Core Viewpoint - The establishment of the Compensation and Assessment Committee aims to enhance the governance structure of Dongpeng Beverage Group Co., Ltd. by developing a comprehensive assessment and compensation management system for directors and senior management [2][3]. Group 1: General Provisions - The Compensation and Assessment Committee is a specialized working body established by the board of directors, responsible for formulating assessment standards and compensation policies for directors and senior management [2]. - The committee consists of three directors, with independent directors holding a majority [4]. - The committee's term aligns with that of the board of directors, and members can be re-elected upon term expiration [3]. Group 2: Responsibilities and Authority - The committee is tasked with developing assessment standards, reviewing compensation policies, and making recommendations on various matters, including compensation for directors and senior management [9]. - The board of directors has the authority to reject any compensation plans that may harm shareholder interests [4]. - Compensation plans for directors require board approval and must be submitted to the shareholders' meeting for approval before implementation [4]. Group 3: Decision-Making Procedures - The committee is responsible for preparing necessary materials for decision-making, including financial indicators and performance evaluations of directors and senior management [6]. - The evaluation process includes self-assessments by directors and senior management, followed by performance evaluations conducted by the committee [6]. Group 4: Meeting Rules - The committee must hold at least one meeting annually, with a quorum of two-thirds of members required for decision-making [7]. - Meetings can be conducted in person or through other means, ensuring all members can communicate effectively [8]. - Meeting records must be maintained for at least ten years, and confidentiality regarding meeting discussions is mandatory [9][10].

Group 1 - The core viewpoint of the article is that Dongpeng Beverage Group plans to engage in foreign exchange derivative trading to manage increasing foreign exchange risks associated with its expanding overseas operations [2][3][6] - The company aims to lock in costs and effectively hedge against foreign exchange market risks to prevent adverse impacts from significant exchange rate fluctuations [2][3] - The trading will involve a total amount not exceeding RMB 700 million (or equivalent foreign currency) at any given time, funded by the company's own or self-raised funds [2][3] Group 2 - The types of foreign exchange derivatives to be traded include but are not limited to currency swaps, foreign exchange forwards, foreign exchange swaps, and foreign exchange options [3] - The trading counterparties will be banks and financial institutions approved by relevant government departments, and no related parties will be involved in these transactions [3] - The board of directors has authorized the chairman or designated personnel to execute the foreign exchange derivative trading business within the specified limits and duration [3] Group 3 - The company will strengthen its research and analysis on exchange rates and adjust its operational strategies in response to market changes to mitigate risks from exchange rate fluctuations [6][7] - The company has established relevant management systems to regulate trading behavior and control risks, ensuring that the trading activities do not harm the interests of the company and its shareholders, especially minority shareholders [7]

关系或一 致行动关系。 | 东鹏饮料（集团）股份有限公司2025 | | | | | | | 年半年度报告摘要 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 公司简称：东鹏饮料 | 公司代码：605499 | | | | | | | | | 东鹏饮料（集团）股份有限公司 | | | | | | | | | | 二〇二五年七月 | | | | | | | | | | 东鹏饮料（集团）股份有限公司2025 | | | | | | 年半年度报告摘要 | | | | 第一节 重要提示 | | | | | | | | | | http://www.sse.com.cn/网站仔细阅读半年度报告全文。 | 展规划，投资者应当到 | | | | | | | | | 完整性，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 | | | | | | | | | | 拟以公司2025年半年度股本总数520,013,000股为基数，向全体股东每10股派25元（含税）， | | | | | | | | | | 共计分派现金红利1,300,0 ...

