转自：北京日报客户端 2026年开年，深圳的消费者梁女士向北京商报记者表示，在本地配送平台鲜颂佳预订的羊奶已经停摆数 周，数千元预付款也没了下文。1月1日，深圳的数百位消费者收到通知，鲜颂佳的母公司因资金链断裂 而关门，预存的羊奶均被暂停配送，涉及飞天、皇氏水牛、妙羊E家、首府等品牌。1月8日，不少消费 者收到由红星美羚旗下新公司配送的试饮装羊奶，让这场"断奶"风波有了一丝平息的迹象。不过，红星 美羚的救场能否解决断供危机仍存诸多未知。 超4.9万盒羊奶"不翼而飞" 2025年12月中旬，梁女士发现，鲜颂佳的配送员连续多天没有将羊奶放在家门口，打开小程序才注意到 433盒已被锁定，暂时无法配送。 梁女士向北京商报记者提供的一张转账记录和一张发票显示，收款商户为"深圳市龙岗区晋鹏鲜奶配送 中心"（以下简称"深圳晋鹏"），销售方为"深圳市品鼎供应链管理有限公司"（以下简称"深圳品 鼎"）。 像梁女士这样的案例不在少数。在一个名为"鲜颂佳羊奶集结"的微信群内，据北京商报记者不完全统 计，截至今年1月4日，有来自深圳市、广州市、东莞市、佛山市、韶关市等地的超过250名消费者进行 了缺货登记，鲜颂佳拖欠数量超过4.9万 ...

2026年开年，深圳的消费者梁女士向北京商报记者表示，在本地配送平台鲜颂佳预订的羊奶已经停摆数周，数千元预付款也没了下文。1月1日，深圳的数百 位消费者收到通知，鲜颂佳的母公司因资金链断裂而关门，预存的羊奶均被暂停配送，涉及飞天、皇氏水牛、妙羊E家、首府等品牌。1月8日，不少消费者 收到由红星美羚旗下新公司配送的试饮装羊奶，让这场"断奶"风波有了一丝平息的迹象。不过，红星美羚的救场能否解决断供危机仍存诸多未知。 超4.9万盒羊奶"不翼而飞" 2025年12月中旬，梁女士发现，鲜颂佳的配送员连续多天没有将羊奶放在家门口，打开小程序才注意到433盒已被锁定，暂时无法配送。 梁女士向北京商报记者提供的一张转账记录和一张发票显示，收款商户为"深圳市龙岗区晋鹏鲜奶配送中心"（以下简称"深圳晋鹏"），销售方为"深圳市品 鼎供应链管理有限公司"（以下简称"深圳品鼎"）。 像梁女士这样的案例不在少数。在一个名为"鲜颂佳羊奶集结"的微信群内，据北京商报记者不完全统计，截至今年1月4日，有来自深圳市、广州市、东莞 市、佛山市、韶关市等地的超过250名消费者进行了缺货登记，鲜颂佳拖欠数量超过4.9万盒。最多的一位消费者花费1280 ...

Core Viewpoint - The article discusses the diverse range of animal milk products available in the market, highlighting the nutritional similarities and differences among them, as well as consumer preferences based on taste and health benefits [14][19]. Nutritional Comparison - All types of animal milk provide essential nutrients such as proteins, fats, carbohydrates, and minerals, with basic nutritional components being relatively similar across different species [14][15]. - Specific nutritional advantages include higher essential amino acids in goat milk (49%), vitamin C in camel milk, and higher potassium and magnesium in sheep milk [15][19]. - The price of alternative milks like goat, camel, and sheep milk is higher than cow milk due to lower production volumes and higher costs associated with their unique farming conditions [14][15]. Taste and Flavor Characteristics - The flavor of milk is primarily influenced by its fat content, with higher fat levels leading to richer taste profiles [16][17]. - Different types of milk have distinct flavor characteristics: cow milk is mild and creamy, buffalo milk is rich and sweet, goat milk has a unique tangy flavor, and camel milk is slightly salty [17][18]. Health Benefits and Recommendations - Regular consumption of dairy products is linked to lower mortality rates and reduced cardiovascular disease risk, emphasizing the importance of incorporating milk into daily diets [19]. - For individuals with allergies, alternatives like goat, camel, or donkey milk may be suitable substitutes for cow milk [19][20]. - Recommendations for specific demographics include whole milk for children, calcium-rich options for older adults, and fermented dairy for those with lactose intolerance [20]. Consumer Considerations - Consumers should pay attention to the processing methods and ingredient lists of milk products, as "natural active nutrition" is considered the core value of milk [20]. - There is a trend towards choosing low-fat options for weight management, but studies suggest that full-fat dairy does not increase obesity risk in normal-weight individuals [20].

Core Viewpoint - The successful implementation of the Palmera onshore wind power project by China Three Gorges Corporation in Brazil's Paraíba state not only provides clean energy but also fosters local economic development through the "goat milk economy" initiative, benefiting local farmers and communities [1][5]. Group 1: Wind Power Project - The Palmera onshore wind power project consists of 108 wind turbines with a total installed capacity of 648,000 kilowatts, designed to generate 2.554 billion kilowatt-hours annually, meeting the electricity needs of 720,000 local households [5]. - The project is expected to save approximately 779,000 tons of standard coal and reduce carbon dioxide emissions by about 2.125 million tons each year, contributing to a greener energy structure in northeastern Brazil [5]. - The project achieved full-capacity grid connection in October 2023, marking a significant milestone in enhancing local energy sustainability [5]. Group 2: Goat Milk Economy Initiative - The "goat milk entrepreneurship project" has expanded to cover five communities, involving 69 families and approximately 300 residents, significantly improving their income levels [4]. - The project includes three phases: providing technical training for scientific breeding and dairy processing, enhancing the industrial chain through resource integration, and introducing a digital management system for real-time production tracking [4]. - The income of participating families has nearly doubled, with the potential for daily milk production per household to increase by 2 to 2.5 liters in the future [4].

