均瑶健康收警示函：2024年净亏损2912万元未及时披露，近期高管减持套现354万元

Core Viewpoint - Junyao Health, known as the "first stock of lactic acid bacteria drinks," received a warning letter for failing to timely disclose its performance loss announcement, marking its first loss since going public in 2020 [2][5][10]. Financial Performance - In 2024, Junyao Health reported revenue of 1.458 billion yuan, a year-on-year decline of 10.77%, and a net profit loss of 29.12 million yuan, a year-on-year drop of 150.57% [7][10]. - The loss was primarily attributed to impairment provisions for goodwill (36.43 million yuan), inventory write-downs (12.76 million yuan), and credit impairment losses (36.60 million yuan) [8]. Stock Market Reaction - Despite the poor financial performance, Junyao Health's stock price surged, closing at 12.05 yuan per share on the first trading day after receiving the warning letter, marking a 10.05% increase and a new high for the year [2][13]. - Analysts suggest that the regulatory penalty has removed uncertainty, contributing to the stock's recovery, although there may be emotional or artificial factors influencing the price movements [6][13]. Executive Actions - During the stock price surge, several executives, including directors and supervisors, engaged in concentrated share sell-offs, totaling 383,400 shares and approximately 3.5373 million yuan in cash [4][15]. - The shareholding structure shows significant pledging, with the largest shareholder, Junyao Group, pledging about 151 million shares, accounting for 76.69% of its holdings and 25.11% of the total share capital [19][20].