6月4日，富时罗素公布2025年6月富时中国50指数、富时中国A50指数、富时中国A150指数、富时中国A200指数以及富时中国A400指数季检结 果，该变更将于6月20日星期五收盘后生效。 据了解，富时罗素在选股的时候，一般都是根据专业分析、实地考察以及过往的盈利能力作为准则，因此被富时罗素"青睐"的公司在过去的一年经营情况在A股范 围内也是个中翘楚。 富时中国A50指数纳入江苏银行 富时中国A50指数此次将江苏银行纳入，剔除长城汽车，同时将百济神州、伊利股份、上汽集团、赛力斯、汇川技术等纳入备选名单。 富时中国A50指数由富时罗素编制并发布。该指数由上海和深圳证券交易所市场中总市值最大的50只股票组成，反映A股市场中最具影响力的前50大上市公司股票的 表现，不少国际投资者把这一指数看作是衡量中国市场的精确指标。 | 证券代码 | 证券简称 | | --- | --- | | 600919 | 江苏银行 | | | 富时中国A50指数剔除名单 | | 证券代码 | 证券简称 | | 601633 | 长城汽车 | | | 富时中国A50指数备用名单 | | 证券代码 | 证券简称 | | 688235 | ...

Group 1 - FTSE Russell announced the results of the June 2025 quarterly review, including the addition of Jiangsu Bank (600919) to the FTSE China A50 Index and the removal of Great Wall Motors (601633) [1] - Companies such as BeiGene, Yili Group (600887), SAIC Motor (600104), Seres (601127), and Huichuan Technology (300124) have been included in the watchlist for potential inclusion [1]

Group 1 - The Shanghai Urban Consumption Index (H50033) experienced a slight decline of 0.05%, closing at 1843.3 points with a trading volume of 33.902 billion [1] - Over the past month, the index has increased by 1.38%, while it has risen by 0.62% over the last three months, but has decreased by 1.21% year-to-date [1] - The index series reflects the performance of listed companies influenced by changes in economic and consumption structures, focusing on themes such as intensive, intelligent, and green low-carbon development [1] Group 2 - The top ten weighted stocks in the Shanghai Urban Consumption Index include Kweichow Moutai (10.19%), Hengrui Medicine (9.61%), Yili Group (7.63%), WuXi AppTec (6.32%), and others [1] - The index is composed entirely of stocks listed on the Shanghai Stock Exchange, with a 100% market share [1] - The industry composition of the index shows that major consumption accounts for 32.09%, discretionary consumption for 29.08%, healthcare for 28.85%, information technology for 9.55%, and communication services for 0.43% [2]

Core Viewpoint - Yili Group's performance in 2024 has declined significantly, with revenue and net profit both decreasing, reflecting broader challenges in the dairy industry amid economic slowdown and consumer confidence issues [4][6][9]. Financial Performance - Yili achieved a revenue of 115.78 billion yuan in 2024, a decrease of 8.24% year-on-year [4][6]. - The net profit attributable to shareholders was 8.453 billion yuan, down 18.94% from the previous year [4][6]. - The net profit excluding non-recurring items was 6.011 billion yuan, representing a decline of 40.04% [4][6]. - Despite the downturn, Yili's gross margin improved by 131 basis points to 34.03% [9]. R&D and Innovation - Yili's R&D expenses reached 870 million yuan in 2024, an increase of 2.33% year-on-year [7]. - The company has established 15 innovation centers globally, focusing on key areas of international dairy research [7]. - Yili holds the second-highest number of global patent applications in the dairy industry and ranks first in China [8]. Executive Compensation - Yili's chairman and CEO, Pan Gang, received a pre-tax salary of 19.74 million yuan in 2024, a decrease of approximately 9.4% from the previous year [11][12]. - Pan Gang's total compensation, including dividends, amounted to approximately 37 million yuan for the year, averaging over 1 million yuan per day [3][18]. - The total compensation for Yili's board and senior management was 36.52 million yuan, with Pan Gang accounting for about 54% of this total [12]. Dividend Distribution - Yili plans to distribute a total cash dividend of 7.717 billion yuan for 2024, which represents 91.29% of the net profit attributable to shareholders [16]. - The proposed cash dividend per share is 1.22 yuan, including tax [15].

