证券代码：603156 证券简称：养元饮品 公告编号：2025-023 河北养元智汇饮品股份有限公司 2025年半年度权益分派实施公告 每股分配比例 A 股每股现金红利0.50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 | 2025/9/12 | － | 2025/9/15 | 2025/9/15 | 差异化分红送转： 否 一、 通过分配方案的股东会届次和日期 2025 年 5 月 16 日，河北养元智汇饮品股份有限公司（以下简称"公司"）2024 年年度股东大会审议通过了《关于提请股东大会授权董事会制定 2025 年中期分红 方案的议案》，授权董事会在符合监管要求和中期分红条件、金额上限限制的前提 下，制定并实施公司 2025 年度中期分红方案。2025 年 8 月 22 日，公司第七届董 事会第二次会议审议通过了《关于公司 2025 年半年度利润分配方案的议案》。 二、 分配方案 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 ...

Industry Overview - The beverage production in China is projected to reach 17.97 million tons by July 2025, reflecting a year-on-year growth of 4.7% [1] - From January to July 2025, the cumulative beverage production in China is expected to be 111.01 million tons, with a cumulative growth of 3% [1] Companies Mentioned - Listed companies in the beverage sector include Yangyuan Beverage (603156), Chengde Lolo (000848), Dongpeng Beverage (605499), and Junyao Health (605388) [1] Research Report - The insights are derived from the "2025-2031 China Beverage Industry Market Operation Pattern and Future Prospects Analysis Report" published by Zhiyan Consulting [1][2]

证券日报网讯 9月2日晚间，养元饮品发布公告称，公司计划于2025年9月10日（星期三）9：00-10：00 举行2025年半年度业绩说明会。 （文章来源：证券日报） ...

Core Viewpoint - The company, Hebei Yangyuan Zhihui Beverage Co., Ltd., is set to hold a half-year performance briefing on September 10, 2025, to discuss its operational results and financial status for the first half of 2025, addressing investor inquiries [1][3]. Group 1: Meeting Details - The meeting is scheduled for September 10, 2025, from 9:00 to 10:00 AM [1][3]. - It will take place at the Shanghai Stock Exchange Roadshow Center, accessible online [1][3]. - The format of the meeting will be an interactive online session [1][3]. Group 2: Participation Information - Investors can submit questions from September 3 to September 9, 2025, before 4:00 PM, either through the Roadshow Center website or via the company's email [1][4]. - The company will address commonly asked questions during the briefing [1][4]. Group 3: Key Personnel - Key participants in the meeting will include Chairman Yao Kuizhang, General Manager Fan Zhaolin, and other board members [3][5]. - The company has provided contact information for inquiries, including a phone number and email address [5][6].

证券代码：603156 证券简称：养元饮品 公告编号：2025-022 河北养元智汇饮品股份有限公司 关于召开 2025 年半年度业绩说明会的公告 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。 重要内容提示： 会议召开时间：2025 年 9 月 10 日（星期三）9:00-10:00 会议召开地点：上海证券交易所上证路演中心（网址：https://r oadshow.sseinfo.com/） 会议召开方式：上证路演中心网络互动 二、说明会召开的时间、地点 （一）会议召开时间：2025 年 9 月 10 日（星期三）9:00-10:00 （二）会议召开地点：上证路演中心 （三）会议召开方式：上证路演中心网络互动 投资者可于 2025 年 9 月 3 日（星期三）至 9 月 9 日（星期二）16: 00 前登录上证路演中心网站首页点击"提问预征集"栏目或通过公 司邮箱 yangyuanzhengquanbu@hbyangyuan.com 进行提问。公司将在 说明会上对投资者普遍关注的问题进行回答。 河北养元智汇饮品股份有限公司 ...

