证券代码：600598 证券简称：北大荒 公告编号：2025-009 ●预计 2025 年度日常关联交易事项，需要提交股东大会审议。 ●日常关联交易对公司的影响：关联交易定价遵循公允性原则，不存在损害公司及中小 股东利益的情形。公司主营业务不会因此类交易而对关联方形成依赖，不会对公司的独立性构 成影响。 黑龙江北大荒农业股份有限公司（以下简称："公司"）根据《上海证券交易所 股票上市规则》第六章的相关规定，现对 2025 年日常关联交易总金额进行预计。 一、日常关联交易基本情况 （一）日常关联交易履行的审议程序 本次预计 2025 年度日常关联交易事项，经独立董事专门会议审议通过，全体 独立董事同意提交董事会审议。公司于 2025 年 3 月 27 日召开第七届董事会第二 十八次会议审议通过《关于预计 2025 年度日常关联交易的议案》，公司董事长马 忠峙先生、董事王守江先生、董事高建国先生为关联董事，对此事项回避表决，非 关联董事（独立董事）全票（4 票）赞成通过此事项。此事项尚需提交公司股东大 会审议，公司控股股东北大荒农垦集团有限公司作为关联股东将在股东大会上对 相关议案回避表决。 1 黑龙江北大荒农业 ...

证券代码：600598 证券简称：北大荒 公告编号：2025-007 一、计提资产减值准备的情况说明 为了客观、真实、公允地反映黑龙江北大荒农业股份有限公司（以下简称: "公司"）2024 年年末的财务状况、资产价值以及 2024 年度的经营成果，根据 《企业会计准则》和公司会计政策的相关规定，公司总部及所属分、子公司（全 资和控股子公司）对应收款项、存货及出现减值迹象的固定资产和抵债资产等资 产进行了全面清查、分析和减值测试，本着谨慎性原则，拟计提资产减值准备 7,900.4 万元，包括公司总部计提 5,020 万元；宝泉岭等 4 家农业分公司计提 185.58 万元；北大荒龙垦麦芽有限公司（以下简称："麦芽公司"）计提 1,949 万 元；黑龙江鑫亚经贸有限责任公司（以下简称："鑫亚公司"）计提 162 万元；北 大荒鑫都房地产开发有限公司（以下简称："鑫都公司"）计提 507.18 万元；黑 龙江北有农业科技有限公司（以下简称："北有公司"）计提 76.64 万元。 公司于 2025 年 3 月 27 日召开第七届董事会第二十八次会议，审议通过《关 于计提资产减值准备的议案》。 黑龙江北大荒农业股份有限 ...

李永军表示，希望双方进一步深化合作，加强业务交流，探索农业金融服务新模式、新路径，实现信息 资源共享，开展多元化合作，以金融活水润泽农业现代化。 人民财讯3月20日电，3月20日，北大荒农垦集团党委书记、董事长王兆成与来访的中国农业银行黑龙江 省分行党委书记、行长李永军，围绕双方进一步深化战略合作进行座谈交流。 王兆成说，希望双方在前期交流的基础上进一步拓宽合作的广度和深度，相互促进、共同进步，推动各 项合作举措落地生根，实现银企互利共赢。 ...

人民财讯3月13日电，3月12日，北大荒农垦集团党委书记、董事长王兆成与来访的中国工商银行黑龙江 省分行党委书记、行长刘向明，围绕进一步深化战略合作进行座谈交流。 王兆成表示，希望工商银行黑龙江省分行继续给予北大荒支持和帮助，双方将以全面战略合作关系为基 础，找准业务合作切入点、着力点，深化战略合作关系、拓宽合作领域、提升合作层次，谱写合作共赢 新篇章，为推动龙江高质量发展可持续振兴贡献力量。 刘向明表示，希望双方在良好合作的基础上，进一步加强沟通交流，充分发挥国有银行与国有企业深度 合作的战略优势，积极探索创新合作模式，打造赋能增效的银企合作典范。 ...

