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 证券代码：600882 证券简称：妙可蓝多 公告编号：2025-066 上海妙可蓝多食品科技股份有限公司 关于召开2025年第二次临时股东会的通知 (一) 股东会类型和届次 2025年第二次临时股东会 召开的日期时间：2025 年 8 月 4 日 14 点 30 分 召开地点：上海市浦东新区金桥路 1398 号金台大厦 4 楼 (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2025 年 8 月 4 日 股东会召开日期：2025年8月4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 (二) 股东会召集人：董事会 (三) 投票方式：本次股东会所采用的表决方式是现场投票和网络投票相结合的 方式 (四) 现场会议召开的日期、时间和地点 至2025 年 8 月 4 日 采用上海证券交易所网络投票系统，通过交易系统投票平台的投票时间为股 东会召开当日的交易时间段， ...

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。 证券代码：600882 证券简称：妙可蓝多 公告编号：2025-065 上海妙可蓝多食品科技股份有限公司 第十二届董事会第十一次会议决议公告 关于该事项的具体内容，详见公司同日于《中国证券报》《上海证券报》《证 券时报》《证券日报》及上海证券交易所网站（http://www.sse.com.cn）披露的《关 于拟注销回购股份及减少注册资本的公告》（公告编号：2025-067）。 上海妙可蓝多食品科技股份有限公司（以下简称"公司"）已以电子邮件方 式向全体董事发出第十二届董事会第十一次会议通知和材料。会议于 2025 年 7 月 17 日以通讯方式召开。本次会议应出席董事 9 人，实际出席 9 人。会议由董 事长陈易一先生主持。本次会议的通知、召开以及参会董事人数均符合《中华人 民共和国公司法》等相关法律、行政法规、部门规章、规范性文件和《上海妙可 蓝多食品科技股份有限公司章程》等有关规定，所形成的决议合法有效。 二、董事会会议审议情况 (一) 审议通过《关于拟注销公司已回购股份的 ...

Group 1 - The third China International Supply Chain Promotion Expo opened in Beijing, where Yum China showcased its "Yum and Harmony Development Plan" aimed at enhancing supply chain collaboration and quality sourcing [1] - Since its first restaurant opened in 1987, Yum China has expanded to over 16,000 restaurants across more than 2,300 towns in China, operating brands such as KFC, Pizza Hut, Little Sheep, Huang Ji Huang, and Taco Bell [1] - Yum China's Vice President of Supply Chain Management emphasized the importance of a robust supply chain ecosystem in delivering quality and innovative food experiences to consumers [1] Group 2 - Fujian Shengnong Development Co., Ltd. highlighted its collaboration with Yum China to enhance the poultry supply chain through standardization, technology sharing, and data interconnectivity [2] - Charoen Pokphand Group's Vice Chairman noted that product innovation demands from the restaurant sector drive continuous upgrades in supply chain capabilities [2] - Xuechuan Agricultural Group reported improvements in quality through collaboration with Yum China, contributing to local farmers' income while promoting sustainable practices [2] Group 3 - Yum China signed a procurement cooperation agreement with Guolian Aquatic Products to develop innovative products that will enhance the application of local aquatic specialties, benefiting local fish farmers [3]

证券代码：600882 证券简称：妙可蓝多 公告编号：2025-064 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： 一、本次现金管理概况 （一）现金管理目的 为提高募集资金使用效率，合理利用暂时闲置募集资金，在确保不影响正常 经营、不影响募集资金投资项目建设和募集资金使用计划的前提下，增加公司收 益，为公司及股东获取更多回报。 （二）投资金额 本次进行现金管理的投资总额为 3,000 万元。 （三）资金来源 本次现金管理的资金来源于公司暂时闲置的募集资金。相关募集资金的基本 1 投资种类：银行理财产品 投资金额：3,000 万元 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 ...

Core Viewpoint - Sam's Club has faced backlash from members for introducing products from brands like Holley, Panpan, and Xu Fu Ji, which are perceived as available in regular supermarkets, raising questions about the value of membership [1][15][19] Product Selection and Member Feedback - Recent product introductions at Sam's Club include Holley, Panpan, and Xu Fu Ji, which have led to member complaints about the lack of unique offerings [1][5][19] - Members have expressed dissatisfaction with the removal of high-repurchase-rate products in favor of items that can be found in regular supermarkets [1][19] - Walmart has acknowledged the discussions on social media regarding product selection and is considering member feedback in future strategies [14][15] Brand and Product Specifics - Products from Holley and Panpan are being sold at Sam's Club without prominent branding on packaging, leading to confusion among consumers [5][9][19] - A specific example includes Panpan's "French-style small puff" which is marketed with French text but is actually a Panpan product [2] - Sam's Club's pricing strategy includes items like a box of nuts from Hu Xi He priced at 48.9 yuan and a low-sugar Holley cake at 49.9 yuan, both marketed as "Sam's exclusive" [5][7] Market Positioning and Strategy - Experts suggest that Sam's Club must maintain a unique value proposition that cannot be easily replicated by regular supermarkets to justify its membership model [18][19] - The introduction of customized products for Sam's Club by brands like Holley and Xu Fu Ji indicates a shift towards more tailored offerings, although consumer perception remains critical [15][19] - Analysts emphasize the need for Sam's Club to differentiate its product offerings to meet the evolving demands of its target demographic, particularly middle-class consumers [18][19]

