股票代码：600195 股票简称：中牧股份 编号：临 2024-044 中牧实业股份有限公司 关于获得兽药产品批准文号批件的公告 （二）通用名称：猫鼻气管炎、杯状病毒病、泛白细胞减少症三联灭活疫苗 (HBJ06 株+CHZ05 株+PSY01 株) （三）商品名称：喵倍利 （四）批准文号有效期：2024-09-11 至 2026-09-10 二、兽药产品相关其他情况 猫泛白细胞减少症、杯状病毒病和鼻气管炎是猫常见的三种高度传染性疾病， 对猫的健康构成严重危害。猫三联疫苗是公司自主研发产品，采用的疫苗毒株为国 内主要流行毒株，对猫的上述疫病具有很好的免疫保护效果，同时采用全悬浮培养 及浓缩纯化等先进生产工艺，产品安全有效，质量稳定可靠。 三、该兽药产品对公司的影响 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。 近日，中牧实业股份有限公司（以下简称"公司"）自主研发的猫鼻气管炎、 杯状病毒病、泛白细胞减少症三联灭活疫苗(HBJ06 株+CHZ05 株+PSY01 株)（以下简 称"猫三联疫苗"）获得了由农业农村部核发的兽药产品批 ...

股票代码：600195 股票简称：中牧股份 编号：临 2024-042 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。 中牧实业股份有限公司（以下简称"公司"）于 2024 年 8 月 19 日召开第八届董事 会 2024 年第十六次临时会议，审议通过了《关于增加公司经营范围的议案》，具体内容 详见《中牧实业股份有限公司关于增加公司经营范围的公告》（公告编号：临 2024-037）。 近日，公司已完成上述事项的工商变更登记手续，取得北京市丰台区市场监督管理 局换发的《营业执照》，变更后的公司营业执照登记信息如下： 名 称：中牧实业股份有限公司 统一社会信用代码：9111000071092358XT 中牧实业股份有限公司关于增加经营范围 并取得营业执照的公告 成立日期：1998 年 12 月 25 日 经营范围：许可项目：饲料生产；饲料添加剂生产；兽药生产；兽药经营；卫生用 品和一次性使用医疗用品生产；消毒剂生产（不含危险化学品）。(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 ...

Investment Rating - The investment rating for Zhongmu Co., Ltd. (600195) is "Buy" and is maintained [2][4]. Core Views - The company reported a revenue of 2.479 billion yuan for the first half of 2024, a year-on-year decrease of 1.15%, and a net profit attributable to shareholders of 62.8 million yuan, down 76.65% year-on-year. The decline in product prices and a reduction in gross profit margin have put pressure on the company's performance [3][4]. - The revenue from vaccines and veterinary drugs increased, but profits decreased, while trade and feed revenues declined. Specifically, vaccine revenue was 488 million yuan, up 1.72% year-on-year, with a gross margin of 41.57%, down 4.54 percentage points from the previous year. Chemical drug revenue was 635 million yuan, up 8.34% year-on-year, with a gross margin of 18.32%, down 3.14 percentage points. Feed revenue was 434 million yuan, down 8.23% year-on-year, with a gross margin of 21.88%, down 1.66 percentage points. Trade revenue was 912 million yuan, down 4.83% year-on-year, with a gross margin of 2.26% [3][4]. Financial Summary - The company is projected to have earnings per share (EPS) of 0.29 yuan, 0.39 yuan, and 0.51 yuan for the years 2024, 2025, and 2026, respectively. The expected revenue for 2024-2026 is 5.542 billion yuan, 6.172 billion yuan, and 6.881 billion yuan, with growth rates of 2.5%, 11.37%, and 11.49% respectively [4][6]. - The company's net profit attributable to shareholders is expected to be 292 million yuan, 402 million yuan, and 518 million yuan for the years 2024, 2025, and 2026, with growth rates of -27.57%, 37.53%, and 29.05% respectively [4][6]. - The company's price-to-earnings (P/E) ratio is projected to be 21.44, 15.59, and 12.08 for the years 2024, 2025, and 2026, while the price-to-book (P/B) ratio is expected to be 1.08, 1.01, and 0.93 [4][6].

