自由现金流ETF（159201）成分股聚焦自由现金流充裕的行业龙头，行业覆盖家用电器、汽车、有色金 属、电力设备、石油石化等高壁垒领域，行业分散性显著，有效规避单一行业波动风险，是底仓配置的 有利选择。基金管理年费率0.15%，托管年费率0.05%，均为市场最低费率水平。 （文章来源：每日经济新闻） 10月10日，A股三大指数集体低开，国证自由现金流指数低开后震荡上行，现涨约0.5%。成分股中，国 电南自、联发股份、白银有色涨停，秦安股份、海陆重工、兔宝宝、星湖科技等领涨。相关ETF方面， 同类规模最大的自由现金流ETF（159201）跟随指数上行，成交额率先突破2亿元，交投活跃。 东吴证券认为，传统日历效应下，长假后市场多呈现"涨多跌少"的格局。且今年长假前2个交易日，市 场已出现资金提前博弈反弹的动作，因此后市指数层面需重视量价的配合情况。长假期间，内外部消息 面较积极，尤其是美联储降息预期升温、AI产业趋势催化显著，预计短期内市场风格或偏向具备产业 消息面催化、远期成长属性更强和估值更低的方向。 ...

Core Viewpoint - Xinghuo Technology announced the appointment of Mr. Yan Xiaolin as the new General Manager, as approved by the company's board of directors [2] Company Summary - The board of directors of Xinghuo Technology has officially approved the hiring of Mr. Yan Xiaolin as the General Manager [2]

每经AI快讯，10月9日，星湖科技公告，应军先生因工作调整辞去公司董事、董事会战略发展与ESG委 员会委员及总经理职务，辞职报告自送达公司董事会之日起生效。公司已对接替人选作出安排，由闫晓 林先生接任总经理一职。 ...

截至发稿，星湖科技市值为129亿元。 每经头条（nbdtoutiao）——与美元脱钩后，暴涨102倍，揭秘黄金疯涨背后神秘的"无形之手"！专家： 推动金价上涨的逻辑没有变 （记者 王晓波） 每经AI快讯，星湖科技（SH 600866，收盘价：7.74元）10月9日晚间发布公告称，应军先生因工作调整 辞去公司第十一届董事会董事、董事会战略发展与ESG 委员会委员和公司总经理职务。公司董事会同 意聘任闫晓林先生为公司总经理，任期自本次董事会会议审议通过之日起至公司第十一届董事会届满之 日止。 2024年1至12月份，星湖科技的营业收入构成为：食品及饲料添加剂占比92.2%，其他业务占比3.6%， 有机肥料占比2.23%，化学药品原药制造业占比1.97%。 ...

证券代码：600866 证券简称：星湖科技 公告编号：临 2025-051 广东肇庆星湖生物科技股份有限公司 关于公司董事、总经理辞职暨聘任总经理的公告 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。 一、关于董事、总经理离任情况 二、关于总经理聘任情况 根据公司经营需要，经公司董事会提名，并经董事会提名委员会 审核通过，公司于 2025 年 10 月 9 日召开第十一届董事会第十四次会 议，审议通过了《关于聘任公司总经理的议案》。公司董事会同意聘 任闫晓林先生（简历附后）为公司总经理，任期自本次董事会会议审 议通过之日起至公司第十一届董事会届满之日止；同时免去闫晓林先 生的副总经理职务。 特此公告。 广东肇庆星湖生物科技股份有限公司董事会 2025 年 10 月 10 日 广东肇庆星湖生物科技股份有限公司（以下简称"公司"）董事 会于近日收到公司董事、总经理应军先生的辞职报告，应军先生因工 作调整辞去公司第十一届董事会董事、董事会战略发展与 ESG 委员会 委员和公司总经理职务。辞职报告自送达公司董事会之日起生效。 （一）提 ...

Company Overview - Star Lake Technology, established on April 18, 1992, and listed on August 18, 1994, is located in Zhaoqing, Guangdong Province. The company specializes in the research, production, and sales of food additives, feed additives, chemical raw materials, and pharmaceutical intermediates [1]. Financial Performance - For the first half of 2025, Star Lake Technology reported a revenue of 8.16 billion yuan, a year-on-year decrease of 3.85%. However, the net profit attributable to shareholders increased by 65.22% to 836 million yuan [2]. - The company has cumulatively distributed 1.57 billion yuan in dividends since its A-share listing, with 1.26 billion yuan distributed over the past three years [3]. Stock Performance - As of September 30, Star Lake Technology's stock price increased by 2.01% to 7.61 yuan per share, with a total market capitalization of 12.644 billion yuan. The stock has risen by 24.96% year-to-date [1]. - The stock's trading volume on September 30 was 124 million yuan, with a turnover rate of 1.31% [1]. Shareholder Structure - As of June 30, 2025, the number of shareholders decreased by 7% to 44,800, while the average circulating shares per person increased by 7.53% to 24,754 shares [2]. - Among the top ten circulating shareholders, Hong Kong Central Clearing Limited is the third-largest, holding 36.2164 million shares, an increase of 25.2508 million shares from the previous period [3].

