Core Viewpoint - The appointment of Kuai Yulong as the new CEO of Miaokelando marks a significant strategic shift, aiming to drive the company towards a comprehensive transformation and achieve ambitious revenue and profit targets over the next three years [1][12][28] Group 1: Leadership Transition - Kuai Yulong, previously the CEO and CFO of Miaokelando, has extensive experience in the dairy industry, particularly from his time at Mengniu, making him well-suited to lead the company [4][17] - His strategic planning and operational capabilities align with the current needs of Miaokelando, which is looking to innovate and expand its market presence [4][17] Group 2: Strategic Goals - Miaokelando has set ambitious revenue targets for 2025-2027, aiming for no less than 5.6 billion, 6.5 billion, and 7.8 billion respectively, with a cumulative revenue target of nearly 20 billion [10][23] - The net profit targets for the same period are set at no less than 210 million, 320 million, and 460 million, totaling nearly 1 billion [10][23] Group 3: Business Model Transformation - The company plans to implement a dual-driven strategy focusing on both consumer (TO C) and business (TO B) markets, moving away from a sole focus on children's snacks to a more diversified product offering [5][18] - Key areas for innovation include upgrading the children's product line, expanding adult offerings, and developing B2B specialized products, particularly in raw cheese technology [5][18] Group 4: Organizational Development - Kuai Yulong aims to enhance Miaokelando's organizational capabilities by building a more professional and efficient team structure, ensuring alignment between strategic goals and operational execution [10][25] - The company is expected to transition from a medium-sized food enterprise to a large-scale manufacturing entity, necessitating more standardized and scientific management practices [12][25] Group 5: Industry Collaboration - The leadership change is seen as a move towards deeper integration with Mengniu, focusing on supply chain collaboration, market penetration, and innovation capabilities [13][26] - The goal is to transform Miaokelando from a children's brand to a universal brand, enhancing its market presence and brand recognition [13][26]

柴琇起家于地产，2015年，携广泽乳业借壳登陆A股市场。在伊利和蒙牛双寡头时代，柴琇独辟蹊径， 闯进奶酪这一细分领域。借助大张旗鼓的烧钱营销，柴琇成功了。妙可蓝多奶酪棒家喻户晓，市占率长 期稳居中国市场首位。 然而，当行业进入"内卷"周期，柴琇的应对失策。2022年、2023年，妙可蓝多的经营业绩接连下滑。 绊倒柴琇的是资金之困。2019年，因为家族企业问题，柴琇违规拆借妙可蓝多资金被监管关注。柴琇恭 请蒙牛乳业入局，解了燃眉之急。 柴琇没有想到的是，五年后，仍然是因为资金问题，她被踢出妙可蓝多。 长江商报消息●长江商报记者 沈右荣 "奶酪女王"柴琇，被自己一手创办的公司"踢"出局。 1月25日晚间，中国"奶酪第一股"妙可蓝多（600882.SH）发布了一份措辞充斥寒意的公告：创始人柴琇 被免去副董事长、总经理及法定代表人职务。 "商界女强人""东北女首富""奶酪女王"，柴琇曾经拥有多个亮眼标签。 进入柴琇后时代的妙可蓝多，将全面融入蒙牛乳业体系，但也将面临挑战。 2025年前三季度，妙可蓝多归母净利润创了近五年新高，但其股价累跌逾70%。 妙可蓝多的未来将走向何方？ 一笔烂账压垮"东北女富豪" 柴琇以一种不 ...

