贝因美盘中跌停，大股东麻烦缠身

Core Viewpoint - Beiyinmei (002570.SZ) has faced significant challenges following a rapid stock price increase driven by favorable fertility policies, which was interrupted by a regulatory notice highlighting compliance issues and financial irregularities [1][2]. Company Issues - Beiyinmei experienced a stock price surge with 5 limit-up days in 7 trading days from April 8 to April 16, but the momentum was halted after receiving a regulatory notice on April 16, leading to a price drop and a limit-down on April 18 [1]. - The regulatory notice indicated non-compliance in revenue recognition and issues related to non-operational fund occupation by the controlling shareholder during 2021 and 2022 [1]. - The controlling shareholder, Beiyinmei Group, is currently facing legal troubles, including a court-ordered freeze on 47.24 million shares, approximately 35.6% of its holdings, due to a debt enforcement request [1][2]. Financial Performance - Beiyinmei Group's shares are at risk of forced execution due to approximately 200 million yuan in debts and interest, which may lead to passive share reductions [2]. - The company has shown signs of recovery, with a reported revenue of 2.09 billion yuan in Q3 2024, representing an 8.9% year-on-year increase, and a net profit of 70 million yuan, up 45.3% year-on-year [5]. - The recent stock price increase was largely influenced by national fertility policies, but competition from other brands like Feihe, Yili, and Junlebao, which have also introduced substantial fertility subsidies, poses a challenge for Beiyinmei [5].