北京商报讯（记者 孔文燮）9月3日，蒙牛乳业在港交所发布公告称，当日在香港斥资约1043.4万港元回 购70万股，每股回购价在14.87至14.95港元。 ...

北京商报讯(记者孔文燮)9月3日，北京商报记者获悉，天润乳业（600419）发布公告称，2025年9月2 日，新疆天润乳业股份有限公司之全资子公司新疆天澳牧业有限公司收到政府补助约968万元，为与收 益相关的政府补助，占公司2024年度经审计归属于上市公司股东的净利润的22.17%。 ...

周庄/文 伊利在市场变化中持续扩大领先身位。 该公司近期披露的财报显示，上半年，伊利营业总收入达619.33亿元，同比增长3.37%；扣非归母净利润70.16亿元，同比增长31.78%。如此业 绩，再创历史新高，稳居亚洲乳业第一。 8月28日，荷兰合作银行（Rabobank）发布2025年全球乳业20强榜单。榜单上，伊利稳居全球乳业五强、连续12年蝉联亚洲乳业第一，再次成 为唯一进入全球五强的中国乳企，持续向世界传递中国乳企的硬核实力。 此种业绩，在当下实属不易。 伊利能在市场波动中保持增长的原因是，找到了稳健的第二曲线，这在业内堪称卓越。 奶粉"大满贯" 上半年，伊利营收619.33亿元，这一成绩甩行业第二名203亿元。 伊利绝对领先的背后，是进一步提升业务均衡优势，以三大梯队业务矩阵，构筑穿越周期的确定性力量。上半年，伊利液体乳收入为361.3亿 元，奶粉及奶制品同比增长14.3%至165.78亿元，冷饮收入同比增长12.4%至82.3亿元。 作为伊利重点布局和培育的第二增长曲线，奶粉业务逆势爆发。其双位数增长动力，来自婴幼儿奶粉业务的历史性突破。尼尔森与星图数据显 示，在婴幼儿奶粉市场，伊利集团市场份额 ...

Group 1 - The Chinese dairy market is in a recovery phase as of mid-2025, with major companies like Yili, Mengniu, and China Feihe leading in market capitalization [1] - Among the top five companies, four have revenues exceeding 10 billion yuan, with Yili at 61.3 billion yuan and Mengniu at 41.6 billion yuan [2] - Most companies have experienced a decline in revenue and net profit, with China Feihe's revenue down by 9.98% and net profit down by 46.66% [3][4] Group 2 - The overall market is facing pressure, particularly in the ambient liquid milk segment, as consumer preferences shift towards fresh products [5][6] - Price competition is intensifying, with smaller regional companies capturing market share from larger brands [7][8] - Despite revenue declines in liquid milk, some brands like New Dairy have seen growth in high-end product lines, indicating a shift in consumer demand [11] Group 3 - The dairy industry is experiencing a shift towards low-temperature fresh milk, which is gaining popularity over traditional ambient milk [16][20] - Companies are diversifying their product offerings to reduce reliance on liquid milk, with Yili and Mengniu seeing a decrease in the proportion of liquid milk revenue [14][15] - The infant formula segment is becoming increasingly competitive, with Yili and Feihe both claiming the top market share, although their statistics differ [23][24] Group 4 - Government policies, such as child-rearing subsidies, are stimulating demand for infant formula, contributing to revenue growth for several companies [27][28] - High-end infant formula products are gaining traction, with parents willing to spend more on quality, driving market prices upward [30] - Companies are increasingly focusing on B2B markets, with significant growth potential in sectors like food service and coffee [31][32] Group 5 - Major dairy companies are forming strategic partnerships with coffee and tea brands to enhance product sales, indicating a shift towards B2B collaborations [37][40] - The B2B market for dairy products, particularly high-end cream and cheese, is becoming a new growth engine for the industry [40]

2025年上半年，伊利实现营业总收入619.33亿元，同比增长3.37%；扣非归母净利润为70.16亿元，同比增长31.78%。从伊利发布的半年报看，稳定基本盘、 强化优势业务以及用创新拉动新增量，是伊利保持稳定增长的背后推动力，也为处于调整期的乳制品行业提供了"抗周期、谋增长"的实践范本。 伊利股份（600887.SH，下称"伊利"）于8月28日发布了2025年半年报。上半年，伊利实现营业总收入619.33亿元，同比增长3.37%；扣非归母净利润为70.16 亿元，同比增长31.78%。在地缘政治导致进出口不确定增强，终端消费复苏缓慢等挑战之下，伊利交出了持续增长的成绩单。 从伊利发布的半年报看，稳定基本盘、强化优势业务以及用创新拉动新增量，是伊利保持稳定增长的背后推动力，也为处于调整期的乳制品行业提供了"抗 周期、谋增长" 的实践范本。伊利在产品创新、渠道变革与全球化布局上的突破，推动行业从 "规模竞争" 向 "价值竞争" 加速转型，为产业链上下游协同发 展注入强劲动能。 具体来看，明星大单品安慕希零售额连续多年稳居常温酸奶第一位；功能奶第一品牌"舒化"、谷物奶代表品牌"谷粒多"、高端风味奶品牌"味可滋" ...

