上海妙可蓝多食品科技股份有限公司 2025 年第一次临时股东大会会议资料 为维护广大投资者合法权益，保证股东及代理人在上海妙可蓝多食品科技股 份有限公司（以下简称"公司"）股东大会依法行使股东权利，确保股东大会正 常秩序和议事效率，根据相关法律法规及《上海妙可蓝多食品科技股份有限公司 章程》（以下简称"《公司章程》"）等有关规定，提请参会股东及代理人注意以下 事项： 一、公司董事会办公室具体负责大会有关程序方面的事宜。 二、出席现场会议的股东及代理人请按规定出示证券账户卡、身份证或法人 单位证明以及授权委托书等证件，经验证合格后方可出席会议。 三、会议主持人宣布现场出席会议的股东和代理人人数及所持有表决权的股 份总数之后，迟到股东所持股份数不计入现场有效表决的股份数，但可以通过网 络投票方式参与表决。 二〇二五年三月 上海妙可蓝多食品科技股份有限公司 2025 年第一次临时股东大会注意事项 尊敬的各位股东及股东代理人： （一）关于《上海妙可蓝多食品科技股份有限公司 2025 年股票期权激励计 划（草案）》及其摘要的议案 四、与会者要保持会场正常秩序，会议期间不要大声喧哗，请关闭手机或将 其调至静音状态。全体出 ...

证券代码：600882 证券简称：妙可蓝多 公告编号：2025-020 上海妙可蓝多食品科技股份有限公司 关于使用部分暂时闲置募集资金进行现金管理到期赎回并 继续进行现金管理的公告 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： 一、 本次现金管理到期赎回的情况 2025 年 2 月 11 日，公司全资子公司上海芝享食品科技有限公司（以下简称 "上海芝享"）使用部分闲置募集资金购买了"交通银行蕴通财富定期型结构性 存款 21 天（挂钩汇率看跌）"，产品期限 21 天，起息日 2025 年 2 月 13 日，金额 为 1,500 万元。具体内容详见公司于 2025 年 2 月 12 日在上海证券交易所网站 （www.sse.com.cn）及公司指定信息披露媒体《中国证券报》《上海证券报》《证 券时报》《证券日报》披露的《关于使用部分暂时闲置募集资金进行现金管理到 期赎回并继续进行现金管理的公告》（公告编号：2025-010）。该产品已于 2025 年 3 月 6 日到期，截至本公告披露日，公司已赎回本金 1,50 ...

Investment Rating - The report maintains a "Buy" rating for the company [1] Core Views - The employee incentive plan and performance targets are above expectations, indicating potential for earnings elasticity in 2025 [7] - The company aims for revenue targets of no less than 5.6 billion, 6.5 billion, and 7.8 billion RMB for 2025-2027, with net profit targets of no less than 210 million, 320 million, and 460 million RMB respectively [7] - The merger with Mengniu Cheese is expected to enhance product and brand synergies, facilitating market penetration and development [7] - The company is focusing on domestic raw cheese production, which is anticipated to reduce supply chain risks and improve profitability [7] Financial Projections - Total revenue is projected to be 4.9 billion, 5.4 billion, and 6.3 billion RMB for 2024-2026, with year-on-year growth rates of 21.2%, 10.7%, and 15.1% respectively [7] - Net profit is expected to reach 1.03 billion, 2.4 billion, and 3.9 billion RMB for the same period, with year-on-year growth rates of 62%, 129%, and 66% respectively [7] - The projected P/E ratios for 2024, 2025, and 2026 are 99, 43, and 26 respectively [7] Market Data - The closing price of the stock is 19.87 RMB, with a market capitalization of approximately 10.17 billion RMB [5] - The company has a price-to-book ratio of 2.32 [5] - The stock has a 52-week range of 11.63 to 21.67 RMB [5] Basic Data - The company has a net asset value per share of 8.55 RMB and a debt-to-asset ratio of 43.36% [6] - The total share capital is 512.05 million shares [6]

