证券代码：600887 证券简称：伊利股份 公告编号：临 2025-034 内蒙古伊利实业集团股份有限公司 关于 2024 年度"提质增效重回报"行动方案评估报告 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。 为深入贯彻落实国务院《关于进一步提高上市公司质量的意见》要 求，积极响应上海证券交易所《关于开展沪市公司"提质增效重回报" 专项行动的倡议》，推动公司实现高质量发展，切实保障和维护投资者 合法权益，内蒙古伊利实业集团股份有限公司（简称"公司"）制定了 《2024 年度"提质增效重回报"行动方案》（具体内容详见上海证券交 易所网站 www.sse.com.cn）。公司积极开展和落实相关工作，现将 2024 年度的主要工作报告如下： 公司扎实推进"降本增效"策略，持续优化供应链管理模式，聚焦 优质产能并不断优化布局、兼顾规模效应与柔性生产，同时，适时调整 采购策略并择时采购，有效节降生产成本与物流费用；公司持续推进精 准营销，加快消费者诉求响应，有效提升营销费用使用效率，持续提高 资源使用效率，提升公司盈利能力。 公司不断 ...

证券代码：600887 证券简称：伊利股份 公告编号：临 2025-020 内蒙古伊利实业集团股份有限公司关于 授权全资子公司内蒙古惠商融资担保有限公司 2025 年 为产业链上下游合作伙伴提供担保的公告 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。 为有效促进内蒙古伊利实业集团股份有限公司（简称"公司"）主业 发展，解决产业链上下游合作伙伴经营中融资难、融资贵的问题，提升 产业链竞争力，根据《中华人民共和国公司法》《中华人民共和国民法典》 《融资担保公司监督管理条例》《上市公司监管指引第 8 号——上市公司 资金往来、对外担保的监管要求》《上海证券交易所股票上市规则》及《内 蒙古伊利实业集团股份有限公司章程》《内蒙古伊利实业集团股份有限公 司对外担保管理制度》等相关规定，公司全资子公司内蒙古惠商融资担 保有限公司（简称"担保公司"）2025 年拟为公司产业链上有良好合作 关系的上下游合作伙伴提供融资担保。 一、担保情况概述 担保公司为公司产业链上下游合作伙伴提供的融资担保，具有担保 客户分散、单笔担保金额小、担保笔数多、频 ...

Core Viewpoint - In a challenging industry environment, Yili Group demonstrates resilience and strong performance with impressive financial results, showcasing its robust operational quality and strategic adjustments to drive growth [1][2]. Financial Performance - Yili achieved a total revenue of 115.78 billion yuan in 2024, maintaining its position as the leading dairy company in Asia, with a net profit of 11.54 billion yuan, reflecting a growth of 12.2% after excluding goodwill impairment [1] - In Q1 2025, Yili reported a revenue of 33.02 billion yuan, a year-on-year increase of 1.35%, and a net profit of 4.63 billion yuan, marking a significant growth of 24.19% [1] - The overall gross margin for 2024 increased by 131 basis points to 34.03%, indicating enhanced profitability, while operating cash flow reached 21.74 billion yuan, up 18.86% [2]. Shareholder Returns - Yili plans to distribute a cash dividend of 7.73 billion yuan for 2024, with a payout ratio of 91.4%, setting a new historical high [3] - The total shareholder return, including dividends and share buybacks, reached 100.4% of profits, reflecting strong cash flow and management confidence in long-term growth [3]. Business Diversification - Yili's strategy to enhance business balance through a three-tier business matrix is aimed at building resilience against market cycles [4]. - The liquid milk and ice cream segments remain strong, with liquid milk revenue reaching 75.00 billion yuan, maintaining the top industry position [5]. - The milk powder and dairy products segment achieved a revenue of 29.68 billion yuan, growing by 7.53%, contributing to Yili's competitive advantage [5]. Innovation and Sustainability - Yili emphasizes a "quality × N" strategy, integrating innovation, digitalization, and sustainability to drive long-term value [9]. - The company operates 15 R&D centers globally, enhancing its innovation capabilities in dairy products [10]. - Yili's commitment to sustainable development is evident in its initiatives in green practices, rural revitalization, and social welfare, positioning it as a leader in sustainable dairy practices [12].

