Financial Performance - The company's operating revenue for 2023 was ¥764,303,545.21, a decrease of 19.29% compared to ¥946,938,152.54 in 2022[22]. - The net profit attributable to shareholders for 2023 was ¥102,498,052.24, down 5.98% from ¥109,014,110.46 in the previous year[22]. - The net cash flow from operating activities for 2023 was ¥176,436,834.30, reflecting a decline of 4.23% compared to ¥184,222,807.94 in 2022[22]. - The total assets at the end of 2023 amounted to ¥1,091,825,944.97, a decrease of 4.77% from ¥1,146,493,057.61 at the end of 2022[22]. - The net assets attributable to shareholders increased by 4.31% to ¥984,277,892.05 in 2023, compared to ¥943,646,796.70 in 2022[22]. - The company reported a basic earnings per share of ¥0.8266 for 2023, down 5.66% from ¥0.8762 in 2022[22]. - The company's total revenue for the reporting period was approximately ¥764.30 million, representing a year-on-year decrease of 19.29%[56]. - The direct sales revenue decreased by 22.55% to ¥169.18 million, while the trade revenue saw a significant decline of 38.37% to ¥126.36 million[56]. - The gross profit margin for the overall business was 28.40%, which is an increase of 5.27% compared to the previous year[56]. - The company's total sales revenue was approximately ¥585.25 million, with 77.23% from distribution sales (¥451.98 million) and 22.77% from direct sales (¥133.28 million)[54]. Dividend Distribution - The company plans to distribute a cash dividend of 6.00 RMB per 10 shares to all shareholders, based on a total of 124,000,000 shares[5]. - The company distributed cash dividends of 6.00 RMB per 10 shares, totaling 74,400,000 RMB, which represents 21.22% of the total distributable profit of 350,628,572.09 RMB[158][159]. - The company has a profit distribution policy that mandates a minimum cash dividend of 10% of the distributable profit, with higher percentages based on the company's development stage and capital expenditure plans[155][156]. Market and Industry Trends - The company operates in the concentrated dairy product sector, which is expected to have significant growth potential due to the low per capita consumption of dairy in China[32]. - The Chinese milk production in 2024 is projected to be 40.79 million tons, a decrease of 2.80% year-on-year, indicating potential supply challenges[32]. - The market for condensed milk in China has evolved significantly, integrating deeply into local dietary culture and showing potential for further development[32]. - The cheese market in China reached a scale of 12.8 billion yuan in 2023, with demand increasing from 153,900 tons in 2016 to 350,600 tons[35]. - The domestic cream market is expected to achieve significant growth, with local brands gaining market share against imported products due to better cost performance and supply chain stability[34]. Research and Development - The company has obtained 76 patents as of the end of the reporting period, emphasizing its commitment to R&D and innovation in product development[40]. - The company is focusing on the innovation and processing of condensed milk, positioning itself as a leader in the industry[32]. - The company is focusing on the development of plant-based products, including coconut milk and rice milk, to meet the growing demand for healthy alternatives[38]. - The company has ongoing R&D projects aimed at enhancing product offerings, including coconut cream and mascarpone cheese[81]. - The company has successfully completed several R&D projects, with positive customer feedback on new product samples[81]. Supply Chain and Procurement - The company has established stable and long-term cooperative relationships with suppliers for raw materials, ensuring stability and sustainability in procurement[41]. - The procurement strategy for A-class materials, which include fresh milk and various types of milk powder, involves a qualified supplier system and annual evaluations to ensure quality compliance[51]. - The company utilizes the GDT platform for purchasing milk powder, which is a key indicator for global dairy prices, ensuring competitive pricing through real-time auction data[51]. - The company's supply chain strategy focuses on stable and sustainable procurement of raw materials, including deep cooperation with local large farms for fresh milk[64]. Corporate Governance - The company emphasizes the importance of investors understanding the differences between plans, forecasts, and commitments, urging rational investment and risk awareness[4]. - The company is committed to enhancing its supply chain risk management capabilities to adapt to market changes[41]. - The company has implemented a "Quality and Return Dual Improvement" action plan to enhance operational efficiency[115]. - The company has established specialized committees within the board to enhance decision-making capabilities and governance standards[118]. - The company maintains strict information disclosure practices, ensuring timely and accurate communication with investors through designated channels[121]. Legal and Compliance - The company has no significant changes in the measurement attributes of its main assets during the reporting period[90]. - The company has confirmed that all commitments made during the IPO process have been fulfilled on time[188]. - The company has no major accounting policy changes or corrections of significant accounting errors during the reporting period[191]. - The company has not reported any major related party transactions exceeding the expected annual limit for 2024[200]. - The company has maintained a clean integrity status for itself and its controlling shareholders[199]. Employee and Training - The total number of employees at the end of the reporting period is 659, with 349 from the parent company and 310 from major subsidiaries[148]. - The company conducted 67 corporate culture training sessions totaling 109 hours to help new employees integrate and enhance the sense of belonging for existing employees[151]. - A total of 197 professional skills training sessions were held, lasting 720 hours, effectively improving employee skills and work efficiency[152]. - The company has achieved significant results in attracting and retaining talent, leading to increased employee satisfaction and well-being[150]. Environmental and Social Responsibility - The company actively participates in public welfare activities and emphasizes social responsibility, enhancing its competitive advantage[170]. - The company adheres to environmental protection laws and regularly evaluates compliance with applicable regulations[171]. - The company promotes energy-saving technologies and has undertaken measures to reduce resource consumption[173]. - The company donated 500,000 yuan through the Cangnan County Charity Association Panda Dairy Fund to support economically disadvantaged college students and communities in need[179]. Strategic Initiatives - The company plans to continue expanding its distribution network and enhancing its product offerings in response to market demand[55]. - The company plans to leverage e-commerce channels to promote its innovative products, including cheese snacks, and build a B/C end growth model[112]. - The company is focusing on expanding its product line to include jelly, jam, and beverages, which are seen as growth areas in the market[105]. - The company plans to invest a total of 27,891.15 million in various projects, with actual investment reaching 1,983.74 million, representing 7.11% of the planned amount[105].