Core Insights - Dongpeng Beverage reported strong financial performance for the first half of 2025, with revenue reaching 10.737 billion yuan, a year-on-year increase of 36.37%, and net profit attributable to shareholders at 2.375 billion yuan, up 37.22% [1] Group 1: Financial Performance - The company achieved significant growth in both revenue and net profit, indicating the effectiveness of its strategic initiatives [1] - The beverage industry benefited from favorable consumption and domestic demand policies, creating a conducive environment for growth [1] Group 2: Product Diversification - Dongpeng Beverage is accelerating its multi-category strategy, focusing on long-lifecycle and high-potential beverage segments such as electrolyte water and tea drinks [2][3] - The new product "Dongpeng Water" generated revenue of 1.493 billion yuan in the first half of 2025, matching the total sales for 2024, and its revenue share increased to 13.91% [2] - The revenue share of Dongpeng Special Drink decreased to 77.91%, down 9.32 percentage points year-on-year, indicating a shift towards new product lines as growth drivers [2] Group 3: Market Expansion - The company’s national strategy is showing results, with revenue in the northern market increasing by 73.03%, while Guangdong, its traditional stronghold, saw a 20.61% growth [4] - Dongpeng Beverage is transitioning from a regionally strong presence to a balanced national footprint, supported by a robust supply chain and operational efficiency [4] Group 4: Supply Chain and Distribution - The company has established a comprehensive distribution network with over 3,200 distributors, covering more than 4.2 million active retail points, reaching over 250 million unique consumers [5] - The supply chain's depth and flexibility allow for efficient product distribution, enhancing the company's ability to meet market demands [4][5] Group 5: Future Outlook - Dongpeng Beverage plans to continue its multi-category, national, and global strategies, focusing on product innovation, supply chain optimization, and market penetration [6]

东鹏饮料(集团)股份有限公司 2025 年半年度主要经营数据的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 证券代码：605499 证券简称：东鹏饮料 公告编号：2025-049 东鹏饮料（集团）股份有限公司(以下简称"公司")根据上海证券交易所《上 海证券交易所上市公司自律监管指引第 3 号——行业信息披露第十二号——酒 制造》的有关规定，现将公司 2025 年半年度主要经营数据公告如下： 一、主要业务经营情况 (一) 主营业务产品类别分类情况 单位：万元 币种：人民币 | 产品 | 2025 年 | 1-6 月 | 2024 年 1-6 | 月 | | --- | --- | --- | --- | --- | | | 收入 | 占比 | 收入 | 占比 | | 能量饮料 | 836,051.10 | 77.91% | 685,805.64 | 87.23% | | 电解质饮料 | 149,273.84 | 13.91% | 47,583.78 | 6.05% | | 其他饮料 | 87,730.38 | 8.18 ...

东鹏饮料（605499）公告，2025年上半年营业收入107.37亿元，同比增长36.37%。净利润23.75亿元， 同比增长37.22%。拟以公司2025年半年度股本总数5.2亿股为基数，向全体股东每10股派25元(含税)，共 计分派现金红利13亿元。 ...

Core Viewpoint - The ongoing conflict between the siblings of the Wahaha founder, Zong Qinghou, and Zong Fuli over inheritance has roots dating back ten years, highlighting their shared experiences and challenges in the food safety sector [2] Group 1: Background and Context - Ten years ago, Zong Fuli and Zong Jichang united against common challenges, particularly rumors and food safety issues affecting Wahaha, leading Zong Qinghou to advocate for food safety reforms [2] - In 2015, Wahaha's revenue plummeted, with Zong Qinghou attributing a loss of 5 billion yuan to these rumors, which constituted about 10% of that year's revenue [2] Group 2: Education and Research - Zong Jichang studied food science at Cornell University, focusing on the impact of bioactive compounds on cancer cell proliferation, and authored a review on dietary supplement safety [3][4] - During his senior year, Zong Jichang collaborated with peers to develop a sports gel using maple syrup, enhancing its flavor and nutritional value, and named it "Untapped Potential" [4][6] Group 3: Industry Aspirations and Developments - Zong Fuli invested 70 million yuan in establishing the Fuli Food Research Institute at Zhejiang University to cultivate talent in food safety and nutrition [8] - Zong Fuli has launched her beverage brand "KELLYONE," targeting young consumers with personalized juice and zero-calorie tea products, while seeking skilled professionals in the food industry [9] Group 4: Family Dynamics and Legal Disputes - The inheritance dispute over an estimated 1.8 billion yuan trust fund has escalated, with Zong Jichang and his siblings filing lawsuits against Zong Fuli for their share of Wahaha's equity [14][20] - The siblings' educational paths have intertwined, with many graduates from Zong Fuli's funded programs attending prestigious institutions, including Cornell University, where Zong Jichang studied [9][20]

