格隆汇9月28日丨中牧股份(600195.SH)公布，为进一步盘活存量闲置资产，优化资产结构，降低管理成 本，实现股东利益最大化，经公司多次协调、沟通，兰州市城关区人民政府同意对中牧股份兰州厂和兰 州中牧所属位于兰州市城关区盐场路2号范围内的国有土地、地上建（构）筑物和设备进行征收。经甘 肃方家房地产资产评估有限公司出具评估报告，涉及土地使用权和房屋建筑物的评估价值为21,810.45万 元，涉及设备的评估价值为1,087.37万元，本次征收涉及的金额共计为22,897.82万元，采用货币方式补 偿。 ...

Group 1 - Company Zhongmu Co., Ltd. (SH 600195) held its 12th temporary board meeting on September 28, 2025, to discuss the proposal regarding the government's expropriation of some idle assets of the company and its wholly-owned subsidiaries [1] - For the fiscal year 2024, Zhongmu's revenue composition is 99.56% from agriculture and 0.44% from other businesses [1] - As of the report date, Zhongmu's market capitalization is 7.2 billion yuan [2]

中牧实业股份有限公司 董事会战略与 ESG 委员会议事规则 （2025 年修订） 第一章 总则 第一条 为明确中牧实业股份有限公司（以下简称"公司"） 董事会战略与ESG 委员会（以下简称"战略与ESG 委员会"或"委 员会"）职责，提高重大投资决策的效益和决策的质量，提升公司 环境（Environmental）、社会（Social）和治理（Governance）（以 下简称"ESG"）的管理水平，规范工作程序，根据《中华人民共 和国公司法》《上市公司治理准则》《上市公司独立董事管理 办法》《上海证券交易所上市公司自律监管指引第 1 号--规 范运作》《中牧实业股份有限公司章程》《董事会议事规则》 等有关规定，制定本规则。 第二条 战略与ESG 委员会是董事会设立的专门工作机 构，向董事会负责并报告工作，在董事会领导下负责对公司 发展规划、重大投资决策和 ESG 战略等进行研究并提出建议。 第三条 战略与ESG 委员会全体人员对公司及全体股东 负有诚信与勤勉尽职义务，应当按照相关法律法规、公司章程 及本议事规则的要求，认真履行职责，维护公司利益，特别 是中小股东的合法权益。战略与ESG 委员会中独立董事应当 ...

股票代码：600195 股票简称：中牧股份 公告编号：临 2025-028 中牧实业股份有限公司 关于政府征收公司及全资子公司部分闲置资产的公告 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。 重要内容提示： 兰州市城关区人民政府决定对中牧实业股份有限公司（以下简称"公 司"）的分支机构中牧实业股份有限公司兰州生物药厂（以下简称"中牧股份兰 州厂"）和公司全资子公司兰州中牧药械科技有限公司（以下简称"兰州中牧"） 所属位于兰州市城关区盐场路 2 号范围内国有土地、地上建（构）筑物和设备实 施征收，由兰州市城关区住房和城乡建设局组织实施，并委托兰州市城关区人民 政府盐场路街道办事处具体实施补偿安置工作，负责与公司签订征收补偿协议。 上述资产为中牧股份兰州厂和兰州中牧原厂区的土地、房产和生产设备，资产均 属于闲置状态。经甘肃方家房地产资产评估有限公司对以上资产进行评估，本次 征收的土地、地上建（构）筑物和设备涉及金额为 22,897.82 万元。 本次交易不构成关联交易和重大资产重组。 本事项已经公司第九届董事会 2025 年第十 ...

