Group 1 - Longqi Technology has submitted an application for H-share issuance and listing on the Hong Kong Stock Exchange [1] - Chengdu XianDao has terminated the acquisition of approximately 65% equity in Nanjing Haina Pharmaceutical Technology Co., Ltd. due to failure to reach consensus on core terms [4] - Unigroup Guowei repurchased 775,500 shares for a total amount of 49.6173 million yuan on June 27 [5] Group 2 - Qinhuangdao State-owned Assets Supervision and Administration Commission plans to reduce its stake in Qin Port Co., Ltd. by up to 2% [2] - Magu Technology's shareholder Baolifeng intends to reduce its stake by up to 3% [3] - New Dairy's controlling shareholder plans to reduce its stake by up to 3% due to funding needs [6] Group 3 - Mindray Medical's shareholder EverUnion (H.K.) Limited plans to reduce its stake by up to 500,000 shares, representing approximately 0.41% of the total share capital [7] - Degute plans to acquire control of Haowei Technology, with trading suspended from June 30 [8]

证券代码：002946 证券简称：新乳业 公告编号：2025-036 债券代码：128142 债券简称：新乳转债 新希望乳业股份有限公司 关于控股股东减持计划的预披露公告 本公司控股股东保证向本公司提供的信息内容真实、准确、完 整，没有虚假记载、误导性陈述或重大遗漏。 本公司及董事会全体成员保证公告内容与信息披露义务人提供 的信息一致。 特别提示： 一、 本次拟减持股东的基本情况 截至本公告披露日，拟减持主体控股股东 UDL 持有公司股份 560,000,000 股（占公司总股本比例 65.07%）。 1 二、本次减持计划的主要内容 持有新希望乳业股份有限公司（以下简称"公司"、"本公司"）股份 560,000,000 股（占公司目前总股本的 65.07%）的控股股东 Universal Dairy Limited（以下简称"UDL"）计划在自本公告披露之日起 15 个交易日后的 3 个 月以内以集中竞价或大宗交易的方式减持公司股份合计不超过 25,820,305 股， 即不超过公司总股本的 3%，其中，拟以集中竞价方式减持公司股份不超过 8,606,768 股（占公司目前总股本比例 1%），以大宗交易方式减 ...

Core Viewpoint - The controlling shareholder of Universal Dairy Limited plans to reduce its stake in New Dairy (002946.SZ) by up to 3% of the company's total share capital within three months through centralized bidding or block trading [1] Summary by Relevant Categories Shareholder Actions - Universal Dairy Limited intends to sell a total of up to 25,820,305 shares, which represents no more than 3% of the company's total share capital [1]

证券代码：002946 证券简称：新乳业 公告编号：2025-035 债券代码：128142 债券简称：新乳转债 新希望乳业股份有限公司 关于股东非公开发行可交换公司债券 质押股份解除质押的公告 公司股东新希望投资集团有限公司保证向本公司提供的信息内 容真实、准确、完整，没有虚假记载、误导性陈述或重大遗漏。 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。 本次解除质押完成后，截至本公告披露日，新投集团及其一致行动人剩余 持股及质押股份情况如下： 新希望乳业股份有限公司（以下简称"本公司"或"公司"）股东新希望投 资集团有限公司（以下简称"新投集团"）发行的"新希望投资集团有限公司 2023年面向专业投资者非公开发行可交换公司债券（第一期）"于2025年6月13日 全部完成换股，可交换公司债券于2025年6月18日在深圳证券交易所摘牌。详见公 司于2025年6月18日披露的《关于股东非公开发行可交换公司债券换股完成暨摘牌 并拟解除剩余标的股票质押的公告》（公告编号：2025-031）。 近日，公司收到新投集团《关于2023年非公开发行可交换公司债券质押股份 解除 ...