智通财经4月29日电，伊利股份（600887.SH）发布2025年一季报，公司一季度实现营业总收入330.18亿 元，同比增长1.35%，扣非归母净利46.29亿元，同比增长24.19%，经营业绩逆势双增，实现超预期增 长。其中，液体乳、冷饮业务营收分别为196.40亿元、41.05亿元，均稳居行业第一；奶粉及奶制品业务 表现亮眼，逆势增长，实现营收88.13亿元，同比增18.65%。另据2024年年报披露，2025年，伊利股份 计划实现营业总收入1190亿元，利润总额126亿元，与2024年相比，分别同比提升2.8%、24.4%。 伊利2025年一季度业绩超预期 营收、扣非净利逆势双增 ...

险资入市又有了新进展。 4月29日晚，新华保险公告称，公司拟出资不超过100亿元认购由国丰兴华（北京）私募基金管理有限公司发起 设立的私募基金的份额。该基金成立规模为200亿元，新华保险与中国人寿拟各出资100亿元认购私募基金份 额。 公告显示，该基金投资范围为中证A500指数成份股中符合条件的大型上市公司A+H股。 据了解，该私募基金的名称暂定为国丰兴华鸿鹄志远二期私募证券投资基金（简称"鸿鹄志远二期"），由国丰 兴华发起设立。鸿鹄志远二期存续期限为10年，私募基金贯彻长期投资理念，通过低频交易、长期持有的方式 以获得稳健股息收益。 鸿鹄志远二期的规模为200亿元，新华保险与中国人寿拟各出资100亿元认购私募基金份额。基金投资范围为， 中证A500指数成 份 股中符合条件的大型上市公司A+H股。 据新华保险公告，鸿鹄志远二期的投资标的应当公司治理良好、经营运作稳健、股息相对稳定、股票流动性相 对较好，与保险资金长期投资需求相适应。 新华保险表示，本次投资事项符合国家推动中长期资金入市的相关政策，以及未来本公司整体战略发展方向。 本公司坚持长期投资、价值投资和稳健投资的理念，积极发挥好长期资本、耐心资本、高能 ...

伊利股份（600887）公告，2025年第一季度营收为329.38亿元，同比增长1.46%；净利润为48.74亿元， 同比下降17.71%。 ...

Investment Rating - The industry rating is "Outperform" (maintained rating) [5] Core Viewpoints - The report highlights a positive outlook for the beverage sector, driven by the upcoming peak season and supportive macroeconomic policies from the central government [2][12] - The report emphasizes the potential for valuation recovery in the liquor sector, particularly in light of the recent political bureau meeting that indicated a more proactive fiscal and monetary policy [2][12] Summary by Sections Market Performance Review - For the week of April 21 to April 25, the food and beverage sector declined by 1.36%, while the Shanghai Composite Index rose by 0.38%. Notable performances included snacks (+4.50%) and soft drinks (+2.21%), while categories like beer (-0.72%) and health products (-1.28%) saw declines [1][19] Weekly Perspective Updates - **Liquor Sector**: The liquor sector saw a decline of 1.75%, attributed to the off-peak consumption period and inventory adjustments. However, the upcoming May Day holiday is expected to boost demand for banquet scenarios, aiding in inventory reduction [2][12] - **Beer and Beverage Sector**: The beer sector decreased by 0.72%, but companies like Zhujiang Brewery saw a 5.7% increase in stock price due to better-than-expected Q1 performance. The report anticipates improved demand as the weather warms and consumption policies are implemented [3][13] - **Consumer Goods Sector**: The report identifies opportunities in the snack sector, with a focus on companies that have shown resilience and potential for growth. The upcoming sales season for soft drinks is also highlighted as a catalyst for growth [3][14] Investment Recommendations - **Liquor Sector**: Recommended stocks include strong alpha leaders like Moutai and Shanxi Fenjiu, as well as cyclical stocks like Luzhou Laojiao and Jiugui Liquor [4][18] - **Consumer Goods**: The report recommends focusing on snacks and dairy products, with specific mentions of companies like Ganyuan Foods and Yuyuan Foods, which are expected to benefit from low base effects in Q2 [4][18] Sector and Individual Stock Performance - The report provides detailed performance metrics for various sectors, indicating that the snack and soft drink sectors are currently outperforming others, while the liquor sector is under pressure [19][22]

