Financial Performance - The company's revenue for Q1 2025 reached ¥684,796,378.74, representing a 24.23% increase compared to ¥551,221,292.75 in the same period last year[5] - Net profit attributable to shareholders was ¥50,355,660.30, a significant increase of 117.35% from ¥23,168,151.36 year-on-year[5] - The net profit after deducting non-recurring gains and losses was ¥49,450,529.45, up 143.31% from ¥20,323,963.12 in the previous year[5] - Basic and diluted earnings per share both increased to ¥0.14, reflecting a 133.33% rise compared to ¥0.06 in the same period last year[5] - Total operating revenue for the current period reached ¥684,796,378.74, a 24.2% increase from ¥551,221,292.75 in the previous period[33] - Net profit for the current period was ¥50,355,660.30, compared to ¥23,168,151.36 in the previous period, representing a 117.6% increase[34] - Operating profit increased to ¥59,535,302.13, up from ¥29,611,022.77, marking a 101.5% growth[34] - Total comprehensive income for the current period was ¥46,300,443.40, significantly higher than ¥1,716,671.41 in the previous period[34] Assets and Liabilities - Total assets at the end of the reporting period were ¥2,766,415,489.37, a 3.46% increase from ¥2,673,967,499.20 at the end of the previous year[5] - The company's total liabilities as of March 31, 2025, are 678,585,358.88 RMB, up from 632,437,812.11 RMB[32] - The company's retained earnings increased to 754,931,829.85 RMB from 704,576,169.55 RMB, showing a growth of about 7.14%[32] - Cash and cash equivalents at the end of the period totaled ¥280,452,750.62, an increase from ¥234,055,805.03 at the end of the previous period[39] Cash Flow - The company reported a net cash flow from operating activities of -¥15,763,559.13, a 9.14% decline compared to -¥14,443,157.72 in the same period last year[5] - Cash flow from operating activities showed a net outflow of ¥15,763,559.13, slightly worse than the previous period's outflow of ¥14,443,157.72[38] - The company experienced a cash inflow from financing activities of ¥76,714,973.30, compared to ¥10,815,989.77 in the previous period, indicating a significant improvement[39] Research and Development - Research and development expenses increased by 35.35% to ¥1,998,286.08, driven by higher spending on new product development[9] - Research and development expenses rose to ¥1,998,286.08, compared to ¥1,476,414.79 in the previous period, indicating a 35.4% increase[33] - The company has authorized 3 invention patents in Q1 2025, including 2 domestic and 1 U.S. patent[25] Product Development and Market Performance - The overall gross margin for the company's products increased to 13.65%, up 3.67% from the same period last year[17] - The gross margin for the three core products (prebiotics, dietary fiber, and sugar-reducing sweeteners) reached 18.36%, an increase of approximately 5.03% year-on-year[17] - The revenue from sugar-reducing sweeteners in Q1 2025 grew by approximately 96%, with erythritol, allulose, and crystalline fructose revenues increasing by about 123%, 82%, and 80% respectively[20] - The gross margin for prebiotics improved by 2.2% to 25%, while dietary fiber gross margin increased by 4.97% to 18%[17] - The company has optimized its product structure, with the three core products accounting for 60.68% of revenue and 63% of total gross profit[18] Investments and Projects - The company has completed the construction of a DHA algal oil production line with an initial planned annual output of 2,000 tons, which is currently in trial production[22] - The company has initiated the construction of a project for the annual production of 2,500 tons of HMOs (human milk oligosaccharides), which has also been completed and is in small-scale production[22] - The company is in the process of submitting safety assessment materials for HMOs as a new food nutrition fortifier to the National Health Commission[24] - The company plans to invest up to 621.80 million RMB (approximately 85 million USD) in the U.S. functional sugar (alcohol) project to meet growing international demand[26] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 30,156[11] - Accounts receivable rose to 274,263,768.56 RMB from 242,427,300.35 RMB, indicating a growth of approximately 13.14%[30] - Inventory increased to 323,169,653.46 RMB from 288,707,250.38 RMB, reflecting a growth of about 11.92%[30] - Short-term borrowings increased to 330,136,068.34 RMB from 260,186,663.06 RMB, representing a rise of approximately 26.87%[31]

