光明乳业股份有限公司 2024 年度涉及财务公司关联交易的存款、贷款等金融业务汇总表的 专项说明 KPMG Huazhen LLP 8th Floor, KPMG Tower Oriental Plaza 1 East Chang An Avenue Beijing 100738 China Telephone +86 (10) 8508 5000 Fax +86 (10) 8518 5111 Internet kpmg.com/cn 毕马威华振会计师事务所 (特殊普通合伙) 中国北京 东长安街 1 号 东方广场毕马威大楼 8 层 邮政编码:100738 电话 +86 (10) 8508 5000 传真 +86 (10) 8518 5111 网址 kpmg.com/cn 关于光明乳业股份有限公司 2024 年度涉及财务公司关联交易的存款、贷款等金融业务汇总表的专项说明 毕马威华振专字第 2503224 号 光明乳业股份有限公司董事会： 我们接受委托，按照中国注册会计师审计准则审计了光明乳业股份有限公司 (以下简称 "光明乳业") 2024 年度的财务报表，包括 2024 年 12 月 31 日的合并及母公司资 ...

光明乳业股份有限公司 在 2024 年度审计过程中，毕马威华振依据公司的服务需求及实际情况，制 定了全面、可行性强、且先进、高效的审计工作方案。并针对审计人员的独立性、 人员构成、审计计划、审计范围、风险判断、风险及舞弊的测试和评价方法、年 1 度审计重点、初审意见等与公司管理层和治理层进行了沟通。 毕马威华振全面配合公司的审计工作，充分满足了公司报告披露的时间要求。 毕马威华振制定了详细的审计计划与时间安排，并且能够根据计划安排按时提交 各项工作。 关于 2024 年度会计师事务所履职情况评估报告 根据《国有企业、上市公司选聘会计师事务所管理办法》的要求，光明乳业 股份有限公司（以下简称"本公司"、"公司"）对公司 2024 年度的审计机构毕马 威华振会计师事务所（特殊普通合伙）（以下简称"毕马威华振"）的履职情况作 出如下评估： 一、会计师事务所基本情况 毕马威华振会计师事务所于 1992 年 8 月 18 日在北京成立，于 2012 年 7 月 5 日获财政部批准转制为特殊普通合伙的合伙制企业，更名为毕马威华振会计师 事务所（特殊普通合伙），2012 年 7 月 10 日取得工商营业执照，并于 2012 ...

公司代码：600597 公司简称：光明乳业 光明乳业股份有限公司 2024年度内部控制评价报告 光明乳业股份有限公司全体股东： 根据《企业内部控制基本规范》及其配套指引的规定和其他内部控制监管要求（以下简称企业内部 控制规范体系），结合本公司（以下简称公司）内部控制制度和评价办法，在内部控制日常监督和专项 监督的基础上，我们对公司2024年12月31日（内部控制评价报告基准日）的内部控制有效性进行了评价。 一. 重要声明 按照企业内部控制规范体系的规定，建立健全和有效实施内部控制，评价其有效性，并如实披露内 部控制评价报告是公司董事会的责任。监事会对董事会建立和实施内部控制进行监督。经理层负责组织 领导企业内部控制的日常运行。公司董事会、监事会及董事、监事、高级管理人员保证本报告内容不存 在任何虚假记载、误导性陈述或重大遗漏，并对报告内容的真实性、准确性和完整性承担个别及连带法 律责任。 公司内部控制的目标是合理保证经营管理合法合规、资产安全、财务报告及相关信息真实完整，提 高经营效率和效果，促进实现发展战略。由于内部控制存在的固有局限性，故仅能为实现上述目标提供 合理保证。此外，由于情况的变化可能导致内部控 ...

光明乳业股份有限公司 关于对光明食品集团财务有限公司的风险持续评估报告 按照《上海证券交易所上市公司自律监管指引第 5 号——交易与关联交易》 等相关工作要求，光明乳业股份有限公司（以下简称"本公司"）通过查验光明 食品集团财务有限公司（以下简称"光明财务公司"）《金融许可证》《企业法人 营业执照》等证件资料，并审阅了光明财务公司截至 2024 年第四季度的财务报 表（未经审计），对光明财务公司的经营资质、业务开展和内部控制等风险管理 体系的制定及实施情况进行了评估。具体情况如下： 一、光明财务公司基本情况 光明财务公司成立于 2014 年 12 月 29 日，是经中国银行保险监督管理委员 会批准成立的非银行金融机构。 注册地址：上海市静安区南京西路 1539 号办公楼二座 33 层 法定代表人：沈军 企业法人营业执照注册号：91310106324270568D 税务登记证号码：91310106324270568D （一）股东情况 光明财务公司注册资本金 20 亿元（人民币，下同），其中：光明食品（集团） 有限公司为 51%，上海轻工业对外经济技术合作有限公司为 39%，上海大都市资 产经营管理有限公司为 1 ...