Core Viewpoint - The Chinese dairy industry is undergoing a significant transformation driven by changes in population structure, particularly a decline in newborn numbers, prompting companies to shift from passive responses to proactive strategies, including substantial fertility subsidy programs aimed at stimulating birth rates and consumer potential [3][4][5]. Group 1: Market Dynamics - The infant formula market has shrunk from 188.5 billion yuan in 2020 to 157.2 billion yuan in 2023, with newborn numbers dropping to 9.02 million in 2023, nearly halving since 2016 [3][4]. - Major dairy companies like Feihe and Yili have launched substantial fertility subsidy plans, with Feihe committing 1.2 billion yuan and Yili 1.6 billion yuan to support eligible families [4][5]. - The introduction of these subsidies is a strategic response to a shrinking market, with companies aiming to capture consumer demand from pregnancy through early childhood [4][6]. Group 2: Competitive Strategies - The competition among dairy companies has shifted from price wars to subsidy wars, with a focus on user engagement and long-term customer relationships [5][6]. - Companies are leveraging these subsidies to bypass traditional retail channels, directly reaching consumers and reducing the influence of intermediaries [6][7]. - The trend of declining mother-baby retail stores, which have seen a 40% reduction in numbers over the past five years, has prompted companies to innovate their business models [6][8]. Group 3: Industry Implications - The high subsidies represent a "capital game" among leading firms, with market concentration increasing as the top five companies' market share rose by 7 percentage points to 68% in 2023 [8]. - Smaller regional brands face challenges in competing with the financial power of larger companies, leading to a potential reduction in their market presence [8]. - The long-term success of these subsidy initiatives will depend on the companies' ability to convert short-term incentives into lasting consumer loyalty through product quality and service [8].

虽然很多朋友不买股票，或者股票只是配置之一， 但我的全部资金，将将七位数，都放在了 股票。 目前持仓5支如下：平安银行，中国平安，上海机场，伊利股份，金龙鱼，大约各1/5，总体 处于盈亏边缘。 配置思路：打新、分红，偏点进攻。 准备至少拿个三五年，希望翻倍。以上配置，问题大不大，如何优化？ 再次是现金比例：没有现金的仓位，没有容错的能力； 最后是目标选择：你的目标是至少拿个三五年，希望翻倍，那么预期收益率是20%-33%； 这样的结果是你必须进行高风险的操作，以高于市场20%-33%的风险实现自己的收益。大 概率的结果是毁于某次风险事件。 qgj8848 我觉得没啥问题，楼主就是打新、收息，顺便赚点差价。不过根据我自身配置给点建议： 1、持仓最好收息+成长并重。 jakkeew 斗胆建议：楼主策略似是蓝筹、长期和分散。在这个原则下，（1）两个平安配置显重叠，择 一即可，（2）上海机场PB不低，公用事业不如长电国投或类似；（3）伊利的护城河一般， 私有化存疑，不如配个酒水股；（4） 金龙鱼行业太差了，简单加工，品牌价值低，没有长 持意义，不如增加两个制造业。综上，平安银行、国投电力、贵州茅台、美的集团和宁德时 ...

Industry Overview - The dairy industry concept has seen a decline of 4.12%, ranking among the top sectors in terms of drop in value [1] - Major companies within the sector, such as Beiyinmei, have experienced significant losses, with Beiyinmei hitting the daily limit down [1] Market Performance - The dairy sector faced a net outflow of 640 million yuan from main funds today, with 31 stocks experiencing net outflows [2] - Beiyinmei led the outflow with 201 million yuan, followed by Yili Group with 117 million yuan and Dabeinong with 39.64 million yuan [2] Stock Performance - Beiyinmei's stock dropped by 9.94% with a turnover rate of 26.27% and a net outflow of 200.52 million yuan [2] - Other notable declines include: - Yili Group: -1.28% with a net outflow of 116.71 million yuan - Dabeinong: -1.46% with a net outflow of 39.64 million yuan - Wewei Co.: -8.84% with a net outflow of 37.92 million yuan [2][3]