| 证券代码：603609 | 证券简称：禾丰股份 | 公告编号：2025-104 | | --- | --- | --- | | 债券代码：113647 | 债券简称：禾丰转债 | | 禾丰食品股份有限公司 2025年9月为子公司提供担保情况的公告 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。 重要内容提示： 担保对象及基本情况 | 担保对象一 | 被担保人名称 | | 辽宁爱普特贸易有限公司 | | --- | --- | --- | --- | | | 本次担保金额 | 30,000.00 | 万元 | | | 实际为其提供的担保余额 | 37,845.18 | 万元 | | | 是否在前期预计额度内 | ☑是 | □否 | | | 本次担保是否有反担保 | □是 | ☑否 | | 担保对象二 | 被担保人名称 | | 凌源禾丰牧业有限责任公司 | | | 本次担保金额 | 4,000.00 | 万元 | | | 实际为其提供的担保余额 | 2,400.00 | 万元 | | | 是否在前期预计额度内 | ☑是 | □ ...

Market Overview - The feed sector experienced a decline of 1.02% on October 14, with Zhongchong Co., Ltd. leading the drop [1] - The Shanghai Composite Index closed at 3865.23, down 0.62%, while the Shenzhen Component Index closed at 12895.11, down 2.54% [1] Individual Stock Performance - Baiyang Co., Ltd. saw a significant increase of 9.97%, closing at 6.84, with a trading volume of 164,800 shares and a turnover of 110 million [1] - Other notable performers included Lude Environment (+3.39%), Tiankang Biological (+1.19%), and Tangrenshen (+0.42%) [1] - Zhongchong Co., Ltd. reported a decline of 5.82%, closing at 53.38, with a trading volume of 141,600 shares and a turnover of 760 million [2] - Aonong Biological and Tianma Technology also experienced declines of 2.18% and 1.75%, respectively [2] Capital Flow Analysis - The feed sector saw a net outflow of 183 million from main funds, while retail investors contributed a net inflow of 185 million [2] - The capital flow for individual stocks showed that Baiyang Co., Ltd. had a net inflow of 36.87 million from main funds, while Tiankang Biological had a net inflow of 15.21 million [3] - Conversely, Zhongchong Co., Ltd. experienced a significant net outflow of 76 million from main funds [3]

Group 1 - The core point of the article is that He Feng Co., Ltd. (603609.SH) announced significant share reductions by its major shareholders, which may impact the company's stock performance [1] Group 2 - The controlling shareholder's concerted action, Mr. Wang Fengjiu, reduced his holdings by 5.99 million shares through block trading from September 17 to September 30, 2025 [1] - Ms. Shao Caimei sold 1.2132 million shares through centralized bidding from October 13 to October 14, 2025 [1] - The combined shareholding of the controlling shareholder Jin Weidong and his concerted actors decreased from 31.74% to 30.95%, marking a change that touches the 1% threshold [1]

Investment Rating - The industry investment rating is maintained as "Increase" [4] Core Viewpoints - After the double holiday, pig prices have rapidly declined to below 12 yuan/kg, with self-breeding and self-raising profitability dropping to -152.15 yuan/head, a decrease of 47.2 yuan/head from the previous week. The pressure from high supply is expected to continue to weigh on pig prices, leading to increased market pessimism and a potential for further price declines. However, there is an expectation for a mid-to-long-term price reversal driven by policy and proactive production cuts [1][15][19] - The average selling price of lean pigs nationwide is 11.39 yuan/kg, down 6.1% from last week. The current valuation remains relatively low, suggesting investment opportunities in low-cost pig farming companies such as Muyuan Foods, Wens Foodstuff Group, and others [2][16] - In poultry farming, the price of white feather chickens is 6.88 yuan/kg, down 0.1% from last week, while the average price of chicken products remains stable at 8.65 yuan/kg. The price of meat chicken chicks has increased by 0.6% to 3.22 yuan each. There are expectations for a price rebound in the chicken market [2][16][34] Summary by Sections Livestock - The average weight of pigs sold is 128.48 kg, showing a 0.5% increase from the low point in early August. Feed prices have also increased, indicating a gradual rise in pig inventory since July [1][15] - The profitability of self-breeding and self-raising pigs is -152.15 yuan/head, while the profitability of purchased piglets is -301.04 yuan/head, indicating significant losses in the sector [19][20] Poultry - The price of yellow feather chickens has seen a week-on-week increase of 1.9%, with the current price at 14.18 yuan/kg. This suggests seasonal price elasticity opportunities [2][16][40] - The profitability of parent breeding chickens is 0.47 yuan/head, while the profitability of meat chickens is -2.23 yuan/head, reflecting challenges in the poultry sector [38][44] Agricultural Products - The approval of genetically modified varieties is expected to lead to commercial sales, with potential growth for industry companies as prices and profit distribution become clearer [2][16] Feed and Vaccines - The volatility in agricultural product prices is increasing, and leading feed companies are expected to replace smaller competitors due to their advantages in procurement and scale [2][16]

