Group 1: Swine Industry - The average selling price of external three-yuan pigs in China on September 14 was 13.27 yuan/kg, a week-on-week decrease of 2.5% [1] - The average selling price of weaned piglets was 294 yuan/head, down 29 yuan/head week-on-week, marking a new low for the year [1] - The average selling price of two-yuan sows was 1595 yuan/head, down 1 yuan/head week-on-week, also a new low for the year [1] - The weak prices of piglets and sows reflect the industry's pessimistic expectations for pig prices in 2026 [1] - The expectation of upgraded capacity regulation in the industry is gaining traction, emphasizing the importance of the "anti-involution" process [2] - The industry is expected to enter a phase of stable and high-quality development, with improved profitability for leading pig companies [2] Group 2: Poultry Industry - The average selling price of white feather broiler chicks was 3.26 yuan/chick, down 1.21% week-on-week [3] - The average selling price of white feather broiler meat was 3.45 yuan/kg, down 1.15% week-on-week [3] - The average selling price of chicken meat cuts was 8687.95 yuan/ton, down 0.09% week-on-week [3] - The seasonal rebound in July-August has ended, with continued ample supply of white chickens expected to be a theme for 2025 [3] - The average selling price of Qingjiao Ma chicken was 5.75 yuan, down 0.3% week-on-week, maintaining a high level for the year [3] - The industry turned profitable in August, with further profit increases expected in September, suggesting a focus on companies' third-quarter performance [3] Group 3: Pet Food Industry - The total sales of pet food on platforms like Tmall, JD, and Douyin in August reached 2.34 billion yuan, a year-on-year increase of 8% and a month-on-month increase of 19% [4] - Cumulative sales from January to August 2025 reached 19.21 billion yuan, a year-on-year increase of 11% [4] - Leading domestic brands showed significant growth, with Blue's, Honest Bite, and Fresh Lang increasing by 42%, 33%, and 27% year-on-year, respectively [4] - Overseas leading brands also saw growth, with Pro Plan, Royal Canin, and Orijen increasing by 45%, 28%, and 17% year-on-year, respectively [4]

DEKON FOOD AND AGRICULTURE GROUP 四川德康農牧食品集團股份有限公司 （於中華人民共和國註冊成立的股份有限公司） （股份代碼：2419） 股東特別大會的代表委任表格（H股股東適用） 與本代表委任表格有關的 H股股份數目 （附註1） 本人╱吾等 （附註2） （附註3） 持有人，茲委任大會主席或 （附註4） 地址為 為本人╱吾等的代表，代表本人╱吾等出席本公司於2025年9月29日（星期一）上午十時正假座中國四川省成都市雙流 區臨港路32號成都東航中心2號樓11層10號會議室舉行的股特別大會（「股東特別大會」）或其任何續會，並於會上代表 本人╱吾等依照下列指示投票，如無該等指示，則由本人╱吾等的代表酌情投票。 | | 普通決議案 | （附註5） 同意 | （附註5） 反對 | （附註5） 棄權 | | --- | --- | --- | --- | --- | | 1. | 審議及批准採納本公司與特驅農牧於2025年8月15日訂 立的特驅飼料供應框架補充協議項下的年度上限；及謹 | | | | | | 此授權本公司任何一名董事作出及採取彼可能認為就使 | | | | | | 特驅飼料 ...

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通告的內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示概不就因本通告全部或任何部 分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。 DEKON FOOD AND AGRICULTURE GROUP 四川德康農牧食品集團股份有限公司 （於中華人民共和國註冊成立的股份有限公司） 股東特別大會通告 茲通告四川德康農牧食品集團股份有限公司（「本公司」）將於2025年9月29日（星期 一）上午十時正假座中國四川省成都市雙流區臨港路32號成都東航中心2號樓11層10 號會議室舉行股東特別大會（「股東特別大會」），以審議及酌情批准以下決議案。除 另有所指者外，本通告所用詞彙與本公司刊發日期為2025年9月9日的通函（「通函」） 所定義者具有相同涵義。 作為普通決議案 1. 審議及批准採納本公司與特驅農牧於2025年8月15日訂立的特驅飼料供應框架 補充協議項下的年度上限；及謹此授權本公司任何一名董事作出及採取彼可能 認為就使特驅飼料供應框架補充協議生效及執行而言屬必要或適宜的一切有關 事宜及一切有關行動，並作出彼可能認為屬必要、適宜或權宜的有關變動 ...