Market Overview - The beverage and dairy sector increased by 0.35% on September 1, with Yangyuan Beverage leading the gains [1] - The Shanghai Composite Index closed at 3875.53, up 0.46%, while the Shenzhen Component Index closed at 12828.95, up 1.05% [1] Top Gainers in Beverage and Dairy Sector - Chi Yuan Beverage (603156) closed at 21.88, up 2.43% with a trading volume of 55,700 shares and a turnover of 120 million yuan [1] - Huanlejia (300997) closed at 17.50, up 2.40% with a trading volume of 103,000 shares and a turnover of 178 million yuan [1] - Quanyangquan (681009) closed at 7.54, up 2.31% with a trading volume of 198,300 shares and a turnover of 148 million yuan [1] - Panda Dairy (300898) closed at 29.11, up 2.10% with a trading volume of 74,000 shares and a turnover of 215 million yuan [1] - Dongpeng Beverage (605499) closed at 314.94, up 1.94% with a trading volume of 20,200 shares and a turnover of 633 million yuan [1] Top Losers in Beverage and Dairy Sector - New Dairy (002946) closed at 19.33, down 2.23% with a trading volume of 132,600 shares and a turnover of 256 million yuan [2] - Pinwu Food (300892) closed at 37.41, down 1.50% with a trading volume of 92,600 shares and a turnover of 343 million yuan [2] - Knight Dairy (832786) closed at 10.92, down 1.18% with a trading volume of 105,000 shares and a turnover of 114 million yuan [2] - Bright Dairy (600597) closed at 8.69, down 1.14% with a trading volume of 176,400 shares and a turnover of 153 million yuan [2] - Yili Group (600887) closed at 28.27, down 1.05% with a trading volume of 1,054,000 shares and a turnover of 3 billion yuan [2] Capital Flow Analysis - The beverage and dairy sector experienced a net outflow of 655 million yuan from institutional investors, while retail investors saw a net inflow of 732 million yuan [2] - The capital flow for key stocks shows varying trends, with some stocks experiencing significant net inflows from retail investors despite overall sector outflows [3]

Core Viewpoint - Yangyuan Beverage demonstrates strong resilience and operational capability amidst structural adjustments in the consumer market, with key indicators reflecting substantial optimization in profitability quality, leading to a positive long-term outlook for sustainable development [1][3]. Financial Performance - For the first half of the year, Yangyuan Beverage reported revenue of 2.465 billion, a decrease of 16.19% compared to the previous year, and a net profit of 743.88 million, down 27.76% year-on-year [2]. - The operating cash flow net amount increased significantly by 1358.23% to 376.73 million, with cash reserves rising by 58.96% to 1.459 billion [4]. Market Position and Industry Trends - Yangyuan Beverage's core brand "Six Walnuts" holds approximately 80% market share in the walnut milk segment, and the company is recognized as a leader in the plant-based protein beverage sector [5]. - The plant-based protein beverage market in China is projected to reach 68 billion by 2024 and exceed 120 billion by 2030, with a compound annual growth rate of 12.5% [3]. Product Innovation and Development - The company is actively innovating with new product lines, including red date and oat walnut milk, to cater to health-conscious consumers and diversify its offerings [6][7]. - Yangyuan Beverage has established six major technology research platforms and national laboratories, investing over several hundred million in technological advancements to enhance product quality and market competitiveness [8]. Sales and Distribution Strategy - The company has adopted a dual-channel strategy, focusing on deepening traditional channels while exploring new channels like live e-commerce and community group buying, resulting in a 8.81% increase in direct sales revenue [8][9]. - The number of distributors increased to 2,727, with revenue contribution from distribution channels reaching 2.227 billion [8]. Strategic Outlook - Yangyuan Beverage's strategy emphasizes maintaining product quality and channel depth while embracing innovation and flexibility in new channels, reflecting a shift from aggressive advertising to a more stable growth model [9].