股票代码：600195 股票简称：中牧股份 编号：临 2025-027 中牧实业股份有限公司 第九届董事会 2025 年第十二次临时会议决议公告 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。 中牧实业股份有限公司（以下简称"公司"或"中牧股份"）第九届董事会 2025 年第十二 次临时会议通知于 2025 年 9 月 28 日以电话、口头等通讯方式送达，全体董事一致同意豁免本 次会议的通知期限，会议于 2025 年 9 月 28 日在北京市丰台区总部基地八区 16 号楼 801 会议 室以现场结合视频的方式召开。会议应到董事 7 名，实到董事 7 名。会议由董事长吴冬荀先生 主持，符合《公司法》《公司章程》的规定。 三、关于修订《中牧实业股份有限公司全面预算管理办法》的议案 表决结果：7 票同意，0 票反对，0 票弃权。 经与会董事审议，会议表决通过如下议案： 一、关于政府征收公司及全资子公司部分闲置资产的议案 表决结果：7 票同意，0 票反对，0 票弃权。 为进一步盘活存量闲置资产，优化资产结构，降低管理成本，同意将公司分 ...

Core Viewpoint - The company, Zhongmu Co., Ltd. (600195.SH), is taking steps to optimize its asset structure and reduce management costs by coordinating with the Lanzhou government to have its idle assets expropriated, aiming to maximize shareholder value [1] Group 1: Asset Expropriation - The Lanzhou government has agreed to expropriate the land, buildings, and equipment of Zhongmu Co., Ltd. located at No. 2, Yanchang Road, Chengguan District, Lanzhou [1] - The total assessed value of the land use rights and buildings is approximately 218.10 million yuan, while the assessed value of the equipment is about 10.87 million yuan, leading to a total compensation amount of 228.98 million yuan [1]

Investment Rating - The industry rating is "Recommended" [3] Core Insights - The report highlights the ongoing decline in pork prices, with the average price of live pigs at 12.64 CNY/kg, down 3.05% week-on-week, indicating a supply surplus in the market. However, upcoming festivals are expected to boost consumption and potentially stabilize prices [2][13] - The report emphasizes the importance of improving grain yield through advanced agricultural practices and technology, particularly in the context of food security and the promotion of genetically modified crops [1][12] Summary by Sections Planting Industry Chain - The Ministry of Agriculture and Rural Affairs is focusing on enhancing grain yields through a comprehensive approach tailored to specific crops and regions. This includes promoting high-performance agricultural machinery and addressing storage issues in different regions [1][12] - Companies like Beidahuang and Suqian Agricultural Development are expected to benefit from these initiatives, along with seed companies such as Dabeinong and Longping High-Tech [1][12] Swine Farming - The current average price of live pigs is 12.64 CNY/kg, reflecting a significant decrease due to oversupply. A meeting was held to discuss reducing the breeding sow population by approximately 1 million to stabilize prices [2][13] - The report suggests that the swine industry will focus on quality improvement and efficiency, with a gradual elimination of outdated production capacity. Companies like Muyuan Foods and Wen's Foodstuffs are highlighted as key players to watch [2][5][13] Key Agricultural Product Data Tracking - Corn: The average price is 2360.47 CNY/ton, down 0.10% week-on-week [26] - Wheat: The average price is 2434.39 CNY/ton, up 0.23% week-on-week [29] - Soybeans: The average price is 4050.42 CNY/ton, up 0.17% week-on-week [38] - Cotton: The average price is 15090.00 CNY/ton, down 0.89% week-on-week [46] Feed and Vitamin Prices - The average price of pig feed is 2.68 CNY/kg, with no change week-on-week. Vitamin E prices have decreased by 7.84% to 51.70 CNY/kg [52][63]

Core Viewpoint - The animal health sector experienced a rise of 1.59% on September 26, with Bio-Pharmaceuticals leading the gains, while the overall market indices, Shanghai Composite and Shenzhen Component, saw declines of 0.65% and 1.76% respectively [1] Group 1: Market Performance - The animal health sector's individual stock performance showed significant variations, with Bio-Pharmaceuticals closing at 9.34, up by 7.23%, and a trading volume of 1.0367 million shares, resulting in a turnover of 973 million yuan [1] - Other notable performers included Huisheng Biological at 20.68, up by 1.87%, and Ruipu Biological at 20.93, up by 1.60% [1] Group 2: Capital Flow - The animal health sector saw a net inflow of 86.5157 million yuan from institutional investors, while retail investors experienced a net outflow of 44.7995 million yuan [2] - The capital flow data indicates that major stocks like Bio-Pharmaceuticals had a net inflow of 12.63% from institutional investors, despite a significant outflow from retail and speculative investors [3]