Group 1 - The company decided not to adjust the conversion price of "He Feng Convertible Bonds" despite triggering the downward adjustment clause due to stock prices falling below 85% of the current conversion price [2][9] - The board's decision was made during the 13th meeting of the 8th board on October 10, 2025, with a unanimous vote of 9 in favor and no opposition [9] - The company will not adjust the conversion price for the next six months, and any future triggers will be evaluated at that time [9] Group 2 - "He Feng Convertible Bonds" were issued on April 22, 2022, with a total amount of 1.5 million bonds, each with a face value of 100 yuan, totaling 1.5 billion yuan [3][12] - The bonds have a six-year term, with a coupon rate that increases from 0.3% in the first year to 2.0% in the sixth year [3][12] - The initial conversion price was set at 10.22 yuan per share, which has been adjusted to 10.09 yuan due to various factors including stock repurchases and profit distributions [4][14] Group 3 - As of September 30, 2025, a total of 33,133,000 yuan of "He Feng Convertible Bonds" have been converted into shares, resulting in 3,229,417 shares, which is 0.35% of the total shares before conversion [11][16] - The remaining unconverted bonds amount to 1,466,863,000 yuan, representing 97.79% of the total issuance [11][17]

Core Viewpoint - He Feng Co., Ltd. announced that as of September 30, 2025, the company has repurchased a total of 17.303064 million shares, representing 1.90% of its current total share capital [1] Group 1 - The company did not conduct any share buybacks in September 2025 [1] - The total number of shares repurchased through centralized bidding transactions amounts to 17.303064 million [1] - The repurchased shares account for 1.90% of the company's total share capital [1]

禾丰食品股份有限公司 | 证券代码：603609 | 证券简称：禾丰股份 | 公告编号：2025-103 | | --- | --- | --- | | 债券代码：113647 | 债券简称：禾丰转债 | | 关于股份回购进展公告 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： 2025 年 9 月，公司未进行回购。截至 2025 年 9 月 30 日，公司通过集中竞价 交易方式已累计回购股份 1,730.3064 万股，占公司目前总股本的比例为 1.90%， 购买的最高价为 9.16 元/股、最低价为 7.31 元/股，已支付的总金额为 14,545.92 万元（不含交易费用）。 一、回购股份的基本情况 禾丰食品股份有限公司（以下简称"公司"）于 2024 年 10 月 28 日召开第八 届董事会第八次会议，审议通过了《关于 2024 年第二次以集中竞价交易方式回购 公司股份方案的议案》，同意公司使用自有资金及自筹资金以集中竞价交易方式回 购公司股份用于转换公司可转债，回购资金总额不超过人民币 2.00 亿元 ...

● 累计转股情况：禾丰食品股份有限公司可转换公司债券（以下简称"禾 丰转债"）自 2022 年 10 月 28 日起开始转股，截至 2025 年 9 月 30 日，累计共 有 33,133,000 元"禾丰转债"转换为公司股份，因转股形成的股份数量为 3,229,417 股，占可转债转股前公司已发行股份总额的 0.35%。 ● 未转股可转债情况：截至 2025 年 9 月 30 日，尚未转股的"禾丰转债" 金额为 1,466,863,000 元，占"禾丰转债"发行总额的 97.79%。 | 证券代码：603609 | 证券简称：禾丰股份 | 公告编号：2025-102 | | --- | --- | --- | | 债券代码：113647 | 债券简称：禾丰转债 | | 一、可转债发行上市概况 禾丰食品股份有限公司 关于可转换公司债券转股结果暨股份变动公告 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： 1、"禾丰转债"发行上市情况 经中国证券监督管理委员会证监许可[2022]662 号文核准，禾丰食品股份有 ...

禾丰食品股份有限公司 关于不向下修正"禾丰转债"转股价格的公告 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。 重要内容提示: 自 2025 年 9 月 3 日至 2025 年 10 月 10 日，公司股票在连续 30 个交易日 中有 15 个交易日的收盘价低于当期转股价格（10.09 元/股）的 85%（即 8.58 元 /股），已触发"禾丰转债"的转股价格向下修正条款。 经第八届董事会第十三次会议决议，公司董事会决定本次不向下修正"禾 丰转债"的转股价格；并且在未来 6 个月内（即自 2025 年 10 月 11 日至 2026 年 4 月 10 日），如再次触发"禾丰转债"转股价格向下修正条款，亦不下修转股价 格。在此期间之后（下一触发转股价格修正条款的期间从 2026 年 4 月 11 日起重 新起算），如再次触发转股价格向下修正条款，届时公司董事会将按规定召开会 议决定是否向下修正转股价格。 | 证券代码：603609 | 证券简称：禾丰股份 | 公告编号：2025-101 | | --- | --- | --- | ...

Core Viewpoint - He Feng Co., Ltd. experienced a slight decline in stock price, closing at 7.98 yuan, with a notable large transaction occurring on September 30, involving 2.99 million shares valued at approximately 21.62 million yuan, indicating a negative premium rate of -9.40% [1] Group 1: Stock Performance - On September 30, He Feng Co., Ltd. closed down by 0.62% at a price of 7.98 yuan [1] - The stock has seen a cumulative decline of 0.87% over the last five trading days [1] Group 2: Large Transactions - A significant large transaction occurred, with the first trade priced at 7.23 yuan for 2.99 million shares, totaling 21.62 million yuan [1] - In the last three months, the stock has recorded five large transactions, with a total transaction value of 90.91 million yuan [1] Group 3: Capital Flow - The net inflow of main funds for the stock amounted to 108,800 yuan [1]