证券代码：002570 证券简称：贝因美 公告编号：2025-071 贝因美股份有限公司 关于计提减值准备及核销资产的公告 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。 贝因美股份有限公司（以下简称"公司"）于2025年10月28日召开第九届董事 会第十三次会议，审议通过了《关于计提减值准备及核销资产的议案》。现将具体 情况公告如下： 一、本次计提减值准备情况概述 根据《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》《企业会计准则》《会计监管风险提示第8号 ——商誉减值》和公司计提减值准备的有关规定，为更加真实、准确地反映公司截 至2025年9月30日的财务状况、资产价值及经营成果，基于谨慎性原则，公司对合 并报表中相关资产价值出现的减值迹象进行了检查和减值测试。 二、本次资产减值准备计提情况 （一）本次资产减值准备计提总体情况 公司本次计提减值准备的资产项目主要包括应收账款坏账准备、其他应收款坏 账准备、存货跌价准备、其他非流动资产减值准备等。2025年7-9月共计提各项减值 准备14,969,563.1 ...

证券代码：002570 证券简称：贝因美 公告编号：2025-070 贝因美股份有限公司 表决结果：同意 8 票，反对 0 票，弃权 0 票。 第九届董事会第十三次会议决议公告 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 10 月 23 日以通讯方式发出。 2、本次董事会于 2025 年 10 月 28 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 1、审议通过了《关于计提减值准备及核销资产的议案》。 本议案已经董事会审计委员会 2025 年第五次会议审议通过。议案具体内容 详见公司同日披露于指定信息披露媒体及巨潮资讯网（http://www.cninfo.com.cn） 上的《关于计提减值准备及核销 ...

Financial Performance - Q3 2025 revenue reached ¥677,632,287.83, a 1.17% increase year-over-year, while year-to-date revenue decreased by 2.59% to ¥2,032,631,799.37[4] - Net profit attributable to shareholders was ¥32,258,157.04, up 59.25% year-over-year, and year-to-date net profit increased by 48.07% to ¥106,305,278.90[4] - The basic earnings per share rose to ¥0.03, a 50% increase compared to the same period last year, with diluted earnings per share also at ¥0.03[4] - The company's net profit for the current period is 114,189,094.68 CNY, an increase of 46.9% compared to 77,634,294.92 CNY in the previous period[36] - Operating profit reached 127,037,095.35 CNY, up from 96,473,870.30 CNY, reflecting a growth of 31.6%[36] - The company reported a total comprehensive income of 113,007,422.27 CNY, compared to 77,098,306.89 CNY in the previous period, indicating a growth of 46.5%[37] - Basic and diluted earnings per share increased to 0.10 CNY, up from 0.07 CNY, representing a growth of 42.9%[38] Assets and Liabilities - Total assets at the end of the reporting period were ¥4,039,237,281.45, a slight decrease of 0.06% from the end of the previous year[5] - The company's total assets amounted to 4,039,237,281.45 CNY, a slight decrease from 4,041,710,691.26 CNY at the beginning of the period[32] - The company's total liabilities decreased from 2,418,163,381.89 CNY to 2,259,584,702.19 CNY during the reporting period[33] - Owner's equity attributable to shareholders increased by 9.86% to ¥1,720,116,450.06 compared to the end of the previous year[5] - The company's equity attributable to shareholders increased from 1,565,669,995.95 CNY to 1,720,116,450.06 CNY during the reporting period[33] Cash Flow - Net cash flow from operating activities decreased by 68.67% year-over-year, down by ¥225,419,500, primarily due to reduced sales collections[20] - The net cash flow from financing activities increased by 132.32% compared to the same period last year, with an absolute increase of 403.465 million yuan, as the increase in cash inflow outpaced the increase in cash outflow[22] - Cash inflow from financing activities increased by 137.43% compared to the same period last year, with an absolute increase of 789.5218 million yuan, mainly due to increased bank loans and recovered pledged time deposits[21] - The net increase in cash and cash equivalents grew by 1341.77% compared to the same period last year, with an absolute increase of 177.1524 million yuan, driven by higher net cash from operating and financing activities[22] - Cash and cash equivalents at the end of the period increased to 1,244,553,723.34 CNY from 814,416,137.20 CNY, a rise of 52.7%[39] Research and Development - R&D expenses grew by 53.22% year-over-year, totaling an increase of ¥6,029,200[16] - Research and development expenses increased to 17,357,367.97 CNY, up 53.8% from 11,328,135.89 CNY, indicating a focus on innovation[36] Investments and Acquisitions - The company has established a joint investment in Heilongjiang Xiaoyang Lanlan Nutrition Food Co., Ltd., with a 10% stake in Heilongjiang Anjia Dairy Co., Ltd. after a series of equity transfers[27] - The company has invested 50,000 CNY (5% of registered capital) in the establishment of Xinjiang Tianshan Xiaobei Food Sales Co., Ltd., alongside Xinjiang Tianshan Yunmu Dairy Co., Ltd., which contributed 950,000 CNY (95% of registered capital)[28] - The company acquired a 10% stake in Xi'an Annuo Dairy Co., Ltd. for 3 million CNY, completing the transaction on December 13, 2024[28] Shareholder Information - The total number of common shareholders at the end of the reporting period was 147,904[24] - The largest shareholder, Zhejiang Xiaobei Demei Holdings, holds 12.28% of shares, amounting to 132,629,471 shares, with a significant portion pledged[24] Operational Efficiency - Total operating costs for the current period were 1,903,805,862.41 CNY, compared to 1,980,962,807.31 CNY in the previous period, indicating a reduction of about 3.9%[35] - The company's inventory decreased from 407,883,495.18 CNY to 396,346,505.80 CNY, reflecting a reduction of approximately 2.5%[31] - The company's financial expenses decreased significantly to 11,099,640.62 CNY from 24,170,906.05 CNY, a reduction of 54.0%[36] - The company's total revenue for the current period was 2,032,631,799.37 CNY, down from 2,086,761,284.80 CNY in the previous period, representing a decrease of approximately 2.6%[35]