Investment Rating - The report maintains a "Buy" investment rating for the company [2] Core Views - The company has launched a stock option incentive plan and an employee stock ownership plan, reflecting strong confidence in its future performance [5][6] - The performance targets set for the incentive plans are ambitious, indicating the company's confidence in achieving significant revenue and profit growth over the next few years [7] - The company is focusing on expanding its product offerings in the consumer market while maintaining steady growth in the business-to-business segment [8] Summary by Sections Incentive Plans - The stock option plan involves granting 8 million options, representing approximately 1.56% of the total share capital, with a strike price of 15.83 CNY per share [6] - The employee stock ownership plan also targets 8 million shares, with a purchase price of 9.90 CNY per share, involving 209 participants [6] Performance Targets - Revenue targets for 2025, 2026, and 2027 are set at no less than 56 billion, 65 billion, and 78 billion CNY, respectively, with net profit targets of 2.10 billion, 3.20 billion, and 4.60 billion CNY [7] - The company aims for a compound annual growth rate (CAGR) of at least 18.02% for revenue and 48.00% for net profit from 2025 to 2027 [7] Market Performance - The company has seen positive performance in its consumer segment, with new products like cheese bites and single-serving cheese performing well [8] - In the business segment, strategic partnerships have evolved from seasonal collaborations to more integrated strategic alliances, enhancing operational efficiency [8] Earnings Forecast - The company is expected to achieve earnings per share (EPS) of 0.22, 0.39, and 0.59 CNY for 2024, 2025, and 2026, respectively, with corresponding price-to-earnings (PE) ratios of 90, 51, and 34 [11] - The revenue forecast for 2024, 2025, and 2026 is set at 48.17 billion, 53.33 billion, and 61.10 billion CNY, with growth rates of 19.0%, 10.7%, and 14.6% [13]

Investment Rating - The report maintains a "Buy" rating for the company [1] Core Views - The employee incentive plan and performance targets are above expectations, indicating strong potential for earnings growth in 2025 [7] - The company aims for revenue targets of no less than 5.6 billion, 6.5 billion, and 7.8 billion RMB for 2025-2027, with net profit targets of no less than 210 million, 320 million, and 460 million RMB respectively [7] - The merger with Mengniu Cheese is expected to enhance product and brand synergies, facilitating market penetration and development [7] - The company is focusing on domestic raw milk production, which is anticipated to reduce supply chain risks and improve profitability [7] - The projected revenue for 2024-2026 is 4.91 billion, 5.43 billion, and 6.25 billion RMB, with corresponding net profits of 1.03 billion, 2.4 billion, and 3.9 billion RMB [7] Financial Summary - Total revenue for 2022 was 4.83 billion RMB, with a projected decline of 16.16% in 2023, followed by a recovery of 21.23% in 2024 [1] - The net profit for 2022 was 137.61 million RMB, with a forecasted decline of 53.90% in 2023, and a significant rebound of 128.91% in 2025 [1] - The earnings per share (EPS) is expected to rise from 0.12 RMB in 2023 to 0.76 RMB in 2026 [1] - The price-to-earnings (P/E) ratio is projected to decrease from 160.38 in 2023 to 26.09 in 2026, indicating improved valuation [1]

Investment Rating - The report maintains a "Buy" investment rating for the company [2] Core Views - The company has launched a stock option incentive plan and an employee stock ownership plan, demonstrating strong confidence in its future performance [5][6] - The performance targets set for the incentive plans are ambitious, indicating the company's confidence in achieving significant revenue and profit growth over the next few years [7] - The company is focusing on expanding its product offerings in the consumer market while maintaining steady growth in the business-to-business segment [8] Summary by Sections Incentive Plans - The stock option plan involves granting 8 million options, representing approximately 1.56% of the total share capital, with a strike price of 15.83 CNY per option [6] - The employee stock ownership plan also targets 8 million shares, with a purchase price of 9.90 CNY per share, involving 209 participants [6] Performance Targets - Revenue targets for 2025, 2026, and 2027 are set at no less than 56 billion, 65 billion, and 78 billion CNY, respectively, with net profit targets of 2.10 billion, 3.20 billion, and 4.60 billion CNY [7] - Trigger values for the same years are set at 50.4 billion, 58.5 billion, and 70.2 billion CNY for revenue, and 1.89 billion, 2.88 billion, and 4.14 billion CNY for net profit [7] - The company aims for a compound annual growth rate (CAGR) of at least 18.02% for revenue and 48.00% for net profit from 2025 to 2027 [7] Market Performance - The company is enhancing its product mix with successful new consumer products while achieving stable growth in its business-to-business operations [8] - The integration with Mengniu in the B2B segment is expected to improve operational efficiency and cost management [11] Earnings Forecast - The earnings per share (EPS) estimates for 2024, 2025, and 2026 are adjusted to 0.22, 0.39, and 0.59 CNY, respectively, reflecting a positive outlook for the company's profitability [11] - The current stock price corresponds to price-to-earnings (PE) ratios of 90, 51, and 34 for the respective years [11]

