 27 日以现场结 合通讯会议方式召开第九届董事会第一次会议，本次会议的通知于 2025 年 6 月 24 日以电话、电子邮件方式向全体董事发出。公司董事 8 人，参加会议 8 人。 本次会议的召集、召开及表决程序符合有关法律、行政法规、部门规章、规范性 文件及《公司章程》的规定。 股票代码：600429 股票简称：三元股份 公告编号：2025-024 北京三元食品股份有限公司 第九届董事会第一次会议决议公告 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、准确性及完整性承担法律责任。 同意选举袁浩宗先生为公司第九届董事会董事长；同意选举黄震先生为公 司第九届董事会副董事长。 表决结果：8 票同意，0 票反对，0 票弃权。 二、 董事会会议审议情况 （二）审议通过了《关于选举公司第九届董事会专门委员会委员的议案》； 1、战略委员会由袁浩宗先生、姚宇先生、蒋林树先生、倪静女士和郑登津 先生五人组成，并选举袁浩宗先生任主任。 2、提名委员会由蒋林树先生、袁浩宗先生、黄震先 ...

Group 1 - The core viewpoint emphasizes the need for traditional brands, especially "time-honored" brands, to innovate and adapt to modern consumer preferences while maintaining their cultural heritage [1] - The National Development and Reform Commission's measures aim to leverage the consumption potential of traditional brands and intangible cultural heritage to support stable consumption growth [1][4] - The "Guochao" brand vitality is encouraged through innovative scenarios and integrated products to attract younger consumers [1][4] Group 2 - San Yuan Dairy, established in 1956, is transforming by opening direct experience stores and entering the beverage market to align with new consumption trends [4][5] - The reopening of the "Beijing Milk Company" brand features interactive and social consumption experiences, moving from mere product sales to experiential engagement [5][6] - Innovative products like the "Erba Sauce Milk Tea," which combines traditional flavors with modern beverage trends, reflect a strategy to connect with younger consumers [7][8] Group 3 - Experts suggest that the transformation of time-honored brands should focus on systemic innovation around content, experience, and channels rather than superficial changes [8][9] - San Yuan Dairy is modernizing its operations through digital factory construction and the development of sub-brands that integrate intangible cultural heritage with new retail scenarios [8][9] - The competition among traditional brands is shifting from historical prestige to effective transformation capabilities [9] Group 4 - The "Beijing North Shore Market" initiative by Fangshan Tea House and Beihai Park aims to revitalize intangible cultural heritage through innovative experiences and cross-industry collaborations [11][12] - The market combines various cultural elements to create immersive experiences that engage consumers and promote cultural heritage [11][12][13] - The approach includes breaking down intangible cultural heritage into accessible experiences that encourage consumer participation and sharing [13][14] Group 5 - Wu Yutai, a time-honored tea brand, is exploring a "tea+" model that integrates tea with various products and experiences to attract younger consumers [18][19] - The new store concept combines tea with baked goods and coffee, creating a multi-functional space that enhances consumer engagement [19][20] - The brand's ongoing efforts to modernize its offerings and marketing strategies reflect a commitment to connecting with the younger generation [21][22] Group 6 - Fangzhuan Factory No. 69 is innovating by introducing a "炸酱面" (fried sauce noodles) ice cream, which creatively reinterprets traditional flavors to appeal to modern consumers [26][27] - The product's success is attributed to effective social media marketing and a strong connection with younger consumers, leading to significant sales growth [27][28] - The brand is also enhancing its operational model by optimizing service processes and training staff to improve customer experiences [29][30]

Investment Rating - The investment rating for the company is "Accumulate" with a first-time coverage [1] Core Views - The company is experiencing short-term demand pressure, but its operational quality is continuously improving [4] - In 2024, the company is expected to achieve revenue of 7.01 billion yuan, with a significant decline in net profit due to the absence of one-time gains from previous years [4][10] - The company is focusing on optimizing its sales system and enhancing operational quality by emphasizing profitable revenue and cash flow [5] Company Overview - Latest closing price is 4.37 yuan, with a total market capitalization of 6.6 billion yuan [3] - The company has a total share capital of 1.509 billion shares, with a debt-to-asset ratio of 42.7% and a price-to-earnings ratio of 121.39 [3] Financial Performance - In 2024, the company is projected to have a gross margin of 22.93% and a net profit margin of 0.78%, with various expense ratios reflecting changes in operational efficiency [4] - For Q1 2025, the company is expected to report a revenue of 1.647 billion yuan, with a net profit of 88 million yuan, showing a recovery in profitability compared to the previous year [5][10] Revenue Breakdown - In 2024, revenue from liquid milk, solid milk, and ice cream is expected to be 4.411 billion, 0.963 billion, and 1.499 billion yuan respectively, with varying growth rates across product lines [4] - Revenue from distribution and direct sales channels is projected to be 3.840 billion and 2.243 billion yuan respectively, indicating a decline in direct sales [4] Future Outlook - The company aims to achieve revenue growth in 2025, with expectations of 7.015 billion yuan, and a gradual increase in net profit over the next few years [8][10] - The forecast for 2025-2027 indicates a slight revenue growth trajectory, with net profit expected to increase significantly in 2025 [8][10]

Core Insights - The article discusses the cheese industry in China, focusing on the production processes, patent applications, and the technological aspects of processed cheese [10][11]. Group 1: Cheese Production Process - The production of processed cheese involves a complex process that includes natural cheese treatment, mixing with emulsifying salts and other ingredients, heating, continuous stirring, packaging, cooling, and storage [5][9]. - Key parameters affecting the quality of processed cheese include melting temperature, processing time, stirring speed, and cooling rate, which significantly influence the final product's texture and functionality [2][4][9]. Group 2: Ingredients and Composition - The composition of processed cheese is influenced by various chemical components such as fat content, moisture content, pH value, total calcium content, casein content, lactose content, and whey protein content [7][9]. - The total calcium content in processed cheese affects its manufacturing difficulty and functional properties, with higher calcium levels leading to increased hardness and reduced meltability [9]. - The pH value of processed cheese is crucial for its quality and microstructure, with an optimal range identified between 5.4 and 5.8 [9]. Group 3: Patent Landscape - As of now, there are over 3,700 cheese-related patents in China, with a notable increase in applications since 2015, peaking at 541 applications in 2023 [10][11]. - The leading applicant for cheese-related patents is Yijia Haonai, a subsidiary of Yili Group, with 137 patents, followed by Mengniu Dairy, Bright Dairy, Yili Company, and Miaokelan Duo [11].