Group 1: Tianyang Technology - Tianyang Technology positions its U Card platform as an end-to-end digital currency comprehensive service platform, covering the entire process from virtual currency import, exchange, fiat currency recharge, to card lifecycle management [1] - The U Card business focuses on corporate procurement card categories, with a clear and compliant demand, adopting a subscription-based fee model that includes a minimum transaction volume corresponding to a guaranteed monthly fee [1] - The core customer regions for the U Card business are Southeast Asia, Central Asia, and Africa, where there is a strong foundational customer base for stablecoin holdings [1] Group 2: Miaokelan Duo - Miaokelan Duo achieved positive growth in its cheese stick business in Q1 2025, with an increase in market share despite a cautious consumption environment [2] - The company employs a dual-brand strategy and product innovation to drive continuous growth in cheese sticks, launching various innovative products [2] - The sales expense structure shows that advertising and promotional expenses, along with employee compensation, account for over 80%, with plans to increase digital marketing investment in the future [2]

证券代码：600882 证券简称：妙可蓝多 公告编号：2025-063 特此公告。 上海妙可蓝多食品科技股份有限公司董事会 2025 年 7 月 14 日 1 关于使用部分暂时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、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（以下简称"公司"）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。 2024 年 12 月 31 日，公司全资子公司广泽乳业有限公司使用部分闲置募集 资金分别购买了 2 个"中国银行挂钩型结构性存款"，产品期限分别为 190 天、 192 天，起息日均为 2025 年 1 月 2 日，金额分别为 4,900 万元、5,100 万元。具 体内容详见公司于 2025 年 1 月 3 日在上海证券交易所网站（www.sse.com.cn） 及公司指 ...

Group 1 - The cheese market in China is showing signs of recovery after four years of adjustment, with sales decline narrowing and penetration rates increasing by mid-2025 [1][4] - The cheese industry is innovating with two main directions: snack-oriented products for all age groups and specialized products for businesses [1][5] - The sales figures for cheese in China from 2020 to 2022 were 3.239 billion, 4.192 billion, and 4.337 billion yuan, with growth rates of 29.5%, 3.5%, and 3.5% respectively [3] Group 2 - The domestic raw milk prices and production costs are decreasing, leading more cheese companies to target the original cheese market to reduce reliance on imports [2][8] - The first quarter of 2025 saw a 6.26% revenue growth and a 114.88% net profit growth for Shanghai Miao Ke Lan Duo Food Technology Co., Ltd. (Miao Ke Lan Duo), attributed to increased cheese product revenue and decreased raw material costs [3][9] - The penetration rate of cheese in the market increased from 28.8% in March 2025 to 29.2% in June 2025, indicating growth potential compared to other dairy products [4][6] Group 3 - The cheese market is experiencing a shift towards adult snack cheese and meal cheese, with significant growth in these segments [6][7] - The number of new SKUs in the cheese sector is high, indicating rapid innovation and product iteration, with 541 existing, 264 new, and 141 discontinued SKUs reported [5] - The market for original cheese is expected to grow, with companies like Miao Ke Lan Duo and Yili investing in domestic production capabilities to meet demand [9][10] Group 4 - The import dependency for various dairy products is decreasing, with the domestic production rates for cream and butter increasing significantly from 2020 to 2024 [10][11] - The cheese market is still primarily composed of reconstituted cheese, with original cheese production relying heavily on imports, highlighting a potential area for growth in domestic production [8][9] - Major companies in the dairy sector, including Yili and Mengniu, are expanding their presence in the cream and butter markets, indicating a competitive landscape [11]

Core Insights - The 16th China Dairy Industry Conference highlighted the challenges and opportunities in the Chinese dairy sector, particularly focusing on cheese development as a strategic direction for growth [1][2][3] Industry Overview - The Chinese dairy industry is currently facing a slowdown in growth and an oversupply of milk, prompting a shift towards cheese production as a solution to these issues [1] - The cheese industry is seen as a key area for high-quality development in the dairy sector, requiring technological innovation, industry upgrades, and enhanced consumer education [1][2] Cheese Development Strategies - The development of the cheese industry is crucial for addressing supply-demand imbalances in raw milk, with cheese being a significant product that can stabilize prices and enhance market demand [2][4] - Industry leaders emphasize the need for a robust cheese supply chain, product innovation, and integration into local consumption habits to drive growth [2][3] Future Projections - The CEO of Miaokelan Duo expressed confidence that the Chinese cheese market will reach a scale of 100 billion yuan, driven by innovative product offerings and targeted marketing strategies for different consumer demographics [3][4] - The next decade is viewed as a critical period for the cheese industry, with expectations for accelerated growth and the need for collaborative efforts across the industry to achieve this vision [4]

Investment Rating - The report assigns a "Buy" rating for the company, indicating an expected relative increase in stock price of over 20% compared to the benchmark index within the next six months [2][13]. Core Insights - The company is expected to achieve a significant increase in revenue and profit, with a projected net profit growth of 120.02% in 2025, reaching approximately 250 million yuan [7][9]. - The company has successfully integrated Mengniu Cheese into its financials, leading to a notable increase in net profit for the second quarter of 2025, with estimates ranging from 38 million to 63 million yuan, reflecting a year-on-year growth of 13.80% to 89.46% [5][6]. - The introduction of new products and partnerships, such as the collaboration with Jasmine Milk Tea and the launch of cloud cheese and beef cheese sticks, is expected to enhance the company's market position and revenue streams [6]. Financial Summary - The company is projected to generate revenues of 56.01 billion yuan, 65.08 billion yuan, and 78.02 billion yuan for the years 2025, 2026, and 2027, respectively, with growth rates of 15.64%, 16.20%, and 19.88% [7][9]. - The expected earnings per share (EPS) for the same years are 0.49 yuan, 0.67 yuan, and 0.89 yuan, with corresponding price-to-earnings (P/E) ratios of 58, 43, and 32 [7][9]. - The company's gross margin is anticipated to improve, driven by a decrease in raw material costs and effective cost control measures, with a projected gross margin of 30.7% in 2025 [12].