证券代码：600597 证券简称：光明乳业 编号：临 2025-002 号 光明乳业股份有限公司 第七届监事会第十五次会议决议公告 本公司监事会及全体监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、监事会会议召开情况 光明乳业股份有限公司（以下简称"公司"、"本公司"）第七届监事会第 十五次会议（以下简称"本次会议"）于 2025 年 4 月 28 日在上海市宜山路 829 号 1 号楼本公司会议室以现场表决方式召开。本次会议通知和会议材料于 2025 年 4 月 18 日以电子邮件方式发出。本次会议应到监事三人，亲自出席会议监事 三人。本次会议由监事会主席张宇桢女士主持。本次会议的召开符合相关法律、 法规以及公司《章程》的规定。 二、监事会会议审议情况 1、审议通过《2024 年度监事会工作报告》。 同意 3 票、反对 0 票、弃权 0 票。 本议案需提交 2024 年度股东大会审议。 2、审议通过《关于计提资产减值准备的议案》。 同意 3 票、反对 0 票、弃权 0 票。 监事会认为：本次计提资产减值准备符合《企业会计准则》及其他相关法 ...

光明乳业股份有限公司（以下简称"公司"、"本公司"）第七届董事会第二 十七次会议（以下简称"本次会议"）于 2025 年 4 月 28 日在上海市宜山路 829 号 1 号楼本公司会议室以现场表决方式召开。本次会议通知和会议材料于 2025 年 4 月 18 日以电子邮件方式发出。本次会议应参加表决董事七人，亲自或委托 出席会议董事七人，董事陆琦锴先生因公未能亲自出席本次会议，委托董事长黄 黎明先生出席并行使表决权；独立董事毛惠刚先生因公未能亲自出席本次会议， 委托独立董事高丽女士出席并行使表决权。本次会议出席人数符合《公司法》以 及本公司《章程》有关召开董事会会议法定人数的规定。本次会议由董事长黄黎 明先生主持，公司监事和高级管理人员列席本次会议。本次会议的召开符合相关 法律、法规以及公司《章程》的规定。 二、董事会会议审议情况 证券代码：600597 证券简称：光明乳业 公告编号：临 2025-001 号 光明乳业股份有限公司 第七届董事会第二十七次会议决议公告 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、准确性和完整性承担法律责任。 重要内容提示 ...

证券代码：600597 证券简称：光明乳业 公告编号：临 2025-004 号 光明乳业股份有限公司 2024 年度利润分配预案的公告 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： 每股分配比例：每股派发现金红利 0.16 元（含税）。 拟以实施 2024 年度权益分派股权登记日登记的总股本为基数向全体股 东每股派现金红利，具体日期将在权益分派实施公告中明确。在实施权益分派的 股权登记日前总股本发生变动的，拟维持每股分配比例不变，相应调整分配总额， 并将另行公告具体调整情况。 本利润分配预案未触及《上海证券交易所股票上市规则（2024 年 4 月修 订）》（以下简称《股票上市规则》）第 9.8.1 条第一款第（八）项规定的可能被 实施其他风险警示的情形。 本利润分配预案尚需股东大会审议通过。 一、利润分配方案内容 公司拟向全体股东每股派发现金红利 0.16 元（含税）。截至 2025 年 4 月 28 日，公司总股本 1,378,473,763 股，以此计算合计拟派发现金红利 220,555,803 元（含税 ...

