证券代码：605388 证券简称：均瑶健康 公告编号：2025-061 湖北均瑶大健康饮品股份有限公司 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。 重要内容提示： 投资者可于 2025 年 11 月 27 日（星期四）至 12 月 03 日（星期三）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 juneyaodairy@juneyao.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。 湖北均瑶大健康饮品股份有限公司（以下简称"公司"）已于 2025 年 10 月 30 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 04 日上 午 10:00-11:00 举行 2025 年第三季度业绩说明会，就投资者关心的问题进行交流， 在信息披露允许的范围内就投资者普遍关注的问题进行回答。 一、说明会类型 1 本次投资者说明会以网络 ...

Core Points - Junyao Health's stock price increased by 2.01% on November 10, reaching 7.62 CNY per share with a market capitalization of 4.576 billion CNY [1] - The company has seen a year-to-date stock price increase of 22.67% and has appeared on the stock market's "Dragon and Tiger List" 11 times this year [2] - As of September 30, 2025, Junyao Health reported a revenue of 1.095 billion CNY, a year-on-year decrease of 6.95%, and a net profit loss of 2.3688 million CNY, a decrease of 104.79% [2] Financial Performance - The company has a total market capitalization of 4.576 billion CNY and a trading volume of 33.3247 million CNY on November 10 [1] - The main business revenue composition includes probiotic beverages (34.11%), supply chain (34.07%), probiotic foods (21.98%), and other beverages and foods (9.55%) [2] - Cumulative cash dividends since the A-share listing amount to 365 million CNY, with 132 million CNY distributed over the past three years [3] Shareholder Information - As of September 30, 2025, the number of shareholders decreased by 19.52% to 34,300, while the average circulating shares per person increased by 24.25% to 17,487 shares [2] - Tianhong Zhongzheng Food and Beverage ETF is among the top ten circulating shareholders, holding 948,500 shares, an increase of 11.67% from the previous period [3]

Core Points - Junyao Health announced that Chairman Wang Junhao has pledged 61.63 million shares, representing 100% of his holdings and 10.26% of the company's total share capital [1] - As of the announcement date, the company's controlling shareholder and its concerted parties have cumulatively pledged 282 million shares, accounting for 69.89% of their holdings and 47.00% of the company's total share capital [1]

单位：股 证券代码：605388 证券简称：均瑶健康 公告编号：2025-060 湖北均瑶大健康饮品股份有限公司 关于董事长股份质押展期的公告 ● 公司控股股东、实际控制人及其一致行动人持有公司股份 403,853,404 股， 占公司总股本的 67.25%。控股股东、实际控制人及其一致行动人累计质押股份 数量（含本次）合计 282,244,673 股，占其持股数量比例的 69.89%，占公司总股 本的 47.00%。 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。 一、本次董事长股份质押展期具体情况 重要内容提示： 公司近日收到公司董事长王均豪先生的通知，获悉其将所持有本公司的部分 股份进行了股份质押展期，具体事项如下： ● 湖北均瑶大健康饮品股份有限公司（以下简称"公司"）董事长王均豪先 生持有公司股份总数为 61,628,402 股，占公司总股本的 10.26%，质押公司股份 61,628,401 股，占其所持公司股份总数的 100.00%，占公司总股本的 10.26%。 1、截至本公告披露日，控股股东、实际控制人及其一 ...

Group 1 - The chairman of Hubei Junyao Health Beverage Co., Ltd., Wang Junhao, has pledged all of his shares, approximately 61.63 million shares, which accounts for 10.26% of the company's total equity [1] - The controlling shareholder and actual controller, along with their concerted parties, hold about 404 million shares, representing 67.25% of the total equity [1] - The total number of pledged shares by the controlling shareholder and related parties, including this instance, amounts to approximately 282 million shares, which is 69.89% of their holdings and 47% of the company's total equity [1] Group 2 - For the fiscal year 2024, the revenue composition of Junyao Health is as follows: Beverage industry 46.11%, Supply chain industry 39.89%, Food industry 13.65%, and Other businesses 0.35% [1] - The current market capitalization of Junyao Health is 4.5 billion yuan [2]

Core Viewpoint - Junyao Health announced that Chairman Wang Junhao holds 10.26% of the company's shares and has extended the pledge of 61.6284 million shares (100% of his holdings) until December 31, 2026, with the original due date being January 3, 2025. The pledge is to provide performance guarantees for Junyao Group's debts [1] Summary by Relevant Sections - Shareholding and Pledge Details - Wang Junhao holds 10.26% of Junyao Health's shares and has pledged 61.6284 million shares, which represents 100% of his holdings [1] - The pledge has been extended to December 31, 2026, from the original due date of January 3, 2025 [1] - Financial Institutions Involved - The pledge is secured by Bank of Communications Shanghai Xuhui Branch [1] - Shareholding Structure - The controlling shareholder, actual controller, and their concerted parties hold 67.25% of the shares [1] - The total pledged shares account for 69.89% of their holdings and 47.00% of the total share capital [1] - Risk Assessment - Currently, the pledge risk is considered controllable, with no risk of forced liquidation [1]

Core Viewpoint - On October 31, Junyao Health executed a block trade of 350,000 shares, amounting to 2.247 million yuan, which represented 2.49% of the total trading volume for the day. The transaction price was 6.42 yuan, reflecting a discount of 12.89% compared to the market closing price of 7.37 yuan [1]. Summary by Categories - **Transaction Details** - The block trade involved 350,000 shares of Junyao Health at a price of 6.42 yuan per share [2]. - The total transaction value was 2.247 million yuan [1]. - The trade accounted for 2.49% of the total trading volume on that day [1]. - **Market Comparison** - The transaction price of 6.42 yuan was at a 12.89% discount to the market closing price of 7.37 yuan [1].

