现场播放沙钢成立50周年专题片，重温了沙钢从1975年以45万元自筹资金起步，从长江边的一家小轧钢厂，发展成为如 今年钢产量超4000万吨、总资产超3000亿元的大型跨国钢铁集团的奋斗历程。 张家港市委书记韩卫表示，50年，沙钢演绎了从"江边小厂"到"钢铁巨头"的精彩蝶变，实现了从"跟跑追赶"到"创新引 领"的转型跨越，彰显了从"造福桑梓"到"实业报国"的家国情怀。张家港市将一如既往当好企业发展的坚强后盾，靠前解 决企业诉求和难题，推动更多惠企政策"免申即享""直达快享"，全力支持沙钢和全市企业拓展事业版图、实现跨越发 展。 沙钢集团党委书记、董事长沈彬向所有为沙钢事业拼搏奉献的职工及家人，特别是建厂初期投身沙钢、奉献青春的老同 志，以及长期以来关心支持沙钢发展的各级党委政府、合作伙伴和社会各界朋友表示感谢。 转自：新华财经 10月8日，江苏沙钢集团在沙钢体育馆举行成立50周年庆祝大会。沙钢集团公司负责人、老同志代表、职工代表以及张家 港市相关领导等共同出席活动，回顾这家世界500强企业半个世纪的发展历程，展望未来高质量发展新蓝图。 （沙钢集团为企业老同志代表颁授纪念盘） 站在新的历史起点，沙钢将锚定"建设世 ...

Investment Rating - The report assigns a "Buy" rating for the company, indicating a positive outlook for investment opportunities [3]. Core Views - The company is a global leader in the methionine industry, with a robust development in specialty products. The forecasted net profit for 2025-2027 is expected to be 1.6 billion, 1.7 billion, and 2.1 billion yuan respectively, with growth rates of 29%, 11%, and 20% [3]. - The company is currently undervalued, with a reasonable valuation range for 2025 estimated between 27.6 billion and 29.1 billion yuan, and for 2026 between 30.3 billion and 33.2 billion yuan [3]. Summary by Sections Company Overview - The company is a leading global producer of animal nutrition additives, with production bases in Europe, the USA, China, and Thailand. Its main products include methionine, vitamins, and specialty products [9][15]. - The company has a strong backing from state-owned enterprises, enhancing its market position and credibility [15][22]. Methionine Market Dynamics - The methionine industry is characterized by high barriers to entry and strong demand growth. The global supply is stable, with limited new capacity expected, leading to a favorable supply-demand balance [9][15]. - The company is one of the few manufacturers capable of producing both solid and liquid methionine, with significant production capacities in both forms [9][32]. Specialty Products Development - Specialty products represent the company's second major business pillar, with a diverse product matrix that includes hundreds of products. The gross margin for specialty products is approximately 41% [9][37]. - The company is actively expanding its specialty product offerings through product localization, new product launches, and acquisitions [9][37]. Financial Performance and Forecast - The company's total revenue is projected to grow from 13.18 billion yuan in 2023 to 19.94 billion yuan in 2027, with a compound annual growth rate (CAGR) of 13.65% [3]. - The net profit is expected to rebound significantly in 2024, reaching approximately 1.2 billion yuan, driven by rising methionine prices and increased sales volumes [3][37]. Valuation and Investment Potential - The report highlights that the company's current valuation is low compared to its growth potential, with a projected P/E ratio decreasing from 20.96 in 2024 to 12.10 in 2027 [3]. - The company is well-positioned to capitalize on the growing demand for methionine and specialty products, making it an attractive investment opportunity [3].

证券代码：600299 证券简称：安迪苏 公告编号：2025-045 蓝星安迪苏股份有限公司 2025年第三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 (一)股东大会召开的时间：2025 年 9 月 25 日 (二)股东大会召开的地点：北京市朝阳区北土城西路 9 号蓝星大厦会议室 (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 | 264 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 2,310,120,234 | | 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（%） | 86.1374 | (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。 本次股东大会由公司董事会召集，公司董事长郝志刚先生主持大会，采取现 场投票和网络投票相结合的表决方式。会议召集、召开程序符合《中华人民共 ...

