中国乳业核心种源自主可控迈入新纪元！近日，全球奶牛育种权威榜单Top200TPI®Genomic Young Bulls国际公牛排行榜重磅揭晓——光明乳业旗下种公 牛"冠军侯"以全球第92名的优异成绩跻身百强，成为中国首个进入该榜单前100名的本土种公牛，创下"全国唯一""历史首次"双重里程碑。中国公牛综合育 种值（TPI）国际排名最高记录至此更新。 毫无疑问，"冠军侯"的诞生堪称中国奶业自主培育的"超算"。 "冠军侯"在为光明乳业产品质量升级提供核心支撑的同时，更打破了我国奶牛顶级种源瓶颈， 为国家奶业振兴注入了强大"种"动力。 要知道，公牛种源堪称乳业的"芯片"。因为优秀种牛不仅可以加快奶牛繁育进程，助力牧场高效完成高产牛群的迭代、中产牛群的改良，也能大幅提升奶牛 生产性能水平，推动产业提质增效。 此次首登国际百强，既是光明乳业依托全国唯一国家重点实验室创新育种技术突破"卡脖子"难题的实证，更宣告中国乳业正式打破核心种源难登国际育种之 林的桎梏，以自主可控的"中国芯"跻身全球种业竞争第一梯队。 中国种公牛首登国际百强,为奶业振兴注入强大"种"动力 Top200TPI®Genomic Young Bulls ...

Core Viewpoint - The financial reports of major food and beverage companies in China for 2024 show modest revenue growth, indicating a competitive landscape where established players are adapting to market changes and consumer preferences [1][4][9]. Group 1: Revenue Performance - Unified Enterprises China reported total revenue of 30.332 billion yuan, a year-on-year increase of 6.1% [1]. - Nongfu Spring's total revenue reached 42.896 billion yuan, growing by 0.5% year-on-year [1]. - Master Kong's revenue was 80.651 billion yuan, with a growth of 0.3% [1]. - China Foods reported 41.492 billion yuan in revenue, up 0.21% year-on-year [1]. - Haitian Flavoring's revenue was 26.901 billion yuan, reflecting a 9.53% increase [1]. - The revenue growth of these companies translates to significant absolute increases, with Unified Enterprises China adding 1.741 billion yuan, Master Kong adding 233 million yuan, and Nongfu Spring adding 229 million yuan compared to 2023 [1]. Group 2: Business Adaptation - Nongfu Spring experienced a 21.3% decline in its core bottled water segment, which dropped from 47.5% to 37.2% of total revenue, while its tea beverage segment grew by 32.3%, increasing its share from 29.7% to 39% [3][4]. - The shift in revenue sources illustrates how companies like Nongfu Spring are adapting to market fluctuations by reallocating resources to more profitable segments [3][4]. Group 3: Industry Trends - Companies with annual revenues exceeding 20 billion yuan are increasingly diversifying their business lines to maintain growth and fend off competition [4][5]. - The average revenue of companies in this category is significant, with the 500th ranked company on the China Private Enterprises 500 list having a revenue of 26.3 billion yuan [5]. - The historical context shows that these companies have evolved over decades, adapting to market changes and consumer demands, which has allowed them to emerge as industry leaders [5][6]. Group 4: Growth Strategies - The transition from "quantity" to "quality" in the consumer market from 2013 to 2024 highlights the need for companies to innovate and adapt to changing consumer preferences [8][9]. - The overall revenue of major food and beverage companies has shown slight fluctuations but maintains a growth trend, indicating resilience in the face of market challenges [9][10]. Group 5: Long-term Growth Metrics - The compound annual growth rate (CAGR) for major companies from 2013 to 2023 shows varied performance, with Nongfu Spring leading at 15.39% and others like Wahaha and China Wangwang showing negative growth [17][19]. - The average CAGR for the 14 companies analyzed is 6.48%, comparable to global top-tier companies during the same period [19][20]. Group 6: Market Expansion - Companies are increasingly looking to international markets for growth, with Wan Zhou International's acquisition of Smithfield Foods exemplifying a successful global expansion strategy [63]. - Mengniu's acquisition of the Southeast Asian ice cream brand Aice demonstrates the potential for growth in international markets [64].

