北京 上海 深圳 武汉 杭州 成都 南京 西安 广州 香港 东京 多伦多 北京市朝阳区东三环北路 8 号亮马河大厦写字楼 1 座 22 层 北京天达共和律师事务所 关于中农发种业集团股份有限公司 向特定对象发行 A 股股票的 补充法律意见书（一） 邮编：100004 电话：010-65906639 传真：010-65107030 网址：http://www.east-concord.com 二零二五年十一月 北京天达共和律师事务所 关于中农发种业集团股份有限公司 向特定对象发行 A 股股票的 补充法律意见书（一） 致：中农发种业集团股份有限公司 北京天达共和律师事务所（以下简称"本所"）接受中农发种业集团股份有限 公司（以下简称"发行人"、"公司"或"农发种业"）之委托，担任发行人向特定对 象发行人民币普通股（A 股）股票（以下简称"本次发行"）的特聘专项法律顾问， 于 2025 年 10 月 21 日出具了《北京天达共和律师事务所关于中农发种业集团股 份有限公司向特定对象发行 A 股股票的法律意见书》（以下简称"《法律意见 书》"）、《北京天达共和律师事务所关于中农发种业集团股份有限公司向特定 对象发行 A ...

证券代码：600313 证券简称：农发种业 公告编号：临 2025-040 中农发种业集团股份有限公司董事会 2025 年 11 月 10 日 1 中农发种业集团股份有限公司 关于向特定对象发行股票申请文件 的审核问询函回复的提示性公告 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。 中农发种业集团股份有限公司（以下简称"公司"）于 2025 年 10 月 30 日收 到上海证券交易所（以下简称"上交所"）出具的《关于中农发种业集团股份有 限公司向特定对象发行股票申请文件的审核问询函》（上证上审（再融 资)[2025]335 号）（以下简称"审核问询函"）。 公司会同相关中介机构对审核问询函所列问题进行了认真研究和逐项落实， 并按审核问询函要求对有关问题进行了说明和论证分析，现根据要求对审核问询 函回复进行公开披露，具体内容详见公司同日在上交所网站披露的《关于中农发 种业集团股份有限公司向特定对象发行股票申请文件的审核问询函的回复报告》 等文件。 公司本次向特定对象发行股票事宜尚需上交所审核通过、中国证券监督管理 委员会同意注 ...

中农发种业集团股份有限公司 与 华泰联合证券有限责任公司 关于中农发种业集团股份有限公司 向特定对象发行股票申请文件的审核问询函的 回复报告 保荐机构（主承销商） （深圳市前海深港合作区南山街道桂湾五路 128 号 前海深港基金小镇 B7 栋 401） 7-1-1 上海证券交易所： 根据贵所于 2025 年 10 月 30 日出具的《关于中农发种业集团股份有限公司 向特定对象发行股票申请文件的审核问询函》（上证上审（再融资）〔2025〕335 号）（以下简称"问询函"）的相关要求，中农发种业集团股份有限公司（以下简 称"公司"、"上市公司"、"发行人"或"农发种业"）与华泰联合证券有限责任 公司（以下简称"保荐人"）、北京天达共和律师事务所（以下简称"律师"）、北 京大地泰华会计师事务所（特殊普通合伙）（以下简称"会计师"）等相关方对问 询函所列问题进行了核查，对申请材料进行了修改、补充和说明。现对问询函的 落实和募集说明书的修改情况逐条书面回复，并提交贵所，请予审核。 说明： 1、如无特别说明，本回复报告中使用的简称或名词释义与《中农发种业集 团股份有限公司 2025 年度向特定对象发行 A 股股票并在主板 ...