证券代码：600598 证券简称：北大荒 公告编号：2024-036 黑龙江北大荒农业股份有限公司 涉诉（仲裁）案件进展公告 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个别及连带责任。 重要内容提示： ●案件所处的诉讼阶段：恢复执行阶段。 ●上市公司所处的当事人地位：黑龙江北大荒农业股份有限公司为本案的原 告。 公司一审判决生效后及时向农垦中院申请强制执行，于 2022 年 5 月、2022 年 7 月相继收到农垦中院送达的案号为（2022）黑 81 执 96 号《执行裁定书》， 提取、查封被执行人龙垦麦芽公司多处资金及资产。（公告编号：2022-023； 2022-032） 1 ●是否会对上市公司损益产生负面影响：公司恢复执行了龙垦麦芽公司的部 分房产，并依法进行拍卖，本次恢复执行案件现已执行完毕。最终影响金额及会 计处理须以注册会计师审计确认后的结果为准，敬请投资者注意投资风险。 黑龙江北大荒农业股份有限公司（以下简称："公司"）于 2024 年 12 月 27 日收到黑龙江省农垦中级法院（以下简称："农垦中院"）作出的(202 ...

Summary of Conference Call Notes Company Overview - The company discussed is Beidahuang Agricultural Group, one of the earliest agricultural listed companies in China, established in 1947 and listed on the Shanghai Stock Exchange in 2020 [2][3] - Beidahuang operates approximately 10.43 million acres of farmland, focusing on land leasing as its core business model, which generates stable rental income [3][4] - The company has undergone significant restructuring since 2014, refocusing on its core agricultural operations and divesting non-agricultural assets [2][3] Industry Context - The agricultural sector in China faces a growing demand-supply gap in arable land, with the total arable land area decreasing from over 2 billion acres in 2009 to approximately 1.9 billion acres in 2022 [6][7] - The government has set a target to maintain a minimum of 1.8 billion acres of arable land by 2030, known as the "18 billion acres red line" [7][8] - The demand for agricultural products is projected to exceed current planting areas by 18% in 2022, potentially increasing to over 22% by 2033 [8] Key Business Insights - Beidahuang's business model is centered around land leasing, which has proven to be low-risk and generates high profit margins [3][4] - The company has a stable ownership structure, with the Ministry of Finance holding approximately 64% of the shares, distinguishing it from other state-owned enterprises [5][6] - The company has maintained a high cash dividend payout ratio of 70% to 90%, reflecting strong cash flow and commitment to shareholder returns [5][6] Competitive Advantages - Beidahuang is positioned as a leading agricultural producer in Heilongjiang, a key grain-producing region in China, which enhances its competitive advantage in securing arable land resources [8][9] - The company has modernized its agricultural services, including the use of advanced machinery and aerial application for crop protection, which supports operational efficiency [4][5] Challenges and Considerations - The agricultural sector's reliance on a dual management system, combining state-owned farms with contracted labor, may lead to resource allocation issues and inefficiencies [10][11] - The ongoing urbanization and land use changes pose challenges to maintaining arable land availability, necessitating innovative agricultural practices and resource management [6][7] Conclusion - Beidahuang Agricultural Group is strategically positioned within a challenging agricultural landscape, leveraging its extensive land resources and modern agricultural practices to drive growth and profitability while navigating industry challenges [2][3][8]

Investment Rating - The report assigns a "Buy" rating for the company with a target price of 18.76 yuan over the next six months, based on a current price of 15.27 yuan [1][42]. Core Insights - The company has shown steady growth in its main business due to the implementation of operational reforms and competitive bidding mechanisms, leading to an increase in land leasing income [2][25]. - The company is positioned as a leading agricultural enterprise in China, benefiting from rich land resources and a favorable geographical location in the world's major black soil belts, which enhances the quality and competitiveness of its agricultural products [2][32]. - The company plans to produce approximately 12 billion jin of high-quality crops, including rice, corn, and soybeans, in 2024, continuing to explore potential in green and organic products [2][32]. Summary by Sections Company Overview - The company, formerly known as Heilongjiang Provincial Agricultural Reclamation Bureau, was restructured in December 2020 and operates in a region with a total land area of 53,600 square kilometers, making it a significant grain production base in China [17][19]. Company Analysis - The company has a total land area of 12.96 million acres, with 11.58 million acres of arable land, and operates 16 agricultural subsidiaries focused on producing major crops [2][32]. - Land rental prices have been increasing in line with rising grain prices, which has positively impacted the company's land leasing business [2][30]. Profit Forecast and Valuation - The report forecasts earnings per share (EPS) for 2024, 2025, and 2026 to be 0.62 yuan, 0.67 yuan, and 0.72 yuan, respectively, with corresponding dynamic price-to-earnings (PE) ratios of 25, 23, and 21 [3][42]. - The company is expected to maintain stable growth in land leasing and agricultural material sales, with projected revenue growth rates of 8% for land leasing and 5% for agricultural materials from 2024 to 2026 [37][41].

