索 引 号 bm56000001/2024-00016176 分 类 发布机构 发文日期 1734910591000 名 称 关于对新希望乳业股份有限公司、席刚、朱川、褚雅楠采取出具警示函行政监管措施的决定 文 号 〔2024〕82号 主 题 词 关于对新希望乳业股份有限公司、席刚、朱川、褚雅楠采取出具警示 函行政监管措施的决定 新希望乳业股份有限公司、席刚、朱川、褚雅楠： 新希望乳业股份有限公司（以下简称新乳业或公司）在2023年年度报告披 露，对重庆新牛瀚虹实业有限公司（以下简称重庆瀚虹）计提商誉减值准备 1260万元。经查，公司在2023年半年报披露前已明确知悉重庆瀚虹无法实现承 诺的业绩，但未在2023年6月30日对重庆瀚虹的商誉进行减值测试，不符合 《企业会计准则第8号——资产减值》第四条的规定，导致《2023年半年度报 告》披露的信息不完整、不准确。 上述事项违反了《上市公司信息披露管理办法》（证监会令第182号）第 三条第一款规定。公司董事长席刚、总经理朱川和财务总监褚雅楠未能勤勉尽 责，违反了《上市公司信息披露管理办法》第四条、第五十一条第三款规定， 对上述事项负有责任。根据《上市公司信息披露 ...

证券代码：002946 证券简称：新乳业 公告编号：2024-074 债券代码：128142 债券简称：新乳转债 新希望乳业股份有限公司 关于公司及相关人员收到四川证监局《行政监管措施 决定书》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。 新希望乳业股份有限公司（以下简称"公司"或"本公司"）于近日收到中 国证券监督管理委员会四川监管局（以下简称"四川证监局"）下发的《行政监 管措施决定书》（[2024]82 号）（以下简称"决定书"），现将相关情况公告如 下： 一、决定书主要内容 公司在 2023 年年度报告披露，对重庆新牛瀚虹实业有限公司(以下简称重 庆瀚虹)计提商誉减值准备 1260 万元。经查，公司在 2023 年半年报披露前已明 确知悉重庆瀚虹无法实现承诺的业绩，但未在 2023 年 6 月 30 日对重庆瀚虹的 商誉进行减值测试，不符合《企业会计准则第 8 号--资产减值》第四条的规定， 导致《2023 年半年度报告》披露的信息不完整、不准确。 上述事项违反了《上市公司信息披露管理办法》(证监会令第 182 号)第三条 第一款规定。公司董 ...

Group 1: Company Overview and Strategy - New Hope Dairy is focusing on core areas and markets to enhance market share and brand influence through regional expansion and product innovation [1] - The company is committed to optimizing product structure and cost management to improve net profit margins [1] Group 2: Low-Temperature Products - Low-temperature products contribute over 50% to the main business, with low-temperature fresh milk and yogurt showing high single-digit growth in the first three quarters [2] - The company anticipates continued growth in low-temperature categories due to increasing consumer demand and acceptance, particularly among younger generations [2] Group 3: Brand Management - The company employs a dual-brand strategy, combining a parent brand with local brands to leverage strong brand loyalty in low-temperature dairy products [2] - Nationally recognized products are being developed under unified brand management, exemplified by brands like "24 Hours," "Live Moisture," and "Original Intention" [2] Group 4: Raw Milk Price and Margin Improvement - Current raw milk prices are relatively low due to multiple factors, including supply-demand dynamics and strategic partnerships with suppliers [2] - The increase in gross margin is attributed to product structure adjustments and cost optimization, with plans to strengthen core business areas to sustain margin growth [2] Group 5: Milk Source Structure - The current milk source structure consists of approximately 30% from owned farms, 30% from strategically invested farms, and 40% from social farms and cooperatives [2] - The company aims to maintain this structure to support the execution of its "Fresh Cube Strategy" [2]

新希望乳业股份有限公司 证券代码：002946 证券简称：新乳业 公告编号：2024-073 债券代码：128142 债券简称：新乳转债 关于可转换公司债券2024年付息公告 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、"新乳转债"将于 2024 年 12 月 18 日按面值支付第四年的利息，每 10 张 "新乳转债"（面值 1,000.00 元）利息为 15.00 元（含税）。 2、债权登记日：2024 年 12 月 17 日。 3、除息日：2024 年 12 月 18 日。 4、付息日：2024 年 12 月 18 日。 5、"新乳转债"票面利率：第一年为 0.30%、第二年为 0.50%、第三年为 1.00%、第四年为 1.50%、第五年为 1.80%、第六年为 2.00%。 6、"新乳转债"本次付息的债权登记日为 2024 年 12 月 17 日，凡在 2024 年 12 月 17 日（含）前买入并持有"新乳转债"的投资者享有本次派发的利息。 2024 年 12 月 17 日卖出"新乳转债"的投资者不享有本次派发的利息。在债权 登记 ...