证券代码：300898 证券简称：熊猫乳品 公告编号：2025-009 熊猫乳品集团股份有限公司 关于公司 2024 年度利润分配预案的公告 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。 熊猫乳品集团股份有限公司（以下简称"熊猫乳品"或"公司"）于 2025 年 4 月 16 日召开第四届董事会第十一次会议及第四届监事会第十次会议分别审议 通过了《关于<公司 2024 年度利润分配预案>的议案》，本议案尚需提交公司 2024 年年度股东大会审议。现将相关事宜公告如下： 一、审议程序 1、董事会意见 公司于 2025 年 4 月 16 日召开第四届董事会第十一次会议，审议通过了《关 于<公司 2024 年度利润分配预案>的议案》。董事会认为：公司 2024 年度利润分 配预案符合公司发展需要，符合《公司法》《证券法》及《公司章程》等相关法 律法规、规章制度的要求，具备合法性、合规性、合理性。 2、监事会意见 公司于 2025 年 4 月 16 日召开第四届监事会第十次会议，审议通过了《关于 <公司 2024 年度利润分配预案>的议案》。经审核，监事会认为：公司 ...

熊猫乳品（300898）公告，2024年营业收入为7.64亿元，同比下降19.29%。归属于上市公司股东的净利 润为1.02亿元，同比下降5.98%。公司拟向全体股东每10股派发现金红利6元(含税)，送红股0股(含税)， 以资本公积金向全体股东每10股转增0股。 ...

股票交易异常波动的公告 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。 一、股票交易异常波动的具体情况 熊猫乳品集团股份有限公司（以下简称"公司"或"本公司"）股票交易于 2025 年 4 月 3 日、2025 年 4 月 7 日、2025 年 4 月 8 日连续三个交易日收盘价格 涨幅偏离值累计超过 30%，根据《深圳证券交易所交易规则》的相关规定，属于 股票交易异常波动的情况。 二、公司关注并核实情况的说明 针对公司股票异常波动情况，公司董事会采用通讯结合现场问询的方式，对 公司控股股东、实际控制人、公司全体董事、监事和高级管理人员就相关问题进 行了核实，现就相关情况说明如下： 证券代码：300898 证券简称：熊猫乳品 公告编号：2025-004 熊猫乳品集团股份有限公司 公司董事会确认，除在指定媒体已公开披露的信息外，本公司目前没有任何 根据《深圳证券交易所创业板股票上市规则》等有关规定应予以披露而未披露的 事项或与该事项有关的筹划、商谈、意向、协议等；董事会也未获悉本公司有根 据《深圳证券交易所创业板股票上市规则》等有关规定应予以披露而未披露的、 对 ...

