证券代码：600298 证券简称：安琪酵母 公告编号：2025-052 号 安琪酵母股份有限公司 第十届董事会第二次会议决议公告 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。 一、董事会会议召开情况 安琪酵母股份有限公司（以下简称公司）于2025年5月22日 以邮件的方式发出召开第十届董事会第二次会议的通知。会议于 2025年5月26日上午以现场与通讯相结合的方式在公司五楼会议 室召开。本次会议应参会董事11名，实际参会董事11名，其中以 通讯表决方式出席会议的董事6名。会议由董事长熊涛主持，公 司部分高级管理人员列席了会议。 本次会议审议了相关议案并进行了逐项表决，其中议案二审 议表决时关联董事回避表决，非关联董事一致通过。本次会议的 召集和召开符合《中华人民共和国公司法》《安琪酵母股份有限 公司章程》《安琪酵母股份有限公司董事会议事规则》的有关规 定，会议决议有效。 本议案尚需提交公司股东会审议。 （二）关于调整公司独立董事津贴的议案 二、董事会会议审议情况 （一）关于公司实施无血清细胞培养基核心技术攻关工程项 目的议 ...

Core Viewpoint - Angel Yeast is a significant player in the global yeast market, controlling one-fifth of the world's yeast production capacity and ranking second in market share. The company is not just selling yeast but is also addressing the global protein supply crisis, which is becoming increasingly critical for human survival in the 21st century [2][4][6]. Group 1: Protein Supply Challenges - The current protein supply in China heavily relies on imported feed, particularly soybeans, with domestic production being insufficient to meet demand. This dependency creates vulnerabilities in the food supply chain [4][5]. - Over the past thirty years, China's soybean imports have surged twentyfold, significantly benefiting major grain traders in the West. The import of whey protein has also increased dramatically, indicating a reliance on foreign sources for quality protein [5][6]. - The protein supply chain is at risk, as global demand for quality protein continues to rise, and any disruption in imports could lead to severe shortages and price increases [8][9]. Group 2: Angel Yeast's Innovative Approach - Angel Yeast is leveraging industrial methods to produce protein through yeast, which does not require arable land and has a lower carbon footprint compared to traditional livestock farming. This approach allows for continuous production without dependence on weather conditions [9][10]. - The company is cultivating high-protein yeast strains that can produce protein efficiently, avoiding the risks associated with allergens and antibiotic residues found in traditional animal protein sources [9][10]. - By creating a closed-loop ecosystem, Angel Yeast is transforming the protein supply landscape, providing a sustainable alternative that could alleviate reliance on international suppliers and enhance food security [11][12]. Group 3: Market Implications - The emergence of yeast protein could lead to a restructuring of the entire protein supply chain, potentially lowering prices for traditional protein sources like soy and whey as competition increases [10][11]. - Angel Yeast's innovations represent a shift in the industry, where the focus is on industrial production rather than agricultural yield, thus changing the dynamics of protein supply and demand [12]. - The company's advancements in yeast protein production could position it as a leader in the global protein market, offering solutions that meet the growing needs of consumers while reducing environmental impact [12].

Core Viewpoint - The legal opinion letter from Shanghai Jintiancheng Law Firm addresses the implementation of the repurchase and cancellation of part of the restricted stock under the 2024 incentive plan of Angel Yeast Co., Ltd. [1] Group 1: Decision and Disclosure Procedures - The company has completed the necessary decision-making and disclosure procedures for the repurchase and cancellation of restricted stocks, including approvals from the 37th and 39th meetings of the board [5] - The company has publicly disclosed the repurchase plan and confirmed that no creditors have claimed debts during the public notice period of 45 days [5][6] Group 2: Details of the Repurchase and Cancellation - The repurchase and cancellation involve 488,000 shares of restricted stock due to 39 incentive targets no longer meeting the conditions for incentives [6] - After the repurchase, the remaining restricted stocks under the incentive plan will total 10,988,000 shares [6] - The repurchase is expected to be completed by May 28, 2025, and the company will proceed with the necessary capital reduction registration after the cancellation [6] Group 3: Legal Conclusions - The law firm concludes that the company has fulfilled its disclosure obligations and complied with relevant regulations regarding the repurchase and cancellation of restricted stocks [6]

