艺术设计赋能乡 村振兴："广州 工程"、驻镇工 作队联手在蕉岭 县打造特色农产 品牌_南方+_南 方plus 日前，由省驻镇 帮镇扶村驻蕉岭 县长潭镇工作队 推动，广州工程 技术职业学院郭 铁副院长带领的 艺术设计学院师 生团队再次深入 蕉岭县，开展农 产品包装设计与 品牌塑造专项调 研。在驻镇工作 队队长周舟的陪 同下，团队首站 抵达风景如画的 长潭镇白马村。 广东省"双百行 动"（百校联百 县助力"百县千 镇万村高质量发 展工程"）是省 委、省政府推动 城乡区域协调发 展的重要战略部 署。该行动以高 校专业优势对接 县域发展需求， 通过科技赋能、 人才培养、规划 设计等多维度支 8月起联合星海 音乐学院与蕉岭 县结对共建，组 建"双百行动"驻 蕉岭县服务队， 充分发挥艺术设 计学院专业特 色，在墙体彩 绘、LOGO设 计、景区规划等 方面取得显著成 效。 据统计，该校艺 术设计学院师生 团队已完成蕉岭 县文福镇长隆村 和三圳镇九岭村 等地共计2000多 平方米的墙体彩 绘创作，为典型 镇村注入艺术活 力。同时，学院 还为梅州市蕉岭 县国际研学团队 设计了专用 LOGO标识，并 积极参与广福镇 桃花源3A景 ...

据介绍，GB/T45885-2025《杏鲍菇》推荐性国家标准，由中华全国供销合作总社中国食用菌协会等多 家单位联合起草；GB/T45882-2025《猴头菇》、GB/T23189-2025《平菇》、GB/T23190-2025《双孢蘑 菇》、GB/T45883-2025《羊肚菌菌种》、GB/T23599-2025《草菇菌种》五项推荐性国家标准，由中华 全国供销合作总社昆明食用菌研究所等多家单位联合起草。 日前，由中华全国供销合作总社归口管理的《杏鲍菇》《猴头菇》《平菇》《双孢蘑菇》《羊肚菌菌 种》《草菇菌种》六项国家标准，正式获国家市场监督管理总局(国家标准化管理委员会)批准发布，将 于2026年1月1日起正式实施。六项国家标准的发布将推动我国食用菌产业标准化、规范化发展进入新阶 段。 据悉，我国是食用菌生产大国，食用菌产业是推进乡村全面振兴的重要抓手，是推动农民增收致富的重 要手段，也是大食物观中营养与健康的重要载体，在构建大农业和粮食安全大格局中具有举足轻重的作 用，食用菌已成为我国农业领域仅次于粮、油、果、菜的第五大作物，是我国农业产业结构中的重要组 成部分。 六项国家标准分别系统规定了杏鲍菇、猴头菇、 ...

Core Insights - The 2025 China Dairy Technology Expo highlighted the rapid growth of precision nutrition solutions in the dairy industry, with companies like Yili, Mengniu, Feihe, and Miaokelando launching targeted products [1][3][4] - The demand for dairy products is shifting from basic nutrition to functional segmentation, with a focus on high-protein, probiotic, and low-sugar options [3][5] - The Chinese dairy industry is seeking structural transformation due to declining milk prices and oversupply, with a trend towards quality, health, branding, and premiumization [5][6] Group 1: Industry Trends - Precision nutrition is expected to reach a peak by 2028, with market size projected to hit between 1000 billion to 1500 billion [9] - The dairy industry is experiencing a shift towards cheese production, which is seen as a significant opportunity to consume excess raw milk [6][7] - The market for special medical foods in China is projected to exceed 48 billion by 2025, with a compound annual growth rate of 30% [9] Group 2: Company Innovations - Yili has introduced a range of functional nutrition products inspired by traditional wisdom, addressing health needs such as gut health and blood sugar management [3][5] - Mengniu is focusing on scientific innovation to create customized products for various demographics, including seniors and fitness enthusiasts [3][5] - Feihe launched the first domestic database for human milk oligosaccharides (HMOs), enhancing research capabilities in maternal nutrition [4] Group 3: Market Dynamics - The Chinese dairy market is currently dominated by foreign brands in the special medical food sector, but domestic companies are increasing their product offerings [8][9] - The cheese market in China is underdeveloped compared to other countries, presenting a significant growth opportunity as consumer preferences evolve [6][7] - The overall dairy consumption per capita in China is declining, indicating a need for innovative products to stimulate demand [5]

