Group 1 - The company announced the resignation of senior management personnel, Mr. Wu Chengyun, due to personal work relocation, effective from June 11, 2025 [1] - Mr. Wu held 269,440 shares of the company and will manage his shareholding according to relevant regulations [1] - The company stated that Mr. Wu's resignation will not have a significant impact on its daily operations and management [1] Group 2 - The board expressed sincere gratitude for Mr. Wu's contributions to the company's development during his tenure [2]

Core Viewpoint - Guangdong Yantang Dairy Industry Co., Ltd. has announced its 2024 annual profit distribution plan, which includes a cash dividend of 1.5 RMB per 10 shares, totaling 23.6025 million RMB to be distributed to shareholders [1][2]. Group 1: Dividend Distribution Details - The annual profit distribution plan was approved at the 2024 annual shareholders' meeting held on April 29, 2025 [1]. - The company will distribute a cash dividend of 1.5 RMB (including tax) for every 10 shares, based on a total share capital of 15.735 million shares, amounting to a total cash distribution of 23.6025 million RMB [1]. - There will be no capital increase from reserves or issuance of bonus shares, and any undistributed profits will be carried forward to future years [1]. Group 2: Key Dates and Methods - The record date for the dividend distribution is set for June 17, 2025, and the ex-dividend date is June 18, 2025 [2]. - The distribution will be directly credited to the shareholders' accounts through their securities companies or other custodial institutions on the ex-dividend date [2]. - Shareholders must ensure their shares are registered with the China Securities Depository and Clearing Corporation Limited by the record date to receive the dividend [2]. Group 3: Taxation and Compliance - The company will not withhold individual income tax at the time of distribution; instead, tax will be calculated based on the holding period when shares are sold [1]. - Different tax rates will apply for overseas investors and domestic investors holding fund shares, with a 10% tax rate for Hong Kong investors [1]. - The tax obligations will be calculated based on the FIFO principle for the holding period of shares [1].

Group 1 - The board of directors of Guangdong Yantang Dairy Co., Ltd. held its 22nd meeting of the 5th session on June 5, 2025, with 9 directors present, including independent directors attending via communication [1] - The board unanimously approved the nomination of Liu Shikun as the vice president of the company, effective from the date of this board meeting until the end of the current board's term [2][3] - The voting results showed 8 votes in favor, 0 against, and 1 abstention, with the nominator, Feng Like, abstaining from the vote [2] Group 2 - Liu Shikun, born in 1970, holds a Master's degree in Business Administration and has served in various managerial roles, including vice president of the company and chairman of multiple subsidiaries [2][3] - Liu Shikun does not hold any shares in the company and has no related party relationships with current directors, supervisors, or major shareholders [3] - Liu Shikun has not faced any legal issues or sanctions from regulatory bodies in the past three years, confirming his eligibility to serve as a senior management member [3]

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、高级管理人员离任情况 （一）提前离任的基本情况 证券代码：002732 证券简称：燕塘乳业 公告编号：2025-025 广东燕塘乳业股份有限公司 关于高级管理人员辞职的公告 广东燕塘乳业股份有限公司 2025 年 6 月 11 日 广东燕塘乳业股份有限公司（以下简称"公司"）董事会于 2025 年 6 月 11 日收到高级管理人员吴乘云先生的书面辞职报告，吴乘云先生因个人工作调动， 申请辞去公司副总经理职务，辞职后，吴乘云先生将不再担任公司及子公司任何 职务。吴乘云先生的原定任期至 2025 年 12 月 19 日第五届董事会任期届满。根 据《中华人民共和国公司法》《广东燕塘乳业股份有限公司章程》的有关规定， 吴乘云先生的辞职报告自送达董事会时生效。 （二）离任对公司的影响 截至本公告披露日，吴乘云先生持有公司股票 269,440 股，吴乘云先生将按 《上市公司股东减持股份管理暂行办法》《上市公司董事和高级管理人员所持本 公司股份及其变动管理规则》《深圳证券交易所上市公司自律监管指引第 18 号— —股东及董 ...

