证券代码：002570 证券简称：贝因美 公告编号：2025-067 贝因美股份有限公司 关于变更董事会秘书的公告 特此公告。 贝因美股份有限公司 董事会 2025 年 9 月 16 日 附件： 1、董事会秘书简历 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。 贝因美股份有限公司（以下简称"公司""贝因美"）原董事会秘书金志强 先生因工作需要，申请辞去董事会秘书一职，其原定任期至第九届董事会届满之 日止，金志强先生的辞职自 2025 年 9 月 15 日起生效。辞职后，金志强先生仍担 任公司董事、副总经理、财务总监。金志强先生任职期间勤勉尽责，为公司的规 范运作、信息披露、资本运作等发挥了积极的作用，切实履行了董事会秘书的应 尽职责。截至本公告日，金志强先生未直接持有公司股份，其通过第五期员工持 股计划间接持有 12 万股，金志强不存在应当履行而未履行的承诺事项。公司董 事会对金志强先生任职期间所做的工作表示衷心的感谢！ 公司于 2025 年 9 月 15 日召开第九届董事会第十二次会议，审议通过了《关 于聘任公司董事会秘书的议案》。根据《公司章程》及相关规 ...

贝因美股份有限公司第六期员工持股计划 贝因美股份有限公司 第六期员工持股计划 2025 年 9 月 1 贝因美股份有限公司第六期员工持股计划 声明 本公司及董事会全体成员保证本员工持股计划内容真实、准确和完整，不存 在虚假记载、误导性陈述或重大遗漏。 本方案主要条款与公司 2025 年 9 月 5 日披露的《贝因美股份有限公司第六 期员工持股计划（草案）》及其摘要内容一致。 2 贝因美股份有限公司第六期员工持股计划 风险提示 1、贝因美股份有限公司（以下简称"公司"）第六期员工持股计划设立后将 由公司自行管理，但能否达到计划规模、目标存在不确定性。 2、有关本员工持股计划具体的资金来源、出资金额、实施方案等属初步结 果，能否完成实施，存在不确定性。 3、若员工认购资金较低时，本员工持股计划存在无法成立的风险。 4、股票价格受公司经营业绩、宏观经济周期、国际/国内政治经济形势及投 资者心理等多种复杂因素影响。因此，股票交易是有一定风险的投资活动，投资 者对此应有充分准备。 5、敬请广大投资者谨慎决策，注意投资风险。 3 贝因美股份有限公司第六期员工持股计划 特别提示 本部分内容中的词语简称与"释义"部分保持一致 ...

证券代码：002570 证券简称：贝因美 公告编号：2025-064 贝因美股份有限公司 2025年第二次临时股东大会决议公告 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、贝因美股份有限公司（以下简称"公司"）于2025年8月29日、2025年9 月5日在《证券时报》《上海证券报》和巨潮资讯网（www.cninfo.com.cn）上分 别披露了《关于召开2025年第二次临时股东大会的通知》（公告编号：2025-055） 和《关于2025年第二次临时股东大会增加临时提案暨股东大会补充通知的公告》 （公告编号：2025-062）； 2、本次股东大会无变更、否决提案的情况； 一、会议召开和出席情况 （一）会议召开情况 1、公司 2025 年第二次临时股东大会会议通知及补充通知分别于 2025 年 8 月 29 日、2025 年 9 月 5 日以公告形式发出，本次会议采用现场投票和网络投票 相结合的方式召开。 2、会议召开的日期和时间 （1）现场会议时间：2025 年 9 月 15 日（周一）14:30。 （2）网络投票时间：2025 年 9 月 ...