转自：草原云 5月28日，在呼和浩特海关所属赛罕海关监管下，内蒙古金泽伊利乳业有限公司（以下简称金泽伊利公 司）生产的3.1吨婴幼儿配方奶粉（以下简称婴配奶粉）启程发往中国香港，这是呼和浩特市生产的婴 配奶粉首次出口香港。 赛罕海关关员查验出口婴幼儿配方奶粉。 "我们公司是首次出口婴配奶粉，香港对这类产品的检测标准很严格，而且准入流程比较复杂，一直担 心能不能顺利出口。" 金泽伊利公司总经理孙大威说，"海关工作人员了解情况后，多次开展技术指导 帮助我们应对多种挑战，最终产品成功供港！" 在得知企业婴配奶粉产品迫切想打开香港市场的需求后，赛罕海关主动对接企业，提供"一品一策"精准 帮扶。派员第一时间详细梳理供港婴配奶粉在配方注册、检测标准和包装标签方面要求，针对企业在出 口过程中可能遇到的问题，提前制定解决方案，为企业提供全方位的政策指导和技术支持，帮助企业规 避贸易风险。 同时，赛罕海关畅通属地查检"乳品绿色通道"、搭建"5+2"预约查检机制，对出口乳制品实施优先查 检、优先出证、优先放行。 多项便利化举措让通关时间大幅压缩近20%，为企业抢占市场提供有力支撑。 赛罕海关副关长张勃表示，下一步赛罕海关将继续优 ...

Core Points - The company announced a cash dividend of 1.22 RMB per share for the fiscal year 2024, approved at the annual shareholders' meeting on May 20, 2025 [1] - The record date for the dividend is June 5, 2025, with the ex-dividend date and payment date both set for June 6, 2025 [1] - The total number of shares for the dividend distribution is based on the company's total share capital of 6,325,360,667 shares [1] Dividend Distribution Details - The cash dividend will be distributed to all shareholders registered with the China Securities Depository and Clearing Corporation Limited, Shanghai Branch, as of the close of trading on the record date [1] - The company will not implement any differentiated dividend distribution or share transfer [1] - For specific shareholders, such as Hohhot Chengxin Economic and Trade Company and others, the cash dividends will be distributed directly by the company [2] Taxation Information - The company will not withhold individual income tax on the cash dividend, resulting in a net distribution of 1.22 RMB per share [2] - For individual shareholders, the actual tax burden will depend on the holding period of the shares, with a 20% tax for holdings of one month or less, and a 50% reduction for holdings between one month and one year [2][3] - For QFII (Qualified Foreign Institutional Investors), a 10% withholding tax will apply, resulting in a net cash dividend of 1.098 RMB per share after tax [3]

证券代码：600887 证券简称：伊利股份 公告编号：临 2025-047 内蒙古伊利实业集团股份有限公司 2024年年度权益分派实施公告 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： 每股分配比例 A 股每股现金红利1.22元 相关日期 | 股份类别 | 股权登记日 | 最后交易日 | 除权（息）日 | 现金红利发放日 | | --- | --- | --- | --- | --- | | Ａ股 | 2025/6/5 | － | 2025/6/6 | 2025/6/6 | 差异化分红送转： 否 一、通过分配方案的股东大会届次和日期 本次利润分配方案经公司2025 年 5 月 20 日的2024年年度股东大会 审议通过。 二、分配方案 (一) 发放年度：2024年年度 (二) 分派对象： 本次利润分配以方案实施前的公司总股本6,325,360,667股为基数， 向全体股东每股派发现金红利 1.22 元（含税），共计派发现金红利 7,716,940,013.74元。 1 四、分配实施办法 (一) 实施办法 1、 ...