Market Overview - The beverage and dairy sector increased by 0.4% compared to the previous trading day, with Junyao Health leading the gains [1] - The Shanghai Composite Index closed at 3954.79, down 0.81%, while the Shenzhen Component Index closed at 13378.21, down 1.14% [1] Stock Performance - Junyao Health (605388) closed at 7.37, up 3.37% with a trading volume of 120,100 shares and a turnover of 87.84 million yuan [1] - Weiweijia (600300) closed at 3.58, up 3.17% with a trading volume of 1,225,600 shares and a turnover of 436 million yuan [1] - New Dairy (002946) closed at 17.42, up 2.41% with a trading volume of 88,900 shares and a turnover of 15.3 million yuan [1] - Other notable stocks include Panda Dairy (300898) up 1.77% and Miaokelan Duo (600882) up 1.95% [1] Capital Flow - The beverage and dairy sector saw a net inflow of 70.53 million yuan from institutional investors, while retail investors contributed a net inflow of 150 million yuan [2] - However, there was a net outflow of 221 million yuan from speculative funds [2] Individual Stock Capital Flow - Chengde Lulu (000848) had a net inflow of 49.92 million yuan from institutional investors, but a net outflow of 64.64 million yuan from speculative funds [3] - Dongpeng Beverage (605499) experienced a net inflow of 33.18 million yuan from institutional investors, with a slight outflow from speculative funds [3] - Weiweijia (600300) had a net inflow of 19.50 million yuan from institutional investors, while retail investors saw a net outflow of 20.42 million yuan [3]

Core Viewpoint - Junyao Health is a well-known company in the domestic lactic acid beverage sector, focusing on the research, production, and sales of high-quality lactic acid drinks, with advanced production processes and strict quality control systems [1] Group 1: Business Performance - In Q3 2025, Junyao Health reported revenue of 1.095 billion yuan, ranking 12th in the industry, significantly lower than the top player Yili Group at 90.341 billion yuan and second-place Bright Dairy at 18.231 billion yuan [2] - The main business composition includes probiotic beverages at 261 million yuan (34.11%), supply chain products at 261 million yuan (34.07%), probiotic foods at 168 million yuan (21.98%), and other beverages and foods at 73.183 million yuan (9.55%) [2] - The net profit for the same period was -11.3712 million yuan, ranking 14th in the industry, with a notable gap compared to Yili Group's net profit of 10.42 billion yuan [2] Group 2: Financial Ratios - As of Q3 2025, Junyao Health's debt-to-asset ratio was 15.81%, lower than the previous year's 16.89% and significantly below the industry average of 41.11%, indicating strong solvency [3] - The gross profit margin for Q3 2025 was 31.18%, an increase from 29.81% in the previous year and higher than the industry average of 24.79% [3] Group 3: Executive Compensation - The chairman, Wang Junhao, received a salary of 3.1266 million yuan in 2024, a decrease of 78,100 yuan from 2023 [4] - The general manager, Yu Wei, earned a salary of 1.9935 million yuan in 2024 [4] Group 4: Shareholder Information - As of September 30, 2025, the number of A-share shareholders decreased by 19.52% to 34,300, while the average number of circulating A-shares held per household increased by 24.25% to 17,500 [5] - Tianhong Zhongzheng Food and Beverage ETF ranked as the tenth largest circulating shareholder, holding 948,500 shares, an increase of 116,700 shares from the previous period [5]

Core Insights - Junyao Health is experiencing ongoing performance challenges during its transformation, with a decline in both revenue and net profit reported for Q3 2025 [1][2] - The company has faced a continuous drop in net profit for five consecutive years, with a reported loss of 29.12 million yuan last year [1][2] - Despite a significant increase in revenue from probiotic products, overall revenue has decreased, and the company continues to invest heavily in sales, marketing, and R&D, making it difficult to alleviate performance declines in the short term [1][3] Financial Performance - For the first three quarters of 2025, Junyao Health reported approximately 1.095 billion yuan in revenue, a year-on-year decrease of 6.95% [2] - The net profit attributable to shareholders was a loss of approximately 2.3688 million yuan, a year-on-year decline of 104.79% [2] - In Q3 alone, revenue was about 329 million yuan, down 21.9% year-on-year, with a net profit loss of approximately 9.8349 million yuan, a decline of 167.09% [2] Business Challenges - The decline in performance is attributed to reduced income and increased expenditures, leading to a decrease in total profit from the beginning of the year to the reporting period [3] - Revenue from probiotic beverages decreased by 21.35% year-on-year to 386 million yuan, with declines observed across all major regions [3] - The company faces pressure from a challenging consumer environment, a shrinking market share in the dairy beverage sector, and weak downstream customer demand [3] Strategic Initiatives - Junyao Health is focusing on optimizing its revenue structure, with new product lines showing rapid development, although this has led to increased upfront sales and marketing costs [3][5] - The company has expanded its functional strain resource library to over 50,000 strains and successfully developed low-temperature probiotic beverages [3][5] - The overseas business has seen a significant growth of 72.20% compared to the same period last year, with products now available in over 80 countries and regions [3] Market Trends - The domestic beverage market is facing challenges due to the rapid growth of freshly made tea drinks, which are replacing standardized products like dairy and probiotic beverages [4] - The decline in the probiotic beverage market is also linked to changing consumer health preferences and the fragmentation of distribution channels [4] - The international market presents a key growth opportunity for Junyao Health, particularly for probiotic beverages, although rapid growth does not guarantee profitability [4] Product Development - Junyao Health has launched new probiotic products, including low-temperature active probiotic beverages, which are positioned to enhance overall profit margins [6][7] - The company aims to leverage its probiotic business to support future beverage operations, although challenges such as high cold chain costs and inventory management remain [6][7]