Core Viewpoint - Junyao Health announced a change in the quality review personnel for its 2025 financial report and internal control audit, appointing Sheng Qing to replace Ma Jianying due to internal project adjustments at Beijing Dehao [1] Group 1 - Junyao Health has appointed Beijing Dehao as the auditing firm for its 2025 financial report and internal control audit [1] - The original quality review personnel, Ma Jianying, has been replaced by Sheng Qing for the audit project [1] - The change in personnel is attributed to internal project arrangement adjustments at Beijing Dehao [1]

湖北均瑶大健康饮品股份有限公司 关于审计机构变更项目质量复核人员的公告 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。 湖北均瑶大健康饮品股份有限公司（以下简称"公司"）于 2025 年 10 月 10 日召开第五届董事会第十七次会议，审议通过了《关于聘任公司 2025 年度审计 机构的议案》，同意聘任北京德皓国际会计师事务所（特殊普通合伙）（以下简 称"北京德皓"）担任本公司及下属子公司 2025 年度的财务审计机构和内部控 制审计机构，聘用期限为 1 年。该议案已经公司 2025 年第三次临时股东会审议 通过。具体内容详见公司于 2025 年 10 月 14 日于上海证券交易所网站 （www.sse.com.cn）披露的《湖北均瑶大健康饮品股份有限公司关于聘任公司 2025 年度审计机构的公告》（公告编号：2025-056）。 公司近日收到北京德皓《关于变更湖北均瑶大健康饮品股份有限公司 2025 年度项目质量复核人员的函》，现就具体情况公告如下： 证券代码：605388 证券简称：均瑶健康 公告编号：2026-004 1 ...

Industry Overview - The probiotic industry is expected to maintain a compound annual growth rate (CAGR) of 14.2% from 2023 to 2025, driven primarily by price increases, with an average price CAGR of 11.3% and a sales CAGR of 2.4% [1][2] - The market is witnessing significant growth in high-functionality and composite products, which are expected to drive demand [2] Market Dynamics - Sales of AKK probiotic products on platforms like Taobao, Tmall, JD, and Douyin are projected to increase from 13,700 units in January 2025 to 47,200 units by October 2025, indicating a potential surge in market opportunities as more entrants join the sector [3] Company Developments - Xianle Health's proprietary probiotic AKK ONE received GRAS certification in May 2025, enhancing its positioning in high-growth markets such as weight management and metabolic health. AKK ONE has a protein content 50% higher than conventional AKK strains and increases beneficial bacteria by approximately 1.5 times [4] - Junyao Health's subsidiary, Runying Bio, has developed two high-quality AKK strains, AKK BG-001 and AKK WST01, with a focus on cost optimization and efficiency improvements. The production process has seen a 50% reduction in fermentation time and a 70% increase in cell count [5] - Beijia Clean invested 210 million yuan in Shan'enkang, acquiring a 52% stake. Shan'enkang has established a large AKK strain library and has developed AKK PROBIO strains with high survival rates in gastrointestinal conditions [6] Investment Recommendations - Companies to watch include Xianle Health (300791.SZ), Junyao Health (605388.SH), and Beijia Clean (603059.SH) due to their innovative products and market positioning [7]

上市企业：养元饮品（603156）,承德露露（000848）,东鹏饮料（605499）,均瑶健康（605388） 2020-2025年中国饮料产量统计图 数据来源：国家统计局，智研咨询整理 知前沿，问智研。智研咨询是中国一流产业咨询机构，十数年持续深耕产业研究领域，提供深度产业研 究报告、商业计划书、可行性研究报告及定制服务等一站式产业咨询服务。专业的角度、品质化的服 务、敏锐的市场洞察力，专注于提供完善的产业解决方案，为您的投资决策赋能。 相关报告：智研咨询发布的《2026-2032年中国饮料行业市场运营格局及未来前景分析报告》 根据国家统计局数据显示：2025年12月中国饮料产量为1342万吨，同比增长1.1%；2025年中国饮料累 计产量为17925.3万吨，累计增长3%。 ...

证券日报网讯 1月26日，均瑶健康在互动平台回答投资者提问时表示，公司2025年度业绩受多重因素影 响出现亏损，公司高度重视经营改善，持续聚焦益生菌核心技术研发与产业链整合，并通过渠道优化与 新品开发拓展市场。目前公司正积极推进战略转型，强化成本管控与运营效率，争取以更好的业绩来回 报投资者。 （文章来源：证券日报） ...

Group 1 - Aijian Group (600643.SH) is expected to report a loss in 2025, with significant financial pressures indicated by various announcements [3][4][34] - The company has pledged a substantial portion of its assets as guarantees for subsidiaries, with the guarantee amount reaching 98 billion yuan, accounting for 83% of its net assets [12][43] - The parent company, Junyao Group, is also facing challenges, with high levels of share pledges across its listed companies, including Aijian Group, Jixiang Airlines, Junyao Health, and Dazhongfang [19][50] Group 2 - Aijian Group's net profit has been declining significantly since 2021, with projected losses of 5.31 billion yuan in 2024 and a further expected loss in 2025 [6][37] - The company has changed its auditing firm after 33 years, moving from a top-tier firm to a mid-tier one, raising concerns about audit quality and continuity [8][40] - As of the end of the third quarter of 2025, Aijian Group's total liabilities amounted to 11.986 billion yuan, with short-term loans of 2.651 billion yuan [8][39] Group 3 - Junyao Group has frequently pledged shares of its listed companies to secure debts, with a total pledged value of 187.1 billion yuan across its subsidiaries [51][54] - Jixiang Airlines is facing operational pressures, with a projected decline in revenue and net profit for the first three quarters of 2025 [23][54] - Dazhongfang has seen a continuous decline in net profit over three years, with a projected net profit of 55.7 million yuan for the first three quarters of 2025 [24][54]