Market Overview - The planting industry sector increased by 0.48% on November 7, with Honghui Fruits and Vegetables leading the gains [1] - The Shanghai Composite Index closed at 3997.56, down 0.25%, while the Shenzhen Component Index closed at 13404.06, down 0.36% [1] Stock Performance - Honghui Fruits and Vegetables (603336) closed at 9.80, up 5.15% with a trading volume of 284,800 shares and a turnover of 277 million yuan [1] - Hainan Rubber (601118) closed at 6.01, up 2.74% with a trading volume of 816,000 shares and a turnover of 487 million yuan [1] - New Sai Co. (600540) closed at 5.04, up 1.00% with a trading volume of 108,500 shares and a turnover of 54.53 million yuan [1] - Other notable stocks include Nongfa Seed Industry (600313) and Denghai Seeds (002041), with slight increases of 0.76% and 0.63% respectively [1] Capital Flow - The planting industry sector experienced a net outflow of 139 million yuan from main funds, while retail investors saw a net inflow of 141 million yuan [2][3] - Major stocks like Honghui Fruits and Vegetables and Hainan Rubber had mixed capital flows, with Honghui experiencing a net outflow of 27.9 million yuan from main funds [3] - Hainan Rubber saw a net inflow of 24.7 million yuan from main funds, indicating strong interest despite overall sector outflows [3]

Core Viewpoint - The integration of planting, breeding, and processing industries, known as the "plant-breed-process integration," is gaining traction in China, projected to reach a market value of 3.2 trillion yuan in 2024 and 6.8 trillion yuan by 2030, driven by increasing consumer demand for healthy and organic products and government support for sustainable agriculture [1][10]. Industry Overview - The plant-breed-process integration model combines planting, breeding, and processing to achieve ecological and economic benefits through resource recycling and efficient industry chain connections [3][9]. - The model enhances resource utilization efficiency, reduces costs, and promotes sustainable agricultural development [1][9]. Industry Policies - Recent government policies support the integration model as a means to boost agricultural transformation and rural prosperity, including guidelines for optimizing livestock development and promoting ecological farms [4][5]. - The Ministry of Agriculture and Rural Affairs has issued directives to encourage standardized and ecological farming practices [4][5]. Current Industry Status - The total sown area of crops in China has been increasing, reaching 173 million hectares by 2024, driven by rising consumer demand for staple agricultural products [6][7]. - The livestock sector has also seen growth, with the pig population reaching 424.47 million heads in the first half of 2025, a 2.2% increase year-on-year [7][8]. Competitive Landscape - The industry features a diverse competitive landscape, including large enterprises, small and medium-sized enterprises, and farmer cooperatives, each leveraging unique strengths to capture market share [10]. - Key players include China Shengmu Organic Milk, Hunan New Wufeng, and Modern Farming Group, which are integrating various stages of the agricultural value chain [10][11]. Industry Development Trends - The rapid advancement of modern agricultural technologies, such as biotechnology and smart equipment, is expected to enhance production efficiency and product quality within the integration model [14]. - Increasing market demand for high-quality, organic agricultural products is anticipated to drive further adoption of the integration model, as it aligns with consumer preferences for safety and sustainability [16].

Overview - The potato production in China has steadily increased due to expanding planting scale and improved cultivation techniques, with production rising from 16.45 million tons in 2015 to 17.88 million tons in 2022, and projected to reach approximately 19.09 million tons in 2024, accounting for 62.4% of total tuber production [1][10] - The market demand for potatoes is also growing, with consumption expected to rise from 16.87 million tons in 2020 to 17.43 million tons in 2024, driven by dietary structure upgrades and health consciousness among urban and rural residents [1][10] Industry Development - The history of potato cultivation in China spans over 300 years, with significant growth in planting scale since 1961, leading to the establishment of various regional varieties adapted to different climatic and soil conditions [6][9] - The development of the potato industry can be categorized into four phases: slow development, rapid development, comprehensive development, and transformation and upgrading [6] Market Policies - The Chinese government has implemented a series of supportive policies to promote agricultural development, including initiatives for rural revitalization, digital commerce, and smart agriculture, creating a favorable environment for the potato industry [7] Industry Chain - The potato industry chain includes upstream sectors such as breeding, agricultural fertilizers, and machinery; midstream focuses on potato cultivation; and downstream encompasses consumption markets, which are primarily for food and processing [8] - In 2024, food consumption accounted for 41.7% and processing consumption for 32.4% of total potato consumption, highlighting the importance of potatoes in various industries [8] Current Status - In 2022, the potato planting area in China reached 4.535 million hectares, representing 63.1% of the total tuber planting area, with projections for 2024 indicating a slight decrease to approximately 4.394 million hectares [9][10] - The planting regions are categorized into four areas based on climatic conditions: Northern single-crop area, Southwest mixed-crop area, Central plain intercropping area, and Southern winter-crop area [9] Competitive Landscape - The potato industry in China is characterized by a large number of participants, primarily small and medium-sized enterprises, with notable companies including Gansu Yasheng Industrial Group, China Agricultural Development Seed Industry Group, and Dunhuang Seed Industry Group [11] - Gansu Yasheng reported a revenue of 4.192 billion yuan in 2024, with potato business revenue contributing 2.09 million yuan, accounting for 4.98% of total revenue [12] Future Trends - The potato industry is expected to focus on sustainable development, emphasizing organic farming, crop rotation, and reduced use of chemical fertilizers and pesticides [12] - The Belt and Road Initiative is anticipated to open new international market opportunities for the potato industry, particularly in Central Asia for seed potato exports [12]