广东燕塘乳业股份有限公司 证券代码：002732 证券简称：燕塘乳业 公告编号：2025-026 广东燕塘乳业股份有限公司 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 广东燕塘乳业股份有限公司（以下简称"公司"）第五届董事会第二十二次 会议通知于 2025 年 6 月 5 日以专人送达和短信送达相结合的方式发出，会议于 2025 年 6 月 11 日下午在公司会议室现场结合通讯方式召开。公司董事共 9 人， 出席本次会议的董事共 9 人。其中，独立董事黄晓宏先生、李汴生先生以通讯方 式出席会议。公司监事、董事会秘书和纪委书记列席了本次会议。本次会议由公 司董事长兼总经理冯立科先生主持，会议的通知、召集、召开、审议、表决等程 序均符合有关法律、行政法规、部门规章、规范性文件和《广东燕塘乳业股份有 限公司章程》（以下简称"《章程》"）的规定，会议形成的决议合法、有效。 1、审议通过《关于聘任公司副总经理的议案》。 根据《公司法》及公司《章程》《总经理工作细则》等相关规定，经公司董 事会提名委员会审核，公司董事长兼总经理冯立科先生向董事会 ...

广东燕塘乳业股份有限公司 证券代码：002732 证券简称：燕塘乳业 公告编号：2025-024 广东燕塘乳业股份有限公司 2024 年年度权益分派实施公告 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。 广东燕塘乳业股份有限公司（以下简称"公司"或"本公司"）2024 年年 度权益分派方案已获 2025 年 4 月 29 日召开的 2024 年年度股东大会审议通过， 现将权益分派事宜公告如下： 一、股东大会审议通过权益分派方案情况 1 个月（含 1 个月）以内，每 10 股补缴税款 0.300000 元；持股 1 个月以上至 1 年（含 1 年）的，每 10 股补缴税款 0.150000 元；持股超过 1 年的，不需补缴税 款。] 三、股权登记日与除权除息日 1、公司于 2025 年 4 月 29 日召开的 2024 年年度股东大会，审议通过了《关 于 2024 年年度利润分配预案的议案》：公司以总股本 15,735 万股为基数，向全 体股东每 10 股派发现金红利 1.5 元（含税），共分配现金红利 2,360.25 万元（含 税）；不以公积金转增股本；不 ...

Group 1 - The ninth China Brand Boao Summit was held on May 25, focusing on high-quality economic development and brand growth in China [1] - The summit awarded the "Industry Leading Award" to 18 prominent companies, including Meituan, Xiaomi, and Pinduoduo, recognizing their innovative contributions [2] - Victory Bird Consulting, as one of the youngest companies to receive the award, introduced a new strategic methodology called "Strategic Triangle," which integrates ancient Chinese military wisdom with modern neuroscience and evolutionary biology [2][3] Group 2 - The methodology developed by Victory Bird Consulting has been highly praised for its scientific basis, with experts noting its thorough research into consumer behavior [2] - The founder of Victory Bird Consulting became the first strategic expert selected as a "China Brand Observer," highlighting the company's successful practical outcomes [3] - The summit also featured various thematic activities, including forums and exhibitions, aimed at fostering collaboration and showcasing the unique strengths of Chinese brands [4]

Core Insights - The dairy industry is experiencing a significant downturn in 2024, with 19 listed dairy companies in A-shares reporting a total revenue of 184.83 billion yuan, a year-on-year decrease of 7.44% [1] - The net profit attributable to shareholders dropped from 13.10 billion yuan to 9.58 billion yuan, with 13 companies reporting a decline in net profit [1] - Key factors suppressing the dairy industry include oversupply, weakened demand, and high inventory levels, leading to a continuous decline in fresh milk prices and intensified competition [1] Revenue and Profitability - 14 out of 19 dairy companies reported a decline in revenue, compared to only 6 the previous year [1] - The median net profit margin for listed dairy companies was only 1.98%, down 2.01 percentage points from the previous year [4] - The highest net profit margins were recorded by Sunshine Dairy (21.84%), Panda Dairy (13.32%), and Huirong Technology (10.18%) [4] Gross Margin Analysis - 12 companies experienced a decline in gross margin, with the most significant drops seen in Western Pastoral, Beingmate, and Zhuangyuan Pastoral [3] - The median gross margin for the 19 listed dairy companies was 25.31%, an increase of 2.18 percentage points from the previous year [2] - Seven companies saw an increase in gross margin, with the most notable improvements from Junyao Health, Huangshi Group, Panda Dairy, and Pinwa Food [2] Market Trends - The dairy industry index has seen a decline of over 50% from its peak in January 2021 to the low in September 2024, but there has been a noticeable increase since September 2024 [1] - The market anticipates that upstream destocking will lead to a bottoming out of raw milk prices, alongside policies promoting fertility to boost demand [1] Company-Specific Performance - Panda Dairy, a leader in the condensed milk segment, reported a revenue decline of 19.29% last year, with a further 8.27% drop in the first quarter of 2024, despite an increase in gross margin due to lower raw material costs [2] - Bright Dairy, a typical regional dairy company, has seen a decline in revenue since 2022, with a low gross margin of around 19%, significantly below that of Yili [5]

