光明乳业股份有限公司 2024 年度股东大会会议资料 二零二五年六月 目 录 | 一、 | 2024 年度股东大会现场会议议程 | 2 | | --- | --- | --- | | 二、 | 2024 年度股东大会现场会议须知 | 4 | | 三、 | 2024 年度股东大会投票注意事项 | 6 | | 四、 | 2024 年度董事会工作报告 | 9 | | 五、 | 2024 年度独立董事述职报告 | 18 | | 六、 | 2024 年度监事会工作报告 | 31 | | 七、 | 2024 年度财务决算及 2025 年度财务预算报告 | 36 | | 八、 | 2024 年度利润分配方案的提案 | 41 | | 九、 | 关于续聘 2025 年度财务审计和内控审计机构的提案 | 43 | | 十、 | 关于 2024 年度公司董事薪酬情况的提案 | 46 | | 十一、 | 关于 2024 年度公司监事薪酬情况的提案 | 47 | | 十二、 | 关于提请股东大会授权董事会设立专门委员会的提案 | 48 | | 十三、 | 关于光明乳业国际向中国建设银行和中国银行借款及由本公司提供担保 | | | 的提 ...

Group 1 - The article reviews the dairy market for Q1 2025, comparing it to Q1 2024 and Q4 2024, using data from the "马上赢" brand CT, which covers over 30,000 brands and more than 14 million product barcodes across major cities in China [1][2] - The dairy product categories include adult milk powder, pure milk, yogurt, cheese, and others, totaling ten third-level categories and 16 fourth-level categories [2][3] Group 2 - In Q1 2025, the market share of ambient pure milk remains dominant at approximately 51.61%, while low-temperature yogurt and ambient yogurt hold 14.27% and 12.47% respectively [5][6] - Low-temperature yogurt's market share increased by over 1% year-on-year, while ambient pure milk, ambient yogurt, and cheese experienced declines in both market share and sales [5][6] Group 3 - The analysis of key categories shows that ambient pure milk, low-temperature yogurt, and ambient yogurt account for over 91% of the dairy market share [6][7] - The sales performance of ambient pure milk and ambient yogurt has been particularly challenging, with sales down by over 13% year-on-year [7][8] Group 4 - The price index for dairy products indicates ongoing price pressure, with most categories remaining below the baseline of 100, suggesting a decline compared to the previous year [10][11] - The price index for ambient pure milk has been consistently lower than the overall dairy category, while low-temperature yogurt has shown more stability in its price index [10][11] Group 5 - The SKU analysis reveals that low-temperature yogurt has the highest number of SKUs, indicating active product innovation, while ambient pure milk has a high number of discontinued SKUs [13][15] - The average price trends for various categories show a mix of stability and decline, with many products experiencing price pressure [15][19] Group 6 - The CR5 market share for ambient pure milk is 88.28%, indicating a high concentration of market power among leading brands, although some brands have seen a decline in market share [22][24] - The adult milk powder category has a CR5 market share of 77.75%, with a notable presence of brands like Yili and Nestlé [45][46] Group 7 - The cheese category has a CR5 market share of 81.01%, with major players like Miaokelan and Yili showing growth in market share [52][54] - The average price and specifications for cheese products have shown a slight recovery in Q1 2025, although they remain lower than in Q1 2024 [53][54]

Core Insights - In 2024, China's total retail sales of consumer goods reached 48.79 trillion yuan, growing by 3.5%, marking the first time it fell below the GDP growth rate of 5% [1] - The fast-moving consumer goods (FMCG) industry is transitioning into a phase dominated by "stock competition," focusing on efficiency improvement, brand optimization, and structural adjustments [1] FMCG Company Performance - **Master Kong**: Achieved revenue of 806.51 billion yuan, a slight increase of 0.30%, with net profit rising by 19.80% to 37.34 billion yuan [2][6] - **Nongfu Spring**: Reported revenue of 428.96 billion yuan, up by 0.50%, and net profit of 121.23 billion yuan, a marginal increase of 0.40% [2][6] - **Uni-President**: Generated revenue of 303.32 billion yuan, a growth of 6.09%, with net profit of 18.49 billion yuan, increasing by 10.90% [2][6] - **China Foods**: Recorded revenue of 214.92 billion yuan, up by 0.20%, and net profit of 8.61 billion yuan, a growth of 3.40% [2][6] - **Eastroc Beverage**: Achieved significant growth with revenue of 158.39 billion yuan, up by 40.63%, and net profit of 33.27 billion yuan, increasing by 63.09% [2][6] - **Three Squirrels**: Reported revenue of 106.22 billion yuan, a substantial increase of 49.30%, with net profit rising by 85.51% to 4.08 billion yuan [2][6] Industry Trends - The FMCG sector is experiencing a shift towards efficiency and brand optimization as the era of rapid market growth driven by demographic dividends comes to an end [1] - Companies are adapting to market changes through product innovation, structural optimization, and brand rejuvenation to establish new growth curves and core competitiveness [13] - The beverage segment is seeing strong performance from Nongfu Spring's tea drinks, which have become a major revenue source despite challenges in the bottled water segment [8][13] - The snack segment is witnessing varied performance, with companies like Qinqin Foods achieving profitability through export and OEM manufacturing, while others like Liuyifei face challenges due to strategic adjustments [13] Dairy Industry Performance - **Yili Group**: Maintained its position as Asia's leading dairy company with revenue of 1,157.80 billion yuan, despite a decline of 8.24% [15][16] - **Mengniu Dairy**: Experienced a revenue drop of 10.09% to 886.75 billion yuan, with net profit significantly declining by 97.83% [15][16] - **Bright Dairy**: Reported revenue of 242.78 billion yuan, down by 8.33%, and net profit of 7.22 billion yuan, a decrease of 25.36% [15][16] - The dairy industry is facing challenges with supply-demand imbalances and declining consumer demand, leading to revenue declines for many traditional dairy giants [18]

