证券代码：920371 证券简称：欧福蛋业 公告编号：2026-001 苏州欧福蛋业股份有限公司 第四届董事会第五次会议决议公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、 误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连 带法律责任。 一、会议召开和出席情况 （一）会议召开情况 1.会议召开时间：2026 年 1 月 8 日 2.会议召开地点：公司会议室 3.会议召开方式：现场结合通讯方式 4.发出董事会会议通知的时间和方式：2026 年 1 月 5 日以电话或电子邮件方 式发出 5.会议主持人：董事长 Henrik Pedersen 6.会议列席人员：公司高级管理人员 7.召开情况合法合规的说明： 1.议案内容： 为规范公司与关联方之间发生的关联交易，根据公司 2025 年关联交易发生 情况，公司制定了 2026 年度日常关联交易计划。 具体内容详见公司于同日在北京证券交易所官方信息披露平台(www.bse.cn) 上披露的《关于预计 2026 年日常性关联交易的公告》(公告编号:2026-002)。 2.议案表决结果：同意 4 票；反对 0 票；弃权 0 ...

Investment Rating - The report initiates coverage with a "Buy" rating for the company [2][9]. Core Insights - The company, originating from Denmark, has pioneered and leads the egg processing industry in China, with a strong market position and growth potential [8][21]. - The domestic egg processing ratio is low, currently at 5%-7%, compared to 50% in Japan, 33% in the USA, and 25% in the EU, indicating significant room for market expansion [8][40]. - The company has established a robust quality control system and customer relationships, which are expected to create competitive barriers and drive industry growth [8][12]. Financial Data and Profitability Forecast - Total revenue projections for the company are as follows: - 2024: 906 million CNY - 2025: 914 million CNY - 2026: 1,084 million CNY - 2027: 1,236 million CNY - The expected growth rates are -6.8% for 2024, 0.8% for 2025, 18.6% for 2026, and 14.1% for 2027 [7]. - Net profit forecasts are: - 2025: 94 million CNY - 2026: 112 million CNY - 2027: 130 million CNY - The company’s gross margin is projected to be around 23.8% in 2025, with a return on equity (ROE) of 15.1% [7][9]. Business Overview - The company has four main product lines: liquid eggs, egg powder, prepared egg products, and beverages, with liquid eggs and egg powder accounting for over 90% of revenue [29][30]. - The prepared egg products segment is experiencing rapid growth, while the beverage segment is still in the cultivation phase [29][30]. Market Demand and Growth Drivers - The baking market in China is expected to grow at a CAGR of 7.4% from 2023 to 2029, driven by diverse consumption scenarios [57]. - The restaurant sector is seeing a shift towards more affordable and nutritious ingredients, with eggs being a key component [8][57]. - The C-end market is expanding, particularly among younger consumers who are increasingly health-conscious [8][57]. Competitive Advantages - The company has a high-level, standardized quality control system that covers the entire production process, ensuring food safety [8][12]. - It has accumulated significant customer resources, which are being converted into competitive barriers [8][12]. Investment Analysis - The company is projected to achieve net profits of 0.94 billion CNY in 2025, 1.12 billion CNY in 2026, and 1.30 billion CNY in 2027, with corresponding price-to-earnings (PE) ratios of 24, 20, and 17 [9]. - The target market capitalization is set at 3.2 billion CNY, indicating a potential upside of 45% from the current closing price [9].

证券代码：920371 证券简称：欧福蛋业 公告编号：2025-107 苏州欧福蛋业股份有限公司股票解除限售公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、 误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连 带法律责任。 一、本次股票解除限售数量总额为 326,861 股，占公司总股本 0.1592%，可交易 时间为 2025 年 12 月 24 日。 二、本次股票解除限售的明细情况及原因 单位：股 | 序号 | 股东姓名 或名称 | 是否为控 股股东、 实际控制 | 任职情况 | 本次解限 | 本次解除 限售登记 | 本次解 除限售 股数占 | 尚未解除 限售的股 | | --- | --- | --- | --- | --- | --- | --- | --- | | | | 人或其一 | | 售原因 | 股票数量 | 公司总 | 票数量 | | | | 致行动人 | | | | 股本比 | | | | | | | | | 例 | | | 1 | 华景阳 | 否 | 核心员工 | C | 217,907 | 0.1061% | 267,075 | | 2 | ...

