李锦林先生在担任公司副总经理期间，恪尽职守、勤勉尽责，为公司的发展 做出了较大贡献,公司董事会对李锦林先生在任职公司副总经理期间为公司做出 的贡献表示衷心感谢。 特此公告。 湖南新五丰股份有限公司董事会 2024 年 5 月 15 日 1 证券代码：600975 证券简称：新五丰 公告编号：2024-018 湖南新五丰股份有限公司 关于李锦林先生辞去公司副总经理职务的公告 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。 湖南新五丰股份有限公司（以下简称"公司"）董事会于近日收到公司副总 经理李锦林先生的书面辞职报告。李锦林先生因个人原因辞去公司副总经理职 务，公司另有任用。 ...

Investment Rating - The report maintains a "Recommended" rating for the company [5][13]. Core Views - The company reported a revenue of 5.63 billion yuan in 2023, representing a year-on-year growth of 12.5%. However, it incurred a net loss attributable to shareholders of 1.20 billion yuan, a significant decline of 1,448.7% compared to the previous year [5]. - The company has shown a rapid increase in pig production, with a total of 3.20 million pigs sold in 2023, marking a 75.2% increase year-on-year. The company is strategically expanding its production capacity and has established a strong presence in the Hunan province and surrounding regions [5]. - The company has significantly enhanced its feed self-sufficiency, with feed sales increasing by 156.8% in Q1 2024. Several feed production projects have been launched, contributing to the overall growth in production capacity [5]. - The company raised 1.55 billion yuan through a private placement in 2023, which will strengthen its breeding system and enhance its operational capabilities in the pig farming industry [5]. - The forecasted net profits for 2024-2026 are expected to be 312 million yuan, 623 million yuan, and 893 million yuan respectively, with corresponding EPS of 0.25 yuan, 0.49 yuan, and 0.71 yuan [5]. Financial Forecast and Indicators - The projected revenue for 2024 is 9.78 billion yuan, with a growth rate of 73.6%. The net profit is expected to recover to 312 million yuan, with a significant growth rate of 126.0% [5]. - The company’s PE ratio is projected to decrease from 35 in 2024 to 12 in 2026, indicating an improving valuation as profitability increases [5]. - The company’s total assets are expected to grow from 12.66 billion yuan in 2023 to 15.46 billion yuan in 2026, reflecting a solid growth trajectory [5].

2024 年 1-3 月主要经营数据公告 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。 湖南新五丰股份有限公司（以下简称"公司"）2024 年 1-3 月主要经营数据 公告如下： | 主要产品 | 生产量 | 销售量 | 库存量 | 生产量比 上年增减 | 销售量 比上年 | 库存量 比上年 增减 | | --- | --- | --- | --- | --- | --- | --- | | | | | | （%） | 增减（%） | | | | | | | | | （%） | | 生猪（万头） | 92.38 | 87.84 | | 48.52 | 46.40 | | | 饲料（吨） | 151,429.90 | 4,146.37 | 2,196.44 | 54.11 | 156.84 | 0.87 | | 屠宰肉品（吨） | 17,069.13 | 15,690.68 | 5,932.55 | 23.99 | 24.94 | 69.03 | 注：生猪生产量 92.38 万头，其中，以活猪销售 87.84 万头，以肉品销售 ...

