jiemianxinwenjizhe zhangxiaodi

chuangshirenxiehongyu2018nianhuiguibeiyinmei（002570.sz）hou，dailaidedamafanchixuzhijin。

2018nian3yue，53suidexiehongzaibeiyinmeiyejixiahua，“pixingdaimao”deweijishikezhonghuibeiyinmei，tahenhuabushao——“buzuodao300yinianyingshou，shizhidadao1000yi，wobuhuikaolvtuixiu!”、“youxinxin，zai30zhounianqingdeshihou，yejiushi2022nian，beiyinmeijiangzhonghuidianfeng，bingbuduanchaoyueziwo。”

haoyanyouzaier，xianshiquebingleng。

jiezhi2024nian2yue28rishoupan，beiyinmeigujiayidiezhi3.22yuan/gu，chuangxialishixindi，qishizhiyejiaodianfengshiqizhengfa260duoyi。

shishishang，zheiyukonggugudongbeiyinmeijituanfuzadezhaiwufengxianbuwuxiangguan。

大股东99.13%股权在押

2024nian2yue27ri，beiyinmeipilukonggugudongbeiyinmeijituanbufengufenzhiyaxiangguanqingkuang。

jugonggao，2yue22ri，beiyinmeijiechulezhiyajizhongguojinguguojixintuoyouxianzerengongside421.10wangu，gaibigufenzhanbeiyinmeijituansuochibeiyinmeijituangufende2.33%，zhanbeiyinmeizonggufende0.39%。

xuanji，zheibigufenzhuanshouyouzhiyajileningboxindahuajiantouziyouxiangongsi，zhiyazhi2025nian1yue1ridaoqi。

jiezhimuqian，beiyinmeijituanchiyoubeiyinmei1.81yigu，zhanbeiyinmeizonggubende16.72%，qizhong1.79yichuyuzhiya/dongjiezhuangtai，zhiyalvda99.13%，qisuozhiyagufenzhanbeiyinmeizonggubende16.58%。

shenxianzhaiwunitandebeiyinmeijituanzuoweibeiyinmeikonggugudongdediweijijikewei。

beiyinmeicheng，konggugudongbencigufenzhiyaweibuchongdanbaoxuyao，xiangguanrongzibuyongyumanzushangshigongsishengchanjingyingxiangguanxuqiu。 

chushangshuzhiya/dongjiegufen，beiyinmeijituanweilaiyinianneidaoqidezhiyagufenshuliangwei3200wangu，zhanqisuochigongsigufende17.72%，zhangongsizonggubende 2.96%。

jiezhi2023niandi，beiyinmeijituanzichanzonge19.33yiyuan，fuzhaizonge17.97yiyuan，zichanfuzhailvgaoda92.98%。2023nianbeiyinmeijituanshixianyingyezongshouru1368.19wanyuan，shixianjinglirun-2743.87wanyuan。

dangqianqijiekuanzongyue7.14wanyuan，weilaibannianneixuchangfudezhaiwu4.81yiyuan。

duici，beiyinmeitancheng，konggugudongdangqianmianlinjiaodazijinkunnan，qijiangduigujiabodongzuohaochongfendeyingduizhunbei，muqianbuhuichuxianyingufenzhiyafengxianyinfashangshigongsikongzhiquanbiangengdefengxian。bencizhiyabucunzaipingcangfengxian。

zhideyitide，muqianbeiyinmeigujiayidiezhi3.22yuan/gu，chuangxialishixindi。

beiyinmeizhuyaocongshiyingyouerpeifangnaifen、yingyangmifenheqitayingyouerfushi、yingyangpindeyanfa、shengchanhexiaoshou。

2008nian，zhongguoruqibaofasanjuqinganshijian，erbeiyinmeiqueyinbushejisanjuqinganchouwen，zaiguoneishichangjingzhengzhonghuofenbushao。juacniersendiaoyanshuju，jiezhi2009nian12yue，beiyinmeiyingyouerpeifangnaifenshizhanlv9.3%，weijuqianshidapinpainaifendisi，guochanpinpaipaimingdier；2010 nian1-10yue，shizhanlv10.8%，paimingshengzhiqianshidisan，guochandiyi。

suihoude2011nian，beiyinmeidenglushenjiaosuo，chenggongjinshengwei“guochannaifendiyigu”。tongnian，chuangshirenxiehongciqubeiyinmeidongshizhang、zongjinglizhiwu，tuijumuhou。

