证券代码：600298 证券简称：安琪酵母 公告编号：临 2024-124 号 安琪酵母股份有限公司 2024 年第六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、 会议召开和出席情况 (五) 公司董事、监事和董事会秘书的出席情况 1、 公司在任董事 11 人，出席 2 人，董事长熊涛、董事周琳、郑念因公出差、 独立董事蒋春黔、孙燕萍、刘信光、涂娟、莫德曼、程池因工作安排冲突等原因 未能出席本次会议； 2、 公司在任监事 3 人，出席 2 人；监事李啸因公出差未能出席本次会议； 3、 董事会秘书高路出席了本次会议；部分高管列席了会议。 二、 议案审议情况 (一) 非累积投票议案 (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： | 1、出席会议的股东和代理人人数 | 670 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 364,126,301 | | 3、出席会议的股东所持有表决权股份数占公 ...

为出具本法律意见书，本所律师审查了公司提供的包括但不限于如下相关文 件，并查阅了公司在有关网站披露的如下信息： 天元 TianYun 湖北瑞通天元律师事务所 关于安琪酵母股份有限公司 2024 年第六次临时股东大会的 法律意见书 （2024）鄂瑞天律顾字第 0326 号 湖北瑞通天元律师事务所 法律意见书 致：安琪酵母股份有限公司 湖北瑞通天元律师事务所（以下简称"本所"）受安琪酵母股份有限公司（以 下简称"安琪酵母"或"公司"）委托，指派本所律师出席安琪酵母股份有限公 司 2024 年第六次临时股东大会（以下简称"本次股东大会"），并对本次股东 大会的合法性进行见证并出具法律意见。 本法律意见书根据《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》"）、《上市公司股东大会 规则》（以下简称"《股东大会规则》"）、《律师事务所从事证券法律业务管 理办法》、《律师事务所证券法律业务执业规则(试行)》、《安琪酵母股份有限 公司章程》（以下简称"《公司章程》"）、《安琪酵母股份有限公司股东大会 议事规则》（以下简称"《股东大会议事规则》"）等法律、法规及规范性文件 ...

证券代码：600298 证券简称：安琪酵母 公告编号：临 2024-125 号 安琪酵母股份有限公司 关于注销回购股份减少注册资本 暨通知债权人的公告 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、通知债权人的原因 2024 年 10 月 29 日，安琪酵母股份有限公司（以下简称公 司）召开第九届董事会第三十七次会议、第九届监事会第三十五 次会议审议通过了《关于变更回购股份用途并注销的议案》。2024 年 11 月 15 日，公司召开 2024 年第六次临时股东大会审议通过 了上述议案。具体内容详见公司于 2024 年 10 月 31 日及 2024 年 11 月 16 日在上海证券交易所网站（www.sse.com.cn）上披露的 "临 2024-116 号""临 2024-117 号""临 2024-119 号""临 2024-124 号"。 截 至 目 前 ， 公 司 回 购 专 用 证 券 账 户 中 的 股 份 已 使 用 11,476,000 股，用于 2024 年限制性股票激励计划，尚有 8 股未 使用。 ...