Group 1 - The company is implementing a repurchase and cancellation of restricted stocks due to 39 incentive targets no longer meeting the incentive conditions because of resignation and job transfers [1][2] - The repurchase involves a total of 506,200 shares, with 488,000 shares from the 2020 incentive plan and 18,200 shares from the 2024 incentive plan [2][3] - The decision for the repurchase was approved by the company's board and supervisory committee, and legal opinions were obtained confirming the compliance of the process [2][4] Group 2 - After the repurchase, the total number of shares will decrease from 868,644,671 to 868,138,471, with the remaining shares under the 2020 incentive plan being zero [3][4] - The company assures that the repurchase will not change the controlling shareholder or actual controller, and the equity distribution will still meet listing requirements [3][4] - Legal opinions confirm that the repurchase process is compliant with relevant laws and regulations, and the company will fulfill its information disclosure obligations [4][5]

湖北瑞通天元律师事务所 关于安琪酵母股份有限公司 回购注销 2020年限制性股票激励计划部分限制性股票 = 之法律意见书 | | | REDSECE | | | | | --- | --- | --- | --- | --- | --- | | | | | | | | | | 199 | ﺍﻟﻤﺴﺎﻋﺪ ﺍﻟﻤ | ﺍﻟﻤﺴﺎﻋﺪﺓ | | an a | | | | DDLAD | | | | | | | THE LE | | | | | | | | | 12 | | 敬业 勤业 精业 二〇二五年五月 t - 100 - 100 - 10 敬业 勒业 精业 湖北瑞通天元律师事务所法律意见书 释 义 湖北瑞通天元律师事务所法律意见书 湖北瑞通天元律师事务所 关于安琪酵母股份有限公司 回购注销 2020年限制性股票激励计划部分限制性股票 | 安琪酵母/公司 | 指 | 安琪酵母股份有限公司 | | --- | --- | --- | | 本事项/回购注销事项 | 指 | 回购注销部分限制性股票 | | 本计划 | 損 | 安琪酵母股份有限公司 2020年限制性股 | | | | 票激励计划 | | 《激励计划》 ...

之 法律意见书 上海市锦天城律师事务所 关于安琪酵母股份有限公司 2024 年限制性股票激励计划部分限制性股票回购注销实施 事项 地址：上海市浦东新区银城中路 501 号上海中心大厦 11、12 楼 电话：021-20511000 传真：021-20511999 邮编：200120 上海市锦天城律师事务所 法律意见书 上海市锦天城律师事务所 关于安琪酵母股份有限公司 2024 年限制性股票激励计划 部分限制性股票回购注销实施事项之 法律意见书 致：安琪酵母股份有限公司 第一部分 引言 上海市锦天城律师事务所（以下简称"本所"）接受安琪酵母股份有限公司 （以下简称"安琪酵母"或"公司"）委托，指派沈诚、朱怡静律师（以下简称 "经办律师"、"本所律师"）担任公司 2024 年限制性股票激励计划所涉本次 部分限制性股票回购注销（以下简称"本次回购注销"）实施涉及相关事项的专 项法律顾问，并出具本法律意见书。 本所及经办律师依据《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》"）、《上市公司股权激励 管理办法》（以下简称"《管理办法》"）、《律师事务所从事证券法律业 ...

| 回购股份数量 | 注销股份数量 | | 注销日期 | | | | --- | --- | --- | --- | --- | --- | | 506,200 | 506,200 | 2025 | 年 5 月 | 28 | 日 | 一、本次限制性股票回购注销的决策与信息披露 2025 年 1 月 15 日，公司召开第九届董事会第三十九次会议、 第九届监事会第三十七次会议审议通过了《关于回购注销 2020 年限制性股票激励计划部分限制性股票及调整回购价格的议案》 证券代码：600298 证券简称：安琪酵母 公告编号：2025-051 号 安琪酵母股份有限公司 关于限制性股票回购注销的实施公告 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： 回购注销原因：安琪酵母股份有限公司（以下简称公司） 2020 年限制性股票激励计划中的 4 名激励对象、2024 年限制性 股票激励计划中的 39 名激励对象因离职及工作调动等原因而不 再符合激励条件。 公司根据《安琪酵母股份有限公司 2020 年限制性股票激 励计划（草案 ...

