Financial Performance - The company's operating revenue for the first half of 2024 reached ¥8,486,338,979.59, an increase of 2.66% compared to ¥8,266,438,872.37 in the same period last year[14]. - Net profit attributable to shareholders of the listed company was ¥506,169,600.07, representing a significant increase of 119.91% from ¥230,169,769.28 in the previous year[14]. - The net profit after deducting non-recurring gains and losses was ¥534,309,700.78, up 128.03% from ¥234,310,872.27 year-on-year[14]. - Basic earnings per share for the reporting period was ¥0.3047, a 120.00% increase from ¥0.1385 in the same period last year[15]. - The weighted average return on net assets increased to 6.56%, up 3.28 percentage points from 3.28% in the previous year[15]. - The company's total assets at the end of the reporting period were ¥14,905,316,450.64, an increase of 3.62% compared to ¥14,384,585,770.83 at the end of the previous year[14]. - The net cash flow from operating activities was ¥449,789,290.38, a decrease of 3.73% from ¥467,204,994.75 in the same period last year[14]. - The company reported a non-recurring loss of ¥28,140,100.71, primarily due to fair value changes in financial assets and liabilities, which resulted in a loss of ¥37,043,856.14[17]. - The company’s financial performance is influenced by government subsidies, with ¥5,227,674.63 recognized in the current period, excluding those related to normal business operations[17]. Market and Industry Insights - The company operates in the food manufacturing industry, specifically in the production of amino acids, flavor enhancers, and other bio-fermentation products, utilizing corn as the main raw material[18]. - The company anticipates further technological breakthroughs in the bio-fermentation industry, particularly in amino acid production, which will lower production costs and expand profit margins[21]. - The global supply of amino acids saw a slight increase in production in the first half of 2024, driven by new capacity in China and a significant rise in export demand[22]. - The company is positioned to benefit from national policies promoting the reduction of soybean meal in animal feed, aiming for a decrease of 0.5 percentage points annually until 2025[19]. - The company has strong R&D capabilities in microbial strains and large-scale fermentation processes, enhancing its market competitiveness[18]. - In the first half of 2024, domestic lysine consumption increased slightly year-on-year, while overseas demand surged, with lysine export volume up approximately 10% and threonine export volume up about 20%[24]. - The average market price of lysine hydrochloride increased by 13.81% year-on-year, while the average price of valine decreased by 41.84%[25]. - Raw material prices, including corn and liquid ammonia, decreased compared to 2023, leading to a significant reduction in amino acid production costs[26]. Operational Developments - The company is investing in a new corn deep processing production line with a capacity of 600,000 tons, which will enhance its product structure and production capacity[29]. - The company has established 16 technology innovation platforms, including 4 national-level R&D platforms, to maintain its technological advantage in the industry[32]. - The company implemented a marketing digitalization project, developing a CRM system to standardize business processes and enhance management efficiency[38]. - Research and development efforts led to significant breakthroughs in production technology for key products, enhancing production capacity and reducing costs[39]. - The company is focusing on the integration of Star Lake Technology and Yipin Bio, establishing a foundation for comprehensive organizational and strategic integration[36]. Financial Position and Investments - The company reported a 27.70% increase in long-term borrowings to CNY 2,243,917,931.29, aimed at adjusting the borrowing structure[44]. - The company made a total capital increase of CNY 780 million to its subsidiaries during the reporting period[47]. - The company established new subsidiaries for a corn deep processing project with a registered capital of CNY 103,275,000[49]. - The company’s overseas assets amounted to CNY 470,122,099.25, accounting for 3.15% of total assets[45]. - The company plans to invest CNY 3.712 billion in a 600,000-ton corn deep processing and cogeneration project in Xinjiang, with a cumulative investment of CNY 61 million as of the report date[51]. Environmental and Sustainability Efforts - The company has established a high-standard environmental protection management system but faces risks related to potential environmental accidents and stricter regulations[58]. - The company achieved stable compliance with environmental discharge standards, with SO2 emissions from the biological engineering base controlled at 2 mg/m³ against a standard of 35 mg/m³, resulting in a total discharge of 0.12 tons[64]. - The company’s wastewater discharge of CODcr was controlled at 15 mg/L, with a total discharge of 5 tons, against an allowed total of 175 tons per annum[64]. - The company has implemented a comprehensive waste management strategy, ensuring all industrial solid waste is fully utilized and hazardous waste is handled by qualified entities[68]. - The company is committed to sustainable development, integrating economic growth with environmental protection initiatives[68]. Shareholder and Corporate Governance - The company has committed to ensuring the independence of its personnel, assets, business, finance, and organization post-transaction completion[93]. - The company guarantees that its senior management will not hold positions outside the company, ensuring full dedication to its operations[93]. - The company will ensure fair and reasonable pricing in any transactions related to its business operations[92]. - The company has committed to not seeking control over the board of Xinghuo Technology and will cooperate with Guangxin Group to maintain its control[101]. - The company has not reported any major litigation or arbitration matters aside from the ongoing patent case[103]. Future Outlook - Future performance guidance indicates a focus on increasing operational efficiency and enhancing product offerings[159]. - The company is actively pursuing new product development initiatives to drive growth and market share[159]. - The company plans to expand its market presence through strategic acquisitions and investments in new technologies[159].