Core Insights - The company reported a revenue of 2.402 billion yuan for 2024, a year-on-year decrease of 4.84%, while net profit attributable to shareholders reached 111 million yuan, a significant increase of 105.97% [1] - The company achieved a substantial growth in net profit excluding non-recurring gains and losses, which amounted to 124 million yuan, reflecting a remarkable increase of 254.56% [1] - Key business segments such as prebiotics, dietary fiber, and sugar-reducing sweeteners saw sales volume and revenue growth, with prebiotics generating 335 million yuan (up 16.02%), dietary fiber at 238 million yuan (up 14.52%), and sugar-reducing sweeteners at 516 million yuan (up 29.73%) [1] Cost Control and Product Structure Optimization - The company enhanced supply chain management and optimized procurement processes, establishing stable long-term relationships with suppliers to effectively reduce procurement costs [2] - Production cost savings were achieved through process upgrades for prebiotics, dietary fiber, and sugar-reducing sweeteners, leading to a significant reduction in raw material consumption [2] - High-value products such as premium prebiotics and dietary fibers contributed to 60.46% of the company's total gross profit [2] Innovation and Marketing Strategies - The company is expanding its product lineup with new offerings in the field of human milk oligosaccharides and has initiated lactose production to strengthen its prebiotic product system [3] - Strategic partnerships, such as with Qingdao Haizhiyuan Life Science Technology Co., are aimed at promoting DHA and enhancing the company's position in the nutritional oil market [3] - The company is innovating its marketing strategies to meet the growing demand for health-oriented and functional foods, focusing on high-margin products [3] Equity Incentives and Future Outlook - The company introduced a restricted stock incentive plan, granting 11.1 million shares to 50 key personnel, with performance targets set for net profits in the coming years [4] - The performance targets reflect the management's confidence in future prospects and aim to motivate the sales and R&D teams to enhance market competitiveness [4] - The company is well-positioned to benefit from the rapid growth of the health food market, driven by increasing consumer awareness and demand for functional food ingredients [5] Overall Performance and Future Prospects - The 2024 annual report highlights the company's commitment to transformation and resilience in overcoming challenges, achieving significant improvements in profitability [6] - Continuous investment in R&D and innovative marketing strategies are expected to solidify the company's foundation for sustainable growth in the health food sector [6]

记者丨张飞涛 4月21日，保龄宝公告显示，公司董事会同意解聘张国刚副总经理职务，解聘后不再担任任何职务。 2月份，张国刚因工作变动原因辞去了保龄宝董事会秘书职务。彼时，保龄宝表示，张国刚在担任董事会秘书期间，恪尽职守、勤勉尽 责。 鳌头财经发现，2022年和2023年，保龄宝营业收入分别下降1.89%和6.96%，2024年营业收入也同比下滑。 值得一提的是，保龄宝新实际控制人戴斯聪拟最高增持公司10%的股份，并称不设置固定价格、价格区间。 实习生丨程睿 出品丨鳌头财经 两个月前还"恪尽职守"，如今保龄宝（002286.SZ）副总经理突然被解聘。 张国刚履新两个月后被辞退 4月21日，保龄宝发布公告显示，依据《公司法》《公司章程》中有关规定，经总经理提名，董事会提名委员会审核，公司董事会同意解 聘张国刚副总经理职务，解聘后不再担任任何职务，解聘自本次董事会审议通过之日起生效。 然而，增持时限快到后，戴斯聪仅累计增持980.57万元，并将增持期限延长一年。 保龄宝给出的原因是，戴斯聪为中国香港永久居民，因其资金安排、资金调动等原因，预计本次增持计划无法在原定期限内完成。 公告中，保龄宝并未解释解聘张国刚的具体事 ...

