证券代码：600887 证券简称：伊利股份 公告编号：临2025-085 内蒙古伊利实业集团股份有限公司 2025年第一次临时股东大会 决议公告 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： ● 本次会议是否有否决议案：无 一、会议召开和出席情况 (一)股东大会召开的时间：2025年11月28日 (二)股东大会召开的地点：呼和浩特市金川开发区金四路8号伊利全球人才发展中心二楼会议室 (三)出席会议的普通股股东和恢复表决权的优先股股东及其持有股份情况： ■ (四)表决方式是否符合《公司法》及《公司章程》的规定，大会主持情况等。 本次会议由董事会召集，公司董事长潘刚先生因工作原因不能出席并主持本次股东大会，根据《公司章 程》相关规定，经半数以上董事共同推举由执行董事王晓刚先生主持本次股东大会。会议采用现场投票 与网络投票相结合的表决方式。会议的召集、召开及表决方式符合《公司法》《公司章程》及其它有关 法律法规的规定。 (五)公司董事、监事和董事会秘书的出席情况 1、公司在任董事11人，出席8人，董事潘刚、赵成霞、 ...

Group 1: Economic Indicators and Consumer Trends - The CPI in October showed a slight improvement, with a year-on-year increase of 0.2% and a month-on-month increase of 0.2%, indicating a potential recovery trend that may continue into the first half of next year [6][10] - The retail sales of consumer goods in October reached 46,291 billion yuan, growing by 2.93% year-on-year, with significant improvements in essential consumption categories such as food and beverages [10] - The restaurant sector saw a monthly revenue of 5,199 billion yuan in October, reflecting a year-on-year growth of 3.8%, driven by the National Day and Mid-Autumn Festival holidays [10] Group 2: Frozen and Food Supply Industry - The frozen food and catering industry is witnessing a shift from price wars to product innovation and channel development, with companies focusing on quality and service rather than just price competition [11] - Major players like Anjiyuan and Qianwei Central Kitchen are transitioning their strategies to emphasize product quality and operational efficiency, leading to improved profitability [11][15] - The industry is entering a "hard strength reshuffle period," where companies are expected to enhance their product offerings and service capabilities to maintain competitiveness [11] Group 3: Snack Food Sector - The snack food sector is experiencing a weak recovery, with a clear differentiation in growth among brands and channels, driven by strategic adjustments and product innovations [33][34] - The emergence of the konjac category as a significant growth driver, with market potential expected to reach 300 billion yuan by 2025, indicates a strong consumer demand for healthy snacks [34][40] - Companies like Yummy Foods and Salted Fish are leveraging their core products and channel strategies to achieve substantial growth, with a focus on high-margin products and efficient cost management [34][42] Group 4: Specific Company Strategies - Anjiyuan is focusing on high-margin products and channel expansion, with significant growth in its core offerings like volcanic stone grilled sausages and high-end dumplings [12][13] - Qianwei Central Kitchen is seeing improvements in its direct sales and distribution channels, with a focus on enhancing profitability through strategic adjustments in customer structure and resource allocation [15][18] - Salted Fish is capitalizing on the konjac trend and optimizing its product mix to improve profitability, with a strong emphasis on high-margin products and efficient channel management [40][41]

Investment Focus - Alphabet (GOOGL US) is expected to maintain good visibility in its advertising business due to the gradual release of its valuation under pressure from AI search, with a projected 30%+ growth in cloud business for the year and margin improvement driven by scale effects [1] - Alibaba (BABA US) is anticipated to see a cloud business growth rate of 28%-30%, benefiting from strong momentum in instant retail, with Taobao expected to achieve a 20-30% MAU growth driven by flash purchase [1] - NVIDIA (NVDA US) is projected to achieve strong revenue growth in FY2027, with GB300 series products expected to account for two-thirds of Blackwell series products, and a revenue target of $500 billion over the next five quarters [1] - Tencent (700 HK) is recommended as a top pick, with a target price of 700, driven by steady growth in core gaming and advertising businesses, and a projected near 20% growth rate in advertising [3] - New Oxygen (SY US) is focusing on the light medical beauty sector with a rapid expansion plan, aiming to open 50 self-operated stores by 2025, supported by a strong marketing capability and low customer acquisition costs [3] - Ctrip (TCOM US) is expected to benefit from steady growth in domestic leisure travel and the recovery of outbound travel, with a projected revenue growth of 14% to 71.1 billion yuan in 2026 [3] - Huazhu (HTHT US) is transitioning to a high-margin franchise model, with a target price of $52, supported by a strong recovery in industry RevPar [4] - Futu (FUTU US) is positioned for long-term growth in the virtual asset business, with a user base of 3.1 million and a current valuation offering a safety margin [4] - AIA (1299 HK) is expected to see steady growth in new business value and operational indicators, with a forward PEV of 1.46x [4] - Dongfang Electric (1072 HK) is actively involved in global power station project contracting, with significant opportunities in the U.S. market due to the demand for power supply capabilities [9]

