债券代码：127046 债券简称：百润转债 收到《行政处罚决定书》的公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 上海百润投资控股集团股份有限公司（以下简称"公司"）近日收到公司 独立董事张晓荣先生的通知，其于近日收到中国证券监督管理委员会厦门监管 局下发的《行政处罚决定书》[2024]4 号。张晓荣先生因上会会计师事务所（特 殊普通合伙）罗普特科技集团股份有限公司 2021 年年报审计执业违法行为，依 据《中华人民共和国证券法》的有关规定，被给予警告，并处以 60 万元罚款。 证券代码：002568 证券简称：百润股份 公告编号：2024-050 张晓荣先生自 2021 年 11 月以来担任公司独立董事，上述行政处罚事项与公 司无关，不会对本公司的日常经营活动产生影响。 上海百润投资控股集团股份有限公司 特此公告。 关于独立董事因非本公司事项 上海百润投资控股集团股份有限公司 董事会 二〇二四年八月二十一日 1 ...

债券代码：127046 债券简称：百润转债 证券代码：002568 证券简称：百润股份 公告编号：2024-055 上海百润投资控股集团股份有限公司 关于选举职工代表监事的公告 本公司及监事会全体成员保证信息披露内容的真实、准确和完整，没有虚 假记载、误导性陈述或重大遗漏。 证券代码：002568 证券简称：百润股份 公告编号：2024-055 债券代码：127046 债券简称：百润转债 附件：职工代表监事简历 蔡佩瑛 女士：1984 年出生，本科学历，中级会计师；中国国籍，无永久境 外居留权；2007 年至 2015 年，在上海百润投资控股集团股份有限公司工作，历 任公司会计、内审负责人；2015 年 6 月至今任公司监事。 蔡佩瑛女士与公司控股股东及实际控制人、公司其他董事、监事、高级管理 人员以及其他持有公司 5%以上股份的股东之间不存在关联关系；其未持有公司 股票；其不存在《公司法》规定禁止任职的情形，未受过中国证监会及其他有关 部门的处罚和证券交易所惩戒；其不属于"失信被执行人"，符合《公司法》等相 关法律法规、规范性文件规定的任职条件。 鉴于上海百润投资控股集团股份有限公司（以下简称"公司"）第五 ...

上海百润投资控股集团股份有限公司 √ 是 □ 否 三、被提名人符合中国证监会《上市公司独立董事管理办法》和深圳证券 交易所业务规则规定的独立董事任职资格和条件。 √ 是 □ 否 独立董事提名人声明与承诺 提名人上海百润投资控股集团股份有限公司董事会现就提名陈伟权为上 海百润投资控股集团股份有限公司第 6 届董事会独立董事候选人发表公开声明。 被提名人已书面同意出任上海百润投资控股集团股份有限公司第 6 届董事会独 立董事候选人（参见该独立董事候选人声明）。本次提名是在充分了解被提名人 职业、学历、职称、详细的工作经历、全部兼职、有无重大失信等不良记录等 情况后作出的，本提名人认为被提名人符合相关法律、行政法规、部门规章、 规范性文件和深圳证券交易所业务规则对独立董事候选人任职资格及独立性 的要求，具体声明并承诺如下事项： 一、被提名人已经通过上海百润投资控股集团股份有限公司第 5 届董事会 提名委员会或者独立董事专门会议资格审查，提名人与被提名人不存在利害关 系或者其他可能影响独立履职情形的密切关系。 √ 是 □ 否 二、被提名人不存在《中华人民共和国公司法》第一百七十八条等规定不 得担任公司董事的情形。 四 ...

上海百润投资控股集团股份有限公司 独立董事候选人关于参加独立董事培训 特此承诺。 并取得独立董事资格的承诺函 承诺人：陈伟权 2024 年 8 月 20 日 上海百润投资控股集团股份股份有限公司（以下简称"百润股份"）第五届董 事会第十八次会议决议，本人陈伟权被提名为百润股份第六届董事会独立董事候 选人。截至百润股份 2024 年第一次临时股东大会会议通知发出之日，本人尚未 取得深圳证券交易所认可的独立董事资格。 为了规范地履行独立董事职责，本人承诺如下：本人已报名参加深圳证券交 易所"上市公司独立董事任前培训"，并承诺取得深圳证券交易所认可的独立董 事资格。 ...

