东兴证券股份有限公司 关于江西阳光乳业股份有限公司 使用暂时闲置募集资金进行现金管理的核查意见 江西阳光乳业股份有限公司（以下简称"阳光乳业"或"公司"） 于 2024 年 4 月 18 日召开的第六届董事会第二次会议审议通过了《关于使用暂时闲置募集资 金进行现金管理的议案》，同意在确保不影响募集资金投资项目建设、募集资金 使用的情况下，授权公司在股东大会批准通过之日起 12 个月内，使用不超过人 民币 4.5 亿元的暂时闲置募集资金进行现金管理，单笔现金管理的产品期限最长 不超过一年，在上述额度内，进行现金管理的资金可以滚动使用。 东兴证券股份有限公司（以下简称"东兴证券"或"保荐机构"）作为阳光乳业 保荐机构及持续督导机构，根据《证券发行上市保荐业务管理办法》《深圳证券 交易所股票上市规则》《深圳证券交易所上市公司自律监管指引第 1 号——主板 上市公司规范运作》等相关法律、法规和规范性文件的规定，对阳光乳业本次使 用部分暂时闲置募集资金进行现金管理的事项进行了专项核查，并发表如下意 见： 一、募集资金基本情况 经中国证券监督管理委员会《关于核准江西阳光乳业股份有限公司首次公开 发行股票的批复》（证监许可 ...

江西阳光乳业股份有限公司 审计报告 天职业字[2024]23349 号 目 录 审计报告 1 2023 年度财务报表 6 2023 年度财务报表附注 18 审计报告 天职业字[2024]23349 号 江西阳光乳业股份有限公司全体股东： 一、审计意见 我们审计了后附的江西阳光乳业股份有限公司（以下简称"阳光乳业"）财务报表，包 括 2023 年 12 月 31 日的合并及母公司资产负债表， 2023 年度的合并及母公司利润表、合 并及母公司现金流量表、合并及母公司股东权益变动表，以及财务报表附注。 我们认为，后附的财务报表在所有重大方面按照企业会计准则的规定编制，公允反映了 阳光乳业 2023 年 12 月 31 日的合并及母公司财务状况以及 2023 年度的合并及母公司经营成 果和现金流量。 二、形成审计意见的基础 我们按照中国注册会计师审计准则的规定执行了审计工作。审计报告的"注册会计师对 财务报表审计的责任"部分进一步阐述了我们在这些准则下的责任。按照中国注册会计师职 业道德守则，我们独立于阳光乳业，并履行了职业道德方面的其他责任。我们相信，我们获 取的审计证据是充分、适当的，为发表审计意见提供了基础。 ...

Revenue and Profitability - Food industry revenue reached 569,933,839.82 yuan, with a gross margin of 36.36%, an increase of 5.85% year-on-year[1] - Low-temperature dairy products revenue was 474,444,375.32 yuan, with a gross margin of 41.08%, up 6.70% year-on-year[1] - Sales in the Nanchang region increased by 8.37% year-on-year, reaching 332,823,281.70 yuan, with a gross margin of 38.60%[1] - Direct sales revenue grew by 19.01% year-on-year to 87,842,537.74 yuan, with a gross margin of 35.81%[1] - Revenue for 2023 was RMB 569.93 million, a slight increase of 0.06% compared to 2022[190] - Net profit attributable to shareholders in 2023 was RMB 115.82 million, up 4.45% year-over-year[190] - Revenue for Q1, Q2, Q3, and Q4 were RMB 116.28 million, RMB 160.76 million, RMB 145.27 million, and RMB 147.63 million respectively[196] - Net profit attributable to shareholders for Q1, Q2, Q3, and Q4 were RMB 21.94 million, RMB 40.43 million, RMB 32.41 million, and RMB 21.05 million respectively[196] Sales and Market Performance - Total sales volume in the food industry was 48,077.46 tons, a decrease of 1.66% year-on-year[2] - Top five customers contributed 64,782,545.89 yuan, accounting for 11.38% of total annual sales[9] - The company aims to deepen its market presence in Jiangxi and expand into neighboring markets such as Anhui and Hunan[63] - The company plans to expand its sales network in 2024, focusing on county-level markets, new retail channels, and government and school canteens, while also penetrating markets in Jiangxi and other provinces like Anhui[69] - The company is exposed to risks from its concentrated sales market in Jiangxi Province, but is actively expanding to neighboring provinces like Hunan and Anhui to reduce this risk[84] - The company acknowledges the risk of intensified competition in the Jiangxi market and plans to maintain its competitive edge through differentiated strategies and increased market investment[85] - The company faces risks in expanding into non-local markets due to high logistics, marketing, and cold chain costs, which could lead to significant short-term losses or failure[86] Costs and Expenses - Low-temperature dairy products accounted for 71.64% of the total cost of sales, with direct materials costing 200,809,398.41 yuan[6] - Sales expenses increased by 2.13% to 42,087,014.64 yuan in 2023, with a significant increase in advertising service fees by 29.83% to 9,244,670.89 yuan[13] - Management expenses decreased by 1.41% to 34,935,873.46 yuan in 2023[13] - Financial expenses decreased by 54.18% to -18,509,173.23 yuan in 2023 due to higher cash management returns from funds raised in 2022[13] - R&D expenses decreased by 3.72% to 18,440,249.85 yuan in 2023, accounting for 3.24% of total revenue[13][20] - The company's advertising expenses were primarily allocated to promotional materials, accounting for 89.54% of total advertising costs at 5,929,670.44 yuan[13] Inventory and Production - Inventory volume decreased by 36.47% year-on-year to 418.81 tons due to reduced pre-holiday stockpiling[2][5] - Inventory decreased by 1.45% to 32,718,209.59 yuan, reflecting improved raw material management[33] - The company's main business is the research, development, production, and sales of liquid milk and milk-containing beverages, with low-temperature dairy products being the core product[141] - The company has established a differentiated