Core Viewpoint - New Dairy aims to maintain expansion amidst market fluctuations, focusing on revenue and profit growth, with a strategic plan to double net profit margin over five years [2][25]. Revenue and Profit Performance - In 2024, New Dairy reported revenue of 10.665 billion yuan, a year-on-year decline of 2.93%, primarily due to the exclusion of Chongqing New Niu Han Hong Industrial from consolidated revenue [4]. - Liquid milk revenue for New Dairy in 2024 was 9.836 billion yuan, showing a slight increase of 0.83% year-on-year [4]. - In Q1 2025, New Dairy's revenue grew by 0.42% to 2.625 billion yuan, with net profit increasing by 48.46% to 133 million yuan [5]. Market Trends and Competition - The overall dairy market is facing challenges, with Nielsen IQ reporting a 2.7% decline in dairy sales for 2024 [2]. - Major competitors like Yili and Mengniu are experiencing significant declines in liquid milk revenue, with Yili's liquid milk revenue dropping by 12.32% to 75.003 billion yuan in 2024 [2]. - The low-temperature fresh milk market remains relatively stable, with a 0.4% year-on-year growth in 2024, contrasting with a 7.5% decline in overall liquid milk sales [8][9]. Strategic Initiatives - New Dairy's growth is attributed to its focus on the low-temperature fresh milk segment, which has shown resilience and growth potential [8]. - The company has introduced a variety of products, including high-end fresh milk and low-temperature yogurt, with high-end fresh milk achieving double-digit growth in 2024 [16]. - New Dairy is expanding its distribution channels, including over 500 "24-hour fresh milk" stores and partnerships with major retailers like Sam's Club and Hema [17]. Future Directions - New Dairy is exploring new growth avenues, including expanding into the beverage market and enhancing its product offerings [22]. - The company is also considering international expansion, particularly in Southeast Asia, leveraging resources from New Hope Group [24].

证券代码：002946 证券简称：新乳业 公告编号：2025-034 债券代码：128142 债券简称：新乳转债 新希望乳业股份有限公司 特此公告。 新希望乳业股份有限公司 董事会 关于可转换公司债券2025年度跟踪评级结果的公告 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。 根据中国证券监督管理委员会《上市公司证券发行注册管理办法》《公司债券 发行与交易管理办法》和《深圳证券交易所公司债券上市规则》等相关规定，新 希望乳业股份有限公司（以下简称"公司"）委托信用评级机构中诚信国际信用 评级有限责任公司（以下简称"中诚信"）对公司于 2020 年 12 月公开发行的 A 股可转换公司债券（以下简称"新乳转债"）进行了跟踪评级。 中诚信在对公司经营状况、行业发展情况等进行综合分析与评估的基础上， 出具了《新希望乳业股份有限公司 2025 年度跟踪评级报告》（信评委函字[2025] 跟踪【0817】号），跟踪评级结果：维持公司主体信用等级为 AA，评级展望为 "稳定"；维持"新乳转债"的信用等级为 AA。 中诚信出具的《新希望乳业股份有限公司 2025 年度跟踪 ...

新希望乳业股份有限公司 2025 年度跟踪评级报告 编号：信评委函字[2025]跟踪 0817 号 信用评级报告 新希望乳业股份有限公司 2025 年度跟踪评级报告 声 明 中诚信国际信用评级有限责任公司 2025 年 6 月 23 日 2 ⚫ 本次评级为委托评级，中诚信国际及其评估人员与评级委托方、评级对象不存在任何其他影响本次评级行为独立、 客观、公正的关联关系。 ⚫ 本次评级依据评级对象提供或已经正式对外公布的信息，以及其他根据监管规定收集的信息，中诚信国际按照相关 性、及时性、可靠性的原则对评级信息进行审慎分析，但中诚信国际对于相关信息的合法性、真实性、完整性、准 确性不作任何保证。 ⚫ 中诚信国际及项目人员履行了尽职调查和诚信义务，有充分理由保证本次评级遵循了真实、客观、公正的原则。 ⚫ 评级报告的评级结论是中诚信国际依据合理的内部信用评级标准和方法、评级程序做出的独立判断，未受评级委托 方、评级对象和其他第三方的干预和影响。 ⚫ 本评级报告对评级对象信用状况的任何表述和判断仅作为相关决策参考之用，并不意味着中诚信国际实质性建议任 何使用人据此报告采取投资、借贷等交易行为，也不能作为任何人购买、出售 ...

