Core Viewpoint - The performance of Xiaoxiniu has not met previous commitments due to multiple factors including oversupply in the dairy industry, declining consumer demand, and a shrinking liquid milk market [1][2]. Group 1: Company Performance - Xiaoxiniu achieved a revenue of 353.09 million yuan from January to August 2025, representing a 16.48% decrease compared to the same period last year, primarily due to declines in sales price and volume [1]. - The prolonged negotiations regarding the acquisition of 40% of Xiaoxiniu's shares have distracted the former general manager, leading to concerns among stakeholders about future development, which has temporarily impacted overall business performance [2]. Group 2: Market Environment - In the medium to long term, the dairy industry is expected to stabilize and grow due to upgrading consumer structures and increasing health awareness [2]. - The per capita dairy consumption in the western region is only 8.94 kg, significantly lower than the national average, indicating substantial growth potential as urbanization progresses [2]. Group 3: Strategic Acquisition - Xiaoxiniu is a leading enterprise in the Qinghai dairy industry, accounting for over 60% of the province's liquid milk production, positioning it well for future growth as consumption recovers in the western region [2]. - The acquisition aims to integrate Xiaoxiniu's quality milk resources, enhance production capacity in the west, and expand market presence in the northwest, aligning with the company's long-term strategic goals [3]. - Xiaoxiniu has established a strong market presence in Qinghai, and the acquisition will allow the company to leverage its distribution channels to enhance sales of Xiaoxiniu products in the East China region [3].

Core Viewpoint - The company, Bright Dairy, announced the approval of a proposal to hold the first extraordinary shareholders' meeting in 2026 by its eighth board of directors' seventh meeting [2] Group 1 - The announcement was made on January 9, indicating the company's ongoing governance activities [2] - The decision reflects the company's commitment to maintaining shareholder engagement and transparency [2]

Core Viewpoint - The company, Bright Dairy (600597), announced that it will hold its first extraordinary general meeting of shareholders on January 26, 2026 [1] Group 1 - The company is scheduled to convene a shareholder meeting [1]

Core Viewpoint - The announcement by Bright Dairy on January 9 indicates a change in the board of directors, with Zhang Yuzhen being recommended to replace Lu Qikai as an ordinary director due to the work arrangements of the controlling shareholder, Bright Food (Group) Co., Ltd. [1] Group 1 - Bright Dairy announced the recommendation of Zhang Yuzhen to take over the position of ordinary director from Lu Qikai [1] - Lu Qikai has applied to resign from his positions as an ordinary director, a member of the strategy committee, and a member of the audit committee of the eighth board of directors [1]

证券代码：600597 证券简称：光明乳业 公告编号：临 2026-005 号 光明乳业股份有限公司 关于上海证券交易所监管工作函的回复 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"光明乳业"、"公司"或"本公司"） 于近日收到上海证券交易所下发的《关于光明乳业股份有限公司收购控股子公司 少数股权相关事项的监管工作函》（上证公函【2025】3981 号（以下简称《工 作函》），公司已就《工作函》关注的相关问题逐项进行认真落实。公司现就青 海小西牛生物乳业股份有限公司(以下简称"小西牛"、"标的"、"标的公司" 或"目标公司")股份收购的相关问题回复如下： 一、关于收购少数股权的必要性与合理性。根据公告，2021 年 11 月，公司在收 购小西牛控制权协议中，约定了交易双方分别享有标的剩余股权购买和出售选 择权。如小西牛业绩承诺期 2022 年至 2024 年平均扣非净利润不低于 7219 万元， 可按照 15 倍 PE 行使前述选择权。小西牛实际业绩超过前述指标，但 2023 年、 2024 ...

证券代码：600597 证券简称：光明乳业 公告编号：临 2026-002 号 光明乳业股份有限公司 关于董事辞职及补选董事的公告 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。 因光明乳业股份有限公司（以下简称"本公司"或"公司"）控股股东光明 食品（集团）有限公司（以下简称"光明食品集团"）的工作安排，推荐张宇桢 女士接替陆琦锴先生担任本公司普通董事。陆琦锴先生申请辞去公司第八届董事 会普通董事、第八届董事会战略委员会委员、第八届董事会审计委员会委员职务。 具体情况如下： 一、董事离任情况 (一)提前离任的基本情况 | | | | | | 是否继 续在上 | 具体职 | 是否存 在未履 | | --- | --- | --- | --- | --- | --- | --- | --- | | 姓名 | 离任职务 | 离任时间 | 原定任期到期日 | 离任原因 | 市公司 | 务（如 | 行完毕 | | | | | | | 及其控 股子公 | 适用） | 的公开 承诺 | | | 第八届董事会普 | | | | 司任职 | ...