北京市金杜律师事务所上海分所 关于蓝星安迪苏股份有限公司 2025 年第三次临时股东大会 之法律意见书 致：蓝星安迪苏股份有限公司 北京市金杜律师事务所上海分所（以下简称金杜）接受蓝星安迪苏股份有限公司 （以下简称安迪苏或公司）的委托，根据《中华人民共和国证券法》（以下简称《证 券法》）、《中华人民共和国公司法》（以下简称《公司法》）、中国证券监督管理 委员会（以下简称中国证监会）《上市公司股东会规则》（以下简称《股东会规则》） 等中华人民共和国境内（以下简称中国境内，为本法律意见书之目的，不包括中国香 港特别行政区、中国澳门特别行政区和中国台湾省）现行有效的法律、行政法规及规 范性文件和现行有效的公司章程有关规定，指派律师出席了公司于 2025 年 9 月 25 日召 开的 2025 年第三次临时股东大会（以下简称本次股东大会），并就本次股东大会相关 事项出具本法律意见书。 为出具本法律意见书，金杜律师审查了安迪苏提供的以下文件，包括但不限于： 1. 经蓝星安迪苏股份有限公司 2023 年年度股东大会审议通过的《蓝星安迪苏股 份有限公司章程》（以下简称《公司章程》）； 2. 安迪苏 2025 年 8 月 3 ...

Investment Rating - The investment rating for the company is "Buy" with a target of outperforming the industry index by more than 15% over the next six months [5]. Core Views - The company has shown significant growth in sales of methionine and vitamin products in the first half of 2025, indicating a strong long-term development potential [1][4]. - The company's financial performance is supported by a substantial increase in sales volume, particularly in the methionine segment, which has benefited from rising market penetration of liquid methionine products [4][11]. - The company is focusing on a "dual pillar strategy" to strengthen its leadership in the methionine industry while expanding its high-value specialty products [9][10]. Financial Summary - For the first half of 2025, the company reported a revenue of 8.512 billion yuan, a year-on-year increase of 17.23%, and a net profit attributable to shareholders of 740 million yuan, up 21.82% year-on-year [1]. - The projected revenue for 2025 is 17.288 billion yuan, with a net profit of 1.714 billion yuan, reflecting a year-on-year growth of 42.3% [11]. - The company's gross profit margin for the first half of 2025 was 28.41%, slightly down from the previous year, but the net profit margin improved to 8.71% [2][3]. Operational Performance - The company's cash flow from operating activities increased by 17.82% year-on-year, reaching 1.45 billion yuan in the first half of 2025 [3]. - The accounts receivable turnover ratio improved from 3.93 times in 2024 to 4.20 times in 2025, indicating better efficiency in collecting receivables [3]. - The inventory turnover ratio decreased from 2.52 times in 2024 to 2.37 times in 2025, suggesting a potential area for improvement in inventory management [3]. Market Position and Strategy - The company is enhancing its production capacity for solid methionine and expanding its liquid methionine production in Europe, with plans for full operation by the end of 2025 [9]. - The specialty products segment is diversified, with a strong focus on ruminant products, which account for over 50% of market share, and enzyme preparations aimed at improving feed digestibility [10]. - The company plans to accelerate local production capacity in China and Spain, integrating recent acquisitions to enrich its product matrix [10].

Core Viewpoint - The company reported a significant increase in revenue and net profit for the first half of 2025, driven by strong sales of methionine and vitamins, despite a slight decline in gross margin [1][3]. Financial Performance - The company's revenue for the first half of 2025 was 8.512 billion yuan, a year-on-year increase of 17.23% - Net profit attributable to shareholders was 740 million yuan, up 21.82% year-on-year - The gross profit margin for the first half of 2025 was 28.41%, a decrease of 2.95 percentage points compared to the same period in 2024 - Financial expenses increased by 175.14% year-on-year, primarily due to increased interest income and foreign exchange impacts [1][2] Cash Flow and Working Capital - Net cash flow from operating activities was 1.450 billion yuan, up 17.82% year-on-year - Net cash flow from investing activities was -1.221 billion yuan, a decrease of 75.05% year-on-year, mainly due to accelerated construction of projects - The ending balance of cash and cash equivalents was 1.459 billion yuan, an increase of 42.37% year-on-year - Accounts receivable increased to 2.082 billion yuan, up 4.12% year-on-year, with an improved turnover rate [2] Product Performance - The functional products segment generated revenue of 6.47 billion yuan, a year-on-year increase of 20.03% - The methionine segment showed a steady recovery in market prices, with sales volume increasing significantly, particularly in liquid methionine [3] - The vitamin segment benefited from increased sales of Vitamin A and E, offsetting price pressures in the second quarter [3] Strategic Development - The company is solidifying its leadership position in the methionine industry and advancing its dual pillar strategy with a focus on specialty products - The construction of a 150,000-ton solid methionine plant in Quanzhou is progressing smoothly, with plans for a liquid methionine plant in Europe to be operational by the end of 2025 [4] - The specialty products segment includes a diverse range of products, with a strong focus on ruminant products and enzyme preparations, aiming for financial growth by 2027 [5] Investment Outlook - The company is expected to achieve revenues of 17.288 billion yuan, 19.026 billion yuan, and 20.552 billion yuan for 2025-2027, with corresponding net profits of 1.714 billion yuan, 1.944 billion yuan, and 2.216 billion yuan - The growth is supported by increasing sales in methionine and vitamins, alongside the company's ongoing efforts to enhance its competitive position through the dual business strategy [6]