Core Insights - The company aims to achieve an annual sales revenue of 100 billion yuan, a goal set by its founder, but has faced challenges in recent years, with revenue dropping to around 70 billion yuan in 2024 [1][3] - The company is currently dealing with a significant inheritance dispute involving the founder's children, which has created a challenging environment for the new leadership [1][4] - Despite the turmoil, some distributors report that sales have remained stable, although overall performance has not met expectations [5][6] Sales Performance - Following the founder's death, there was a temporary surge in sales, with a reported 500% increase in online sales, but this momentum has not continued into the current year [3][4] - Recent data indicates a significant decline in daily sales on e-commerce platforms, dropping from 10,000-12,000 units to 5,000-7,500 units [5] - Year-on-year comparisons show that many distributors have not experienced significant growth, with some reporting a decline of at least 30% in sales [6][8] Distributor Challenges - Distributors are facing pressure to achieve a 50% increase in sales, a target many believe is unrealistic [10][12] - Some distributors are struggling with inventory issues, selling products at a loss due to price pressures [8][12] - The company has closed 18 production lines this year, impacting its ability to meet demand and maintain sales levels [12][14] Strategic Adjustments - The new leadership is implementing changes to improve distributor support and market responsiveness, including assigning dedicated personnel to assist distributors [10][14] - The company is focusing on enhancing its distribution channels and increasing the visibility of its products in retail spaces [15] - There is a noted lack of new product offerings, which may hinder the company's ability to attract consumer interest and drive sales growth [15]

Core Viewpoint - The article discusses the inheritance battle within Wahaha, China's leading beverage company, focusing on the conflict involving Zong Fuli, the daughter of founder Zong Qinghou, and her half-siblings over a $35 billion estate and control of the company [1][2]. Group 1: Inheritance Dispute - Zong Fuli is facing a lawsuit from three half-siblings who claim rights to $2.1 billion in trust assets and 29.4% of Wahaha's shares, which she currently holds [1]. - The lawsuits are filed in both Hong Kong and Hangzhou, with the Hong Kong case centering on trust contracts and the Hangzhou case on share inheritance [1]. - The outcome of the Hangzhou court's decisions on the familial relationship and the status of the shares as part of the estate is crucial for Zong Fuli's control over Wahaha [1][2]. Group 2: Zong Fuli's Leadership and Strategy - Zong Fuli's leadership faced challenges early on, including a brief resignation due to shareholder concerns about her management, which was interpreted as a strategic move to assert her position [2]. - She has been implementing aggressive reforms since taking over, including appointing executives from her own company, Hongsheng Beverage, to Wahaha and shutting down factories run by her half-siblings [2][3]. - These actions have led to perceptions of Zong Fuli attempting to shift resources away from Wahaha to her own company, raising internal tensions and complaints from employees [3]. Group 3: Future Implications - Zong Fuli holds a will from Zong Qinghou that designates her as the sole heir to overseas assets, but the legitimacy of this will is being challenged by her half-siblings [4]. - If the court recognizes the inheritance rights of the half-siblings, it could lead to a significant restructuring of Wahaha's ownership and governance, potentially destabilizing the company [4]. - The upcoming court hearing on August 1 will be pivotal in determining the future direction of Wahaha and Zong Fuli's control [4].

Core Insights - Zhong Shanshan has regained the title of China's richest person with a net worth of $68.4 billion as of July 25, 2023, surpassing other business leaders like Zhang Yiming [1][2] - The resurgence in Zhong's wealth is attributed to the recovery of Nongfu Spring from a "bottled water crisis" and strategic business investments [1][4] Company Performance - Nongfu Spring's stock price reached a new high of HKD 47.4 per share on July 25, 2023, with a total market capitalization exceeding HKD 530 billion, contributing significantly to Zhong's wealth increase [4] - In 2024, Nongfu Spring's tea beverage segment generated revenue of CNY 16.745 billion, a 32.3% increase year-on-year, surpassing the revenue from bottled water products [5][8] - The revenue from bottled water products dropped from CNY 20.262 billion in 2023 to CNY 15.952 billion in 2024, a decline of 21.3%, marking the first time its revenue share fell below 40% since 2017 [8] Investment Strategy - Zhong Shanshan's investment in Jinbo Biotechnology, amounting to CNY 3.4 billion, is expected to expand his business portfolio, as the company leads in the field of humanized collagen [5][6] - Successful investments, including a profitable venture in a Thai coconut water company, have also bolstered Zhong's financial recovery [6] Market Challenges - The past year posed significant challenges for Zhong, with Nongfu Spring and Wantai Biological Pharmacy experiencing substantial revenue declines due to market pressures and public scrutiny [7][9] - Wantai Biological's revenue fell by 59.25% in 2024, primarily due to a sharp decline in its vaccine segment, which dropped 84.69% year-on-year [9]