Core Insights - The article discusses the recent research conducted by QuanGuo Fund on the listed company MiaoKeLanDuo, highlighting its strategic focus on the "Store Efficiency Doubling" initiative as a long-term plan for the next three years [1][2]. Group 1: Company Strategy - The "Store Efficiency Doubling" strategy is identified as the company's top priority, aimed at transforming marketing and operations by focusing on consumer needs and enhancing resource allocation towards frontline operations [1][2]. - The company is implementing a triangular organizational model to shift from resource input to capability enhancement, which is expected to drive high-quality development [1][2]. Group 2: Business Performance - As of September 29, 2025, QuanGuo Fund's best-performing product, QuanGuo XuYuan Three-Year Holding Mixed A, achieved a return of 54.74% over the past year [2]. - The company has seen significant progress in both B-end and C-end business operations, with a focus on domestic raw material substitution and enhanced supply chain capabilities [3][4]. Group 3: Product Development and Market Expansion - The company is expanding its product offerings to cater to a broader demographic, including children, teenagers, and adults, by introducing new products like cheese balls and cheese snacks [7][12]. - The company aims to enhance its market position in the cheese segment by leveraging its strong R&D capabilities to customize products for various retail channels [4][9]. Group 4: Sales and Marketing Strategy - The sales team is structured to optimize collaboration with distributors and retailers, focusing on enhancing efficiency through a unified command system [6][8]. - The company is utilizing a dual-brand pricing strategy in the snack retail channel to increase product penetration and market share [4][10]. Group 5: Future Outlook - The company envisions becoming a leading cheese enterprise in China and a respected player globally, with a five-year plan that includes a dual-driven strategy focusing on both B-end and C-end markets [12][13]. - The company plans to enhance its supply chain capabilities and expand its market reach through strategic partnerships and product innovation [12][13].

Core Viewpoint - The company, Shanghai Miaokelan Duo Food Technology Co., Ltd., has approved the use of temporarily idle raised funds for cash management to enhance fund utilization efficiency and increase returns for the company and its shareholders [2][10]. Investment Overview - **Investment Purpose**: The aim is to improve the efficiency of raised funds and ensure that normal operations and project investments are not affected while increasing company returns [4]. - **Investment Amount**: The total amount for cash management is set at 310 million yuan [5]. - **Source of Funds**: The funds are sourced from temporarily idle raised funds, which were raised through a non-public offering of shares totaling approximately 2.98 billion yuan after deducting issuance costs [6]. Investment Details - **Investment Method**: The company has purchased two structured deposit products from Shanghai Pudong Development Bank, which are characterized as high safety and liquidity, meeting the capital preservation requirements [8]. - **Investment Duration**: The duration of the cash management products is 49 days [9]. Approval Process - The board and supervisory committee meetings held on November 18, 2024, approved the cash management proposal, allowing the use of up to 1.75 billion yuan of temporarily idle raised funds for a period of 12 months [10]. Impact on the Company - The cash management will not affect the company's normal operations or the implementation of investment projects, and it is expected to enhance returns for shareholders [14]. - As of June 30, 2025, the company's cash balance was approximately 655.62 million yuan, with the cash management investment amounting to 310 million yuan, representing 47.28% of the cash balance [14]. - The accounting treatment for the cash management will classify the principal as trading financial assets, with returns recorded as investment income [14]. Opinions from Supervisory and Sponsoring Institutions - The supervisory committee supports the cash management initiative, stating it will enhance fund efficiency and is in the best interest of shareholders [15]. - The sponsoring institution, Dongfang Securities, confirms that the cash management decision has followed necessary approval procedures and complies with relevant regulations [16].

证券代码：600882 证券简称：妙可蓝多 公告编号：2025-088 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的进展公告 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： 基本情况 | 投资金额 | 万元 31,000 | | --- | --- | | 投资种类 | 银行理财产品 | | 资金来源 | 募集资金 | 已履行的审议程序 上海妙可蓝多食品科技股份有限公司（以下简称"公司"、"妙可蓝多"）于 2024 年 11 月 18 日召开第十二届董事会第一次会议和第十二届监事会第一次 会议，审议通过《关于使用暂时闲置自有资金及募集资金进行现金管理的议 案》，公司监事会、保荐机构分别对相关事项发表了同意的意见，本事项无 需提交股东大会审议。 特别风险提示 公司本次购买的理财产品为保本浮动收益型，产品安全性高、流动性好、满 足保本要求，但不排除该项投资收益情况受到政策风险、市场风险、流动性 风险等风险的影响。 一、投资情况概述 （一）投资目的 为提高募集资金使用效率，合理利用暂时 ...