Investment Rating - The investment rating for the company is "Accumulate" (maintained) [1] Core Views - The company reported a revenue decline of 1.15% year-on-year for H1 2024, with a net profit decrease of 76.65% [2] - Despite the revenue decline, the core business showed resilience with a 1.72% increase in biological products revenue and an 8.34% increase in chemical drug revenue in H1 2024 [2] - The company is expected to achieve revenues of 56.72 billion, 61.51 billion, and 67.14 billion yuan for 2024, 2025, and 2026 respectively, with net profits of 3.81 billion, 4.92 billion, and 6.22 billion yuan [3] Financial Performance - For H1 2024, the company achieved a revenue of 2.479 billion yuan and a net profit of 63 million yuan [2] - The gross margin for H1 2024 decreased by 3.14 percentage points to 17.84%, with a net margin of 2.35% [2] - The company’s R&D expenses for H1 2024 were 57 million yuan, representing a 2.3% R&D expense ratio [3] Future Projections - The company is projected to have a PE ratio of 16.4, 12.7, and 10.1 for the years 2024, 2025, and 2026 respectively [3] - The expected revenue growth rates for the upcoming years are 4.92% for 2024, 8.45% for 2025, and 9.14% for 2026 [4] Business Segments - The company’s vaccine sales for pigs showed manageable pressure, with a year-on-year decline of 13.3% for foot-and-mouth disease vaccine and 15.1% for swine fever vaccine in H1 2024 [2] - The chemical drug segment remains competitive, with a net profit increase of 4.1% for the subsidiary Shengli Biological in H1 2024 [2]

