Investment Overview - The company held its 23rd meeting of the 9th Board of Directors on December 18, 2025, where it approved the proposal to establish a wholly-owned subsidiary [1] Business Registration Details - The newly established wholly-owned subsidiary, named Baotou Henglu Biotechnology Co., Ltd., has completed its business registration and obtained a business license [1] - The company type is a limited liability company (wholly owned by a legal entity) [1] - The legal representative is Liu Fu'an [1] - The registered capital is 10 million RMB [1] - The establishment date of the subsidiary is December 31, 2025 [1] - The address of the subsidiary is located in Baotou City, Inner Mongolia, specifically at the Education Building of the Sugar Factory in Dongxing Street, Donghe District [1] Business Scope - The subsidiary's business scope includes: - Licensed projects: Food production, health food production, and special medical purpose formula food production [1] - General projects: Sales of special medical purpose formula food, health care services (non-medical), sales of pre-packaged health food, sales of pre-packaged food, technical services, technology development, consulting, and transfer [1] - Import and export of goods, including food and cosmetics [1] - Internet sales (excluding items requiring licenses) [1] - Research and experimental development in engineering and technology [1]

Core Viewpoint - The stock of Huazi Industrial has experienced a decline of 2.01% on January 6, 2023, with a current price of 12.65 CNY per share and a total market capitalization of 6.134 billion CNY [1] Group 1: Stock Performance - As of January 6, 2023, Huazi Industrial's stock has decreased by 1.56% year-to-date and by 5.10% over the last five trading days, while it has increased by 1.61% over the last 20 days and by 61.56% over the last 60 days [1] - The trading volume on January 6, 2023, was 100 million CNY, with a turnover rate of 1.62% [1] Group 2: Financial Performance - For the period from January to September 2025, Huazi Industrial reported a revenue of 415 million CNY, reflecting a year-on-year growth of 0.27%, and a net profit attributable to shareholders of 57.27 million CNY, which is a 31.94% increase year-on-year [2] - The company has distributed a total of 158 million CNY in dividends since its A-share listing, with no dividends paid in the last three years [3] Group 3: Company Overview - Huazi Industrial, established on November 30, 1998, and listed on December 10, 1998, is located in Baotou City, Inner Mongolia, and primarily engages in the processing and trading of sugar, flour, and grain [1] - The main business revenue composition includes 86.17% from grain deep processing products, 13.12% from sugar products, and 0.72% from leasing and other activities [1] - The company is classified under the agricultural industry, specifically in the sub-sector of agricultural product processing [1]

证券代码：600191 证券简称：华资实业 编号：临 2026-001 包头华资实业股份有限公司 关于新设全资子公司完成工商登记 并取得《营业执照》的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、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法律责任。 一、投资概述 包头华资实业股份有限公司（以下简称"公司"）于 2025 年 12 月 18 日召开 第九届董事会第二十三次会议，审议通过了《关于公司对外投资成立子公司的议案》， 具体内容详见公司于 2025 年 12 月 19 日在上海证券交易所网站披露的《华资实业 对外投资成立全资子公司的公告》（公告编号：临 2025-068）。 统一社会信用代码：91150202MAK4K53RX5 类型：有限责任公司（非自然人投资或控股的法人独资） 法定代表人：刘福安 经营范围：许可项目：食品生产；保健食品生产；特殊医学用途配方食 品生产。（依法须经批准的项目，经相关部门批准后方可开展经营活动，具 体经营项目以相关部门批准文件或许可证件为准）一般项目：特殊医学用途 配方食品销售；养生保健服务（非医疗）；保健食品（预包装）销售；食品 销售 ...