证券代码：002570 证券简称：贝因美 公告编号：2025-066 贝因美股份有限公司 第九届董事会第十二次会议决议公告 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。 一、董事会会议召开情况 1、本次董事会由贝因美股份有限公司（以下简称"公司"）董事长谢宏先 生召集和主持，会议通知于 2025 年 9 月 11 日以通讯方式发出。 2、本次董事会于 2025 年 9 月 15 日召开，采用现场、通讯相结合的方式召 开、表决。 3、本次董事会应出席董事 8 人，实际参与表决董事 8 人。公司部分高级管 理人员列席了会议。 4、本次董事会会议的召集、召开和表决程序符合《公司法》等法律、法规 和《公司章程》的有关规定，合法有效。 二、董事会会议审议情况 2、审议通过了《关于选举审计委员会成员及推选召集人的议案》。 根据《公司法》和《公司章程》的有关规定，公司董事会下设审计委员会， 董事会同意选举俞春萍、胡军辉、李晓京（简历附后）为公司第九届董事会审计 委员会成员，其中俞春萍为审计委员会召集人且为会计专业人士。公司第九届董 事会审计委员会中独立董事占多数，并由作为 ...

Company Updates - The former board secretary of Beiyinmei, Mr. Jin Zhiqiang, has resigned from his position due to work requirements, while still holding roles as a director, deputy general manager, and financial director [1] - Mr. Fang Luyao, the deputy general manager, has been appointed as the new board secretary following the nomination by the chairman and approval by the board's nomination committee [1] Financial Performance - Beiyinmei's revenue composition for the year 2024 is entirely from the infant and child industry, accounting for 100.0% [1] - The current market capitalization of Beiyinmei is 7.2 billion yuan [2]

上海东方华银律师事务所 关于贝因美股份有限公司 2025年第二次临时股东大会的法律意见书 致：贝因美股份有限公司 上海东方华银律师事务所（以下简称"本所"）接受贝因美股份有限公司（以 下简称"贵司"或"公司"、"上市公司"）委托，就贵司召开2025年第二次临时 股东大会的有关事宜，根据《中华人民共和国公司法》《上市公司股东会规则》等 法律、法规和其他规范性文件以及《贝因美股份有限公司章程》（以下简称"《公 司章程》"）的有关规定，出具本法律意见书。 为出具本法律意见书，本所律师审查了公司提供的本次股东大会的相关资料， 包括但不限于公司召开2025年第二次临时股东大会的通知、公司2025年第二次临时 股东大会的议程、议案及决议等文件资料。公司已向本所作出保证和承诺，保证公 司向本所提供的资料和文件均为真实、准确、完整，无重大遗漏。 本所律师仅就本法律意见书出具日以前所发生的事实以及本所律师对有关法律 法规的理解发表法律意见。 本法律意见书仅供公司为本次股东大会之目的使用，不得用于其他任何目的。 本所同意本法律意见书作为公司本次股东大会公告材料，随其他资料一起向社会公 众披露，并依法承担相关的法律责任。 本所律师 ...

Market Overview - The beverage and dairy sector experienced a decline of 1.06% on September 15, with Huanlejia leading the drop [1] - The Shanghai Composite Index closed at 3860.5, down 0.26%, while the Shenzhen Component Index closed at 13005.77, up 0.63% [1] Stock Performance - Key stocks in the beverage and dairy sector showed varied performance, with the following notable movements: - Huangshi Group (002329) rose by 1.55% to close at 3.93, with a trading volume of 298,800 shares and a turnover of 116 million yuan [1] - Huanlejia (300997) fell by 4.83% to close at 19.51, with a trading volume of 151,700 shares and a turnover of 300 million yuan [2] - Yili Group (600887) saw a slight decrease of 0.07%, closing at 28.23, with a trading volume of 591,300 shares and a turnover of 1.673 billion yuan [1] Capital Flow - The beverage and dairy sector experienced a net outflow of 405 million yuan from institutional investors, while retail investors saw a net inflow of 375 million yuan [2] - The following stocks had significant capital flow: - Huangshi Group had a net inflow of 15.88 million yuan from institutional investors, but a net outflow from retail investors [3] - Xibu Muye (300106) had a net inflow of 11.18 million yuan from institutional investors, with a net outflow from retail investors [3]