Core Viewpoint - Beijing Sanyuan Foods Co., Ltd. has focused on innovation, reform, and risk prevention to adapt to market demand decline and intensified competition, achieving a revenue of 7 billion yuan and a net profit of 54.81 million yuan in 2024 [1][14]. Group 1: Business Performance - The company achieved an operating income of 701.24 million yuan in 2024, a decrease of 10.73% compared to 785.51 million yuan in 2023 [15]. - The net profit attributable to the parent company was 54.81 million yuan, with a basic earnings per share of 0.036 yuan [14][15]. - The operating cash flow was 359.40 million yuan, with a year-end cash and cash equivalents balance of 923.38 million yuan [14][18]. Group 2: Innovation and Development - The company has been awarded 15 domestic and international patents and published 15 SCI articles and 4 EI articles [2]. - New product launches include various flavored dairy products and infant formula to meet diverse consumer needs [2][3]. - The company has been recognized for its quality management practices, with its QC team awarded as an excellent quality management group [3]. Group 3: Governance and Management - The company has streamlined its organizational structure, reducing headquarters departments from 21 to 14, resulting in a 46% reduction in personnel [3]. - A comprehensive salary and assessment system has been established to enhance talent attraction and motivation [5][6]. - The board of directors has actively participated in training to improve their professional knowledge and governance capabilities [8]. Group 4: Financial Analysis - The company's gross profit margin was 22.93%, a slight decrease from 23.11% in the previous year [15]. - Operating costs decreased by 10.51% to 540.47 million yuan, contributing to a gross profit of 160.77 million yuan [15]. - The company reported a significant increase in non-recurring gains, with a net amount of 29.82 million yuan, reflecting a 934.19% year-on-year growth [17]. Group 5: Future Plans - The company aims to achieve revenue growth in 2025, focusing on strategic direction, reform, and enhancing brand value [10][20]. - Key initiatives include strengthening technological innovation, optimizing operational systems, and developing a long-term talent plan [10][20].

Group 1 - The company will hold a performance briefing for the fiscal year 2024 and the first quarter of 2025 on June 30, 2025, from 13:00 to 14:00 [1][2] - The meeting will take place at the Shanghai Stock Exchange Roadshow Center and will be conducted via video recording and online text interaction [1][2] - Investors can submit questions from June 23 to June 27, 2025, and the company will address commonly asked questions during the briefing [1][3] Group 2 - Key personnel attending the meeting include General Manager Chen Haifeng, Independent Director Jiang Linshu, Chief Financial Officer An Changlin, and Board Secretary Zhang Na [2] - Investors can participate in the briefing by logging into the Shanghai Stock Exchange Roadshow Center on the scheduled date [2] - After the meeting, investors can view the main content and outcomes of the briefing on the Shanghai Stock Exchange Roadshow Center [3]

股票代码：600429 股票简称：三元股份 公告编号：2025-022 北京三元食品股份有限公司 关于召开2024年度暨2025年第一季度业绩说明会的公告 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、准确性及完整性承担法律责任。 重要内容提示： ● 会议召开时间：2025 年 6 月 30 日（星期一）13:00-14:00 ● 会 议 召 开 地 点 ： 上 海 证 券 交 易 所 上 证 路 演 中 心 （ 网 址 ： https://roadshow.sseinfo.com/） ● 会议召开方式：上证路演中心视频录播和网络文字互动 ● 投资者可于 2025 年 6 月 23 日（星期一）至 6 月 27 日（星期五）16:00 前登录上证路演中心网站首页点击"提问预征集"栏目或通过公司邮箱 zhengquanbu@sanyuan.com.cn 进行提问。公司将在说明会上对投资者普遍关注的 问题进行回答。 北京三元食品股份有限公司（简称"公司"）已于 2025 年 4 月 29 日在《中 国证券报》《上海证券报》以及上海证券交易所网站（https: ...

Beijing Sanyuan Foods Co.,Ltd. The Shareholders' Meeting of 2024 北 京 三 元 食 品 股 份 有 限 公 司 2024 年年度股东大会会议资料 2025 年 6 月 27 日 2024 年年度股东大会 二零二五年六月二十七日 北 京 2024 年年度股东大会会议资料 2025 年 6 月 27 日 会议资料目录 | 2024 年年度股东大会会议议程 2 | | | --- | --- | | 2024 年度董事会报告 3 | | | 2024 年度监事会报告 8 | | | 2024 年年度报告及摘要 10 | | | 2024 年度财务决算报告及 2025 年度财务预算报告 11 | | | 2024 年度利润分配方案 20 | | | 2024 年度资产减值准备计提及转回（销）的议案 21 | | | 2025 年度日常关联交易的议案 27 | | | 2024 年度独立董事述职报告 37 | | | 关于与集团财务公司 2025 52 | 年度综合授信、资金存放等预计业务的关联交易议案 | | 55 | 关于向北京农商银行申请综合授信额 ...