证券代码：600887 证券简称：伊利股份 公告编号：临 2025-077 内蒙古伊利实业集团股份有限公司 关于取消监事会并修改《公司章程》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。 内蒙古伊利实业集团股份有限公司（简称"公司"）于2025年10月29 日召开了第十一届董事会第八次会议及第十一届监事会第八次会议，审 议并通过了《公司关于取消监事会并修改<公司章程>的议案》。现对相 关事项公告如下： 为进一步完善公司治理结构，推动公司规范运作，根据《中华人民 共和国公司法》（简称"《公司法》"）、《上市公司章程指引》（简称"《章 程指引》"）等相关法律法规的规定，公司拟不再设置监事会，监事会的 职权由董事会审计委员会行使，相应废止《内蒙古伊利实业集团股份有 限公司监事会议事规则》，公司其他制度中涉及"监事会""监事"的相 关规定不再适用。 在公司股东大会审议通过取消监事会设置事项前，公司第十一届监 事会及监事仍将严格按照《公司法》《内蒙古伊利实业集团股份有限公司 章程》（简称"《公司章程》"）等相关规定的要求，勤勉尽 ...

证券代码：600887 证券简称：伊利股份 公告编号：临 2025-079 内蒙古伊利实业集团股份有限公司 关于 2025 年第三季度经营数据的公告 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。 根据上海证券交易所《上市公司行业信息披露指引第十四号——食 品制造（2022 年修订）》的相关规定，现将内蒙古伊利实业集团股份有 限公司 2025 年第三季度主要经营数据（未经审计）公告如下： 一、主营业务经营情况 | | 销售模式 | 2025 | 年 7-9 | 月 | 2025 年 1-9 月 | | --- | --- | --- | --- | --- | --- | | 经销 | | | 27,094,477,894.13 | | 86,451,848,878.36 | | 直营 | | | 1,191,870,271.31 | | 3,152,960,383.04 | | | 合计 | | 28,286,348,165.44 | | 89,604,809,261.40 | （三）主营业务收入按地区分部分类情况 单位：元 ...

证券代码：600887 证券简称：伊利股份 公告编号：临 2025-078 内蒙古伊利实业集团股份有限公司 关于召开2025年第一次临时股东大会的通知 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。 股东大会召开日期：2025年11月28日 本次股东大会采用的网络投票系统：上海证券交易所股东大会网 络投票系统 一、召开会议的基本情况 （一）股东大会类型和届次 2025年第一次临时股东大会 （二）股东大会召集人：公司董事会 （三）投票方式：本次股东大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 召开的日期时间：2025 年 11 月 28 日14 点 00 分 召开地点：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 重要内容提示： 不适用 （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大会网络投票系统 网络投票起止时间：自2025 年 11 月 28 日 至2025 年 11 月 28 日 采用上海证券交易所网络投票系统，通过交易系 ...

Market Overview - The beverage and dairy sector experienced a decline of 0.54% on the trading day, with Junyao Health leading the drop [1] - The Shanghai Composite Index closed at 3986.9, down 0.73%, while the Shenzhen Component Index closed at 13532.13, down 1.16% [1] Stock Performance - Notable gainers in the beverage and dairy sector included: - Weiweijia (600300) with a closing price of 3.47, up 2.97% [1] - New Dairy (002946) at 17.01, up 2.47% [1] - Yili (600887) at 27.36, up 0.66% with a transaction volume of 621,200 shares and a transaction value of 1.702 billion [1] - Major decliners included: - Junyao Health (605388) at 7.13, down 3.52% [2] - Happy Home (300997) at 16.62, down 3.26% [2] - Beiyinmei (002570) at 6.28, down 2.64% with a transaction value of 305 million [2] Capital Flow - The beverage and dairy sector saw a net inflow of 193 million from institutional investors, while retail investors experienced a net outflow of 39.39 million [2] - The capital flow for key stocks showed: - Yili (600887) had a net inflow of 285 million from institutional investors, but a net outflow of 172 million from retail investors [3] - Chengde Lululemon (000848) had a net inflow of 42.62 million from institutional investors, with a net outflow of 5.37 million from retail investors [3] - Miao Ke Lan Duo (600882) had a net inflow of 20.36 million from institutional investors, but a significant net outflow of 29.61 million from retail investors [3]