Core Insights - The total revenue of 19 dairy companies in A-shares reached 96.559 billion yuan in the first half of 2025, with a year-on-year growth of 2.06%, while the net profit attributable to shareholders was 8.326 billion yuan, down 3.11% year-on-year [1][8]. Revenue Performance - Leading companies by revenue include Yili Group with 61.933 billion yuan, Bright Dairy with 12.472 billion yuan, and New Dairy with 5.526 billion yuan [4][8]. - Knight Dairy and Jiahe Food reported revenue growth exceeding 10% [1][4]. Profitability Analysis - Yili Group achieved a net profit of 7.2 billion yuan, significantly higher than other companies, while four companies, including Western Pastoral, reported losses [6][8]. - The average gross margin for the 19 dairy companies was approximately 25.34%, with a median of 26.17%, both showing a slight decline year-on-year [1][8]. Gross Margin Insights - The highest gross margin was recorded by Beingmate at 45.27%, followed by Sunshine Dairy, Yili Group, and Junyao Health, all exceeding 32% [1][8]. - Companies like Knight Dairy, Jiahe Food, and Western Pastoral had gross margins below 15% [8][12].

Group 1 - The dairy sector experienced a decline of 1.12%, ranking among the top losers in the concept sector, with companies like Pinwa Food, Junyao Health, and Happy Home seeing significant drops [1][2] - Among the dairy stocks, five companies saw price increases, with Yiatong leading at a rise of 3.74%, followed by *ST Tianshan at 1.10% and Dabeinong at 0.47% [1][2] - The dairy sector faced a net outflow of 631 million yuan from main funds, with 23 stocks experiencing outflows, and nine stocks seeing outflows exceeding 10 million yuan [2][3] Group 2 - The top net outflow was from Yili Group, with a net outflow of 449 million yuan, followed by Beiyinmei with 56 million yuan and Dabeinong with 33 million yuan [2][3] - Conversely, the stocks with the highest net inflow included Yiatong, Wanchen Group, and Tianrun Dairy, with net inflows of 37 million yuan, 17 million yuan, and 4.5 million yuan respectively [2][3] - The trading volume for Yili Group was 1.25%, while Beiyinmei had a turnover rate of 5.90%, indicating varying levels of investor interest [3]

Core Viewpoint - Beiningmei (002570.SZ) has filed a lawsuit against its former partner, Zhejiang Keluobao Food Co., Ltd., claiming trademark infringement and unfair competition, seeking compensation of 72.01 million yuan, which raises concerns about the company's financial health and operational challenges [1][2]. Financial Performance - In the first half of the year, Beiningmei reported a 43% year-on-year increase in net profit attributable to shareholders, but its operating cash flow plummeted by 60%, and accounts receivable are four times the profit [1][2]. - The company's revenue decreased by 4.37% year-on-year, with a more significant decline of 9.94% in the second quarter, indicating a reliance on external factors for profit rather than internal growth [3][6]. - The gross profit margin improved to 45.3%, primarily due to a decrease in raw material prices, but this benefit was offset by increased sales expenses, which rose by 3.37 percentage points to 29.48% [6][8]. Legal Disputes - The conflict between Beiningmei and Keluobao began in 2021 over the "Xiao Beitai" trademark, with accusations of unauthorized expansion of product categories and supply chain disruptions [1][2]. - Keluobao previously sued Beiningmei for 185 million yuan over false advertising and supply chain issues, indicating a prolonged legal battle between the two companies [3]. Market Impact - The lawsuit has created a trust crisis and potential market disruption, as Keluobao is linked to over 200 mother-and-baby chain stores, affecting the sales of "Xiao Beitai" products [2][3]. - Sales personnel are hesitant to recommend "Xiao Beitai" products due to the ongoing legal disputes, which could further impact sales performance [3]. Strategic Transition - Beiningmei's strategic shift towards a "mother-and-baby ecosystem + family health" model is still in the planning stage, with no revenue generated from new business lines as of June [9][10]. - The company's milk powder business still accounts for 89.2% of its revenue, highlighting challenges in diversifying its product offerings [10]. Financial Health - The company's operating cash flow decreased by 59.9% to 80.81 million yuan, primarily due to inventory growth, raising concerns about cash flow management [11][12]. - Beiningmei's accounts receivable reached 316 million yuan, with a significant portion being overdue, indicating potential cash flow issues if collections do not improve [11][14]. - The company continues to face a "high debt, high inventory" situation, with short-term borrowings nearing 1 billion yuan, which could lead to liquidity challenges if credit conditions tighten [14][15].