2025年上半年，伊利实现营业总收入619.33亿元，同比增长3.37%；扣非归母净利润为70.16亿元，同比增长31.78%。从伊利发布的半年报看，稳定基本 盘、强化优势业务以及用创新拉动新增量，是伊利保持稳定增长的背后推动力，也为处于调整期的乳制品行业提供了"抗周期、谋增长"的实践范本。 伊利股份（600887）（600887.SH，下称"伊利"）于8月28日发布了2025年半年报。上半年，伊利实现营业总收入619.33亿元，同比增长3.37%；扣非归母 净利润为70.16亿元，同比增长31.78%。在地缘政治导致进出口不确定增强，终端消费复苏缓慢等挑战之下，伊利交出了持续增长的成绩单。 从伊利发布的半年报看，稳定基本盘、强化优势业务以及用创新拉动新增量，是伊利保持稳定增长的背后推动力，也为处于调整期的乳制品行业提供 了"抗周期、谋增长" 的实践范本。伊利在产品创新、渠道变革与全球化布局上的突破，推动行业从 "规模竞争" 向 "价值竞争" 加速转型，为产业链上下游 协同发展注入强劲动能。 三大业务亮点 从半年报看，液体乳业务一直是伊利的基本盘。今年上半年，该业务实现营业收入361.26亿元，全品类稳居行业 ...

2025年上半年，伊利实现营业总收入619.33亿元，同比增长 3.37%；扣非归母净利润为70.16亿元，同比增长31.78%。 从伊利发布的半年报看，稳定基本盘、强化优势业务以及用创 新拉动新增量，是伊利保持稳定增长的背后推动力，也为处于 调整期的乳制品行业提供了"抗周期、谋增长"的实践范本。 作者： 小满 封图：图片资料室 伊利股份（ 600887.SH ，下称"伊利"）于 8 月 28 日发布了 2025 年半年报。上半年，伊利实现营业总收入 619.33 亿元，同比增长 3.37% ； 扣非归母净利润为 70.16 亿元，同比增长 31.78% 。在地缘政治导致进出口不确定增强，终端消费复苏缓慢等挑战之下，伊利交出了持续增长的成 绩单。 从伊利发布的半年报看，稳定基本盘、强化优势业务以及用创新拉动新增量，是伊利保持稳定增长的背后推动力，也为处于调整期的乳制品行业提供了 "抗周期、谋增长" 的实践范本。伊利在产品创新、渠道变革与全球化布局上的突破，推动行业从 "规模竞争" 向 "价值竞争" 加速转型，为产业链上 下游协同发展注入强劲动能。 三大业务亮点 具体来看，明星大单品安慕希零售额连续多年稳居常温 ...

蒙牛乳业(02319)发布公告，该公司于2025年9月3日斥资1043.39万港元回购70万股股份，每股回购价格 为14.87-14.95港元。 ...

格隆汇9月3日丨蒙牛乳业(02319.HK)发布公告，2025年9月3日耗资1043.39万港元回购70万股，回购价 格每股14.87-14.95港元。 ...

Core Viewpoint - The implementation of the national childcare subsidy system has led to a surge in IPO applications from maternal and infant companies, including Yipin Nutrition Technology (Qingdao) Group Co., Ltd., which has submitted its prospectus for listing on the Hong Kong Stock Exchange [1][13]. Company Overview - Yipin Nutrition was founded by Miao Shanbo, who took over a struggling state-owned factory in Heilongjiang at the age of 32 and transformed it into a profitable enterprise, navigating through the turbulent times of the dairy industry [1][4][5]. - The company has developed its own brand and expanded into overseas markets, reflecting the growth of China's dairy industry and the booming maternal and infant sector [1][7]. Financial Performance - Yipin Nutrition's revenue from 2022 to the first half of 2025 shows a steady increase, with revenues of 14.02 billion, 16.14 billion, 17.62 billion, and 8.06 billion RMB respectively [10][11]. - The gross profit for the same periods was 6.33 billion, 8.05 billion, 8.79 billion, and 4.10 billion RMB, with net profits of 2.27 billion, 1.68 billion, 1.72 billion, and 0.57 billion RMB [10][11]. Market Position - Yipin Nutrition focuses on the production of goat milk powder and special medical purpose formula foods, primarily targeting consumers with high sensitivity to traditional dairy products [8][12]. - The company ranks second in the Chinese goat milk powder market with a market share of 14.0% and also holds a 17.6% market share in the infant formula goat milk powder segment [12][13]. Industry Trends - The recent implementation of the childcare subsidy program is expected to boost the maternal and infant market, with significant growth projected in the coming years [13][14]. - The overall Chinese maternal and infant market is anticipated to reach 5 trillion RMB by 2025, with a potential growth to 10 trillion RMB by 2030 [14]. Future Outlook - Miao Shanbo has ambitious plans for the company, aiming for revenues to reach 30 billion RMB within two years and 30-50 billion RMB in the next 3-5 years [12]. - The company is part of a broader trend of maternal and infant companies seeking IPOs, reflecting a growing interest in high-quality consumer products despite concerns about declining birth rates [15].