从去年试水市场的 "北京鲜牛奶"，到如今树立技术标杆的 "北京酸奶"，两大战略单品接连推出，意味着三元食品以 "聚 焦北京、深耕低温" 为核心的发展战略稳步落地，通过差异化 产品矩阵强化区域市场竞争力，持续夯实低温乳品的核心优 势。 作者：张淼 封图：图片资料室 2026年开年不久，一款同时获得"清洁标签0级"与"天然配料食品"双重认证的酸奶在中国低温乳 制品市场首次亮相。 它的名字里带着鲜明的城市印记——北京酸奶。推出它的正是拥有七十年历史的北京本土乳企三元 食品。北京酸奶的上市，不仅是中国低温酸奶行业的一次技术突破，更被视为三元食品推动战略转 型的关键落子。 从去年试水市场的"北京鲜牛奶"，到如今树立技术标杆的"北京酸奶"，两大战略单品接连推出， 意味着三元食品以"聚焦北京、深耕低温"为核心的改革，已从内部调整阶段进入市场验证与深化 期。 一系列组织架构精简、产品线聚焦与渠道体系重塑，共同构成了三元食品战略焕新的完整闭环。 新大单品："双认证"酸奶是如何"炼"成的 三元食品的第二款大单品——北京酸奶身上有个显著的标签，即中国质量认证中心（CQC）颁发 的清洁标签0级评价与中轻检验认证有限公司（SIC）颁发 ...

来源：江苏经济报 责任编辑：刘万里 SF014 来源：江苏经济报 责任编辑：刘万里 SF014 ...

Core Viewpoint - In the context of weak consumer demand and intensified competition, Sanyuan Foods (600429.SH) has initiated a profound self-reform, focusing on high-quality development through strategic product launches and organizational restructuring [1][3]. Group 1: Strategic Restructuring - Sanyuan Foods is undergoing a strategic transformation by simplifying its organizational structure and enhancing brand strategy, aiming to focus on core business areas [4]. - The company has reduced its headquarters departments from 21 to 14, cutting personnel by 46%, and optimized its marketing system by nearly 40% [4]. - The strategic focus is on low-temperature dairy products, with a clear commitment to the Beijing market, moving away from a broad national expansion strategy [5][7]. Group 2: Product Innovation and Market Performance - The launch of the first strategic product, "Beijing Fresh Milk," in September last year, followed by "Beijing Yogurt," has validated the company's strategic focus and improved operational quality [8][10]. - "Beijing Fresh Milk" has successfully captured market share in Beijing's low-temperature milk sector, supported by a robust supply chain and high-quality standards [8][10]. - The second strategic product, "Beijing Yogurt," has received certifications for clean labeling and natural ingredients, further establishing Sanyuan's competitive edge in the market [10][12]. Group 3: Future Growth Strategies - Sanyuan Foods aims to deepen its strategic path of "focusing on Beijing and low-temperature products" through product innovation, channel optimization, and brand enhancement [14][16]. - The company plans to expand its product matrix to include functional low-temperature dairy products targeting specific consumer segments such as children and the elderly [14]. - Brand upgrades will leverage Sanyuan's historical legacy and quality control systems to enhance emotional connections with consumers, aiming to create a new growth curve [16][17].

在消费疲软、存量竞争加剧、消费需求向健康化与高端化持续转型的行业变局下，近年来，三元 股份(600429.SH)开启了一场深刻的自我革新。 从组织架构精简到品牌战略升级，从去年9月首支大单品"北京鲜牛奶"的成功试水，到近 日公司第二支战略单品"北京酸奶"的重磅上市，三元股份以"深耕低温、锚定北京"的清 晰路径，在消费疲软的大环境下实现利润逆势大幅增长，走出了一条区域乳企向高质量 发展转型的破局之路。 而近年来，三元股份这场成效初显的改革，不仅是企业自身的内生变革，更成为区域乳 企应对行业挑战的范本，其战略逻辑与实践成果值得深度剖析。 战略重塑：向内革新 锚定"聚焦主业"的破局之路 2 0 24年的三元股份，正站在发展的关键十字路口。于行业而言，彼时的中国乳业市场已 进入存量竞争时代，常温奶市场增长见顶，价格战愈演愈烈；而低温乳制品凭借新鲜、 营养的属性，成为行业增长新引擎。 在行业趋势与自身痛点的双重驱动下，三元股份以"深化改革、聚焦内功"为核心，开启 了一场自上而下的战略重塑。 组织架构的精简与提效，是这场改革的先手棋。公司以"有利润的收入、有现金流的利 润 " 为 经 营 导 向 ， 大 刀 阔 斧 推 ...

