Core Viewpoint - Livestock stocks have collectively risen, with specific companies showing significant gains, indicating a positive market sentiment despite recent price adjustments due to temporary factors [1] Group 1: Stock Performance - Yuran Livestock (09858) increased by 6.71%, reaching HKD 3.34 [1] - Modern Farming (01117) rose by 4.2%, priced at HKD 1.24 [1] - Ecological Farming (01431) saw a 1.82% increase, now at HKD 0.28 [1] - China Shengmu (01432) gained 1.45%, trading at HKD 0.35 [1] Group 2: Market Analysis - CITIC Securities reported that the recent slowdown in dairy cow inventory reduction has led to a temporary price adjustment in livestock stocks, but this will not disrupt the underlying cyclical logic [1] - The dairy cow inventory is expected to continue its reduction trend, with the turning point for raw milk prices approaching as seasonal demand weakens and operational pressures on farms increase [1] Group 3: Future Outlook - Tianfeng Securities indicated that the current dairy cow capacity reduction may be nearing its end, with Q3 silage purchases potentially accelerating inventory clearance, leading to a rebound in raw milk prices [1] - Beef prices may also see a turning point, although various factors such as funding, confidence, and environmental regulations may affect the pace of restocking [1] - Companies with cow resources or those employing a "milk-meat linkage" model are expected to demonstrate stronger profitability, with recommendations to focus on Yuran Livestock, China Shengmu, Guangming Meat, Modern Farming, and Australia Asia Group [1]

公告表示，上述变动主要由于本地原料奶价格及销量上升，毛利较相应年度增加；本地原料奶价格上 升，于该年度的生物资产公平值变动减销售成本的亏损较2018年度减少；集团于该年度产生的行政费用 与2018年度相比减少，包括以权益结算的购股权费用；以及集团于该年度产生与搬迁拜泉瑞信诚牧场 (公司间接全资附属公司拜泉瑞信诚牧业有限公司经营的牧场)有关的减值亏损及应计费用较2018年度减 少。 原生态牧业(01431.HK)发布公告，预期集团截至2019年12月31日止年度将录得纯利，而2018年度的净亏 损约为人民币5.5631亿元。 ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年9月30日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 原生態牧業有限公司 呈交日期: 2025年9月30日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 01431 | 說明 | 普通股 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 50,000,000,000 | HKD | | 0.01 | HKD | | 500,000,000 | | 增加 / 減少 (-) | | | 0 | | | | HKD | | 0 | | 本月底結存 | | | 50,000,000,000 | HKD | | 0.01 | HKD | | 500,000,000 ...

Core Viewpoint - The livestock sector in Hong Kong has experienced significant gains, with multiple companies showing substantial stock price increases on September 30. Group 1: Company Performance - YouRan Agriculture (09858.HK) saw a stock price increase of 10.26%, reaching HKD 3.33 [1] - China Shengmu (01432.HK) rose by 9.23%, with a stock price of HKD 0.355 [1] - Original Ecology Agriculture (01431.HK) increased by 3.39%, trading at HKD 0.305 [1] - Modern Agriculture (01117.HK) experienced a rise of 2.36%, with a stock price of HKD 1.3 [1]

Core Viewpoint - The livestock stocks are experiencing significant gains, with companies like Yuran Dairy, China Shengmu, and others seeing substantial increases in their share prices due to favorable market conditions and strategic agreements [1] Company Summaries - Yuran Dairy (09858) shares rose by 10.26%, reaching HKD 3.33 [1] - China Shengmu (01432) shares increased by 9.23%, reaching HKD 0.355 [1] - Original Ecology Dairy (01431) shares went up by 3.39%, reaching HKD 0.305 [1] - Modern Dairy (01117) shares rose by 2.36%, reaching HKD 1.3 [1] Industry Insights - Original Ecology Dairy announced an agreement with its controlling shareholder, China Feihe, to supply raw milk from 2026 to 2028, with proposed annual sales caps of RMB 3.1 billion, RMB 3.4 billion, and RMB 3.7 billion, which would account for 96% of total revenue [1] - The price of raw milk is expected to be no less than that offered to independent third-party customers [1] - Tianfeng Securities indicated that the current dairy cow capacity reduction may be nearing its end, with Q3 silage purchases potentially accelerating the clearing process, leading to a rebound in raw milk prices [1] - Beef prices may be at a turning point, but various factors such as funding, confidence, and environmental concerns could affect the willingness to restock, impacting future price increases [1] - Companies with cow resources or those adopting a "milk-meat linkage" model are expected to have stronger profitability [1] - Suggested companies to watch include Yuran Dairy, China Shengmu, Guangming Meat Industry, Modern Dairy, and Aoyuan Group [1]

