| 证券代码：603609 | 证券简称：禾丰股份 | 公告编号：2025-086 | | --- | --- | --- | | 债券代码：113647 | 债券简称：禾丰转债 | | 禾丰食品股份有限公司 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。 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 亿元且不低于 人民币 1.00 亿元（均含本数），回购价格不超过人民币 10.90 元/股（含本数）， 回购期限自董事会审议通过回购股份方案之日起不超过 12 个月。具体内容详见公 司于 2024 年 10 月 30 日在上海证券交易所网站（www.sse.com.cn）披露的《禾丰 股份关于 2024 年第二次以集中竞价交易方式回购公司股份暨推动落实 ...

Summary of Key Points Core Viewpoint - He Feng Co., Ltd. (603609.SH) announced that as of August 31, 2025, the company has repurchased a total of 17.303064 million shares, accounting for 1.90% of the current total share capital, with a total expenditure of 145.4592 million yuan (excluding transaction fees) [1] Company Actions - The company has not conducted any share buybacks since August 2025 [1] - The shares were repurchased through centralized bidding transactions [1] Financial Details - The highest purchase price for the repurchased shares was 9.16 yuan per share, while the lowest price was 7.31 yuan per share [1] - The total amount paid for the repurchased shares was 145.4592 million yuan [1]

Investment Rating - The industry investment rating is "Recommended" with an expectation that the industry index will exceed the benchmark index by more than 5% in the next 3-6 months [53]. Core Insights - The report indicates that the prices of broilers and chicks have reached a bottom and are beginning to rebound, although the losses in the breeding sector have widened [1][2]. - In July, the loss from broiler farming was 2.59 yuan per bird, and the loss from hatcheries was 0.23 yuan per bird, both showing an increase in loss compared to previous months [2][43]. - The report highlights a recovery in chick prices after hitting a low of 0.73 yuan per chick, with a subsequent increase of 0.10 yuan per chick over 15 days due to supply shortages and rising broiler prices [8][11]. Industry Overview - The total market capitalization of the industry is approximately 1,331.25 billion yuan, with 101 listed companies [3]. - The absolute performance of the industry over the past month is 3.5%, with a relative performance of 3.9% [4]. Price Trends - The average price of white feather broilers in July was 3.21 yuan per kg, reflecting a year-on-year decrease of 12.30% and a month-on-month decrease of 8.55% [11]. - The average price of chicken products was 8535.88 yuan per ton, down 8.94% year-on-year and 3.04% month-on-month [11]. Sales Performance - In July, the sales volume of broiler meat for Shengnong Development was 15.87 million tons, up 22.83% year-on-year, while the sales volume for Xiantan Co. was 5.96 million tons, up 31.28% year-on-year [19][28]. - The sales revenue for Yisheng Co. in July was 1.01 billion yuan, down 46.39% year-on-year, while Shengnong Development's chicken meat sales revenue was 14.90 billion yuan, up 14.44% year-on-year [14][15]. Production Capacity - The average stock of grandparent stock chickens in July 2025 was 1.4 million sets, an increase of 7.3% year-on-year, while the stock of backup grandparent stock chickens decreased by 8.5% year-on-year [32][33]. - The average price of parent stock chicks in July was 47.66 yuan per set, with a slight decrease to 47.21 yuan per set in the latest week [35][37].

证券之星消息，8月27日饲料板块较上一交易日下跌1.75%，邦基科技领跌。当日上证指数报收于 3800.35，下跌1.76%。深证成指报收于12295.07，下跌1.43%。饲料板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | | --- | --- | --- | --- | --- | --- | --- | | 603363 | 傲农生物 | 4.57 | 10.12% | 155.40万 | | 7.01亿 | | 300673 | 佩蒂股份 | 17.68 | -0.67% | 12.21万 | | 2.17亿 | | 002891 | 中宠股份 | 59.14 | -1.09% | 9.38万 | | 5.57亿 | | 002385 | 大北农 | 4.28 | -1.15% | 175.54万 | | 7.61亿 | | 301498 | 乖宝宠物 | 94.33 | -1.46% | 2.79万 | | 2.66亿 | | 002567 | 唐人神 | 4.91 | -2.00% | 61.46万 | | 3.05亿 | | 001 ...

Group 1 - The poultry concept sector rose by 2.87%, ranking second in terms of increase among concept sectors, with 20 stocks rising, including Xiaoming Co., Tianma Technology, and Jingji Zhino, which increased by 10.34%, 8.15%, and 6.16% respectively [1][2] - The leading stocks in terms of net inflow of main funds include Xiaoming Co. with a net inflow of 71.28 million yuan, followed by Huadong Co., Tianma Technology, and Tiankang Biological with net inflows of 49.64 million yuan, 47.57 million yuan, and 35.89 million yuan respectively [1][2] - The main fund inflow rates for leading stocks are Huadong Co. at 12.51%, Guanghong Holdings at 11.56%, and Xiaoming Co. at 9.64% [2][3] Group 2 - The overall market performance shows that the poultry sector is gaining traction, with significant interest from main funds, indicating a positive sentiment towards the industry [1][2] - Stocks such as Jinlongyu, Yike Foods, and Shuanghui Development experienced declines of 0.84%, 0.25%, and 0.24% respectively, highlighting some volatility within the sector [1][3] - The trading volume and turnover rates for leading stocks in the poultry sector suggest active trading, with Xiaoming Co. having a turnover rate of 24.77% [2][3]