Core Viewpoint - The company announces the implementation of an online voting reminder service for its upcoming shareholder meeting to enhance participation among small and medium investors [1][2]. Group 1: Shareholder Meeting Details - The company will hold its third extraordinary general meeting of 2025 on September 25, 2025, at 14:00, utilizing both on-site and online voting methods [1]. - The notice regarding the shareholder meeting was previously disclosed on September 10, 2025 [1]. Group 2: Voting Reminder Service - The company will employ the Shanghai Stock Exchange Information Network Co., Ltd. to provide a reminder service for shareholders, ensuring timely participation and voting [1]. - Shareholders will receive proactive notifications via smart SMS about the meeting and voting details based on the shareholder registry date [1]. - Investors can vote directly through the provided manual after receiving the SMS, and alternative voting methods remain available in case of congestion [1].

Core Viewpoint - The company announced its plan to utilize the shareholder meeting reminder service provided by Shanghai Stock Exchange Information Co., Ltd. to enhance shareholder engagement and participation in voting [2] Group 1 - The company will delegate the reminder service to Shanghai Stock Exchange Information, which will use smart messaging to notify shareholders [2] - The service will actively remind shareholders to attend and vote at the meetings based on the shareholder register as of the record date [2] - Each investor will receive invitations and information regarding the meeting agenda through proactive notifications [2]

蓝星安迪苏股份有限公司 2025 年第三次临时股东大会会议资料 蓝星安迪苏股份有限公司 2025 年第三次临时股东大会 会议资料 二零二五年九月二十五日 1 蓝星安迪苏股份有限公司 2025 年第三次临时股东大会会议资料 蓝星安迪苏股份有限公司 2025 年第三次临时股东大会 重要提示： 现场会议时间：2025 年 9 月 25 日（星期四）下午 14:00 会议地点：北京市朝阳区北土城西路 9 号蓝星大厦会议室 主持人：董事长郝志刚 参加会议人员： | | | 1. 在股权登记日持有公司股份的股东 2. 本次股东大会的股权登记日为 2025 年 9 月 18 日，于股权登记日下午收市时 中国证券登记结算有限责任公司上海分公司登记在册的公司股东均有权出 席股东大会，并可以以书面形式委托代理人出席会议和参加表决。该代理人 不必是公司股东 3. 公司董事、监事和高级管理人员 4. 公司聘请的律师 蓝星安迪苏股份有限公司 2025 年第三次临时股东大会会议资料 蓝星安迪苏股份有限公司 2025 年第三次临时股东大会 会议须知 蓝星安迪苏股份有限公司 董事会办公室 3 | 议程 | | | --- | --- | | ...

证券代码：600299 证券简称：安迪苏 公告编号： 2025-044 蓝星安迪苏股份有限公司 关于股东大会开设网络投票提示服务的公告 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。 蓝星安迪苏股份有限公司（以下简称"安迪苏"或"公司"）已于 2025 年 9 月 10 日披露了关于召开 2025 年第三次临时股东大会的通知，拟于 2025 年 9 月 25 日下午 14:00 召开 2025 年第三次临时股东大会，本次会议采用现场投票和网络 投票相结合的表决方式。具体内容详见公司披露于上海证券交易所的公告《安 迪苏关于召开 2025 年第三次临时股东大会的通知》（公告编号：2025-042）。 为更好地服务广大中小投资者，确保有投票意愿的中小投资者能够及时参 会、及时投票。公司拟使用上证所信息网络有限公司（以下简称"上证信息"） 提供的股东大会提醒服务，委托上证信息通过智能短信等形式，根据股权登记 日的股东名册主动提醒股东参会投票，向每一位投资者主动推送股东会参会邀 请、议案情况等信息。投资者在收到智能短信后，可根据使用手册 ...