中炬高新技术实业（集团）股份有限公司（以下简称：公司）于 2025 年 9 月 15 日召开 2025 年第三次临时股东会，审议通过了《关 于减少公司注册资本的议案》。公司对已获授但尚未解除限售的共计 481,978 股限制性股票进行回购注销，并需对应减少公司的注册资本。 目前，公司已完成了上述注册资本变更的工商登记及《公司章程》 的备案手续，并于近日领取了中山市市场监督管理局换发的《营业执 照》，公司注册资本由 778,991,206 元变更为人民币 778,509,228 元。 证券代码：600872 证券简称：中炬高新 公告编号：2025-066 中炬高新技术实业（集团）股份有限公司 关于完成注册资本变更登记 并换发营业执照的公告 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。 除以上变更外，原营业执照其他登记项目未发生变更。 特此公告。 中炬高新技术实业（集团）股份有限公司董事会 2025 年 11 月 12 日 ...

Core Viewpoint - The legal opinion regarding the 2025 Fourth Extraordinary General Meeting of Zhongju High-tech Industrial (Group) Co., Ltd. confirms that the meeting's procedures, participant qualifications, and voting processes comply with relevant laws and regulations, ensuring the legitimacy of the resolutions passed [3][17][26]. Group 1: Meeting Procedures - The meeting was convened by the company's board of directors based on a resolution passed on October 24, 2025, and the notice was published 15 days in advance [3][4]. - The meeting took place on November 11, 2025, at a specified location, combining on-site and online voting methods [5][22]. - The notice included details such as the meeting time, location, voting methods, and agenda items [3][6]. Group 2: Attendance and Voting - A total of 548 participants attended the meeting, representing 213,251,683 shares, which is 27.5189% of the total voting shares [7]. - An additional 544 shareholders participated via online voting, representing 213,211,231 shares, or 27.5137% of the total voting shares [7]. - The qualifications of all attendees, including shareholders and proxies, were verified and deemed valid [8][9]. Group 3: Resolutions and Voting Results - The meeting reviewed three main proposals, all of which were consistent with the agenda published in the notice [10][16]. - The proposal to appoint Li Junwei as a non-independent director was approved with 210,302,591 votes in favor, accounting for 98.6170% of the valid votes [12][13]. - The revised "Zhongju High-tech Board Meeting Rules" and "Implementation Rules for Cumulative Voting System" were also approved with significant majorities of 97.2700% and 97.2769%, respectively [14][15]. Group 4: Legal Opinion - The legal opinion confirms that the meeting's convening, procedures, participant qualifications, and voting results are all in compliance with the Company Law and relevant regulations [17][26]. - The resolutions passed during the meeting are considered legally valid and effective [17][26].

广东卓建(中山)律师事务所 Z H U O J I A N ( Z H O N G S H A N ) L A W F I R M 关于 中炬高新技术实业（集团）股份有限公司 二〇二五年第四次临时股东会的 地址:中国广东省中山市东区东苑南路 101 号大东裕贸联大厦北塔 2 号 27 楼 2709、 2710 卡 法律意见书 广东卓建（中山）律师事务所 关于中炬高新技术实业（集团）股份有限公司 二〇二五年第四次临时股东会的 法律意见书 致:中炬高新技术实业(集团)股份有限公司 广东卓建(中山)律师事务所(以下简称"卓建")接受中炬高新技术实业(集 团）股份有限公司（以下简称"公司"）的委托,指派律师（以下简称"本所律师"） 出席公司2025年第四次临时股东会（以下简称"本次股东会"），并根据《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》"）、《上市公司股东会规则》等法律、法规、规范性文件以 及现行有效的《中炬高新技术实业(集团)股份有限公司章程》（以下简称"《公 司章程》"）的规定,在进行必要验证工作的基础上,对公司本次股东会的召集、 召开程序、出席会议 ...

证券代码：600872 证券简称：中炬高新 公告编号：2025-065 中炬高新技术实业（集团）股份有限公司 2025年第四次临时股东会决议公告 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)股东会召开的时间：2025 年 11 月 11 日 (四)表决方式是否符合《公司法》及《公司章程》的规定，股东会主持情况等。 本次股东会由公司董事会召集，董事长黎汝雄先生主持会议。本次会议采取 现场投票和网络投票相结合方式表决，符合《公司法》及《公司章程》的相关规 定。 (五)公司董事和董事会秘书的出席情况 二、 议案审议情况 (一)非累积投票议案 1、 议案名称：关于增补李军威先生为第十一届董事会非独立董事的议案 审议结果：通过 表决情况： | 股东类型 | 同意 | | 反对 | | 弃权 | | | --- | --- | --- | --- | --- | --- | --- | | | 票数 | 比例 | 票数 | 比例 | 票数 | 比例 | | | ...