上海妙可蓝多食品科技股份有限公司 2025 年员工持股计划（草案）摘要 证券简称：妙可蓝多 证券代码：600882 上海妙可蓝多食品科技股份有限公司 2025 年员工持股计划（草案） 摘要 二〇二五年三月 1 上海妙可蓝多食品科技股份有限公司 2024 年员工持股计划（草案）摘要 声明 本公司及全体董事、监事保证本员工持股计划及其摘要不存在任何虚假记 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。 上海妙可蓝多食品科技股份有限公司 2024 年员工持股计划（草案）摘要 风险提示 一、上海妙可蓝多食品科技股份有限公司（以下简称"妙可蓝多""公 司"或"本公司"）2025 年员工持股计划（草案）（以下简称"本员工持股 计划草案"）须经公司股东大会批准后方可实施，本员工持股计划草案能否 获得公司股东大会批准，存在不确定性。 二、有关公司 2025 年员工持股计划（以下简称"本员工持股计划"）的 具体的资金来源、出资金额、预计规模和具体实施方案等属初步信息，能否 完成实施，存在不确定性。 三、若员工认购资金较低，本员工持股计划存在无法成立的风险；若员 工认购份额不足，本员工持股计划存在 ...

上海妙可蓝多食品科技股份有限公司 2025 年员工持股计划（草案） 证券简称：妙可蓝多 证券代码：600882 二〇二五年三月 1 上海妙可蓝多食品科技股份有限公司 2024 年员工持股计划（草案） 声明 本公司及全体董事、监事保证本员工持股计划及其摘要不存在任何虚假记 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。 上海妙可蓝多食品科技股份有限公司 2024 年员工持股计划（草案） 风险提示 上海妙可蓝多食品科技股份有限公司 2025 年员工持股计划 （草案） 一、上海妙可蓝多食品科技股份有限公司（以下简称"妙可蓝多""公 司"或"本公司"）2025 年员工持股计划（草案）（以下简称"本员工持股 计划草案"）须经公司股东大会批准后方可实施，本员工持股计划草案能否 获得公司股东大会批准，存在不确定性。 二、有关公司 2025 年员工持股计划（以下简称"本员工持股计划"）的 具体的资金来源、出资金额、预计规模和具体实施方案等属初步信息，能否 完成实施，存在不确定性。 三、若员工认购资金较低，本员工持股计划存在无法成立的风险；若员 工认购份额不足，本员工持股计划存在低于预计规模的风 ...

证券代码：600882 证券简称：妙可蓝多 公告编号：2025-018 上海妙可蓝多食品科技股份有限公司 关于独立董事公开征集委托投票权的公告 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： 征集投票权的起止时间：2025 年 3 月 14 日至 2025 年 3 月 18 日（上午 9:00—11:30，下午 13:00—17:00）。 根据《中华人民共和国证券法》《上市公司股东大会规则》《上市公司股权激 励管理办法》《公开征集上市公司股东权利管理暂行规定》《上海妙可蓝多食品科 技股份有限公司章程》等相关规定，上海妙可蓝多食品科技股份有限公司（以下 简称"公司"）独立董事潘敏女士作为征集人，就公司拟于 2025 年 3 月 21 日召 开的 2025 年第一次临时股东大会审议的 2025 年股票期权激励计划等相关议案， 向公司全体股东征集投票权。 一、征集人的基本情况 征集人同时征求股东对本次股东大会审议的除上述议案外的其他议案的投 票意见，并将按被征集人的意见代为表决。 （一）征集人基本信息与持股情况 本次 ...