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]

据证券之星公开数据整理，近期均瑶健康（605388）发布2025年中报。截至本报告期末，公司营业总收 入7.66亿元，同比上升1.38%，归母净利润746.61万元，同比下降78.52%。按单季度数据看，第二季度 营业总收入3.65亿元，同比上升1.36%，第二季度归母净利润-344.1万元，同比下降139.95%。本报告期 均瑶健康三费占比上升明显，财务费用、销售费用和管理费用总和占总营收同比增幅达42.08%。 本次财报公布的各项数据指标表现一般。其中，毛利率32.55%，同比增8.91%，净利率0.38%，同比减 91.96%，销售费用、管理费用、财务费用总计2.3亿元，三费占营收比30.07%，同比增42.08%，每股净 资产2.87元，同比减8.57%，每股经营性现金流-0.2元，同比减22.77%，每股收益0.01元，同比减83.33% | 项目 | 2024年中报 | 2025年中报 | 同比增幅 | | --- | --- | --- | --- | | 营业总收入(元) | 7.56亿 | 7.66亿 | 1.38% | | 归母净利润(元) | 3476.27万 | 746.61万 | - ...

Core Insights - The company reported a revenue of 766 million yuan for the first half of 2025, representing a year-on-year growth of 1.38%, while net profit declined due to traditional business downturns and increased expenses [1] - The company emphasizes its long-term strategy of leading in probiotics, supported by its full industry chain advantages, explosive overseas expansion, and high growth in e-commerce channels [1] Revenue and Profit Performance - The company's overseas revenue surged by 101.28% year-on-year, driven by significant increases in shipments to major clients in the U.S., with products exported to over 80 countries and regions [1] - Probiotics beverages and foods generated 430 million yuan in revenue, accounting for over 56% of total revenue, making it the largest business segment [1] Distribution and Sales Channels - The company expanded its distribution in top 100 convenience stores and regional chains, with products covering 2,700 Lawson stores in East China and 1,200 Xinjiayi convenience stores in Central China [2] - Online sales experienced explosive growth, with e-commerce channel sales increasing by 686.42% year-on-year, reaching a historical high in online revenue proportion [2] Production and R&D Developments - The company invested 19.82 million yuan in R&D, a year-on-year increase of 26.18%, and expanded its functional strain resource library from over 6,000 to over 50,000 strains [3] - The company plans to launch a new functional food based on the AKKBG-001 strain in the second half of 2025, alongside several new products that have received consumer and channel recognition [3] Future Outlook - The company aims to continue focusing on the probiotics sector, leveraging a "technology + brand + channel" strategy to achieve stable revenue growth and gradual profit recovery [3]

Core Insights - Junyao Health reported a revenue of 766 million yuan for the first half of 2025, marking a year-on-year increase of 1.38%, with overseas revenue surging by 101.28% and e-commerce sales skyrocketing by 686.42% [1][2] Revenue Performance - The company achieved resilient revenue growth despite challenges in traditional business, driven by strong performance in the probiotic sector and strategic adjustments [2] - Overseas markets emerged as a key growth driver, with significant increases in orders from major clients in the U.S., showcasing the company's competitive edge in the global probiotic supply chain [2] - Probiotic beverages and food generated 430 million yuan in revenue, becoming the core support for the company's "second growth curve" [2] Channel Expansion - Junyao Health actively expanded offline channels, focusing on top 100 convenience stores and well-known chain systems, with products entering various distribution channels across multiple regions [3] - E-commerce sales experienced explosive growth, contributing significantly to overall revenue through an integrated online and offline channel strategy [3] Revenue Structure Optimization - The company is transitioning from a single product category to a diversified health product matrix, enhancing its risk resilience and profit potential [4] - A clear and well-defined brand system has been established, with multiple brands targeting different segments of the probiotic market [4] Product Development - Junyao Health successfully entered high-growth niche markets, including oral health and weight management, with innovative products addressing specific consumer needs [5][6] - The company launched several new products across various categories, driven by technological innovation and a focus on scientific formulation [6][7][8] Future Outlook - With ongoing collaboration in research and development, global expansion, and digital supply chain upgrades, Junyao Health is positioned to maintain its leadership in the probiotic industry and deliver high-quality health products to consumers [8]

Group 1 - Junyao Health (605388.SH) released its semi-annual report for 2025 on August 26, 2025 [1] - As of August 25, 2025, six institutional investors disclosed holdings in Junyao Health A-shares, totaling 205 million shares, which accounts for 34.08% of the total share capital [1] - The institutional investors include Shanghai Junyao Group Co., Ltd., Ningbo Qiyuan Equity Investment Partnership, Ningbo Rongyin Equity Investment Partnership, Hubei Junyao Health Beverage Co., Ltd., CITIC Securities Co., Ltd. - Tianhong CSI Food and Beverage ETF, and Morgan Stanley & Co. International PLC [1] - The total institutional holding ratio increased by 0.24 percentage points compared to the previous quarter [1] Group 2 - One new public fund was disclosed in this period, specifically the Tianhong CSI Food and Beverage ETF [1]