Summary of the Conference Call for New Dairy Industry Company Overview - The conference call pertains to New Dairy Industry, focusing on its performance and outlook in the dairy sector. Key Points and Arguments Industry Performance - In October and November, terminal sales did not show significant recovery, with the annual goal still set for positive revenue growth and net profit margin improvement [2][3] - There is a divergence in opinions regarding the timing of raw milk price recovery, with expectations ranging from mid-next year to as late as 2026 [4] - The company maintains a stable milk sourcing policy, with over 60% of milk sourced from self-controlled sources, and only 10% from temporary demand adjustments [5] Financial Performance - The gross profit margin significantly improved in Q3, primarily due to product structure optimization and cost contributions. However, raw milk price recovery is expected to impact gross margins next year, while reduced sales expenses may enhance net profit margins [2][7] - If raw milk prices remain low in the first half of next year, it will positively contribute to gross margin improvement [8] - The company has experienced minimal impairment in bulk powder due to a flexible milk sourcing structure and efficient inventory management [10] Regional Performance - The East China region showed significant revenue growth, driven by new product launches and supply chain optimization, with low-temperature fresh milk growth nearing triple digits [11][15] Product Strategy - The liquid milk business structure includes approximately 50% low-temperature products, with a focus on low-temperature fresh milk and specialty yogurt, which have shown strong growth [12] - Product structure optimization contributed significantly to the gross margin increase, with low-temperature fresh milk and specialty yogurt being the main contributors [13] Future Outlook - The company aims to maintain continuous positive revenue growth and accelerate net profit margin improvement in line with its five-year plan, focusing on low-temperature products [14] - The company plans to continue its conservative capital expenditure strategy while maintaining high capacity utilization [19] Competitive Advantages - The company has established competitive advantages in the low-temperature dairy product sector through strategic focus, supply chain optimization, and new product development [20] Channel Strategy - The company has adapted to changes in channel structure, increasing collaboration with emerging channels and focusing on direct-to-consumer strategies to enhance profitability [21] Industry Challenges - The overall consumer goods and dairy industry faces significant pressure this year, but the company is committed to achieving its five-year plan and annual goals [25] Additional Important Information - The company is actively managing its financial expenses, aiming to reduce its debt ratio from 72% at the beginning of the year to 66% by Q3 [18] - The company is also addressing the issue of outstanding payments related to its "one yogurt cow" case, with plans to recover over 20 million yuan [16]

证券代码：002946 证券简称：新乳业 公告编号：2024-072 债券代码：128142 债券简称：新乳转债 1 新希望乳业股份有限公司 关于审计机构变更项目质量控制复核人的公告 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。 新希望乳业股份有限公司（以下简称"公司"或"本公司"）于 2024 年 4 月 24 日召开了第三届董事会第七次会议、于 2024 年 5 月 21 日召开了公司 2023 年年度股东大会，审议通过了《关于聘请 2024 年度审计机构的议案》，同意公 司续聘毕马威华振会计师事务所（特殊普通合伙）（以下简称"毕马威华振"） 为公司 2024 年度审计机构。具体内容详见 2024 年 4 月 26 日公司刊登于《中 国证券报》《上海证券报》《证券日报》《证券时报》并披露于巨潮资讯网 （www.cninfo.com.cn）的《关于拟续聘会计师事务所的公告》（公告编号：2024- 020）。 公司于近日收到毕马威华振出具的《关于变更新希望乳业股份有限公司 2024 年度项目质量控制复核人的说明》，现将具体情况公告如下： 一、 项目质量控制复 ...