product structure focused on low-temperature products and a sales channel centered on "home delivery of milk"[141] Cash Flow and Financial Position - Operating cash flow increased by 5.30% to 168,586,511.39 yuan in 2023[20] - Investment cash flow improved significantly, with a 99.89% increase in net cash flow from -628,877,095.76 yuan in 2022 to -685,249.84 yuan in 2023[20] - Cash and cash equivalents increased by 259.92% to 124,515,544.45 yuan in 2023[20] - The company's monetary funds increased by 7.42% to 487,887,206.54 yuan, accounting for 34.18% of total assets[33] - Investment activities cash inflow increased significantly due to the maturity of two large cash management products[27] - Investment activities cash outflow decreased significantly as cash management in 2023 was substantially less than in 2022[28] - The company's cash and cash equivalents increased significantly, mainly due to reduced cash management in 2023 compared to 2022[30] - Operating cash flow increased by 5.30% to RMB 168.59 million in 2023[190] - Net cash flow from operating activities for Q1, Q2, Q3, and Q4 were RMB 7.72 million, RMB 75.33 million, RMB 16.05 million, and RMB 69.48 million respectively[196] Investments and Capital Expenditures - The company invested 7,800,000.00 yuan in Anhui Huahao Sunshine Dairy Co., Ltd., acquiring a 10.00% stake[38] - Total investment in the reporting period was 43,167,566.79 yuan, a decrease of 37.01% compared to the previous year[38] - The company raised a total of RMB 668.82 million through its initial public offering in 2022, with a net amount of RMB 600.80 million after deducting underwriting and issuance costs[49] - As of December 31, 2023, the company had cumulatively used RMB 72.51 million of the raised funds, with RMB 16.36 million used in the current year[51] - The remaining unused raised funds amount to RMB 528.29 million, which is being managed through cash management activities[49] - The investment progress for the Jiangxi base dairy product expansion and R&D upgrade project is 14.48%, with RMB 635.35 thousand invested in the current year[53] - The Anhui base dairy product phase II construction project has an investment progress of 1.75%, with no investment made in the current year[53] - The marketing channel construction and brand promotion project has an investment progress of 16.58%, with RMB 1.00 million invested in the current year[53] R&D and Innovation - R&D personnel remained stable at 86, with no change in headcount from 2022 to 2023[20] - The company's R&D investment as a percentage of operating income changed significantly compared to the previous year[24] - The capitalisation rate of R&D investment changed substantially, with a reasonable explanation provided[24] - The company will focus on new product development in 2024, particularly in concentrated milk series, A2 milk series, student milk, and various flavored beverages, aiming to increase market share in the student milk segment[67] Corporate Governance and Leadership - The company completed the election of the 6th Board of Directors on December 18, 2023, with 7 members, including 3 independent directors[95] - The company completed the election of the 6th Supervisory Board on December 18, 2023, with 3 members, including 1 employee representative[96] - Independent director Yuan Demin, supervisor Xie Jie, and employee supervisor Deng Renqiang left their positions due to the end of their terms on December 18, 2023[120] - Directors Gao Jinwen and Mei Ying left their senior management positions due to the end of their terms on December 18, 2023, but continued to serve as directors[120] - New independent director Gu Xingbin, supervisor Liu Yongping, and employee supervisor Zhou Yongbing were elected on December 18, 2023[121] - New financial officer Ai Jianbo was appointed on December 18, 2023[121] - Chairman and General Manager Hu Xiaoyun has extensive experience and holds multiple honors in the dairy industry[122] - Director Yu Yiyang holds an MBA and serves as the general manager of a subsidiary company[122] - Directors Gao Jinwen and Mei Ying both hold accounting qualifications and have extensive experience in finance[122] Industry and Market Trends - Liquid milk production in China experienced a decline in 2017-2018 but entered a new growth phase in 2019, with low-temperature milk sales growing faster than room-temperature milk from 2016-2020[129] - China's per capita dairy