Core Viewpoint - The company has released its 2025 semi-annual report, which includes significant financial data and operational updates, ensuring the accuracy and completeness of the information provided [1][5][20]. Company Overview - The company is identified as Hubei Junyao Health Beverage Co., Ltd., with the stock code 605388 [3]. - The board of directors and supervisory board confirm the authenticity and completeness of the report [1][3]. Financial Data - The semi-annual report includes key financial data, although specific figures are not detailed in the provided text [2]. - The company has not proposed any profit distribution or capital increase plans for this reporting period [2]. Board Meeting Details - The fifth board meeting was held on August 22, 2025, with all nine directors present, and the meeting complied with legal regulations [4][6]. - The board approved the semi-annual report and its summary during this meeting [5][6]. Supervisory Board Meeting - The fourth supervisory board meeting also took place on August 22, 2025, with all three supervisors present [14][16]. - The supervisory board confirmed the accuracy and completeness of the semi-annual report and its summary [15][16]. Major Operational Data - The company has announced its major operational data for the first half of 2025, which is yet to be detailed in the provided text [20]. - The operational data is intended to provide investors with timely insights into the company's performance [21]. Fundraising and Usage Report - The company raised a total of RMB 940.1 million through its initial public offering, with a net amount of RMB 883.56 million after expenses [21][22]. - As of June 30, 2025, the company had a balance of RMB 30.7 million in its fundraising accounts [25]. - The company has not used idle funds for cash management during the reporting period [28][29]. Compliance and Management - The company adheres to relevant laws and regulations regarding the management and use of raised funds, ensuring investor protection [23][31]. - The company has established a dedicated management system for the raised funds, including special accounts for different projects [23][24].

一、董事会会议召开情况 证券代码：605388 证券简称：均瑶健康 公告编号：2025-047 湖北均瑶大健康饮品股份有限公司 第五届董事会第十六次会议决议公告 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。 表决结果：同意：9 票，反对：0 票，弃权：0 票。 此议案经第三届审计委员会第十一次会议审议通过。 特此公告。 湖北均瑶大健康饮品股份有限公司董事会 湖北均瑶大健康饮品股份有限公司（以下简称"公司"）第五届董事会第 十六次会议于 2025 年 8 月 22 日下午在公司会议室以现场结合通讯会议方式召 开，本次会议通知于 2025 年 8 月 12 日以电子邮件形式送达公司全体董事。本次 会议由公司董事长王均豪先生主持。会议应出席董事 9 人，实际出席董事 9 人， 公司监事和高级管理人员列席了本次会议。本次会议的召开符合《公司法》和《公 司章程》等有关规定。 二、董事会会议审议情况 表决结果：同意：9 票，反对：0 票，弃权：0 票。 此议案经第三届审计委员会第十一次会议审议通过。 （二）审议通过《关于 2025 年半 ...

Group 1 - The fourth meeting of the supervisory board of Hubei Junyao Health Beverage Co., Ltd. was held on August 22, 2025, with all three supervisors present, complying with relevant laws and regulations [1][2] - The supervisory board approved the company's 2025 semi-annual report and summary, confirming that the report accurately reflects the company's financial status and operating results without any false statements or omissions [1][2] - The supervisory board also approved the special report on the storage and actual use of raised funds for the first half of 2025, stating that the management and use of funds comply with regulatory requirements [2][3] Group 2 - The voting results for both resolutions were unanimous, with 3 votes in favor and no votes against or abstentions [2][3]

Core Viewpoint - The report highlights a significant decline in the company's financial performance for the first half of 2025, with a notable drop in net profit and total profit, attributed to reduced market share and increased sales and marketing expenses despite growth in probiotic product lines [3][4]. Company Overview and Financial Indicators - Company Name: Hubei Juneyao Grand Healthy Drinks Co., Ltd [2] - Main Financial Data: - Revenue: 766.34 million RMB, a 1.38% increase from the previous year [2] - Total Profit: 2.52 million RMB, a 94.60% decrease [2] - Net Profit attributable to shareholders: 7.47 million RMB, a 78.52% decrease [2] - Net Assets: 1.73 billion RMB, a 2.68% decrease from the previous year [2] - Total Assets: 2.05 billion RMB, an 11.38% decrease [2] Industry and Main Business Situation - The company operates in the "Beverage and Refined Tea Manufacturing" industry, specifically in the "Manufacturing of Dairy and Plant Protein Beverages" sector [3]. - The health-conscious trend among consumers is driving the demand for functional and health-oriented products, with the company positioned as a pioneer in the ambient yogurt market [3][4]. Business Development and Product Strategy - The company aims to become a global leader in probiotics, focusing on high-quality health food products and the development of probiotic beverages [4][5]. - The company has integrated its probiotic product development, production, and sales into a cohesive supply chain, enhancing its competitive edge [5][6]. Sales and Distribution Model - The sales model primarily relies on a distribution approach, targeting second and third-tier cities and leveraging a network of distributors to expand market reach [9][10]. - The company has also adopted a direct sales model for its probiotic raw materials, allowing for customized solutions based on client needs [10]. Innovation and R&D - The company has invested in R&D to develop unique probiotic strains and health food products, establishing a strong technological barrier in the industry [5][11]. - The integration of advanced technologies and data analytics is being utilized to optimize supply chain operations and enhance market responsiveness [11].

| 证券代码：605388 证券简称：均瑶健康 公告编号：2025-050 | | --- | | 湖北均瑶大健康饮品股份有限公司 | | 关于 2025 年半年度募集资金存放与实际使用情况的 | | 专项报告 | | 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《上海证券交易所股票上市规则》、《上市公司募集资金监管规则》和 | | 《上海证券交易所上市公司自律监管指引第 1 号——规范运作》等有关规定，湖 | | 北均瑶大健康饮品股份有限公司（以下简称"公司"或"均瑶健康"）董事会对 | | 一、募集资金基本情况 | | （一）实际募集资金金额和资金到账时间 | | 经中国证券监督管理委员会《关于核准湖北均瑶大健康饮品股份有限公司首 | | 次公开发行股票的批复》（证监许可[2020]1568 号）核准，公司向社会公众投 | | 资者发行人民币普通股（A 股）70,000,000.00 股，发行价格为每股 13.43 元， | | 募集资金总额 940,100,000.00 元，扣除各项发行费用后，募 ...