此 乃 要 件 請 即 處 理 閣下如對本通函任何方面或應採取的行動有任何疑問，應諮詢股票經紀或其他持牌證券交易商、銀行經理、律 師、專業會計師或其他專業顧問。 閣下如已將名下全部四川德康農牧食品集團股份有限公司股份售出或轉讓，應立即將本通函連同隨附代表委任 表格轉交買主或承讓人，或經手買賣或轉讓的銀行、股票經紀或其他代理商，以便轉交買主或承讓人。 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通函的內容概不負責，對其準確性或完整性亦不發 表任何聲明，並明確表示，概不就因本通函全部或任何部分內容而產生或因依賴該等內容而引致的任何損失承 擔任何責任。 DEKON FOOD AND AGRICULTURE GROUP 四川德康農牧食品集團股份有限公司 （於中華人民共和國註冊成立的股份有限公司） （股份代碼：2419） (1)修訂持續關連交易 (2)建議修訂章程 (3)建議修訂董事會會議議事規則 (4)建議修訂股東大會議事規則 及 (5)股東特別大會通告 獨立董事委員會及獨立股東的獨立財務顧問 本公司將於2025年9月29日（星期一）上午十時正假座中國四川省成都市雙流區臨港路32號成都東航中心2號樓11 層1 ...

Core Insights - Dekang Agriculture and Animal Husbandry (02419) reported sales of 813,100 pigs in August 2025, generating revenue of RMB 1.432 billion [1] - The average selling price of commercial pigs in August 2025 was RMB 13.74 per kilogram, a decrease of 3.31% compared to July 2025 [1] - For the first eight months ending August 31, 2025, the company sold a total of 6.711 million pigs, with revenue amounting to RMB 12.882 billion [1] - In August 2025, the company sold 8.3701 million yellow-feathered broilers, resulting in revenue of RMB 254 million [1] - The average selling price of yellow-feathered broilers in August 2025 was RMB 13.11 per kilogram, an increase of 8.89% from July 2025 [1] - For the first eight months ending August 31, 2025, the company sold 58.456 million yellow-feathered broilers, generating revenue of RMB 1.76 billion [1]

Core Insights - Dekang Agriculture (02419.HK) reported sales of 813.06 thousand pigs in August 2025, with a revenue of RMB 1,432.31 million [1] - The average selling price of commercial pigs in August 2025 was RMB 13.74 per kilogram, reflecting a decrease of 3.31% compared to July 2025 [1] - For the eight months ending August 31, 2025, the company sold a total of 6,710.60 thousand pigs, generating a revenue of RMB 12,881.58 million [1] Sales Performance - In August 2025, the company sold 784.26 thousand commercial pigs, contributing to the overall sales figure [1] - The total sales volume for the first eight months included 6,370.43 thousand commercial pigs [1] Revenue Analysis - The revenue for August 2025 was RMB 1,432.31 million, indicating the financial performance of the company during that month [1] - Cumulative revenue for the eight-month period reached RMB 12,881.58 million, showcasing the company's overall sales strength [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，並明確表示概不就因本公告全部或任何部 分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。 DEKON FOOD AND AGRICULTURE GROUP 四川德康農牧食品集團股份有限公司 （於中華人民共和國註冊成立的股份有限公司） （股份代碼：2419） 自願公告 2025年8月運營快報 本公告乃四川德康農牧食品集團股份有限公司（「本公司」，連同其附屬公司，「本集 團」）作出的自願公告。 本公司董事會（「董事會」）謹此宣佈，本集團2025年8月的主要運營數據（未經審核） 如下： 生豬板塊 | | 生豬銷量 | | 銷售收入 | | 商品肉豬平均售價 | | --- | --- | --- | --- | --- | --- | | | （千頭） | | （人民幣百萬元） | | （人民幣元╱公斤） | | | 本期間數量 | 本年累計數量 | 本期間數量 | 本年累計數量 | | | 2024年7月 | 700.90 | 4,727.04 | 1,622.78 | 9,397.33 | 18 ...