consumption in 2021 was 14.4kg, a 10.6% year-on-year increase, but still significantly lower than the global average[135] - The Chinese government has increased the recommended daily dairy intake from 300g to 300-500g in the 2022 Dietary Guidelines[135] - The National Student Milk Program aims to include pasteurized milk and fermented milk by 2025, which will help cultivate consumer habits for these products[136] - The 2023 Central Document No. 1 emphasized the development of silage feed and alfalfa industry, strengthening the upstream dairy supply chain[136] - The 2024 Central Document No. 1 proposed improving liquid milk standards and promoting fresh milk consumption, marking a high-quality development phase for liquid milk[136] - China's dairy industry has established a comprehensive quality and safety management system covering the entire supply chain from farm to table[137] - The dairy industry in China has shown strong vitality since 2008, with continuous market growth and significant improvements in product quality and safety[130] - In 2022, there were 622 large-scale dairy product enterprises in China, with the market dominated by a few leading companies, forming a "two superpowers and multiple strong players" competitive landscape[150] - China's per capita dairy product consumption is only one-third of the world average, indicating significant growth potential in the future[150] - The company operates in an industry where dairy products are essential for improving national nutrition and health, with increasing consumer awareness of their importance for immunity[150] Risk Factors - The company faces risks related to food safety, potential milk supply shortages, and price fluctuations, but has established quality control systems and long-term supply contracts to mitigate these risks[78][79] - The company is exposed to risks from its concentrated sales market in Jiangxi Province, but is actively expanding to neighboring provinces like Hunan and Anhui to reduce this risk[84] - The company acknowledges the risk of intensified competition in the Jiangxi market and plans to maintain its competitive edge through differentiated strategies and increased market investment[85] - The company faces risks in expanding into non-local markets due to high logistics, marketing, and cold chain costs, which could lead to significant short-term losses or failure[86] Investor Relations and Corporate Events - The company conducted an on-site research session with Shanghai Ruiyang Investment Management Co., Ltd. on May 23, 2023, discussing business operations, industry prospects, and sustainable development[87] - The company held an online performance briefing for the first half of 2023 on September 26, 2023, via the Panorama Network's investor relations platform[87] - The 2022 Annual General Meeting had an investor participation rate of 72.75%[116] - The 2023 First Extraordinary General Meeting had an investor participation rate of 72.74%[116] - No changes in shareholding were reported for any directors, supervisors, or senior management during the reporting period[118] Financial Reporting and Compliance - The company maintains strict compliance with laws and regulations regarding information disclosure and internal information management to prevent insider trading[98] - The company ensures independence in business, personnel, assets, organization, and finance from its controlling shareholders and actual controllers[102] - The company has an independent financial system, with a dedicated finance department and separate bank accounts, ensuring independent financial decision-making[106] - The company implemented the "Accounting Standards Interpretation No. 16" starting from January 1, 2023, regarding deferred tax treatment for single transactions[193] - The company's net profit after deducting non-recurring gains and losses has been negative for the past three fiscal years, indicating uncertainty in its ability to continue as a going concern[193] - There were no significant differences in net profit and net assets between Chinese and international accounting standards during the reporting period[193][194] Brand and Marketing Strategy - The company plans to focus on product innovation and brand promotion in 2024 to enhance its brand image[64] - The company plans to strengthen its brand influence in 2024 by reconstructing and repositioning the "Sunshine" brand, enhancing consumer communication, and