Core Viewpoint - The resignation of Dai Sijue, the youngest chairman in A-share history, comes amid a strong performance rebound for Baolingbao, raising questions about underlying financial pressures within the company's controlling entities [1][2][3] Group 1: Resignation Details - Dai Sijue submitted his resignation as chairman and board member of Baolingbao on November 17, 2023, citing personal reasons [2] - He will continue to hold positions in Baolingbao's subsidiaries, indicating a partial retention of influence [2] - Dai Sijue became chairman in March 2021 at the age of 26, during a peak period for the sugar-free beverage market [2][3] Group 2: Company Performance - Baolingbao reported a net profit of 111 million yuan for 2024, a year-on-year increase of 105.97%, and a significant rise in non-recurring net profit by 254.56% [3] - For the first three quarters of 2025, the company achieved a revenue of 2.126 billion yuan, up 15.98%, and a net profit of 134 million yuan, reflecting a 32.58% increase [3] - The growth is attributed to increased sales of core products such as sugar-reduced sweeteners and dietary fibers, alongside improved gross margins [3] Group 3: Control and Financial Pressures - The actual control of Baolingbao shifted from Dai Sijue alone to a joint control with his brother, Dai Sicong, in August 2024 [4] - A planned share buyback by Dai Sicong's investment firm has faced delays due to "funding arrangements," with the initial commitment to acquire 5% of shares not met [4][5] - Dai Sijue's investment firm, Yongyu Investment, has been listed as a defendant in multiple court cases, with total amounts exceeding 280 million yuan, indicating financial strain [1][5]

截至本公告披露日，戴斯觉未直接持有公司股份，通过北京永裕投资管理有限公司持有公司29,508,653 股股票,占公司总股本的7.75%，戴斯觉为公司实际控制人之一。 11月17日，保龄宝发布公告称，公司董事会于2025年11月17日收到公司董事长戴斯觉的书面辞职报告。 戴斯觉因个人原因申请辞去公司董事长、董事、董事会战略委员会主任委员职务。戴斯觉辞职后 仍 担 任 公 司 全 资 孙公 司 BLB INTERNATIONAL DEVELOPMENT(SINGAPORE) PTE.ITD.、BLB BIO- TECH USA INC董事职务。 根据《公司章程》、《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》的有 关规定，戴斯觉的辞职不会导致公司董事会成员低于法定最低人数，不会影响公司董事会的正常运行及 公司正常生产经营工作，戴斯觉的辞职报告自送达公司董事会时生效。鉴于新任董事长的选举工作尚需 经过相应的法定程序，公司将按照法定程序尽快完成公司董事长的补选等相关工作，并及时履行信息披 露义务。 （企业公告） (编辑：王璨 林辰)关键字： 饮料 ...

格隆汇11月17日丨保龄宝(002286.SZ)公布，董事会于2025年11月17日收到公司董事长戴斯觉先生的书 面辞职报告。戴斯觉先生因个人原因申请辞去公司董事长、董事、董事会战略委员会主任委员职务。戴 斯觉先生辞职后仍担任公司全资孙公司 BLBINTERNATIONALDEVELOPMENT(SINGAPORE)PTE.ITD.、BLBBIO-TECHUSAINC董事职务。 ...

人民财讯11月17日电，保龄宝（002286）11月17日公告，戴斯觉因个人原因申请辞去公司董事长、董 事、董事会战略委员会主任委员职务。 ...

Group 1 - The chairman of Baolingbao, Dai Sijue, submitted his resignation due to personal reasons, effective November 17, 2025, while retaining positions in the company's wholly-owned subsidiaries [1] - Baolingbao's revenue composition for the first half of 2025 indicates that the food manufacturing sector accounts for 100% of its revenue [1] - As of the latest report, Baolingbao's market capitalization stands at 4.1 billion yuan [2]

保龄宝11月17日公告，公司董事会收到董事长戴斯觉的书面辞职报告，戴斯觉因个人原因申请辞去公司 董事长、董事等职务。戴斯觉辞职后仍担任公司全资孙公司BLB INTERNATIONAL DEVELOPMENT （SINGAPORE） PTE.ITD.、BLB BIO-TECH USA INC董事职务。戴斯觉的辞职报告自送达公司董事会 时生效。 ...