Core Insights - The beverage and dairy sector experienced a slight decline of 0.15% on October 23, with Yangyuan Beverage leading the drop [1] - The Shanghai Composite Index closed at 3922.41, up 0.22%, while the Shenzhen Component Index closed at 13025.45, also up 0.22% [1] Sector Performance - The beverage and dairy sector saw mixed performances among individual stocks, with notable gainers including Xiangpiaopiao (+3.98%), Sunshine Dairy (+2.56%), and Tianrun Dairy (+1.76%) [1] - Conversely, Qiaoyuan Beverage led the declines with a drop of 5.62%, followed by Beimei (-0.62%) and Zhuangyuan Pasture (-0.37%) [2] Trading Volume and Capital Flow - The total trading volume for the beverage and dairy sector was significant, with Xiangpiaopiao recording a volume of 111,300 hands and a transaction value of 153 million yuan [1] - The sector experienced a net outflow of 130 million yuan from major funds, while retail investors contributed a net inflow of 205 million yuan [2] Individual Stock Capital Flow - Xiangpiaopiao had a net inflow of 29.48 million yuan from major funds, while it faced a net outflow of 10.78 million yuan from speculative funds [3] - East Peng Beverage saw a net inflow of 17.87 million yuan from major funds but a net outflow of 27.91 million yuan from speculative funds [3]

Core Viewpoint - Beiyinmei's stock performance shows a slight increase, with significant trading activity and notable changes in financing and shareholder structure [1][2] Group 1: Stock Performance and Trading Activity - On October 17, Beiyinmei's stock rose by 0.32%, with a trading volume of 313 million yuan [1] - The financing buy-in amount for Beiyinmei on the same day was 40.03 million yuan, while the financing repayment was 41.59 million yuan, resulting in a net financing outflow of 1.56 million yuan [1] - As of October 17, the total financing and securities lending balance for Beiyinmei was 347 million yuan, which accounts for 5.08% of its market capitalization [1] Group 2: Financial Performance - For the first half of 2025, Beiyinmei reported a revenue of 1.355 billion yuan, reflecting a year-on-year decrease of 4.37% [2] - The net profit attributable to shareholders for the same period was 74.05 million yuan, showing a year-on-year increase of 43.68% [2] - Cumulative cash dividends since the A-share listing amount to 961 million yuan, with no dividends paid in the last three years [2] Group 3: Shareholder Structure - As of June 30, 2025, the number of Beiyinmei's shareholders increased to 143,300, a rise of 26.40% compared to the previous period [2] - The average number of circulating shares per shareholder decreased by 20.89% to 7,538 shares [2] - Notable new institutional shareholders include Hong Kong Central Clearing Limited and Tianhong Zhongzheng Food and Beverage ETF, holding 4.82 million shares and 3.75 million shares, respectively [2]