Core Insights - The company reported a net profit loss in Q3 due to decreased profits from specialized grain order business, marking a significant decline in revenue for three consecutive quarters [2] Financial Performance - For the first three quarters, the company achieved revenue of 3.677 billion yuan, a year-on-year increase of 21.66%, while the net profit attributable to shareholders was 61.98 million yuan, up 11.95% year-on-year [2] - In Q3 alone, the company recorded revenue of 761 million yuan, a year-on-year decrease of 27.52% and a quarter-on-quarter decline of 43.46%, with a net profit of -1.06 million yuan, indicating a shift from profit to loss both year-on-year and quarter-on-quarter [2] Industry Context - The domestic seed industry has been under pressure, with the company experiencing its first revenue decline in nearly four years last year and a second consecutive year of net profit decline [3] - In response to industry challenges, companies are increasing R&D investments, particularly in the transgenic sector, with the company accelerating the development of transgenic corn and soybean varieties [3] - The company's R&D expenses increased to 63.39 million yuan in the first nine months, compared to 47.26 million yuan in the same period last year [3] - Competitors such as Longping High-Tech, Dabeinong, and Denghai Seeds have made faster progress in transgenic development, having multiple varieties approved, raising questions about the company's ability to capture market share in future transgenic commercialization [3]

Core Viewpoint - The company announced that it has no overdue external guarantees, indicating a stable financial position and risk management strategy [1] Company Summary - The announcement was made on the evening of October 30, confirming that there are no overdue external guarantees associated with the company [1]

Core Viewpoint - The company reported a significant increase in revenue and net profit for the first three quarters of 2025, indicating strong financial performance and growth potential in the agricultural sector [1] Financial Performance - The total operating revenue for the first three quarters reached 3.677 billion yuan, representing a year-on-year growth of 21.66% [1] - The net profit attributable to shareholders was 61.9819 million yuan, showing an increase of 11.95% compared to the previous year [1] - The basic earnings per share stood at 0.06 yuan [1]

关于召开 2025 年第三季度业绩说明会的公告 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： 投资者可于 2025 年 11 月 20 日 （星期四） 至 11 月 26 日 （星期三）16:00 前登录上证路演中心网站首页点击"提问预征集"栏目或通过公司邮箱 （zhongnongfazhongye@163.com）进行提问。公司将在说明会上对投资者普遍关 注的问题进行回答。 中农发种业集团股份有限公司（以下简称"公司"）已于 2025 年 10 月 31 日发布公司 2025 年第三季度报告，为便于广大投资者更全面深入地了解公司 2025 年第三季度经营成果、财务状况，公司计划于 2025 年 11 月 27 日 （星期 四） 10:00-11:00 举行 2025 年第三季度业绩说明会，就投资者关心的问题进行 交流。 一、 说明会类型 本次投资者说明会以网络互动形式召开，公司将针对 2025 年第三季度的经 营成果及财务指标的具体情况与投资者进行互动交流和沟通，在信息披露允许的 范围内就投资者普遍关注的问 ...