| 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | | --- | --- | --- | --- | --- | --- | --- | | 001318 | 阳光乳业 | 15.41 | 1.99% | 18.38万 | | 2.79亿 | | 603711 | 香飘飘 | 14.05 | 1.44% | 8.26万 | | 1.15亿 | | 002946 | 新乳业 | 18.53 | 1.42% | 7.56万 | | 1.39亿 | | 600429 | 三元股份 | 4.83 | 0.84% | 12.37万 | | 5971.27万 | | 600300 | 维维股份 | 3.50 | 0.57% | 48.02万 | | 1.68亿 | | 600887 | 伊利股份 | 28.33 | 0.57% | 71.29万 | | 20.19亿 | | 605499 | 东鹏饮料 | 303.91 | 0.53% | 2.54万 | | 7.83亿 | | 002732 | 菲博到亚 | 17.71 | 0.45% | 3.64万 | | 6436.20万 | ...

证券代码：300898 证券简称：熊猫乳品 公告编号：2025-044 一、股东减持情况 | 股东名称 | 股份来源 | 减持方式 | 减持期间 | | 减持价格区 间（元/股） | 减持股数 （股） | 减持股份 占总股本 | | --- | --- | --- | --- | --- | --- | --- | --- | | | 公司首次 | | 2025 5 | 年 | | | 比例 | | 陈秀芝 | 公开发行 | 集中竞价 | 月 29 | 日 | 26.90-29.15 | 1,199,970 | 0.9677% | | | 前已发行 | | -2025 | 年 | | | | | | 的股份 | | 8 月 22 日 | | | | | 1、股东减持股份情况 熊猫乳品集团股份有限公司 关于实际控制人的一致行动人 减持计划实施完毕的公告 公司实际控制人的一致行动人陈秀芝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。 熊猫乳品集团股份有限公司（以下简称"本公司"或"公司"）于 2025 年 5 ...

Market Overview - The Shanghai Composite Index closed at 3883.56 points, above the six-month moving average, with an increase of 1.51% [1] - The total trading volume of A-shares reached 31,769.48 million yuan [1] Stocks Breaking the Six-Month Moving Average - A total of 83 A-shares have surpassed the six-month moving average today [1] - Notable stocks with significant deviation rates include: - ST Yilianzhong (18.16%) - Kunlun Technology (7.79%) - Huazhi Wine (7.67%) [1] Detailed Stock Performance - The following table summarizes the performance of selected stocks that broke the six-month moving average: | Stock Code | Stock Name | Daily Change (%) | Turnover Rate (%) | Six-Month Average (yuan) | Latest Price (yuan) | Deviation Rate (%) | | --- | --- | --- | --- | --- | --- | --- | | 300096 | ST Yilianzhong | 19.90 | 6.74 | 4.08 | 4.82 | 18.16 | | 831152 | Kunlun Technology | 11.70 | 11.86 | 20.98 | 22.62 | 7.79 | | 300755 | Huazhi Wine | 8.88 | 5.96 | 18.21 | 19.61 | 7.67 | | 600539 | Shitou Co. | 10.02 | 11.47 | 11.30 | 11.97 | 5.94 | | 603198 | Yingjia Wine | 7.22 | 2.79 | 44.61 | 47.08 | 5.54 | | 000002 | Vanke A | 9.15 | 8.16 | 6.81 | 7.16 | 5.20 | | 688646 | ST Yifei | 5.53 | 4.39 | 31.37 | 32.82 | 4.63 | | 003041 | True Love Home | 4.93 | 6.05 | 28.37 | 29.59 | 4.29 | | 839371 | Oufu Industry | 4.59 | 4.82 | 11.15 | 11.62 | 4.20 | | 601933 | Yonghui Supermarket | 5.04 | 5.91 | 5.03 | 5.21 | 3.66 | | 600325 | Huafa Co. | 4.19 | 4.88 | 5.05 | 5.22 | 3.37 | | 601238 | GAC Group | 3.04 | 1.05 | 7.89 | 8.13 | 3.00 | | 600657 | Xinda Real Estate | 3.16 | 2.50 | 4.13 | 4.25 | 2.91 | | 603108 | Runda Medical | 3.00 | 7.99 | 18.43 | 18.90 | 2.54 | | 600988 | Chifeng Gold | 4.03 | 5.40 | 24.67 | 25.30 | 2.54 | | 000069 | Overseas Chinese Town A | 3.86 | 3.88 | 2.36 | 2.42 | 2.44 | | 600872 | Zhongju Gaoxin | 3.29 | 4.97 | 19.37 | 19.78 | 2.14 | | 003000 | Jin Zai Food | 2.46 | 7.48 | 13.07 | 13.35 | 2.13 [1]