Core Insights - The beverage and dairy sector experienced a rise of 0.66% on October 9, with Zhuangyuan Pastoral leading the gains [1] - The Shanghai Composite Index closed at 3933.97, up 1.32%, while the Shenzhen Component Index closed at 13725.56, up 1.47% [1] Sector Performance - Zhuangyuan Pastoral (002910) closed at 10.86, with a significant increase of 10.03%, trading volume of 239,000 shares, and a transaction value of 254 million [1] - Qiaoyuan Beverage (603156) saw a rise of 6.18%, closing at 31.29, with a trading volume of 328,100 shares and a transaction value of 1.042 billion [1] - Panda Dairy (300898) increased by 1.79%, closing at 26.09, with a trading volume of 30,800 shares and a transaction value of 79.09 million [1] - Yili Group (600887) rose by 1.28%, closing at 27.63, with a trading volume of 711,500 shares and a transaction value of 1.94 billion [1] - Tianrun Dairy (600419) and Beingmate (002570) also showed modest increases of 1.18% and 1.13%, respectively [1] Capital Flow - The beverage and dairy sector saw a net inflow of 47.31 million from institutional investors, while retail investors experienced a net outflow of 1.09 billion [2] - The sector's overall capital flow indicates a strong interest from institutional and speculative investors, despite the outflow from retail investors [2]

Core Viewpoint - The stock price of Miaokelan Duo has experienced fluctuations, with a recent decline of 2.01% and a year-to-date increase of 33.46%, indicating volatility in the market performance of the company [1][2]. Company Overview - Miaokelan Duo, established on November 29, 1988, and listed on December 6, 1995, is located in Shanghai and specializes in the research, production, and sales of dairy products, primarily cheese [2]. - The company's revenue composition is as follows: cheese accounts for 83.20%, trade for 8.94%, liquid milk for 7.29%, and other products for 0.57% [2]. Financial Performance - For the first half of 2025, Miaokelan Duo reported a revenue of 2.567 billion yuan, representing a year-on-year growth of 33.52%, and a net profit attributable to shareholders of 133 million yuan, reflecting a 73.19% increase compared to the previous year [2]. - The company has cumulatively distributed 368 million yuan in dividends since its A-share listing, with no dividends paid in the last three years [3]. Shareholder Information - As of June 30, 2025, the number of shareholders for Miaokelan Duo was 34,300, a decrease of 23.14% from the previous period, while the average circulating shares per person increased by 30.11% to 14,909 shares [2]. - Notably, Hong Kong Central Clearing Limited has exited the list of the top ten circulating shareholders [3]. Market Activity - On October 9, the stock price was reported at 23.89 yuan per share, with a trading volume of 29.285 million yuan and a turnover rate of 0.24%, indicating low liquidity [1]. - The net outflow of main funds was 4.6493 million yuan, with significant selling pressure observed in large orders [1].

证券代码：600882 证券简称：妙可蓝多 公告编号：2025-087 公司分别于 2025 年 7 月 1 日、2025 年 7 月 2 日使用部分闲置募集资金购买 了"利多多公司稳利 25JG7530 期（三层看涨）人民币对公结构性存款"、"利多 多公司稳利 25JG7576 期（三层看涨）人民币对公结构性存款"，产品期限分别 为 88 天、87 天，起息日分别为 2025 年 7 月 1 日、2025 年 7 月 2 日，金额分别 为 15,000 万元、16,500 万元。具体内容详见公司于 2025 年 7 月 3 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 现金管理的进展公告》（公告编号：2025-060）。该产品已于 2025 年 9 月 29 日到 期，截至本公告披露日，公司已赎回本金 15,000 万元、16,500 万元，并分别获 得收益 751,666.67 元、817,437.50 元，收益符合预期，本金及收益已全部到账。 特此公告。 上海妙可蓝多食品科技股 ...