Core Viewpoint - The Chinese dairy product industry is experiencing a decline in production, with a projected decrease in output for 2025 compared to previous years [1][2]. Group 1: Industry Overview - According to the National Bureau of Statistics, the production of dairy products in China is expected to be 2.67 million tons in December 2025, representing a year-on-year decrease of 1.8% [1]. - The cumulative production of dairy products in China for the year 2025 is projected to be 29.503 million tons, which indicates a cumulative decline of 1.1% [1]. Group 2: Companies Involved - Listed companies in the dairy sector include Yili Co., Ltd. (600887), Bright Dairy (600597), San Yuan (600429), New Dairy (002946), Huangshi Group (002329), Yantang Dairy (002732), Zhuangyuan Pasture (002910), and Pinwo Foods (300892) [1].

Core Viewpoint - The main task for dairy companies in the new year is to overcome declining performance, with many companies announcing profit warnings due to intensified market competition and weak consumer recovery. Companies are shifting towards scenario marketing and functional products to rebuild differentiated competition and seek new market growth [2]. Market Competition - The competition in the dairy market is intensifying, with traditional subscription models facing challenges from supermarkets, e-commerce, and instant retail offering lower-priced fresh milk. For instance, the price of mainstream low-temperature fresh milk is around 9 to 11 yuan for 900ml, while supermarket private labels can go as low as 7 to 8 yuan [4][5]. - Data from Nielsen IQ indicates that from January to November 2025, the growth rate of the domestic dairy market declined by 8.8%. Major dairy companies like Yili, Mengniu, and Guangming reported varying degrees of performance decline in their Q3 reports, with net profits remaining negative despite some recovery efforts [5]. Shift Towards Scenario and Functional Products - Since 2023, growth in the domestic dairy sector has primarily been driven by product structure upgrades, including increased protein content and a shift from ambient to low-temperature products. However, product homogenization continues to pose challenges, particularly in the low-temperature fresh milk segment, leading to price wars [7]. - Companies are focusing on rebuilding differentiation through high-value products and innovations in scenario-based and functional offerings. For example, Guangming Dairy has launched products targeting fitness enthusiasts and specific health needs, such as high-protein yogurt and functional probiotics [8][10]. - Yili's management emphasizes a transition from volume-driven growth to quality-driven growth, with structural growth being influenced by rising health awareness and demand for diversified dairy products in high-tier cities. The adult nutrition market is projected to exceed 300 billion yuan by 2030, indicating significant potential for differentiated product categories [9]. Innovations and Market Strategies - Scenario-based products are a key focus for dairy companies, aiming to attract consumers by leveraging emotional value. For instance, Guangming Dairy introduced a product inspired by local cultural symbols, while San Yuan rebranded its fresh milk to emphasize local identity and freshness [10]. - Despite ongoing fierce competition in traditional liquid milk products, the shift towards functional and scenario-based innovations is seen as a way for companies to escape price competition and align with the growing trend of family nutrition [10].

Core Insights - The beverage and dairy sector experienced a rise of 0.51% on January 28, with Liziyuan leading the gains [1] - The Shanghai Composite Index closed at 4151.24, up 0.27%, while the Shenzhen Component Index closed at 14342.9, up 0.09% [1] Sector Performance - Liziyuan (605337) closed at 13.56, up 5.85% with a trading volume of 388,600 shares [1] - Sanyuan (600429) closed at 5.45, up 4.21% with a trading volume of 482,000 shares [1] - Dongpeng Beverage (605499) closed at 254.51, up 3.54% with a trading volume of 47,700 shares [1] - Other notable performers include Weiwe (600300) up 1.65% and Qishi Dairy (920786) up 1.18% [1] Capital Flow - The beverage and dairy sector saw a net inflow of 1.51 million yuan from institutional investors, while retail investors contributed a net inflow of 12.8 million yuan [2] - However, there was a net outflow of 129 million yuan from speculative funds [2] Individual Stock Capital Flow - Liziyuan had a net inflow of 62.55 million yuan from institutional investors, but a net outflow of 17.26 million yuan from speculative funds [3] - Yili (600887) saw a net inflow of 33.78 million yuan from institutional investors, but a significant net outflow of 71.72 million yuan from speculative funds [3] - Sanyuan (600429) had a net inflow of 22.36 million yuan from institutional investors, while retail investors experienced a net outflow of 27.12 million yuan [3]