Group 1: Yanjing Beer - Yanjing Beer reported a revenue growth of 6.69% to 3.827 billion yuan in Q1 2025 [1] - The net profit attributable to shareholders increased by 61.1% to 165 million yuan [1] - The company achieved beer sales of 995,000 kiloliters, with the flagship product Yanjing U8 maintaining a growth rate of over 30% [1] Group 2: Shunxin Agriculture - Shunxin Agriculture's revenue decreased by 13.85% to 9.126 billion yuan in 2024 [2] - The net profit attributable to shareholders increased by 178.20% to 231 million yuan [2] - Low-end liquor revenue grew by 5.08% to 4.974 billion yuan, while high-end and mid-range liquor revenues saw declines [2] Group 3: Danone - Danone's Q1 2025 revenue grew by 4.3% to 6.844 billion euros [3] - Sales in China, North Asia, and Oceania increased by 9.9%, driven by volume and product mix [3] - The infant formula segment, particularly the Essensis series, continued to expand market share [3] Group 4: Miaokelando - Miaokelando reported a Q1 revenue growth of 6.26% to 1.233 billion yuan [4] - The net profit attributable to shareholders increased by 114.88% to 82.4 million yuan [4] - The company plans to innovate children's cheese products for older age groups while continuing to develop adult cheese products [4] Group 5: Baolingbao - Baolingbao's total revenue for 2024 was 2.402 billion yuan, a decrease of 4.84% [5] - The net profit attributable to shareholders increased by 105.97% to 111 million yuan [5] - Key products such as prebiotics and dietary fibers saw significant revenue growth [5] Group 6: Muyuan Foods - Muyuan Foods reported a Q1 revenue of 36.061 billion yuan, a year-on-year increase of 37.26% [6] - The company achieved a net profit of 4.491 billion yuan, marking a turnaround from losses [6] Group 7: Ziyuan Foods - Ziyuan Foods plans to invest 70 million yuan in its subsidiary and up to 35 million USD in Green Tea Group's IPO [7] Group 8: Qiaqia Foods - Qiaqia Foods reported a revenue of 7.131 billion yuan in 2024, a growth of 4.79% [8] - The net profit attributable to shareholders was 849 million yuan, an increase of 5.82% [8] - The company expanded its e-commerce channels and overseas markets, achieving significant growth [9] Group 9: Yanjinpuzi - Yanjinpuzi's revenue increased by 28.89% to 5.304 billion yuan in 2024 [10] - The net profit attributable to shareholders grew by 26.53% to 640 million yuan [10] - The company focused on six core product categories and achieved significant supply chain improvements [10] Group 10: Hengshun Vinegar - Hengshun Vinegar reported a revenue of 2.196 billion yuan, a 4.25% increase [11] - The net profit attributable to shareholders increased by 46.54% to 127 million yuan [11] - The company implemented cost reduction and efficiency improvement measures [11] Group 11: Kemin Foods - Kemin Foods announced the election of Chen Hong as the chairman of the board [12] Group 12: Gaoxin Retail - Gaoxin Retail expects a tax profit of approximately 350 to 400 million yuan for the fiscal year ending March 31, 2025, a significant improvement from a loss of 1.668 billion yuan [13] - The improvement is attributed to stable sales growth and effective cost reduction measures [13] Group 13: Bubugao - Bubugao reported a Q1 revenue of 1.153 billion yuan, a year-on-year increase of 24.22% [14] - The net profit attributable to shareholders was 119 million yuan, reflecting a growth of 488.44% [14]

保龄宝生物股份有限公司 非经营性资金占用及其他关联方资金往来情况 专项说明 关于保龄宝生物股份有限公司 非经营性资金占用 及其他关联方资金往来情况的专项说明 和信专字（2025）第 000115 号 | 一、非经营性资金占用及其他关联方资金往来情况的专项说明 | 1-2 | | | --- | --- | --- | | 目 录 二、非经营性资金占用及其他关联资金往来情况汇总表 | 页 3 | 码 | 和信会计师事务所（特殊普通合伙） 二○二五年四月二十四日 保龄宝生物股份有限公司 专项说明 关于保龄宝生物股份有限公司非经营性资金占用 及其他关联方资金往来情况的专项说明 和信专字（2025）第 000115 号 保龄宝生物股份有限公司全体股东： 我们接受委托，依据中国注册会计师审计准则审计了保龄宝生物股份有限公 司（以下简称保龄宝公司）2024 年 12 月 31 日的合并及公司资产负债表，2024 年度的合并及公司利润表、合并及公司现金流量表、合并及公司股东权益变动表 以及财务报表附注，并于 2025 年 04 月 24 日出具了和信审字（2025）第 000288 号无保留意见审计报告。 依据中国证券监督 ...

保龄宝生物股份有限公司 2024 年度财务报表 审 计 报 告 保龄宝生物股份有限公司 审计报告 和信审字（2025）第 000288 号 | 目 录 | 页 码 | | --- | --- | | 一、审计报告 | 1-5 | | 二、已审财务报表及附注 | | | 1、合并及公司资产负债表 | 6-9 | | 2、合并及公司利润表 | 10-11 | | 3、合并及公司现金流量表 | 12-13 | | 4、合并及公司股东权益变动表 | 14-17 | | 5、财务报表附注 | 18-119 | 和信会计师事务所（特殊普通合伙） 二〇二五年四月二十四日 保龄宝生物股份有限公司 报告正文 审 计 报 告 和信审字（2025）第 000288 号 保龄宝生物股份有限公司全体股东： 一、审计意见 我们审计了保龄宝生物股份有限公司（以下简称保龄宝公司）财务报表，包括 2024 年 12 月 31 日的合并及公司资产负债表，2024 年度的合并及公司利润表、合 并及公司现金流量表、合并及公司股东权益变动表以及相关财务报表附注。 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 允反映了保龄宝公司 ...