Core Insights - In 2024, the company achieved a total revenue of 115.78 billion yuan, maintaining its position as the leading dairy company in Asia, with a net profit of 11.539 billion yuan, reflecting a year-on-year growth of 12.2% [1] - The company reported unexpected growth in both revenue and net profit in the first quarter of 2025, indicating strong operational performance [1] Business Performance - The liquid milk segment implemented various measures to navigate a complex market environment, focusing on quality as its strongest competitive advantage [3] - The company’s flagship products, such as the JinDian brand, have successfully positioned themselves in the organic market, with high-end products like JinDian active lactoferrin organic milk and JinDian Hulunbuir organic milk leading the quality upgrade [3] - The yogurt brand Anmuxi launched the world's first room-temperature active probiotic yogurt, enhancing its market share in the segment [3] - The company has partnered with Tongrentang to develop functional dairy products targeting specific consumer health needs, resulting in significant sales growth for new products [3] Market Trends - The low-temperature business segment has shown resilience, with new products like Changqing grain explosion yogurt and Gonglao colorful yogurt receiving positive market feedback, contributing to significant growth in low-temperature yogurt sales [4] - The JinDian fresh milk product has become a consumer favorite, leading to over 30% year-on-year revenue growth in the high-end low-temperature white milk category [4] - The company has successfully adjusted its inventory structure and product offerings, positioning itself for sustainable growth in the future [4] Overall Industry Position - The company’s liquid milk business generated 75.003 billion yuan in revenue in 2024, maintaining the highest market share in the industry [5] - The company’s overall performance across all product categories has established it as a leader in the industry, with rapid growth in milk powder and continued leadership in the ice cream segment [5]

Core Viewpoint - In the context of a weak recovery in the consumer industry, Yili Group (600887.SH) has demonstrated resilience and growth, achieving a revenue of 115.78 billion yuan in 2024, maintaining its position as the leading dairy company in Asia, with a net profit of 11.539 billion yuan, reflecting a year-on-year growth of 12.2% [1][3]. Financial Performance - Yili's overall revenue for 2024 reached 115.78 billion yuan, with a gross margin increase of 131 basis points to 34.03%, indicating enhanced profitability [3]. - The operating cash flow net amount was 21.74 billion yuan, showing an 18.9% year-on-year increase, indicating strong cash flow [3]. - The liquid milk segment generated 75 billion yuan in revenue, maintaining the highest market share in the industry [3]. Business Segments - The milk powder and dairy products segment achieved a record revenue of 29.675 billion yuan, growing by 7.53% year-on-year, with "Golden Crown" infant formula experiencing double-digit growth [3]. - The ice cream business generated 8.721 billion yuan, maintaining the top position in both revenue and market share for 30 consecutive years [4]. - New product revenue accounted for over 15% of total revenue in 2024, with innovative products like "Yogurt with Lemon" and lactose-free options driving growth [4]. Market Outlook - Yili believes the most challenging times for the industry are over, with a healthy recovery in the distribution channels observed by early 2024 [6]. - The company anticipates a gradual recovery in the consumer goods sector, supported by government policies aimed at boosting consumption and health [6][7]. - Yili's strategic focus for 2025 includes maintaining a profit margin target of 9% and preparing for potential industry recovery [7]. Strategic Initiatives - Yili is set to launch a new five-year strategic cycle, focusing on a comprehensive production system that includes "Chinese Cattle, Chinese Breeding Models, Chinese Raw Materials, Chinese Equipment, and Chinese Quality" [1][11]. - The company plans to enhance its functional dairy product offerings, targeting the growing demand for health-oriented products in the market [9][10]. - Yili's collaboration with Tongrentang aims to explore functional food products, marking a significant step towards becoming a health food group [10]. Future Growth Potential - The domestic dairy market still has significant growth potential, particularly in lower-tier cities where consumption is on the rise [9]. - Yili aims to capitalize on the underdeveloped functional dairy product market, with plans to increase investment in this area starting in 2025 [9][10]. - The establishment of a national dairy technology innovation center will enhance Yili's capabilities in cheese production and improve the domestic supply chain [10][11].