证券代码：300898 证券简称：熊猫乳品 公告编号：2025-003 熊猫乳品集团股份有限公司 关于为参股公司提供担保暨关联交易的进展公告 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。 一、担保情况概述 熊猫乳品集团股份有限公司（以下简称"公司"）于 2024 年 4 月 23 日召开 第四届董事会第四次会议，于 2024 年 5 月 15 日召开 2023 年年度股东大会，审 议通过了《关于为参股公司提供担保暨关联交易的议案》，同意为参股公司优鲜 工坊（浙江）食品有限公司（以下简称"优鲜工坊"）向银行申请授信或贷款提 供不超过 1,000 万元的保证担保，优鲜工坊其他股东向公司提供反担保。该担保 额度为最高担保额度，担保额度在有效期内可以滚动使用。上述担保额度有效期 限自 2023 年年度股东大会审议通过之日起 12 个月内有效。具体内容详见公司在 巨潮资讯网（www.cninfo.com.cn）披露的相关公告。 二、担保进展情况 近日，公司与招商银行股份有限公司杭州分行（以下简称"招商银行"）签 订了《最高额不可撤销担保书》，为优鲜工坊向招商银行申请不 ...

证券代码：300898 证券简称：熊猫乳品 公告编号：2025-002 熊猫乳品集团股份有限公司 股票交易异常波动的公告 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。 一、股票交易异常波动的具体情况 熊猫乳品集团股份有限公司（以下简称"公司"或"本公司"）股票交易于 2025 年 3 月 14 日、2025 年 3 月 17 日连续两个交易日收盘价格涨幅偏离值累计 超过 30%，根据《深圳证券交易所交易规则》的相关规定，属于股票交易异常波 动的情况。 二、公司关注并核实情况的说明 针对公司股票异常波动情况，公司董事会采用通讯结合现场问询的方式，对 公司控股股东、实际控制人、公司全体董事、监事和高级管理人员就相关问题进 行了核实，现就相关情况说明如下： 1、公司前期披露的信息不存在需要更正、补充之处。 2、公司目前经营正常，近期公司经营情况及内外部经营环境未发生重大变 化。 3、公司未发现近期公共传媒报道了可能或已经对公司股票交易价格产生较 大影响的未公开重大信息。 事项或与该事项有关的筹划、商谈、意向、协议等；董事会也未获悉本公司有根 据《深圳证券交易所创业 ...

证券代码：300898 证券简称：熊猫乳品 公告编号：2025-001 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股份减持完成的公告 公司实际控制人的一致行动人陈秀琴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 2024 年 12 月 2 日披露了《关于实际控制人的一致行动人减持股份的预披露公告》，公司实际 控制人的一致行动人陈秀琴计划在发布减持预披露公告之日起 15 个交易日后的 3 个月内（即 2024 年 12 月 24 日-2025 年 3 月 23 日）通过集中竞价和大宗交易方式 减持公司股份累计不超过 500,000 股，占公司总股本比例为 0.4032%。具体内容详 见公司发布在巨潮资讯网（www.cninfo.com.cn）的相关公告。 公司于近日收到陈秀琴出具的《关于股份减持计划实施完毕的告知函》，截至 本公告日，陈秀琴通过集中竞价方式减持公司股份 499,970 股，现将相关情况公告 如下： 一、股东减持情况 | 股 ...