Group 1 - The core viewpoint of the articles highlights the acceleration of localization in Western fast food brands in China, emphasizing the strategy of "Sino-Western integration" to overcome growth bottlenecks in a competitive market [1][10] - As of March 2025, the number of Western fast food outlets in China is projected to reach 325,000, representing a year-on-year growth of 6.6%, with localization innovation becoming a key industry term [1] - Products like Chinese-style hamburgers and fried chicken are rapidly penetrating the market through flavor modifications, with brands like Tastin and McDonald's leading the way in localized offerings [1][10] Group 2 - The trend of deep localization in Western fast food is evident in the creation of uniquely Chinese pizzas, such as century egg tofu pizza and stir-fried chicken pizza, showcased at the 27th China International Bakery Exhibition [2][10] - Contestants at the pizza competition utilized traditional Chinese ingredients and cooking techniques, demonstrating the integration of local flavors into Western food formats [7][10] Group 3 - The use of domestic ingredients, such as high-quality milk sources from Yili, is becoming prevalent in the Western fast food sector, indicating a shift from reliance on imported ingredients to defining standards with local products [11][19] - Yili's mozzarella cheese products are tailored to meet Chinese taste preferences, addressing flavor conflicts between traditional Western cheese and Chinese ingredients [12][15] Group 4 - Yili Professional Dairy has emerged as a "product manufacturing machine," showcasing a range of innovative baked goods at the exhibition, indicating its potential to lead in the industry [20][22] - The company has developed a comprehensive product matrix that spans various dairy categories, catering to the diverse needs of the baking and restaurant sectors [30][33] Group 5 - Yili's investment in a 3 billion yuan cheese manufacturing base in Hohhot enhances its production capabilities, ensuring quality support for creative products showcased at the exhibition [37] - The brand's marketing strategy leverages high-profile endorsements, such as world champion Zheng Qinwen, to strengthen its recognition as a professional dairy brand [39][41]

Industry Overview - The dairy market is experiencing a contraction, with a projected 2.7% year-on-year decline in total sales for 2024 according to Nielsen IQ [1] - Dairy production companies are under significant pressure due to an oversupply of raw milk, leading to increased production of industrial milk powder and a surge in inventory [1] Company Performance - Yili's revenue for 2024 is reported at 115.393 billion yuan, a decrease of 8.24% year-on-year, with a net profit of 8.453 billion yuan, down 18.94% [2] - Mengniu's revenue stands at 88.6748 billion yuan, reflecting a 10.1% decline, while its net profit plummeted by 97.8% to 10.45 million yuan [2] - Bright Dairy reported revenue of 24.278 billion yuan, down 8.33%, with a net profit decrease of 25.36% to 722 million yuan [2] Strategic Shifts - The B2B segment, particularly in partnerships with restaurants and cafes, is becoming increasingly important for dairy companies as they seek to mitigate losses [2] - Yili has formed partnerships with major restaurant chains like Haidilao and Hushang Ayi, while Mengniu has established strategic collaborations with Yum China and Daka International [2] Pricing Dynamics - The competitive landscape has led to significantly lower transaction prices for milk powder, with major tea beverage companies leveraging this to negotiate favorable terms [3] - The decline in milk prices has helped stabilize costs for coffee companies, allowing them to maintain product pricing and profitability [4] Market Impact - The low prices in the dairy sector are seen as a potential pathway for companies to reduce losses by capturing restaurant business [5] - The pricing war in the restaurant market has eased due to the lower dairy prices, providing some relief to the sector [6]

Group 1 - The core issue in the dairy industry is the mismatch between traditional dairy products and new consumer demands, particularly among young and elderly demographics [1][5] - The dairy industry in China experienced its first negative growth in five years, with total production dropping to 29.62 million tons in 2024, a decrease of 1.9% year-on-year [2] - Major dairy companies such as Yili, Mengniu, and Bright Dairy reported revenue declines of 8%-10% in 2024, reflecting the industry's overall downturn [2] Group 2 - Per capita dairy consumption in China fell to 41.5 kg in 2024, a decrease of 5.6% compared to the previous year, while global average consumption is around 140 kg [4] - The structure of dairy products in China is heavily reliant on liquid milk, which has reached a growth bottleneck, necessitating a shift towards high-value imported dairy products [4][5] - The rise of new consumption scenarios, such as ready-to-eat cheese and health-focused products, presents opportunities for growth in the dairy sector [5][7] Group 3 - Dairy companies are increasingly focusing on functional and health-oriented products, with major players like Yili and Mengniu prioritizing product innovation in this area [7][8] - The aging population in China is expected to create significant market opportunities for health-focused dairy products, particularly for the elderly demographic [8][9] - Reports suggest that the "quasi-elderly" group (ages 45-64) also faces nutritional imbalances, indicating a need for targeted dairy products to meet their specific health requirements [9]