Core Viewpoint - New Hope Dairy is focusing on a "fresh strategy" to drive growth and innovation in the dairy industry, emphasizing high-end products, market penetration, and user engagement [2][3]. Group 1: Company Strategy - The company aims to innovate through a dual-engine approach involving product and channel development, targeting high-end and deep market segments [2][4]. - New Hope Dairy's "fresh strategy" includes a comprehensive framework of "eight fresh" dimensions, covering fresh sourcing, production, orders, delivery, and consumer engagement [4]. - The company has established a strategic partnership with the Norwegian Gene Cow Breeding Association to enhance its product offerings with Norwegian Red Cow milk [4]. Group 2: Financial Performance - In 2024, New Hope Dairy's net profit attributable to shareholders is projected to grow by 24.8%, with a net profit margin of 5.15% [3]. - The company's high-end fresh milk business has seen double-digit growth, with the "24-hour" mid-to-high-end product series revenue increasing by over 15% [3]. Group 3: Market Expansion - New Hope Dairy is pursuing a three-pronged growth strategy, which includes high-end national development, localized market penetration through the "Cool Mountain Snow" brand, and international expansion [6][7]. - The "Cool Mountain Snow" brand has achieved a 75% market share in its local area, demonstrating effective market penetration strategies [6]. Group 4: Innovation and Sustainability - The company is committed to technological and channel innovation to ensure freshness and break through homogenized competition [4][7]. - New Hope Dairy emphasizes the importance of environmental friendliness and health in its product offerings, aiming to create a sustainable and enjoyable lifestyle for consumers [7].

Core Viewpoint - New Hope Dairy is focusing on innovation and consumer demand for fresh and diverse dairy products to navigate the challenges of a slowing market and declining consumption [1][2] Industry Overview - The domestic dairy industry is characterized by intense competition with a trend towards increased concentration among leading companies [2] - In 2024, China's total dairy production is projected to decline to 29.62 million tons, a decrease of 1.9% year-on-year, with liquid milk production experiencing its first drop in five years [2] - Per capita dairy consumption is expected to decrease by 5.6% year-on-year, indicating a shift in consumer behavior towards value and quality [2] Company Strategy - New Hope Dairy is committed to a "fresh strategy" that emphasizes product innovation across various categories, including fresh milk and beverages [3] - The company aims to enhance its competitive edge through the integration of AI and synthetic biology in its production processes [3] - New Hope Dairy's revenue for 2024 is projected at 10.665 billion yuan, a slight decrease of 2.93% year-on-year, while net profit is expected to rise by 24.8% to 538 million yuan [3] Growth Drivers - The company identifies three key growth drivers: high-end product development, deepening market penetration, and international expansion [4][5] - The "24-hour" fresh milk series and local market strategies are expected to contribute significantly to revenue growth, with high-end products seeing over 15% year-on-year revenue increase [5] - New Hope Dairy is also focusing on innovative distribution channels, including partnerships with major retailers and the establishment of fresh milk stores [5] Strategic Partnerships - New Hope Dairy has formed a strategic partnership with the Norwegian Gene Cow Breeding Association to introduce and cultivate Norwegian Red Cattle, enhancing its product offerings [6] - The company has already launched its first Norwegian Red Milk product, which has received positive market feedback [6]

Core Viewpoint - New Dairy Industry (002946) is addressing challenges in the dairy market, including sluggish consumption and growth slowdown, by focusing on innovation and new consumer demands for fresher, more diverse products [1] Group 1: Company Strategy - The chairman of New Dairy Industry, Xi Gang, emphasized the need to move beyond the "involution" of the existing market and seek solutions through innovation and growth [1] - The company will adhere to a "fresh strategy" as its core focus, aiming to build competitive barriers in the food and beverage sector through the integration of industry, AI, and synthetic biology [1] - New Dairy Industry plans to enhance emerging channels and user operations to drive fresh growth [1]