Core Viewpoint - The performance gap between national dairy companies and regional dairy companies is widening, with regional companies facing significant pressure to find new differentiation strategies in the market [1][2][3]. Group 1: Performance Trends - In 2023-2024, domestic dairy companies experienced a general decline in performance due to market demand and external factors, but signs of recovery were noted in early 2025 [2]. - Leading dairy companies like Yili achieved a revenue of 32.94 billion yuan in Q1 2025, a year-on-year increase of approximately 1.5%, with a net profit of 4.64 billion yuan, up 24.2% compared to 2024 [2]. - In contrast, regional dairy companies like Tianrun Dairy and Yantang Dairy reported declines in revenue and profits, with Tianrun's revenue dropping by 2.5% to 620 million yuan and a net loss of 73.03 million yuan [2][3]. Group 2: Competitive Landscape - Regional dairy companies are facing increased competition from national players who have expanded into the fresh milk market, which has historically been a differentiating factor for regional firms [3]. - Yili's high-end low-temperature milk revenue grew by over 30% in 2024, while Mengniu's fresh milk brand maintained double-digit growth [3]. - The overall dairy consumption in China is reaching a bottleneck, leading to intensified competition among existing players, particularly affecting regional companies [3][6]. Group 3: Differentiation Strategies - To survive, regional dairy companies must establish new differentiation strategies, as exemplified by New Dairy, which has performed better than its peers by focusing on a 24-hour fresh milk product line [4][5]. - New Dairy's revenue for 2024 was 10.67 billion yuan, with a net profit of 540 million yuan, and its 24-hour fresh milk series has seen significant growth [4][5]. - The company has also emphasized direct-to-consumer (DTC) sales, achieving 6.23 billion yuan in direct sales revenue, accounting for 58.4% of its total revenue [5]. Group 4: Future Outlook - The competitive landscape in the dairy market is expected to remain intense in 2025, with increasing market concentration [6]. - Regional dairy companies that fail to find unique brand positioning and product differentiation may face marginalization or even elimination from the market [6].

广东燕塘乳业股份有限公司 证券代码：002732 证券简称：燕塘乳业 公告编号：2025-020 广东燕塘乳业股份有限公司 2024 年年度股东大会决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 特别提示： 1、本次股东大会无变更、取消、否决议案的情况； 2、本次股东大会以现场投票与网络投票相结合的方式召开。 一、会议召开和出席情况 （一）会议召开情况 1、会议召集人：广东燕塘乳业股份有限公司（以下简称"公司"）董事会。 公司于 2025 年 3 月 28 日召开的第五届董事会第二十次会议决议召开 2024 年年 度股东大会。 2、现场会议召开时间：2025 年 4 月 29 日 14:45 起，会期半天 3、现场会议召开地点：广州市天河区燕园路 85 号（广垦天河 1 号 B 塔）22 层 3 号会议室 4、现场会议主持人：公司董事长兼总经理冯立科先生 5、会议表决方式：现场投票与网络投票相结合。其中，通过深圳证券交易 所互联网投票系统投票的时间为 2025 年 4 月 29 日 9:15-15:00；通过深圳证券 交易所交易系统进行网络投票的时间 ...