Group 1 - A-share food stocks experienced a significant rally, with notable gains in several companies including Yiming Food reaching a 10% increase and Pinwa Food rising over 6% [1][2] - Other companies such as Oufu Egg Industry, Guifaxiang, Three Squirrels, and Zhu Laoliu also saw increases exceeding 5%, indicating a positive trend in the food sector [1][2] - The MACD golden cross signal formation suggests a strong upward momentum for these stocks [2] Group 2 - Yiming Food's total market capitalization is approximately 9.528 billion, with a year-to-date increase of 18.86% [2] - Pinwa Food has a market cap of around 3.905 billion and has increased by 22.35% since the beginning of the year [2] - Oufu Egg Industry's market value stands at 2.4 billion, with a remarkable year-to-date growth of 71.20% [2]

事实上，从2021年开始，以浓缩乳制品、乳品贸易为主的熊猫乳品，便试图拓展"第二增长曲线"，相继 开辟奶酪、奶油、植物基等产品线。但目前，"第二增长曲线"的体量较小，与头部品牌相比差距明显。 值得一提的是，目前现制茶饮的终端价格战正盛，作为浓缩乳制品供应商的熊猫乳品，68.7%的收入依 赖该领域，订单量明显压缩。对于B端价格战以及竞争格局，熊猫乳品方面称："竞争可能继续加剧， 头部乳企正加大ToB领域的投入，目前主要依靠大客户走量。公司的优势在于流通渠道，大客户、工业 客户方面也在持续寻找机会。" 去年以来，熊猫乳品的业绩便持续承压。数据显示，去年熊猫乳品营收约7.64亿元，同比下降19.29%； 实现归属于上市公司股东的净利润约1.02亿元，同比下降5.98%。 此外，熊猫乳品也面临一定的现金流压力。报告期内，熊猫乳品的经营活动产生的现金流量净额 为-2700万元，与去年同期的6500万元相比由正转负，显示出熊猫乳品在经营活动中的现金回笼能力有 所减弱。此外，在应收账款中，熊猫乳品前五大客户的应收账款占应收账款总额的68.32%。 在近日的分析师会议上，"炼乳第一股"熊猫乳品就半年度业绩回答投资者询问。财报 ...

值得注意的是，现制茶饮终端价格战正盛，作为浓缩乳制品供应商，熊猫乳品68.7%的收入依赖该领域，订单量 受到明显压缩。对于B端价格战以及竞争格局，熊猫乳品称，竞争可能继续加剧，头部乳企在加大ToB投入，目前 主要依靠大客户起量。公司优势在于流通渠道，大客户、工业客户方面也在持续寻找机会。 但自2024年以来，熊猫乳品的业绩便持续承压。2024年实现营收约为7.64亿元，同比下降19.29%；实现归母净利 润约为1.02亿元，同比下降5.98%。 此外，熊猫乳品面临一定现金流压力。报告期内，熊猫乳品的经营活动产生的现金流量净额为-0.27亿元，与2024 年同期的0.65亿元相比由正转负，显示出公司在经营活动中的现金回笼能力有所减弱。应收账款中，熊猫乳品前 五大客户的应收账款占应收账款总额的68.32%。 中国食品产业分析师朱丹蓬表示，"熊猫乳品作为上游的供应商，受到原料波动的影响是最大的，无论下游终端市 场、品牌的变化，还是成本的上升，对其影响都是非常巨大的。这种模式单一、产品单一、客户单一、渠道单 一，缺乏核心竞争力，护城河也不够深、不够宽"。 近日，在分析师会议上，"炼乳第一股"熊猫乳品就半年度业绩回答了 ...

据证券之星公开数据整理，近期熊猫乳品（300898）发布2025年中报。根据财报显示，熊猫乳品净利润 同比下降12.76%。截至本报告期末，公司营业总收入3.53亿元，同比下降2.16%，归母净利润4134.25万 元，同比下降12.76%。按单季度数据看，第二季度营业总收入1.83亿元，同比上升4.27%，第二季度归 母净利润2772.9万元，同比上升33.18%。 本次财报公布的各项数据指标表现不尽如人意。其中，毛利率26.3%，同比减4.23%，净利率11.4%，同 比减13.34%，销售费用、管理费用、财务费用总计4348.99万元，三费占营收比12.34%，同比增8.84%， 每股净资产7.66元，同比增2.24%，每股经营性现金流-0.22元，同比减141.01%，每股收益0.33元，同比 减12.77% | 项目 | 2024年中报 | 2025年中报 | 同比增幅 | | --- | --- | --- | --- | | 营业总收入(元) | 3.6亿 | 3.53亿 | -2.16% | | 归母净利润(元) | 4738.72万 | 4134.25万 | -12.76% | | 扣非净利 ...

