[年报]妙可蓝多(600882):2025年年度报告摘要（中英文双语版）
原标题:妙可蓝多:2025年年度报告摘要（中英文双语版） 截至报告期末，母公司存在未弥补亏损的相关情况及其对公司分红等事项的影响? 适用 □ 不适用 截至报告期末，公司母公司财务报表中累计未分配利润为负，根据《中华人民共和国公司法》及《上市公司— 监管指引第3号 上市公司现金分红》等相关法律法规的规定，公司目前不满足实施现金分红的前提条件。
电子信箱 [email protected] 2、 报告期公司主要业务简介 2.1 报告期内公司所处行业情况 (1) 产业端：乳制品产业结构转型加快 – 根据国家统计局数据，2025年1 12月全国乳制品产量为2,950.3万吨，产量基本稳定，受消费环境影响，乳制品市场供需依然存在阶段性失衡的问题。根据中国奶业协会2025年发布的《中国奶业战略发展重点课题研究报告》，我国乳制品市场呈现“规模庞大但结构失衡”特征，奶酪、黄油等深加工产品占比仅7.3%，不足发达国家平均水平的四分之一，主要原料进口依赖度较高，形成“液态奶过剩、高附加值产品短缺”的结构性矛盾。因此，亟需加快产业结构转型和产品深加工步伐，推动乳制品行业向价值链高端跃升。 术优化到校园场景拓展全方位赋能，为国产奶酪产业高质量发展筑牢政策根基。 贸易反补贴政策为奶酪行业带来关键发展机遇。国务院关税税则委员会根据商务部的建议做出决定，自2026年2月13日起，对原产于欧盟的进口相关乳制品征收反补贴税，实施期限自2026年2月13日起5年，此举将直接增加进口产品综合成本，扭转不公平竞争格局。这一政策为国产奶酪释放了进口替代空间，加速推动原制马苏里拉、马斯卡彭等核心品类的国产化进程。 以上政策与贸易红利共同推动我国乳制品行业从规模扩张阶段迈入结构优化阶段，奶酪作为核心深加工品类，成为乳制品行业向价值链高端跃升的关键引擎，液态乳制品向固态乳制品发展的趋势进一步强化。 透，也成为日常膳食补充的优选。根据蒙牛与瓦赫宁根大学合作，于《Food Research International》发表关于发酵乳蛋白消化的研究得出结论：发酵提升乳蛋白消化率与肽多样性，进一步验证了乳制品优质蛋白的– 营养价值。此外，美国农业部与卫生与公众服务部联合发布的《2025 2030年居民膳食指南》也建议提高优质蛋白质摄入量，尤其是乳制品中蛋白质，同时明确将乳脂肪定义为健康脂肪。 奶酪在中西餐、茶咖和烘焙行业的渗透率正在持续提升。中西餐市场中，乳制品已成为品类创新核心载体，在上下游协同创新趋势下，奶酪企业能通过创新产品与全链路协同模式深化场景渗透。根据红餐产业研究院与蒙牛专业乳品（内蒙蒙牛面向餐饮客户开辟的专业餐饮品牌）联合发布的《烘焙品类发展报告2025》，烘焙市场规模扩张且健康化、本土化趋势显著，马斯卡彭等高端奶酪需求攀升，国产原料接受度提升，国内奶酪企业可依托本土供应链提供高品质、清洁标签的原料及解决方案。新茶饮行业头部品牌对产品品质、生产规范及供应链定制创新的高要求，为国内奶酪企业凭借高品质、标准化及定制能力切入茶饮赛道创造契机。同时，B端市场对奶酪的需求也为乳制品深加工各环节副产品拓展了更适配、更多元的应用场景。 庭餐桌系列和餐饮工业系列。同时公司也从事液态奶的研发、生产和销售，以及乳制品贸易业务。奶酪棒、 马苏里拉奶酪、奶酪片、黄油、稀奶油为报告期内核心产品。 即食营养系列家庭餐桌系列餐饮工业系列比增长22.84%，为公司整体营业收入增长的主要驱动因素。 公司同步推动各项降本增效战略举措，实现归属于上市公司股东的扣除非经常性损益的净利润15,762.00万元，较上年同期大幅增长235.94%。 – 2025年?司各??营业?入?同?变动?况 2023 2025年?司扣?归?净利润?况180,000 45% 18,000 167,581.76 15,762.00 160,000 40% 16,000 138,996.84 34.13% 140,000 35% 14,000 133,383.16 123,333.28 120,000 30% 12,000 100,000 25% 10,000 80,000 20% 8,000 60,000 15% 6,000 4,691.93 14.22% 40,000 10% 4,000 9.62% 20,000 5% 2,000 6.26% 717.12 0 0% 0 2025 2025 2025 2025 2023 2024 2025 第一季度 第二季度 第三季度 第四季度 扣非归母净利润（万元） 营业收入（万元） 同比增速（%，右轴）
2025年???入占?继续提升 2025年?司各?????入?同?变动?况 140,000 45% 131,345.58 120,000 110,605.23 35% 6.51% 102,970.39 100,000 11.12% 30% 8.56% 11.32% 25% 奶酪 贸易 2024年 液态奶 15% 10% 5% 82.37% 2025 2025 2025 2025 第一季度 第二季度 第三季度 第四季度 奶酪业务收入（万元） 同比增速（%，右轴） 环比增速（%，右轴）酪小三角新品入选“2025年上海特色旅游食品”。公司坚定以消费者为导向，不断进行产品创新，持续完善奶酪产品矩阵，进一步巩固奶酪行业领导者地位。 酪小三角新品入选“2025年上海特色旅游食品”。公司坚定以消费者为导向，不断进行产品创新，持续完善奶酪产品矩阵，进一步巩固奶酪行业领导者地位。 