2011nian-2013nianbeiyinmeiyejiyilugaoge，fenbieshixianyingshou47.27yiyuan、53.54yiyuan、61.17yiyuan，tongbizengsu17.34%、13.28%、14.24%；guimujingli4.37yiyuan、5.09yiyuan、7.21yiyuan，tongbizengsu3.48%、16.59%he41.54%。

2013nian，beiyinmeigujiazuigaoshiyiducuanshengzhi27.97yuan/gu，shizhichao300yiyuan。

dan2014nian，beiyinmeiqueyinglaiguaidian。2014nian，beiyinmeiyingshoudafuxiahua17.46%zhi50.49yiyuan，guimujinglisuoshui90.45%zhi0.69yiyuan。cihoubeiyinmeiyiluxiangxia，yingshoucong2015niande45.34yiyuansuozhi2017niande26.6yiyuan，guimujinglicong1.04yiyuansuozhi-10.57yiyuan。eryin2016nian、2017nianlianxukuisun，beiyinmeiyidu“pixingdaimao”lunwei*stbeiyinmei。

2018nian3yue，53suidexiehonghuiguibeiyinmei，yuwankuanglan，buliaoquejiewaishengzhi。

jubeiyinmeigonggao，2018nianbeiyinmeijituanyuzhonghangxintuoqiandingzhiyajiekuanxieyi，beiyinmeijituanjiangqichiyoude4800wangubeiyinmeigufenzhiyajizhonghangxintuo，zhonghangxintuoxiangqichujie2.33yiyuan。beiyinmeijituanyijixiehong、shirenfarenyuanfangtigongliandaizerenbaozhengdanbao。

2020nian4yue，zhonghangxintuojiangcibizhaiquanzhuanrangjizhangchengguorong。erbeiyinmeijituan、xiehongyijiyuanfangweianyuedinglvxingyiwu，zhangchengguorongxiangfayuanshenqingqiangxingzhixing。zhixingbiaode3.16yiyuan、lingzengzhaiwulixi、zhixingfeiheji38.35wanyuan。

2023nian1yue，hangzhouzhongyuanlian。2yuefen，hangzhouzhongyuandongjielebeiyinmeijituanzhiyajizhonghangxintuode4800wanguwuxianshouliutonggu，tongshidongjielejituanzhiyajijianxinghangzhougaoxinzhixingde500wanguwuxianshouliutonggu。

cishiyeyiduyinfashenjiaosuoguanzhu。2023nian2yue，shenjiaosuoxiangbeiyinmeixiafaguanzhuhan，yaoqiugongsibuchongpilushikongfangjiqiyizhixingdongrengufendongjiehezhiyaqingkuang，bingshuomingshifoucunzaiqiangzhipingcangfengxian。

zhideyitideshi，daole2023nian12yue，zhangchengguorongnijianggaizhaiquanyi3.42yuanjiagezhuanrang，bingzuizhongzhejiayi2.33yiyuanjiageshuaishou。

贝因美基本面堪忧

dagudonggaobilizhiya“heitiane”ruyingxiangsuizhixia，beiyinmeijibenmianyeburongleguan。

duiyu2014nianhouyejixiahuadeyuanyin，jiemianxinwencengbaodao，xi2011nianbeiyinmeiweichongcishangshi，daliangkaishexianjijingxiaoshang。yishiqixianjijingxiaoshangcongliangsanbaigekuozhangdaoshangqiange，huoyajingxiaoshang、tonglukucunyalida。

2015nian，gongsikaishiqinglirongyujingxiaoshang，qieqianqicunhuojiyajineryouyinfalejiagezhan。zici，beiyinmeiyuanqidashang。

jinnianlai，beiyinmeikaishitansuodianshangqudao，huolifeiqian，buguorengbaoluleguanliloudong。

jinri，ningboshibeilunqushichangjianduguanlijupilu，beiyinmeiqixiaquanzizigongsibeiyinmei(ningbo)dianzishangwuyouxiangongsi（xiacheng“beiyinmeidianshang”）yinxujiaguanggaobeichufa。

beilunqushichangjianduguanlijuchufawenshuxianshi，2023nian9yue25ri，dangshirenzaiqiwangdianshangjiamoupinpai“danbaizhifen”deputongshipin，xiaoshouyemianzhutushangguanggaoxuanchuanneirongwei“quanjiakexiangyou，zengqiangmianyili”，houyu2023nian11yue6rishanchushangshuguanyu“zengqiangmianyili”degongxiaoyongyu；

