6月10日，新希望乳业2025年投资者大会在成都召开。面对乳品消费增长整体放缓的行业现状，新 希望乳业坚定以"鲜战略"作为企业核心价值，归母净利润连续五年双位数增长，逆势突围展现出难能可 贵的确定性。 新希望乳业董事长席刚表示，公司致力于跳出存量市场的内卷，转而依托消费者更鲜、更美、更多 样的新需求，在创新和增量中寻找发展解法。 "鲜战略"锻造增长韧性 行业数据显示，2024年我国乳制品总产量降至2962万吨，同比减少1.9%，液态奶产量五年来首度 下滑，人均奶类消费量同比下降5.6%，乳品企业发展出现波动分化。中信证券消费产业首席分析师姜 娅表示，中国消费市场总体扩容趋势不会改变，乳品从成长期迈向成熟期，结合行业发展格局，看好具 备成为龙头潜力的优质企业。 2024年是新希望乳业新五年战略规划深化之年，深耕"鲜立方战略"，做大做强低温核心业务，高端 鲜奶同比实现双位数增长，24小时中高端系列同比增长超15%，低温特色酸奶持续增长，初心、活润均 实现双位数增长，2024年归母净利润同比增长24.80%，净利率提升至5.15%，今年一季度净利润同比提 升48.46%。更值得关注的是，新希望乳业经营活动现金流净额 ...

Core Viewpoint - The dairy industry is facing pressure due to slowing demand growth and increased competition, yet New Hope Dairy (002946.SZ) has achieved double-digit profit growth and significant market attention, with revenue surpassing 10 billion yuan [2][3]. Industry Overview - The dairy product industry in China is expected to continue facing challenges in 2024, with total production projected to decline by 1.9% to 29.62 million tons, marking the first drop in liquid milk production in five years. Per capita dairy consumption is also expected to decrease by 5.6% [3]. - Despite these challenges, New Hope Dairy reported a revenue of 10.665 billion yuan and a net profit of 538 million yuan in 2023, reflecting a year-on-year growth of 24.8%, outperforming the industry average [3]. Company Strategy - New Hope Dairy aims to deepen its "Fresh Cube Strategy" in 2024, focusing on expanding its low-temperature core business. High-end fresh milk and mid-to-high-end series products have shown double-digit growth [3][4]. - The company has introduced the "Three Fresh Pillars" strategy, emphasizing the development of low-temperature cold chain beverage products as a new growth point [7]. Market Positioning - New Hope Dairy is capitalizing on the growing demand for high-quality dairy products, with the "24-hour" fresh milk series and local brands like "Liangshan Snow" achieving significant market penetration, particularly in lower-tier cities [8][9]. - The company is also exploring international markets, particularly in Southeast Asia, to find differentiated innovation opportunities and expand its global presence [10]. Innovation and Product Development - New Hope Dairy is committed to product innovation, with a focus on meeting diverse consumer needs through new product lines such as "Active Probiotic" yogurt and "Zero Sugar" fermented milk [6]. - The company has established a global research and development network and is collaborating with international organizations to enhance its product offerings and innovation capabilities [10].