Summary of Key Points Core Viewpoint - The announcement details the completion of a share reduction plan by major shareholders Guo Hong and Zhou Wei of Panda Dairy Products Group Co., Ltd, indicating a strategic shift in ownership structure without impacting the company's governance or ongoing operations [1]. Group 1: Share Reduction Details - Guo Hong and Zhou Wei have reduced their holdings by 1,240,000 shares, which accounts for 1.0000% of the total share capital [1]. - After the reduction, Guo Hong and Zhou Wei hold a combined total of 6,624,929 shares, representing 5.3427% of the total share capital [1]. - The reduction was executed through centralized bidding, with share prices ranging from 26.50 to 30.77 yuan per share [1]. Group 2: Compliance and Governance - The company confirms that the information provided by the shareholders is true, accurate, and complete, with no misleading statements or significant omissions [1]. - The change in shareholding will not affect the company's governance structure or its ability to continue operations [1]. - The reduction plan complies with relevant laws and regulations, including the interim measures for managing share reductions by shareholders of listed companies [1].

不过，二季度公司业绩有所好转，营收1.83亿元，同比增长4.27%，环比增长7.76%；净利润2773万元， 同比增长33.18%，环比增长108%。净利润增长主要受益于浓缩乳制品销售增长，同时海南公司和可宝 业务的亏损在二季度有所收窄。 分业务来看： -浓缩乳制品业务：营收2.68亿元，同比增长3.8%，毛利率34.63%。尽管大包粉价格有所 上涨，但公司通过提前完成全年大部分原辅料战略性采购，保持了较好的利润率。细分品类中，炼乳类 增长为主，奶油实现两位数增长，奶酪受市场竞争加剧影响下降较多。 -椰品业务：营收3681万元，同 比增长97%，主要因对大客户的供货重回正轨。但由于椰子类原材料价格上涨，毛利率承压。7月起椰 子原材料价格进入下行通道，7月已实现盈亏平衡，预计下半年利润将有所改善，期望全年利润能够回 正。目前海南熊猫产能较满，海南新厂房计划明年投产，届时产能将进一步释放。 -乳品贸易业务：营 收4080.05万元，受进口奶粉价格高于国产奶粉的影响，大包粉现货大宗交易业务量下滑明显。公司已 披露套期保值业务制度，后续将尝试通过套期保值缓解价格波动对贸易业务的冲击。 8月22日，熊猫乳品集团股份有限 ...

Group 1: Financial Performance - The company achieved a revenue of 353 million CNY in the first half of the year, a year-on-year decrease of 2.16% [3] - Net profit attributable to shareholders was 41.34 million CNY, down 12.76% year-on-year [3] - Excluding trade business, revenue grew by 11% year-on-year [3] - In Q2, revenue reached 183 million CNY, a year-on-year increase of 4.27% and a quarter-on-quarter increase of 7.76% [3] Group 2: Business Segments - Revenue from concentrated dairy products was 268 million CNY, with a year-on-year growth of 3.8% and a gross margin of 34.63% [3] - Coconut product revenue was 36.81 million CNY, showing a significant year-on-year increase of 97% due to the resumption of supply to major clients [4] - Dairy trade business revenue was 40.80 million CNY, impacted by higher prices of imported milk powder compared to domestic options [4] Group 3: Market Strategies and Challenges - The company is implementing promotional strategies to boost sales of condensed milk, which has seen growth but below expectations [5] - The cheese segment faces intensified competition, necessitating differentiation in positioning [5] - The company anticipates a recovery in profits for coconut products in the second half of the year as raw material prices decline [4][7] Group 4: Customer and Product Development - Major clients in the coconut segment are expected to contribute significantly more than the previous year [6] - New product lines, such as "爆爆珠," are being introduced, with expectations for increased sales in the coming year [15] - The company plans to expand its ToC (business-to-consumer) operations through partnerships with platforms like 优鲜 [13] Group 5: Cost and Pricing Outlook - Domestic milk powder prices are on an upward trend, while sugar prices are currently declining [9] - The overall gross margin is expected to slightly decrease for the year [9] - The company is exploring hedging strategies to mitigate price fluctuations in the trade business [4]