"奶酪女王"柴琇，被自己一手创办的公司"踢"出局。 1月25日晚间，中国"奶酪第一股"妙可蓝多（600882）(600882.SH)发布了一份措辞充斥寒意的公告：创始人柴琇 被免去副董事长、总经理及法定代表人职务。 "商界女强人""东北女首富""奶酪女王"，柴琇曾经拥有多个亮眼标签。 柴琇起家于地产，2015年，携广泽乳业借壳登陆A股市场。在伊利和蒙牛双寡头时代，柴琇独辟蹊径，闯进奶酪 这一细分领域。借助大张旗鼓的烧钱营销，柴琇成功了。妙可蓝多奶酪棒家喻户晓，市占率长期稳居中国市场首 位。 然而，当行业进入"内卷"周期，柴琇的应对失策。2022年、2023年，妙可蓝多的经营业绩接连下滑。 绊倒柴琇的是资金之困。2019年，因为家族企业问题，柴琇违规拆借妙可蓝多资金被监管关注。柴琇恭请蒙牛乳 业入局，解了燃眉之急。 柴琇没有想到的是，五年后，仍然是因为资金问题，她被踢出妙可蓝多。 进入柴琇后时代的妙可蓝多，将全面融入蒙牛乳业体系，但也将面临挑战。 2025年前三季度，妙可蓝多归母净利润创了近五年新高，但其股价累跌逾70%。 妙可蓝多的未来将走向何方？ 一笔烂账压垮"东北女富豪" 柴琇以一种不太体面的方式告别妙可 ...

Core Viewpoint - The founder of Miaokelan Duo, Chai Xiu, has been removed from her positions as Vice Chairman, General Manager, and Legal Representative, marking the end of her era in the company [3][27]. Group 1: Management Changes - Chai Xiu's removal was announced on January 25, with the company stating that she would retain her position as a board member only [3][27]. - The new appointee, Kuai Yulong, is a seasoned executive from Mengniu Dairy, indicating a shift towards a more corporate management style [5][29]. - Following Chai's dismissal, Mengniu Dairy increased its stake in Miaokelan Duo to 37.04% [41]. Group 2: Financial and Legal Issues - The immediate cause of Chai's removal was a long-standing investment dispute involving a fund she helped establish, which has resulted in significant financial losses for the company [9][33]. - Miaokelan Duo has initiated arbitration against Chai for failing to fulfill a compensation commitment related to this investment, which is expected to impact the company's net profit by approximately 119 to 127 million yuan in 2025 [4][11][35]. - The company’s financial performance has been declining, with revenue growth slowing since 2021 and even experiencing negative growth in 2023 [38]. Group 3: Market Position and Future Outlook - Despite being the market leader in cheese, Miaokelan Duo faces intense competition from rivals like Yili and Bright Dairy, which poses risks to its market share [38]. - Analysts express cautious optimism about the company's future under new management, suggesting that there is still significant potential for growth in China's cheese market [22][46]. - The transition to a new management team may help stabilize the company and enhance compliance, potentially leading to improved performance in the long term [46].

单位：万元 | 产品 | 受托人 | 产品金额 | 起息日 | 到期日 | 年化收益率 | 赎回金额 | 实际 | | --- | --- | --- | --- | --- | --- | --- | --- | | 名称 | 名称 | | | | （%） | | 收益 | | 兴业银行企业 | 兴业 | | | | | | | | 金融人民币结 | | 3,500 | 2025/12/10 | 2026/01/28 | 1.90 | 3,500 | 8.93 | | | 银行 | | | | | | | | 构性存款产品 | | | | | | | | 截至本公告日，公司使用部分闲置募集资金进行现金管理的余额为人民币 13.80 亿元。公司使用部分闲置募集资金进行现金管理的单日最高余额及使用期 限均未超过公司董事会授权范围。公司使用部分闲置募集资金购买的产品不存 在逾期未收回的情况。 特此公告。 证券代码：600882 证券简称：妙可蓝多 公告编号：2026-012 上海妙可蓝多食品科技股份有限公司 关于使用部分闲置募集资金进行现金管理到期赎回的公告 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 ...

妙可蓝多公告称，2025年12月9日与兴业银行上海漕河泾支行签署协议，投资3500万元购买其结构性存 款产品。近日赎回，收回本金3500万元，获收益8.93万元，年化收益率1.90%。截至公告日，公司使用 闲置募集资金现金管理余额13.80亿元，未超董事会授权范围，无逾期未收回情况。 ...

