●会议召开时间：2025年9月24日（星期三）15:00至16:00 ●网络互动地址：登录"上证路演中心"网站（http://roadshow.sseinfo.com） ●会议召开方式：网络文字交流 登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：600597 证券简称：光明乳业 公告编号：临2025-028号 光明乳业股份有限公司 关于召开2025年半年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、准确性和完整性承担法律责任。 重要内容提示： ●预征集投资者提问：2025年9月17日（星期三）至9月23日（星期二）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600597@brightdairy.com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。 光明乳业股份有限公司（以下简称"公司"）已于2025年8月30日发布公司2025年半年度报告，为便于广 大投资者更全面深入地了解公司2025年半年度经营成果、财务状况，公司计划于2025年9月24日（星期 三）15:00-16:00举 ...

●网络互动地址：登录"上证路演中心"网站（http://roadshow.sseinfo.com） ●会议召开方式：网络文字交流 ●预征集投资者提问：2025 年 9 月 17 日（星期三）至 9 月 23 日（星期二） 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 600597@brightdairy.com 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。 光明乳业股份有限公司（以下简称"公司"）已于 2025 年 8 月 30 日发布公 司 2025 年半年度报告，为便于广大投资者更全面深入地了解公司 2025 年半年度 经营成果、财务状况，公司计划于 2025 年 9 月 24 日（星期三）15:00-16:00 举 行 2025 年半年度业绩说明会，就投资者关心的问题进行交流。 一、活动类型 证券代码：600597 证券简称：光明乳业 公告编号：临 2025-028 号 光明乳业股份有限公司 关于召开 2025 年半年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、准确性和完整性承担法 ...

光明乳业采用数字化追溯系统向消费者呈现了透明化的乳制品生产过程，包括智慧牧场的建造、乳制品的加工、 工厂的建设等。公司通过数字化系统对奶牛进行科学喂养，并进行实时管控，以确保 食品安全 。同时，工厂方面 也及时联网，可以实时监控其生产过程，并让消费者共同参与监督，极大地提高了消费者对光明乳业产品的信任 度。 光明乳业作为数字化转型的先行者，凭借智慧牧场、智能工厂、数字化供应链等创新举措，不仅优化了企业成本 管理，提升了资源利用效率，更为行业树立了数字化升级的标杆。展望未来，光明乳业将继续深化数字化改革， 推动乳业向智能化、高效化迈进，为消费者带来更多优质产品，为行业可持续发展注入新动力。 随着 大数据 、 云计算 、 人工智能 、 5G 、云服务、工业 互联网 等新技术的蓬勃发展，企业数字化转型成为传 统企业转型升级的发展方向。作为百年乳企的 光明乳业 ，在这方面就走在了前列，通过数字化转型，对企业成本 管理产生积极影响，也为其他企业数字化转型提供参考。 近年来，光明乳业高度重视数字化工作，为加快转型步伐专门成立了数字化转型部门，建设了一个全产业链大数 据平台，利用大数据、云计算等技术，将传统牧场升级为数字化 ...

证券之星消息，9月11日饮料乳品板块较上一交易日上涨0.61%，庄园牧场领涨。当日上证指数报收于 3875.31，上涨1.65%。深证成指报收于12979.89，上涨3.36%。饮料乳品板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | | --- | --- | --- | --- | --- | --- | --- | | 002910 | 庄园牧场 | 10.26 | 2.29% | 6.90万 | | 6962.61万 | | 603156 | 养元饮品 | 22.40 | 1.82% | 4.13万 | | 9157.19万 | | 300892 | 品屋食品 | 39.91 | 1.24% | 8.19万 | | 3.20亿 | | 600887 | 伊利股份 | 28.72 | 1.02% | 60.79万 | | 17.38亿 | | 000848 | 其德國露 | 8.64 | 0.93% | 10.60万 | | 9096.59万 | | 605499 | 东鹏饮料 | 299.78 | 0.92% | 1.51万 | | 4.46 ...