内部控制审计报告 保龄宝生物股份有限公司 内部控制审计报告 和信审字（2025）第 000289 号 | 目 | 录 | 页 | 码 | | --- | --- | --- | --- | | 一、内部控制审计报告 | | 1-2 | | | 二、内部控制自我评价报告 | | 3-7 | | 保龄宝生物股份有限公司 和信会计师事务所（特殊普通合伙） 二○二五年四月二十四日 保龄宝生物股份有限公司 报告正文 关于保龄宝生物股份有限公司 内部控制审计报告 和信审字（2025）第 000289 号 保龄宝生物股份有限公司全体股东： 按照《企业内部控制审计指引》及中国注册会计师执业准则的相关要求，我 们审计了保龄宝生物股份有限公司（以下简称"保龄宝公司"）2024 年 12 月 31 日的财务报告内部控制的有效性。 一、企业对内部控制的责任 按照《企业内部控制基本规范》、《企业内部控制应用指引》、《企业内部控制 评价指引》的规定，建立健全和有效实施内部控制，并评价其有效性是保龄宝公 司董事会的责任。 二、注册会计师的责任 我们的责任是在实施审计工作的基础上，对财务报告内部控制的有效性发表 审计意见，并对注意到的非财务 ...

第二条 董事会下设董事会办公室，处理董事会日常事务。 董事会秘书兼任董事会办公室负责人，保管董事会和董事会办公室印章。 保龄宝生物股份有限公司 董事会议事规则 （本制度已经公司第六届董事会第九次会议审议通过，尚需公司股东会审议通 过后施行） 第一条 为规范保龄宝生物股份有限公司（以下简称"公司"）董事会的议事方 式和议事程序，促使董事会有效履行职责，提高董事会的规范运作和科学决策水平， 根据《中华人民共和国公司法》（以下简称《公司法》）、《中华人民共和国证券法》 （以下简称《证券法》）《上市公司治理准则》《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》及其他法律法规和《保龄宝生物股份有限公 司章程》（以下简称"《公司章程》"）的规定，结合公司的实际情况制定本议事规则。 第三条 董事会会议分为定期会议和临时会议。 董事会每年应当至少在上下两个半年度各召开一次定期会议。 第四条 在发出召开董事会定期会议的通知前，董事会办公室应当充分征求各 董事的意见，初步形成会议提案后交董事长拟定。 董事长在拟定提案前，应当视需要征求经理和其他高级管理人员的意见。 第五条 有下列情形之一的，董事会应当召 ...

保龄宝生物股份有限公司 舆情管理制度 第二条 本制度适用于公司及合并报表范围内的各子公司。 第三条 本制度所称舆情包括： （一）报刊、电视、网络等媒体及自媒体对公司进行的负面报道或不实报道； （二）社会上存在的已经或将给公司造成不良影响的传言或信息； （三）可能或者已经影响社会公众投资者投资取向，造成公司股票及其衍生 品种交易价格异常波动的信息； （四）其他涉及公司信息披露且可能对公司股票及其衍生品种交易价格产生 重大影响的事件信息。 第四条 舆情信息的分类： （本制度已经公司第六届董事会第九次会议审议通过） 第一章 总 则 第一条 为了提高保龄宝生物股份有限公司（以下简称"公司"）应对各类 舆情的能力，建立快速反应和应急处置机制，及时、妥善处理各类舆情对公司股 票、商业信誉及正常生产经营活动造成的影响，切实保护投资者合法权益，根据 《中华人民共和国公司法》《中华人民共和国证券法》《上市公司投资者关系管 理工作指引》《上市公司信息披露管理办法》《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》等法 律法规、规范性文件以及《保龄宝生物股份有限公司章程》（以下简称 ...

保龄宝生物股份有限公司 投资者关系管理办法 （本制度已经公司第六届董事会第九次会议审议通过） 第一章 总 则 第一条 为了加强保龄宝生物股份有限公司（以下简称"公司"）与投资者 和潜在投资者（以下合称"投资者"）之间的信息沟通，切实建立公司与投资者 （特别是社会公众投资者）的良好沟通平台，完善公司治理结构，切实保护投资 者（特别是社会公众投资者）的合法权益，形成公司与投资者之间长期、稳定、 和谐的良性互动关系，根据《中华人民共和国公司法》《中华人民共和国证券法》 《上市公司投资者关系管理工作指引》《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》等法律法 规、规范性文件及《保龄宝生物股份有限公司章程》（以下简称"《公司章程》"） 的有关规定，结合本公司实际情况，制定本办法。 第二条 本办法所指"投资者关系管理"是指公司通过便利股东权利行使、 信息披露、互动交流和诉求处理等工作，加强与投资者及潜在投资者之间的沟通， 增进投资者对公司的了解和认同，以提升公司治理水平和企业整体价值，实现尊 重投资者、回报投资者、保护投资者目的的相关活动。 第三条 公司控股股东、 ...