龙源电力(00916)发布公告，公司已于2025年10月24日完成公司超短期融资券发行。本超短期融资券发 行总额为人民币25亿元，期限为179天，单位面值为人民币100元，票面利率为1.67%。利息自2025年10 月27日起开始计算。 本超短期融资券由中国光大银行股份有限公司作为主承销商公开发售。本超短期融资券所募集资金拟用 于置换存量有息债务及补充流动资金。 ...

Core Viewpoint - In the first half of the year, Yili Co., Ltd. has returned to a growth trajectory in revenue, primarily driven by the performance of milk powder, dairy products, and frozen products, despite a continued decline in liquid milk revenue [1][3]. Financial Performance - Yili achieved operating revenue of 61.78 billion yuan, a year-on-year increase of 3.49%, with Q1 and Q2 revenues of 33.02 billion yuan and 28.91 billion yuan, respectively [3][4]. - The net profit attributable to shareholders was 7.2 billion yuan, down 4.39% year-on-year, with Q1 and Q2 profits of 4.87 billion yuan and 2.33 billion yuan, showing a quarterly improvement [3][4]. - The net profit excluding non-recurring gains and losses saw a significant increase of 31.78%, reaching 7.02 billion yuan [4][12]. - Operating cash flow decreased significantly, with a net inflow of 2.96 billion yuan, down 44.34% year-on-year, primarily due to a decline in advance payments from distributors [12][13]. Product Performance - Liquid milk revenue continued to decline, accounting for nearly 65% of total revenue in 2024, with a decrease of 12.32% year-on-year last year and a 2.06% decline in the first half of this year [6][7]. - In contrast, revenue from milk powder and dairy products increased by 14.26% to 16.58 billion yuan, while frozen products grew by 12.39% to 8.23 billion yuan, maintaining the top market share [7][8]. - The market share for infant formula reached 18.1%, up 1.3 percentage points year-on-year, while adult milk powder market share increased to 26.1%, up 1.8 percentage points [8][9]. Debt and Financing - The company has a short-term interest-bearing debt of approximately 55.2 billion yuan and has conducted 11 financing rounds this year to meet short-term cash flow needs [1][12]. - Yili has frequently engaged in short-term financing, issuing a total of 60 billion yuan in short-term financing notes in February and additional issuances throughout the year [17][19]. - The company’s total cash and short-term investments amount to approximately 36.74 billion yuan, but the debt pressure remains significant with short-term borrowings and liabilities totaling 55.2 billion yuan [14][21]. Market Position - As of September 4, Yili's stock price was 28.16 yuan per share, with a total market capitalization of 178.1 billion yuan and a TTM price-to-earnings ratio of 21.93, indicating a relatively high valuation [22].

证券代码：000875 证券简称：吉电股份 公告编号：2025-058 吉林电力股份有限公司 关于 2025 年度第一期超短期融资券 发行情况的公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整， 没有虚假记载、误导性陈述或重大遗漏。 根据中国银行间市场交易商协会核发的《接受注册通知书》（中 市协注〔2025〕SCP196 号） ，中国银行间市场交易商协会接受吉林电 力股份有限公司（以下简称"公司"）发行超短期融资券，注册金额 为人民币 40 亿元，注册额度自通知书落款之日起 2 年内有效，在注 册有效期内可分期发行。具体内容详见公司 2025 年 7 月 31 日刊载于 巨潮资讯网（www.cninfo.com.cn）、 《中国证券报》《上海证券报》及 《证券时报》的《关于公司超短期融资券获得注册的公告》 （2025-053） 公司于 2025 年 8 月 18 日完成了"吉林电力股份有限公司 2025 年度第一期超短期融资券" （以下简称"本期超短期融资券" ）的发行。 本期超短期融资券的发行额为 7 亿元人民币，期限为 120 天，票面利 率为 1.67%。2025 年 8 月 19 日，本 ...

Core Points - The company, Jidian Co., Ltd. (000875.SZ), has received a registration notice from the China Interbank Market Dealers Association for its ultra-short-term financing bonds [1] - The registered amount for the ultra-short-term financing bonds is set at 4 billion RMB, valid for two years from the date of the notice [1] - The joint lead underwriters for this financing are Industrial and Commercial Bank of China and China Development Bank [1]