Group 1 - The company announced the approval of several resolutions at its fourth extraordinary general meeting of shareholders in 2025, including the proposal for asset sales and related party transactions [2] - The resolutions also included the expected daily related party transactions for the year 2026 [2]

国浩律师（上海）事务所 关 于 包头华资实业股份有限公司 2025 年第四次临时股东会 二零二五年十二月 国浩律师（上海）事务所 关于包头华资实业股份有限公司 2025 年第四次临时股东会之法律意见书 致：包头华资实业股份有限公司 受包头华资实业股份有限公司（以下简称"公司"）委托，国浩律师（上海） 事务所（以下简称"本所"）指派律师出席了公司于 2025 年 12 月 30 日召开的 2025 年第四次临时股东会，并根据《中华人民共和国公司法》（以下简称"《公 司法》"）、《中华人民共和国证券法》（以下简称"《证券法》"）等法律、 法规及中国证券监督管理委员会（以下简称"中国证监会"）、《上市公司股东 会规则》和《包头华资实业股份有限公司章程》（以下简称"《公司章程》"）， 就本次股东会的召集、召开程序、出席大会人员资格、会议表决程序等事宜发表 法律意见。 为出具本法律意见书，本所律师对本次股东会进行见证，并审查了公司提供 的有关本次股东会各项议程及相关文件，听取了公司董事会就有关事项所作的说 明。 之 法律意见书 上海市静安区山西北路 99 号苏河湾中心 MT 25-28 层 邮编：200085 25-2 ...

证券代码：600191 证券简称：华资实业 公告编号：2025-070 包头华资实业股份有限公司 2025年第四次临时股东会决议公告 一、 会议召开和出席情况 | 1、出席会议的股东和代理人人数 | 121 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 261,373,794 | | 3、出席会议的股东所持有表决权股份数占公司有表决权股 | | | 份总数的比例（%） | 53.8990 | (四) 表决方式是否符合《公司法》及《公司章程》的规定，会议主持情况等。 本次股东会由董事会召集，董事长张志军先生主持，会议的召集、召开和表 决均符合《公司法》及《公司章程》的规定。 (一) 股东会召开的时间：2025 年 12 月 30 日 (二) 股东会召开的地点：子公司山东裕维生物科技有限公司二楼会议室 (三) 出席会议的普通股股东和恢复表决权的优先股股东及其持有股份情况： (五) 公司董事和董事会秘书的列席情况 1、公司在任董事8人，列席8人； 2、董事会秘书信衍彪先生出席了本次会议；公司总经理刘福安先生、财务总监 滕明尚先生、副总经理胡忠林先生列席了本次会议。 本公司董 ...

资料显示，包头华资实业股份有限公司位于内蒙古自治区包头市东河区铝业大道40号，成立日期1998年 11月30日，上市日期1998年12月10日，公司主营业务涉及食糖、面粉委托加工生产销售及粮食贸易。主 营业务收入构成为：粮食深加工产品86.17%，制糖产品13.12%，租赁及其他0.72%。 华资实业所属申万行业为：农林牧渔-农产品加工-其他农产品加工。所属概念板块包括：小盘、调味 品、券商相关等。 截至9月30日，华资实业股东户数1.95万，较上期减少3.00%；人均流通股24873股，较上期增加3.10%。 2025年1月-9月，华资实业实现营业收入4.15亿元，同比增长0.27%；归母净利润5726.89万元，同比增长 31.94%。 12月30日，华资实业盘中下跌2.01%，截至13:04，报12.65元/股，成交8471.08万元，换手率1.36%，总 市值61.34亿元。 资金流向方面，主力资金净流出549.80万元，特大单买入246.44万元，占比2.91%，卖出1070.27万元， 占比12.63%；大单买入1911.98万元，占比22.57%，卖出1637.95万元，占比19.34%。 华资 ...

