Core Viewpoint - The article emphasizes Beiyinmei's commitment to quality and trust in the Chinese maternal and infant industry, showcasing its brand philosophy through the brand film "Authentic and Loving" aired on CCTV-1 [1][7]. Group 1: Brand Philosophy - Beiyinmei defines "authenticity" as a rigorous commitment to quality and a responsibility towards Chinese families, rather than just a marketing slogan [1]. - The brand employs a verifiable management and technology system, including a digital triple quality control system (MES-WMS-ERP linkage) to monitor production data in real-time [1]. - The company has established a scientific formula model based on over a thousand breast milk samples, ensuring product quality from the source [1]. Group 2: Business Strategy - Beiyinmei has adopted a challenging business proposition of "only earning 5%", prioritizing long-term value and trust over short-term profits [3]. - This strategy reflects a shift from focusing on market share to building deeper trust with consumers, positioning the brand as a reliable resource in an uncertain consumer environment [3]. - The company aims to redefine growth as the accumulation of trust rather than mere financial gain [3]. Group 3: Product and Service Integration - The transition from milk powder to diapers signifies an extension of responsibility, aiming to provide a sustainable and reassuring experience for consumers [5]. - Beiyinmei integrates traceability systems and testing capabilities with service operations, creating a new logic of "product as service" [5]. - This shift indicates a broader evolution in Chinese manufacturing, moving from a production-centric model to one focused on user relationships and ongoing support [5]. Group 4: Industry Evolution - Beiyinmei's development mirrors the transformation of the Chinese maternal and infant industry, reflecting a journey from product scarcity to market prosperity and from price competition to quality competition [7]. - The brand's approach addresses global supply chain fluctuations and market trust reconstruction by emphasizing real products and transparent systems [7]. - The essence of a "great national brand" lies not in scale but in maintaining authenticity over the long term, as demonstrated by Beiyinmei's commitment to its core values [7].

Core Insights - The stock price of Beiyinmei has increased by 55.34% year-to-date, with a recent rise of 6.00% over the last five trading days [2] - The company has a market capitalization of 70.63 billion yuan and reported a net inflow of 515.88 million yuan in main funds [1] Financial Performance - For the first half of 2025, Beiyinmei achieved operating revenue of 1.355 billion yuan, a year-on-year decrease of 4.37%, while net profit attributable to shareholders increased by 43.68% to 74.05 million yuan [2] - The company has cumulatively distributed 9.61 billion yuan in dividends since its A-share listing, with no dividends paid in the last three years [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 circulating shares per person, a decrease of 20.89% [2] - New significant shareholders include Hong Kong Central Clearing Limited and Tianhong Zhongzheng Food and Beverage ETF, holding 4.82 million and 3.75 million shares respectively [3] Market Activity - Beiyinmei has appeared on the trading leaderboard 24 times this year, with the most recent appearance on August 7, where it recorded a net purchase of 17.77 million yuan [2] - The company’s main business revenue composition includes 89.20% from milk powder, 4.69% from other supplements, 3.54% from rice flour, and 1.71% from supplies [2]

Group 1 - On October 9, Beiningmei's stock rose by 1.13%, with a trading volume of 271 million yuan [1] - The financing data shows that on the same day, Beiningmei had a financing purchase amount of 26.03 million yuan and a net financing purchase of 1.75 million yuan, with a total financing and margin balance of 319 million yuan [1] - The financing balance of Beiningmei accounts for 4.73% of its circulating market value, which is below the 50th percentile level over the past year, indicating a low financing level [1] Group 2 - As of June 30, the number of Beiningmei shareholders increased to 143,300, a rise of 26.40%, while the average circulating shares per person decreased by 20.89% to 7,538 shares [2] - For the first half of 2025, Beiningmei reported operating revenue of 1.355 billion yuan, a year-on-year decrease of 4.37%, while the net profit attributable to the parent company was 74.05 million yuan, an increase of 43.68% [2] - Since its A-share listing, Beiningmei has distributed a total of 961 million yuan in dividends, with no dividends paid in the last three years [2]

Core Viewpoint - On October 9, Beiningmei (002570) announced that as of September 30, 2025, the company has repurchased a total of 5,967,454 shares through a dedicated securities account via centralized bidding, representing 0.5525% of the company's total share capital [1] Summary by Category - **Company Actions** - Beiningmei has engaged in a share repurchase program, acquiring 5,967,454 shares [1] - The repurchased shares account for 0.5525% of the total share capital [1]

Group 1 - The company Beiningmei (002570.SZ) announced a share buyback program, having repurchased a total of 5,967,454 shares, which represents 0.5525% of its total share capital [1] - The highest transaction price during the buyback was 7.21 CNY per share, while the lowest was 6.14 CNY per share [1] - The total amount spent on the share buyback reached 38,721,125.92 CNY, excluding transaction fees [1]

公司股份回购的实施符合公司回购方案及相关法律法规的要求。 证券代码：002570 证券简称：贝因美 公告编号：2025-068 贝因美股份有限公司 关于回购公司股份的进展公告 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 4 月 29 日召开的第九 届董事会第九次会议审议通过了《关于回购公司股份方案的议案》，公司拟以集 中竞价交易方式回购公司 A 股股票，用于公司未来实施的股权激励或员工持股 计划。本次回购金额不超过人民币 3 亿元（含），不低于人民币 1.5 亿元（含）， 回购价格不超过 9.06 元/股（含）。根据最高回购规模、回购价格上限测算，预 计回购股份数量为 3,311.26 万股，约占公司目前总股本的 3.07%。具体内容详见 公 司 于 2025 年 4 月 30 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《关于回购公司股份方案暨取得股票回购专项 贷款承诺函的公告》（公告编号：2025-035）。 根据 ...