Core Viewpoint - The demand for pasteurized milk in China is declining due to macroeconomic slowdown and consumer confidence issues, with projected consumption dropping to 1.7818 million tons and market size to 35.889 billion yuan in 2024 [1][8]. Overview - Pasteurized milk, also known as pasteurized milk or fresh milk, is produced from raw cow (or sheep) milk through pasteurization, retaining its nutritional value and natural flavor, making it popular among consumers [2]. - It requires refrigeration at around 4°C and has a short shelf life of 2-7 days. It can be categorized into whole, low-fat, and skimmed pasteurized milk based on fat content, and pure or flavored based on added ingredients [2]. Industry Policies - A series of policies have been implemented to support the dairy industry in China, including the "14th Five-Year Plan" for enhancing dairy competitiveness and various initiatives aimed at rural revitalization and high-quality development of the dairy sector [4][5]. Industry Chain - The upstream of the pasteurized milk industry includes milk sources (dairy cattle and sheep farming), production equipment, and packaging materials, while the downstream encompasses sales channels such as supermarkets, convenience stores, and e-commerce platforms [6][7]. Competitive Landscape - The market concentration of the pasteurized milk industry in China has increased, with leading companies like Bright Dairy, Mengniu Dairy, and New Hope Dairy holding over 70% of the market share. Bright Dairy has the largest share at 18.5%, followed by Mengniu Dairy at 12.6% [10]. - Bright Dairy's revenue for the first half of 2024 reached 12.71 billion yuan, with liquid milk accounting for 61.16% of sales [12]. - Mengniu Dairy reported a revenue of 44.67 billion yuan in the first half of 2024, with a gross profit of 17.98 billion yuan and a gross margin of 40.26% [14]. Development Trends - The competition in the pasteurized milk market is expected to intensify, leading companies to focus on product differentiation. Brands will likely introduce unique products such as functional and organic pasteurized milk, along with innovative forms and flavors to cater to younger consumers [16].

百年乳企光明乳业"花开"春糖，创新产品闪耀国际舞台 3月25日-27日，第112届全国糖酒商品交易会在成都盛大开幕。百年乳企光明乳业以"花开见光明"为主题惊艳亮相，通过创 新产品展示、沉浸式品牌体验和线上线下联动，向业界与消费者展现了深厚的品牌底蕴与蓬勃的创新活力，共同感受百年 乳企在乳制品行业的"领鲜"实力。 三款新品入围大赛，光明乳业引领健康消费趋势 乳制品始终承载着提升国民健康水平的重大使命。光明乳业时刻倾听消费者心声，聚焦营养与健康，用科技创新赋能鲜活 产品力，推出了大量能满足人民美好生活需求的产品。在本次春糖首次举办的"IDEAS创新产品大赛"中，光明乳业旗下三款 酸奶、奶酪产品凭借卓越品质与差异化优势成功入围。 光明莫斯利安轻酸奶，精准契合当下消费者对健康与美味的双重追求，在原有配方基础上进行升级优化，减少25%蔗糖，每 瓶含有3.2g膳食纤维，营养轻负担，颠覆传统口感，满足健康与美味的双重需求，为常温酸奶市场注入新活力。光明优倍浓 醇高钙奶酪棒，以优倍浓醇牛奶为原料，创新雪花棒设计，兼具营养与趣味，打破了传统干酪的形式束缚，重新定义休闲 零食，满足消费者随时随地享受营养美味的需求。小西牛青稞黑米 ...

