Group 1: Yanjing Beer - Yanjing Beer reported a revenue growth of 6.69% to 3.827 billion yuan in Q1 2025 [1] - The net profit attributable to shareholders increased by 61.1% to 165 million yuan [1] - The company achieved beer sales of 995,000 kiloliters, with the flagship product Yanjing U8 maintaining a growth rate of over 30% [1] Group 2: Shunxin Agriculture - Shunxin Agriculture's revenue decreased by 13.85% to 9.126 billion yuan in 2024 [2] - The net profit attributable to shareholders increased by 178.20% to 231 million yuan [2] - Low-end liquor revenue grew by 5.08% to 4.974 billion yuan, while high-end and mid-range liquor revenues saw declines [2] Group 3: Danone - Danone's Q1 2025 revenue grew by 4.3% to 6.844 billion euros [3] - Sales in China, North Asia, and Oceania increased by 9.9%, driven by volume and product mix [3] - The infant formula segment, particularly the Essensis series, continued to expand market share [3] Group 4: Miaokelando - Miaokelando reported a Q1 revenue growth of 6.26% to 1.233 billion yuan [4] - The net profit attributable to shareholders increased by 114.88% to 82.4 million yuan [4] - The company plans to innovate children's cheese products for older age groups while continuing to develop adult cheese products [4] Group 5: Baolingbao - Baolingbao's total revenue for 2024 was 2.402 billion yuan, a decrease of 4.84% [5] - The net profit attributable to shareholders increased by 105.97% to 111 million yuan [5] - Key products such as prebiotics and dietary fibers saw significant revenue growth [5] Group 6: Muyuan Foods - Muyuan Foods reported a Q1 revenue of 36.061 billion yuan, a year-on-year increase of 37.26% [6] - The company achieved a net profit of 4.491 billion yuan, marking a turnaround from losses [6] Group 7: Ziyuan Foods - Ziyuan Foods plans to invest 70 million yuan in its subsidiary and up to 35 million USD in Green Tea Group's IPO [7] Group 8: Qiaqia Foods - Qiaqia Foods reported a revenue of 7.131 billion yuan in 2024, a growth of 4.79% [8] - The net profit attributable to shareholders was 849 million yuan, an increase of 5.82% [8] - The company expanded its e-commerce channels and overseas markets, achieving significant growth [9] Group 9: Yanjinpuzi - Yanjinpuzi's revenue increased by 28.89% to 5.304 billion yuan in 2024 [10] - The net profit attributable to shareholders grew by 26.53% to 640 million yuan [10] - The company focused on six core product categories and achieved significant supply chain improvements [10] Group 10: Hengshun Vinegar - Hengshun Vinegar reported a revenue of 2.196 billion yuan, a 4.25% increase [11] - The net profit attributable to shareholders increased by 46.54% to 127 million yuan [11] - The company implemented cost reduction and efficiency improvement measures [11] Group 11: Kemin Foods - Kemin Foods announced the election of Chen Hong as the chairman of the board [12] Group 12: Gaoxin Retail - Gaoxin Retail expects a tax profit of approximately 350 to 400 million yuan for the fiscal year ending March 31, 2025, a significant improvement from a loss of 1.668 billion yuan [13] - The improvement is attributed to stable sales growth and effective cost reduction measures [13] Group 13: Bubugao - Bubugao reported a Q1 revenue of 1.153 billion yuan, a year-on-year increase of 24.22% [14] - The net profit attributable to shareholders was 119 million yuan, reflecting a growth of 488.44% [14]

Core Points - Danone's Shareholders' Meeting approved all resolutions, including financial statements for the 2024 fiscal year and a dividend distribution of €2.15 per share, reflecting a 2.4% increase from the previous year [3][4] - The meeting also confirmed the renewal of terms for key executives, including the CEO and independent directors, and highlighted Danone's sustainability strategy and development perspectives [4][6] - Danone continues its global Employee Share Subscription Plan, allowing approximately 85% of its employees worldwide to subscribe to new shares at a 30% discount, reinforcing employee engagement and ownership [6][7] Financial Highlights - 72.66% of Danone's total outstanding share capital was present or represented at the Shareholders' Meeting [2] - The dividend of €2.15 per share will be payable on May 7, 2025, with the ex-dividend date set for May 5, 2025 [3] - Danone generated €27.6 billion in sales in 2023, indicating strong market performance [7] Strategic Initiatives - Danone's "Renew" strategy aims to restore growth, competitiveness, and long-term value creation [7] - The company is committed to achieving measurable impacts in nutrition, social responsibility, and environmental sustainability [7] - Danone's ambition includes obtaining B CorpTM certification globally by 2025 [7]