Group 1 - The report emphasizes the importance of domestic demand as the primary driver for economic growth in 2026, with a focus on implementing consumption-boosting initiatives and enhancing the domestic market [11][12][13] - The contribution rate of domestic demand to economic growth from 2021 to 2024 is projected to be 86.4%, with final consumption accounting for an average contribution rate of 56.2% [12][13] - The report highlights the shift in the retail industry towards quality and service-driven growth, as discussed in the National Retail Innovation Development Conference [15][16] Group 2 - The North Exchange's consumer services sector saw a weekly increase of 0.44%, with food and beverage sector rising by 3.32% [25][31] - As of December 13, 2025, there are 25 companies related to the consumer services sector in the North Exchange's queue, with an average revenue of 1.242 billion yuan and an average net profit of 140.35 million yuan for 2024 [47][48] - Notable companies in the consumer services sector include Yizhi Moyu, which has a market value of 3.555 billion yuan and a net profit of 62.34 million yuan for 2025 Q1-Q3 [24][35] Group 3 - The Consumer Price Index (CPI) for November 2025 increased by 0.7% year-on-year, primarily driven by rising food prices [36][38] - The average wholesale price of pork is reported at 17.65 yuan per kilogram, while the average price of eggs is at 7.43 yuan per kilogram, reflecting market conditions [40][41] - The report indicates that the average price of fresh milk in major producing provinces is 3.02 yuan per kilogram, remaining stable compared to the previous week [46] Group 4 - The report outlines the significant sales performance during the "Double 11" shopping festival, with home appliances, digital devices, and clothing being the top three categories by sales volume [19][21] - The "Double 12" shopping event is set to further stimulate consumer spending, with various platforms launching promotional activities [18][22] - The report identifies 20 related stocks in the North Exchange for the "Double 12" event, covering categories such as home appliances, personal care, and food and beverages [23][24]

关于募集资金使用完毕并注销募集资金专户的公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记 载、误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个 别及连带法律责任。 证券代码：920371 证券简称：欧福蛋业 公告编号：2025-106 苏州欧福蛋业股份有限公司 苏州欧福蛋业股份有限公司 一、募集资金基本情况 三、募集资金专户的注销情况 截至本公告披露日，公司募集资金已按规定全部使用完毕，并已对上述募集 资金专户全部进行注销，销户前已将募集资金专户的利息收入合计 83.20 元转入 公司普通账户。上述募集资金专户注销后，公司与保荐机构及相关募集资金存放 银行签署的《募集资金三方监管协议》相应终止。 四、备查文件 《撤销银行结算账户申请书》 公司于 2022 年 12 月 21 日收到中国证券监督管理委员会《关于同意苏州欧 福蛋业股份有限公司向不特定合格投资者公开发行股票注册的批复》（证监许可 〔2022〕3128 号）。公司本次发行募集资金净额为 112,822,477.86 元，募集资 金到账时间为 2023 年 1 月 10 日和 2023 年 2 月 17 日（行使超 ...

申万宏源证券承销保荐有限责任公司关于苏州欧福蛋业股份有限公司新增预计 2025 年日常性关联交易的核查意见 申万宏源证券承销保荐有限责任公司 一、新增预计 2025 年日常性关联交易情况 2025 年 11 月 13 日，公司第四届董事会第四次会议审议通过了《关于新增 预计 2025 年日常性关联交易的议案》，同意公司因业务需要、新增 2025 年预计 与关联方 Ovodan Foods A/S 发生的日常性关联交易金额 1000 万元，主要向关联 方出售公司蛋粉等产品。 本次拟新增预计日常关联交易后，公司 2025 年度预计日常性关联交易的整 体情况如下： 1 申万宏源证券承销保荐有限责任公司关于苏州欧福蛋业股份有限公司新增预计 2025 年日常性关联交易的核查意见 | | | | | | | 上年实际发 | 调整后预计金额与 上年实际发生金额 | | --- | --- | --- | --- | --- | --- | --- | --- | | 关联交易类别 | 主要交易内容 | 原预计金额 | 累计已发生金额 | 新增预计发生金额 | 调整后预计发生金额 | 生金额 | 差异较大的原因 | | | ...

