Summary of Inner Mongolia Qishi Dairy Group Co., Ltd. Conference Call Company Overview - Inner Mongolia Qishi Dairy Group Co., Ltd. was established on May 28, 2007, and listed on the Beijing Stock Exchange on October 13, 2023 [1] - The company has over 20 years of development, focusing on a comprehensive production model that integrates grass, corn, and beet planting, dairy farming, and the production and sales of organic fresh milk and dairy products, as well as white sugar and its by-products [1] Key Business Metrics - The company has approximately 1,200 breeding cows, producing around 350 tons of fresh milk daily [2] - The dairy production facility has over 20 production lines for milk powder, yogurt, pasteurized milk, dairy drinks, and cream, capable of processing 1,500 tons of fresh milk daily [2] - The modern sugar factory can process 5,000 tons of beets daily, with an annual production capacity of 100,000 tons of white sugar [2] - In 2024, the company plans to acquire approximately 650,000 tons of beets [2] Industry Insights - The dairy product manufacturing industry has a long supply chain, including feed, dairy farming, processing, and sales, requiring high integration among various segments [2] - The market share is highly concentrated among leading national brands, with regional strong brands dominating local markets [3] - There is a significant gap in per capita dairy consumption in China compared to other countries, indicating substantial market potential [3] Financial Performance - As of December 31, 2024, the company had 8,410 registered shareholders and a total share capital of 209,053,000 shares, with the top 10 shareholders holding 55.35% of the total shares [4] - The company raised funds totaling approximately 223.4 million yuan for investment projects in 2024 [4] - The company faced challenges in 2024, including a decline in sales prices for mid-range products, particularly fresh milk, which negatively impacted overall profitability [5] - Adverse weather conditions led to lower sugar content in raw materials, increasing production costs and reducing gross margins [5] Risk Management - The company engaged in futures trading to mitigate risks from upstream raw material and downstream product price fluctuations, but faced significant losses due to market risks [5] - The overall downturn in the livestock industry resulted in lower cattle prices, leading to substantial losses from cattle disposals [5] Liquidity and Solvency - The liquidity ratios indicate a current ratio of 0.73 and a quick ratio of 0.34, with a debt-to-asset ratio of 61.85% [6] - Operating profit growth rate for 2024 decreased by 82.56% year-on-year [6] - Cash flow from operating activities was 190 million yuan, with a net decrease in cash and cash equivalents of 194 million yuan [6] - The company's market capitalization decreased from 1.794 billion yuan at the beginning of the year to 1.468 billion yuan by the end of 2024 [6]

证券简称： 骑士乳业 证券代码： 832786 内蒙古骑士乳业集团股份有限公司 内蒙古自治区包头市九原区建华南路 1 号天福广场 2 号楼 B 座 22 层 内蒙古骑士乳业集团股份有限公司招股说明书 本次股票发行后拟在北京证券交易所上市，该市场具有较高的投资风险。北京证券交易所主 要服务创新型中小企业，上市公司具有经营风险高、业绩不稳定、退市风险高等特点，投资者面 临较大的市场风险。投资者应当充分了解北京证券交易所市场的投资风险及本公司所披露的风险 因素，审慎作出投资决定。 (住所：内蒙古自治区呼和浩特市武川县腾飞大道 1 号四楼） 二零二三年九月 1-1-1 中国证监会和北京证券交易所对本次发行所作的任何决定或意见，均不表明其对注册 申请文件及所披露信息的真实性、准确性、完整性作出保证，也不表明其对发行人的盈利 能力、投资价值或者对投资者的收益作出实质性判断或者保证。任何与之相反的声明均属 虚假不实陈述。 根据《证券法》的规定，股票依法发行后，发行人经营与收益的变化，由发行人自行 负责；投资者自主判断发行人的投资价值，自主作出投资决策，自行承担股票依法发行后 因发行人经营与收益变化或者股票价格变动引致的投资 ...

8yue 证券简称： 骑士乳业 证券代码： 832786 内蒙古自治区包头市九原区建华南路 1 号天福广场 2 号楼 B 座 22 层 内蒙古骑士乳业集团股份有限公司 本公司的发行申请尚未经中国证监会注册。本招股说明书申报稿不具有据以发行股票的法律 效力，投资者应当以正式公告的招股说明书全文作为投资决定的依据。 本次股票发行后拟在北京证券交易所上市，该市场具有较高的投资风险。北京证券交易所主 要服务创新型中小企业，上市公司具有经营风险高、业绩不稳定、退市风险高等特点，投资者面 临较大的市场风险。投资者应当充分了解北京证券交易所市场的投资风险及本公司所披露的风险 (住所：内蒙古自治区呼和浩特市武川县腾飞大道 1 号四楼） 二零二三年八月 1-1-1 内蒙古骑士乳业集团股份有限公司招股说明书（申报稿） 因素，审慎作出投资决定。 中国证监会和北京证券交易所对本次发行所作的任何决定或意见，均不表明其对注册 申请文件及所披露信息的真实性、准确性、完整性作出保证，也不表明其对发行人的盈利 能力、投资价值或者对投资者的收益作出实质性判断或者保证。任何与之相反的声明均属 虚假不实陈述。 根据《证券法》的规定，股票依法发行后， ...

证券简称： 骑士乳业 证券代码： 832786 内蒙古自治区包头市九原区建华南路 1 号天福广场 2 号楼 B 座 22 层 内蒙古骑士乳业集团股份有限公司 内蒙古骑士乳业集团股份有限公司招股说明书（申报稿） 本公司的发行申请尚未经中国证监会注册。本招股说明书申报稿不具有据以发行股票的法律 效力，投资者应当以正式公告的招股说明书全文作为投资决定的依据。 本次股票发行后拟在北京证券交易所上市，该市场具有较高的投资风险。北京证券交易所主 要服务创新型中小企业，上市公司具有经营风险高、业绩不稳定、退市风险高等特点，投资者面 临较大的市场风险。投资者应当充分了解北京证券交易所市场的投资风险及本公司所披露的风险 因素，审慎作出投资决定。 (住所：内蒙古自治区呼和浩特市武川县腾飞大道 1 号四楼） 二零二三年七月 1-1-1 中国证监会和北京证券交易所对本次发行所作的任何决定或意见，均不表明其对注册 申请文件及所披露信息的真实性、准确性、完整性作出保证，也不表明其对发行人的盈利 能力、投资价值或者对投资者的收益作出实质性判断或者保证。任何与之相反的声明均属 虚假不实陈述。 根据《证券法》的规定，股票依法发行后，发行人经营 ...