光明乳业股份有限公司董事会 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"）已于近日完成搬迁工作。本 次搬迁不涉及产能搬迁，不会影响本公司正常生产经营。 本公司主要办公地址从上海市徐汇区宜山路 829 号 1 号楼变更为上海市闵行 区合川路 2680 号。本公司电话总机仍为：021-54584520，投资者热线仍为： 021-64655801、021-64307739，邮箱仍为：600597@brightdairy.com。 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 2026-004 号 光明乳业股份有限公司 关于变更主要办公地址的公告 二零二六年一月九日 1 ...

证券代码：600597 证券简称：光明乳业 公告编号：临 2026-003 号 光明乳业股份有限公司 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： 一、召开会议的基本情况 (一) 股东会类型和届次 2026年第一次临时股东会 召开的日期时间：2026 年 1 月 26 日 14 点 00 分 召开地点：上海市闵行区合川路 2680 号 1 楼会议室 (五) 网络投票的系统、起止日期和投票时间。 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 1 月 26 日 至2026 年 1 月 26 日 1 1、各提案已披露的时间和披露媒体 上述提案 1 已经公司第八届董事会第七次会议审议通过。详见 2026 年 1 月 10 日，刊登于《中国证券报》《上海证券报》《证券时报》和上海证券交易所网 站 www.sse.com.cn 上的相关公告。 股东会召开日期：2026年1月26日 本次股东会采用的网络投票系统：上海证券交易所股东会网络投票系统 ...

证券代码：600597 证券简称：光明乳业 公告编号：临 2026-001 号 光明乳业股份有限公司 第八届董事会第七次会议决议公告 二、董事会会议审议情况 (一)审议通过《关于选举普通董事的议案》。 同意 7 票、反对 0 票、弃权 0 票。 本议案已经公司第八届董事会提名委员会第二次会议审议通过。 具体内容详见 2026 年 1 月 10 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《关于董事辞职及补选董事的公告》。 本议案需提交公司 2026 年第一次临时股东会审议。 (二)审议通过《关于光明牧业申请借款的议案》。 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"）第八届董事会第七 次会议（以下简称"本次会议"）于 2026 年 1 月 9 日以通讯方式召开。本次会议 通知和会议材料于 2026 年 1 月 6 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、 ...

Core Viewpoint - Bright Dairy is a benchmark in the development of China's dairy industry, committed to the mission of "serving the nation through dairy" and "protecting the health of the nation" while continuously innovating to meet new consumer trends [1] Group 1: Product Innovation and Quality - Bright Dairy leverages its unique national key laboratory in biotechnology to transform research capabilities into product competitiveness, achieving multiple industry firsts, including the introduction of the first ambient yogurt brand, "Mosi Lian" [2] - The company launched its first additive-free yogurt, "Rushi," leading the trend of healthy consumption with pure quality [2] - Bright Dairy is the first dairy company globally to label active ingredient content on its "Youbei" fresh milk packaging, setting a new standard for fresh milk quality with the upcoming 5.0 version featuring significant breakthroughs in protein and immunoglobulin content [2] Group 2: Marketing and Cultural Integration - Bright Dairy actively integrates into urban culture, exemplified by the customized ice cream gift boxes for "Shanghai Summer," which incorporate local dialect elements and blind box concepts, enhancing brand cultural value and market appeal [3] - The brand targets Generation Z through strategic sponsorships, such as the exclusive naming of the variety show "Tian Sheng Yi Dui" and sponsorship of the 2025 Shanghai Rolex Master, revitalizing the brand's image in a modern context [3] Group 3: Digital Asset Ecosystem - In response to the digital economy, Bright Dairy has established a digital asset issuance platform, becoming the first dairy company in China to do so, with plans to support secondary trading of digital assets [4] - By July 2025, the company had issued over 27,000 digital assets, significantly increasing new user growth by 43% through its "Sui Xin Ding" app, creating a sustainable growth avenue for the brand [4] - Bright Dairy aims to maintain its core philosophy of "freshness and quality" while using craftsmanship and innovation to ensure the longevity and vitality of its century-old brand [4]