Summary of Anqi Yeast Conference Call Company Overview - Anqi Yeast achieved robust operating performance in the first three quarters of 2024, with revenue increasing by 13.04% year-on-year to 10.912 billion yuan and net profit attributable to shareholders rising by 4.23% to 0.953 billion yuan [2][3] Core Business Performance - Yeast and deep-processed products are the main revenue sources, generating 7.711 billion yuan, a year-on-year increase of 11.69%, accounting for over 70% of main business revenue [2] - Sugar products revenue decreased by 17.92% to 0.897 billion yuan, while packaging products revenue fell by 4.11% to 0.306 billion yuan [4] - Other products saw a significant increase in revenue by 44.17%, reaching 1.926 billion yuan [4] - Online sales contributed 3.537 billion yuan (33% of main business revenue), while offline sales accounted for 7.304 billion yuan (67%) [4] - International revenue reached 4.257 billion yuan (39% of main business revenue), growing by 21.77%, while domestic revenue was 6.583 billion yuan (61%), increasing by 6.94% [4] Global Market Position - Anqi Yeast is the largest outerwear supplier and the second-largest yeast supplier globally, with production bases in 13 cities worldwide, including 11 in China and 2 overseas [5] - The total production capacity for yeast products exceeds 400,000 tons, with a domestic market share of 55% and a global market share of over 19% [5] Future Development Strategy - The company aims to focus on five major industries: yeast health food ingredients, nutritional health products, biotechnology, and new health packaging, while accelerating breakthroughs in new technologies [6] - Anqi Yeast's mission is to drive innovation in biotechnology for healthier living, with a vision to become the world's leading educational enterprise and a top-tier biotechnology company [6] Achievements and Honors - The company received the highest rating of A for information disclosure from the Shanghai Stock Exchange and was listed among the top 100 favorite listed companies by Xueqiu in 2023 [7] - Anqi Yeast has won multiple awards, including two National Science and Technology Progress Awards and over 300 invention patents [7] Company History - Founded in 1986 and headquartered in Yichang, Hubei, Anqi Yeast is a national key high-tech enterprise that went public in 2000 [8] - The company has become the largest project company in Asia and the second largest globally, continuously exploring new application fields such as baking, seasoning, and biomedicine [8]

证券代码：600298 证券简称：安琪酵母 公告编号：临 2024-123 号 安琪酵母股份有限公司 2024 年第三季度业绩说明会召开情况的公告 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。 安琪酵母股份有限公司（以下简称公司）于 2024 年 11 月 14 日（星期四）上午 10:00-11:30 在上海证券交易所上证路演 中心（网址：http://roadshow.sseinfo.com/），以视频直播和 网络文字互动方式召开了 2024 年第三季度业绩说明会。关于本 次业绩说明会的召开事项，详见 2024 年 11 月 2 日在上海证券交 易所网站（www.sse.com.cn）上披露的《安琪酵母股份有限公司 关于召开2024年第三季度业绩说明会的公告》（临2024-122号）。 现将召开情况公告如下： 2024 年 11 月 14 日，公司董事长熊涛、总经理肖明华、董 事会秘书高路、财务负责人覃光新、独立董事涂娟出席了本次业 绩说明会，与投资者进行互动交流和沟通，就投资者关注的问题 在信息披露允许的范围内进行了 ...

Investment Rating - The report maintains a "Buy" rating for the company [5][7]. Core Views - The company's main products are experiencing strong growth, with a continued upward trend in both domestic and international markets [3][5]. - The company reported total revenue of 10.912 billion yuan for the first three quarters of 2024, representing a year-on-year increase of 13.04%, and a net profit attributable to shareholders of 0.953 billion yuan, up 4.23% year-on-year [3]. - The company is expected to see further improvements in profitability due to enhanced cost control and the successful implementation of its overseas expansion strategy [5]. Financial Performance Summary - For Q3 2024, the company achieved total revenue of 3.738 billion yuan, a year-on-year increase of 27.14%, and a net profit of 0.262 billion yuan, up 7.02% year-on-year [3]. - The revenue from yeast and deep processing products for the first three quarters of 2024 was 7.711 billion yuan, an increase of 11.69% year-on-year [3]. - The company’s gross profit margin for Q3 2024 was 21.35%, down 3.63 percentage points year-on-year, while the net profit margin decreased by 1.32 percentage points to 7.01% [4]. Product and Regional Performance - Domestic revenue reached 6.583 billion yuan, a year-on-year increase of 6.94%, while international revenue was 4.257 billion yuan, up 21.77% year-on-year [3]. - The company’s other income, including health products and enzyme preparations, saw a significant increase of 44.17% year-on-year, contributing to the overall revenue growth [3]. Future Outlook - The company is expected to achieve net profits of 1.362 billion yuan, 1.604 billion yuan, and 1.807 billion yuan for 2024, 2025, and 2026 respectively, with corresponding EPS of 1.57, 1.85, and 2.08 yuan [5]. - The report highlights the potential for cost reductions in 2025, which could enhance the company's profitability further [5].

