Core Viewpoint - Sichuan Jule Food Co., Ltd. has recently completed the guidance acceptance for its IPO application on the Beijing Stock Exchange, marking a significant step after multiple failed attempts in the past [1][5]. Group 1: Company Background - Sichuan Jule Food Co., Ltd. is a subsidiary of Chengdu Jule Enterprise (Group) Co., Ltd., established in 1996, focusing on the dairy beverage and dairy product sectors for over 20 years [1]. - The company has developed a complete industrial chain that includes milk source bases, research and development, production, and market sales, becoming one of the largest dairy enterprises in Southwest China [1]. Group 2: IPO Attempts and Challenges - The company has made four unsuccessful attempts to go public, with internal control deficiencies being a recurring issue highlighted by the Shenzhen Stock Exchange [5][6]. - A significant incident involved the embezzlement of CNY 95.78 million by an employee from 2014 to 2019, which the company failed to detect in a timely manner, leading to regulatory scrutiny and subsequent IPO failures [6]. - The company has also faced questions regarding its research and development expenditures, which are notably low compared to peers, with a research expense ratio of only 0.29% in the first half of 2023 [7]. Group 3: Financial Performance - From 2019 to 2021, the company's revenue grew from CNY 829 million to CNY 1.421 billion, while net profit increased from CNY 111 million to CNY 158 million, indicating a slow growth rate and declining net profit margins [8]. - Projections for 2020 to 2024 show a revenue increase from CNY 994 million to CNY 1.641 billion, with net profit expected to rise from CNY 130 million to CNY 232 million, reflecting a 65.09% increase in revenue over five years [8]. Group 4: Market Dynamics and Future Strategy - Approximately 95% of the company's revenue comes from Sichuan Province, with 70% from Chengdu, indicating a strong regional focus [8]. - The company is shifting its strategy towards yak milk products, aiming to enhance competitiveness in the dairy market, with yak milk identified as a key product for the next 20 years [9][10]. - The yak milk market in China has grown to approximately CNY 2.624 billion, with over 16 million yaks contributing to an annual production of over 900,000 tons [9].

Core Viewpoint - Jule Foods Co., Ltd. has attempted to go public on the Beijing Stock Exchange after failing to list on the Shenzhen Stock Exchange for seven years, indicating a potential improvement in its financial fundamentals and a new strategy for growth [3][6]. Group 1: Company Background - Jule Foods, established in 1985, is a subsidiary of Chengdu Jule Enterprise Group and has been in the dairy industry since 1996, focusing on a complete industrial chain from milk sourcing to production and sales [5]. - The company has developed a significant product line, including its flagship product, "Suanle Milk," which has rapidly expanded its market presence in Sichuan, covering 98% of the county-level markets [5]. Group 2: IPO Attempts - Jule Foods has made five attempts to go public since 2017, facing various challenges including incomplete documentation, regulatory warnings, and financial issues, leading to multiple withdrawals of its IPO applications [6][8]. - The latest attempt to list on the Beijing Stock Exchange has been marked by the completion of its IPO guidance, raising questions about the improvements in its financial metrics [6][8]. Group 3: Financial Performance - The company's revenue has shown a notable increase from 8.29 billion in 2019 to an estimated 16.41 billion by 2024, representing a growth of 65.09% over five years [8]. - However, the net profit margin has fluctuated, with a decrease observed from 13.39% in 2019 to 11.12% in 2021, before showing signs of recovery [8]. - In 2024, Jule Foods is projected to generate 12.40 billion in revenue from Sichuan, accounting for 76.03% of total revenue, indicating a heavy reliance on the regional market [8]. Group 4: Business Structure and Innovation - The company’s main business, dairy beverages, accounted for 58.2% of total revenue in 2024, with a gross margin exceeding 40% [9]. - Jule Foods is exploring innovation through the development of yak milk products, aiming to establish a "second curve" for growth, with the yak milk market in China reaching approximately 2.624 billion in 2023 [11][12]. - The company has registered multiple subsidiaries to enhance its competitive edge in the dairy market, focusing on yak milk as a key product for the next 20 years [11]. Group 5: Market Challenges - Analysts have raised concerns about the sustainability of the dairy beverage market amid changing consumer trends, questioning whether Jule Foods can maintain growth in its core business [10]. - The limited market size for yak milk and the challenging conditions for its production may pose risks to the company's future performance and investor interest [12].