当00后用手机镜头捕捉冷饮柜里的青春微光，当国潮元素与经典冰砖碰撞出奇妙化学反应，一场由光明 冷饮发起、Z世代主导的"品牌焕新实验"正在上海掀起创意热潮。 近日，由共青团上海市委员会指导，光明冷饮与青年报社联合主办的"光明创想力·青春营业中"大学生 就业创业实践项目进入高潮。记者从主办方获悉，截至目前已收到超300件作品，且作品数仍在增加 中。这场以短视频创意大赛与创业实践为核心的活动，不仅为青年学子提供了施展才华的舞台，更让这 个成立于1950年的老字号在青春力量的注入下，焕发出不一样的生机。 创意解构 Z世代重新定义"光明记忆" "光明冷饮不该只是童年回忆的符号，它应该成为年轻人生活方式的提案者。"上海师范大学广告学专业 大二学生孙历是一名05后，他非常关注此次比赛，以"跨界联名"为突破口，提交了许多创意提案，比如 让冷饮与风油精、五香豆等上海本土元素碰撞的奇思妙想。在他的构想中，夏季推出薄荷风油精口味雪 糕解暑，秋季结合五香豆开发咸甜交织的创意产品，甚至设计"光明冰棍盲盒"，将地域文化符号转化为 可感知的消费体验。 这种"破圈"思维已被落地。 在网友"火车驶向云外"的短片《夏日救赎计划》里：光明冷饮是夏 ...

健康佳闻：此前食品标签普遍存在字小、内容杂、难以辨识、查阅困难等问题。而数字标签指的就是食 品包装上采用二维码等信息化手段展示的食品标签。通过扫描数字标签二维码，消费者可以通过手机等 移动设备了解食品标签信息。同时，通过数字标签的页面缩放、语音识读、视频讲解等功能，实现食品 标签信息"可听、可播、可放大"功能，有效解决标签信息"找不到、看不清、读不懂"的问题。 围绕《公告》内容，汇总国家卫健委、行业专家等多方信息源，南方财经·健康佳闻从三个维度分析解 读。 一问：食品标签将迎来怎样的数字化变革？ 二问：对消费者有哪些利好？ 健康佳闻：1、没有版面限制，内容更丰富。 《公告》明确允许通过数字标签展示更多因实体标签版面受限而无法展示的合法信息，包括：配料具体 来源及生产工艺细节、产品产地溯源信息、详细食用方法建议、食品安全与营养特性说明、全链条产品 追溯信息等。让消费者可以通过数字标签了解更多的食品安全、营养健康知识。 2、信息更聚焦，关键信息一目了然。 21世纪经济报道记者 贺佳雯 北京报道 2025年9月8日，国家卫生健康委员会与国家市场监督管理总局联 合发布了《关于实施预包装食品数字标签有关事项的公告》（以 ...

Core Viewpoint - The company reported a decline in revenue and net profit for the first half of 2025, with a focus on the challenges faced in the liquid milk and livestock product segments, while other dairy products showed positive growth [1][2]. Revenue Summary - For 25H1, the revenue from liquid milk, other dairy products, and livestock products was 66.1 billion, 44.5 billion, and 5.2 billion respectively, showing year-on-year changes of -8.6%, +8.8%, and -13.8% [2]. - In 25Q2, the revenue for liquid milk, other dairy products, and livestock products was -10.8%, +6.1%, and +140.4% year-on-year, indicating a mixed performance across product lines [2]. - Regional performance in 25H1 showed revenue from Shanghai, other regions, and overseas at 34.9 billion, 49.9 billion, and 39.4 billion respectively, with year-on-year changes of -6.9%, -1.5%, and +1.9% [2]. - Channel-wise, direct sales, distributors, and other channels generated revenues of 27.6 billion, 95.7 billion, and 0.8 billion respectively, with year-on-year changes of -1.1%, -2.2%, and -13.1% [2]. Profitability Summary - The gross margin for 25H1 decreased by 1.0 percentage points to 18.9%, while the net profit margin and the non-recurring net profit margin were 1.7% and 2.0% respectively, both showing declines [3]. - The sales expense ratio for 25H1 decreased by 0.8 percentage points to 10.9%, indicating effective cost control [3]. - The management expense ratio also saw a decline, down by 0.4 percentage points to 3.3% in 25H1 [3]. Outlook and Valuation - The company anticipates a gradual recovery in overall dairy product demand, benefiting from a balanced supply-demand situation in the raw milk cycle starting in 2026 [4]. - The earnings per share (EPS) forecast for 2025-2027 is adjusted to 0.45, 0.48, and 0.52 yuan, reflecting slight changes from previous estimates [4]. - The target price is set at 9.90 yuan based on a price-to-earnings (PE) ratio of 22x for 2025, indicating a positive outlook for the company's stock [4].