证券代码：600866 证券简称：星湖科技 公告编号：临 2024-035 广东肇庆星湖生物科技股份有限公司 股东集中竞价减持股份结果暨权益变动超过 1%的 提示性公告 本公司董事会、全体董事及相关股东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： 股东持股的基本情况 本次集中竞价减持计划实施前，广东肇庆星湖生物科技股份有限公司（以下 简称"公司"或"星湖科技"）持股 5%以上股东宁夏伊品投资集团有限公司（以 下简称"伊品集团"）及其一致行动人铁小荣合计持有公司 327,088,410 股，占 公司总股本的 19.69%，其所持股份全部来源于发行股份购买资产取得。其中：伊 品集团持有公司 199,479,009 股股份，占有公司总股本的 12.01%；铁小荣持有 公司 127,609,401 股，占有公司总股本的 7.68%。 集中竞价减持计划的实施结果情况 2024 年 5 月 15 日，公司披露了《关于持股 5%以上股东集中竞价减持股份 计划的公告》（公告编号：临 2024-025）。 2024 年 8 月 2 日，公司收到伊品 ...

Investment Rating and Target Price - The report initiates coverage with a "Buy" rating and a target price of RMB 7.56 [1] Core Views - The company is a global leader in the amino acid industry, with annual production capacities of 800,000 tons for lysine and 268,000 tons for threonine, ranking second globally in both categories [3][8] - The company is expected to benefit from the growing demand for amino acids as a substitute for soybean meal, driven by food security concerns and the potential cost reduction from the adoption of genetically modified corn [3][8] - The company is expanding into synthetic biology, with plans to produce small-scale amino acids and bio-based nylon, which could drive future growth [8][33] - The integration of Yipin Bio is showing positive results, and the company's high dividend payout ratio of 93% in 2023, along with synergies from its parent group, could lead to a revaluation of the company [8][9] Industry and Market Dynamics - The amino acid industry is experiencing improved supply-demand dynamics, with leading companies gaining stronger pricing power [4] - The demand for amino acids is expected to grow due to the substitution of soybean meal in animal feed, supported by the recovery in pig prices and export demand [3][8] - The supply side has seen consolidation, with some capacity exiting the market, leading to an optimized industry structure [3] - The company's lysine and threonine production capacities are among the largest globally, giving it significant scale and cost advantages [3][8] Synthetic Biology and New Growth Opportunities - The company is investing in synthetic biology, with plans to build a 600,000-ton corn deep processing production line and a cogeneration project in Xinjiang, aiming to produce small-scale amino acids such as valine, isoleucine, tryptophan, and arginine [9][33] - The company is also developing a full industrial chain for bio-based nylon, including the production of 1,5-pentanediamine (PDA) and PA56, with a planned annual capacity of 10,000 tons [9][33] - The company's focus on synthetic biology could open up new growth opportunities, particularly in small-scale amino acids and bio-based materials [33][35] Financial Performance and Projections - The company's revenue and net profit are expected to grow, with projected net profits of RMB 1.05 billion, RMB 1.29 billion, and RMB 1.46 billion for 2024-2026, respectively [8] - The company's EPS is projected to be RMB 0.63, RMB 0.78, and RMB 0.88 for 2024-2026, respectively [8] - The company's high dividend payout ratio of 93% in 2023 reflects its commitment to shareholder returns [9][14] Competitive Advantages - The company has significant scale and cost advantages in the production of lysine and threonine, with global rankings of second in both categories [3][8] - The company's production bases are located in major corn-producing regions in China, ensuring stable and cost-effective raw material supply [57][77] - The company's integration with Yipin Bio has strengthened its position in the amino acid market, with improved operational efficiency and profitability [9][61] Market Trends and Future Outlook - The adoption of genetically modified corn could further reduce production costs for amino acids, enhancing their competitiveness as a substitute for soybean meal [13][69] - The global demand for amino acids is expected to grow, driven by the increasing use of amino acids in animal feed and the potential for cost reductions through synthetic biology [8][33] - The company's focus on innovation and expansion into new product lines, such as bio-based nylon, positions it well to capitalize on future market trends [33][35] Risks and Challenges - The report does not include specific risk factors, but potential challenges could include fluctuations in raw material prices, changes in regulatory policies, and competition in the amino acid market [8][33]