证券代码：920371 证券简称：欧福蛋业 公告编号：2025-105 苏州欧福蛋业股份有限公司 2025 年 4 月 25 日，公司召开第三届董事会审计委员会第十次会议、第三届董事会 第三次独立董事专门会议、第三届董事会第二十三次会议，审议通过了《关于预计 2025 年日常性关联交易的议案》。2025 年 5 月 21 日，该议案经公司 2024 年年度股东会审议 通过。具体内容详见公司在北京证券交易所官方信息披露平台(www.bse.cn)上披露的 《关于预计 2025 年日常性关联交易的公告》（公告编号：2025-017）。 关于新增预计 2025 年日常性关联交易的公告 2025 年 8 月 19 日、8 月 20 日、8 月 21 日，公司分别召开第四届董事会第一次独 立董事专门会议、第四届董事会审计委员会第二次会议、第四届董事会第二次会议，审 议通过了《关于新增 2025 年日常性关联交易的议案》。具体内容详见公司在北京证券交 易所官方信息披露平台(www.bse.cn)上披露的《关于新增 2025 年日常性关联交易的公 告》（公告编号：2025-097）。 本公司及董事会全体成员保证公告内容的真 ...

一、会议召开和出席情况 （一）会议召开情况 证券代码：920371 证券简称：欧福蛋业 公告编号：2025-104 苏州欧福蛋业股份有限公司 第四届董事会第四次会议决议公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、 误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连 带法律责任。 1.会议召开时间：2025 年 11 月 13 日 2.会议召开地点：公司会议室 3.会议召开方式：现场结合通讯方式 4.发出董事会会议通知的时间和方式：2025 年 11 月 8 日以电话或电子邮件 方式发出 5.会议主持人：董事长 Henrik Pedersen 6.会议列席人员：公司高级管理人员 7.召开情况合法合规的说明： 本次会议的召集、召开、议案审议程序符合《公司法》及相关法律、法规和 《公司章程》的规定。 具 体 内 容 详 见 公 司 于 同 日 在 北 京 证 券 交 易 所 官 方 信 息 披 露 平 台 (www.bse.cn)上披露的《关于新增预计 2025 年日常性关联交易的公告》(公告编 号:2025-105)。 2.议案表决结果：同意 6 票；反对 0 票 ...

Group 1 - The agricultural processing sector increased by 1.05% on November 10, with Yichang Magic leading the gains [1] - The Shanghai Composite Index closed at 4018.6, up 0.53%, while the Shenzhen Component Index closed at 13427.61, up 0.18% [1] - Key stocks in the agricultural processing sector showed significant price increases, with Yichang Magic rising by 6.97% to a closing price of 38.38 [1] Group 2 - The agricultural processing sector saw a net inflow of 30.35 million yuan from main funds, while retail investors experienced a net outflow of 48.61 million yuan [2] - Major stocks like COFCO Sugar and Jinlongyu attracted significant main fund inflows of 59.89 million yuan and 36.12 million yuan, respectively [3] - Retail investors showed a negative trend in several stocks, with notable outflows from COFCO Sugar and Jinlongyu [3]

Core Insights - The agricultural processing sector experienced a slight increase of 0.38% on November 5, with Tianye Co., Ltd. leading the gains [1] - The Shanghai Composite Index closed at 3969.25, up 0.23%, while the Shenzhen Component Index closed at 13223.56, up 0.37% [1] Agricultural Processing Sector Performance - Tianye Co., Ltd. (code: 920023) closed at 4.62, with a rise of 4.76% and a trading volume of 256,500 shares, amounting to a transaction value of 118 million yuan [1] - Other notable performers included: - Triangle Dyeing (code: 600191) at 9.53, up 3.70% [1] - Yichang Konjac (code: 920273) at 37.20, up 2.65% [1] - Oufu Egg Industry (code: 920371) at 11.56, up 1.94% [1] - Jingliang Holdings (code: 000505) at 7.14, up 1.85% [1] Capital Flow Analysis - The agricultural processing sector saw a net outflow of 75.89 million yuan from institutional investors and 24.36 million yuan from speculative funds, while retail investors contributed a net inflow of 100 million yuan [2] - The detailed capital flow for selected stocks included: - Deep Root Holdings (code: 000019) with a net inflow of 11.44 million yuan from institutional investors [3] - Morning Light Biological (code: 300138) with a net inflow of 6.21 million yuan from speculative funds [3] - ST Jiawo (code: 300268) experienced a significant net outflow of 1.61 million yuan from institutional investors [3]