证券代码：002570 证券简称：贝因美 公告编号：2025-069 贝因美股份有限公司 关于第六期员工持股计划完成非交易过户的公告 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。 贝因美股份有限公司（以下简称"公司"）分别于 2025 年 9 月 4 日召开第 九届董事会第十一次会议、2025 年 9 月 15 日召开 2025 年第二次临时股东大会， 审议通过了《关于<第六期员工持股计划（草案）>及其摘要的议案》等第六期员 工持股计划相关议案。具体内容详见公司发布的相关公告。 根据中国证监会《关于上市公司实施员工持股计划试点的指导意见》《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》等要求， 现将公司第六期员工持股计划实施进展情况公告如下： 一、第六期员工持股计划股份来源情况 公司 2022 年 8 月 26 日召开的第八届董事会第十六次会议审议通过了《关于 回购公司股份方案的议案》等相关议案。同意公司以自有资金或自筹资金采取集 中竞价交易方式以不超过 7.17 元/股的价格回购公司股份，回购金额不低于人民 币 7,500 万元（ ...

Core Insights - The beverage and dairy sector experienced a rise of 0.66% on October 9, with Zhuangyuan Pastoral leading the gains [1] - The Shanghai Composite Index closed at 3933.97, up 1.32%, while the Shenzhen Component Index closed at 13725.56, up 1.47% [1] Sector Performance - Zhuangyuan Pastoral (002910) closed at 10.86, with a significant increase of 10.03%, trading volume of 239,000 shares, and a transaction value of 254 million [1] - Qiaoyuan Beverage (603156) saw a rise of 6.18%, closing at 31.29, with a trading volume of 328,100 shares and a transaction value of 1.042 billion [1] - Panda Dairy (300898) increased by 1.79%, closing at 26.09, with a trading volume of 30,800 shares and a transaction value of 79.09 million [1] - Yili Group (600887) rose by 1.28%, closing at 27.63, with a trading volume of 711,500 shares and a transaction value of 1.94 billion [1] - Tianrun Dairy (600419) and Beingmate (002570) also showed modest increases of 1.18% and 1.13%, respectively [1] Capital Flow - The beverage and dairy sector saw a net inflow of 47.31 million from institutional investors, while retail investors experienced a net outflow of 1.09 billion [2] - The sector's overall capital flow indicates a strong interest from institutional and speculative investors, despite the outflow from retail investors [2]

Market Overview - The beverage and dairy sector increased by 0.9% on September 29, with Yangyuan Beverage leading the gains [1] - The Shanghai Composite Index closed at 3862.53, up 0.9%, while the Shenzhen Component Index closed at 13479.43, up 2.05% [1] Stock Performance - Key stocks in the beverage and dairy sector showed varied performance, with notable gainers including: - Chi Yuan Beverage (603156) at 30.30, up 7.68% with a trading volume of 446,200 shares and a turnover of 1.337 billion [1] - Dongpeng Beverage (605499) at 290.55, up 1.75% with a trading volume of 16,700 shares and a turnover of 480 million [1] - Other stocks like Zhuangyuan Pasture (002910) and Huangshi Group (002329) also saw modest increases of 1.47% and 1.13% respectively [1] Capital Flow - The beverage and dairy sector experienced a net outflow of 224 million from institutional investors, while retail investors saw a net inflow of 135 million [2] - Notable capital flows included: - Institutional net inflow for Dongpeng Beverage at 56.24 million, while retail saw a net outflow of 55.29 million [3] - Bright Dairy (600597) had a net inflow of 9.92 million from institutional investors, with retail outflows totaling 8.16 million [3]

Core Viewpoint - Beiyinmei's stock performance shows a slight increase, with significant financing activity indicating a mixed investor sentiment towards the company [1][2]. Group 1: Stock Performance and Financing - On September 24, Beiyinmei's stock rose by 0.64%, with a trading volume of 201 million yuan [1]. - The financing buy-in amount for Beiyinmei on the same day was 15.55 million yuan, while the financing repayment was 22.35 million yuan, resulting in a net financing outflow of 6.80 million yuan [1]. - As of September 24, the total financing and securities lending balance for Beiyinmei was 342 million yuan, which accounts for 5.05% of its market capitalization [1]. Group 2: Business Overview - Beiyinmei, established on April 27, 1999, and listed on April 12, 2011, is based in Hangzhou, Zhejiang Province, and specializes in the research, production, and sales of infant food and milk-based nutritional products [1]. - The company's main revenue sources are: milk powder (89.20%), other products (5.55%), rice flour (3.54%), and supplies (1.71%) [1]. Group 3: Shareholder and Financial Data - As of June 30, 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]. - For the first half of 2025, Beiyinmei reported a revenue of 1.355 billion yuan, a year-on-year decrease of 4.37%, while the net profit attributable to shareholders was 74.05 million yuan, reflecting a year-on-year increase of 43.68% [2].