联袂科技巨擘，"一夜好眠"送上门 光明乳业推出了"7天舒睡挑战——失眠星人召集令"活动，并与鲸鸿动能合作，依托华为的全场景生态触点、光明随心订的微博和抖 音账号、线下新鲜屋门店以及相关专场活动，同步招募10000人参与。活动将鼓励有睡眠困扰的用户持续饮用舒睡牛奶，亲身体验其 助眠作用，并通过数据反哺机制，推动光明乳业的研发团队不断优化产品，为消费者提供更加科学、更加个性化的健康解决方案。 在"超值尝鲜"福利中，消费者通过光明随心订，只要花9.9元，就能体验7日装舒睡奶；在"首单专享"活动中，新用户能获得尝鲜体 验价，订购30天舒睡奶只要199元；而在"连订有礼"活动，消费者连续订购180天，就有机会获得华为手环。 光明乳业推出的"万人数智舒睡体验计划"充分利用鸿蒙生态全场景触点，通过围绕睡眠场景的线上线下营销共创，让传统乳业与营 销创新碰撞出新的火花。双方合作依托华为浏览器、华为天气、华为主题、华为阅读等媒体资源的优质触点，旨在精准对接睡眠场 景的目标用户，通过数据分析优化触达策略，为他们提供科学的睡眠改善方案，也帮助更多消费者体验到乳制品带来的健康助眠效 果。其中，借助鲸鸿动能的"鲸鸿指数"智能分析工具，还 ...

Company Overview - Bright Dairy adheres to the mission of "serving the nation through dairy" and "protecting the national physique," deepening its "Fresh Leadership" strategy and driving brand growth through diversified development paths [1] - As a leading domestic high-end dairy product company, Bright Dairy aims to cultivate new productive forces, enhance market competitiveness, and contribute to the sustainable and high-quality development of the industry [1] Innovation and Technology - Bright Dairy leverages its national key laboratory to drive technological innovation, focusing on meeting national and consumer needs and promoting the industrial transformation of research results [2] - The company has established a leading domestic lactic acid bacteria resource library and launched a series of market-leading products [2] - In 2024, Bright Dairy introduced over 40 new products, covering multiple categories such as milk, yogurt, and nutritional products, to meet diverse consumer needs [9] - The company launched the "Bright Yoube 5.0 Ultra-Fresh Milk" with 300mg/l of active immunoglobulin and 170mg/100ml of native calcium, 41.6% higher than the international standard of 120mg/ml [4] - Bright Dairy employs advanced NF+MF membrane technology to concentrate nutrients, reduce sodium content, and offer high-nutrition, low-burden products [4] Brand and Marketing - Bright Dairy emphasizes its "Fresh Vitality" brand characteristic, reflecting its leadership and innovation in the dairy industry [3] - The company integrates cultural innovation into marketing, collaborating with cultural institutions like the Shanghai Museum and participating in events such as the Shanghai International Art Festival [6] - Bright Dairy engages in sports marketing, leveraging events like the Paris Olympics and Shanghai Tennis Masters to enhance brand influence [18] - The company also explores digital assets, combining traditional culture with cutting-edge technology to create innovative digital products [12] Sustainability and Social Responsibility - Bright Dairy pioneered a nationwide milk carton recycling program, expanding to plastic bottle recycling and covering 90 cities by 2024, with over 992,000 cartons recycled and 580,000 participants [8] - The company launched the "Bright Warmth Yunnan Children" charity project, donating milk and children's growth formula to support rural revitalization in Yunnan Province [8] - Bright Dairy's "Community Love Initiative" involved distributing high-quality fresh milk to residents, fostering a win-win interaction between the company and the community [10] Future Outlook - Bright Dairy plans to continue upgrading products and services, focusing on innovation and craftsmanship to create higher-quality dairy products [17] - The company aims to strengthen its brand through cross-border collaborations and cultural dissemination, building a unique core brand asset [17] - Bright Dairy is committed to fulfilling its new mission in the era of comprehensive revitalization of China's dairy industry [19]