improving brand recognition and trust[67] - The company holds two core trademarks and brands, "Sunshine" and "Everyday Sunshine," and primarily operates in the Jiangxi market, with expansion into surrounding provinces like Hunan and Anhui[141] Environmental and Social Responsibility - The report details the company's environmental and social responsibilities, including efforts in poverty alleviation and rural revitalization[162] Future Outlook and Strategic Plans - The company plans to engage in capital operations such as mergers and acquisitions to enhance its scale and competitiveness, while also fulfilling its social responsibilities as a listed company[72] - The company will invest more in its own dairy farms in 2024, optimizing cattle breeds and increasing the number of high-quality imported dairy cows to stabilize fresh milk supply and improve economic efficiency[68] - The company will implement management reforms in 2024 to improve human resource efficiency, including in-job training, performance evaluation systems, and a combination of internal cultivation and external recruitment of top talent[70] - The report highlights the company's commitment to quality and return enhancement through the "Quality and Return Dual Improvement" action plan[160] - The company's annual report includes detailed discussions on future development prospects, risk factors, and management analysis[156] - The report provides a comprehensive overview of the company's operations, financial performance, and future outlook[156] Non-Recurring Items and Government Subsidies - Non-recurring gains and losses for 2023 amounted to a net loss of RMB 400,824.98, compared to a net gain of RMB 8.10 million in 2022 and RMB 1.68 million in 2021[200] - Government subsidies received in 2023 were RMB 5.45 million, up from RMB 2.70 million in 2022 and RMB 4.16 million in 2021[200] Fixed Assets and Capital Structure - Fixed assets decreased by 1.23% to 225,994,419.78 yuan[33] - Total assets grew by 5.11% to RMB 1.43 billion at the end of 2023[190] - Shareholders' equity rose by 5.70% to RMB 1.34 billion at the end of 2023[190] - Basic earnings per share decreased by 6.42% to RMB 0.4098 in 2023[190] - Weighted average return on equity was 8.90%, down 2.67 percentage points from 2022[190] Legal and Regulatory Compliance - The company holds multiple production and operation licenses, including food production licenses, food business licenses, raw milk purchase licenses, raw milk transport permits, and pollution discharge permits, all valid until at least 2024[146][152] - The company's raw milk transport vehicles have a total capacity of 60.075 tons, with permits valid until February 19, 2025[152] Dividend Policy and Shareholder Returns - The company's profit distribution plan is to distribute a cash dividend of 1.6 yuan per 10 shares (tax included) based on 282,660,000 shares, with no bonus shares or capital reserve conversion[156] - The company emphasizes the importance of understanding the difference between "plans," "forecasts," and "commitments" and advises investors to make prudent decisions[156] Corporate Information and Stock Details - The company's registered address and office address remain unchanged at No. 1 Daishan East Road, Qingyunpu District, Nanchang City, Jiangxi Province[178] - The company's stock code is 001318 and it is listed on the Shenzhen Stock Exchange[178] - The company's legal representative is Hu Xiaoyun[178] Financial Statements and Accounting Policies - The company's financial statements and accounting policies are disclosed, including any changes in accounting estimates or policies[165] - The report includes information on the company's research and development expenditures and any changes in the scope of consolidated financial statements[167] - The company's annual report is available for review at the board of directors' office, along with other important documents[174]

江西阳光乳业股份有限公司 2023 年度监事会工作报告 二、监事会对公司 2023 年度相关事项的意见： 1、监事会对公司依法运作情况的意见 报告期内，公司监事依法列席了 2023 年所有董事会会议和股东大会，对公 司股东大会、董事会的召开程序、决议事项、董事会对股东大会决议的执行情 况和公司董事、高管人员履职情况进行了严格的监督检查。监事会认为：公司 的决策程序严格遵循了《公司法》《证券法》等法律法规和中国证监会以及 《公司章程》的各项规定，公司董事、高管人员在履职时不存在违反法律、法 规和《公司章程》约定的情况，没有损害公司和股东利益。 2023 年，江西阳光乳业股份有限公司（以下简称"公司"）监事会全体监 事严格按照《公司法》《公司章程》《监事会议事规则》和有关法律、法规的 规定，严格依法履行监事会的职责，依法独立行使职权，促进公司规范运作， 维护公司及全体股东的合法权益。监事会成员依法参加了股东大会，列席了董 事会会议，对公司各项重大事项的决策程序合规性进行了全面监督，有效发挥 了监事会职能，促进了公司规范运作。 现将 2023 年度监事会工作情况报告如下： 一、监事会日常工作情况： 2023 年公司 ...