Group 1 - Sohu is transitioning from a traditional internet media platform to a social platform, focusing on "attention flow" where users can share, follow, and consume content, enhancing social interactions through video [1] - The dairy industry in China is shifting from quantity to quality, with a growing demand for precise, professional, and functional nutritional products, leading to a focus on deep processing as a key for industry upgrade [1] Group 2 - In the face of a downward cycle in the liquor industry, companies must innovate by creating competitive "super products" supported by "super channels, super communication, and super experiences" to achieve growth [2] - The long-term bullish trend for gold remains intact, but a short-term adjustment is expected due to rapid price increases, with recommendations for asset allocation in gold ranging from 5% to 30% [2] - The core logic for gold's price increase in 2025 remains unchanged, with expectations for further increases in gold allocation by global central banks and investors in 2026, despite current high valuations potentially leading to increased price volatility [2]

内蒙古伊利实业集团股份有限公司 章 程 2025年11月修订 第一章 总 则 第一条 为维护公司、股东、职工和债权人的合法权益，规范公司的组织和行为，根 据《中华人民共和国公司法》（以下简称《公司法》）、《中华人民共和国证券法》（以 下简称《证券法》）和其他有关规定，制定本章程。 第二条 公司系依照《中华人民共和国公司法》和其他有关规定成立的股份有限公司 （以下简称"公司"）。 公司经呼和浩特市体改委呼体改宏字[1993]4号文件批准（根据内蒙古体改委、内蒙古 计委、内蒙古经委、内蒙古财政厅、人民银行内蒙分行内政体改[1992]5号文授权），以募 集 方 式 设 立 ； 在 登 记 机 关 注 册 登 记 ， 取 得 营 业 执 照 ， 统 一 社 会 信 用 代 码 为 91150000114124263Y。 第三条 公司于1996年1月25日经中国证券监督管理委员会（以下简称"中国证监会"） 批准，首次向社会公众发行人民币普通股1,715万股，于1996年3月12日在上海证券交易所上 市。 第四条 公司注册中文名称：内蒙古伊利实业集团股份有限公司 公司英文名称：INNER MONGOLIA YILI IN ...

内蒙古伊利实业集团股份有限公司 股东会议事规则 （2025 年修订） 第一章 总 则 第一条 为进一步规范内蒙古伊利实业集团股份有限公司（简称"公 司"）行为，明确股东会的职责权限，规范其运作程序，保证股东会依法 行使职权，根据《中华人民共和国公司法》（简称"《公司法》"）、《中华 人民共和国证券法》（简称"《证券法》"）、《上市公司股东会规则》等法 律、法规、规范性文件及《内蒙古伊利实业集团股份有限公司章程》（简 称"《公司章程》"）的有关规定，结合公司实际情况，制定本规则。 第二条 公司应当严格按照法律、行政法规及《公司章程》、本规则 的相关规定召开股东会，保证股东能够依法行使权利。 公司董事会应当切实履行职责，认真、按时组织股东会。公司全体 董事应当勤勉尽责，确保股东会正常召开和依法行使职权。 第三条 股东会应当在《公司法》和《公司章程》规定的范围内行 使职权。 第二章 股东会的一般规定 第四条 公司股东会由全体股东组成。股东会是公司的权力机构， 依法行使下列职权： （一）选举和更换非由职工代表担任的董事，决定有关董事的报酬 事项； （二）审议批准董事会的报告； （三）审议批准公司的利润分配方案和弥补亏 ...