Financial Performance - The company's operating revenue for Q1 2025 was CNY 6,368,233,484, a decrease of 0.76% compared to CNY 6,417,076,216 in the same period last year[5]. - Net profit attributable to shareholders was CNY 141,037,966, down 18.16% from CNY 172,327,245 year-on-year[5]. - The net profit after deducting non-recurring gains and losses increased by 2.45% to CNY 190,130,193 from CNY 185,574,693 in the previous year[5]. - Basic and diluted earnings per share were both CNY 0.10, a decrease of 23.08% from CNY 0.13 in the same period last year[5]. - Total revenue for Q1 2025 was CNY 6,368,233,484, a decrease of 0.76% compared to CNY 6,417,076,216 in Q1 2024[18]. - Net profit for Q1 2025 was CNY 152,128,472, slightly up from CNY 149,418,346 in Q1 2024, indicating stable profitability[19]. - Earnings per share for Q1 2025 was CNY 0.10, compared to CNY 0.13 in Q1 2024, showing a decline in earnings per share[20]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 22,151,586,673, a decrease of 3.40% from CNY 22,931,249,017 at the end of the previous year[5]. - Total assets as of March 31, 2025, were CNY 22,151,586,673, a decrease from CNY 22,931,249,017 at the end of 2024[16]. - Total liabilities decreased to CNY 10,808,383,352 from CNY 11,842,238,051, indicating improved financial stability[16]. - Cash and cash equivalents decreased to CNY 2,562,666,710 from CNY 2,976,533,645, reflecting tighter liquidity[14]. - Inventory increased to CNY 3,214,065,927 from CNY 3,078,419,600, suggesting potential challenges in inventory management[15]. Cash Flow - The net cash flow from operating activities improved significantly, with a net cash inflow of CNY -204,984,830 compared to CNY -393,532,401 in the same period last year[5][8]. - Cash inflow from sales and services in Q1 2025 was $6,525,885,259, an increase from $6,325,895,348 in Q1 2024, representing a growth of approximately 3.2%[22]. - Net cash flow from operating activities in Q1 2025 was -$204,984,830, an improvement compared to -$393,532,401 in Q1 2024[22]. - Cash inflow from financing activities in Q1 2025 was $1,047,134,203, significantly higher than $50,000,000 in Q1 2024[22]. - Net cash flow from investment activities in Q1 2025 was $200,947,809, a recovery from -$196,895,975 in Q1 2024[22]. - The total cash and cash equivalents at the end of Q1 2025 stood at $2,562,610,469, compared to $2,349,953,221 at the end of Q1 2024[23]. - Cash outflow for purchasing goods and services in Q1 2025 was $5,246,629,445, up from $5,075,553,525 in Q1 2024[22]. - The company reported a decrease in cash paid to employees in Q1 2025, totaling $714,951,945, compared to $837,331,518 in Q1 2024[22]. - Cash outflow for debt repayment in Q1 2025 was $1,366,262,021, compared to $191,745,927 in Q1 2024, indicating increased debt servicing[22]. - The net decrease in cash and cash equivalents for Q1 2025 was -$413,866,935, an improvement from -$923,583,508 in Q1 2024[23]. - The company experienced a foreign exchange loss of -$774,464 in Q1 2025, compared to -$2,711,497 in Q1 2024[23]. Shareholder Information - The largest shareholder, Bright Food (Group) Co., Ltd., holds 51.64% of the shares, totaling 711,860,596 shares[11]. Government Subsidies and Expenses - The company received CNY 14,150,484 in government subsidies related to its normal business operations[7]. - Total operating costs for Q1 2025 were CNY 6,125,156,768, down from CNY 6,216,856,833 in Q1 2024, reflecting a cost reduction strategy[18]. - Research and development expenses rose to CNY 26,878,784 in Q1 2025 from CNY 20,065,431 in Q1 2024, highlighting a focus on innovation[19]. - The company reported a significant increase in other comprehensive income, with a net amount of CNY 105,258,385 in Q1 2025 compared to a loss of CNY 386,133,974 in Q1 2024[19].

