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 ...

目 錄 | | | 3 管理層討論與分析 12 企業管治及其他資料 16 獨立審閱報告 17 中期簡明綜合損益及其他全面收益表 18 中期簡明綜合財務狀況表 20 中期簡明綜合權益變動表 21 中期簡明綜合現金流量表 22 中期簡明綜合財務資料附註 公司資料 董事會 執行董事 張永久先生 （主席兼行政總裁） 陳祥慶先生 （財務總監） 劉剛先生 非執行董事 冷友斌 先 生 劉華先生 蔡方良先生 獨立非執行董事 陳祥慶先生 劉剛先生 審核委員會 蒙靜宗先生 （主 席） 張月周先生 劉晉萍女士 薪酬委員會 張月周先生 （主 席） 蒙靜宗先生 劉晉萍女士 張永久先生 提名委員會 張月周先生 蒙靜宗先生 劉晉萍女士 聯席公司秘書 宋淼女士 曾若詩女士 授權代表 劉晉萍女士 （主 席） 蒙靜宗先生 張月周先生 張永久先生 獨立核數師 安永會計師事務所 執業會計師 註冊公眾利益實體核數師 香港鰂魚涌英皇道979號太古坊一座27樓 主要往來銀行 中國農業發展銀行 中國工商銀行 中國農業銀行 中國建設銀行 註 冊 辦事處 Clarendon House 2 Church Street Hamilton HM11 Bermuda ...

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8月31日 狀態: 新提交 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 | 本月底法定/註冊股本總額： HKD 500,000,000 FF301 第 1 頁 共 10 頁 v 1.1.1 致：香港交易及 ...

Core Insights - The company reported a revenue of approximately 1.312 billion yuan for the first half of 2025, representing a year-on-year growth of 8.88% [1] - The net profit for the same period was approximately 119 million yuan, showing a year-on-year decrease of 7.85% [1] Financial Performance - Revenue: 1.312 billion yuan, up 8.88% year-on-year [1] - Net Profit: 119 million yuan, down 7.85% year-on-year [1]

Core Insights - The company reported a revenue of approximately 1.312 billion RMB for the first half of 2025, representing a year-on-year increase of 8.88% [1] - Net profit was approximately 119 million RMB, showing a year-on-year decrease of 7.85% [1] - Earnings per share stood at 0.025 RMB [1] Revenue and Sales Performance - The sales volume of raw milk reached 304,729 tons, which is a year-on-year increase of 17.6% [1] - The growth in raw milk sales volume was primarily due to the expansion of the breeding herd and an increase in the average annual milk production per cow [1] - The average selling price of raw milk during the reporting period was 4,305 RMB per ton, down 7.4% from 4,648 RMB per ton in the same period last year [1]