证券代码：600598 证券简称：北大荒 公告编号：2024-035 黑龙江北大荒农业股份有限公司 关于召开 2024 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 2024 年 11 月 12 日(星期二)至 11 月 18 日(星期 一)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 sse600598@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。 黑龙江北大荒农业股份有限公司（以下简称"公司"）已于 2024 年 10 月 29 日发布公司 2024 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 2024 年第三季度经营成果、财务状况， 公司计划于 2024 年 11 月 19 日上午 09:00-10:00 举行 2024 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 2024 年第 三季度的经营成果及财务指标的具体情况 ...

Summary of the Conference Call Company Overview - The company reported a revenue of 4.358 billion yuan, representing a year-on-year increase of approximately 10% [1] - Operating profit reached 1.373 billion yuan, with a growth of 4.7% compared to the previous year [1][2] - Net profit attributable to shareholders was 1.347 billion yuan, reflecting a growth of 4.13% [2] Key Financial Insights - Revenue growth was primarily driven by the expansion of land contract loans and improved earnings from land leasing [2] - The profit growth lagged behind revenue growth due to increased social insurance costs resulting from policy changes in Heilongjiang Province [3][4] - Social insurance payment base increased significantly from 54,000 to 82,000, impacting the company's expenses [3][4] Revenue Breakdown - Land contract fees accounted for approximately 2.8 billion yuan, with an 8.9% year-on-year increase [6] - Agricultural services and loans contributed around 1.33 billion yuan [6] - Agricultural inputs and social services generated about 330 million yuan [6] - Sales from grain consumers amounted to 120 million yuan [7] Profit Sources - The main profit sources include land contract fees (90% of total profit), financial management income, and farm operations [8][9] - The company maintains a low debt-to-asset ratio, which is beneficial for financial stability [5] Market and Policy Environment - The company is cautious about potential asset impairments and is monitoring the real estate market closely [11][12] - There is a focus on ensuring that any asset acquisitions or mergers align with the company's strategic goals and financial health [14] Future Outlook - The company anticipates challenges in setting land rental prices due to market trends and potential downward pressure on agricultural prices [23][24] - The management believes that historical data suggests land rental prices are unlikely to decrease significantly [27][28] Risk Management - The company has not engaged in hedging strategies for agricultural products but is focused on maintaining strong supplier relationships and risk management practices [29][30] Additional Notes - The company is actively pursuing the development of its graphite assets and has signed a framework agreement with a mining partner [17] - There are ongoing efforts to manage legal issues related to past investments and potential liabilities [20][21] Conclusion - The conference call highlighted the company's solid financial performance amidst rising costs and market challenges, with a focus on strategic growth and risk management moving forward.

黑龙江北大荒农业股份有限公司 第七届董事会第二十七次会议（临时）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个别及连带责任。 黑龙江北大荒农业股份有限公司（以下简称："公司"）于 2024 年 11 月 8 日召开第七届董事会第二十七次会议（临时），会议通知于 2024 年 11 月 3 日以 专人送达、传真和电子邮件的形式发出，本次会议以通讯方式表决，全部董事均 参加了会议。会议符合《公司法》及《公司章程》的有关规定，会议的召开及议 案事项合法有效。本次会议决议通过以下议案： 证券代码：600598 证券简称：北大荒 公告编号：2024-033 同意 7 票，反对 0 票，弃权 0 票。 一、关于选举董事长的议案 选举马忠峙先生为公司第七届董事会董事长，不再担任总经理职务，任期与 第七届董事会保持一致。 同意 7 票，反对 0 票，弃权 0 票。 二、关于拟聘任张允海先生为总经理的议案 经公司董事会提名委员会建议，聘任张允海先生为公司总经理，任期与第七 届董事会保持一致。 本议案，经公司第七届董事会提名委员会 2024 年 ...