NHD(SZ:002946) 2 1 Shi Ji Jing Ji Bao Dao·2025-07-03 00:09Core Viewpoint - Liu Chang, daughter of Liu Yonghao, is reducing her stake in New Dairy, with the controlling shareholder Universal Dairy Limited planning to sell up to 25,820,305 shares, representing 3% of the total share capital, due to "corporate funding needs" [2][4]. Group 1: Shareholding and Management - Liu Chang holds 65.07% of New Dairy through Universal Dairy Limited, while Liu Yonghao holds 15.41% through New Hope Investment Group, making them the actual controllers of the company [3][4]. - The reduction in shareholding is not expected to significantly impact the ownership structure of New Dairy [4]. - Liu Chang is actively involved in various leadership roles within the New Hope Group and has been recognized for her efforts in the company [5]. Group 2: Financial Performance - New Dairy reported a revenue of 106.65 billion yuan in 2024, a decrease of 2.93% year-on-year, primarily due to the exclusion of revenue from a joint venture [8]. - The company's liquid milk revenue increased by 0.83% to 98.36 billion yuan in 2024, despite the overall revenue decline [8]. - In the first quarter of 2025, New Dairy's revenue grew by 0.42% to 26.25 billion yuan, with a net profit of 1.33 billion yuan, marking a 48.46% increase year-on-year [10]. Group 3: Market Strategy and Outlook - New Dairy aims to double its net profit over the next five years, focusing on growth despite a contraction in the dairy market [6][10]. - The company is transitioning from a focus on low-temperature fresh milk and yogurt to a broader beverage market strategy [10]. - New Dairy is exploring international markets, particularly in Southeast Asia, leveraging resources from the New Hope Group [10].