内蒙古伊利实业集团股份有限公司 董事会议事规则 （2025 年修订） 第一章 总 则 第一条 为了进一步规范内蒙古伊利实业集团股份有限公司（简称 "公司"）董事会的议事方式和决策程序，明确公司董事会的职责权限， 促使董事和董事会有效地履行其职责，提高董事会规范运作和科学决策 水平，根据《中华人民共和国公司法》（简称"《公司法》"）、《中 华人民共和国证券法》《上市公司治理准则》《上海证券交易所股票上 市规则》《上海证券交易所上市公司自律监管指引第 1 号——规范运作》 及《内蒙古伊利实业集团股份有限公司章程》（简称"《公司章程》"） 等有关规定，结合公司实际情况，制定本规则。 第二条 公司设董事会秘书，负责公司股东会和董事会会议的筹备、 文件保管以及公司股东资料管理，办理信息披露事务等事宜。 第三条 董事会下设董事会办公室，处理董事会日常事务。 董事会秘书或者证券事务代表兼任董事会办公室负责人，保管董事 会印章。 第二章 董事会的职责权限 第四条 董事会行使下列职权： 1 （一）召集股东会，并向股东会报告工作； （二）执行股东会的决议； （三）决定公司的经营计划和投资方案； （四）决定公司的年度财务预算方案、 ...

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： 本次会议是否有否决议案：无 一、会议召开和出席情况 (一)股东大会召开的时间：2025 年 11 月 28 日 (二)股东大会召开的地点：呼和浩特市金川开发区金四路 8 号伊利 全球人才发展中心二楼会议室 证券代码：600887 证券简称：伊利股份 公告编号：临 2025-085 内蒙古伊利实业集团股份有限公司 2025年第一次临时股东大会决议公告 本次会议由董事会召集，公司董事长潘刚先生因工作原因不能出席 并主持本次股东大会，根据《公司章程》相关规定，经半数以上董事共 同推举由执行董事王晓刚先生主持本次股东大会。会议采用现场投票与 网络投票相结合的表决方式。会议的召集、召开及表决方式符合《公司 法》《公司章程》及其它有关法律法规的规定。 (五)公司董事、监事和董事会秘书的出席情况 1 1、公司在任董事11人，出席8人，董事潘刚、赵成霞、高振宇因工 作原因未能亲自出席本次会议； 2、公司在任监事5人，出席4人，监事白利因工作原因未能亲自出席 本次会议； 3、董事会 ...

二〇二五年十一月 北京天驰君泰律师事务所 http://www.tiantailaw.com 总机/T:+8610 -6184 8000 传真/F:+8610-61848009 地址： 北京市朝阳区北辰东路八号汇宾大厦六层、七层、十七层、二十层 北京天驰君泰律师事务所 关于内蒙古伊利实业集团股份有限公司 2025 年第一次临时股东大会的 法律意见书 致：内蒙古伊利实业集团股份有限公司 北京天驰君泰律师事务所（以下简称"本所"）接受内蒙古伊利实业 集团股份有限公司（以下简称 "公司"）的委托，根据《中华人民共和 国公司法》（以下简称"《公司法》"）、《中华人民共和国证券法》（以 下简称"《证券法》"）和中国证券监督管理委员会《上市公司股东会规 则》（以下简称"《股东会规则》"）等相关法律、行政法规、部门规章 和规范性文件（以下简称"法律、行政法规和规范性文件"），以及现行 有效的《内蒙古伊利实业集团股份有限公司章程》（以下简称"《公司 章程》"）的规定，就公司 2025 年第一次临时股东大会（以下简称"本 次股东大会"）有关事项出具法律意见书（以下简称"本法律意见书"）。 北京天驰君泰律师事务所 关于内蒙古伊利 ...

Core Insights - The dairy sector has seen a notable increase of 2.82%, ranking third among concept sectors, with 33 stocks rising, including Yantang Dairy and Sunshine Dairy reaching their daily limit up [1] - Major inflows of capital into the dairy sector amounted to 443 million yuan, with 23 stocks experiencing net inflows, and six stocks seeing inflows exceeding 30 million yuan [1] Capital Inflows - Leading the net capital inflows is Yili Group with 129 million yuan, followed by Sunshine Dairy, Panda Dairy, and Yantang Dairy with net inflows of approximately 93.66 million yuan, 59.03 million yuan, and 53.08 million yuan respectively [1][2] - The net inflow ratios for Sunshine Dairy, Yantang Dairy, and Panda Dairy are 47.36%, 16.49%, and 13.40% respectively, indicating strong investor interest [2] Stock Performance - Yili Group's stock increased by 1.14%, while Sunshine Dairy and Yantang Dairy both surged by 9.99%, showcasing significant daily performance [2][3] - Other notable performers include Panda Dairy with a 5.90% increase and Huangshi Group with a 5.35% rise [1][2] Trading Activity - The trading volume for Yili Group was approximately 12.36%, while Sunshine Dairy had a turnover rate of 4.46%, indicating active trading in these stocks [2][3] - Stocks like Beiyinmei and Huangshi Group also showed healthy turnover rates of 4.78% and 15.18% respectively, reflecting investor engagement [2][3]