Meeting Details - The shareholders' meeting of Liaoning Chengda Biological Co., Ltd. was held on August 28, 2025, in Shenyang, Liaoning Province [1] - A total of 223 ordinary shareholders attended the meeting, holding 240,348,641 voting rights, which accounts for 57.71% of the company's total voting rights [1] Voting Results - All proposed resolutions were passed with significant support from shareholders. For instance, the resolution regarding the election of Xu Biao as a non-independent director received 99.38% approval from ordinary shareholders [2] - The voting results for other resolutions also showed strong support, with percentages ranging from 98.63% to 99.38% in favor [2][2] Legal Compliance - The meeting was convened and conducted in accordance with the relevant laws and regulations, as confirmed by the attending lawyers [2][3]

Group 1 - The core viewpoint of the report indicates a decline in key financial metrics for the first half of 2025 compared to the same period in the previous year, highlighting challenges faced by the company [1][2] - Total assets at the end of the reporting period were approximately 9.79 billion RMB, a decrease of 2.64% from the previous year-end [1] - Operating revenue for the period was approximately 706.78 million RMB, reflecting a significant decline of 19.75% compared to 880.69 million RMB in the same period last year [1] - Total profit for the period was approximately 145.96 million RMB, down 46.37% from 272.15 million RMB in the previous year [1] - The net profit attributable to shareholders was reported at approximately 0.30 RMB per share, a decrease of 43.40% from the previous year [2] Group 2 - The company reported a weighted average return on net assets of 1.28%, down from 2.29%, indicating a decrease of 1.01 percentage points [1] - The number of shareholders at the end of the reporting period was 25,344 [2] - The actual controller of the company changed from the Liaoning Provincial State-owned Assets Supervision and Administration Commission to no actual controller as of February 28, 2025 [5]

Group 1 - The board of directors of Liaoning Chengda Biological Co., Ltd. held its 22nd meeting of the 5th session on August 28, 2025, with all 9 directors present, and the meeting was deemed legally valid [1][2]. - The board unanimously approved the proposal regarding the company's 2025 semi-annual report and its summary, with 100% of the votes in favor [1][2]. - The board also approved the special report on the storage and actual use of raised funds for the first half of 2025, confirming compliance with relevant laws and regulations, and ensuring no misuse of funds [2][3]. Group 2 - The board approved the semi-annual evaluation report of the 2025 quality improvement and efficiency enhancement action plan, with all votes in favor [2][3].

Market Overview - The animal health sector experienced a decline of 0.5% on August 29, with *ST Lvkang leading the drop [1] - The Shanghai Composite Index closed at 3857.93, up 0.37%, while the Shenzhen Component Index closed at 12696.15, up 0.99% [1] Individual Stock Performance - The top performer in the animal health sector was Qudongli (code: 838275), with a closing price of 11.87 and an increase of 7.23% [1] - Other notable gainers included Yongshun Biological (code: 839729) with a 1.34% increase and Ruipu Biological (code: 300119) with a 0.81% increase [1] - Conversely, *ST Lvkang (code: 002868) saw a significant decline of 3.24%, closing at 26.32 [2] Trading Volume and Capital Flow - The total net outflow of main funds in the animal health sector was 53.36 million yuan, while retail funds saw a net inflow of 29.48 million yuan [2] - The trading volume for Qudongli was 92,700 hands, with a transaction amount of 108 million yuan [1] Fund Flow Analysis - *ST Lvkang experienced a net outflow of 11.85 million yuan from main funds, representing a 24.27% net share [3] - In contrast, retail funds for *ST Lvkang saw a net inflow of 7.44 million yuan, accounting for 15.25% of its total [3] - Other companies like Shenglian Biological and Zhongmu Co. also faced net outflows from main funds, indicating a trend of capital withdrawal in the sector [3]

Group 1 - The company will not distribute cash dividends, issue bonus shares, or increase capital from reserves during the reporting period [2] - The company has not experienced any changes in its controlling shareholder or actual controller during the reporting period [3] - The company plans to repurchase its A-shares using its own funds, with a total repurchase amount between 30 million and 60 million RMB, and a maximum repurchase price of 60.00 RMB per share [3] Group 2 - As of February 5, 2025, the company has repurchased a total of 1,028,148 shares, accounting for 0.95% of the total share capital, with a total transaction amount of approximately 41.99 million RMB [4]

Market Overview - The animal health sector experienced a decline of 1.01% on August 28, with *ST Lvkang leading the drop [1] - The Shanghai Composite Index closed at 3843.6, up 1.14%, while the Shenzhen Component Index closed at 12571.37, up 2.25% [1] Stock Performance - Notable gainers included: - Qudongli (838275) with a closing price of 11.07, up 5.23% [1] - Xianfeng Holdings (002141) at 4.19, up 1.21% [1] - Zhongmu Co. (600195) at 7.63, up 0.66% [1] - Major decliners included: - *ST Lvkang (002868) at 27.20, down 3.51% [2] - Shenyuan Bio (688098) at 12.59, down 2.70% [2] - KQ Bio (688526) at 18.40, down 1.55% [2] Capital Flow - The animal health sector saw a net outflow of 136 million yuan from institutional investors, while retail investors contributed a net inflow of 101 million yuan [2] - The detailed capital flow for key stocks showed: - Zhongmu Co. had a net outflow of 18.59 million yuan from institutional investors [3] - *ST Lvkang experienced a significant net outflow of 7.31 million yuan from institutional investors [3] - Retail investors showed a net inflow of 5.64 million yuan into *ST Lvkang [3]