Core Insights - New Dairy reported a decrease in the number of shareholders to 17,580 as of November 10, representing a reduction of 1,697 shareholders or a decline of 8.80% compared to the previous period [1] - This marks the fourth consecutive decline in the number of shareholders, with a cumulative decrease of 19.62%, indicating a trend of increasing concentration of shares [1] - The latest stock price of New Dairy is 13.63 yuan, reflecting an increase of 2.87%, and since the concentration of shares began, the stock price has risen by a total of 10.45% [1] - Over the specific trading days, the stock experienced 15 increases and 11 decreases, including one instance of hitting the daily limit down [1]

Group 1 - The core point of the article is that New Dairy has experienced a continuous decline in the number of shareholders, with a reported decrease of 1,697 shareholders as of November 10, resulting in a total of 17,580 shareholders, marking an 8.80% decrease compared to the previous period [1] - This decline in shareholder numbers has occurred for four consecutive periods [1] - As of the latest report, New Dairy's stock price is 13.63 yuan, reflecting an increase of 2.87%, and a cumulative increase of 10.90% since the concentration of shares began [1] Group 2 - The stock has shown a performance of six increases and two decreases over the specific trading days [1]

Investment Rating - The investment rating for the company is "Buy" and is maintained [6][8]. Core Views - The company reported a total revenue of 8.15 billion yuan for the first three quarters of 2024, a year-on-year decrease of 0.54%. However, the net profit attributable to shareholders was 474 million yuan, reflecting a year-on-year increase of 24.37%, and the net profit excluding non-recurring items was 507 million yuan, up 29.5% year-on-year [4][6]. - In Q3 2024, the company achieved a total revenue of 2.785 billion yuan, down 3.82% year-on-year, while the net profit attributable to shareholders was 177 million yuan, an increase of 22.92%, and the net profit excluding non-recurring items was 193 million yuan, up 19.73% year-on-year [4][6]. - The decline in revenue in Q3 2024 was primarily due to the drag from trade-related businesses and the impact of one yogurt product being removed from the financial statements. Despite the pressure on demand, the company's product structure continues to optimize [4][5]. Financial Performance - The company's net profit margin increased by 1.16 percentage points year-on-year to 5.81% for the first three quarters of 2024, with a gross profit margin up by 1.67 percentage points to 29.09%. The expense ratio increased by 0.38 percentage points to 21.49% [5]. - In Q3 2024, the net profit margin rose by 1.38 percentage points to 6.36%, and the gross profit margin increased by 2.4 percentage points to 28.83%. The expense ratio for this quarter was 20.58%, up 1.01 percentage points year-on-year [5]. - The company is focusing on its "Fresh Cube" strategy, which is expected to drive positive revenue growth for the year, alongside an acceleration in profitability. The company also declared its first interim dividend of 30.12 million yuan, reflecting confidence in future profit growth and enhancing shareholder returns [6]. Earnings Forecast - The forecast for net profit attributable to shareholders is 551 million yuan for 2024 and 685 million yuan for 2025, corresponding to EPS of 0.64 yuan and 0.80 yuan, respectively. The PE ratios are projected to be 21 times for 2024 and 17 times for 2025 [6][11].

证券代码：002946 证券简称：新乳业 公告编号：2024-071 债券代码：128142 债券简称：新乳转债 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。 新希望乳业股份有限公司（以下简称"本公司"、"公司"）于 2021 年以 现金方式收购了重庆新牛瀚虹实业有限公司（以下简称"重庆瀚虹"）60%股权 （以下简称"'一只酸奶牛'项目"），华昌明、伍元学、华自立等 3 名自然人（以 下简称"补偿义务人"）在相关协议中作出业绩承诺。2023 年末，补偿义务人以 情势变更为由向重庆仲裁委员会提出变更补偿条款的申请；2024 年 3 月，重庆 仲裁委员会作出裁决对相关补偿条款进行了变更。 本公司就执行仲裁裁决暨变更"一只酸奶牛"项目补偿条款事宜公告如下： 一、背景情况 2021 年 1 月 5 日，本公司与华昌明、伍元学、华自立及其控制的相关主体 签署了《关于"一只酸奶牛"之投资合作协议》（以下简称"《投资合作协议》"）， 公司收购重庆瀚虹 60%的股权，交易对价为人民币 23,100 万元。其中，《投资 合作协议》第十二条约定了业绩承诺期及相应的补偿事项。相关 ...