Group 1 - The article highlights a new form of scams targeting elderly individuals through private live streaming, which is a shift from traditional offline methods to a more concealed online approach [2][12][60] - Scammers attract elderly users by offering small incentives such as free eggs, red envelopes, and invitations to expert consultations, specifically targeting those aged 55 and above [3][4][5] - Products in these live streams are heavily exaggerated in their effectiveness, with claims of curing various ailments, leading to a false sense of security among the elderly [6][7][8][10] Group 2 - Regulatory bodies have begun to take action against these scams, indicating a strengthening of oversight in the industry [15][66] - A recent meeting by broadcasting authorities focused on addressing false medical advertisements, with plans to eliminate such content by the end of the year [17][18][20] - The prevalence of misleading advertisements on television has increased, particularly targeting elderly viewers who may not be as discerning as younger audiences [21][22][56] Group 3 - The consequences of these scams can be severe, with many elderly individuals losing their life savings to fraudulent schemes disguised as legitimate medical products [42][44][46] - Some victims have experienced deteriorating health conditions due to reliance on ineffective products, leading to critical situations that could have been avoided with proper medical care [48][52][54] - The article emphasizes the need for market regulation to protect vulnerable populations and ensure that accurate information is available to patients [69][71][73]

Core Viewpoint - The Chinese Consumers Association has issued a warning about fraudulent practices targeting the elderly through private live streaming sessions, highlighting the deceptive nature of these sales tactics [1] Group 1: Fraudulent Practices - Some unscrupulous merchants are using private live streaming to mislead elderly consumers, often requiring passwords to access these sessions, which limits oversight and increases the risk of fraud [1][12] - A case study involving a woman from Shanghai who purchased 10 boxes of probiotics, believing they would benefit her family, illustrates the deceptive marketing tactics used in these private streams [4][12] - The Shanghai market regulatory authority found that the probiotics were falsely advertised as having immediate health benefits, with the actual product being an ordinary food item [12][30] Group 2: Marketing Tactics - Merchants often lure elderly consumers into private groups with offers of free gifts, such as eggs or cash rewards, which leads them to participate in misleading live streams [15][19] - The company "Guo Ke You Xuan" operates in over 600 cities and has more than 5,000 distributors, using local stores to funnel elderly consumers into private live streaming sessions [15][17] - The marketing strategy includes creating a closed information environment with age restrictions and identity verification, making it difficult for external oversight [28][30] Group 3: Regulatory Challenges - The lack of transparency in private live streaming makes it challenging for regulatory bodies to gather evidence and enforce compliance [10][12] - The Chinese Consumers Association has noted an increase in complaints related to private marketing, indicating a growing concern over the lack of consumer protection in these transactions [36][37] - Experts suggest that regulatory authorities need to enhance enforcement and develop legal frameworks to protect elderly consumers from these deceptive practices [37]

Summary of the Conference Call for YouRan Agriculture Company Overview - YouRan Agriculture is the largest dairy cattle farming enterprise globally, controlled by Yili Group, covering the entire cycle of breeding, farming, and feed raw material production. Over 90% of its raw milk products are sold to Yili [2][5][10]. Industry Insights - Domestic beef prices are expected to reach historical highs within the next two to three years, while milk prices are rebounding after hitting a low. The industry has already reduced about 10% of its capacity, with further reductions anticipated in the second half of the year [2][3]. - The domestic beef cattle farming industry has experienced significant losses, with a reduction of nearly 30% in breeding and technical cows. A decrease in domestic beef supply is expected by the second half of 2025, indicating a clear price turning point [4][11]. - Globally, beef cattle production has decreased by about 5%, with beef prices starting to recover since 2024, having risen nearly 40% cumulatively [4][12]. Financial Performance - In 2024, YouRan Agriculture's revenue is projected to reach 20.1 billion yuan, but it is expected to incur a net loss of nearly 700 million yuan due to falling raw milk prices and biological asset impairments. Profitability is anticipated to improve starting in 2025 as costs decline and beef prices recover [2][6]. - YouRan's revenue composition includes 75% from goat milk with a gross margin of 30%-40%, and 25% from ancillary businesses like feed, which has a gross margin of 17% [2][7][8]. Capital Expenditure and Cash Flow - Capital expenditures have significantly increased since 2020, but no large-scale capacity expansion is planned in the short to medium term. A reduction in capital expenditures is expected starting in 2025 [9]. - The cash cost of producing raw milk is approximately 3.9 yuan per kilogram, with a sales average of 4.1 yuan per kilogram in 2023, indicating a premium of about 30% over industry costs [9]. Future Profitability and Market Dynamics - The company expects to sell approximately 100,000 culled cows annually, with prices currently at historical lows of 7,000 yuan per head, potentially rising to 14,000-15,000 yuan per head by 2026, contributing significantly to profits [15][16]. - The raw milk business is projected to significantly enhance profitability, with expected sales volumes reaching 4.1 million tons by 2025 and 4.3 million tons by 2026. An increase in raw milk prices could add approximately 2 billion yuan to profits by 2027 [17]. Valuation and Market Position - YouRan Agriculture's current price-to-book (PB) ratio is around 1.1, at historical lows, with potential for significant recovery. The price-to-earnings (PE) ratio is also expected to double as market conditions improve [18]. Conclusion - The overall outlook for YouRan Agriculture is positive, driven by anticipated price recoveries in both beef and raw milk markets, alongside strategic operational adjustments and a strong market position as a leading enterprise in the dairy sector [18].