Group 1 - The core viewpoint of the article is the leadership change at Miaokelando, with former CFO Kuai Yulong taking over as CEO from founder Chai Xiu, marking a new phase of professional and refined operations for the company [1][3] - Kuai Yulong is not an outsider; he has extensive experience in finance and strategy from his time at Mengniu, making him well-suited to lead Miaokelando into its next decade [3][4] - The transition from CFO to CEO has become a common trend in many companies, as seen in examples like JD.com and Ant Group, where CFOs are perceived to be more pragmatic and data-driven, suitable for guiding companies through a shift from rapid growth to sustainable operations [3] Group 2 - Miaokelando is shifting its focus from rapid expansion to refining its operations, with a strategic plan for 2025 that includes a dual-driven approach targeting both consumer and business segments, as well as international expansion [4] - The product line will be upgraded to include functional, high-protein options for children, and expand into adult leisure and meal replacement markets, while also reducing reliance on imported raw materials [4] - Kuai Yulong's role will involve translating strategic goals into actionable plans, emphasizing precise resource allocation and establishing a closed-loop system of strategy, budgeting, execution, and assessment [4] Group 3 - The leadership change is also seen as a signal of deeper collaboration between Miaokelando and its shareholder Mengniu, moving from resource alignment to systemic integration [5] - Mengniu's global supply chain and procurement capabilities will help stabilize Miaokelando's supply chain and reduce costs, while its extensive distribution network will facilitate access to new customer segments [5] - Observers believe that under Kuai Yulong's leadership, Miaokelando's key challenge will be to build an "ecological strategy" that transitions the company from marketing-driven to capability-driven growth, focusing on quality rather than just scale [5]

华西证券研报指出，妙可蓝多利空落地，专注经营进入新征程。2025年12月末至今，公司发布一系列公 告：12月27日关于参股并购基金进展及相关风险的提示性公告，12月30日关于控股股东增持公司股份及 后续增持计划的公告，1月26日关于副董事长、总经理、行政总经理离任暨聘任总经理以及变更法定代 表人的公告等。高管更换、股东增持，专注经营进入新征程。控股股东仍然坚定看好中国乳业深加工发 展以及妙可蓝多公司自身的经营实力，叠加高管更换，认为公司继续更加专注主业经营，整体发展有望 迈入新的征程。维持"买入"评级。 ...

扬子晚报网1月28日讯(记者范晓林薄云峰)1月25日，妙可蓝多（600882）连发数条公告，宣布其创始人柴琇被"免职"，自1月23日起不再担任公司副董事 长、总经理、法定代表人，但柴琇会继续担任上市公司董事职务。同时公告称，柴琇存在未履行完毕的公开承诺。 | 姓名 | 离任 | 离任 | 原定任期 | 离任 | 是否继续在 上市公司 | 賞 体 | 是否存在 未履行完毕的 | | --- | --- | --- | --- | --- | --- | --- | --- | | | 职务 | 时间 | 到期日 | 原因 | 及其控股子公司 | 职 | 公开承诺 | | | | | | | 任职 | 务 | | | 柴秀 | 副董事 长、总经 理以及 法定代 | 2026 年 1月23日 | 2027 年 11月17日 | 免职 | 是 | 章 事 | 是 | | | 表人 | | | | | | | | 蒯玉龙 | 行政总 经理 | 2026年 1月23日 | 2027 年 11月17日 | 工作 安排 | 是 | 直 事 1 财 | 否 | | | | | | | | 务 | | | | | | | | | ...

Group 1 - The core viewpoint of the article is that a significant number of traditional Chinese medicine (TCM) products will exit the market due to regulatory changes, specifically the enforcement of safety information requirements in product labels [2][3] - The National Medical Products Administration's new regulation, referred to as the "life and death clause" for TCM, will take effect in July 2026, leading to the elimination of products with unclear safety information [2][3] - Over 70% of the approximately 57,000 approved TCM products currently have safety information marked as "unclear," indicating a substantial market contraction ahead [2][3] Group 2 - The new regulation aims to end the era of vague safety information on TCM product labels, compelling manufacturers to provide complete safety data post-market [5] - The automotive industry is experiencing a decline in profit margins, with sales profit rates dropping to a historical low of 4.1% in 2025, reflecting broader economic challenges [5] - Nike is planning to lay off 775 employees in the U.S. as part of a strategy to enhance profitability amid declining sales growth and shrinking profit margins [8]