Core Viewpoint - The "2025 Securities Market Annual Conference" emphasized the importance of reform and innovation in the capital market, highlighting the role of technology in reshaping industry dynamics and driving high-quality development [1] Group 1: Technology Innovation - Technology innovation is now a "mandatory course" for companies, essential for survival and long-term development [2] - Dazhi Technology has shifted focus to the internet sector, enhancing data center operations through hardware, software, and ecological innovations, achieving a 40% reduction in labor costs and a 70% decrease in failure rates [2] - Ice Wheel Environment has established a research institute to focus on original innovations in temperature and pressure control, achieving breakthroughs in energy utilization aligned with carbon neutrality goals [3] - Huazi Industrial has transitioned from traditional to biotechnology, successfully launching projects in resistant dextrin and functional foods, and aims to build a deep processing platform for grains [3] Group 2: Ecological Collaboration - Companies are increasingly recognizing the need for collaborative ecosystems within the industry chain, moving away from isolated innovation [4] - Dazhi Technology integrates various computing resources to support sectors like telemedicine and autonomous driving, emphasizing the importance of an "AI+" ecosystem [4] - Saima Technology focuses on the automotive industry, leveraging AI to enhance its role in the automotive ecosystem, serving a wide range of clients from manufacturers to emerging enterprises [5] Group 3: AI Empowerment - Ice Wheel Environment is advancing its operations through an AI-driven digital platform, which is expected to redefine production relationships and value creation [7] - AI is seen as a catalyst for shortening product cycles and enhancing human creativity, leading to structural changes in investment markets [7] - Dazhi Technology plans to expand into Southeast Asian markets, aiming to leverage digital economic growth and validate its business model through international operations [8] - Huazi Industrial is also pursuing international expansion, utilizing AI to build platforms for raw materials, processing, and marketing, aligning with global consumer health trends [8]

Core Viewpoint - The article emphasizes the transformation of traditional industries, particularly the grain processing sector, through technological innovation and strategic upgrades, with Huazi Industrial as a leading example of this change [1][2]. Group 1: Company Transformation - Huazi Industrial has successfully transitioned from a traditional grain enterprise to a high-tech biological industry company through three key breakthroughs [1]. - The company has established research and development centers and a multi-layered innovation system to support its transformation [2]. - Huazi Industrial's subsidiary, Yuwei Biological, has implemented technical upgrades to production lines, achieving a product yield and purity of 90% using advanced technology [2]. Group 2: Core Technology and Competitive Advantage - The company has focused on mastering core production technologies, particularly in the xanthan gum industry, by acquiring patented technology from the Shandong Food Fermentation Industrial Research and Design Institute [3]. - This technology has led to significant improvements in production efficiency, product purity, and reductions in energy consumption and raw material usage, enhancing the company's competitive edge [3]. Group 3: Industry Insights and Strategic Positioning - The grain processing industry is undergoing profound changes driven by new technologies like artificial intelligence, leading to a structural shift in investment logic [4]. - Huazi Industrial has strategically positioned itself to develop high-value products such as functional foods and plant-based proteins, focusing on key areas like biotechnology and fermentation engineering [4][5]. - The investment logic in the grain processing sector has shifted from traditional resource-driven models to technology and policy-driven approaches, emphasizing deep processing and high-value utilization of by-products [5].

Core Insights - Zhongyu Food Holdings is enhancing Huazi Industrial through comprehensive empowerment and upgrades, focusing on improving operational efficiency and profitability in existing businesses like gluten powder and alcohol [1][3] - The integration of both companies' assets aims to optimize product structure and reduce raw material costs, leveraging Zhongyu's procurement advantages in the wheat sector [1][2] Business Strategy - Huazi Industrial is undergoing a strategic transformation through two rounds of equity optimization, with Zhongyu Technology indirectly taking control, leading to a more efficient management structure [2] - Zhongyu's revenue and net profit for 2024 are projected to be 13.083 billion and 1.003 billion respectively, with a return on equity (ROE) of 17.60%, significantly outperforming typical agricultural companies [2] New Business Development - Zhongyu is focusing on high-value products such as xanthan gum and resistant dextrin, utilizing its channels and customer resources to penetrate high-margin downstream markets [1][3] - Huazi's subsidiary, Henglu Bio, is entering the health and functional consumer goods sectors, creating synergies with Zhongyu in health food development [1][3] Financial Projections - Revenue from xanthan gum and resistant dextrin is expected to grow significantly, with projections of 0.65 billion, 4.2 billion, and 7.2 billion for the years 2025 to 2027, indicating a total revenue growth rate of 17.1%, 62.5%, and 31.8% respectively [5]