Group 1 - The core viewpoint of the news highlights a decline in China's dairy product production, with a reported decrease of 3.6% year-on-year in July 2025, resulting in a total production of 221,000 tons [1] - From January to July 2025, the cumulative production of dairy products in China reached 16.592 million tons, reflecting a decrease of 1% compared to the previous year [1] Group 2 - The companies mentioned in the news include Yili Group (600887), Bright Dairy (600597), San Yuan (600429), New Dairy (002946), Huangshi Group (002329), Yantang Dairy (002732), Zhuangyuan Pasture (002910), and Pinwo Foods (300892) [1] - The report referenced is the "2025-2031 China Dairy Product Industry Market Operation Status and Investment Prospect Trend Report" published by Zhiyan Consulting [1]

Core Viewpoint - Bright Dairy's revenue and net profit decreased in the first half of 2025 compared to the same period in 2024, indicating challenges in the company's financial performance [1][2]. Financial Performance - In the first half of 2025, Bright Dairy reported a revenue of 12.47 billion yuan, a decrease of 1.9% year-on-year [2]. - The net profit attributable to shareholders was 217.24 million yuan, down 22.53% from the previous year [2]. - The net profit after deducting non-recurring gains and losses was 252 million yuan, reflecting a decline of 27.79% year-on-year [2]. - The total profit for the period was 270.81 million yuan, an increase of 14.55% compared to the same period last year [2]. Cash Flow - The net cash flow from operating activities was 417.24 million yuan, showing a significant increase of 82.28% year-on-year, attributed to relocation compensation received [2][3]. Regional Performance - Revenue from the Shanghai region was 3.49 billion yuan, down 6.93% year-on-year [5]. - Revenue from other regions was 4.99 billion yuan, a decrease of 1.52% [5]. - Revenue from overseas regions was 3.94 billion yuan, an increase of 1.92% [5]. Asset Overview - As of the end of June 2025, Bright Dairy's overseas assets amounted to 7.14 billion yuan, accounting for 31.49% of total assets [5]. - The overseas investment in New Zealand's New Lite, which primarily produces various dairy products, reported a revenue of 3.95 billion yuan but incurred a net loss of 63.46 million yuan in the first half of 2025 [6].

Core Viewpoint - The dairy industry is experiencing a significant divergence in performance, with leading companies like Yili achieving revenue growth while regional players face declining sales and profits [1][4][6]. Industry Overview - As of the end of August, all half-year reports for dairy listed companies in 2025 have been disclosed, revealing a stark contrast in performance amid weak demand [1]. - The industry is undergoing profound changes, shifting focus from scale expansion to quality and efficiency, emphasizing product innovation and quality improvement [2]. Performance Analysis - Among 21 major dairy listed companies, only 6 reported revenue growth, while 15 experienced declines [4]. - Yili's revenue reached 61.933 billion, marking a 3.37% increase, while Mengniu and Bright Dairy saw declines of 7.2% and 1.9%, respectively [5]. - The overall profitability of the industry is under pressure, with 7 companies reporting losses, including YouRan Dairy and Modern Dairy [6]. Business Segment Insights - Liquid milk, a traditional mainstay, continues to face challenges, with Yili's liquid milk revenue down 2.06% and Mengniu's down 11.22% [8]. - Conversely, the milk powder segment shows signs of recovery, with Yili's milk powder revenue increasing by 14.26% and Mengniu's by 2.46% [10]. Strategic Responses - Companies are enhancing cost control and efficiency to navigate challenges, with Mengniu improving its operating profit margin by 1.5 percentage points to 8.5% [13]. - There is a notable trend towards diversification and international expansion, with Yili's overseas business revenue growing by 14.4% [15]. - Regional companies are leveraging local advantages for differentiated development, with New Dairy reporting a 33.76% increase in net profit [14]. Future Trends - The dairy industry is expected to evolve towards high-end, functional, and segmented products, with a focus on infant formula and cheese [15]. - Internationalization will be a key strategy for leading dairy companies, enhancing their global competitiveness [15]. - Cross-industry integration is emerging as a trend, with a shift from merely selling products to providing health solutions [15].