Core Insights - Danone (DANOY) is outperforming the Consumer Staples sector with a year-to-date gain of 25.2%, compared to the sector's average return of 7.3% [4] - The Zacks Rank for Danone is 1 (Strong Buy), indicating positive analyst sentiment and an improved earnings outlook, with a 6.4% increase in the consensus estimate for full-year earnings over the past three months [3] - Danone belongs to the Food - Miscellaneous industry, which has an average loss of 0.9% this year, further highlighting Danone's strong performance relative to its peers [6] Industry Overview - The Consumer Staples group consists of 177 companies and currently ranks 8 within the Zacks Sector Rank, which measures the strength of individual sector groups [2] - HF Foods Group Inc. (HFFG) is another stock in the Consumer Staples sector that has shown strong performance, with a year-to-date increase of 24.3% and a Zacks Rank of 2 (Buy) [4][5] - The Food - Miscellaneous industry includes 41 companies and is currently ranked 148 in the Zacks Industry Rank [6]

Q1 2025 SALES Juergen Esser Chief Financial Officer STRONG START TO THE YEAR DEMONSTRATING THE RELEVANCE OF OUR HEALTH-FOCUSED PORTFOLIO Another quarter of quality growth +4.7% +4.3% +4.2% +4.1% +4.0% +1.9% Vol/mix +2.4% Price Q1 25 Q2 24 Q4 24 Q1 24 Q3 24 Note: all data in like-for-like 2 STRONG START TO THE YEAR BROAD-BASED GROWTH ACROSS GEOGRAPHIES | | EUROPE | +2.0% | | --- | --- | --- | | | NORTH AMERICA | +3.7% | | | CHINA, NORTH ASIA & OCEANIA | +9.9% | | +4.3% | LATIN AMERICA | +9.0% | | Q1 2025 LFL ...

Mathilde Rodie Thank you and good morning, everyone. Thank you for being with us this morning for our Q1 Sales Call. I’m with Juergen Esser, our CFO, who will go through some prepared remarks before taking your questions. And before we start, I would like to draw your attention to our disclaimer on Page 19 related to forward-looking statements and the definition of financial indicators that we will refer to during the presentation. And with that, let me hand over to Juergen. Juergen Esser Thank you, Mathild ...

Core Insights - Danone reported a Q1 2025 sales revenue of €6.844 billion, reflecting a year-on-year growth of 4.3% driven by a 1.9% increase from volume and mix, and a 2.4% increase from pricing [1] - The CEO highlighted the strong start across all product categories and emphasized the company's resilience through a science-based approach and diversified channel strategy [1] Regional Performance - Sales in the Asia-Pacific region, including China, grew by 9.9%, with volume and mix contributing 10.4% to growth, while pricing had a slight decline of 0.5% [1] - In Europe, sales revenue increased by 2%, with volume and mix contributing 1.9% and pricing remaining stable [2] - North America saw a 3.7% increase in sales revenue, with volume and mix contributing 0.9% and pricing contributing 2.8% [2] - Latin America experienced a 9% increase in sales revenue, with volume and mix declining by 2.1% but pricing increasing by 11.1% [2] Business Segment Performance - The specialized nutrition segment reported sales of €2.306 billion, a year-on-year increase of 5.3%, driven by strong demand for infant formula and medical nutrition products [2] - The water and beverage segment achieved sales of €1.156 billion, reflecting a 4.1% year-on-year growth [2] - The dairy and plant-based products segment generated sales of €3.381 billion, with a year-on-year growth of 3.7% [2]