上海市 2025年度 中国乳制品工业协会 2025年 科学技术奖 中国消费名品 技术进步一等奖 上海特色旅游食品 职场零食、餐饮搭配等多元生活空间，完成人群与场景的双重破圈，夯实全民奶酪品牌定位；公司以创新营销矩阵驱动增长：针对儿童奶酪棒核心产品，持续在头部媒体集中造势传播，开展奶酪品类营养教育；借势假日经济打造事件营销，持续强化品牌认知；开展多元营销，如联动马拉松赛事推广新产品，打造营养周专案等，加强营养背书，拓展场景与消费的关联性；冠名多档热门综艺，深度植入产品优势，借势艺人资源完成新品推广及人群破圈；打造奶酪市集、冠名汉堡节等特色活动，培育奶酪消费市场、传递营养与功能价值，以系列动作推进品牌升级，担当品类引领。 开拓爱奇艺等流媒体平台，布局抖音、小红书、视频号等社交媒体矩阵，并深化O2O场景化营销，以贴近消费场景的内容与消费者深度互动，实现贴近生意、品效销协同的传播目标。通过全域媒介矩阵的精准布局，持续提升品牌的认知度与美誉度，巩固奶酪品牌第一心智，让“奶酪就选妙可蓝多”的品牌价值诉求深入人心。 ? 打造供应链全过程管理体系，提升全链路管理效率 公司不断完善供应链全过程管理体系，从计划、生产、销售实现全链路管理，通过数智化升级进一步提升供应链管理效率，为公司的降本增效打下坚实基础。公司凭借在奶酪领域的自主研发技术积累，不断进化适应市场需求的创新能力以及卓越的产品品质。报告期内，公司荣获百胜中国颁发的“卓越供应链奖”和“金锅奖”两项荣誉，并成为首批“百胜和羹之友”。 ? 全面启动各项降本增效战略举措，打造企业成本护城河 公司全面启动各项降本增效战略举措，将其作为构建核心竞争力的关键护城河，以精益协同、精益生产、精益管理为核心抓手，通过覆盖研发、采购、制造等全链条的协同管理，引入专业管理模型，推动组织效率与能力升维。报告期内，组织效率与人均产出实现双提升。
单位：元 币种：人民币
年度报告披露日前上一月末的普通股股东总数（户） 40,385 截至报告期末表决权恢复的优先股股东总数（户） 0 年度报告披露日前上一月末表决权恢复的优先股股东总数（户） 0
5.3 公司与实际控制人之间的产权及控制关系的方框图 □ 适用 ? 不适用 5.4 报告期末公司优先股股东总数及前10名股东情况 □ 适用 ? 不适用 6、 公司债券情况 □ 适用 ? 不适用 第三节重要事项 1、 公司应当根据重要性原则，披露报告期内公司经营情况的重大变化，以及报告期内发生的对公司经营情况有重大影响和预计未来会有重大影响的事项。 报告期内，公司积极推进各项举措，全年实现营业收入563,295.04万元，整体营业收入同比上升16.29%，主要系公司奶酪产品收入增加所致。同时，公司实现归属于上市公司股东的扣除非经常性损益后的净利润15,762.00万元，同比增长235.94%。 2、 公司年度报告披露后存在退市风险警示或终止上市情形的，应当披露导致退市风险警示或终止上市情形的原因。 □ 适用 ? 不适用 of the information contained therein. 3. All members of the Board attended the Board meeting. 4. KPMG Huazhen LLP issued a standard unqualified opinion on the audited report of the Company. 5. Proposal for profit distribution or proposal for conversion of common reserve fund into share capital during the reporting period considered by the BoardAs the Company recorded negative undistributed profit under the statements of the parent company for 2025, the Company proposes not to distribute cash bonus or bonus issue, nor convert capital reserve into share capital for 2025. Relevant information regarding the parent’s uncovered losses as at the end of the reporting period and their impact on matters such as the Company’s profit distribution? Applicable □ Not applicable As at the end of the reporting period, the accumulated undistributed profits in the parent’s financial statements were negative. According to the provisions of the Company Law of the People’s Republic of — China, the Listed Companies Regulatory Guidance No. 3 Cash Dividends Distribution of Listed Companies, and other relevant laws and regulations, the Company currently does not meet the prerequisites for implementing cash dividends.