证券代码：600887 证券简称：伊利股份 公告编号：临 2025-073 本公告中担保金额折算汇率以 2025 年 10 月 28 日的汇率中间价计 算：1 新西兰元对人民币 4.0992 元 一、担保情况概述 （一）担保的基本情况 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 | Westland 合计不超过 | Dairy | Company Limited 2.65 亿新西兰元（折合人民币 | | --- | --- | --- | --- | --- | | | | 约 10.86 | 亿元） | | | 担保对象 | 实际为其提供的担保余额 | 8.81 | 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 | 对外担保逾 ...

Group 1: Company Performance Highlights - Hu Silicon Industry (688126.SH) achieved a revenue of 1.697 billion CNY in H1 2025, a year-on-year increase of 8.16%[9] - Jingzhida (688627.SH) reported a revenue of 444 million CNY in H1 2025, up 22.68% year-on-year[12] - Kingsoft Office (688111.SH) generated a revenue of 2.657 billion CNY in H1 2025, reflecting a 10.12% increase year-on-year[22] Group 2: Market Trends and Projections - The average selling price of 200mm semiconductor wafers has slightly rebounded due to product mix changes, although the market for 200mm and below wafers remains weak[11] - The smart connected vehicle market for wireless communication modules is projected to grow from 2.3 billion CNY in 2020 to 5 billion CNY by 2024, with a CAGR of 21%[19] - The lithium battery equipment sector is expected to see a resonance of cycles and growth, potentially leading to a "Davis Double" effect due to domestic leadership in integration[36] Group 3: Investment Ratings and Forecasts - Hu Silicon Industry is projected to have EPS of 0.02, 0.09, and 0.13 CNY for 2025-2027, maintaining a "recommend" rating[11] - Jingzhida's EPS forecast for 2025-2027 is 1.92, 2.88, and 3.80 CNY, with a "recommend" rating[16] - Kingsoft Office's projected net profit for 2025-2027 is 1.768 billion, 2.150 billion, and 2.693 billion CNY, with a strong recommendation rating[24] Group 4: Risk Factors - Risks include lower-than-expected downstream demand, intensified market competition, and potential technological iteration risks across various sectors[17][35]

Market Overview - The beverage and dairy sector experienced a decline of 0.32% on October 29, with Hai Rong Technology leading the drop [1] - The Shanghai Composite Index closed at 4016.33, up 0.7%, while the Shenzhen Component Index closed at 13691.38, up 1.95% [1] Individual Stock Performance - Knight Dairy (920786) saw a closing price of 10.29, with an increase of 3.11% and a trading volume of 114,100 shares [1] - Bei Yin Mei (002570) closed at 6.45, up 1.74%, with a trading volume of 639,200 shares [1] - San Yuan Co. (600429) closed at 4.91, up 0.82%, with a trading volume of 164,200 shares [1] - Other notable performances include Happy Home (300997) at 17.18, up 0.41%, and West Pastoral (300106) at 11.13, up 0.18% [1] Capital Flow Analysis - The beverage and dairy sector saw a net outflow of 78.36 million yuan from institutional investors, while retail investors contributed a net inflow of 109 million yuan [2] - The overall capital flow indicates a mixed sentiment, with institutional investors withdrawing funds while retail investors increased their positions [2] Detailed Capital Flow for Selected Stocks - Bei Yin Mei (002570) had a net inflow of 25.29 million yuan from institutional investors, but a net outflow of 27.71 million yuan from retail investors [3] - San Yuan Co. (600429) experienced a net inflow of 18.93 million yuan from institutional investors, with a significant net outflow of 22.18 million yuan from retail investors [3] - Yi Li Co. (600887) had a minor net inflow of 5.09 million yuan from institutional investors, but faced a substantial net outflow of 43.44 million yuan from retail investors [3]