2023nian10yue10ri，dangshirenshangjiamoupinpai“linzhiduoweidanbaifen”putongshipin，xiaoshouyemiandeguanggaoxuanchuanneironghan“huanxinggaoxiaojiyi、xuexibuleiyan、hehuxingannao、yuanlixinxueguanjibing……”，houyu2023nian11yue7rixiajia。

beilunqushichangjianduguanlijubiaoshi，dangshirenzaiqiwangdianfabushangshuguanggaoxuanchuanneirongdexingwei，weifanle《zhejiangshengguanggaoguanlitiaoli》dishitiaodiyikuandeguiding，shuyubaojianshipinyiwaideqitashipinxuanchengbaojiangongxiaodeweifaxingwei。yiju《zhejiangshengguanggaoguanlitiaoli》disanshiertiaodiyixiangzhiguiding,zonghecailiangqingjie,juedingduidangshirenfakuan20000yuan。

gongkaiziliaoxianshi，beiyinmeidianshangxibeiyinmeiqixiaquanzizigongsi，shiqidianshangpingtaiguanfangqijiandianjingyingzhuti。

beiyinmeidianshangpingtaiduiqiyejigongxianbuduantisheng。

caiwushujuxianshi，2021nian、2022nianyiji2023nianshangbannian，beiyinmeidedianshangpingtaishourufenbiewei3.92yiyuan、4.37yiyuan、2.43yiyuan，gaiyewushouruzhanyingshoubizhongyilucong6.83%zengzhi18.87%。

2024nian1yue30ri，beiyinmeifabuyejiyugaocheng，yuji2023nianshixianguimujinglirun4000wanyuanzhi6000wanyuan，shixianniukuiweiying。erduiyuyejibiandongdeyuanyin，gongsitidao“jijituijinzhuanyexiaofeipinhulianwangshuzhihuayingxiao”degonglao。

jinguanyejiyiyousuohuifu，zichanfuzhailvyouyidingdegaishan，danbeiyinmeiyecunzaiyidingdeduanqichangzhaiyali。

jugongkaicaibao，2020nian-2023nianqiansanji，beiyinmeizichanfuzhailvwei62.67%、54.86%、58.96%、57.54%。jiezhi2023niansanjidumo，beiyinmeizhangmianhuobixianjinjixianjindengjiawuheji7.484yiyuan，ertongqiduanqijiekuanzeda8.87yiyuan，youxifuzhaizonge9.28yiyuan，sudongbilvwei0.76。

shaozaoqiande2024nian1yue16ri，beiyinmeilianfagonggao，nishiyongbengongsijizigongsizichan，xiangyinxingdiyadaikuanyongyurichangshengchanjingying，yijixiangyinxingshenqingjiekuan、kailichengduihuipiaodeng。

beiyinmeicheng，2024niandushengchanjingyingxuyao，nixiangyinxingshenqingjiekuan、kailiyinxingchengduihuipiaodengzongjibuchao28.3yiyuandezongheshouxinedu。

genjugonggao，shangshubeiyinmeinixiangyinxingshenqingdiyadaikuandezichan，jiezhi2023nianmozhangmianjiazhiwei10.25yiyuan，zhanzuijinyiqijingshenjizongzichande26.43%。

zhideyitideshi，gaipizichanzi2020nianqiyibeifanfudiya5ci。

zigubuxia，duiyudagudongzhaiwufengxianjiguquanbeizhiyayishi，beiyinmeicheng，beiyinmeijituanhaikuanzijinlaiyuanyuziyouhuozichouzijin，zhiyafengxianjibenkekong。beiyinmeijituanjiqiyizhixingdongrenyuqibucunzaifeijingyingxingzijinzhanyong、 weiguidanbaodengqinhaishangshigongsiliyideqingxing。 

bencikonggugudonggufenzhiyashixiangbuhuiduishangshigongsishengchanjingying、gongsizhilidengchanshengbuliyingxiang，bencizhiyagufenbushejizhongdazichanzhongzudengyejibuchangdeqingxing。