Core Viewpoint - Junyao Health expects a net loss of 144 million to 216 million yuan for the year 2025, indicating significant financial challenges ahead [1] Group 1: Performance Outlook - The company anticipates a net loss of 144 million to 216 million yuan for 2025 [1] - The decline in market share for dairy beverages and weak downstream customer demand have contributed to reduced revenue from traditional ambient yogurt business compared to the same period last year [2] Group 2: Cost and Investment Factors - The company has increased upfront sales and marketing expenses significantly compared to the previous year due to efforts to optimize revenue structure and expand e-commerce, new retail, and chain KA channels [2] - Increased R&D investment has led to a rise in research expenses during the reporting period [2] Group 3: Asset Impairment and Provisions - The company plans to recognize asset impairment provisions for at-risk inventory, expected to impact profits by 30 million to 50 million yuan, with final amounts to be determined by external assessment [2] - Credit risk on certain receivables has increased, prompting the company to consider credit impairment provisions, estimated to affect profits by 50 million to 90 million yuan, with final amounts subject to external evaluation [2] - The company intends to recognize goodwill impairment provisions for certain subsidiaries, expected to impact profits by 15 million to 45 million yuan, with final amounts to be assessed by external evaluators [2]

Core Viewpoint - Junyao Health (605388) is expected to report a net loss of between 144 million to 216 million yuan for 2025, significantly increasing from a net loss of 29 million yuan in the previous year, indicating a deterioration in financial performance [1] Financial Performance - The total revenue for Junyao Health for the quarter ending December 31, 2024, was 1.458 billion yuan, down from 1.634 billion yuan in the same quarter the previous year [2] - The gross profit for the same period was 441.9 million yuan, compared to 399.2 million yuan a year earlier [2] - The net profit attributable to shareholders was a loss of 29.12 million yuan, contrasting with a profit of 57.58 million yuan in the previous year [2] Business Challenges - The company attributes its projected losses to a shrinking market share in the dairy beverage sector, driven by weak consumer demand [3] - Increased sales and marketing expenses due to efforts to optimize revenue structure and expand into e-commerce and new retail channels have negatively impacted profitability [3] - The company plans to recognize asset impairment provisions for inventory, credit, and goodwill, which are expected to affect profits by 30 million to 50 million yuan, 50 million to 90 million yuan, and 15 million to 45 million yuan, respectively [3] Management Actions - A group of five executives at Junyao Health announced plans to reduce their shareholdings between February 6 and May 5, citing personal financial needs [4] - The largest planned reduction comes from executive Xiang Weibing, who intends to sell up to 69,000 shares, potentially cashing out around 500,000 yuan based on the current share price [4] - This is not the first instance of share reduction by executives, as eight executives have sold shares over the past two years, raising concerns about the company's long-term value [5][6]

Core Viewpoint - Junyao Health is expected to report a net loss of approximately 144 million to 216 million yuan for the year 2025, representing a significant decrease of about 115 million to 187 million yuan compared to the previous year, with a year-on-year decline of 395.14% to 642.71% [1] Group 1: Financial Performance - The anticipated net loss for 2025 is between 144 million and 216 million yuan [1] - This represents a decrease of approximately 115 million to 187 million yuan compared to the previous year [1] - The year-on-year decline is projected to be between 395.14% and 642.71% [1] Group 2: Market Conditions - The decline in performance is primarily attributed to a challenging consumer environment, which has led to a reduction in market share for dairy beverages [1] - Downstream customer demand has been weak, resulting in decreased revenue from the company's traditional ambient yogurt business compared to the same period last year [1] Group 3: Business Strategy - The company is focusing on optimizing its revenue structure and actively expanding e-commerce, new retail channels, and chain KA channels [1] - This strategic shift has resulted in a significant increase in upfront sales and marketing expenses compared to the previous year [1] - Additionally, the company has increased its investment in research and development, leading to a corresponding rise in R&D expenses [1]

Group 1 - The core point of the article is that Junyao Health (605388.SH) announced a plan for key executives to reduce their holdings of shares due to personal financial needs, which may impact the company's stock performance [2][3]. - The total number of shares to be reduced by the executives is up to 474,900 shares, representing approximately 0.079% of the company's total shares [3]. - This is not the first instance of collective share reduction by Junyao Health's executives, as a similar event occurred in June 2025 [3]. Group 2 - For the first three quarters of 2025, Junyao Health reported revenue of 1.095 billion yuan, a year-on-year decline of 6.95%, and a net profit attributable to shareholders of -2.369 million yuan, a year-on-year decline of 104.79% [3]. - Following the announcement of the executives' share reduction, the stock price of Junyao Health experienced a two-day decline of approximately 4%, with a total market value of around 4.4 billion yuan [4]. - Since the peak in 2023, Junyao Health's stock price has halved, indicating a significant downturn in its market performance [3].