Group 1 - The core viewpoint of the article highlights the rising stock prices of dairy companies, with significant increases observed in shares of YouRan Dairy, China Shengmu, and others [1] - YouRan Dairy's stock rose by 10.26% to HKD 3.33, while China Shengmu increased by 9.23% to HKD 0.355, indicating strong market interest in the sector [1] - Original Ecology Dairy announced a supply agreement with its controlling shareholder, China Feihe, for raw milk from 2026 to 2028, with proposed annual sales caps of RMB 3.1 billion, RMB 3.4 billion, and RMB 3.7 billion, representing 96% of total revenue [1] Group 2 - Tianfeng Securities noted that the current dairy cow capacity reduction may be nearing its end, with Q3 silage purchases potentially accelerating the clearing of marginal costs, leading to a rebound in raw milk prices [1] - Beef prices may be at an inflection point, but various factors such as funding, confidence, and environmental concerns could affect the willingness to restock, impacting future price increases [1] - Companies with cow resources or those adopting a "milk-meat linkage" model are expected to have stronger profitability, with recommendations to focus on YouRan Dairy, China Shengmu, Guangming Meat, Modern Dairy, and Aoyuan Group [1]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示，概 不 對 因 本 公 告 全部或任何部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責 任。 YuanShengTai Dairy Farm Limited 原生態牧業有限公司 （於百慕達註冊成立的有限公司） （股份代號：1431） 持續關連交易 – 1 – 由於二零二六年飛鶴主協議項下最高建議年度上限於上市規則項下之一項 或多項適用百分比率超過25%，故 二 零 二 六 年 飛 鶴 主 協 議 及 其 項 下 擬 進 行 交 易須遵守上市規則第14A章 項 下 的 申 報、公 告 及 獨 立 股 東 批 准 規 定。 獨 立 董 事 委 員 會 已 告 組 成，以 就 二 零 二 六 年 飛 鶴 主 協 議 及 其 項 下 擬 進 行 的 交 易（包 括 與 該 等 交 易 有 關 的 建 議 年 度 上 限）向 獨 立 股 東 提 供 意 見。嘉 林 資 本 已 獲 委 任 為 獨 立 財 務 顧 問，就 此 向 獨 立 董 事 委 員 ...

Group 1 - Recent rebound in Hong Kong dairy stocks, with China Feihe and Mengniu Dairy both rising by 3.36%, and other companies like Yuan Ecological Agriculture and Ausnutria also showing positive growth [1] - CITIC Securities highlights a shift in the domestic dairy industry from "drinking milk" to "processing milk," indicating a new phase of development in deep processing products, with future capacity expected to exceed 700,000 tons [1] - The B-end deep processing demand is projected to exceed 26 billion yuan, driven by high demand in baking, ready-to-drink beverages, and Western fast food sectors [1] Group 2 - Domestic raw milk prices show signs of bottoming out after a period of low performance, with supply-side reductions in dairy cow inventory due to previous losses and improving demand as consumption recovers [1] - The supply-demand relationship in the dairy market is gradually moving towards balance, indicating potential for future growth [1]

N O T I F I C AT I O N L E T T E R 通 知 信 函 Dear Non-registered holders(Note) (Incorporated in Bermuda with limited liability) ( 在百慕達成立之有限公司） (Stock code / 股份代碼：1431) Please note that both the English and Chinese versions of all future Corporate Communications will be available electronicall y on the websites of the Company at www.ystdfarm.com or www.ystdairyfarm.com and the website of The Stock Exchange of Hong Kong Limited at www.hkexnews.hk in place of printed copies. As a non-registered shareholder, if y ...

YuanShengTai Dairy Farm Limited 原生態牧業有限公司 (Incorporated in Bermuda with limited liability) Dear Registered Shareholders, YuanShengTai Dairy Farm Limited (the "Company") Notice of Publication of Interim Report 2025 (the "Current Corporate Communications") The Current Corporate Communications of the Company have been published in English and Chinese languages and are available on the website of The Stock Exchange of Hong Kong Limited ("HKEX") at www.hkexnews.hk and the Company's website at www.ystdfarm.com or ...