Investment Rating - The investment rating for the company is "Buy" [1] Core Views - The company reported a revenue of 10.912 billion yuan for the first three quarters of 2024, representing a year-on-year growth of 13.04%. The net profit attributable to shareholders was 0.953 billion yuan, up 4.23% year-on-year [3][4] - In Q3 2024, the company achieved a revenue of 3.738 billion yuan, a significant increase of 27.14% year-on-year, with a net profit of 0.262 billion yuan, growing by 7.02% year-on-year [3][4] - The company is expected to maintain double-digit growth in revenue over the next two years, driven by domestic demand recovery and international expansion [6] Summary by Sections Financial Performance - The company’s main revenue for 2022A, 2023A, and projected for 2024E, 2025E, and 2026E are 12.843 billion, 13.581 billion, 15.589 billion, 17.499 billion, and 19.398 billion yuan respectively [7] - The net profit attributable to shareholders for the same periods is projected to be 1.321 billion, 1.270 billion, 1.360 billion, 1.597 billion, and 1.859 billion yuan respectively [7] - The earnings per share (EPS) for 2024E is expected to be 1.57 yuan, with a projected P/E ratio of 24.20 [7] Revenue Growth - The core products, yeast and deep-processed products, saw a revenue increase of 17.76% year-on-year in Q3 2024, with online and offline channels both achieving over 20% growth [4] - Domestic revenue reached 2.269 billion yuan, growing by 20.70% year-on-year, while international revenue was 1.433 billion yuan, up 30.20% year-on-year [4] Cost and Profitability - The comprehensive gross margin for Q3 2024 was 21.35%, down 3.62 percentage points year-on-year, primarily due to increased shipping costs [5] - The net profit margin was 6.98%, a decrease of 1.59 percentage points year-on-year, while the non-recurring net profit margin was 6.51%, only down 0.24 percentage points [5] Future Outlook - The company is expected to achieve revenues of 15.589 billion, 17.499 billion, and 19.398 billion yuan for 2024, 2025, and 2026 respectively, with growth rates of 14.78%, 12.25%, and 10.85% [6] - The company is positioned as a global leader, with competitive advantages likely to enhance its market share and profitability [6]

Investment Rating - The report maintains an "Overweight" rating for the company [1] Core Views - In 3Q2024, the company achieved revenue of RMB 37.38 billion, a YoY increase of 27.14%, with net profit attributable to shareholders of RMB 2.62 billion, a YoY increase of 7.02%, and adjusted net profit of RMB 2.43 billion, a YoY increase of 21.60% [2] - Revenue growth was driven by strong performance in the yeast business, improvement in derivative products, and significant growth in overseas markets, particularly in the Middle East, Africa, and Asia-Pacific regions [2] - Domestic and international revenues were RMB 22.69 billion and RMB 14.33 billion, respectively, with YoY growth rates of 20.70% and 30.20% [2] - Gross margin in 3Q2024 was 21.35%, down 3.63 percentage points YoY due to rising shipping costs, while adjusted net margin remained stable at 6.5% [3] - The company is expected to achieve full-year revenue growth close to its 15% target, with steady profit growth and potential cost improvements in the next fiscal year [3] Financial Projections - Revenue for 2024-2026 is projected to be RMB 154.42 billion, RMB 173.31 billion, and RMB 194.56 billion, with YoY growth rates of 13.70%, 12.24%, and 12.26%, respectively [4] - Net profit attributable to shareholders for 2024-2026 is expected to be RMB 13.97 billion, RMB 16.17 billion, and RMB 19.36 billion, with YoY growth rates of 9.96%, 15.80%, and 19.71%, respectively [4] - EPS for 2024-2026 is forecasted to be RMB 1.61, RMB 1.86, and RMB 2.23, with corresponding P/E ratios of 22.85x, 19.73x, and 16.48x [4] Financial Metrics - Gross margin is expected to improve from 24.2% in 2023 to 26.0% in 2026, driven by cost reductions and operational efficiencies [5] - ROE is projected to increase from 12.61% in 2023 to 14.49% in 2026, reflecting improved profitability and capital efficiency [5] - The company's asset turnover is expected to improve, with total asset turnover days decreasing from 480 days in 2023 to 421 days in 2026 [5] Operational Highlights - The company's overseas business has shown strong growth, contributing significantly to overall revenue, with a focus on expanding market share in emerging markets [2] - Cost pressures from rising shipping expenses have impacted gross margins, but the company expects cost improvements in the next fiscal year due to lower raw material prices [3] - The company's R&D expenses are expected to increase steadily, reflecting continued investment in product innovation and market expansion [5]