证券代码：600866 证券简称：星湖科技 公告编号：临 2024-034 广东肇庆星湖生物科技股份有限公司 2024 年第一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 | 1、出席会议的股东和代理人人数 | 23 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 914,220,797 | | 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（%） | 55.0247 | (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。 本次大会采取现场记名投票和网络投票相结合的方式表决，符合《公司法》 及公司章程的规定，大会由公司董事长刘立斌先生主持。 (五) 公司董事、监事和董事会秘书的出席情况 (一) 股东大会召开的时间：2024 年 7 月 15 日 (二) 股东大会召开的地点：广东省肇庆市端州区工农北路 67 号公司会议室 (三) 出席会议的普通股 ...

一、股东及股东代表参加本次股东大会，依法享有发言权、质询 权、表决权等各项权利，应遵守本次大会议事规则，认真履行法定义 务，不得侵犯其他股东的权益，不得扰乱大会的正常秩序。 二、如股东拟在本次股东大会上发言，请提前准备发言意向及要 点，并注明所需要的时间。特别提示：因股东大会时间有限，股东发 言由公司按登记情况统筹安排，公司不能保证所有填写发言意向及要 点的股东均能在本次股东大会上发言。 2024 年 7 月 15 日 2024 年第一次临时股东大会会议资料 | | | | 会议须知 1 | | --- | | 议案一：关于补选公司独立董事的议案 3 | | 议案二：关于子公司向银行申请项目贷款并由公司提供担保的议案 5 | 2024 年第一次临时股东大会会议资料 2024 年第一次临时股东大会会议资料 会议须知 广东肇庆星湖生物科技股份有限公司 2024 年第一次临时股东大会会议资料 为确保各位股东和股东代表依法行使股东权利，保证股东大会的 正常秩序和议事效率，请遵守以下会议须知： 2024 年第一次临时股东大会会议资料 2024 年第一次临时股东大会会议资料 五、请股东和股东代表对本次会议的所有议案予以逐 ...

Financial Performance Forecast - The company expects to achieve a net profit attributable to shareholders of 480-530 million yuan for the first half of 2024, representing an estimated growth of approximately 108.54%-130.26% compared to the same period last year[3]. - The total profit is projected to be between 620-670 million yuan, indicating a year-on-year increase of 110.70%-127.69%[5]. - The net profit after deducting non-recurring gains and losses is anticipated to be 500-550 million yuan, with a growth rate of approximately 113.39%-134.73% compared to the previous year[5]. - The basic earnings per share are expected to be between 0.2889 yuan and 0.3190 yuan, compared to 0.1385 yuan per share in the same period last year[5]. Factors Influencing Profit - The increase in profit is attributed to strong sales volume of the main products, which offset the decline in sales prices due to market conditions[6]. - The company has experienced a decrease in raw material prices and improved production metrics, contributing to lower sales costs and increased profits[6]. Caution and Uncertainties - The financial data provided is preliminary and has not been audited by registered accountants, and investors are advised to exercise caution[7]. - The company has not identified any significant uncertainties that could affect the accuracy of the earnings forecast as of the announcement date[7]. Reporting Period and Disclosure - The performance forecast covers the period from January 1, 2024, to June 30, 2024[4]. - The final and accurate financial data will be disclosed in the official 2024 semi-annual report[8].