Investment Rating - The investment rating for the company is "Outperform the Market" [4][7]. Core Views - The company experienced a revenue decline in the second quarter, with a year-on-year decrease of 7.25%, while profitability improved on a quarter-on-quarter basis [1][5]. - The company is focusing on enhancing its product matrix in the pre-mixed cocktail segment and is optimistic about the growth potential of its liquor business [6][7]. Financial Performance Summary - For the first half of 2024, the company reported total revenue of 1.628 billion yuan, a year-on-year decrease of 1.38%, and a net profit attributable to shareholders of 402 million yuan, down 8.36% [1][5]. - In the second quarter of 2024, total revenue was 826 million yuan, a decline of 7.25%, with a net profit of 233 million yuan, down 7.28% [1][5]. - The gross margin for the first half of 2024 was 70.1%, an increase of 4.2 percentage points year-on-year, primarily due to product structure optimization and reduced commercial discounts [6][7]. Business Segment Analysis - The pre-mixed cocktail segment generated revenue of 1.431 billion yuan in the first half of 2024, a decrease of 1.4% year-on-year, with sales volume down 8.7% due to weak consumer demand [1][5]. - The company is expanding its product offerings in the pre-mixed cocktail segment to cater to a broader consumer base and different consumption scenarios [6][7]. - The liquor business is expected to become a new growth driver, with plans for new whiskey products to be launched in the fourth quarter of 2024 [6][7]. Profit Forecast and Investment Recommendations - The revenue forecast for 2024-2026 has been adjusted to 3.309 billion yuan, 3.592 billion yuan, and 3.903 billion yuan, respectively, reflecting slower growth in the context of a weak economic recovery [7][8]. - The net profit forecast for the same period is adjusted to 818 million yuan, 904 million yuan, and 1.007 billion yuan, respectively [7][8]. - The company maintains a strong competitive position in the pre-mixed cocktail market, with significant growth potential in the medium to long term, hence the "Outperform the Market" rating is upheld [7].

债券代码：127046 债券简称：百润转债 证券代码：002568 证券简称：百润股份 公告编号：2024-049 上海百润投资控股集团股份有限公司 关于 2021 年限制性股票激励计划首次授予部分限制 性股票第一个解除限售期解除限售股份上市流通的 提示性公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 特别提示： 1．公司 2021 年限制性股票激励计划首次授予部分第一个解除限售期符合解 除限售条件的激励对象共计 158 人，可解除限售的限制性股票数量 705,600 股 （对应转增前 504,000 股），占公司目前总股本 1,049,368,955 股的 0.0672%； 2．公司 2021 年限制性股票激励计划首次授予部分限制性股票第一个解除限 售期解除限售股份上市流通日期为：2024 年 8 月 9 日。 上海百润投资控股集团股份有限公司（以下简称"公司"） 于 2024 年 4 月 24 日召开第五届董事会第十五次会议和第五届监事会第十三次会议，审议通过了 《关于 2021 年限制性股票激励计划首次授予部分限制性股票第一个解除限售期 解除限售条 ...

债券代码：127046 债券简称：百润转债 证券代码：002568 证券简称：百润股份 公告编号：2024-048 上海百润投资控股集团股份有限公司 关于股东股份质押变动的公告 3．股东股份累计质押的情况 二、其他说明 公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假记 载、误导性陈述或重大遗漏。 上海百润投资控股集团股份有限公司（以下简称"公司"）近日收到控股股 东、实际控制人刘晓东先生和持股 5%以上的股东柳海彬先生的股份质押变动通 知，其所持有的公司股份质押情况如下： 一、股东股份质押情况 | 股东 | 是否为控 股股东或 第一大股 | 本次质押 | 占其所 持股份 | 占公司 总股本 | 是否为 限售股 （如是， | 是否 为补 | 质押 | 质押到期日 | 质权人 | 质押 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 名称 | | 数量(股) | | | | 充质 | 起始日 | | | 用途 | | | 东及其一 | | 比例 | 比例 | 注明限 | 押 | | | | | | | ...