一、募集资金基本情况 （一）实际募集资金金额、资金到账时间 东兴证券股份有限公司 关于江西阳光乳业股份有限公司 关于 2023 年度募集资金存放与使用情况的专项报告的 核查意见 东兴证券股份有限公司（以下简称"东兴证券"或"保荐机构"）作为江西阳光乳 业股份有限公司（以下简称"阳光乳业"或"公司"）首次公开发行股票并上市的 保荐机构及持续督导机构，根据《上市公司监管指引第 2 号——上市公司募集资金 管理和使用的监管要求》《证券发行上市保荐业务管理办法》《深圳证券交易所股 票上市规则》《深圳证券交易所上市公司自律监管指引第 1 号——主板上市公司规 范运作》《深圳证券交易所上市公司自律监管指引第 13 号——保荐业务》等相关 法律、法规和规范性文件的规定，对阳光乳业 2023 年度募集资金存放与使用情况 进行了核查，并发表如下意见： 经中国证券监督管理委员会《关于核准江西阳光乳业股份有限公司首次公开发 行股票的批复》（证监许可（2022）649 号）核准，公司 2022 年 5 月于深圳证券 交易所向社会公众公开发行人民币普通股(A 股)7,070 万股，发行价为 9.46 元/股， 募 集 资 金 总 额 ...

证券代码：001318 证券简称：阳光乳业 公告编号：2024-007 江西阳光乳业股份有限公司 关于召开 2023 年度股东大会的通知 本公司及董事会全体成员保证信息披露内容的真实、准确、完整、没有虚 假记载、误导性陈述或重大遗漏。 江西阳光乳业股份有限公司（以下简称"公司"）第六届董事会第二次会议 审议通过了《关于召开 2023 年度股东大会的议案》，决定于 2024 年 5 月 10 日 召开公司 2023 年度股东大会，现将会议有关事项通知如下： 一、召开会议的基本情况 1、股东大会届次：2023 年度股东大会 2、股东大会的召集人：公司第六届董事会 3、会议召开的合法、合规性：本次股东大会会议的召开符合有关法律、行 政法规、部门规章、规范性文件和《公司章程》的规定。 4、会议召开日期和时间 （1）现场会议时间：2024 年 5 月 10 日（星期五）下午 14:30 （2）网络投票时间：2024 年 5 月 10 日（星期五） 通过深圳证券交易所交易系统进行网络投票的具体时间为：2024 年 5 月 10 日 9：15-9：25、9：30-11：30、13：00-15：00； 通过深圳证券交易所互联 ...

证券代码：001318 证券简称：阳光乳业 公告编号：2024-009 江西阳光乳业股份有限公司 第六届监事会第二次会议决议公告 本公司及监事会全体成员保证信息披露内容的真实、准确、完整、没有虚 假记载、误导性陈述或重大遗漏。 一、 监事会会议召开情况 江西阳光乳业股份有限公司（以下简称"公司"）第六届监事会第二次会议 通知于 2024 年 4 月 8 日以电子邮件和直接送达的形式发出，并于 2024 年 4 月 18 日在公司会议室以现场会议的方式召开。本次会议由公司监事会主席肖爱国 先生召集并主持，应出席监事 3 人，实际出席监事 3 人。 本次会议的召集和召开符合《公司法》等法律、行政法规、规范性文件以及 《公司章程》的规定。 1、审议通过《2023 年度监事会工作报告》 具体内容详见同日在巨潮网（www.cninfo.com.cn）披露的《2023 年度监事 会工作报告》。 表决结果：3 票同意，0 票反对，0 票弃权 2、审议通过《2023 年度财务决算报告》 具体内容详见同日在巨潮网（www.cninfo.com.cn）披露的《2023 年度财务 决算报告》。 表决结果：3 票同意，0 票反对，0 ...

