| 名称 | | | | 发行总额 | | 发行利率 | 发行期限 | | | 起息日 | | | | 兑付日 | | | | 公告编号 | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 公司 2025 年度第十 | | | | | | | | | | | | | | | | | | | | | | 一 期 科 新 债 （乡村振兴） | 技创 | | 券 | 40 | 亿元 | 1.48% | 182 | 天 | 2025 | 年 7 | 月 | 15 日 | 2026 | 年 1 | 月 | 13 | 日 | 2025-057 | | 临 | | 公司 2025 六期超短期融资券 | | 年度第十 | | 50 | 亿元 | 1.50% | 89 | 天 | 2025 | 年 10 | 月 | 16 日 | 2026 | 年 1 | 月 | 13 | 日 | | 2025-071 | 临 ...

内蒙古伊利实业集团股份有限公司 关于为全资子公司提供担保的进展公告 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： 担保对象及基本情况 | | 被担保人名称 本次担保债务本金余额 | 合计不超过 | 香港金港商贸控股有限公司 14.52 亿元人民币 | | --- | --- | --- | --- | | 担保对象 | 实际为其提供的担保余额 | 1.85 | 亿元人民币 | | | 是否在前期预计额度内 | √是 □否 | □不适用：_______ | | | 本次担保是否有反担保 | □是 √否 | □不适用：_______ | 累计担保情况 证券代码：600887 证券简称：伊利股份 公告编号：临 2026-006 | 对外担保逾期的累计金额（亿元人民币） | | | 0.47 | | --- | --- | --- | --- | | 截至 2026 1 月 日公司及其控股子公司对外担保余额（亿元人民币） | 年 | 13 | 58.69 | | 对外担保余额占公司最近一期经审计净资产的比例（%） | ...

伊利股份公告称，2026年1月13日，公司与多家银行签署保证合同，为全资子公司香港金港商贸控股有 限公司的银行授信及贷款业务提供连带责任保证担保，担保债务本金余额合计不超14.52亿元。公司于 2025年已审议通过相关担保议案，本次担保在额度范围内，无需再审议。截至1月13日，公司及控股子 公司对外担保余额58.69亿元，占最近一期经审计净资产的11.04%，对外担保逾期累计金额0.47亿元。 ...

Core Viewpoint - Yili Group (600887.SH) has successfully completed the repayment of its 2025 annual eleventh phase of technology innovation bonds (rural revitalization) and the sixteenth phase of ultra-short-term financing bonds, with a total principal and interest repayment amounting to approximately RMB 4.03 billion and RMB 5.02 billion respectively [1] Group 1 - The company completed the repayment of technology innovation bonds on January 13, 2026 [1] - The total repayment amount for the technology innovation bonds was RMB 4,029,518,904.11 [1] - The total repayment amount for the ultra-short-term financing bonds was RMB 5,018,287,671.23 [1]

Group 1 - The core point of the article highlights that Yili Co., Ltd. experienced a decline of 0.47% in its stock price, closing at 27.40 yuan, with a significant block trade occurring [1] - The block trade involved a total volume of 70,000 shares and a transaction amount of 2.0006 million yuan, with a premium rate of 4.31% [1] - The buyer and seller of the block trade were both from Dongfang Securities Co., Ltd., located in Shanghai [1] Group 2 - Over the past three months, Yili Co., Ltd. has recorded only one block trade, with a total transaction amount of 2.0006 million yuan [1] - In the last five trading days, the stock has seen a cumulative decline of 3.59%, with a net outflow of 141 million yuan from major funds [1]

1月14日，伊利股份大宗交易成交7万股，成交额200.06万元，占当日总成交额的0.12%，成交价28.58 元，较市场收盘价27.4元溢价4.31%。 | 交易日期 | | 证券代码 | 成交价(元) 成交金额(万元) 成交量( *) 买入营业部 | | | 卖出营业部 | 是否为专场 | | --- | --- | --- | --- | --- | --- | --- | --- | | 026-01-14 | 伊利股份 | 600887 28.58 | 200.06 | 藝育理學醫學 | 藝術醫學 | | 190 | ...

Core Insights - The overall sales performance of offline channels in the food and beverage sector is under pressure for the period of January to December 2025, with notable differentiation in the soft drink industry across various segments [1] - Functional beverages and ready-to-drink juices are maintaining high single-digit growth, while the snack food category shows strong growth in konjac products and healthy snacks [1] Beverage Sector - Beer sales are under pressure with a year-on-year decline of 6.7% in sales for January to December 2025, although average prices continue to rise [2] - Ready-to-drink cocktails have seen a cumulative year-on-year sales decline of 9.9%, while the market share of the brand Rio remains stable [2] - The soft drink industry shows varied performance across segments, with functional beverages experiencing a year-on-year sales increase of 9.3% and ready-to-drink juices seeing an average price increase of 7.8% [2] Dairy Products - The demand for dairy products continues to face pressure, although there is a quarter-on-quarter improvement in Q4 2025 [2] - Leading dairy companies are performing relatively well in the low-temperature yogurt segment, which is positively impacting overall yogurt performance compared to the broader dairy market [2] Condiments and Snacks - Basic condiments prioritize price, with leading brands continuing to capture market share [3] - The performance of spicy snack foods shows significant differentiation, with konjac products and certain specialty items providing crucial support [3] - Healthy snacks are experiencing notable growth, while the nut and dried fruit category is under pressure due to the timing of the Spring Festival affecting December sales [3] - Sweet snacks are generally underperforming, with widespread year-on-year declines [3] Frozen Foods - Hot pot ingredients are showing a trend of volume growth with stable prices, while competition remains fierce in the frozen dumpling and tangyuan markets [3] - By December 2025, the frozen food sector enters a peak stocking phase, with hot pot ingredients, frozen prepared foods, and frozen snacks achieving year-on-year growth, while frozen dumplings and tangyuan continue to face pressure [3] Recommendations - Recommended stocks in the A-share market include Anjuke Food, Yanjinpuzi, New Dairy, Ximai Food, Yanjing Beer, Dongpeng Beverage, Yili Group, Qianhe Flavor, and Haitian Flavor [4] - Recommended stocks in the H-share market include Weilong, Gu Ming, Master Kong, Uni-President China, Nongfu Spring, China Resources Beer, Mengniu Dairy, and Qingdao Beer [4]