关于参加 2025 年广东辖区上市公司投资者网上集体 接待日活动的公告 证券代码：600866 证券简称：星湖科技 公告编号：临 2025-050 广东肇庆星湖生物科技股份有限公司 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： 广东肇庆星湖生物科技股份有限公司（以下简称"公司"）已于 2025 年 8 月 28 日披露了公司《2025 年半年度报告》，为进一步加强 与投资者的互动交流，公司将参加由广东证监局、广东上市公司协会 于 2025 年 9 月 19 日（星期五）下午 15:30-17:00 联合举办的"向新 提质 价值领航"2025 年广东辖区上市公司投资者网上集体接待日活 动，就投资者关心的问题进行交流。 一、会议主题 本次活动以网络互动形式召开，公司将针对 2025 年半年度的经 营成果及财务指标、公司治理、发展战略等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题进 行回答。 二、召开的时间、地点 会议召开时间：2025 年 9 月 19 日(星期五)下午 1 ...

Core Insights - The development of the silage feed additive industry in China began in the early 1980s, lagging behind developed countries in Europe and America [1] - The industry has entered a rapid growth phase since the 21st century, driven by the increasing level of intensive farming and the maturation of the silage feed industrial system [1] - The market size of the silage feed additive industry in China was approximately 21.44 billion yuan in 2020, recovering from a decline due to African swine fever in 2019 [1] - In 2023, the market size experienced a year-on-year decline of 4.93% due to factors such as adjustments in pig production capacity and low breeding efficiency [1] - The industry is expected to stabilize in 2024, with a projected market size of around 31.55 billion yuan [1] Industry Overview - Silage feed additives are designed to inhibit the growth of harmful microorganisms, reduce nutrient loss, and ensure fermentation effectiveness [7] - The industry chain includes upstream raw materials, midstream product development and production, and downstream applications in livestock farming [7] - The main types of silage feed additives used in China include fermentation promoters, fermentation inhibitors, and nutritional additives [7] Market Trends - The silage feed additive industry is expected to focus on green development, emphasizing the use of natural plant extracts and probiotics to reduce chemical residues and environmental pollution [14] - Functional innovation will be a key trend, with a focus on developing multi-functional additives that improve fermentation quality and enhance animal health [15] - The industry will pursue higher efficiency and precision through technological upgrades, aiming for optimized application and reduced costs [16] Key Companies - Major companies in the silage feed additive industry include Xinghuo Technology, Ruipu Biological, Yidoli, Tiankang Biological, and New Hope [2] - Xinghuo Technology specializes in bio-fermentation and chemical synthesis, with a focus on food and feed additives [12] - Yidoli is a biotechnology company engaged in the research and production of biological enzymes and plant extracts for animal nutrition [13]

Summary of Key Points Core Viewpoint - The company, Guangdong Zhaoqing Xinghuo Biotechnology Co., Ltd., has made significant decisions regarding its financial strategies and governance structure during its recent board and shareholder meetings, focusing on risk management and operational efficiency [2][3][4]. Group 1: Trading Information - As of September 15, 2025, Xinghuo Technology's stock closed at 7.57 yuan, down 0.66%, with a turnover rate of 1.42% and a trading volume of 178,200 shares, amounting to a total transaction value of 135 million yuan [1]. - On the same day, the net inflow of main funds was 9.03 million yuan, accounting for 6.68% of the total transaction value, while retail investors experienced a net outflow of 13.92 million yuan, representing 10.3% of the total transaction value [1][4]. Group 2: Board Meeting Resolutions - The company's board of directors held its 13th meeting on September 15, 2025, with all 9 directors present, where they approved the adjustment of corn futures hedging transactions and revisions to internal control systems, with unanimous support [2][3]. - The board also approved a series of amendments to the company's articles of association and governance rules, including the cancellation of the supervisory board and the establishment of a shareholder return plan for the next three years (2025-2027) [3][4]. Group 3: Shareholder Meeting Outcomes - The 2025 second extraordinary general meeting of shareholders was held on September 15, 2025, with 314 participants representing 862,318,154 shares, which is 51.9008% of the total share capital [3]. - All seven proposals presented at the meeting were approved, including the cancellation of the supervisory board and amendments to various governance rules, with the first three proposals requiring a two-thirds majority [3]. Group 4: Hedging Strategy Adjustments - The company announced adjustments to its corn futures hedging strategy, allowing for both on-exchange and off-exchange options trading, limited to option buying to mitigate operational risks from corn price fluctuations [3][4]. - The maximum margin for these transactions is set at 50 million yuan, corresponding to a contract value limit of 500 million yuan, funded by the company's own resources, with a trading period not exceeding 12 months [3].

广东肇庆星湖生物科技股份有限公司 期货和衍生品套期保值业务内部控制制度 （2025 年修订） 第一章 总则 第一条 为充分发挥期货和衍生品套期保值功能，规范广东肇庆 星湖生物科技股份有限公司（以下简称"本公司"或"公司"）期货 和衍生品套期保值业务，有效控制和防范期货和衍生品套期保值风险， 根据《中华人民共和国期货和衍生品法》《上海证券交易所上市公司 自律监管指引第 5 号——交易与关联交易》、国务院国资委《关于切 实加强金融衍生业务管理有关事项的通知》《关于进一步加强金融衍 生业务管理有关事项的通知》等相关法律法规及《广东肇庆星湖生物 科技股份有限公司章程》（以下简称《公司章程》）的规定，结合公 司实际情况，制定本制度。 第二条 公司开展期货和衍生品业务仅限于期货和衍生品套期 保值业务，不得从事以投机为目的期货和衍生品交易。 第三条 本制度所述期货交易是指在境内外合规的商品期货交 易场所以期货合约或者标准化期权合约为交易标的的交易活动。本制 度所述衍生品交易是指期货交易以外的，以互换合约、远期合约和非 标准化期权合约及其组合为交易标的的交易活动。期货和衍生品的基 础资产既可以是证券、指数、利率、汇率、货币、 ...