南财智讯11月17日电，保龄宝公告，公司董事会于2025年11月17日收到董事长戴斯觉先生的书面辞职报 告。戴斯觉先生因个人原因申请辞去公司董事长、董事、董事会战略委员会主任委员职务。戴斯觉先生 辞职后仍担任公司全资孙公司BLBINTERNATIONALDEVELOPMENT(SINGAPORE)PTE.ITD.、 BLBBIO-TECHUSAINC董事职务。根据相关规定，戴斯觉先生的辞职报告自送达公司董事会时生效。 公司将按照法定程序尽快完成董事长的补选等相关工作。截至公告披露日，戴斯觉先生未直接持有公司 股份，通过北京永裕投资管理有限公司持有公司29,508,653股股票，占公司总股本的7.75%，戴斯觉先 生为公司实际控制人之一。戴斯觉先生不存在应当履行而未履行的承诺事项。 ...

股票简称：保龄宝 股票代码：002286 公告编号：2025-062 保龄宝生物股份有限公司 关于公司董事长辞职的公告 保龄宝生物股份有限公司（以下简称"保龄宝"或"公司"）董事会于2025 年11月17日收到公司董事长戴斯觉先生的书面辞职报告。戴斯觉先生因个人原因 申请辞去公司董事长、董事、董事会战略委员会主任委员职务。戴斯觉先生辞职 后 仍 担 任 公 司 全 资 孙 公 司 BLB INTERNATIONAL DEVELOPMENT(SINGAPORE) PTE.ITD.、BLB BIO-TECH USA INC董事职务。 根据《公司章程》、《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》的有关规定，戴斯觉先生的辞职不会导致公司董事会成员 低于法定最低人数，不会影响公司董事会的正常运行及公司正常生产经营工作， 戴斯觉先生的辞职报告自送达公司董事会时生效。鉴于新任董事长的选举工作尚 需经过相应的法定程序，公司将按照法定程序尽快完成公司董事长的补选等相关 工作，并及时履行信息披露义务。 截至本公告披露日，戴斯觉先生未直接持有公司股份，通过北京永裕投资管 理有限公司持有公司29,508, ...

Group 1 - The core point of the news is that Baolingbao's stock price has experienced fluctuations, with a current price of 10.60 CNY per share, reflecting a year-to-date increase of 44.81% [1] - As of November 17, Baolingbao's market capitalization stands at 4.034 billion CNY, with a trading volume of 76.62 million CNY and a turnover rate of 1.93% [1] - The company has seen a net outflow of 5.7993 million CNY in principal funds, with significant buying and selling activity from large orders [1] Group 2 - Baolingbao Biotech Co., Ltd. is located in Dezhou, Shandong Province, and was established on October 16, 1997, with its listing date on August 28, 2009 [2] - The company's main business involves the research, production, and sales of functional sugars, with revenue composition including starch sugars (29.89%), sugar substitutes (26.55%), feed and by-products (22.40%), probiotics (13.48%), dietary fibers (7.39%), and others (0.29%) [2] - For the period from January to September 2025, Baolingbao achieved a revenue of 2.126 billion CNY, representing a year-on-year growth of 15.98%, and a net profit attributable to shareholders of 134 million CNY, up 32.58% [2]

Investment Rating - The report maintains an investment rating of "Outperform the Market - A" [5] Core Insights - The application of Human Milk Oligosaccharides (HMOs) is expected to accelerate, driven by their recognized nutritional benefits and expanding regulatory approvals [3] - The infant formula market is experiencing increased concentration, with the top 10 companies' market share rising from 68% in 2017 to 83% in Q3 2025, indicating a shift towards premium product offerings that include HMOs [2] - The potential market space for HMOs in the Chinese infant formula sector is estimated to be between 5.86 billion to 11.72 billion yuan, based on projected production and pricing [2] Summary by Sections HMO Nutritional Benefits - HMOs are the third largest nutritional component in breast milk, consisting of various structures that contribute positively to infant health, including growth, gut health, immunity, and cognitive development [1] Market Dynamics - The implementation of stringent new standards for infant formula has led to significant market consolidation and a focus on nutritional enhancement, with major brands introducing HMO-enriched products [2] - The expected production of infant formula in China for 2024 is approximately 1.563 million tons, with a significant portion anticipated to be high-end products requiring HMO addition [2] Regulatory Developments - Recent approvals by health authorities to expand the use of HMOs in various food products indicate a growing recognition of their value, which could lead to exponential market growth if HMOs are utilized beyond infant formula [3] - Companies like Ganbaiyou and Qiu Tian Man Man are already responding to these regulatory changes by launching HMO-added products [3] Company Focus - Companies such as Langkun Technology, Baolingbao, and Jiabiyou are actively developing HMO production capabilities, with significant annual production capacities planned [10]