Fundraising Overview - The company raised a total of RMB 394,016,730.00 from its initial public offering (IPO) by issuing 38,667,000 shares at RMB 10.19 per share, with a net amount of RMB 347,440,291.00 after deducting issuance costs [1][2] - For the non-public offering, the company raised RMB 499,999,984.00 at a price of RMB 19.69 per share, resulting in a net amount of RMB 495,954,700.96 after deducting issuance costs [2][3] Fund Management - The company has established a fundraising management method to ensure the proper management and use of raised funds, in compliance with relevant laws and regulations [3][4] - The company has signed tripartite supervision agreements with banks to manage the special accounts for the raised funds [5][8] Fund Usage - As of June 30, 2025, the company has used RMB 346,338,200.00 from the IPO funds and RMB 498,098,300.00 from the non-public offering funds [10][12] - The company has not used any idle funds for temporary working capital or for cash management during the reporting period [11][13] Project Changes - The company has made changes to its fundraising projects, including reallocating unused funds from the "Annual Production of 10,000 Tons of Plant Microecological Preparations" project to new projects [14][15][16] - The company has also approved the completion of certain projects and the permanent allocation of surplus funds to working capital [12][13] Disclosure Compliance - The company has complied with the disclosure requirements set by the China Securities Regulatory Commission, ensuring timely and accurate reporting of the fundraising and usage status [17]

Group 1 - The board meeting of Qingdao Weilan Biological Co., Ltd. was held on August 27, 2025, with all five directors present, ensuring compliance with relevant regulations [1][2] - The meeting's resolutions were deemed legal and effective, following the procedures outlined in the Company Law of the People's Republic of China and the company's articles of association [1] - The board approved the special report on the use of raised funds, with unanimous support from all directors present [2] Group 2 - The meeting was convened after prior approval from the company's audit committee, indicating a structured decision-making process [2] - All votes during the meeting were in favor, with no dissenting or abstaining votes recorded [2] - Detailed information regarding the half-year report and the special report on fund usage can be found on the Shanghai Stock Exchange website [1][2]

Core Viewpoint - Qingdao Weilan Biological Co., Ltd. has provided a detailed report on the management and usage of raised funds for the first half of 2025, ensuring compliance with regulatory requirements and transparency in financial practices [1]. Fundraising Overview - The company raised a total of RMB 394 million through its initial public offering (IPO), with a net amount of RMB 347 million after deducting issuance costs [1]. - The non-public offering raised RMB 500 million, with a net amount after costs also verified by an accounting firm [1]. Fund Management - The company has established a dedicated fund management policy to ensure the effective use of raised funds, adhering to relevant laws and regulations [1]. - Funds are stored in special accounts, and the company has signed tripartite supervision agreements with banks to ensure proper management [1][2]. Fund Usage - As of June 30, 2025, the company has utilized RMB 346.34 million from the IPO funds and RMB 498.10 million from the non-public offering funds for various projects [4][5]. - The company has not used any raised funds for temporary working capital or to replace pre-invested funds in the projects [5][6]. Project Changes - The company has made several changes to its fundraising projects, including the implementation subject and location for the "Annual Production of 10,000 Tons of Plant Microecological Preparations" project, which is now managed by a wholly-owned subsidiary [3][12]. - The company has also adjusted the use of unspent funds from previous projects to new project investments, ensuring compliance with regulations [4][6]. Financial Performance - The company reported that the cumulative investment in the "Annual Production of 10,000 Tons of Plant Microecological Preparations" project reached RMB 73.31 million, while the "Animal Health Products Comprehensive Production Base" project was completed with a total investment of RMB 104.16 million [8][10]. - The company has not encountered any significant issues in the usage and disclosure of raised funds, maintaining transparency and compliance with regulatory requirements [7][11].

Core Viewpoint - Qingdao Weilan Biological Co., Ltd. disclosed its major operational data for Q2 2025, highlighting significant revenue figures and changes in distributor numbers, which provide insights into the company's performance and market dynamics [1]. Group 1: Operational Performance - The total revenue for Q2 2025 amounted to CNY 255,554,845.37, with enzyme preparations contributing CNY 118,822,845.82 and micro-ecological preparations contributing CNY 62,179,855.65 [1]. - Direct sales accounted for CNY 171,922,085.69, while distribution sales totaled CNY 83,632,759.68 [1]. - Domestic sales reached CNY 224,210,819.54, while overseas sales were CNY 31,344,025.83 [1]. Group 2: Distributor Changes - The total number of distributors increased from 545 to 636 during the reporting period, indicating a growth in the distribution network [1]. - In Northeast China, the number of distributors rose from 31 to 38, while in North China, it increased from 60 to 76 [1]. - The East China region saw a significant increase from 304 to 331 distributors, while South China had a slight increase from 50 to 55 [1].