【突发！#妙可蓝多创始人被免职#】2026年1月25日晚间，妙可蓝多发布公告称，公司副董事长、总经 理以及法定代表人柴琇离任。妙可蓝多行政总经理蒯玉龙接任总经理一职，并担任公司法定代表人。 《中国经营报》记者注意到，柴琇原定任期到期日为2027年11月17日，此次离任原因为"免职"。 不过，妙可蓝多依然在公告中提到："对柴琇女士为公司发展所作出的贡献表示衷心感谢！" 妙可蓝多在公告中表示，公司对并购基金出资形成的其他非流动金融资产，预计存在公允价值变动损 失，预计将对公司净利润造成重大影响。 "考虑所得税等影响因素，上述拟确认公允价值变动损失预计减少公司 2025年度归属于上市公司股东净 利润11911.08万元—12661.08万元。截至2025 年9月30日，公司未经审计的归属于上市公司股东的净利 润为17593.81万元，上述拟确认公允价值变动损失事项，预计不会导致公司2025年归属于上市公司股东 的净利润由正转负。"妙可蓝多在公告中如此表示。 值得关注的是，妙可蓝多同步披露的另一则公告也与柴琇有关。 该公告提到，妙可蓝多参股的上海祥民股权投资基金合伙企业（有限合伙）（以下简称"并购基金"）及 其下属主 ...

2026年1月25日晚间，妙可蓝多发布公告称，公司副董事长、总经理以及法定代表人柴琇离任。妙可蓝 多行政总经理蒯玉龙接任总经理一职，并担任公司法定代表人。 《中国经营报》记者注意到，柴琇原定任期到期日为2027年11月17日，此次离任原因为"免职"。 不过，妙可蓝多依然在公告中提到："对柴琇女士为公司发展所作出的贡献表示衷心感谢！" 业内有声音称，柴琇此次被免职比较突然，或与上述事件有关。 妙可蓝多在公告中表示，公司对并购基金出资形成的其他非流动金融资产，预计存在公允价值变动损 失，预计将对公司净利润造成重大影响。 "考虑所得税等影响因素，上述拟确认公允价值变动损失预计减少公司 2025年度归属于上市公司股东净 利润11911.08万元—12661.08万元。截至2025 年9月30日，公司未经审计的归属于上市公司股东的净利 润为17593.81万元，上述拟确认公允价值变动损失事项，预计不会导致公司2025年归属于上市公司股东 的净利润由正转负。"妙可蓝多在公告中如此表示。 妙可蓝多是我国知名奶酪品牌，也是A股唯一以奶酪为核心业务的上市公司，柴琇是创始人。早在2021 年4月，妙可蓝多拟向蒙牛定增募资不超30 ...

Core Viewpoint - The report from Cinda Securities indicates that Bailong Chuangyuan is expected to achieve record high performance in both 2025 and Q4 2025, driven by further capacity release and continuous growth in sales [1] Industry Summary - The food and beverage market is anticipated to experience a peak in the launch of new products this year, particularly with the introduction of D-alloheptulose, following the adoption of allulose by brands like Nayuki's Tea and Mengniu's UHT probiotic drink [1] - There is a clear global trend towards healthier food options, which is expected to sustain the growth of multiple products offered by the company, while the penetration rate still has room for improvement, indicating potential future growth [1] Company Summary - The company is actively expanding its production capacity both domestically and internationally, which is aimed at supporting global sales and growth while reducing costs [1] - Earnings per share (EPS) projections for the company are set at 0.87, 1.11, and 1.45 yuan for the years 2025, 2026, and 2027 respectively, corresponding to price-to-earnings ratios (PE) of 28X, 22X, and 17X for those years [1] - The company maintains a "buy" rating based on its growth prospects and market positioning [1]

Core Viewpoint - The report from Cinda Securities indicates that Bailong Chuangyuan is expected to achieve record high performance in both 2025 and Q4 2025, driven by further capacity release and continuous growth in sales [1] Industry Summary - The food and beverage market is anticipated to experience a peak in the launch of new products this year, particularly with the introduction of D-alloheptulose, following the adoption of allulose by brands like Nayuki's Tea and Mengniu's probiotic drink [1] - There is a clear global trend towards healthier food options, which is contributing to sustained sales growth for multiple products within the industry, while there remains potential for increased market penetration [1] Company Summary - The company is actively expanding its production capacity both domestically and internationally, which supports its global sales and growth while also focusing on cost reduction [1] - Earnings per share (EPS) projections for the company are estimated at 0.87, 1.11, and 1.45 yuan for the years 2025, 2026, and 2027 respectively, corresponding to price-to-earnings ratios of 28X, 22X, and 17X for those years [1] - The company maintains a "buy" rating based on its growth opportunities in the medium term [1]