Financial Performance - The company's operating revenue for the first half of 2024 was approximately ¥2.48 billion, a decrease of 1.15% compared to ¥2.51 billion in the same period last year[13]. - The net profit attributable to shareholders of the listed company was approximately ¥62.80 million, down 76.65% from ¥268.97 million in the previous year[13]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was approximately ¥58.61 million, a decrease of 71.39% compared to ¥204.84 million in the same period last year[13]. - The net cash flow from operating activities was negative at approximately -¥170.02 million, compared to -¥81.12 million in the previous year[13]. - The basic earnings per share decreased by 76.65% year-on-year, reflecting the significant drop in net profit attributable to shareholders[15]. - The net profit after deducting non-recurring gains and losses decreased by 71.39% year-on-year, primarily due to the impact of declining product prices on gross profit[15]. - The company's operating revenue for the first half of 2024 was ¥2,479,397,851.22, a decrease of 1.15% compared to ¥2,508,298,838.72 in the same period last year[25]. - The company's operating costs increased by 2.77% to ¥2,037,036,289.03 from ¥1,982,139,449.77 year-on-year[25]. - The net profit for the first half of 2024 was ¥58,240,672.74, a significant decrease from ¥248,503,188.50 in the first half of 2023[82]. - The total comprehensive income for the first half of 2024 was CNY 65,476,305.72, significantly lower than CNY 266,531,726.19 in the first half of 2023[83]. Assets and Liabilities - Total assets at the end of the reporting period were approximately ¥9.21 billion, reflecting a 2.92% increase from ¥8.95 billion at the end of the previous year[13]. - The net assets attributable to shareholders at the end of the reporting period were approximately ¥5.59 billion, an increase of 1.30% from ¥5.52 billion at the end of the previous year[13]. - The company's total assets at the end of the first half of 2024 are CNY 5,397,256,430.58, reflecting a stable asset base[91]. - The company's total liabilities at the end of the first half of 2024 are CNY 1,009,505,738.62, indicating a manageable debt level[92]. - The company's total liabilities reached CNY 2,599,389,922.78, compared to CNY 2,405,562,765.96, marking an increase of approximately 8.0%[77]. Cash Flow - The net cash flow from operating activities was -¥170,022,162.98, a significant decline from -¥81,124,512.40 in the same period last year[25]. - The company's cash flow from operating activities was CNY 2,058,326,109.44, down from CNY 2,221,849,776.11 in the first half of 2023, a decrease of 7.3%[86]. - Cash outflow for operating activities totaled 1,748,119,613.48, compared to 889,348,725.55 last year, marking a 97% increase[88]. - The ending balance of cash and cash equivalents was 1,227,942,063.52, compared to 549,977,828.70 at the end of the same period last year, reflecting a 123% increase[89]. Research and Development - Research and development expenses rose by 26.84% to ¥57,152,152.90, compared to ¥45,058,105.71 in the previous year[25]. - The company is focusing on enhancing its R&D capabilities and has set key innovation work points for 2024-2025[25]. - The company invested 6,358,353.22 RMB in internal research and development for non-patented technology during the current period[196]. Market Position and Strategy - The company operates over 20 production bases and has a revenue exceeding 5 billion yuan annually, highlighting its strong market presence in the animal health and nutrition sector[19]. - The company provides products and technical support to nearly 60 countries and regions, with leading market shares in major animal disease vaccines and feed additives[20]. - The sales model includes government procurement and market-based sales, with a focus on expanding the customer base and enhancing brand presence[21]. - The company aims to achieve its "14th Five-Year Plan" goals and accelerate the establishment of a world-class enterprise in 2024[24]. Environmental and Social Responsibility - The company has implemented online monitoring for unorganized gas and total wastewater discharge at its facilities[44]. - The company invested approximately 580,000 yuan in energy-saving and environmental protection initiatives in the first half of 2024[53]. - The company provided 1.1 million yuan in financial assistance for rural revitalization projects in the first half of 2024[54]. - The company has undergone significant management changes, including the resignation of key executives and the election of a new independent director[38]. Related Party Transactions - The company has implemented a structured approach to minimize related party transactions and ensure fair market practices[55]. - The company has committed to avoid any illegal occupation of funds and assets of Zhongmu Co., and to prevent Zhongmu Co. from providing guarantees for illegal activities of the company[56]. - The company plans to continue purchasing raw materials from Zhongmu Co. with an estimated amount of CNY 400 million for 2024, and has reported related party procurement of CNY 3.5638 million during the reporting period[61]. Compliance and Governance - The company has not received any penalties or corrective actions related to violations of laws and regulations during the reporting period[61]. - The company has confirmed that there are no non-operating fund occupations by controlling shareholders or related parties during the reporting period[60]. - The company has not reported any significant changes in its bad debt provisions, maintaining a total of ¥4,556.00 at the end of the period[154]. Inventory and Receivables Management - The total inventory at the end of the period is RMB 991,073,202.81, with a provision for inventory depreciation of RMB 21,162,650.31[178]. - The total accounts receivable at the end of the period amounted to ¥1,327,432,878.41, with a bad debt provision of ¥43,084,650.74, resulting in a provision ratio of 3.25%[160]. - The company has established a cautious approach to bad debt provisioning, particularly for accounts with disputed collectability[159].

北京金诚同达律师事务所 关于 中牧实业股份有限公司 2024 年第四次临时股东大会的 法律意见书 金证法意 2024 字 0828 第 0485 号 中牧实业股份有限公司 2024 年第四次临时股东大会的 法律意见书 金证法意 2024 字 0828 第 0485 号 北京市朝阳区建国门外大街 1 号国贸大厦 A 座 10 层 电话：010-5706 8585 传真：010-8515 0267 北京金诚同达律师事务所 法律意见书 北京金诚同达律师事务所 关于 致：中牧实业股份有限公司 北京金诚同达律师事务所（以下简称"本所"）接受中牧实业股份有限公司（以 下简称"公司"）的委托，指派本所陈跃仙律师、高鹤怡律师（以下简称"本所律 师"）出席公司于 2024 年 8 月 28 日召开的 2024 年第四次临时股东大会（以下简 称"本次股东大会"），对本次股东大会召开的合法性进行见证，并依法出具本法律 意见书。 本法律意见书系依据《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》"）、《上市公司股东大会规则》（以下 简称"《股东大会规则》"）、《上海证券交易所股票上 ...