Group 1 - The core viewpoint of the article emphasizes the importance of policies aimed at boosting consumption, highlighting the collaboration between business and financial sectors to enhance consumer spending [1][2] - The China Securities Major Consumption Index, which focuses on the consumption sector, has an average free float market capitalization exceeding 600 billion yuan, reflecting the overall performance of major consumption stocks in the A-share market [2][3] - The index includes 38 sample stocks, with a free float market capitalization ranging from 36.47 billion yuan to 8,885.48 billion yuan, indicating significant growth potential in the consumption sector [2][4] Group 2 - The index is heavily concentrated in the food and beverage sector, with a weight of 67.62%, and agriculture, forestry, animal husbandry, and fishery at 28.42%, together covering over 96% of the index's weight [4][5] - The top ten stocks in the index are supported by leading companies such as Kweichow Moutai, Yili, and Wuliangye, which have strong brand recognition and stable cash flows [5][6] - The ongoing policy support for consumption is expected to enhance the long-term value and growth potential of the consumption sector, making the China Securities Major Consumption Index a quality benchmark for investing in core consumption assets [7]

Investment Rating - The report assigns an "Overweight" rating for the food and beverage industry, indicating a positive outlook for the sector relative to the broader market [1]. Core Insights - The report highlights that the Consumer Price Index (CPI) in December 2025 reached its highest year-on-year increase since March 2023, with food prices continuing to improve. This is attributed to policies aimed at boosting domestic demand and increased consumer spending during the New Year period [5][48]. - The food and beverage sector saw a 2.12% increase in the market last week, underperforming the CSI 300 index by 0.66 percentage points, ranking 26th among 31 sectors [10]. - Key companies such as Sam's Club and Alibaba are expanding aggressively, with Sam's Club projected to exceed 140 billion yuan in sales for 2025, marking a 40% increase from 2024 [48]. Summary by Sections 1. Market Performance - The food and beverage sector's performance was highlighted, with a 2.12% increase last week, while the pre-processed food sub-sector performed particularly well with a 6.72% increase [10][13]. - The top five performing stocks included Qianwei Yangchun, Anji Food, and Yangyuan Beverage, with respective increases of 22.52%, 18.34%, and 14.78% [10][15]. 2. Price Trends - The report notes that food prices have shown significant increases, particularly in fresh vegetables and fruits, which rose by 18.2% and 4.4% year-on-year, respectively [5]. - The price of milk was reported at 12.17 yuan per liter, with a slight year-on-year decrease of 0.16% [26]. 3. Industry Dynamics - The report discusses the expansion of membership supermarkets and instant retail, with notable growth in companies like Sam's Club and Alibaba's Taobao Flash Sale [48][49]. - The government is implementing a comprehensive policy to stimulate domestic demand, focusing on enhancing consumer spending and supporting private investment [49]. 4. Core Company Updates - New Dairy announced a cash dividend of 0.70 yuan per share, while Fuling Pickled Vegetables and Luzhou Laojiao also declared significant cash dividends [51].

Market Overview - The beverage and dairy sector experienced a decline of 1.09% on January 13, with Huanlejia leading the drop [1] - The Shanghai Composite Index closed at 4138.76, down 0.64%, while the Shenzhen Component Index closed at 14169.4, down 1.37% [1] Individual Stock Performance - The top performer in the beverage and dairy sector was Quanyangquan, which rose by 2.82% to a closing price of 7.29, with a trading volume of 307,300 shares and a transaction value of 224 million [1] - Huanlejia saw the most significant decline, dropping 10.06% to a closing price of 28.60, with a trading volume of 258,700 shares and a transaction value of 803 million [2] - Other notable declines included Yangguang Dairy (-3.38%), Qishi Dairy (-3.26%), and Junyao Health (-2.85%) [2] Capital Flow Analysis - The beverage and dairy sector experienced a net outflow of 297 million from institutional investors, while retail investors saw a net inflow of 328 million [2] - The capital flow for individual stocks showed that Quanyangquan had a net outflow of 22.58 million from institutional investors, while Tianrun Dairy had a net inflow of 10.96 million [3] - Overall, retail investors contributed positively to several stocks, with notable inflows into Jiahua Food and Zhuangyuan Pasture [3]