Core Viewpoint - Yili is maintaining a steady upward trajectory amidst industry fluctuations, with significant revenue and profit growth reported in recent financial disclosures [1][2]. Financial Performance - In 2024, Yili's revenue reached 115.78 billion yuan, securing its position as the leading dairy company in Asia; net profit, excluding goodwill impairment, was 11.54 billion yuan, marking a 12.2% year-on-year increase [1]. - For Q1 2025, Yili reported revenue of 33.02 billion yuan, a 1.35% increase year-on-year, and a net profit of 4.63 billion yuan, up 24.19% [2]. Operational Efficiency - From 2020 to 2024, Yili's gross margin improved by 377 basis points, with core operating profit margin rising by 205 basis points, averaging an annual increase of 50 basis points [3]. - In 2024, management expense ratio decreased by 23 basis points to 3.86%, while sales expense ratio for Q1 2025 was 16.9%, down 152 basis points [3]. Market Position - Yili's liquid milk revenue in 2024 was 75.00 billion yuan, maintaining its industry leadership, with high-end low-temperature white milk revenue growing over 30% [5]. - The company achieved first place in the ice cream sector with revenue of 8.72 billion yuan in 2024, marking 30 consecutive years of industry leadership [6]. - Yili's milk powder revenue reached 29.68 billion yuan in 2024, a 7.53% increase, solidifying its position as the top seller in China [8]. Strategic Initiatives - Yili is actively pursuing a "dual strategy" focusing on functional nutrition and deep processing of dairy products, including a strategic partnership with Tongrentang [15]. - The company is investing in deep processing projects to enhance domestic production capabilities and reduce reliance on imports [15]. Innovation and Growth - Yili is expanding its product offerings, including new functional products targeting specific consumer needs, such as lactose-free options and health-focused beverages [12]. - The company is leveraging digital technologies to enhance operational efficiency and accelerate product development cycles [17]. Future Outlook - Yili anticipates continued growth in its infant formula segment and aims for double-digit revenue growth in adult milk powder, with liquid milk expected to stabilize or improve [18]. - The company plans to maintain a profit margin target of 9% for 2025 [19]. Shareholder Returns - Yili has committed to a dividend payout ratio of no less than 70%, with a proposed dividend of 7.73 billion yuan for 2024, achieving a historical high of 91.4% [20].

Core Insights - Yili Group reported a total revenue of 115.78 billion yuan for 2024, with a net profit of 11.539 billion yuan, marking a 12.2% year-on-year growth, maintaining its position as the largest dairy company in Asia [2] - In Q1 2025, the company achieved a revenue of 33.018 billion yuan, a 1.35% increase year-on-year, and a net profit of 4.629 billion yuan, reflecting a 24.19% growth, indicating strong performance despite market challenges [2] Business Segments - Liquid Milk: The liquid milk segment generated 75.003 billion yuan in revenue in 2024, holding the largest market share in the industry, with significant growth in high-end low-temperature products [3] - Ice Cream: The ice cream business achieved 8.721 billion yuan in revenue, maintaining its position as the national leader for 30 consecutive years through product innovation and targeted marketing strategies [3] - Milk Powder and Dairy Products: This segment reached a revenue of 29.675 billion yuan, a 7.53% increase, with strong performance in adult and infant milk powder markets, and leading positions in global sheep milk powder sales [4] - Cheese: The cheese business showed robust growth, with a revenue increase of over 20%, and a retail market share of approximately 19.1% [4] Health and Nutrition Focus - The adult milk powder market has seen a compound annual growth rate of 23.6% over the past three years, with Yili capturing a 24% market share, emphasizing its strong competitive position [6] - Yili is expanding into the health food sector, launching functional products in collaboration with Tongrentang, integrating traditional Chinese medicine with modern dairy technology [7] Innovation and Technology - Yili increased its R&D expenditure by 2.33% in 2024, achieving significant breakthroughs in protein extraction and probiotic technology, enhancing product functionality [8][9] - The company has received 973 patents, reflecting its commitment to innovation and product development, and has been recognized with multiple awards for product innovation [9] Shareholder Value - Yili plans to distribute a cash dividend of 1.22 yuan per share, totaling 7.726 billion yuan, with a distribution ratio of 91.4%, marking a record high [10] - The company has a history of substantial dividends, with a total of 50.8 billion yuan distributed since its market entry, showcasing strong cash flow and management confidence [10] Market Outlook - Yili is well-positioned for future growth, benefiting from an improving supply-demand balance in the dairy industry and a focus on health-conscious consumer trends [11] - The company aims to leverage its strong performance and diverse business portfolio to continue leading the dairy sector and expand into the health food market [11]