Core Insights - The article discusses the cheese industry in China, focusing on the production processes, patent applications, and the technological aspects of processed cheese [10][11]. Group 1: Cheese Production Process - The production of processed cheese involves a complex process that includes natural cheese treatment, mixing with emulsifying salts and other ingredients, heating, continuous stirring, packaging, cooling, and storage [5][9]. - Key parameters affecting the quality of processed cheese include melting temperature, processing time, stirring speed, and cooling rate, which significantly influence the final product's texture and functionality [2][4][9]. Group 2: Ingredients and Composition - The composition of processed cheese is influenced by various chemical components such as fat content, moisture content, pH value, total calcium content, casein content, lactose content, and whey protein content [7][9]. - The total calcium content in processed cheese affects its manufacturing difficulty and functional properties, with higher calcium levels leading to increased hardness and reduced meltability [9]. - The pH value of processed cheese is crucial for its quality and microstructure, with an optimal range identified between 5.4 and 5.8 [9]. Group 3: Patent Landscape - As of now, there are over 3,700 cheese-related patents in China, with a notable increase in applications since 2015, peaking at 541 applications in 2023 [10][11]. - The leading applicant for cheese-related patents is Yijia Haonai, a subsidiary of Yili Group, with 137 patents, followed by Mengniu Dairy, Bright Dairy, Yili Company, and Miaokelan Duo [11].

Group 1 - The company has approved a profit distribution plan for the fiscal year 2024, which includes a cash dividend of 2.50 RMB per 10 shares (before tax) to all shareholders [1][2] - The total share capital for the dividend distribution is based on the registered capital as of the equity registration date, with adjustments made if the total share capital changes before the distribution [2][3] - The equity registration date for the profit distribution is set for June 25, 2025, and the ex-dividend date is June 26, 2025 [3] Group 2 - The company will not issue new shares or convert capital reserves into share capital as part of this profit distribution [1][2] - The cash dividend will be distributed directly to shareholders' accounts through their custodial securities companies on the ex-dividend date [3] - The conversion price for the company's convertible bonds (New Dairy Convertible Bonds, code: 128142) will be adjusted from 18.20 RMB to 17.95 RMB per share, effective from June 26, 2025 [3][4]

证券代码：002946 证券简称：新乳业 公告编号：2025-033 债券代码：128142 债券简称：新乳转债 整，没有虚假记载、误导性陈述或重大遗漏。 特别提示： 1、债券代码：128142；债券简称：新乳转债。 3、调整后转股价格：17.95 元/股。 4、本次转股价格调整生效日期：2025 年 6 月 26 日。 5、本次转股价格调整生效之前不暂停转股。 新希望乳业股份有限公司 关于新乳转债转股价格调整的公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完 2、调整前转股价格：18.20 元/股。 一、新乳转债转股价格调整的依据 新希望乳业股份有限公司（以下简称"公司"、"本公司"）于 2020 年 12 月 18 日向社会公开发行了 71,800 万元可转换公司债券（债券简称：新乳转债， 债券代码：128142），并于 2021 年 1 月 19 日在深圳证券交易所上市交易，转 股价格为 18.69 元/股。 根据《新希望乳业股份有限公司公开发行 A 股可转换公司债券募集说明书》 （以下简称"《募集说明书》"）发行条款及中国证监会关于可转换公司债券发 行的有关规定，可转换公司债券在本次发行之 ...