Financial Performance - Total operating revenue for Q1 2024 reached ¥1,429,922,405.05, a 17.0% increase from ¥1,222,375,832.52 in Q1 2023[2] - Total operating costs for Q1 2024 were ¥1,681,171,030.97, up 15.2% from ¥1,459,346,687.96 in Q1 2023[2] - Net profit for Q1 2024 was a loss of ¥259,207,917.46, compared to a loss of ¥244,578,453.85 in Q1 2023, reflecting a 5.5% increase in losses[3] - The company reported a decrease in total profit for Q1 2024, with a total loss of ¥261,288,192.44 compared to a loss of ¥244,630,759.03 in Q1 2023, reflecting a 6.7% increase in losses[3] - The net profit attributable to shareholders of the listed company was CNY -254,311,686.94, indicating a loss[39] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY -256,413,049.01[39] - The company reported a basic and diluted earnings per share of -¥0.20 in Q1 2024, slightly better than -¥0.21 in Q1 2023[14] Cash Flow - Cash flow from operating activities in Q1 2024 was ¥1,554,378,976.07, an increase from ¥1,344,323,039.25 in Q1 2023, representing a 15.6% growth[4] - In Q1 2024, the net cash flow from operating activities was ¥92,290,070.40, a significant improvement from a net outflow of ¥112,352,944.59 in Q1 2023[9] - Total cash inflow from operating activities reached ¥1,088,343,835.20, compared to ¥581,735,565.38 in the same period last year, indicating a year-over-year increase of approximately 87.1%[9] - The cash outflow for purchasing goods and services was ¥891,981,761.51, up from ¥611,484,469.68 in Q1 2023, reflecting a 46% increase[9] - The net cash flow from investing activities was -¥3,521,967.83, an improvement from -¥13,147,814.99 in Q1 2023[9] - Cash inflow from financing activities was ¥250,000,000.00, a decrease of 66% compared to ¥734,744,074.67 in Q1 2023[9] - The net cash flow from financing activities was -¥87,981,712.69, contrasting with a positive net flow of ¥450,953,040.40 in the previous year[11] Assets and Liabilities - The company reported a cash and cash equivalents balance of ¥913,563,447.25 at the end of Q1 2024, compared to ¥844,029,707.33 at the end of Q1 2023, indicating an 8.2% increase[5] - The company's total current assets increased to ¥2,646,198,724.61 as of March 31, 2024, compared to ¥2,550,641,292.42 at the end of 2023[19] - Total assets amounted to CNY 9,967,029,128.44, a slight decrease from CNY 10,012,469,562.21 in the previous year[22] - Total liabilities were CNY 5,971,448,323.64, compared to CNY 5,808,220,839.50 in the previous year[22] - The total equity attributable to shareholders was CNY 3,995,580,804.80, down from CNY 4,204,248,722.71[24] - Total assets at the end of the reporting period were approximately ¥12.1 billion, a decrease of 4.40% compared to the end of the previous year[56] - Equity attributable to shareholders of the listed company was approximately ¥2.74 billion, down 8.50% from the previous year-end[56] - Total liabilities decreased from 9,490,846,704.61 to 9,201,807,900.56, a reduction of approximately 3.06%[66] - Current assets decreased from 3,661,317,848.59 to 3,244,200,813.45, a decline of about 11.41%[71] - Cash and cash equivalents decreased from 1,500,060,097.09 to 979,050,954.05, a drop of approximately 34.67%[71] - Long-term borrowings decreased from 1,183,420,023.53 to 1,131,059,134.02, a reduction of about 4.43%[66] - Total equity attributable to shareholders decreased from 2,992,219,833.90 to 2,737,908,146.96, a decline of approximately 8.51%[66] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 50,963[42] - The largest shareholder, Hunan Grain and Oil Food Import and Export Group Co., Ltd., held 206,454,936 shares, accounting for 16.37% of total shares[42] - The number of shares held by the top ten shareholders accounted for a significant portion of the total shares, indicating concentrated ownership[42] Non-Recurring Items - Non-operating income from government subsidies amounted to ¥2.83 million, contributing positively to the financial results[56] - The company reported a non-recurring gain of approximately ¥2.10 million after tax, indicating some financial relief from non-operating activities[56] - The company did not identify any significant non-recurring losses during the reporting period[56] Research and Development - Research and development expenses for Q1 2024 were ¥6,841,654.57, up 23.3% from ¥5,546,678.19 in Q1 2023[2] Financial Stability - The report indicates a focus on maintaining financial stability amid a decrease in total assets and equity[56]