Market Overview - On September 25, the animal health sector declined by 1.62% compared to the previous trading day, with the leading stock, Driveline, experiencing a drop of 4.04% [1] - The Shanghai Composite Index closed at 3853.3, down 0.01%, while the Shenzhen Component Index closed at 13445.9, up 0.67% [1] Stock Performance - The following stocks in the animal health sector showed notable declines: - Driveline (Code: 838275) closed at 9.50, down 4.04% with a trading volume of 19,300 lots [1] - Shunlian Bio (Code: 688098) closed at 10.43, down 3.43% with a trading volume of 76,300 lots [1] - Yongshun Bio (Code: 839729) closed at 9.74, down 2.89% with a trading volume of 20,800 lots [1] - Other notable declines include *ST Green Health (Code: 002868) down 2.39% and Shoufeng Holdings (Code: 002141) down 2.33% [1] Capital Flow - The animal health sector saw a net outflow of 113 million yuan from institutional investors, while retail investors experienced a net inflow of 61.16 million yuan [1] - The following stocks had significant capital flow: - Zhongmu Co. (Code: 600195) had a net inflow of 986,800 yuan from institutional investors [2] - Pulaike (Code: 603566) saw a net inflow of 764,200 yuan from retail investors [2] - *ST Green Health (Code: 002868) experienced a net outflow of 6.71 million yuan from institutional investors [2]

Core Insights - The report indicates a narrowing profitability in pig farming while the pet food sector continues to grow [1][5] - The investment rating is maintained as "positive" for the sector [1] Pig Farming - Supply pressure has led to a decline in pig prices, with the average price in July-August 2025 at 14.63 CNY/kg, down from 14.96 CNY/kg in Q2 2025 [5] - The average profitability for self-breeding and purchased piglets in the industry has shifted to losses, with figures of 53.0 CNY/head for self-breeding and -106.7 CNY/head for purchased piglets as of September 19 [5] - The outflow of pigs from listed companies has shown a growth rate of 26.2% in Q2 2025 and 20.0% in July-August 2025 [5] - The report suggests that the ongoing policy guidance for capacity adjustment and weight reduction will likely elevate the price center of pigs in the future [5] - Recommended companies for investment include Muyuan Foods, Wens Foodstuff, Dekang Agriculture, Juxing Agriculture, Shennong Group, Tiankang Biological, and Tangrenshen [5] Animal Health - Demand for animal health products is on the rise, with significant year-on-year growth in various vaccines, such as a 30% increase for swine fever vaccines in July-August 2025 [5] - Companies like Keqian Biological and Ruipu Biological are highlighted for their strong internal growth potential due to new product launches [5] Poultry Farming - The price of white feather chickens has rebounded due to seasonal demand and tighter supply, with an average price of 6.92 CNY/kg as of September 19, 2025 [5] - The report notes a 17.66% year-on-year decrease in the number of breeding chickens updated in the first eight months of 2025, indicating potential long-term benefits for the white feather chicken industry [5] - Recommended companies include Shennong Development and Yisheng Livestock [5] Pet Food Sector - Domestic sales of pet food are driven by consumption upgrades and domestic substitution, with a reported growth rate of 11% across major e-commerce platforms from January to August 2025 [5] - The report highlights the introduction of new products and the strengthening of brand power among leading companies [5] - Recommended companies in the pet food sector include Guibao Pet, Zhongchong Co., Petty Co., and Lusi Co. [5]