Market Overview - The beverage and dairy sector increased by 2.43% on August 29, with New Dairy leading the gains [1] - The Shanghai Composite Index closed at 3857.93, up 0.37%, while the Shenzhen Component Index closed at 12696.15, up 0.99% [1] Top Performers - New Dairy (002946) closed at 19.77, up 6.75% with a trading volume of 208,300 shares and a transaction value of 409 million yuan [1] - Miaokelan Duo (600882) closed at 27.71, up 5.36% with a trading volume of 134,000 shares and a transaction value of 366 million yuan [1] - Dongpeng Beverage (605499) closed at 308.94, up 3.26% with a trading volume of 25,900 shares and a transaction value of 799 million yuan [1] Other Notable Stocks - Yili Group (600887) closed at 28.57, up 3.18% with a trading volume of 2,112,900 shares and a transaction value of 611.5 million yuan [1] - Junyao Health (605388) closed at 8.07, up 1.77% with a trading volume of 168,900 shares and a transaction value of 13.6 million yuan [1] Market Capital Flow - The beverage and dairy sector experienced a net outflow of 475 million yuan from institutional investors, while retail investors saw a net inflow of 435 million yuan [2] - The overall market showed mixed capital flows, with some stocks experiencing significant retail interest despite institutional selling [2][3] Individual Stock Capital Flow - New Dairy had a net inflow of 11.72 million yuan from institutional investors, but a net outflow of 17.51 million yuan from retail investors [3] - Miaokelan Duo saw a net inflow of 7.60 million yuan from institutional investors, but a net outflow of 20.52 million yuan from speculative funds [3] - Yili Group had a net outflow of 2.54 million yuan from institutional investors, while retail investors contributed a net inflow of 4.02 million yuan [3]

Core Insights - Yangyuan Beverage reported a significant increase in revenue and net profit for the first half of 2025, with operating income reaching 2.465 billion yuan and net profit at 744 million yuan [1] - The company achieved a remarkable 1358.23% year-on-year growth in net cash flow from operating activities, totaling 377 million yuan, indicating improved operational quality and risk resilience [3] - The cash balance at the end of the reporting period was 1.459 billion yuan, reflecting a 58.96% increase compared to the end of the previous year [1] Company Performance - Yangyuan Beverage's main product line focuses on plant-based protein drinks, primarily using walnut as a raw material, with the "Six Walnuts" brand leading in revenue [3] - Despite a decline in walnut milk product sales impacting overall revenue, the company is innovating its product offerings to cater to diverse consumer demographics and scenarios [3] - The product portfolio includes various series targeting health-conscious consumers, such as low-sugar and probiotic-enhanced options [3] Channel Strategy - The company is facing pressure in traditional distribution channels, with revenue from these channels decreasing by 18.52% to 2.227 billion yuan [4] - Conversely, direct sales channels have shown significant growth, with revenue increasing by 8.81% to 210 million yuan, now accounting for 8.6% of total revenue [4] - Yangyuan Beverage is implementing a differentiated channel strategy to strengthen traditional channels while exploring e-commerce and emerging retail formats [3][4] Dividend Policy - Yangyuan Beverage continues its tradition of dividend distribution, proposing a cash dividend of 5.00 yuan per 10 shares, amounting to a total of 630 million yuan, which represents approximately 80% of the net profit for the period [4] - This stable dividend strategy is aimed at enhancing shareholder confidence and demonstrating the company's ability to provide consistent returns [4]

Market Overview - The beverage and dairy sector experienced a decline of 1.4% on August 27, with Zhuangyuan Pasture leading the drop [1] - The Shanghai Composite Index closed at 3800.35, down 1.76%, while the Shenzhen Component Index closed at 12295.07, down 1.43% [1] Stock Performance - Notable gainers in the beverage and dairy sector included: - Aluminum Wine Foods: Closed at 40.47, up 6.56% with a trading volume of 139,100 shares and a turnover of 544 million yuan [1] - Yiming Foods: Closed at 24.43, up 5.57% with a trading volume of 292,700 shares and a turnover of 694 million yuan [1] - Liziyuan: Closed at 14.18, up 3.28% with a trading volume of 322,500 shares and a turnover of 448 million yuan [1] - Major decliners included: - Zhuangyuan Pasture: Closed at 9.83, down 3.91% with a trading volume of 98,500 shares and a turnover of 99.2 million yuan [2] - Chengde Lulule: Closed at 8.69, down 3.87% with a trading volume of 452,000 shares and a turnover of 400 million yuan [2] - Xibu Muye: Closed at 11.86, down 3.10% with a trading volume of 198,400 shares and a turnover of 240 million yuan [2] Capital Flow - The beverage and dairy sector saw a net outflow of 408 million yuan from institutional investors, while retail investors contributed a net inflow of 459 million yuan [2] - Specific stock capital flows included: - Liziyuan: Net outflow of 24.91 million yuan from institutional investors [3] - Yiming Foods: Net inflow of 18.32 million yuan from institutional investors [3] - Zhuangyuan Pasture: Net outflow of 19.94 million yuan from retail investors [3]