Group 1 - The board of directors of Yiming Food (605179.SH) will welcome a new young member, Zhu Feng, who is nominated as a non-independent director candidate at the upcoming board meeting on November 24, 2025 [2] - The company plans to expand its board size from 7 to 9 members, increasing the number of non-independent directors from 4 to 6, with one position filled by Zhu Feng and another by an employee representative [2] - Zhu Feng, born in 1997, has nearly five years of experience within Yiming Food, having held various positions including e-commerce operations and general manager of the children's food division [2] Group 2 - Zhu Feng is the daughter of the actual controller and chairman Zhu Like, and the granddaughter of the founders, indicating a continuation of family involvement in the company's leadership [3] - Yiming Food reported a steady performance in the first three quarters of 2025, achieving revenue of 2.146 billion yuan, a year-on-year increase of 4.26%, and a net profit attributable to shareholders of 46.41 million yuan, up 25.74% year-on-year [3] - The entry of the second generation into the decision-making layer raises market interest in Yiming Food's future development strategy and the evolution of the family business [3]

Summary of Yiming Foods Conference Call Company Overview - **Company**: Yiming Foods - **Reporting Period**: First three quarters of 2025 - **Key Financials**: - Net profit attributable to shareholders increased by 25.74% year-on-year - Deducting non-recurring gains, net profit grew by 16.33% [2][3] Industry Insights - **Sales Channel Performance**: - Milk bar channel accounted for the highest sales proportion, but direct store revenue decreased by 11.83% year-on-year - Direct sales and distribution channels grew by 19.12% and 27.87% respectively - Online sales channel surged by 48.46%, indicating a significant shift towards digital sales [2][3] Key Points - **Franchise Store Performance**: - Revenue growth in franchise stores driven by increased foot traffic, particularly during lunch and afternoon tea times - New product categories like rice products and sandwiches are key growth drivers, with a sustainable growth trend expected [2][5] - **Profit Margins**: - Health light food series has a gross margin of approximately 60%, significantly higher than dairy products (20%-30%) - Overall net profit margin for all store types is around 4% to 5% [2][10][11] - **Direct Sales Growth**: - Rapid growth in direct sales, with key clients including Hema and Guming - Hema's sales increased significantly from 10 million in 2024 to over 80 million in 2025 - Guming's performance declined due to product adjustments, while other clients showed over 40% growth [2][12][14] - **Product Pricing Strategy**: - New product launches may lead to price adjustments, with potential increases expected in the first half of 2026 to meet market demand [2][8] - **Store Expansion Plans**: - Anticipated opening of 600 to 800 new franchise stores in 2026 to enhance market coverage - Franchise store count increased in Q3 2025, with expectations for continued growth in Q4 [2][9] Additional Insights - **Cost Structure**: - Company expects a 1.5% decrease in overall raw material costs in 2026 compared to 2025 - Significant price drops observed in commodities like eggs, while some raw materials saw price increases [2][20][21] - **Raw Material Sourcing**: - Own milk source accounts for about 20%, with the remainder sourced through cooperatives - Future sourcing strategy aims to maintain a dynamic balance between self-sourced and cooperative-sourced milk [2][22][23] - **Distribution Channel Adjustments**: - Stable performance in distribution channels, with some clients reclassified, impacting reported growth rates - If certain large clients were included in direct sales, the growth would be reported as 32% instead of 19% [2][4][24] This summary encapsulates the key insights and financial performance of Yiming Foods as discussed in the conference call, highlighting the company's growth strategies, market dynamics, and operational efficiencies.

Core Points - The company will hold an investor briefing on December 8, 2025, from 09:00 to 10:00 to discuss its Q3 2025 performance and financial results [2][3][4] - Investors can submit questions from December 1 to December 5, 2025, before 16:00 through the Shanghai Stock Exchange Roadshow Center website or via the company's email [2][4][6] - The briefing will be conducted in an interactive online format, allowing for real-time communication between the company and investors [3][5] Meeting Details - The meeting will take place at the Shanghai Stock Exchange Roadshow Center [2][5] - Key personnel attending include Chairman and General Manager Zhu Like, Board Secretary Lin Yilei, and Chief Financial Officer Deng Xiujun [4] - Investors can access the meeting details and main content afterward through the Shanghai Stock Exchange Roadshow Center [6]

浙江一鸣食品股份有限公司 2025 年第二次临时股东会 会议资料 二零二五年十二月十日 目 录 | 浙江一鸣食品股份有限公司 | 2025 年第二次临时股东会会议须知 1 | | --- | --- | | 浙江一鸣食品股份有限公司 | 2025 年第二次临时股东会议程 3 | | 议案 | 1：关于修订《公司章程》并办理工商变更登记的议案 5 | | 议案 | 2：关于修订《董事会议事规则》的议案 7 | | 议案 | 3：关于增选第七届董事会非独立董事的议案 8 | 浙江一鸣食品股份有限公司 2025 年第二次临时股东会会议须知 为维护全体股东的合法权益，确保股东会顺利进行，公司根据《公司法》、 《上市公司股东会规则》以及《浙江一鸣食品股份有限公司章程》（以下简称《公 司章程》）的规定，特制订本须知： 一、董事会以维护全体股东的合法权益、维持会议正常秩序和提高议事效率 为原则，认真履行《公司章程》规定的职责，做好召集、召开股东会的各项工作。 二、股东参加股东会依法享有发言权、表决权等权利。股东参加股东会，应 认真履行其法定权利和义务，不得侵犯其它股东的权益，不得扰乱会议的正常秩 序。 三、股东会由董事长主 ...