(1) Industry Ends: Structural Transformation of the Dairy Industry AcceleratedAccording to data from the National Bureau of Statistics, China’s dairy production for the period of January to December 2025 reached 29.503 million tons, remaining largely stable. Influenced by the consumer environment, the dairy market continues to face the issue of periodic supply-demand imbalances. As indicated in the China Dairy Industry Strategic Development Key Research Report released by the Dairy Association of China in 2025, China’s dairy market is characterized by “large scale but structural imbalance.” Deep-processed products such as cheese and butter account for only 7.3% of the market, less than one-quarter of the average level in developed countries. And there is a high dependence on imported raw materials, creating a structural contradiction featured by a “surplus of liquid milk and a shortage of high value-added products.” Therefore, there is an urgent need to accelerate industrial structural transformation and advance product deep processing to propel the dairy industry towards the higher end of the value chain. Optimization and Consumption Expansion, designating cheese as the core direction for deep processing development. These reports explicitly promote the large-scale production of domestic natural cheese, prudently advance cheese pilot programs leveraging the national “Student Milk” program to enrich category supply, while simultaneously strengthening whey co-production, whey protein recovery and co-production process applications, optimizing fermentation strains, promoting the high-value utilization of cheese processing by-products such as whey powder and lactose, and improving the entire cheese industry chain — layout. These multiple policies, working in concert, focus on the entire cheese industry chain from guiding healthy consumption, supporting deep-processing capacity, and optimizing production technology, to — expanding into campus scenarios providing comprehensive empowerment and laying a solid policy foundation for the high-quality development of the domestic cheese industry.Trade countervailing policies have presented critical development opportunities for the cheese industry. Based on recommendations from the Ministry of Commerce, the Customs Tariff Commission of the State Council decided to impose countervailing duties on relevant dairy products imported from the European Union effective February 13, 2026, for a period of five years. This measure will directly increase the comprehensive cost of imported products and rectify the unfair competition landscape. This policy has created import substitution space for domestic cheese, accelerating the localization process for core categories such as natural Mozzarella and Mascarpone. These policies and trade dividends collectively drive China’s dairy industry from a phase of scale expansion into one of structural optimization. As a core deep-processed category, cheese has become a key engine propelling the dairy industry towards the higher end of the value chain, further reinforcing the trend of transitioning from liquid dairy products to solid dairy products.stores, convenience stores, real-time retail, and membership-based supermarkets have become new consumption trends. Cheese flavors are widely popular on these high-potential channels and platforms, with numerous cheese-flavored products consistently appearing on recommendation lists.As younger generations show an increasing willingness to incorporate high-protein foods into their daily diets, high-quality protein from dairy products is accelerating its penetration into everyday life scenarios, becoming a preferred option for daily dietary supplementation. According to research on fermented milk protein digestion jointly conducted by Mengniu and Wageningen University, published in Food Research International, fermentation enhances the digestibility of milk proteins and peptide diversity, further validating – the nutritional value of high-quality dairy protein. Additionally, the Dietary Guidelines for Americans 2025 2030, jointly released by the U.S. Department of Agriculture and the Department of Health & Human Services, recommends increasing the intake of high-quality protein, particularly protein from dairy products, while explicitly defining milk fat as a healthy fat. Cheese penetration is continuously increasing across Chinese and Western cuisine, tea and coffee, and bakery sectors. In the Chinese and Western food service markets, dairy products have become core carriers for category innovation. Under the trend of collaborative innovation between upstream and downstream players, cheese companies can deepen scenario penetration through innovative products and full-chain collaboration models. According to the 2025 Baking Category Development Report jointly released by Hongcan Industry Research Institute and Mengniu Professional Dairy (the professional food service brand established by Inner Mongolia Mengniu for catering clients), the bakery market is expanding with significant trends towards healthier products and localization. Demand for premium cheeses like Mascarpone is rising, and acceptance of domestic raw materials is increasing. Domestic cheese companies can provide high-quality, clean-label ingredients and solutions leveraging local supply chains. The new tea drink industry’s leading brands’ high demands for product quality, production standards, and supply chain customization innovation create opportunities for domestic cheese companies to enter the tea beverage sector by leveraging high quality, standardization and customization capabilities. Concurrently, B-end market demand for cheese also expands more suitable and diverse application scenarios for by-products from various stages of dairy deep processing. 