"遇上雅江"不仅是品牌，更是一个平台。雅江县与杭州松鲜鲜自然调味品有限公司签署战略合作协议， 共建标准化原料基地，联合研发新品，打通品牌联名与全国销售渠道，推动"雅江风味"走向更广阔的市 场。此次联盟发布的"松茸产业协作地图"及"人才共育、标准共认、数据共享"倡议，正是"遇上雅江"实 践经验的升华。 雅江素有"中国松茸之乡"的美誉，宛如一座蕴藏丰富的天然菌物宝库。松茸产业联盟的正式成立，不仅 是一项历史性突破，更凝聚了产区协同发展的共识。这一里程碑的背后，"遇上雅江"区域公用品牌同样 起到了推动作用。 作为上雅两地对口支援的标志性成果，"遇上雅江"自2024年8月启动以来不断，打通高原特产"出山入 城"的快车道。品牌在生产端、品牌端、销售端三方面聚焦市场化突破，精准发力，以松茸为核心，整 合牦牛奶、青稞、高原苹果等特色物产，统一标识，努力讲好"3000米高原生态故事"。 同时，在浙江支援下，"遇上雅江"推动建成现代化松茸产业园，并吸引杭州企业松鲜鲜、老爸评测等入 驻，引入先进管理与精深加工技术。此外，园区上线的全国首个"数字松茸"应用场景——"五云一码"平 台，实现从采摘到销售全程可追溯，真正"看得见源头，尝 ...

Core Insights - The development of a comprehensive transportation network centered around Lhasa has significantly improved accessibility to various regions in Tibet, enhancing both tourism and local commerce [1][11][13] Transportation Infrastructure - The "Five Cities Three Hours" economic circle has been established, connecting Lhasa with Shigatse, Shannan, Nyingchi, and Nagqu, facilitating easier travel and logistics [1][11] - The total length of roads in Tibet has reached 124,900 kilometers, with high-grade roads like Lalin, Lazhe, and Larna being completed, contributing to the rapid transportation network [11] Tourism Impact - The tourism season has seen increased foot traffic in local businesses, such as a yogurt shop near the Potala Palace, which has expanded its operations fivefold since opening in 2007 [1][3] - Tourists have expressed positive feedback regarding the improved travel conditions compared to previous years, highlighting the ease of access to the region [1][3] Supply Chain and Logistics - The logistics sector has diversified, with a significant increase in the variety of goods transported to Tibet, including chemical and electronic products, alongside traditional items like food and construction materials [9] - The volume of goods transported through the Lhasa West Railway Freight Yard reached 3.5084 million tons, marking a 7.27% increase year-on-year [9] Local Business Growth - Local businesses, such as the yogurt shop, have benefited from improved transportation, allowing them to source fresher ingredients from farther locations, thus enhancing product quality [7][9] - The yogurt shop's daily sales have exceeded 1,400 servings, indicating strong demand and the need for expanded supply chains [5][7]

Core Viewpoint - Sichuan Jule Food Co., Ltd. (referred to as "Jule") is on the verge of a potential IPO on the Beijing Stock Exchange after a long and challenging journey of seven years and five attempts, marked by multiple failures and regulatory hurdles [1][3]. Company Background - Jule was established in 1985 and entered the dairy industry in 1996, focusing on milk beverages and dairy products, becoming one of the largest dairy companies in Southwest China [4]. - The company has faced significant challenges in its IPO attempts, including failed applications due to incomplete materials, internal control issues, and regulatory warnings [4][5][6]. Recent Developments - Jule's recent announcement of passing the listing guidance acceptance on the Beijing Stock Exchange and quickly disclosing its prospectus marks a significant step forward [3]. - The company has undergone three phases of guidance work in a short time, contrasting with other companies still in compliance work [3]. Financial Performance - Jule's revenue for 2022-2024 is projected to be 14.72 billion, 15.62 billion, and 16.41 billion respectively, with net profits of 1.72 billion, 1.96 billion, and 2.32 billion [11]. - The company has shown improvement in key financial metrics, including gross margin and net profit margin, which are expected to rise from 29.60% to 33.46% and from 11.68% to 13.58% respectively over the same period [11]. Market Position and Challenges - Despite improvements, Jule still lags behind industry giants like Yili and Mengniu, which have revenues in the hundreds of billions [11][12]. - The competitive landscape is intensifying, with major players increasingly focusing on regional markets, putting pressure on local companies like Jule [7][8]. Future Prospects - Jule aims to expand nationally and has made efforts to break regional barriers, including a recent acquisition to establish a presence in Northeast China [8][9]. - The company plans to use IPO proceeds to enhance its production capacity and invest in research and development, particularly focusing on yak milk as a future growth area [10][13]. - The IPO fundraising target has been reduced to 5.52 billion, significantly lower than previous attempts, reflecting the company's evolving financial needs [13].

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].

Group 1 - The core viewpoint emphasizes that industrial assistance in Tibet is a crucial driver for high-quality economic development, transitioning from "blood transfusion" support to "blood-making" development, and from single project support to full industrial chain cultivation [1][3] - Industrial assistance focuses on precise efforts, leveraging Tibet's unique clean energy resources, such as solar and wind energy, to establish a complete industrial chain that transforms resource advantages into market advantages [1][2] - The establishment of the Changdu Zero Carbon Industrial Park exemplifies a new model of "industrial value-added benefiting ecology," maximizing resource value and becoming a key driver for Tibet's green transformation [1] Group 2 - The key strategy of industrial assistance lies in deeply exploring "characteristics," with the development of highland light industry showcasing the effective utilization of unique resources like yak milk, barley, and Tibetan medicine [2] - The integration of industries releases multiplier effects, enhancing industrial vitality through collaborative development across agriculture, industry, and services, creating a virtuous cycle that boosts overall competitiveness [2] - Industrial assistance contributes positively to the establishment of a modern economic system and a new industrial system in Tibet, becoming an important engine for stable development and the enhancement of local livelihoods [3]

Group 1 - The core viewpoint of the article is the introduction of ten measures by Sichuan Province to promote high-quality development in the livestock industry, focusing on expanding consumption markets and enhancing international trade capabilities [1] Group 2 - The measures emphasize the expansion of the domestic market by improving the cold chain logistics system and utilizing various e-commerce platforms, including new retail and "live streaming+" models [1] - There is a specific focus on promoting Sichuan's unique livestock products, such as Sichuan black pigs and yak meat (milk), to first-tier cities [1] - The initiative encourages the export of Sichuan livestock products, supporting the construction of breeding and processing bases that meet export requirements, and promoting participation in market expansion activities like "Chuanxing Tianxia" [1] - The use of transportation routes such as the China-Laos Railway and the Western Land-Sea New Corridor is highlighted to enhance the export capabilities of Sichuan livestock products to markets like Hong Kong and Southeast Asia [1]