Core Insights - The news highlights the decline of high-priced ice cream brands like Zhong Xuegao, which is facing bankruptcy, while affordable ice creams under 10 yuan are dominating the market [4][6]. Group 1: Market Trends - Affordable ice creams are becoming the mainstream in the market, with prices below 10 yuan being the most popular [1][3]. - In various convenience stores and ice cream wholesale shops, the majority of ice creams sold are priced between 1 yuan and 10 yuan, with average prices around 3 yuan [1][3]. - Online platforms also reflect this trend, with many best-selling ice creams priced under 10 yuan, indicating a shift in consumer preference towards lower-priced options [3][4]. Group 2: Company Performance - Zhong Xuegao has recently filed for bankruptcy due to its inability to pay debts, with its products now limited in availability [4]. - Haagen-Dazs, another premium brand, is experiencing a decline in store traffic and has closed several locations, indicating challenges in maintaining its market position [4][6]. - The high profit margins of brands like Haagen-Dazs are becoming unsustainable in the current market environment, as consumers are increasingly opting for lower-priced alternatives that offer similar quality [6]. Group 3: Consumer Preferences - There is a growing demand for healthier ice cream options, with consumers showing interest in low-sugar and plant-based products [7][8]. - Companies are encouraged to innovate and adapt to changing consumer behaviors, focusing on quality and price competitiveness to ensure sustainable growth [7][8]. - The market is shifting towards mid-to-high-end products, with a focus on real quality rather than inflated prices, as consumers become more health-conscious [7][8].

Core Viewpoint - The recent leadership changes at Miaokelando, including the dismissal of founder Chai Xiu and the appointment of Kuai Yulong as the new general manager, are linked to ongoing arbitration related to a merger fund, which may significantly impact the company's financial performance [1][2][3]. Group 1: Leadership Changes - Chai Xiu was dismissed from her positions as vice chairman, general manager, and legal representative on January 23, 2026, due to "removal" rather than voluntary resignation, and she has not fulfilled her public commitments [1]. - Kuai Yulong has been appointed as the new general manager and legal representative, with a term lasting until the end of the twelfth board of directors [1][12]. - Chai Xiu remains the second-largest shareholder with a 14.92% stake, while the largest shareholder, Mengniu Dairy, holds approximately 37% [9]. Group 2: Arbitration and Financial Impact - Miaokelando has initiated arbitration against Chai Xiu due to her failure to fulfill commitments related to a merger fund, which has resulted in financial losses for the company [2][3]. - The company expects to recognize a fair value change loss of 129 million yuan related to its investment in the merger fund, which will significantly impact its net profit [5][6]. - The anticipated fair value change loss is expected to reduce the company's net profit for 2025 by 119 million to 127 million yuan, although it is projected that the net profit will remain positive [7]. Group 3: Company Performance - Miaokelando's main business, cheese sticks, has shown signs of recovery after two years of declining revenue, achieving 3.96 billion yuan in revenue in the first three quarters of 2025, a 10% increase [13]. - The company reported a net profit of 176 million yuan for the first three quarters of 2025, surpassing the total net profit of 114 million yuan for the entire year of 2024 [13].

Core Viewpoint - The recent leadership changes at Miaokelan Duo, including the dismissal of founder Chai Xiu and the appointment of Kuai Yulong as the new general manager, are linked to ongoing arbitration related to a merger fund, which may significantly impact the company's financial performance [2][3][6]. Group 1: Leadership Changes - Chai Xiu was dismissed from her positions as vice chairman, general manager, and legal representative on January 23, 2026, due to "dismissal" rather than voluntary resignation, and she has not fulfilled her public commitments [2][3]. - Kuai Yulong has been appointed as the new general manager and legal representative, with a term lasting until the end of the twelfth board of directors [2][11]. - Chai Xiu remains the second-largest shareholder with a 14.92% stake, while the largest shareholder, Mengniu Dairy, holds approximately 37% [11]. Group 2: Arbitration and Financial Impact - Miaokelan Duo has initiated arbitration against Chai Xiu due to issues related to a merger fund, specifically concerning debts owed by Jilin Yaohua to Inner Mongolia Mengniu Dairy [3][6]. - Chai Xiu had previously committed to compensating the company for any losses arising from the merger fund but has not provided a clear plan for fulfilling this commitment [4][5]. - The company anticipates significant fair value changes in its non-current financial assets related to the merger fund, estimating a loss of 129 million yuan, which could reduce the net profit for 2025 by 119 million to 127 million yuan [7][8]. Group 3: Company Performance - Miaokelan Duo's revenue for the first three quarters of 2025 reached 3.96 billion yuan, marking a 10% increase, with a net profit of 176 million yuan, surpassing the total net profit of 114 million yuan for 2024 [13]. - Despite the leadership changes and ongoing arbitration, the company is expected to maintain a positive net profit for 2025 [9].