Core Insights - Beiyinmei's stock price increased by 52.97% year-to-date, with a recent trading price of 6.44 CNY per share and a market capitalization of 6.955 billion CNY [1][2] Financial Performance - For the first half of 2025, Beiyinmei reported a revenue of 1.355 billion CNY, a year-on-year decrease of 4.37%, while the net profit attributable to shareholders was 74.047 million CNY, reflecting a year-on-year increase of 43.68% [2] - The company has not distributed any dividends in the past three years, with a total payout of 9.61 billion CNY since its A-share listing [3] Shareholder Information - As of June 30, 2025, Beiyinmei had 143,300 shareholders, an increase of 26.40% from the previous period, with an average of 7,538 circulating shares per shareholder, a decrease of 20.89% [2] - The top ten circulating shareholders include new entrants such as Hong Kong Central Clearing Limited and Tianhong Zhongzheng Food and Beverage ETF, holding 4.8207 million shares and 3.7496 million shares, respectively [3] Market Activity - Beiyinmei's stock has appeared on the "Dragon and Tiger List" 24 times this year, with the most recent appearance on August 7, where it recorded a net purchase of 17.7676 million CNY [2]

Market Overview - The Shanghai Composite Index rose by 0.10% on October 16, with seven sectors experiencing gains, led by coal and banking, which increased by 2.35% and 1.35% respectively [1] - The food and beverage sector ranked third in terms of daily gains [1] - The steel and non-ferrous metals sectors saw the largest declines, with decreases of 2.14% and 2.06% respectively [1] Capital Flow Analysis - The net outflow of capital from the two markets reached 54.29 billion yuan, with five sectors experiencing net inflows [1] - The banking sector had the highest net inflow, amounting to 939 million yuan, contributing to its 1.35% increase [1] - The telecommunications sector followed with a daily increase of 0.74% and a net inflow of 895 million yuan [1] - A total of 26 sectors experienced net capital outflows, with the non-ferrous metals sector leading with a net outflow of 9.24 billion yuan, followed by the electronics sector with a net outflow of 7.40 billion yuan [1] Food and Beverage Sector Performance - The food and beverage sector increased by 0.97% with a total net inflow of 362 million yuan [2] - Out of 124 stocks in this sector, 42 stocks rose, including one that hit the daily limit, while 79 stocks declined [2] - The top three stocks with the highest net inflows were Kweichow Moutai (4.81 billion yuan), Gujing Gongjiu (856.26 million yuan), and Wuliangye (852.26 million yuan) [2] - The sector also had 17 stocks with net outflows exceeding 10 million yuan, with the largest outflows from Beiningmei (50.08 million yuan), Qingdao Beer (40.81 million yuan), and Shuanghui Development (32.34 million yuan) [2][4] Food and Beverage Sector Capital Inflow Rankings - Kweichow Moutai: +1.57%, turnover rate 0.37%, net inflow 481.21 million yuan [2] - Gujing Gongjiu: +2.56%, turnover rate 0.80%, net inflow 85.63 million yuan [2] - Wuliangye: +0.55%, turnover rate 0.51%, net inflow 85.23 million yuan [2] Food and Beverage Sector Capital Outflow Rankings - Beiningmei: -2.77%, turnover rate 4.46%, net outflow -50.08 million yuan [4] - Qingdao Beer: +0.03%, turnover rate 0.71%, net outflow -40.81 million yuan [4] - Shuanghui Development: +0.99%, turnover rate 0.31%, net outflow -32.34 million yuan [4]