Core Points - The candidate for the independent director position at Bright Dairy Co., Ltd. has declared their qualifications and independence, ensuring compliance with relevant laws and regulations [1][4] - The candidate possesses over five years of relevant work experience in legal, economic, accounting, financial, or management fields necessary for fulfilling independent director responsibilities [1] - The candidate confirms that they do not have any relationships that would affect their independence, including not being an employee or major shareholder of the company or its affiliates [1][3] Summary by Sections Qualifications - The candidate has participated in training and obtained certification recognized by the stock exchange [1] - The candidate meets the requirements set forth by various laws and regulations, including the Company Law of the People's Republic of China and the Management Measures for Independent Directors of Listed Companies [1] Independence - The candidate does not fall under any categories that would compromise their independence, such as being a major shareholder or having significant business relationships with the company [1][3] - The candidate has not been subject to any administrative or criminal penalties by the China Securities Regulatory Commission in the last 36 months [2][3] Commitment - The candidate acknowledges the responsibilities of an independent director and commits to providing accurate and truthful statements, understanding the consequences of false declarations [4] - The candidate promises to comply with all relevant laws, regulations, and stock exchange rules during their tenure [4]

Core Viewpoint - The company announces that its wholly-owned subsidiary, Bright Dairy International, is applying for loans from China Construction Bank and Bank of China, with the company providing guarantees for these loans to meet future business development funding needs [1][2]. Loan and Guarantee Overview - Bright Dairy International plans to borrow NZD 90 million (approximately CNY 387 million) from China Construction Bank and NZD 40 million (approximately CNY 172 million) from Bank of China, both with a one-year term and interest calculated at a floating rate of three-month BKBM + 0.75% [2][3]. - The company will provide joint liability guarantees for these loans [2]. Company Background - Bright Dairy International was established on September 30, 2010, with a registered capital of USD 46.75 million, located in Hong Kong, and is fully owned by Bright Dairy [2][3]. Financial Status of Bright Dairy International - As of April 30, 2025, Bright Dairy International had total assets of CNY 253.72 million, total liabilities of CNY 55.53 million, and net assets of CNY 198.19 million [3][4]. - The company reported a net profit of CNY 1.16 million for the period ending April 30, 2025 [3]. Guarantee Details - The total amount of the guarantee provided by the company for Bright Dairy International is NZD 130 million, with no overdue guarantees reported [3][6]. - The company has not provided any counter-guarantees for this loan [5]. Board Approval - The board of directors unanimously approved the proposal for the loans and guarantees, with all seven participating directors voting in favor [6]. Cumulative Guarantee Amount - After this guarantee, the cumulative external guarantee balance of the company and its subsidiaries will be approximately CNY 725.50 million, accounting for 7.66% of the company's latest audited net assets [6][7].

Meeting Information - The 2024 Annual General Meeting (AGM) of Bright Dairy will be held on June 23, 2025, at 13:30 in Shanghai [1][4] - Voting will be conducted through a combination of on-site and online methods [1][4] - The online voting system will be the Shanghai Stock Exchange's shareholder meeting online voting system, available from 9:15 to 15:00 on the day of the meeting [1][5] Voting Procedures - Shareholders can vote via the trading system or the internet voting platform, with specific instructions for identity verification for first-time users [5][6] - There are provisions for multiple accounts, ensuring that votes are counted correctly across all holdings [6] - Invalid votes will occur if shareholders exceed their voting rights or duplicate votes through different methods [6][7] Agenda Items - The AGM will review several proposals, including the reappointment of the financial audit and internal control audit institutions for 2025, and the authorization for the board to establish a special committee [2][10] - Proposals have been pre-approved by the board and supervisory committee, with details available in prior announcements [2][10] Attendance Requirements - Shareholders must be registered by the close of trading on June 16, 2025, to attend the meeting [7] - Both natural and legal persons must provide appropriate documentation to participate [7][8] Additional Information - The meeting is expected to last half a day, with attendees responsible for their own travel and accommodation costs [8] - Contact information for inquiries and registration is provided for shareholders [8]