Market Overview - The seasoning and fermentation sector increased by 0.15% on November 11, with Zhu Laoliu leading the gains [1] - The Shanghai Composite Index closed at 4002.76, down 0.39%, while the Shenzhen Component Index closed at 13289.0, down 1.03% [1] Stock Performance - Zhu Laoliu (code: 920726) saw a significant rise of 29.97%, closing at 26.15 with a trading volume of 159,300 shares and a turnover of 367 million yuan [1] - Other notable performers included: - Richen Co. (code: 603755) up 2.47%, closing at 38.18 with a turnover of 106 million yuan [1] - Anji Food (code: 603696) up 2.22%, closing at 14.26 with a turnover of 539 million yuan [1] - ST Jiajia (code: 002650) up 2.21%, closing at 7.40 with a turnover of approximately 7.93 million yuan [1] Capital Flow - The seasoning and fermentation sector experienced a net inflow of 19.65 million yuan from institutional investors, while retail investors saw a net inflow of 23.39 million yuan [2] - However, speculative funds recorded a net outflow of 43.04 million yuan [2] Individual Stock Capital Flow - Lianhua Holdings (code: 600186) had a net inflow of 52.83 million yuan from institutional investors, while it faced a net outflow of 21.91 million yuan from speculative funds [3] - Hengshun Vinegar (code: 600305) saw a net inflow of 9.28 million yuan from institutional investors, with a net outflow of 12.13 million yuan from speculative funds [3] - Tianwei Food (code: 603317) experienced a net outflow of 2.03 million yuan from institutional investors, but a net inflow of 12.81 million yuan from retail investors [3]

Core Viewpoint - Zhongju High-tech experienced a stock price increase of 2.03% on November 10, 2023, with a current price of 18.64 CNY per share and a total market capitalization of 14.511 billion CNY [1] Financial Performance - For the period from January to September 2025, Zhongju High-tech reported a revenue of 3.156 billion CNY, representing a year-on-year decrease of 20.01%, and a net profit attributable to shareholders of 380 million CNY, down 34.07% year-on-year [2] - Cumulative cash dividends since the A-share listing amount to 2.413 billion CNY, with 632 million CNY distributed over the last three years [3] Shareholder Information - As of September 30, 2025, the number of shareholders for Zhongju High-tech was 64,900, a decrease of 4.54% from the previous period, with an average of 11,884 circulating shares per shareholder, an increase of 4.76% [2] - The second-largest circulating shareholder is Hong Kong Central Clearing Limited, holding 36.1121 million shares, a decrease of 10.7481 million shares from the previous period [3]

Market Overview - The seasoning and fermentation sector increased by 0.56% compared to the previous trading day, with ST Jiajia 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 - ST Jiajia (002650) closed at 7.20, up 1.98% with a trading volume of 85,900 shares and a turnover of 61.65 million yuan [1] - Qianhe Flavor (603027) closed at 9.75, up 1.67% with a trading volume of 306,200 shares and a turnover of 301 million yuan [1] - Anji Food (603696) closed at 13.55, up 1.42% with a trading volume of 319,900 shares and a turnover of 427 million yuan [1] - Other notable stocks include Tianwei Food (603317) at 12.53 (+1.05%), Haidilao (603288) at 37.97 (+0.69%), and Zhongju Gaoxin (600872) at 18.27 (+0.50%) [1] Capital Flow - The seasoning and fermentation sector experienced a net outflow of 75.19 million yuan from institutional investors, while retail investors saw a net inflow of 98.49 million yuan [2] - The overall capital flow indicates a mixed sentiment, with institutional investors pulling back while retail investors are more active [2] Individual Stock Capital Flow - Zhongju Gaoxin (600872) had a net inflow of 7.39 million yuan from institutional investors, while retail investors contributed a net inflow of 972.95 million yuan [3] - Qianhe Flavor (603027) saw a net inflow of 7.27 million yuan from institutional investors, but a net outflow of 910.75 million yuan from retail investors [3] - ST Jiajia (002650) experienced a net outflow of 120,100 yuan from institutional investors, with retail investors contributing a net inflow of 250.36 million yuan [3]