伊利股份2024年财报展现"规模与质量双领跑"实力，全年营 收1157.8亿元稳居亚洲乳业第一，净利润同比增12.2%至 115.39 亿 元 。 2025 年 一 季 度 逆 势 双 增 ， 扣 非 净 利 增 幅 达 24.19%，毛利率提升、费用率优化及现金流增长印证经营质 量进阶。核心业务液体乳依托常温/低温双赛道优势，高端低 温白奶增速超30%，金典、安慕希等大单品持续领跑；全产业 链数智化转型降本增效，驱动新质生产力发展。公司以91.4% 分红比例回馈股东，全年分红77.26亿元创历史新高，并通 过"一横一纵"战略布局功能性营养与乳深加工，加速构建全球 化健康食品生态。 作者：云逸宵 封图：图片资料室 竞争日趋激烈、处于转型关键期的乳制品行业，迎来乳业龙头财报的重磅发布。4月29日，伊利股 份发布了2024年年报及2025年一季报。其用数字的确定性回应了市场期待。 "经营规模与经营质量双领跑"，可谓伊利股份此次财报的核心要点。2024年年报显示，伊利股份 以"亚洲乳业第一"的体量，交出了一份营收突破1157.8亿元、净利润增长12.2%的年度答卷。 此时的乳制品行业，又一次站在产业变革的临界点。其 ...

竞争日趋激烈、处于转型关键期的乳制品行业，迎来乳业龙头财报的重磅发布。4月29日，伊利股份（600887）发布了2024年年报及2025年一 季报。其用数字的确定性回应了市场期待。 "经营规模与经营质量双领跑"，可谓伊利股份此次财报的核心要点。2024年年报显示，伊利股份以"亚洲乳业第一"的体量，交出了一份营收突 破1157.8亿元、净利润增长12.2%的年度答卷。 此时的乳制品行业，又一次站在产业变革的临界点。其不再单纯注重规模扩张，价值提升才是竞争追逐的大方向。身为中国乳业龙头，伊利 股份的财报让外界看到其经营韧性，同时更折射出中国乳业转型升级的深层逻辑。 经营规模与质量"双领跑" 当下，我国已成为世界第二大乳制品市场，并且已经形成乳企龙头、区域性乳企以及地方性中小乳企并存的市场格局。 该产业的发展最早可追溯至上世纪50年代，伊利股份的前身也诞生于彼时，可见其是我国少有的穿越多个周期，秉承"长期主义"基因的乳企 龙头。 过去的一年，宏观经济波动与行业竞争加剧的大背景下，伊利股份作为唯一营收超千亿的中国乳企，再一次实现了经营质量与股东回报的"良 性共振"。 财报显示，2024年，公司实现营业总收入1157. ...

Core Insights - In 2024, the company achieved total revenue of 115.78 billion yuan, with a net profit of 11.539 billion yuan, marking a year-on-year growth of 12.2% after excluding goodwill impairment [1] - For Q1 2025, the company reported total revenue of 33.018 billion yuan, a 1.35% increase year-on-year, and a net profit of 4.629 billion yuan, reflecting a 24.19% growth [1] - The company continues to lead the Asian dairy industry in scale and quality, with significant growth in its milk powder business [1] Business Segments - The liquid milk segment remains the core competitive advantage, generating revenue of 75.003 billion yuan in 2024, maintaining the largest market share in the industry [2] - The company’s cold drink business achieved revenue of 8.721 billion yuan in 2024, reinforcing its position as the national leader in the cold drink sector for 30 consecutive years [2] - The milk powder and dairy products segment reached a revenue of 29.675 billion yuan in 2024, a 7.53% increase, with the adult milk powder market share rising to 24% [3][6] Health and Innovation - The company is expanding into the health food sector, with other product revenues growing by 13.75% in 2024, particularly in the ready-to-drink tea market [4] - The adult milk powder market has seen a compound annual growth rate of 23.6% over the past three years, with the 50+ age group contributing 62% of sales [5] - The company has made significant advancements in research and development, with a 2.33% increase in R&D expenses in 2024, leading to breakthroughs in functional dairy products [9] Strategic Collaborations and Future Outlook - In 2025, the company partnered with Tongrentang to develop a series of functional products, marking a strategic move towards becoming a comprehensive health food enterprise [7] - The company is addressing structural issues in the cheese industry by enhancing its deep processing capabilities and expanding its product offerings [8] - The company’s focus on digital transformation and AI applications aims to improve operational efficiency and market responsiveness [10][11] Shareholder Value - The company plans to distribute a cash dividend of 1.22 yuan per share, totaling 7.726 billion yuan, with a payout ratio of 91.4% [12] - The company has a history of significant shareholder returns, with cumulative dividends reaching 50.8 billion yuan since its market debut [12] - The current valuation is at a ten-year low, with a consistent dividend rate above 70% over the past five years, indicating strong investment potential [12] Industry Position and Growth Potential - The company is well-positioned in the dairy industry, with substantial growth opportunities in both liquid milk and milk powder markets [13] - The improvement in the upstream supply-demand balance is expected to enhance profitability, even with stable terminal demand [13] - The company is poised to lead the high-quality development of the Chinese dairy industry, leveraging its robust performance and innovative capabilities [14]