Investment Rating - The investment rating for the company is "Outperform the Market" [2] Core Views - The company has shown strong revenue growth, with a Q3 revenue increase of 27.14% year-on-year, and a total revenue of 10.912 billion yuan for the first three quarters of 2024, representing a 13.04% increase year-on-year [5] - The company is expected to recover its profit margins as raw material prices decline, despite a current gross margin decrease of 3.62 percentage points in Q3 [6] - The company has experienced significant growth in its other product lines, particularly with a 76.54% increase in revenue from other products in Q3 [6] - The company has achieved notable growth in both domestic and international markets, with Q3 revenue from domestic sales at 2.269 billion yuan (+20.7%) and international sales at 1.433 billion yuan (+30.2%) [7] - The earnings per share (EPS) forecast for 2024-2026 is projected to be 1.57, 1.72, and 1.98 yuan respectively, with a reasonable valuation range of 39.25 to 47.1 yuan based on a price-to-earnings (PE) ratio of 25-30 times for 2024 [7] Financial Performance Summary - For Q3 2024, the company reported a revenue of 3.738 billion yuan, with a net profit of 262 million yuan, reflecting a year-on-year increase of 7.02% [5] - The company’s cash flow from operations for Q3 was 1.208 billion yuan, up 44.11% year-on-year [5] - The gross margin for Q3 was 21.35%, down 3.62 percentage points year-on-year, while the net profit margin was 6.51%, down 0.24 percentage points [6] - The company’s total revenue for 2023 is projected to be 13.581 billion yuan, with a year-on-year growth of 5.7% [8] Revenue Breakdown - The revenue and growth rates for various product lines in Q3 2024 are as follows: - Yeast and deep-processed products: 2.592 billion yuan (+17.76%) - Sugar products: 309 million yuan (+5.48%) - Packaging products: 111 million yuan (+16.3%) - Other products: 690 million yuan (+76.54%) [6] Market Comparison - The company’s stock performance over the past three months shows an absolute increase of 28.5% compared to the CSI 300 index [4] - The company’s market capitalization is approximately 32.904 billion yuan, with a circulating market value of 32.368 billion yuan [2] Future Outlook - The company is expected to maintain a positive growth trajectory, with projected revenues of 15.408 billion yuan in 2024, 17.046 billion yuan in 2025, and 18.664 billion yuan in 2026 [10] - The net profit is forecasted to grow from 1.365 billion yuan in 2024 to 1.724 billion yuan in 2026, indicating a strong growth potential [10]

安琪酵母股份有限公司 2024 年第六次临时股东大会会议资料 2024 年 11 月 15 日 安琪酵母股份有限公司 2024 年第六次临时股东大会会议议程 ● 会议召开时间：2024 年 11 月 15 日 ● 现场会议时间：2024 年 11 月 15 日下午 14:00 ● 网络投票时间：采用上海证券交易所网络投票系统，通 过交易系统投票平台的投票时间为 2024 年 11 月 15 日的 9:15-9:25、9:30-11:30、13:00-15:00；通过互联网投票平台的 投票时间为 2024 年 11 月 15 日的 9:15-15:00。 ● 会议召开地点：公司一楼会议室 ● 会议召开方式：现场投票与网络投票相结合的方式 二、选举监票人（两名股东代表和一名监事）； 三、审议会议议案： 1.关于在印度尼西亚设立子公司的议案； 2.关于变更回购股份用途并注销的议案。 四、股东及股东代表对议案进行提问、发言； 五、现场与会股东及股东代表对上述议案进行书面表决，等 待网络投票结果； 六、计票员计票，监票人、律师共同参与负责计票、监票； 七、宣布议案表决结果； 八、湖北瑞通天元律师事务所律师作股东大会律师 ...