Financial Performance - The company's operating revenue for 2024 was RMB 24,277,783,283, a decrease of 8.33% compared to RMB 26,485,200,199 in 2023[21]. - The net profit attributable to shareholders for 2024 was RMB 722,044,680, down 25.36% from RMB 967,330,384 in 2023[21]. - The cash dividend proposed for 2024 is RMB 0.16 per share, with a total distribution of RMB 220,555,803, representing 30.55% of the net profit attributable to shareholders[5]. - The net cash flow from operating activities for 2024 was RMB 1,254,574,290, a decline of 14.33% from RMB 1,464,349,957 in 2023[21]. - The total assets as of the end of 2024 were RMB 22,931,249,017, a decrease of 5.35% from RMB 24,227,319,907 in 2023[21]. - Basic earnings per share for 2024 were RMB 0.52, down 25.71% from RMB 0.70 in 2023[22]. - The weighted average return on equity for 2024 was 7.85%, a decrease of 3.59 percentage points from 11.44% in 2023[22]. - The company reported a significant drop in net profit after deducting non-recurring gains and losses, with a basic earnings per share of RMB 0.12, down 68.42% from RMB 0.38 in 2023[22]. Revenue Breakdown - In Q1 2024, the company reported revenue of CNY 6,417,076,216, while Q2 revenue was CNY 6,296,635,863, indicating a slight decline of 1.88%[24]. - The dairy manufacturing segment generated revenue of 21.96 billion, down 4.56%, with a gross margin of 20.01%, a decrease of 1.30 percentage points[47]. - The livestock segment's revenue fell by 41.74% to 1.02 billion, with a gross margin of -4.75%, down 9.03 percentage points[48]. - Liquid milk revenue decreased by 9.47% to 14.17 billion, with a gross margin of 26.46%, down 0.14 percentage points[48]. - Revenue from other dairy products increased by 5.87% to 7.79 billion, but the gross margin decreased by 1.76 percentage points to 8.27%[48]. - Revenue from Shanghai decreased by 5.39% to 6.73 billion, while revenue from other regions fell by 14.73% to 9.99 billion[49]. Operational Efficiency and Strategy - The company is focusing on enhancing operational efficiency through industry chain integration and innovation to adapt to market changes and consumer demands[29]. - The company operates a comprehensive supply chain, including dairy farming, product development, processing, and logistics, ensuring high-quality product delivery[32]. - The company is committed to digital transformation and technological innovation to improve management and operational capabilities[30]. - The company has enhanced its supply chain efficiency through regional production and sales integration projects, leading to significant cost reductions[40]. - The company is focusing on digital transformation to improve operational efficiency and data accuracy, implementing technologies like workflow management systems and RPA[42]. Research and Development - The company applied for 80 national patents in 2024, including 67 invention patents, and was granted 41 national invention patents[40]. - Research and development expenses increased by 58.72% to 136.81 million, primarily due to increased factory R&D projects[46]. - New product development initiatives are underway, with an investment of 1,009.14 million allocated for research and development in innovative technologies[106]. Corporate Governance - The company strictly adheres to the Company Law and Securities Law, ensuring equal rights for all shareholders, particularly minority shareholders[99]. - The board of directors and supervisory board operate independently, with no interference from the controlling shareholder[99]. - The company has revised its articles of association and governance rules to enhance corporate governance practices[100]. - The total pre-tax remuneration for the chairman is approximately CNY 1.73 million, while the deputy general manager's remuneration is around CNY 1.14 million[103]. Environmental and Social Responsibility - The company is committed to sustainable development practices, integrating sustainability into its operational decisions[94]. - The company has established a comprehensive food safety management system to ensure product quality and consumer health[96]. - The company has established environmental protection mechanisms and complies with relevant regulations as a key pollutant discharge unit[141]. - The company reduced carbon emissions by 10,510.84 tons during the reporting period through various carbon reduction measures[153]. - The company provided employment opportunities for approximately 53,000 person-times through temporary employment in rural areas[158]. Future Outlook - The company aims to achieve total revenue of 24.278 billion yuan in 2024, with a completion rate of 83.63%, and a net profit of 722 million yuan, exceeding the target by 127.34%[92]. - The company plans to reach total revenue of 26.196 billion yuan and a net profit of 339 million yuan in 2025, with a fixed asset investment of approximately 406 million yuan[92]. - The company plans to expand its market presence by increasing its product offerings and enhancing distribution channels, targeting a 10% growth in market share over the next fiscal year[105]. Shareholder Information - The largest shareholder, Bright Food (Group) Co., Ltd., holds 711,860,596 shares, representing 51.64% of the total shares[194]. - The total number of shares held by the top ten shareholders is 751,000,000, which constitutes 53.98% of the total share capital[194]. - The shareholding structure indicates a significant concentration of ownership among the top shareholders, with the largest shareholder holding over 50%[194].

光明乳业股份有限公司 自 2024 年 1 月 1 日 至 2024 年 12 月 31 日止年度财务报表 KPMG Huazhen LLP 8th Floor, KPMG Tower Oriental Plaza 1 East Chang An Avenue Beijing 100738 China Telephone +86 (10) 8508 5000 Fax +86 (10) 8518 5111 Internet kpmg.com/cn 毕马威华振会计师事务所 (特殊普通合伙) 中国北京 东长安街 1 号 东方广场毕马威大楼 8 层 邮政编码:100738 电话 +86 (10) 8508 5000 传真 +86 (10) 8518 5111 网址 kpmg.com/cn 审计报告 毕马威华振审字第 2514425 号 光明乳业股份有限公司全体股东： 一、审计意见 我们审计了后附的光明乳业股份有限公司(以下简称"光明乳业") 财务报表，包括 2024年 12 月 31 日的合并及母公司资产负债表，2024 年度的合并及母公司利润表、合并及母公司现金 流量表、合并及母公司股东权益变动表以及相关财务报表附 ...