光明乳业股份有限公司（以下简称"本公司"）原主要办公所在地吴中路 578 号、580 号两地块（闵行区虹桥镇 25d-02、25-04 地块）已被列入上海市闵行区 土地收储计划，本公司与上海市闵行区虹桥镇动拆迁办公室签订《虹桥镇25d-02、 25d-04 地块国有土地上非居住房屋协商搬迁补偿协议》（详见刊登于 2019 年 3 月 26 日《中国证券报》《上海证券报》《证券时报》及上海证券交易所网站 www.sse.com.cn 上的相关公告）。本公司已完成搬迁工作（详见刊登于 2024 年 12 月 20 日《中国证券报》《上海证券报》《证券时报》及上海证券交易所网站 www.sse.com.cn 上的相关公告）。 近日，公司收到了《房屋搬迁腾空移交清单》。本公司将按照《企业会计准 则》的相关规定，对土地收储补偿款进行相应的会计处理，预计为本公司 2024 年度带来税前收益约人民币 7.8 亿元。具体会计处理和对相关财务数据影响，须 以审计机构年度审计确认的结果为准。 敬请广大投资者理性投资，注意投资风险。 证券代码：600597 证券简称：光明乳业 公告编号：临 2024-053 号 光明乳业股份有限公 ...

德恒上海律师事务所 关于光明乳业股份有限公司 2024 年第二次临时股东大会的 法律意见 德恒上海律師事務所 DEHENG SHANGHAI LAW OFFICE 上海市东大名路 501 号上海白玉兰广场办公楼 23 层 电话：21 5598 9888 / 9666 传真：21 5598 9898 邮编：200080 德恒上海律师事务所 关于光明乳业股份有限公司 2024 年第二次临时股东大会的法律意见 德恒上海律师事务所 关于光明乳业股份有限公司 2024 年第二次临时股东大会的 法律意见 德恒 02G20230383-00003 号 致：光明乳业股份有限公司 德恒上海律师事务所（以下简称"本所"）接受光明乳业股份有限公司（以 下简称"公司"）委托，就公司召开 2024 年第二次临时股东大会（以下简称"本 次股东大会"）所涉及的召集、召开程序，召集人资格和出席会议人员的资格、 表决程序及表决结果等进行见证并出具法律意见。 本法律意见依据《中华人民共和国公司法》（以下简称"《公司法》"）、 《中华人民共和国证券法》（以下简称"《证券法》"）、《上市公司股东大会 规则（2022 年修订）》（以下简称"《股东大会 ...

证券代码：600597 证券简称：光明乳业 公告编号：2024-052 号 光明乳业股份有限公司 2024 年第二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提案：无 一、会议召开和出席情况 (一)股东大会召开的时间：2024 年 12 月 26 日 (二)股东大会召开的地点：上海市徐汇区漕溪北路 595 号 A 栋五楼多功能厅 (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 | 746 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 745,943,763 | | 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 | 54.1137 | | 份总数的比例（%） | | (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。 本次股东大会现场会议由董事长黄黎明先生主持，采用记名投票方式对提案 进行表决，符合《公司法》及《公司章程》的规定。 (五)公司 ...

光明乳业股份有限公司董事会 本公司主要办公地址从上海市闵行区吴中路 578 号变更为上海市徐汇区宜山 路 829 号 1 号楼。本公司电话总机仍为：021-54584520。本公司投资者热线变更 为：021-64655801、021-64307739，原投资者热线 021-54584520 分机 5277/5623 不再使用。邮箱仍为：600597@brightdairy.com。传真仍为：021-64013337。 敬请广大投资者留意。 特此公告。 证券代码：600597 证券简称：光明乳业 公告编号：临 2024-051 号 光明乳业股份有限公司 关于变更主要办公地址的公告 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。 光明乳业股份有限公司（以下简称"本公司"）原主要办公所在地吴中路 578 号、580 号两地块（闵行区虹桥镇 25d-02、25-04 地块）已被列入上海市闵行区 土地收储计划，本公司与上海市闵行区虹桥镇动拆迁办公室签订《虹桥镇25d-02、 25d-04 地块国有土地上非居住房屋协商搬迁补偿协议》（详见 ...