Core Insights - The beverage and dairy sector experienced a slight increase of 0.32% on October 16, with Dongpeng Beverage leading the gains [1] - The Shanghai Composite Index closed at 3916.23, up 0.1%, while the Shenzhen Component Index closed at 13086.41, down 0.25% [1] Sector Performance - Dongpeng Beverage (605499) closed at 297.90, with a rise of 2.07% and a trading volume of 16,700 shares, amounting to a transaction value of 496 million yuan [1] - Yili Group (600887) saw a closing price of 27.81, up 0.58%, with a trading volume of 368,500 shares and a transaction value of 1.025 billion yuan [1] - Other notable performances include Sanyuan Foods (600429) at 4.80 (+0.21%), and Bright Dairy (600597) at 8.57 (-0.12%) [1] Individual Stock Movements - The beverage and dairy sector saw significant declines in some stocks, such as Pinuo Food (300892) which fell by 4.52% to 34.87, with a trading volume of 55,100 shares and a transaction value of 195 million yuan [2] - Knight Dairy (920786) decreased by 4.40% to 10.00, with a trading volume of 106,800 shares and a transaction value of 109 million yuan [2] - Other stocks like Zhuangyuan Pasture (002910) and Yiming Food (605179) also experienced declines of 3.86% and 3.20%, respectively [2] Capital Flow Analysis - The beverage and dairy sector saw a net outflow of 179 million yuan from major funds, while retail investors contributed a net inflow of 193 million yuan [2] - The overall capital flow indicates a mixed sentiment within the sector, with institutional investors pulling back while retail investors showed interest [2]

Core Insights - The stock price of Beiyinmei has decreased by 2.00% to 6.36 CNY per share, with a total market capitalization of 6.869 billion CNY [1] - The company has seen a year-to-date stock price increase of 51.07%, but a recent decline of 7.29% over the past 20 days [1] - Beiyinmei's main business involves the research, production, and sales of infant food and milk-based nutritional products, with 89.20% of revenue coming from milk powder [1] Financial Performance - For the first half of 2025, Beiyinmei reported a revenue of 1.355 billion CNY, a year-on-year decrease of 4.37%, while net profit attributable to shareholders increased by 43.68% to 74.047 million CNY [2] - The company has not distributed any dividends in the past three years, with a total payout of 9.61 billion CNY since its A-share listing [3] Shareholder Information - As of June 30, 2025, the number of shareholders increased by 26.40% to 143,300, with an average of 7,538 shares held per shareholder, a decrease of 20.89% [2] - New significant shareholders include Hong Kong Central Clearing Limited and Tianhong Zhongzheng Food and Beverage ETF, holding 4.8207 million shares and 3.7496 million shares respectively [3]

Core Insights - The beverage and dairy sector experienced a slight increase of 0.19% on October 15, with Chengde Lulu leading the gains [1] - The Shanghai Composite Index closed at 3912.21, up 1.22%, while the Shenzhen Component Index closed at 13118.75, up 1.73% [1] Stock Performance - Chengde Lulu (000848) closed at 9.05, up 4.50%, with a trading volume of 568,100 shares and a transaction value of 509 million [1] - Miaokelan Duo (600882) closed at 27.01, up 3.73%, with a trading volume of 181,600 shares and a transaction value of 486 million [1] - Panda Dairy (300898) closed at 27.46, up 3.62%, with a trading volume of 98,300 shares and a transaction value of 274 million [1] - Other notable stocks include Yiming Food (605179) at 21.25 (+3.21%) and New Dairy (002946) at 18.10 (+2.55%) [1] Capital Flow - The beverage and dairy sector saw a net inflow of 250 million from main funds, while retail investors experienced a net outflow of 188 million [2] - Major stocks like Yili (600887) had a net inflow of 94.93 million from main funds, but a net outflow of 61.86 million from retail investors [3] - Chengde Lulu (000848) also saw a net inflow of 68.09 million from main funds, with retail investors withdrawing 31.43 million [3]