Core Viewpoint - The recent leadership changes at Miaokelando, including the dismissal of founder Chai Xiu and the appointment of Kuai Yulong as the new general manager, are linked to ongoing arbitration related to a merger fund, which may significantly impact the company's financial performance [1][2][3]. Group 1: Leadership Changes - Chai Xiu was dismissed from her positions as vice chairman, general manager, and legal representative on January 23, 2026, due to "dismissal" rather than voluntary resignation, and she has unfulfilled public commitments [1]. - Kuai Yulong has been appointed as the new general manager and legal representative, with a term lasting until the end of the twelfth board of directors [1]. - Chai Xiu remains a significant shareholder, holding 14.92% of the company, while the largest shareholder, Mengniu Dairy, holds approximately 37% [6]. Group 2: Arbitration and Financial Impact - Miaokelando has initiated arbitration against Chai Xiu due to her failure to fulfill commitments related to a merger fund, which has resulted in financial liabilities for the company [2][3]. - The company anticipates recognizing a fair value change loss of 129 million yuan related to the merger fund investments, which is expected to significantly impact net profit [4]. - The estimated loss from the fair value change is projected to reduce the company's net profit for 2025 by 119 million to 127 million yuan [4]. Group 3: Financial Performance - For the first three quarters of 2025, Miaokelando reported revenue of 3.96 billion yuan, a 10% increase, and a net profit of 176 million yuan, surpassing the total net profit of 114 million yuan for 2024 [8]. - As of September 30, 2025, the company's unaudited net profit was 176 million yuan, and the anticipated fair value change loss is not expected to turn the net profit negative [5].

| 姓名 | | 离任 职务 | 离任 时间 | 顾定任期 到期日 | 腐任 原因 | 是否继续在 上市公司 体 及其控股子公司 职 | 是否存在 未履行完毕的 | | --- | --- | --- | --- | --- | --- | --- | --- | | | (一)提前离任的基本情况 | | | | | | 从工通常 | | 柴琇被免职或与妙可蓝多同时披露的公允价值变动相关。妙可蓝多在公告中指出，其参股的并购基金因 | | --- | 担保的债务人逾期未偿债而无法清算分配，导致公司投资面临损失风险。公司已正式向上海国际经济贸 易仲裁委员会提起仲裁，要求未能履行补偿承诺的原实控人柴琇进行赔偿。 1月26日，妙可蓝多连发多个公告，创始人柴琇被免去副董事长及总经理职务，仍在公司任非独立董 事；同时聘任蒯玉龙为公司总经理。 妙可蓝多于2026年1月23日召开董事会会议，审议通过了关于拟确认公允价值变动的议案。核心内容涉 及公司对参股并购基金及底层资产的投资价值进行重估，预计将减少公司2025年度归属于上市公司股东 的净利润约1.19亿元至1.27亿元。 资料显示，蒯玉龙现任公司董事、财务总监，本次聘任后 ...

Core Viewpoint - The 11th Bio-based Conference and Exhibition (Bio-based 2026) will be held from May 20-22, 2026, in Shanghai, China, focusing on promoting green and low-carbon transformation in the industry through various forums and activities [1][15]. Group 1: Event Overview - Bio-based 2026 will feature 10 major upstream and downstream thematic forums, 9 concurrent activities, over 1000 new product displays, and an innovation award ceremony [1][9][15]. - The event aims to facilitate discussions on industry trends, technological innovations, and sustainable practices among industry leaders and brands [1][10]. Group 2: Key Forums and Topics - The event will include forums on critical chemical products and materials, international cooperation, and bio-based materials for packaging, footwear, and automotive applications [10][11][15]. - Specific topics will cover sustainable packaging innovations, carbon reduction practices in various consumer sectors, and the development of biodegradable materials [4][8][11]. Group 3: Participants and Collaborators - Notable participants include global brands and packaging solution companies such as McDonald's, L'Oréal, and Mengniu, as well as bio-based and biodegradable material companies like NatureWorks and 金发科技 [5][6]. - The forums will invite industry leaders from various sectors to discuss collaboration and innovation in sustainable packaging [1][5]. Group 4: Concurrent Activities - Concurrent activities will include a high-level strategic seminar, product and technology release events, and a standard review meeting for bio-based materials [12][15]. - The 4th DT New Leaf Award will also take place, recognizing innovations in materials and applications [15].