证券代码：605179 证券简称：一鸣食品 公告编号：2025-037 浙江一鸣食品股份有限公司 关于召开 2025 年第三季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。 二、 说明会召开的时间、地点 （一）会议召开时间：2025年12月08日（星期一）09:00-10:00 重要内容提示： https://roadshow.sseinfo.com/） 会议召开方式：上证路演中心网络互动 投资者可于 2025 年 12 月 01 日 （星期一） 至 12 月 05 日 （星 期五）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 inmfood@yi-ming.cn 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。 浙江一鸣食品股份有限公司（以下简称"公司"）已于 2025 年 10 月 31 日发布公司 2025 年第三季度报告，为便于广大投资者更全 面深入地了解公司 2025 年第三季度经营成果、财务状况，公司计划 于 2025 年 12 月 08 日 （星期一 ...

Core Points - The 2025 Zhejiang Agricultural Expo is held from November 21 to November 25, showcasing the achievements of rural revitalization in Zhejiang Province with a theme focused on local specialties and shared prosperity [1] Group 1: Agricultural Products and Innovations - The expo features over 4,000 types of specialty agricultural products from 3,500 participating companies, highlighting local brands from various cities in Zhejiang, such as Wenzhou's "Red Beauty" citrus and Jinhua's cured meat [2] - The "Qu Chenpi" brand, developed through a collaboration between Quzhou Yuxiangyuan Technology Co., Ltd. and Zhejiang Chinese Medical University, showcases innovative products like fermented ginseng Chenpi wine, enhancing the value of local specialties [2] - Leading agricultural companies like Zunming Food Co., Ltd. and Yiming Food Co., Ltd. present diverse product lines, demonstrating the transformation of soybeans into various food items and emphasizing quality control across their supply chains [3] Group 2: Smart Agriculture and Technology - The expo highlights advancements in smart agriculture, including a planting robot that automates the planting process for valuable medicinal herbs, improving efficiency and reducing costs [4] - Zhejiang Oracle Super Code Technology Co., Ltd. introduces intelligent scales for tea harvesting, integrating digital management systems to enhance operational efficiency and protect farmers' rights [5] - Experts indicate that China's smart agriculture is transitioning from technology validation to large-scale application, with a need for government support and industry collaboration to develop universal solutions [5]

Core Viewpoint - Yiming Foods (605179) is collaborating with Zhejiang University on a dairy and cattle research project, which is currently in the ongoing R&D and validation phase [1] Group 1 - The project has established a quantifiable heat stress index system to assess individual cow heat tolerance levels [1] - This research direction is expected to positively impact milk quality improvement and supply chain stability [1] - The initiative may become a key competitive advantage for the company at the source level in the future [1]

Core Viewpoint - Yiming Foods (605179) is leveraging its "Smart Yiming" system to achieve production and sales coordination, leading to industry-leading automation and equipment integration in dairy beverage production [1] Financial Performance - The company has positively impacted production costs and related expenses through quality cost control, technology cost reduction, and efficiency improvements [1] - Continuous advancement in digital capabilities is planned to support the company's long-term development [1]

Core Viewpoint - Yiming Food (605179.SH) is collaborating with Zhejiang University on a dairy and cattle research project, which is currently in the ongoing research and validation phase [1] Group 1: Research Progress - The project has established a quantifiable heat stress index system to assess the heat tolerance levels of individual cows [1] - The research aims to enhance milk source quality and supply chain stability [1] Group 2: Strategic Importance - This research direction is expected to play a positive role in improving core competitive advantages at the source level for the company in the future [1]

Group 1 - The core point of the article is that Yiming Food (SH 605179) held a board meeting on November 24, 2025, to review the proposal for amending the "Board Meeting Rules" [1] - For the year 2024, Yiming Food's revenue composition is 88.72% from food production and sales, and 11.28% from other businesses [1] - As of the report, Yiming Food has a market capitalization of 8.3 billion yuan [1] Group 2 - Dapeng Industrial's strategic placement has significantly benefited its insiders, with a subscription price of 9 yuan and a first-day listing price of 118 yuan, resulting in a paper profit of 24.92 million yuan for the controlling shareholder and his brother [1]