1.截至 2024 年 6 月 27 日，公司及公司控股子公司已提供的对 外担保余额占公司最近一期经审计归属于上市公司股东的净资产的 39.87%。 ●本次担保有反担保。 ●截至本公告日，公司无逾期的对外担保。 ● 特别风险提示： 证券代码：600866 证券简称：星湖科技 公告编号：临 2024-031 广东肇庆星湖生物科技股份有限公司 关于子公司向银行申请项目贷款并由公司提供担保 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。 ●被担保人：广东肇庆星湖生物科技股份有限公司（以下简称 "公司"）控股子公司可克达拉金海生物科技有限公司（以下简称 "金海生物"）及其全资子公司可克达拉金海能源有限公司（以下简 称"金海能源"）。 ●担保金额及已实际为其提供的担保余额：拟分别为金海生物 和金海能源不超过 19.2 亿元和 6.81 亿元的 8 年期项目贷款额度提 供全额担保。截至本公告披露日，公司为金海生物和金海能源提供 的对外担保余额为 0 元。 2.公司本次拟担保的对象为新设立公司，均处于筹建阶段，敬 请投资者注意相关 ...

（二）《中华人民共和国公务员法》关于公务员兼任职务的 规定（如适用）； （三）中国证监会《上市公司独立董事管理办法》、上海证 券交易所自律监管规则以及公司章程有关独立董事任职资格和 广东肇庆星湖生物科技股份有限公司 独立董事候选人声明与承诺 本人卢馨，已充分了解并同意由提名人广东肇庆星湖生物科 技股份有限公司董事会提名为广东肇庆星湖生物科技股份有限 公司第十一届董事会独立董事候选人。本人公开声明，本人具备 独立董事任职资格，保证不存在任何影响本人担任广东肇庆星湖 生物科技股份有限公司独立董事独立性的关系，具体声明并承诺 如下： 一、本人具备上市公司运作的基本知识，熟悉相关法律、行 政法规、部门规章及其他规范性文件，具有 5 年以上法律、经济、 会计、财务、管理或者其他履行独立董事职责所必需的工作经验。 本人已经参加证券交易所的独立董事培训并取得证券交易 所认可的相关培训证明材料。 二、本人任职资格符合下列法律、行政法规和部门规章以及 公司规章的要求： （一）《中华人民共和国公司法》关于董事任职资格的规定； 条件的相关规定； （四）中共中央纪委、中共中央组织部《关于规范中管干部 辞去公职或者退（离）休后担任上市 ...

一、被提名人具备上市公司运作的基本知识，熟悉相关法律、 行政法规、规章及其他规范性文件，具有 5 年以上法律、经济、 会计、财务、管理或者其他履行独立董事职责所必需的工作经验。 被提名人已经参加培训并取得证券交易所认可的相关培训 证明材料。 广东肇庆星湖生物科技股份有限公司 独立董事提名人声明与承诺 提名人广东肇庆星湖生物科技股份有限公司董事会，现提名 卢馨为广东肇庆星湖生物科技股份有限公司第十一届董事会独 立董事候选人，并已充分了解被提名人职业、学历、职称、详细 的工作经历、全部兼职、有无重大失信等不良记录等情况。被提 名人已同意出任广东肇庆星湖生物科技股份有限公司第十一届 董事会独立董事候选人（参见该独立董事候选人声明）。提名人 认为，被提名人具备独立董事任职资格，与广东肇庆星湖生物科 技股份有限公司之间不存在任何影响其独立性的关系，具体声明 并承诺如下： 二、被提名人任职资格符合下列法律、行政法规和部门规章 的要求： （一）《中华人民共和国公司法》关于董事任职资格的规定； （二）《中华人民共和国公务员法》关于公务员兼任职务的 规定（如适用）； （三）中国证监会《上市公司独立董事管理办法》、上海证 券交易 ...

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： 一、 召开会议的基本情况 (一) 股东大会类型和届次 2024 年第一次临时股东大会 召开的日期时间：2024 年 7 月 15 日 10 点 30 分 召开地点：广东省肇庆市端州区工农北路 67 号公司会议室 证券代码：600866 证券简称：星湖科技 公告编号：临 2024-032 广东肇庆星湖生物科技股份有限公司 关于召开 2024 年第一次临时股东大会的通知 (五) 网络投票的系统、起止日期和投票时间。 股东大会召开日期：2024年7月15日 本次股东大会采用的网络投票系统：上海证券交易所股东大会网络投票 系统 (二) 股东大会召集人：董事会 (三) 投票方式：本次股东大会所采用的表决方式是现场投票和网络投票相结 合的方式 (四) 现场会议召开的日期、时间和地点 网络投票系统：上海证券交易所股东大会网络投票系统 网络投票起止时间：自 2024 年 7 月 15 日 至 2024 年 7 月 15 日 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 ...