Summary of Panda Dairy's Conference Call Company Overview - **Company**: Panda Dairy - **Industry**: Dairy Products Key Points and Arguments - **2024 Operational Performance**: Panda Dairy's overall performance in 2024 continued the trend from the first half of the year, with no significant changes. The cream product segment showed good growth despite its smaller base. The gross margin remained high due to effective control of raw material costs, and channel margins improved compared to the previous year. However, sales to major clients declined due to the overall consumption environment, although new clients were added, their volume has not reached significant levels [3][4]. - **Channel Performance**: The baking channel showed a good recovery, and the cheese business performed well, ensuring revenue and profit. The restaurant channel's performance was neutral, influenced by the macroeconomic environment. The tea beverage channel focused on major clients like "Hushang Auntie" and "Tea Hundred Ways," with an emphasis on developing new products in tea beverages and cream to attract more clients [4][5]. - **R&D Team Upgrade**: The R&D team was upgraded with a new leader from a foreign enterprise and an increase in team size, enhancing capabilities in tea beverage and cream applications to develop more new clients [6]. - **2025 Market Demand Outlook**: The restaurant market is a core channel for Panda Dairy, closely tied to the macroeconomic environment. The company expects positive impacts from national consumption promotion policies, including potential restaurant subsidies. The core distributors have not been lost, and new clients are being added to offset volume declines [7]. - **Channel Expansion Strategy**: Panda Dairy plans to deepen its channel penetration, focusing on small and new restaurant chains and markets in lower-tier cities. The company aims to expand its traditional restaurant channels by developing new distributors [8]. - **Competitive Landscape**: Competitors are currently performing weakly, particularly smaller condensed milk brands. Despite a challenging market environment, Panda Dairy is optimistic about increasing market share. The company faces pricing competition in its private label products but sees growth potential in the high-end restaurant market [9]. - **Raw Material Price Trends**: Raw material prices are at historical lows, with domestic milk powder cheaper than imported options. It is expected that large package powder prices will gradually rise by the second half of 2026. However, prices for coconut milk and coconut water are increasing due to import factors from Southeast Asia, which may pressure operations [10][11]. - **2025 Revenue and SKU Expectations**: The company anticipates a revenue target of several hundred million for its "Youke Factory," aiming for double-digit growth. The focus will be on launching new products and building regional brand presence [12]. - **Product Differentiation**: Panda Dairy's product overlap with competitors like "Miaokelando" is mainly in B2B cheese ingredients. Panda Dairy focuses on thick milk, condensed milk, and plant-based products, which do not directly compete with "Miaokelando" [13]. - **B2B and B2C Business Proportions**: The B2C business, primarily managed by "Youli," has a gross margin of over 40%. The B2B business volume is around 1 million [14]. - **Trade Business Outlook**: The trade business turned profitable in 2024 after previous losses. Continued price increases in commodities are expected to benefit this segment, although the company plans to limit trade volume to around 200 million [15]. - **New Product Development**: New incubated enterprises are exploring terminal customers and developing innovative products in both tea beverage and food industrial channels, although these initiatives are still in early stages [16]. - **Overall Revenue and Profit Outlook for 2025**: The company expects a recovery in consumer enthusiasm in 2025, leading to potential raw material price increases. New products are anticipated to drive revenue growth, with a forecast of double-digit growth in condensed milk sales, particularly in tea-related cream products. Overall performance is expected to return to 2023 levels, although gross margins may face pressure [17].

证券代码：300898 证券简称：熊猫乳品 公告编号：2024-065 熊猫乳品集团股份有限公司 关于开立募集资金专户并签订募集资金三方监管协议的公告 账号：1203284529211111121 三、《募集资金三方监管协议》的主要内容 甲方：熊猫乳品集团股份有限公司（以下简称"甲方"） 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、募集资金基本情况 经中国证券监督管理委员会《关于同意熊猫乳品集团股份有限公司首次公开 发行股票注册的批复》（证监许可[2020]2130 号）同意注册，熊猫乳品集团股份 有限公司（以下简称"公司"）向社会公众公开发行人民币普通股（A 股）3,100 万股，发行价为 10.78 元/股，本次发行募集资金总额为人民币 33,418.00 万元， 扣除发行费用 5,638.00 万元后，募集资金净额为 27,780.00 万元。募集资金已 于 2020 年 10 月 13 日到账，上述资金到账情况已经容诚会计师事务所（特殊普 通合伙）进行了审验，并于 2020 年 10 月 13 日出具了容诚验字[2020]201Z0025 号《 ...

证券代码：300898 证券简称：熊猫乳品 公告编号：2024-060 熊猫乳品集团股份有限公司 第四届董事会第十次会议决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确、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 熊猫乳品集团股份有限公司（以下简称"公司"）第四届董事会第十次会议 于 2024 年 12 月 13 日（星期五）在公司会议室以通讯的方式召开。会议通知已 于 2024 年 12 月 6 日通过邮件的方式送达各位董事。本次会议应出席董事 9 人， 实际出席董事 9 人。 会议由董事长 LI DAVID XI AN（李锡安）先生主持。会议召开符合《中华人 民共和国公司法》（以下简称"《公司法》"）《中华人民共和国证券法》有关 法律、法规、规章和《熊猫乳品集团股份有限公司章程》（以下简称"《公司章 程》"）的规定。 二、董事会会议审议情况 经与会董事认真审议，充分讨论，审慎表决，会议审议通过了以下议案： （一）审议通过《关于使用部分闲置募集资金及自有资金进行现金管理的议 案》 经与会董事审议，同意公司在确保不影响公司正常运营和募集资金投资项目 建设的情况下，使用闲置 ...