2.2 Principal Business and Core Products The Company is committed to “Cheese for every household!”, and has established a certain leading edge in the industry after rapid development in a decade. The Company’s principal business is the research and development, production and sales of special dairy products with cheese as the core. In particular, the cheese products can be further subdivided into instant nutrition series, family consumption series and catering industry series. Besides, the Company is also engaged in the research and development, production and sales of liquid milk, as well as dairy products trading business. Cheese lollipop, mozzarella cheese, cheese slices, butter, and cream were the core products during the reporting period. Instant Nutrition SeriesFamily Consumption SeriesCatering Industry Seriesseries of proactive initiatives driven by the dual-engine approach of serving both business customers (TOB) and consumer customers (TOC), achieving operating revenue of RMB5,632,950,400, representing a year-on- year increase of 16.29%. In the fourth quarter, revenue reached RMB1,675,817,600, representing a year-on- year increase of 34.13% and a quarter-on-quarter increase of 20.57% from the third quarter. This marked the third consecutive quarter of revenue growth, underscoring a strong and sustainable upward trajectory. The Company’s cheese business continued to gain momentum throughout the year, generating RMB4,615,227,300 in revenue, up 22.84% year-on-year, and serving as the primary engine behind the overall revenue growth. At the same time, the Company implemented a range of strategic cost-reduction and efficiency-enhancing measures. As a result, net profit attributable to shareholders of the Company after deducting non-recurring gains and losses soared to RMB157,620,000, a remarkable year-on-year increase of 235.94%.Quarterly Revenue in 2025 and YoY Change Net Profit Attributable to the Parent Deducting – Non-recurring Gain or Loss for 2023 2025 180,000 45% 18,000 167,581.76 15,762.00 160,000 40% 16,000 138,996.84 34.13% 140,000 35% 14,000 133,383.16 123,333.28 120,000 30% 12,000 100,000 25% 10,000 80,000 20% 8,000 60,000 15% 6,000 4,691.93 14.22% 40,000 10% 4,000 9.62% 20,000 5% 2,000 6.26% 717.12 0 0% 0 2025Q1 2025Q2 2025Q3 2025Q4 2023 2024 2025 Net pro?t attributable to the parent deducting non-recurring gain or loss (RMB ten thousand) Operating (RMB0’000) YoY Growth (%, right axis)
main business revenue further increased to 82.37% from 80.12% in the same period last year, while the proportions from the trading business and liquid milk business further declined, with revenues of RMB623,287,700 and RMB364,943,000 respectively. The cheese business maintained a relatively healthy gross profit margin of 33.81%. Meanwhile, the gross profit margins of both the trading business and the liquid milk business increased by 1.30 percentage points and 1.31 percentage points respectively compared to the same period last year. The Company steadily advanced the optimization of its business structure, resulting in a steady improvement in the quality of its main business operations and a continuously improving structural layout. Cheese Revenue Share Increased Quarterly Cheese Revenue and Year-on-Year Continuously in 2025 Changes for 2025 140,000 45% 131,345.58 120,000 110,605.23 35% 102,970.39 100,000 30% 11.12% 25% 2025 11.32% Commodity trade 2024 15% 10% 80.12% 5% 82.37% 2025Q1 2025Q2 2025Q3 2025Q4 (%, Right Axis) Quater-on-Quater Growth Rate (%, Right Axis) reporting period, the research project titled “Cheese Flavor Synergy Enhancement Mechanism and Key Industrialization Technologies”, in which the Company participated, was honored with the “First Prize for Shanghai Municipal Science and Technology Award” awarded by the Shanghai Municipal People’s Government. The Company was also recognized as a “2025 China Famous Consumer Goods Brand” by the Ministry of Industry and Information Technology. Additionally, the Company was again awarded the First Prize for Technological Advancement by the China Dairy Industry Association, this time for its project “Research and Application of Key Technologies and Related Devices for Mousse Cheese.” Furthermore, the Company’s new mini-triangle cheese product was selected as a “2025 Shanghai Specialty Tourism Food.” The Company has been committed to a consumer-centric approach, consistently driving product innovation, enhancing