Summary of Dekang Agriculture and Animal Husbandry Conference Call Company Overview - **Company**: Dekang Agriculture and Animal Husbandry - **Industry**: Pig Farming Key Points and Arguments Business Model and Strategy - Dekang has established a low-investment, high-turnover, and high-return farming system by transforming industry challenges into advantages, achieving a pig farming profit of approximately 403 RMB per head in 2024, with ROE and ROIC at 38% and 29% respectively, significantly outperforming peers [2][3] - The company has adopted a "No. 2 Farm" model, which is a light-asset, low-cost, and high-efficiency cooperative farming approach that reduces capital expenditure and enhances production efficiency [2][12] Financial Performance - In 2024, Dekang's total breeding cost is projected to be 13.6 RMB per kilogram, with a slaughter volume increasing from 1.37 million heads in 2020 to 8.78 million heads in 2024, reflecting a compound annual growth rate of 44%, far exceeding the industry average of 0.2% [2][5] - The company has maintained a research and development expense ratio of approximately 1.2% from 2018 to 2024, indicating a strong commitment to breeding innovation [4][10] Breeding and Technology - Since 2013, Dekang has built a core breeding group, introducing advanced breeding technologies and equipment, resulting in a breeding capacity that supports over 30 million piglets [2][6] - The company has achieved significant improvements in breeding efficiency, with a notable reduction in feed-to-meat ratios and earlier market readiness for pigs, enhancing profitability [10] Talent Management and Incentives - Dekang emphasizes talent incentives, with an average salary of 149,000 RMB per employee in 2024, higher than the industry average of 123,000 RMB, and an executive average salary of 810,000 RMB, also above the industry average [7] Future Development Directions - The company plans to continue promoting its light-asset model and enhance its epidemic prevention systems while advancing AI precision farming technologies [8] - Dekang aims to maintain its leading position in biotechnology through ongoing investments in breeding research and development [9] Market Position and Competitive Advantages - Dekang has been recognized for its effective epidemic prevention measures, being designated as a "disease-free zone" by the Ministry of Agriculture in multiple locations since 2021, which supports stable growth [13][14] - The company’s innovative farming model and strong financial performance position it well for future growth, making it a focal point for investors [14] Additional Important Insights - The "No. 2 Farm" model allows for a more efficient production process, with a focus on training and strict entry requirements for farm operators to ensure high-quality output [12] - Dekang's strategic focus on the southwestern region of China, where 7 out of 10 core pig farms are located, has contributed to its competitive edge in the market [5]

Group 1 - The event "Big Consumption Investment Summit and 2025 Zhitong Xingyao Autumn Joint Strategy Meeting" was held in Hangzhou, focusing on the theme "New Consumption Species: The Evolution of Hong Kong Stocks" [1] - In 2025, China's consumption market is witnessing a blend of tradition and innovation, with electric vehicle penetration exceeding 47%, smart home sales growing in double digits, and rural consumption growth outpacing urban by 0.8 percentage points [1] - The Hong Kong stock market is becoming a witness to consumer power, with a 100-fold subscription for consumer IPOs in the first half of the year and 71% of new stocks closing higher on their first day [1] Group 2 - The main venue will feature keynote speeches and roundtable discussions on trends, while the sub-venue will showcase opportunities from 30 top companies [2] - Keynote speakers include executives from Tencent, GF Securities, and various leading companies, sharing insights and practical experiences [4] - The sub-venue will host presentations from 30 leading companies, including China Duty Free Group, Maogeping, and others, focusing on their business opportunities [5]

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 致：香港交易及結算所有限公司 公司名稱: 四川德康農牧食品集團股份有限公司 (於中華人民共和國註冊成立的股份有限公司) 呈交日期: 2025年9月3日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | H | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 02419 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 157,588,454 | RMB | | 1 RMB | | 157,588,454 | | 增加 / 減少 (-) | | | | | | RMB | | | | 本月底結存 | | | 157,588,454 | RMB | | 1 RMB | | 157,588,454 | | 2. 股份分類 ...