Core Insights - The soy sauce market in China is experiencing a cooling trend, with significant performance differentiation among leading companies [2][4] Group 1: Company Performance - Haitian Flavor Industry (海天味业) is the only company to achieve both revenue and net profit growth in the first three quarters, with revenue of 21.628 billion yuan, up 6.02%, and net profit of 5.322 billion yuan, up 10.54% [2][3] - Zhongju High-tech (中炬高新) reported its largest revenue decline since 2016, with revenue of 3.156 billion yuan, down 20.01%, and net profit of 380 million yuan, down 34.07% [2][3] - ST Jiajia (ST加加) remains in a loss position, with revenue of 1.009 billion yuan, down 2.65%, and a net loss of 18.0368 million yuan [3][5] Group 2: Market Trends - The soy sauce market is projected to reach 104.1 billion yuan by 2024, with a five-year compound annual growth rate of only 2.3%, lower than the overall seasoning industry growth rate of 4.5% [3][4] - The industry is facing a "Matthew Effect," where stronger companies continue to dominate, making it challenging for others to find new growth points in a saturated market [1][4] Group 3: Strategic Initiatives - Haitian Flavor Industry plans to use 20% of its fundraising for overseas market expansion, starting with Southeast Asia, where a production base in Indonesia is under construction [4][5] - Zhongju High-tech is enhancing its marketing efforts by signing celebrity endorsements and increasing the number of distributors, although this has led to rising sales expenses [4][5] - ST Jiajia is focusing on a "low-salt strategy" and has developed new low-salt products, but its recent change in ownership structure adds uncertainty to its future [5]

Core Insights - The seasoning and fermentation sector saw a 0.37% increase on November 6, with Angel Yeast leading the gains [1] - The Shanghai Composite Index closed at 4007.76, up 0.97%, while the Shenzhen Component Index closed at 13452.42, up 1.73% [1] Stock Performance - Angel Yeast (600298) closed at 38.44, up 2.97% with a trading volume of 93,800 shares and a turnover of 360 million yuan [1] - Tianwei Food (603317) closed at 12.40, up 2.06% with a trading volume of 81,800 shares and a turnover of 101 million yuan [1] - Qianhe Flavor (603027) closed at 65.6, up 1.37% with a trading volume of 182,500 shares and a turnover of 176 million yuan [1] - ST Jiajia (002650) closed at 7.06, up 0.57% with a trading volume of 49,900 shares and a turnover of 35.3 million yuan [1] - Other notable stocks include: - Jialong Co. (002495) at 2.82, up 0.36% [1] - Fuling Pickles (002507) at 13.32, up 0.30% [1] - Zhongju Gaoxin (600872) at 18.18, up 0.22% [1] - Hengshun Vinegar (600305) at 8.15, up 0.12% [1] - Haitian Flavor (603288) at 37.71, up 0.05% [1] - Anji Food (603696) at 13.36, down 0.15% [1] Capital Flow - The seasoning and fermentation sector experienced a net outflow of 142 million yuan from institutional investors, while retail investors saw a net inflow of 124 million yuan [2] - The detailed capital flow for key stocks includes: - Anji Food (603696) saw a net inflow of 6.38 million yuan from institutional investors [3] - ST Jiajia (002650) had a net inflow of 5.95 million yuan from retail investors [3] - Tianwei Food (603317) experienced a net outflow of 5.04 million yuan from institutional investors [3] - Angel Yeast (600298) had a net outflow of 8.27 million yuan from institutional investors [3]

Core Points - The company announced the repurchase and cancellation of 481,978 restricted stocks due to changes in the eligibility of incentive plan participants [1] - The cancellation is a result of two individuals leaving voluntarily, two individuals terminating contracts through negotiation, and three individuals retiring [1] - The cancellation date for the stocks is set for November 10, 2025 [1] Summary by Category Company Actions - The company will repurchase and cancel a total of 481,978 restricted stocks that were granted but not yet released from restrictions [1] - The decision is based on the departure of several individuals from the incentive plan [1] Incentive Plan Changes - Two individuals left the company voluntarily, two had their contracts terminated through mutual agreement, and three retired, leading to their ineligibility for the incentive plan [1] - The company is adhering to relevant regulations regarding the adjustment of the incentive plan participants [1]