its cheese product portfolio, and further solidifying its leadership in the cheese industry. reporting period, the research project titled “Cheese Flavor Synergy Enhancement Mechanism and Key Industrialization Technologies”, in which the Company participated, was honored with the “First Prize for Shanghai Municipal Science and Technology Award” awarded by the Shanghai Municipal People’s Government. The Company was also recognized as a “2025 China Famous Consumer Goods Brand” by the Ministry of Industry and Information Technology. Additionally, the Company was again awarded the First Prize for Technological Advancement by the China Dairy Industry Association, this time for its project “Research and Application of Key Technologies and Related Devices for Mousse Cheese.” Furthermore, the Company’s new mini-triangle cheese product was selected as a “2025 Shanghai Specialty Tourism Food.” The Company has been committed to a consumer-centric approach, consistently driving product innovation, enhancing its cheese product portfolio, and further solidifying its leadership in the cheese industry. Shanghai First Prize for Municipal Technological Science and Advancement by the Technology 2025 China Famous China Dairy Industry 2025 Shanghai Specialty Award Consumer Goods Brand Association Tourism Food Growing Yogurt Cheese Calcium Cheese Mini Triangles (2) Brand Leadership Milkground has successfully transformed from a children’s cheese brand to one for all consumers through a systematic brand strategy upgrade. The Company has not only transcended the traditional boundaries of children and family customer groups, reaching a wider customer base including young consumers, sports enthusiasts, and the silver-haired population, but has also expanded consumption scenarios to encompass diverse living spaces such as outdoor social gatherings, workplace snacking, and meal pairings. This has achieved a dual breakthrough in both target audience and consumption context, solidifying its position as a cheese brand for everyone. The Company drives growth through an innovative marketing matrix. For its core children’s cheese lollipop products, it consistently generates buzz through concentrated promotion in leading media outlets, conducting nutritional education on the cheese category. Leveraging the holiday economy, it creates event-based marketing campaigns to continuously strengthen brand recognition. The Company implements diverse marketing initiatives, such as promoting new products through marathon events and developing dedicated Nutrition Week programs, to enhance nutritional endorsement and expand the connection between scenarios and consumption. It has sponsored several popular variety shows, deeply integrating product advantages and utilizing celebrity resources to facilitate new product promotion and audience expansion. By organizing featured activities like cheese markets and sponsoring hamburger festivals, the Company cultivates the cheese consumption market, communicates nutritional and functional values, and advances brand upgrading through a series of actions, assuming a leadership role in the category. sector. (2) Brand Leadership Milkground has successfully transformed from a children’s cheese brand to one for all consumers through a systematic brand strategy upgrade. The Company has not only transcended the traditional boundaries of children and family customer groups, reaching a wider customer base including young consumers, sports enthusiasts, and the silver-haired population, but has also expanded consumption scenarios to encompass diverse living spaces such as outdoor social gatherings, workplace snacking, and meal pairings. This has achieved a dual breakthrough in both target audience and consumption context, solidifying its position as a cheese brand for everyone. The Company drives growth through an innovative marketing matrix. For its core children’s cheese lollipop products, it consistently generates buzz through concentrated promotion in leading media outlets, conducting nutritional education on the cheese category. Leveraging the holiday economy, it creates event-based marketing campaigns to continuously strengthen brand recognition. The Company implements diverse marketing initiatives, such as promoting new products through marathon events and developing dedicated Nutrition Week programs, to enhance nutritional endorsement and expand the connection between scenarios and consumption. It has sponsored several popular variety shows, deeply integrating product advantages and utilizing celebrity resources to facilitate new product promotion and audience expansion. By organizing featured activities like cheese markets and sponsoring hamburger festivals, the Company cultivates the cheese consumption market, communicates nutritional and functional values, and advances brand upgrading through a series of actions, assuming a leadership role in the category. arena to daily life, Milkground accompanies consumers through every key moment. This comprehensive IP matrix linkage has forged a strong link between brand recognition and category