股票代码：600195 股票简称：中牧股份 编号：临 2024-041 中牧实业股份有限公司 2024 年第四次临时股东大会决议公告 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。 重要内容提示： 本次会议是否有否决议案：无 (一) 非累积投票议案 一、 会议召开和出席情况 | 1、出席会议的股东和代理人人数 | 291 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 542,342,541 | | 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（%） | 53.1110 | (四) 表决方式是否符合《公司法》及《公司章程》的规定，大会主持情况等。 本次会议由公司董事会召集，采用现场投票和网络投票相结合的方式召开。 经半数以上董事共同推举，会议由董事吴冬荀先生主持，公司董事、监事、董事 (一) 股东大会召开的时间：2024 年 8 月 28 日 (二) 股东大会召开的地点：北京市丰台区南四环西路 188 号总部基地 8 区 16 号楼 8 层公司会议室 ( ...

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。 中牧实业股份有限公司关于董事长辞职的公告 中牧实业股份有限公司（以下简称"公司"）董事会于 2024 年 8 月 26 日收到王建 成先生的书面辞职报告，王建成先生因个人退休原因提出辞去公司董事长、董事及董事 会战略委员会召集人职务，辞职后将不再担任公司其他任何职务。 截止本公告日，王建成先生持有公司股票 205,022 股，其辞职后仍将严格遵守《上 市公司董事、监事和高级管理人员所持本公司股份及其变动管理规则》等相关规定。根 据《公司法》《上海证券交易所上市公司自律监管指引第 1 号—规范运作》及《公司章 程》等有关法律法规的规定，董事辞职自辞职报告送达董事会时生效。王建成先生辞去 公司董事职务后，公司不存在因董事辞职而导致公司董事会成员低于法定最低人数的情 况，不影响公司董事会的正常运作。 根据《公司法》《公司章程》《上海证券交易所股票上市规则》等相关规定,公司将尽 快按照法定程序选举新任董事及董事长、调整董事会专门委员会委员等相关工作。 依据《公司章程（2024 年 8 月 ...

中牧实业股份有限公司关于变更法定代表人、注册资本 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。 中牧实业股份有限公司（以下简称"公司"）分别于 2023 年 12 月 20 日、2024 年 2 月 5 日召开第八届董事会 2023 年第十七次临时会议、2024 年第一次临时股东大会，会 议审议通过了《关于修订<公司章程>部分条款的议案》，具体内容详见《中牧实业股份有 限公司第八届董事会 2023 年第十七次临时会议决议公告》（公告编号：临 2023-030）、 《中牧实业股份有限公司关于变更经营范围、注册资本暨修订<公司章程>的公告》（公 告编号：临 2023-031）、《中牧实业股份有限公司 2024 年第一次临时股东大会决议公告》 （公告编号：临 2024-011）。 公司分别于 2024 年 8 月 2 日、2024 年 8 月 19 日召开第八届董事会 2024 年第十四 次临时会议、2024 年第三次临时股东大会，会议审议通过了《关于修订<公司章程>部分 条款的议案》，具体内容详见《中牧实业 ...

中牧实业股份有限公司 章 程 二〇二四年八月修订 | 第一章 | 总则 | 1 | | --- | --- | --- | | 第二章 | | 经营宗旨和范围 2 | | 第三章 | 股 | 份 3 | | 第一节 | | 股份发行 3 | | 第二节 | | 股份增减和回购 3 | | 第三节 | | 股份转让 4 | | 第四章 | | 股东和股东大会 5 | | 第一节 | | 股东 5 | | 第二节 | | 股东大会的一般规定 7 | | 第三节 | | 股东大会的召集 9 | | 第四节 | | 股东大会的提案与通知 11 | | 第五节 | | 股东大会的召开 12 | | 第六节 | | 股东大会的表决和决议 14 | | 第五章 | | 党委 18 | | 第六章 | | 董事会 18 | | 第一节 | | 董事 18 | | 第二节 | | 董事会 21 | | 第七章 | | 总经理及其他高级管理人员 25 | | 第八章 | | 监事会 27 | | 第一节 | | 监事 27 | | 第二节 | | 监事会 28 | | 第九章 | | 财务会计制度、利润分配和审计 29 | | ...