证券代码：001318 证券简称：阳光乳业 公告编号：2024-010 江西阳光乳业股份有限公司 关于注销子公司的公告 本公司及其董事会全体成员保证信息披露内容的真实、准确、完整，没 有虚假记载、误导性陈述或重大遗漏。 5、注册资本：8000.00 万元人民币 6、登记机关：福清市市场监督管理局 7、注册地址：福建省福州市福清市城头镇东皋村元洪投资区原管委会大楼 二层 8、经营范围：乳制品、饮料生产销售（经营场所另设） 根据江西阳光乳业股份有限公司（以下简称"公司"）整体经营规划，为优 化公司资源配置和管理架构，提高经营效率，公司于 2024 年 4 月 18 日召开第六 届董事会第二次会议，审议通过了《关于注销子公司的议案》，公司拟注销全资 子公司福建澳新阳光乳业有限公司（以下简称"福建阳光"），并授权公司管理 层办理相关注销事宜。根据《深圳证券交易所股票上市规则》《公司章程》等有 关规定，本次注销事项在董事会审批权限内，无需提交股东大会审议。本次注销 事项不涉及关联交易，也不构成《上市公司重大资产重组管理办法》规定的重大 资产重组。 一、福建阳光基本情况 1、公司名称：福建澳新阳光乳业有限公司 2、统一社 ...

公司董事会审计委员会对天职事务所及项目人员的专业资质、业务能力、 投资者保护能力、诚信状况、独立性、审计工作情况及其执业质量等进行了核 查和评价，认为其具备为公司提供审计工作的资质和专业能力，能够满足公司 审计工作的要求。 二、审计工作监督情况 （1）公司董事会审计委员会与负责公司审计项目的天职事务所负责人及注 册会计师进行了审前沟通，认真听取和审阅了其对公司年报审计的工作计划和 时间安排，确保工作安排合理，积极保障公司年审工作的正常开展； 江西阳光乳业股份有限公司 董事会审计委员会对会计师事务所 履行监督职责情况报告 根据《中华人民共和国公司法》《中华人民共和国证券法》《上市公司 治理准则》《国有企业、上市公司选聘会计师事务所管理办法》等规定和要 求，江西阳光乳业股份有限公司（以下简称"公司"）董事会审计委员会 （以下简称"审计委员会"）本着勤勉尽责的原则，恪尽职守认真履职，对 公司审计机构天职国际会计师事务所（特殊普通合伙）（以下简称"天职事 务所"）2023 年审计工作履行了监督职责，现将情况汇报如下： 一、资质审查情况 （2）在审计期间，董事会审计委员会与天职事务所进行了充分的沟通，听 取了其关于公司 ...

江西阳光乳业股份有限公司 会计师事务所 2023 年度履职情况评估报告 江西阳光乳业股份有限公司（以下简称"公司"）聘请天职国际会计师事务所 （特殊普通合伙）（以下简称"天职事务所"）作为公司 2023 年度审计机构。根据财 政部及中国证券监督管理委员会颁布的《国有企业、上市公司选聘会计师事务所 管理办法》要求，公司对天职事务所在近一年审计中的履职情况进行了评估，具 体情况如下： 1.基本信息 （1）机构名称：天职国际会计师事务所（特殊普通合伙） （2）成立日期：2012 年 3 月 5 日 （3）组织形式：特殊普通合伙企业 （4）注册地址：北京市海淀区车公庄西路 19 号 68 号楼 A-1 和 A-5 区域 （5）首席合伙人：邱靖之 （6）截至 2022 年 12 月 31 日天职事务所合伙人 85 人，注册会计师 1061 人，签 署过证券服务业务审计报告的注册会计师 347 人。 （7）天职事务所 2022 年度经审计的收入总额 31.22 亿元，审计业务收入 25.18 亿 元，证券业务收入 12.03 亿元。 （8）2022 年度上市公司审计客户 248 家，主要行业（证监会门类行业，下同）包 括 ...