Core Viewpoint - The new national standard aims to regulate the elderly nutrition food market, addressing existing challenges and promoting growth in the silver economy as the aging population increases [1][3]. Group 1: Market Overview - The elderly nutrition product market is expected to experience significant growth due to the aging population and increasing health awareness among consumers [4]. - The market size for nutrition health foods in China is projected to reach 522.3 billion yuan in 2024, with functional nutrition foods and health foods accounting for 289.1 billion yuan and 233.1 billion yuan, respectively [4]. - The compound annual growth rate (CAGR) for functional nutrition foods is expected to be 8.5% over the next five years, surpassing the previous five-year rate of 6.6% [4]. Group 2: Current Challenges - The elderly nutrition food market is characterized by a lack of standards, leading to confusion and mistrust among consumers due to misleading marketing and exaggerated claims [4][6]. - Many products marketed for the elderly do not meet the specific physiological needs of older adults, resulting in a wide variance in ingredient quality and nutritional composition [2][6]. Group 3: New National Standard - The recently proposed national standard for elderly nutrition supplements defines these products as special dietary foods made from dairy, soy, or their derivatives, supplemented with vitamins and minerals [4][5]. - The draft standard includes strict requirements for raw materials, such as a minimum protein content of 20% of the total product weight and restrictions on the use of hydrogenated fats [5]. - The new standard aims to shift the industry from concept marketing to value supply, promoting standardization and quality improvement in the elderly nutrition food sector [6].

内蒙古呼和浩特市土默特左旗伊利现代智慧健康谷全球智能制造产业园液态奶全球智造标杆基地。 新华社记者 马金瑞摄 工业和信息化部、商务部、国家市场监管总局三部门近期联合发布《轻工业稳增长工作方案（2025—2026 年）》（以下简称《方案》），提出2025年—2026年轻工业在稳增长、促消费、惠民生中的作用更加凸显。 重点行业规模稳中有升，企业经营效益基本稳定。智能家居、老年和婴童用品、体育休闲时尚产品等新增长 点快速发展，引领消费能力不断提升。新增推广300项升级和创新产品，接续培育10个规模1000亿元以上特色 产业产区。 中国家用电器协会执行理事长姜风表示，当前，国际经济环境不稳定不确定因素增多，国内需求不振、预期 偏弱等问题仍然存在，行业稳增长任务艰巨。《方案》设置的增长目标，突出一个"稳"字，是应对复杂国际 形势的关键策略，同时行业也具备实现这一目标的底气与实力。 赛迪研究院消费品工业研究所副所长代晓霞认为，《方案》在目标设定上并没有片面追求数字的高速增长， 而是设定了一个更具韧性和内涵的质量型目标。追求的不仅仅是量的合理增长，更是质的有效提升。这强调 了轻工业在扩内需、促消费中的作用，明确产业发展质量 ...

Investment Rating - The investment rating for the industry is "Positive" and maintained [11] Core Insights - The clean label concept aims to simplify ingredient lists, reduce artificial additives, and enhance production transparency, allowing consumers to understand the natural attributes of food products, thereby building consumer trust [5][8] - The market for clean label products in China is expected to grow significantly, with a projected market size of approximately 96.5 billion yuan in 2024, accounting for about 3.31% of total food expenditure [5][9] - The clean label market is driven by short-term factors such as income levels and aging population, while long-term growth is influenced by education levels and policy advocacy [9][41] Summary by Sections Clean Label Market Overview - The clean label market is divided into raw materials and consumer products, with the raw materials market expected to reach approximately 406.9 billion yuan in 2024, and the consumer products market projected to be around 1.79 trillion yuan [28][35] - In 2024, the global clean label food consumption is expected to reach approximately 1.79 trillion yuan, with China's clean label food consumption at about 96.5 billion yuan, indicating significant growth potential [36][58] Factors Driving Clean Label Market Growth - Short-term growth is supported by rising income levels and an aging population, while long-term growth is driven by increased education levels and improved consumer awareness regarding food safety and health [41][52] - The clean label food expenditure ratio in China is projected to reach approximately 4.57% by 2028, with the overall food expenditure expected to reach 3.26 trillion yuan [63] Policy and Regulatory Developments - Recent policy changes in the seasoning and dairy sectors have introduced new clean label requirements, including stricter definitions of "zero additives" and regulations on the use of certain ingredients [70] - The regulatory landscape is shifting towards ensuring transparency and verifiability in food labeling, moving from a focus on safety to a focus on real, quantifiable standards [72]