Investment Rating - The report maintains an "Increase" rating for the food and beverage industry, indicating a positive outlook for key players in the sector [5]. Core Insights - The white liquor industry is experiencing gradual pressure, with a focus on rational targets for 2025. The report emphasizes three main investment lines: leading brands with competitive advantages, high-certainty regional brands, and flexible stocks benefiting from recovery and increased risk appetite [1][2]. - The beer sector shows a slight decline in production, with a 0.6% year-on-year decrease in the first four months of 2025. However, there is potential for recovery in the upcoming peak season, suggesting a favorable investment window [3]. - The report highlights the broad recovery potential in the catering supply space, with leading companies expected to benefit from improved performance and market expansion strategies [4][7]. Summary by Sections White Liquor - The industry consensus is shifting towards stable, high-quality growth with a focus on market share rather than aggressive growth targets. Key strategies include product innovation, market penetration, and international expansion [2]. - Major companies like Guizhou Moutai and Shanxi Fenjiu are focusing on maintaining market stability and enhancing their brand presence among younger consumers [2]. Beer and Beverage - The beer production for January to April 2025 was 11.44 million kiloliters, reflecting a slight decline. However, April showed a 4.8% increase in production, indicating potential for recovery [3]. - The beverage sector is characterized by intense competition, but new product launches and recovery in consumer demand are expected to sustain high growth [3]. Catering Supply - The report notes significant opportunities for leading companies in the catering supply sector, particularly with the introduction of new products and expansion into new categories [4][7]. - Companies like Three Squirrels are diversifying their product lines and enhancing their distribution channels to capture more market share [7].

Core Insights - Yichang's state-owned enterprises (SOEs) have achieved significant milestones, including Anqi Yeast being recognized as a top-level smart factory and Xingfu Electronics becoming the first state-owned enterprise from Hubei to list on the Science and Technology Innovation Board, showcasing the effectiveness of state-owned enterprise reform in driving modernization in China [1][2] Group 1: Performance Metrics - In 2024, Yichang's state-owned enterprises reported total assets exceeding 700 billion yuan, with revenues of 186.1 billion yuan and profits of 8.462 billion yuan, accounting for 40.35% and 66.35% of Hubei's SOE totals, respectively [2] - Over the past three years, Yichang's state-owned enterprises contributed 612 million yuan in state-owned capital returns, marking a 150% increase compared to the previous three-year period [2] Group 2: Strategic Focus - Yichang's SOEs exhibit three key characteristics: focus on core business, empowerment through technology innovation, and market-oriented operations [2] - The focus on core business is exemplified by Anqi Group's commitment to yeast production, which has made it the second-largest yeast company globally, with a production capacity exceeding 450,000 tons [4] Group 3: Innovation and R&D - In 2024, Yichang's SOEs invested 4.084 billion yuan in R&D, with an 11% growth rate, surpassing the national average [6] - The R&D investment in Yichang's SOEs has increased from 47.52 million yuan in 2013 to 1.188 billion yuan in 2024, indicating a strong commitment to innovation [7] Group 4: Global Expansion - Yichang's SOEs are expanding globally, with Anqi Group establishing two overseas factories to enhance global supply capabilities, and Xingfa Group setting up ten overseas sales centers in key markets [11][13] - The export revenue of Yichang's enterprises has significantly increased, with Yihua Group's export earnings rising from 80,000 USD in 2000 to 708 million USD today [13] Group 5: Government Support and Policy - The local government plays a crucial role in supporting SOE reforms by providing a systematic framework that balances regulation and market freedom, fostering a conducive environment for growth [14] - Policies such as the "State-Owned Enterprise Core Business Management Measures" have been implemented to ensure SOEs focus on their primary business activities and avoid non-core investments [4][14]

Group 1 - The "Measures for Promoting and Managing the Catering Industry" will be implemented on June 15, 2025, with significant enhancements in industry promotion, including support for digital development and local特色餐饮 cultivation [1] - The revised measures provide practical guidance for catering service operators, aiming to improve service quality and competitiveness in the industry [1] - Analysts predict a recovery opportunity for the catering industry in 2025, driven by increased demand for banquets, ongoing subsidy policies like dining vouchers, and a potential rise in business dining as economic activity picks up [1][2] Group 2 - Following the announcement of the new measures, companies like Baba Food and Tianwei Food saw significant stock price increases, indicating positive market sentiment towards the catering sector [2] - Key companies in the catering supply chain include Hai Tian Wei Ye, Tian Wei Food, and An Qi Yeast, with projected revenue growth rates varying across the sector [5][6] - The core companies in the catering industry chain encompass various segments, including basic and compound condiments, as well as small dining chains [6]