产业融合释放出乘数效应，激发工业发展活力。在拉萨的吞弥现代农业产业园，北京援藏力量推动形成 集种植、养殖、加工、销售于一体的产业体系；在那曲，浙江宁波援藏工作组助力引入现代化制衣工 厂，带动上下游产业协同发展。这种产业融合模式打破了产业间的壁垒，促进了资源高效配置与产业协 同升级。农业为工业提供原料，工业反哺农业实现增值，服务业则贯通全产业链，形成相互促进、良性 循环的发展格局。产业融合发展不仅推动了西藏工业的转型升级，更提升了产业整体竞争力，为西藏经 济高质量发展注入持久活力。 产业援藏是推动西藏经济高质量发展的重要动力。各援藏省市立足西藏特色、聚焦产业提质增效，发挥 政策和资源双优势，积极打造内外发展双动能，与时俱进完善、创新援助模式，实现从"输血式"帮扶 到"造血式"发展，从单一项目支持到全产业链培育的转变，推动雪域高原实现产业兴藏、产业富民，走 上绿色化数字化现代化的高质量发展之路。 产业援藏重在精准发力。西藏清洁能源资源得天独厚，太阳能、风能等蕴藏量巨大，但长期以来受制于 产业链短板，资源优势难以转化为经济优势。这一矛盾在产业援藏的创新实践中找到了突破口。援藏省 市因地制宜，将技术、资金、人才引进西 ...

潮新闻客户端 通讯员 封丽 "快过来看一看，物美价廉的特产过来品尝一下。"5月29日，吴山广场人潮涌动，为期7天的"消费帮扶 e路杭行2025杭州市消费帮扶产销对接系列活动"正式 拉开帷幕。现场2000平方米的展区内，百余家展商齐聚一堂，琳琅满目的特色好物、香气四溢的地方美食，共同勾勒出端午假期的烟火气场景。 多元展区齐亮相，特色风味买不停 为了让市民朋友们拥有更加丰富的体验，主办方精心设计了多个互动区域。在消费帮扶农文旅产品展销区，来自新疆、西藏、四川甘孜广元、恩施等多个对 口地区以及省内山海协作区域的特色农文旅产品集中亮相。新疆孜然羊肉、西藏那曲牦牛奶酪、恩施小土豆……市民们不出杭州就能领略到各地的特色风 味。 配套活动趣味多，互动体验乐无穷 "粽情端午传温暖，消费帮扶艾草香"互动活动也吸引了众多市民参与。大家纷纷在祈福墙上写下端午祝福语，表达美好心愿。宋韵端阳巡礼，不少网友现场 穿着国风汉服打卡，在社交媒体上分享活动的精彩瞬间。 本地综合产品服务展销区汇聚杭州及周边地区的各类优质产品与便民服务，从生鲜水果、粮油干货到服饰鞋帽、便民服务，应有尽有，为市民的生活提供了 更多便利和选择。 "家人们看过来！这个 ...

为加快推进畜牧业高质量发展，四川省起草了《关于促进畜牧业高质量发展的十条措施(征求意见 稿)》，现向社会公开征求意见。其中提到，大力拓展消费市场。拓展国内市场，进一步完善冷链物流 体系，拓宽畜禽产品销售半径，用好各类电商平台，推广新零售、"直播+"等新模式，推动乌金猪、藏 香猪等四川黑猪和牦牛肉(奶)等特色产品进入一线城市餐桌。推动四川畜禽产品出海，将符合出口需要 的畜禽养殖、加工备案基地建设纳入农业国际贸易高质量发展基地予以重点支持，鼓励企业参加"川行 天下"市场拓展，开展"出川达海"等供需对接活动，用好中老班列、西部陆海新通道，推动四川畜禽产 品出口香港、东南亚，提高国际市场拓展能力。 ...