1月19日晚间，均瑶健康（605388）（605388）披露业绩预告，预计公司2025年净亏损1.44亿元至2.16亿元，与上年的净亏0.29亿元相比，亏损规模达上年 的5倍至7.5倍。 其次，公司着力优化业务收入结构，拓展电商、新零售及连锁KA渠道，带来的前置性销售费用及市场费用较去年同期大幅增长；研发费用也有所增加， 这些费用的增长影响利润表现。 此外，由于部分存货资产价格下行、去化周期延长，公司拟对存货计提资产减值准备，预计影响损益3000万元—5000万元；计提信用减值预计影响损益 5000万元到9000万元；商誉减值还将影响1500万元至4500万元。 一边是低迷的业绩表现，一边是公司高管的密集减持。 1月14日，均瑶健康公告5位董监高计划减持公司股份，董事朱晓明、副总经理罗喜悦、副总经理向卫兵、财务负责人崔鹏，以及董事会秘书郭沁，拟在2 月6日至5月5日通过竞价交易合计减持不超过47.49万股，原因均为"个人资金需求"。 1月20日，或受此消息影响，均瑶健康开盘即下跌，盘中跌幅最高达7.1%，最终以7.2元收盘，股价创近半年新低。 作为国内常温乳酸菌领域的首家上市公司，均瑶健康2020年登陆资本市 ...

Core Viewpoint - Hubei Junyao Health Beverage Co., Ltd. reported a revenue of 766 million yuan for the first half of 2025, reflecting a year-on-year growth of 1.38%, with a net profit attributable to shareholders of 7.47 million yuan [1] Group 1: Financial Performance - The company achieved a revenue of 766 million yuan in the first half of 2025, with a net profit of 7.47 million yuan [1] - Revenue from probiotic beverages and foods reached 430 million yuan, contributing to the company's second growth curve [1] - Overseas revenue saw a significant increase of 101.28%, with products now covering over 80 countries and regions [1] Group 2: Business Strategy and Market Expansion - The company is focusing on becoming a global leader in probiotics, emphasizing ecological layout, digital intelligence, and global expansion [1] - Junyao Health is actively expanding its e-commerce and new retail channels, with e-commerce sales increasing by 686.42% year-on-year [1][2] - The company has established partnerships with various retail outlets, including 2,700 Lawson convenience stores and 70 Ole supermarkets in East China [2] Group 3: Research and Development - Research and development expenses increased by 26.18% to 19.82 million yuan in the first half of 2025 [3] - The company expanded its functional strain resource library from over 6,000 to over 50,000 strains, enhancing its technical reserves [3] - Junyao Health successfully developed low-temperature probiotic beverages, filling a gap in the market [3] Group 4: Future Outlook - The company plans to continue focusing on the probiotic sector, aiming to balance growth advantages with short-term profitability improvements [3] - With ongoing efforts in the probiotic industry chain and global market expansion, the company is expected to achieve greater success and provide substantial returns to shareholders [3]