Market Overview - The beverage and dairy sector increased by 0.9% on September 29, with Yangyuan Beverage leading the gains [1] - The Shanghai Composite Index closed at 3862.53, up 0.9%, while the Shenzhen Component Index closed at 13479.43, up 2.05% [1] Stock Performance - Key stocks in the beverage and dairy sector showed varied performance, with notable gainers including: - Chi Yuan Beverage (603156) at 30.30, up 7.68% with a trading volume of 446,200 shares and a turnover of 1.337 billion [1] - Dongpeng Beverage (605499) at 290.55, up 1.75% with a trading volume of 16,700 shares and a turnover of 480 million [1] - Other stocks like Zhuangyuan Pasture (002910) and Huangshi Group (002329) also saw modest increases of 1.47% and 1.13% respectively [1] Capital Flow - The beverage and dairy sector experienced a net outflow of 224 million from institutional investors, while retail investors saw a net inflow of 135 million [2] - Notable capital flows included: - Institutional net inflow for Dongpeng Beverage at 56.24 million, while retail saw a net outflow of 55.29 million [3] - Bright Dairy (600597) had a net inflow of 9.92 million from institutional investors, with retail outflows totaling 8.16 million [3]

Group 1 - The company has signed a tripartite supervision agreement for the newly established special account for raised funds to ensure proper management and protection of small investors' rights [3][4][6] - The company raised a total of approximately RMB 2.999 billion through a non-public offering of 100,976,102 shares at a price of RMB 29.71 per share, with a net amount of approximately RMB 2.981 billion after deducting issuance costs [2] - The tripartite supervision agreement involves the company, the underwriting institution Oriental Securities, and several banks, ensuring compliance with relevant laws and regulations [3][6][7] Group 2 - The company has opened multiple special accounts for raised funds at various banks to enhance fund management efficiency and convenience [4][5] - The agreement stipulates that the special account is exclusively for the storage and use of raised funds, and any withdrawals exceeding RMB 50 million or 20% of the net raised amount must be reported to the underwriting institution [8][9] - The underwriting institution is responsible for ongoing supervision of the fund usage and can conduct on-site investigations and inquiries [7][8]

证券代码：600882 证券简称：妙可蓝多 公告编号：2025-086 二、《募集资金专户存储三方监管协议》的签订情况和募集资金 专户的开立情况 为规范公司募集资金管理，保护中小投资者权益，根据有关法律法规及规范 性文件的规定，2021 年 7 月，公司及实施募投项目的子公司上海芝享食品科技 有限公司、广泽乳业有限公司、吉林市广泽乳品有限公司与保荐机构东方证券承 销保荐有限公司（已于 2024 年 9 月被其母公司东方证券股份有限公司吸收合并， 与东方证券股份有限公司一同简称"东方证券"）和中国光大银行股份有限公司 上海金山支行、兴业银行股份有限公司上海闵行支行、招商银行股份有限公司上 海分行、交通银行股份有限公司上海奉贤支行、吉林九台农村商业银行股份有限 公司长春分行和吉林珲春农村商业银行股份有限公司长春市朝阳支行分别签订 了《募集资金专户存储三方监管协议》，相关协议与上海证券交易所《募集资金 1 专户存储三方监管协议（范本）》不存在重大差异。详见公司 2021 年 7 月 8 日披 露的《关于签订募集资金三方监管协议的公告》（公告编号：2021-070）。 为进一步便于募集资金管理，提高募集资金的使用效率 ...

证券代码：600882 证券简称：妙可蓝多 公告编号：2025-085 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： 基本情况 | 投资金额 | 万元 5,000 | | --- | --- | | 投资种类 | 银行理财产品 | | 资金来源 | 募集资金 | 已履行的审议程序 上海妙可蓝多食品科技股份有限公司（以下简称"公司"、"妙可蓝多"）于 2024 年 11 月 18 日召开第十二届董事会第一次会议和第十二届监事会第一次 会议，审议通过《关于使用暂时闲置自有资金及募集资金进行现金管理的议 案》，公司监事会、保荐机构分别对相关事项发表了同意的意见，本事项无 需提交股东大会审议。 特别风险提示 公司本次购买的理财产品为保本浮动收益型，产品安全性高、流动性好、满 足保本要求，但不排除该项投资收益情况受到政策风险、市场风险、流动性 风险等风险的影响。 一、本次现金管理到期赎回的情况 2025 年 6 ...