Core Insights - The dairy industry is facing performance challenges due to homogenization leading to price wars, with companies struggling to maintain profitability as they adapt to changing market conditions [1][3] Market Competition - The competition in the dairy market is intensifying, with a notable decrease in subscription customers for companies like San Yuan, attributed to rational consumer spending and aggressive pricing from supermarkets and e-commerce platforms [2][3] - The price of mainstream low-temperature fresh milk ranges from 9 to 11 yuan for 900ml, while private label products can be as low as 7 to 8 yuan for the same volume, highlighting the fierce price competition [2] Industry Performance - Data from Nielsen IQ indicates an 8.8% decline in the growth of the domestic dairy market from January to November 2025, reflecting insufficient consumer demand [3] - Major dairy companies, including Yili, Mengniu, and Guangming, reported varying degrees of performance decline in their Q3 reports for 2025, with net profits remaining negative despite some operational adjustments [3] Product Innovation and Differentiation - Post-2023, growth in the dairy sector is primarily driven by product structure upgrades, focusing on enhancing nutritional content and transitioning from ambient to low-temperature products, although homogenization remains a challenge [4] - Companies are increasingly focusing on creating differentiated, high-value products through scenario-based and functional innovations to escape the price competition trap [4][7] - Guangming Dairy has introduced several innovative products targeting specific consumer needs, such as high-protein yogurt for fitness enthusiasts and functional probiotics for health management [5][6] Future Trends - The dairy industry is shifting from a growth-focused model to one that emphasizes diversification and precision nutrition, driven by rising health awareness among consumers [6] - The market for adult nutritional products is projected to exceed 300 billion yuan by 2030, indicating significant growth potential in differentiated product categories [6] - Scenario-based products are becoming a key focus for companies, aiming to leverage emotional value to attract and retain customers in a competitive market [7]

证券代码：600429 证券简称：三元股份 公告编号：2026-003 北京三元食品股份有限公司 关于召开2026年第一次临时股东会 的通知 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： 2026年第一次临时股东会 (二)股东会召集人：董事会 网络投票系统：上海证券交易所股东会网络投票系统 网络投票起止时间：自2026年2月12日 至2026年2月12日 采用上海证券交易所网络投票系统，通过交易系统投票平台的投票时间为股东会召开当日的交易时间 段，即9:15-9:25，9:30-11:30，13:00-15:00；通过互联网投票平台的投票时间为股东会召开当日的9:15- 15:00。 (六)融资融券、转融通、约定购回业务账户和沪股通投资者的投票程序 (三)投票方式：本次股东会所采用的表决方式是现场投票和网络投票相结合的方式 (四)现场会议召开的日期、时间和地点 召开的日期时间：2026年2月12日 14:30 召开地点：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 (五)网络投票的系统、起止日期和投票 ...

中访网数据 北京三元食品股份有限公司（简称"公司"）为规范独立董事行为、提升治理水平，根据最 新监管要求，修订并发布了《独立董事管理办法》。该办法明确了独立董事的任职资格、职责权限与履 职保障，旨在充分发挥其在公司治理中的监督与咨询作用。核心修订内容包括：独立董事占董事会成员 比例不得低于三分之一，且须至少包含一名会计专业人士；董事会下设各专门委员会中，独立董事应占 半数以上；赋予独立董事在关联交易等特定事项上的前置审议权，并规定需经独立董事专门会议审议； 要求公司为独立董事履职提供充分支持与必要保障，包括知情权、工作条件及津贴等。办法强调独立董 事应维护公司和全体股东利益，尤其关注中小股东合法权益。此次修订是公司完善现代企业制度、响应 监管机构对上市公司质量提升要求的重要举措，预计将进一步优化公司董事会决策机制，增强内部监督 制衡，对公司的长期规范运作与可持续发展产生积极影响。 ...