Investment Rating - The report maintains a "Buy" rating for the company, indicating an expectation of stock performance exceeding the market index by more than 20% [41][61]. Core Views - The company reported a net loss attributable to shareholders of 1.203 billion yuan in 2023, which is an increase in losses compared to the previous year due to low pig prices [5][45]. - The company achieved a revenue of 5.632 billion yuan in 2023, representing a year-on-year growth of 12.52% [5][45]. - The report anticipates a significant improvement in pig prices in the second half of 2024, driven by a reduction in industry capacity and a decrease in feed costs [40][61]. Financial Performance Summary - In 2023, the company experienced a net loss of 1.203 billion yuan, with asset impairment losses amounting to 222 million yuan [5][10]. - For Q4 2023, the company reported revenue of 1.758 billion yuan, a decrease of 0.81% year-on-year, with a net loss of 454 million yuan [5][10]. - The company’s sales volume for live pigs reached 3.2 million heads in 2023, a year-on-year increase of 75% [5][10]. - The feed production volume was 613,700 tons, up 120% year-on-year, and meat production was 61,800 tons, reflecting a 20% increase [5][10]. Business Segment Performance - The pig farming segment accounted for 67% of the company's revenue in 2023, with expectations for continued growth in output to 4 million heads in 2024 [10][11]. - The slaughtering and cold storage business, which represented 12% of revenue in 2023, is expected to see stable growth with improved gross margins [11][59]. - The raw material trading segment is projected to grow alongside the pig farming scale, benefiting from lower commodity prices [12][30]. Future Earnings Forecast - The company’s revenue is projected to reach 7.895 billion yuan in 2024, with net profits expected to recover to 151 million yuan [23][33]. - For 2025 and 2026, revenues are forecasted at 10.240 billion yuan and 11.644 billion yuan, with net profits of 789 million yuan and 822 million yuan, respectively [23][33]. - The expected earnings per share (EPS) for 2024, 2025, and 2026 are 0.12 yuan, 0.63 yuan, and 0.65 yuan [33][61].

Investment Rating - The report maintains a "Buy" rating for the company [4][18] Core Insights - The company has achieved a significant increase in pig slaughtering capacity, reaching an annual capacity of 2.05 million pigs by the end of 2023, with additional feed production capacity of 420,000 tons from new projects [2][17] - In 2023, the company reported a revenue of 5.632 billion yuan, a year-on-year increase of 14.19%, but incurred a net loss attributable to shareholders of 1.203 billion yuan, compared to a loss of 76 million yuan in the previous year [16][19] - The company experienced a 75% year-on-year increase in pig slaughtering, totaling 3.2007 million pigs, with a notable acceleration in the fourth quarter [17] Summary by Sections Financial Performance - Revenue for 2023 was 5.632 billion yuan, with a growth rate of 14.19% compared to the previous year [19] - The net profit attributable to shareholders was -1.203 billion yuan, reflecting a significant decline from the previous year's loss of 76 million yuan [19] - Earnings per share (EPS) for 2024 is projected at 0.12 yuan, with subsequent years showing improvements to 0.72 yuan in 2025 and 0.55 yuan in 2026 [18][19] Operational Highlights - The company has expanded its breeding capacity significantly, with 7 new sow farms and an increase of 51,600 sows, leading to a total of 209,900 breeding sows by the end of 2023 [17] - The operational strategy includes a focus on leasing and self-built projects to enhance production capacity [17] Market Outlook - The report anticipates a rebound in the pig farming sector in 2024, which is expected to enhance the company's performance [18] - The company has adjusted its profit forecasts for 2024 and 2025, reflecting a decrease in expected net profits due to ongoing cost challenges [18]

Investment Rating - The investment rating for the company is "Buy" based on the expected performance relative to market indices [11]. Core Views - The company has experienced significant growth in pig production, with a 75% year-on-year increase in pig output, totaling approximately 3.2 million pigs by the end of 2023 [25]. - Despite the growth in output, the company faced substantial losses due to persistently low pig prices throughout 2023 [25]. - The company is expected to benefit from a reversal in the pig cycle in the second half of the year, leading to potential performance improvements [26]. Financial Data and Valuation - Revenue is projected to grow from 56.32 billion yuan in 2023 to 120.02 billion yuan by 2026, with growth rates of 12.52%, 46.59%, 26.64%, and 14.79% for the respective years [3][26]. - The company is expected to turn profitable in 2024, with a forecasted net profit of 269 million yuan, followed by 1.416 billion yuan in 2025 and 1.529 billion yuan in 2026, reflecting growth rates of 122.37%, 426.07%, and 7.96% respectively [3][26]. - Earnings per share (EPS) are projected to improve from -0.95 yuan in 2023 to 1.21 yuan in 2026 [3][26]. - The company has a strong financial position with a cash balance of 1.5 billion yuan and a credit line of over 5 billion yuan [9]. Operational Insights - The company has a robust breeding capacity with a total of 349,200 breeding pigs, including 209,900 sows, and an annual output capacity of 694,600 fat pigs [1]. - The slaughtering capacity is established at 2.05 million pigs per year, and the feed production capacity is nearly 1.2 million tons, with an additional 420,000 tons added in 2023 [1][9].