association, continuously solidifying the consumer mindset that “Milkground equals cheese”.The Company adheres to a long-term focused strategy for brand publicity, maintaining a sustained presence across core media including CCTV, Satellite TV, and Focus Media. Concurrently, embracing market evolution, Milkground has expanded to streaming platforms like iQIYI, established a presence on social media matrices such as Douyin, Xiaohongshu, and video channels, and deepened O2O scenario-based marketing. This allows for in-deep interaction with consumers through content-relevant consumption scenarios, achieving communication goals that align with business objectives and synergize branding, marketing and sales. Through the precise deployment of this comprehensive media matrix, Milkground continuously enhances brand awareness and reputation, consolidating its position as the top-of-mind cheese brand and firmly embedding the brand value proposition of “Milkground, the best cheese choice” profoundly rooted in people’s mind. warmth of “guardians of childhood, accompanied by deliciousness (守护童心?美味相伴).” From the sports arena to daily life, Milkground accompanies consumers through every key moment. This comprehensive IP matrix linkage has forged a strong link between brand recognition and category association, continuously solidifying the consumer mindset that “Milkground equals cheese”.The Company adheres to a long-term focused strategy for brand publicity, maintaining a sustained presence across core media including CCTV, Satellite TV, and Focus Media. Concurrently, embracing market evolution, Milkground has expanded to streaming platforms like iQIYI, established a presence on social media matrices such as Douyin, Xiaohongshu, and video channels, and deepened O2O scenario-based marketing. This allows for in-deep interaction with consumers through content-relevant consumption scenarios, achieving communication goals that align with business objectives and synergize branding, marketing and sales. Through the precise deployment of this comprehensive media matrix, Milkground continuously enhances brand awareness and reputation, consolidating its position as the top-of-mind cheese brand and firmly embedding the brand value proposition of “Milkground, the best cheese choice” profoundly rooted in people’s mind. enriching the product matrix and contributing to performance growth. For the B-end catering channels, the Company integrated the product and channel strengths of its brands, continuously promoting its transformation and upgrading from a product seller to a professional dairy service provider. During the reporting period, core products including Mozzarella cheese, cheese slices, butter, and whipping cream simultaneously scaled up in volume. Leveraging its robust technological and supply chain capabilities, the Company provided customers with one-stop professional dairy solutions.(4) Management Efficiency Enhancement ? Establishing a supply chain full-process management system to enhance end-to-end management efficiency The Company has continuously improved its supply chain full-process management system, achieving end- to-end management across planning, production and sales. Through digital and intelligent upgrades, it has further enhanced supply chain management efficiency, laying a solid foundation for cost reduction and efficiency gains. Leveraging its accumulated proprietary technological expertise in the cheese sector, the Company has consistently evolved its innovation capabilities to meet market demands while maintaining excellent product quality. During the reporting period, the Company was honored with the “Excellent Supply Chain Award” and the “Golden Pot Award” by YumChina, and was also recognized as one of the first batch of “YumChina Strategic Partners”. ? Fully implementing a range of strategic cost-reduction and efficiency-enhancing measures to build a corporate cost advantage The Company has fully initiated a range of strategic cost-reduction and efficiency-enhancing measures, regarding this as a key competitive moat for building its core competitiveness. Focusing on lean collaboration, lean production, and lean management as core drivers, the Company has introduced professional management models through coordinated management covering the entire chain, including R&D, procurement and manufacturing. This has propelled organizational efficiency and capability to a higher level. During the reporting period, both organizational efficiency and per capita output achieved improvements. with existing systems, significantly enhancing testing efficiency and data reliability.
Total number of holders of ordinary shares at the end of the previous month before the date of publishing the annual report (individual) 40,385 Total number of holders of preference shares with voting rights restored as at the end of the reporting period (individual) 0 Total number of holders of preference shares with voting rights restored at the end of the previous month before the date of publishing the annual report (individual) 0
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