山东邦基科技股份有限公司 关于2024年股票期权激励计划首次授予股票期权 第一个行权期限制行权期间的提示性公告 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。 山东邦基科技股份有限公司（以下简称"公司"）计划开展2024年年度权益分 派工作，根据《上市公司股权激励管理办法》《上海证券交易所上市公司自律监管 指南第2号—业务办理》《山东邦基科技股份有限公司2024年股票期权激励计划（ 草案）》及中国证券登记结算有限责任公司上海分公司关于股票期权自主行权的相 关规定，并结合公司2024年度权益分派实施计划，现对公司2024年股票期权激励计 划股票期权行权时间进行限制，具体情况如下： 证券代码：603151 证券简称：邦基科技 公告编号：2025-056 特此公告。 山东邦基科技股份有限公司董事会 2025年6月21日 一、公司2024年股票期权激励计划首次授予股票期权（期权代码：1000000655） 第一个行权期实际行权期间为2025年6月6日至2026年6月5日，目前尚处于行权阶段。 二、本次限制行权期为2025年6月2 ...

Core Viewpoint - Shandong Bangji Technology Co., Ltd. plans to acquire 100% equity of six companies, including Shandong Beixi Agricultural and Animal Husbandry Co., Ltd., and 80% equity of Shanghai Paistong Animal Husbandry Technology Consulting Co., Ltd., transitioning from a single feed producer to an integrated "feed + breeding" enterprise [1][2] Group 1: Acquisition Details - The acquisition involves seven companies, with the preliminary pricing for the share issuance set at 13.33 yuan per share, based on the average price over the previous 60 days [2] - The target companies primarily engage in pig breeding and sales, adopting a "combined breeding" model influenced by Riverstone's U.S. breeding experience [2] - Two of the target companies have reported losses since 2023, with Xinpig Agricultural facing significant financial challenges, including projected losses exceeding 20 million yuan in both 2023 and 2024 [2] Group 2: Financial Performance - Bangji Technology's net profit attributable to the parent company has declined for three consecutive years, with figures of 110 million yuan, 82.41 million yuan, and 50.53 million yuan from 2022 to 2024 [1] - The decline in profit is attributed to low capacity utilization rates and increased fixed costs due to the rollout of investment projects [1] Group 3: Market Context and Challenges - The acquisition marks a critical step for Bangji Technology in extending its industrial chain and enhancing synergy [3] - The company faces challenges in entering the pig breeding sector, which is characterized by strong cycles, and its ability to achieve performance growth through business expansion remains to be seen [3] - Previous attempts to acquire Riverstone's Chinese pig breeding assets have failed, raising questions about the current acquisition's success [3]

邦基科技再度涨停，4个交易日内录得3个涨停，累计涨幅为27.86%，累计换手率为48.19%。截至9:42， 该股今日成交量982.41万股，成交金额2.11亿元，换手率12.15%。最新A股总市值达36.78亿元，A股流 通市值17.69亿元。 | 日期 | 当日涨跌幅（%） | 换手率（%） | 主力资金净流入（万元） | | --- | --- | --- | --- | | 2025.06.19 | -3.91 | 27.38 | -2376.83 | | 2025.06.18 | 9.98 | 1.26 | 200.46 | | 2025.06.17 | 9.99 | 7.39 | 672.04 | | 2025.06.04 | 10.03 | 7.89 | 2113.02 | | 2025.06.03 | 3.73 | 4.49 | 408.41 | | 2025.05.30 | 0.33 | 2.28 | -9.98 | | 2025.05.29 | -0.27 | 3.34 | -171.73 | | 2025.05.28 | -0.86 | 2.71 | -51.61 | | 2025.05 ...

Group 1 - The A-share agricultural product processing sector experienced a short-term surge, with Bangji Technology hitting the daily limit up [1] - Other companies such as Aonong Biological, Chenguang Biological, Zhenghong Technology, Haida Group, and Huazi Industrial also saw significant increases in their stock prices [1]

农产品加工板块短线拉升，邦基科技（603151）涨停，傲农生物（603363）、晨光生物（300138）、正 虹科技（000702）、海大集团（002311）、华资实业（600191）等纷纷走高。 ...