Investment Rating - The report maintains a "Buy" rating for the company [4] Core Insights - The company reported a revenue of 1.628 billion yuan for the first half of 2024, a year-on-year decrease of 1.38%, and a net profit attributable to the parent company of 402 million yuan, down 8.36% year-on-year [2][3] - The pre-mixed cocktail segment faced growth pressure, while offline channels showed resilience, with offline retail revenue increasing by 7.03% year-on-year [3] - The gross margin for the pre-mixed cocktail business improved by 3.95% year-on-year, reaching 70.56% in the first half of 2024, attributed to cost reductions and product structure enhancements [3] - The company expects revenue growth for 2024-2026 to be 3.90%, 11.70%, and 11.51% respectively, with net profits projected at 848 million yuan, 954 million yuan, and 1.079 billion yuan [4] Financial Performance Summary - Revenue for 2022 was 2.593 billion yuan, with a growth rate of -0.04%, and net profit was 521 million yuan, down 21.74% [4] - The company forecasts revenue of 3.391 billion yuan for 2024, with a net profit of 848 million yuan, translating to an EPS of 0.81 yuan [4] - The gross margin is expected to reach 69.95% in 2024, with a net profit margin of 24.92% [8]

Investment Rating - The report maintains a "Buy" rating for the company with a target price of 19.75, compared to the last closing price of 16.21 [1]. Core Views - The company experienced short-term revenue pressure, with a focus on new product launches to drive growth. The first half of 2024 saw revenue of 1.628 billion, a year-on-year decrease of 1.38%, and a net profit attributable to shareholders of 402 million, down 8.36% year-on-year [2][4]. - The report highlights that the company's pre-mixed beverage revenue was 1.431 billion, down 1.42% year-on-year, with a significant decline in online channel revenue [2][5]. - The company is expected to see improved performance in the second half of the year as the pressure from high base effects eases, and new product launches are anticipated to contribute positively to sales [2][5]. Summary by Sections Financial Performance - For the first half of 2024, the company reported a revenue of 1.628 billion, a decrease of 1.38% year-on-year, and a net profit of 402 million, down 8.36% year-on-year. The second quarter alone saw a revenue of 826 million, down 7.25% year-on-year, but net profit increased by 7.28% [2][4]. - The gross margin for the first half of 2024 was 70.08%, an increase of 4.19 percentage points year-on-year, attributed to lower raw material costs and price increases [2][5]. Future Projections - The report projects revenues for 2024, 2025, and 2026 to be 3.386 billion, 3.732 billion, and 4.170 billion respectively, with corresponding net profits of 834 million, 927 million, and 1.044 billion [4][5]. - The expected earnings per share (EPS) for the same years are 0.79, 0.88, and 0.99, with price-to-earnings (PE) ratios of 22, 20, and 18 respectively [4][5]. Product Strategy - The company is focusing on new product launches, including a new whiskey product expected by the end of the year, which is anticipated to open up long-term growth opportunities [2][5]. - The report emphasizes the importance of the "清爽" product line in penetrating the beer market and targeting consumers aged 25 and above [2][5].

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Insights - The company reported a revenue of 1.628 billion yuan for H1 2024, a year-on-year decrease of 1.38%, and a net profit attributable to shareholders of 402 million yuan, down 8.36% year-on-year [4] - The second quarter of 2024 saw a revenue of 826 million yuan, a decrease of 7.25% year-on-year, with a net profit of 233 million yuan, down 7.28% year-on-year [4] - The company expects revenue growth of 1.7%, 13.3%, and 13.6% for the years 2024, 2025, and 2026, respectively, with net profit projections of 800 million yuan, 910 million yuan, and 1.07 billion yuan for the same years [4] Financial Performance Summary - For H1 2024, the company achieved a gross margin of 71.8%, an increase of 5.5 percentage points year-on-year [4] - The company’s revenue from pre-mixed drinks declined by 8.3% in Q2 2024, while other business segments saw a growth of 0.3% [4] - The company’s offline, digital retail, and ready-to-drink channels generated revenues of 1.43 billion yuan, 160 million yuan, and 20 million yuan, respectively, with year-on-year changes of +7.0%, -35.7%, and -42.7% [4] - The company’s net profit margin for H1 2024 was 28.2%, a slight decrease of 0.01 percentage points year-on-year [4] Future Projections - The company is projected to achieve revenues of 3.32 billion yuan in 2024, 3.76 billion yuan in 2025, and 4.27 billion yuan in 2026, with corresponding net profits of 796 million yuan, 912 million yuan, and 1.074 billion yuan [5] - The current stock price corresponds to a price-to-earnings ratio of 23 times [4]