Core Viewpoint - The company has reported a strong start to 2025 with a like-for-like (LFL) sales growth of +4.3%, indicating the effectiveness of its health-oriented portfolio and execution strategy [3][4]. Group 1: First Quarter Sales Performance - Total sales for Q1 2025 reached €6,844 million, reflecting a +4.3% increase on a like-for-like basis, driven by a +1.9% increase in volume/mix and a +2.4% increase in price [4]. - Reported sales increased by +0.8%, impacted negatively by a scope change of -3.0% due to the sale of Horizon Organic and Wallaby, and a forex impact of -0.8% [4][5]. - The company experienced broad-based growth across all categories, with particularly strong performance in China, North Asia & Oceania, and solid growth in North America and Europe [4][6][7][8]. Group 2: Sales by Geography - In Europe, LFL sales grew by +2.0%, supported by a +1.9% increase in volume/mix, achieving positive growth momentum for six consecutive quarters [6]. - North America saw LFL sales increase by +3.7%, driven by strong performance in High Protein products and Medical Nutrition [7]. - China, North Asia & Oceania reported LFL sales growth of +9.9%, with significant contributions from Specialized Nutrition and Waters [8]. - Latin America experienced LFL sales growth of +9.0%, primarily led by the Aptamil brand in Specialized Nutrition [9]. - The Rest of the World had LFL sales growth of +3.3%, with notable performance in EDP and Specialized Nutrition [10]. Group 3: 2025 Guidance and Recent Developments - The company has confirmed its 2025 guidance, expecting LFL sales growth between +3% and +5%, with recurring operating income anticipated to grow faster than sales [12]. - Recent developments include a completed share buyback of €192 million and a successful bond issuance of €800 million, reflecting strong investor confidence in the company's business model [13][14].

Core Viewpoint - The company focuses on energy-saving and environmental protection equipment, contributing to sustainable development and carbon neutrality goals through innovative solutions in various industries [5][39]. Company Overview - The company is dedicated to the research, design, manufacturing, sales, and operation of energy-saving and environmental protection equipment, targeting sectors such as power, heat, chemicals, metallurgy, waste treatment, and new energy [5][28]. - The main products include slag energy-saving treatment systems, flue gas energy-saving treatment systems, full-load denitrification systems, clean energy consumption systems, desulfurization wastewater treatment systems, and steel slag energy-saving treatment systems [5][20]. Business Model - The company operates under two main business models: Engineering Procurement (EP) and Engineering Procurement Construction (EPC), focusing on customized solutions based on client specifications [29][33]. - The procurement strategy emphasizes building a resilient supply chain, utilizing demand-driven procurement and dynamic inventory management to optimize costs and efficiency [30][31]. Industry Situation - The energy-saving and environmental protection industry is a strategic emerging industry, driven by policies and capital to address energy transition and climate change challenges [39][40]. - The industry is experiencing a shift towards cleaner energy systems, with coal power transitioning from a base-load to a flexible power source, supporting renewable energy integration [40][41]. Technological Advancements - The company has developed innovative technologies such as air concentration evaporation technology and smoke-water dual-isolation phase change smoke deep cooling technology, enhancing system stability and efficiency [44][45]. - The integration of digital technologies, including big data and artificial intelligence, is being pursued to optimize energy management and equipment operation in coal-fired power plants [46].

登录新浪财经APP 搜索【信披】查看更多考评等级 截至2024年12月31日，本公司募集资金使用情况为：（1）上述募集资金到账前，截至2021年7月13日 止，公司利用自筹资金对募集资金项目累计已投入500.39万元，募集资金到账后，公司以募集资金置换 预先已投入募集资金投资项目的自筹资金500.39万元；（2）公司累计使用募集资金14,843.06万元，扣 除累计已使用募集资金后，募集资金余额为5,960.76万元，募集资金专用账户利息收入770.32万元（包 含现金管理收益、利息收入扣除手续费支出后的净额），其他支出2.13万元，持有的理财产品余额为 3,000.00万元，募集资金专户2024年12月31日余额合计为2,960.76万元。 截至2024年12月31日，公司募集资金使用及结余情况如下： 单位：人民币万元 ■ 说明：募集资金使用中其他支出系法院执行划扣，截至本报告出具日该款项已归还至募集资金专户。 其中，截至2024年12月31日，公司持有的理财产品明细如下： 单位：人民币万元 ■ 二、募集资金管理情况 根据《中华人民共和国公司法》《中华人民共和国证券法》《上市公司监管指引第2号一一上市公司募 ...

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