Group 1: Institutional Trading Insights - A total of 28 stocks were listed on the institutional trading leaderboard, with 16 stocks experiencing net buying and 13 stocks facing net selling [1] - The top three stocks with the highest net buying by institutions were: Keheng Co., Ltd. (75.16 million), Xiexin Energy Technology (71.78 million), and Bangji Technology (55.89 million) [1][2] Group 2: Company-Specific Developments - Keheng Co., Ltd. saw a net buying of 75.16 million from three institutions, with a stock price increase of 7.97% [2][3] - The company is engaged in research and evaluation of solid-state batteries, focusing on improving safety and energy density by replacing liquid electrolytes with solid electrolytes [3] Group 3: Industry Trends - The short drama industry is experiencing significant growth, with Chinese companies dominating the international market, as evidenced by 41 out of the top 50 overseas short drama applications being developed by Chinese firms [4] - The AI-driven short drama sector is expected to see substantial advancements by 2025, with increased production and user engagement anticipated due to technological improvements [5] - The oil service industry is highlighted by Tongyuan Petroleum, a leader in the composite perforation sector, and the ongoing geopolitical risks affecting global oil prices, particularly due to tensions in the Strait of Hormuz [6]

Summary of the Conference Call for Bangji Technology Company Overview - **Company**: Bangji Technology - **Acquisition**: Acquired a 20% stake in American Pyston to enhance production management and efficiency in pig farming [2][8] Key Industry Insights - **Industry Focus**: Pig farming, specifically in breeding and fattening pigs - **Production Capacity**: Pyston currently manages a pig capacity of 80,000 to 100,000 sows, primarily in southern China, with a focus on improving production efficiency [3][5] Core Points and Arguments - **Production Efficiency**: Pyston's PSY (Pigs Sold per Sow per Year) is projected to reach 31-32 by 2025, indicating significant improvements in breeding efficiency [2][5] - **Strategic Expansion**: Bangji plans to collaborate with idle pig farms to accelerate the expansion of sow production capacity [2][7] - **Regional Focus**: The company aims to replicate its successful pig farming model from Shanxi to other regions like Yunnan and Sichuan [2][18] - **Sales Model**: Pyston will primarily focus on selling weaned piglets starting from 2024 [4] Financial Projections - **Feed Sales**: Expected feed sales for 2025 are projected to reach 1.4 to 1.5 million tons, exceeding the initial target of 1.2 million tons [16] - **Future Goals**: The target for 2026 is to increase feed sales to over 2 million tons [16] Operational Strategies - **Management Collaboration**: Bangji will leverage Pyston's management expertise to enhance pig farming operations [7][9] - **Cost Management**: The company provides transportation and credit support to reduce farming costs [11][12] - **Innovative Farming Practices**: The adoption of a partner system in Shandong has improved employee engagement and production outcomes [12] Additional Insights - **Biological Safety**: The new farming model emphasizes higher biological safety standards, which is crucial in the context of African Swine Fever [11][14] - **Future Trends**: The industry may see a shift towards a "south pig, north raising" model, optimizing resource allocation and production efficiency [15] - **Expansion Plans**: Bangji is cautious about expanding its feed factory layout, focusing on gradual growth based on market demand [12][17] Conclusion Bangji Technology is strategically positioning itself in the pig farming industry through acquisitions, operational efficiencies, and innovative farming practices, with a clear focus on expanding production capacity and improving overall efficiency in the coming years.

4月22日公司发布的一季报数据显示，一季度公司共实现营业总收入10.76亿元，同比增长160.84%，实 现净利润0.28亿元，同比增长37.71%。（数据宝） 邦基科技盘中涨停，已连收3个涨停板，截至9:25，该股报22.78元，换手率0.33%，成交量26.60万股， 成交金额605.95万元，涨停板封单金额为3608.81万元。连续涨停期间，该股累计上涨33.06%，累计换 手率为8.98%。最新A股总市值达38.27亿元，A股流通市值18.41亿元。 龙虎榜数据显示，该股因连续三个交易日内，涨幅偏离值累计达20%上榜龙虎榜1次，买卖居前营业部 中，机构净买入1363.37万元，营业部席位合计净卖出692.82万元。 近日该股表现 | 日期 | 当日涨跌幅（%） | 换手率（%） | 主力资金净流入（万元） | | --- | --- | --- | --- | | 2025.06.18 | 9.98 | 1.26 | 200.46 | | 2025.06.17 | 9.99 | 7.39 | 672.04 | | 2025.06.04 | 10.03 | 7.89 | 2113.02 | | 2025 ...