湖南新五丰股份有限公司董事会 审计委员会 2023 年度履职情况报告 根据中国证券监督管理委员会、上海证券交易所相关法律法规以及湖南新 五丰股份有限公司(以下简称"新五丰"或"公司")《董事会专门委员会实施, 细则》《公司审计委员会年报工作规程》等有关规定,公司董事会审计委员会本 着勤勉尽责的原则,认真履行了审计监督、指导职责。现将董事会审计委员会 2023年度的履职情况汇报如下: 一、董事会审计委员会基本情况 公司第五届董事会审计委员会由独立董事黄珺女士、独立董事李林先生、 董事胡静女士 3 名成员组成。主任委员由具有专业会计资格的独立董事黄珺女 士担任。 投告期内,公司顺利完成了董事会换届选举工作。公司第六届董事会审计 委员会由独立董事黄珺女士、独立董事李林先生、董事祝慧女士 3 名成员组成。 主任委员由具有专业会计资格的独立董事黄珺女士担任。 二、董事会审计委员会会议召开情况 (一) 2023 年度共计召开了 7 次会议,会议召开情况如下: 1、2023年1月4日,公司召开了 2022年度财务审计第一次会议暨第五届 董事会审计委员会第二十七次会议,会议主要内容为: (1) 财务总监向独立董事书面提交本年 ...

证券代码：600975 证券简称：新五丰 公告编号：2024-016 湖南新五丰股份有限公司 2023 年 1-12 月主要经营数据公告 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。 湖南新五丰股份有限公司将 2023 年 1-12 月主要经营数据公告如下： | 主要产品 | 生产量 | 销售量 | 库存量 | 生产量比 上年增减 | 销售量 比上年 | 库存量 比上年 | | --- | --- | --- | --- | --- | --- | --- | | | | | | | | 增减 | | | | | | （%） | 增减（%） | | | | | | | | | （%） | | 生猪（万头） | 320.07 | 311.51 | | 75.21 | 74.35 | | | 饲料（吨） | 613,722.82 | 34,126.90 | 1,849.09 | 119.82 | 7,382.66 | 60.76 | | 屠宰肉品（吨） | 61,841.08 | 59,143.25 | 4,652.74 | 2 ...

湖南新五丰股份有限公司 关于发行股份购买资产并募集配套资金暨关联交易 之业绩承诺实现情况及业绩补偿方案 暨回购注销对应补偿股份的公告 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。 湖南新五丰股份有限公司（以下简称"新五丰"或"上市公司"或"公司"） 于 2024 年 4 月 18 日召开第六届董事会第五次会议，审议通过了《关于发行股份 购买资产并募集配套资金暨关联交易之业绩承诺实现情况及补偿方案暨回购注 销对应补偿股份的预案》，该预案尚需提交公司股东大会审议。现将有关情况公 告如下： 一、发行股份购买资产暨关联交易基本情况 2022 年，公司拟通过发行股份及支付现金购买资产并募集配套资金（以下 简称"本次交易"、"本次重组"），标的资产为湖南天心种业有限公司（以下 简称"天心种业"）100%股权和 200 万元国有独享资本公积、沅江天心种业有限 公司（以下简称"沅江天心"）48.20%股权、衡东天心种业有限公司（以下简称 "衡东天心"）39.00%股权、荆州湘牧种业有限公司（以下简称"荆州湘牧"） 49.00%股权、临湘天心 ...