十八次会议（以下简称"本次会议"）于 2025 年 5 月 30 日以通讯方式召开。本 次会议通知和会议材料于 2025 年 5 月 23 日以电子邮件方式发出。本次会议应参 加表决董事七人，实际参加表决董事七人，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 (一)审议通过《关于换届选举公司普通董事的议案》。 同意 7 票、反对 0 票、弃权 0 票。 证券代码：600597 证券简称：光明乳业 公告编号：临 2025-010 号 光明乳业股份有限公司 第七届董事会第二十八次会议决议公告 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。 一、董事会会议召开情况 光明乳业股份有限公司（以下简称"公司"、 "本公司"）第七届董事会第二 本议案已经公司第七届董事会提名委员会第九次会议审议通过。普通董事候 选人均符合相关法律、行政法规、规范性文件对董事任职资格的要求，不存在《公 司法》、公司《章程》规定的不得担任本公司董事的情形，未受到中国证券监督 管理委员会的行政处罚或证券交易所惩戒，不存在上海证券交易所认定不 ...

本人已经参加培训并取得证券交易所认可的相关培训证明材料。 二、本人任职资格符合下列法律、行政法规和部门规章以及公司规章的要 求： 光明乳业股份有限公司 独立董事候选人声明与承诺 本人赵子夜，已充分了解并同意由提名人光明乳业股份有限公司董事会提名 为光明乳业股份有限公司第八届董事会独立董事候选人。本人公开声明，本人具 备独立董事任职资格，保证不存在任何影响本人担任光明乳业股份有限公司独立 董事独立性的关系，具体声明并承诺如下： 一、本人具备上市公司运作的基本知识，熟悉相关法律、行政法规、部门规 章及其他规范性文件，具有 5 年以上法律、经济、会计、财务、管理或者其他履 行独立董事职责所必需的工作经验。 （一）《中华人民共和国公司法》关于董事任职资格的规定； （二）《中华人民共和国公务员法》关于公务员兼任职务的规定； （三）中国证监会《上市公司独立董事管理办法》、上海证券交易所自律监 管规则以及公司章程有关独立董事任职资格和条件的相关规定； （四）中共中央纪委、中共中央组织部《关于规范中管干部辞去公职或者退 （离）休后担任上市公司、基金管理公司独立董事、独立监事的通知》的规定； （五）中共中央组织部《关于进一步规 ...

,现 ,并 ,被 ,与 ,具 : ,熟 ,具 5年 : (一 )《 ; (二 )《 ; (三 )中 ; (四 )中 (离 )休 ; (五 )中 (任 ) ; (六 )中 ; (七)中国人民银行《股份制商业银行独立董事和外部监事制度指引》等的 相关规定: (八)中国证监会《证券基金经营机构董事、监事、高级管理人员及从业人 员监督管理办法》等的相关规定; (九)《银行业金融机构董事(理事)和高级管理人员任职资格管理办法》 《保险公司董事、监事和高级管理人员任职资格管理规定》《保险机构独立董事 管理办法》等的相关规定; (十)其他法律法规、部门规章、规范性文件和上海证券交易所规定的情形。 三、被提名人具备独立性,不属于下列情形: (一)在上市公司或者其附属企业任职的人员及其配偶、父母、子女、主要 社会关系(主要社会关系是指兄弟姐妹、兄弟姐妹的配偶、配偶的父母、配偶的父母、配偶的 兄弟姐妹、子女的配偶、子女配偶的父母等); (二)直接或者间接持有上市公司已发行股份 1%以上或者是上市公司前十 名股东中的自然人股东及其配偶、父母、子女; (三)在直接或者间接持有上市公司已发行股份 5%以上的股东或者在上市 公司前五名股 ...

光明乳业股份有限公司 独立董事候选人声明与承诺 本人毛惠刚，已充分了解并同意由提名人光明乳业股份有限公司董事会提名 为光明乳业股份有限公司第八届董事会独立董事候选人。本人公开声明，本人具 备独立董事任职资格，保证不存在任何影响本人担任光明乳业股份有限公司独立 董事独立性的关系，具体声明并承诺如下： 本人已经参加培训并取得证券交易所认可的相关培训证明材料。 二、本人任职资格符合下列法律、行政法规和部门规章以及公司规章的要 求： （一）《中华人民共和国公司法》关于董事任职资格的规定； （二）《中华人民共和国公务员法》关于公务员兼任职务的规定； （三）中国证监会《上市公司独立董事管理办法》、上海证券交易所自律监 管规则以及公司章程有关独立董事任职资格和条件的相关规定； （四）中共中央纪委、中共中央组织部《关于规范中管干部辞去公职或者退 （离）休后担任上市公司、基金管理公司独立董事、独立监事的通知》的规定； （五）中共中央组织部《关于进一步规范党政领导干部在企业兼职（任职） 问题的意见》的相关规定； 一、本人具备上市公司运作的基本知识，熟悉相关法律、行政法规、部门规 章及其他规范性文件，具有 5 年以上法律、经济、会 ...