Core Viewpoint - The company plans to acquire 100% equity of seven companies in the pig farming and feed production sector, aiming to extend its business from feed production to a vertically integrated model that includes pig farming and sales [1][4][5]. Group 1: Acquisition Details - The acquisition involves seven companies: Beixi Agriculture, Ruidong Weili, Xinmu Agriculture, Ruidong Agriculture (Lijin), Ruidong Agriculture (Shandong), Weili Agriculture (Binzhou), and 80% of Paistong [1][4]. - The transaction price will be determined after the completion of auditing and evaluation, adhering to the principles of good faith [4]. Group 2: Financial Performance of Target Companies - Beixi Agriculture reported revenues of 155.19 million, 130.76 million, and 46.81 million for 2023, 2024, and the first four months of 2025, with net profits of -11.91 million, 11.46 million, and 3.75 million respectively [5]. - Ruidong Weili's revenues were 282.14 million, 311.11 million, and 102.26 million for the same periods, with net profits of -13.16 million, 72.40 million, and 34.54 million [5]. - Xinmu Agriculture had revenues of 76.31 million, 33.35 million, and 6.65 million, with net profits of -29.35 million, -26.67 million, and -7.34 million [5]. Group 3: Company Performance and Market Position - The company has seen a continuous decline in net profits since its IPO in 2022, despite revenue growth [7]. - From 2020 to 2024, the company’s revenues were 1.72 billion, 2.04 billion, 1.66 billion, 1.65 billion, and 2.54 billion, while net profits were 113 million, 146 million, 120 million, 84 million, and 52 million, indicating a downward trend in profitability [7]. - In 2024, the company achieved a revenue growth of 54.36%, reaching 2.54 billion, but net profits declined significantly [8]. Group 4: Challenges and Strategic Shift - The company faces challenges in profitability due to high fixed costs during the ramp-up phase of its projects and a shift towards credit sales, leading to increased accounts receivable and bad debt provisions [8]. - The increase in low-margin feed products has further compressed profit margins, despite a favorable trend in raw material costs [8].

Core Viewpoint - After three consecutive declines in performance, the pig feed company Bangji Technology (603151.SH) plans to acquire six pig farming companies and one livestock technology consulting firm to turn around its business [1][6]. Group 1: Acquisition Details - Bangji Technology intends to acquire 100% equity of seven companies, including Beixi Agriculture, Ruido Weili, Xinmu Agriculture, and others, as well as 80% of the equity of Paistong Livestock Technology Consulting (Shanghai) Co., Ltd [3][5]. - The net asset of the seven target companies is 760 million yuan, which accounts for 57% of Bangji Technology's net assets as of the first quarter [5][19]. - The acquisition will constitute a major asset restructuring and related party transaction, with the acquiring company expected to hold over 5% of Bangji Technology post-transaction [6][30]. Group 2: Financial Performance - Bangji Technology's net profit for 2022 to 2024 is projected to decline from 120 million yuan to 50 million yuan, indicating a downward trend in profitability [6][7]. - The seven target companies had a combined net profit of 86.83 million yuan last year, which is 173% of Bangji Technology's profit, showcasing better profitability [19][20]. - However, the seven companies collectively reported a loss of 57.30 million yuan in 2023, with six of them incurring losses, raising concerns about the sustainability of their earnings [21][15]. Group 3: Market Conditions - The pig farming industry is currently experiencing a downturn, with pork prices declining from February to May, affecting overall profitability [14][15]. - The summer season is expected to bring a further decline in pork consumption, making it difficult for prices to rebound [15][30]. - The cyclical nature of pig prices poses a risk to the profitability of the newly acquired companies, which may impact Bangji Technology's financial health post-acquisition [13][21]. Group 4: Stock Performance and Shareholder Dynamics - Bangji Technology's stock price has doubled this year, with a 106.89% increase, following a series of trading halts and subsequent price surges [24][25]. - A mysterious individual investor significantly increased their stake in Bangji Technology before the trading halt, now holding 2.02% of the total shares [25][27]. - A substantial amount of shares, accounting for 51.89% of the total share capital, will be unlocked in October 2025, raising concerns about potential selling pressure [28][30].