Market Overview - The feed sector increased by 1.07% on August 26, with Aonong Biological leading the gains [1] - The Shanghai Composite Index closed at 3868.38, down 0.39%, while the Shenzhen Component Index closed at 12473.17, up 0.26% [1] Individual Stock Performance - Aonong Biological (603363) closed at 4.15, up 10.08%, with a trading volume of 785,000 shares and a turnover of 318 million yuan [1] - Tianma Technology (603668) closed at 14.86, up 8.15%, with a trading volume of 411,700 shares and a turnover of 607 million yuan [1] - Bangji Technology (603151) closed at 27.04, up 5.42%, with a trading volume of 72,200 shares and a turnover of 26.8 million yuan [1] - Tiankang Biological (002100) closed at 6.97, up 5.29%, with a trading volume of 1,027,400 shares and a turnover of 706 million yuan [1] - Petty Holdings (300673) closed at 17.80, up 2.06%, with a trading volume of 140,200 shares and a turnover of 249 million yuan [1] Capital Flow Analysis - The feed sector saw a net inflow of 102 million yuan from main funds, while retail investors experienced a net outflow of approximately 95.23 million yuan [2] - Aonong Biological had a main fund net outflow of 94.44 million yuan, with retail investors also showing a net outflow of 45.43 million yuan [3] - Tianma Technology experienced a main fund net inflow of 61.12 million yuan, while retail investors had a net outflow of 28.96 million yuan [3]

Group 1 - The company plans to conclude and terminate certain projects funded by the 2022 convertible bond issuance, reallocating the remaining funds to new investment projects [2][4] - Specific projects that will be concluded include the annual production of 300,000 tons of complete feed in Shenyang and various pig farming projects, while several other projects will be terminated [2][4] - The remaining funds and interest income will be used for new investment projects, with some funds retained in the fundraising account [2] Group 2 - The company proposes to adjust the total credit limit for 2025 from "not exceeding RMB 7.2 billion" to "not exceeding RMB 8.2 billion" to meet operational and investment needs [4][5] - The credit facilities will include working capital loans, project loans, bank acceptance bills, guarantees, letters of credit, and financing leases [4] Group 3 - The company intends to increase the estimated guarantee amount for 2025 by RMB 1.25 billion, with specific allocations for financing guarantees, raw material procurement guarantees, and performance guarantees for subsidiaries [6][7] - The total guarantee amount for subsidiaries is expected to reach RMB 5.6 billion, with specific limits based on the subsidiaries' asset-liability ratios [6][7] Group 4 - The company plans to adjust the estimated amount for daily related transactions for 2025, reducing the estimated sales amount by RMB 902.08 million and increasing the estimated procurement amount by RMB 66.5 million, resulting in a net reduction of RMB 835.58 million [10][12] - The adjustments reflect changes in the company's operational needs and the integration of certain subsidiaries into the company’s financial reporting [10][12] Group 5 - The company proposes to purchase liability insurance for directors and senior management to enhance risk management and reduce operational risks [13][14] - The proposal includes authorizing the management to handle all related matters, including selecting insurance companies and determining coverage [13][14]

禾丰食品股份有限公司 2025 年第三次临时股东大会 会议材料 二〇二五年九月 中国·沈阳 1 / 10 禾丰食品股份有限公司 2025 年第三次临时股东大会会议材料 目 录 | 禾丰食品股份有限公司 | | | 2025 年第三次临时股东大会会议议程 | 3 | | --- | --- | --- | --- | --- | | 议案一：关于 | 2022 | | 年公开发行可转换公司债券募投项目结项及终止并将部分结余募集资 | | | 金用于新增募投项目的议案 | | | | 4 | | 议案二：关于调整 2025 | | | 年度向金融机构申请综合授信额度的议案 | 5 | | 议案三：关于追加 2025 | | | 年度担保预计额度及被担保对象的议案 | 6 | | 议案四：关于调整 2025 | | | 年度日常关联交易预计的议案 | 8 | | 议案五：关于购买董事和高级管理人员责任险的议案 | | | | 10 | 2 / 10 禾丰食品股份有限公司 2025 年第三次临时股东大会会议材料 禾丰食品股份有限公司 互联网投票平台投票时间段：9:15-15:00 会议地点：辽宁省沈阳市沈北新区辉山大 ...

Summary of Key Points Core Viewpoint - As of August 25, 1687 companies have released their semi-annual reports for 2025, with 977 reporting a year-on-year increase in net profit, while 710 reported a decline. Additionally, 1039 companies saw an increase in operating revenue, while 648 experienced a decrease. A total of 771 companies reported simultaneous growth in both net profit and operating revenue, while 442 companies saw declines in both metrics. Notably, 228 companies achieved a doubling of their performance, with Xinte Electric showing the highest increase at 49775.01% [1]. Company Performance - Xinte Electric (301120) reported earnings per share of 0.0100, with a net profit of 532.87 million and a year-on-year increase of 49775.01%. Its operating revenue reached 19265.03 million, reflecting a 16.10% increase [1]. - Fujilay (301258) achieved a net profit of 4307.66 million, with a year-on-year increase of 12430.96% and operating revenue of 22390.97 million, up by 3.36% [1]. - Taiji Holdings (300046) reported a net profit of 3972.84 million, with a year-on-year increase of 3789.41% and operating revenue of 17878.78 million, up by 4.18% [1]. - Other notable companies include: - Lian Di Xin (839790) with a net profit of 1012.23 million, a year-on-year increase of 3149.79%, but a decline in operating revenue by 8.10% [1]. - Shanda Holdings (603086) reported a net profit of 13603.97 million, with a year-on-year increase of 2561.58% and operating revenue of 142261.73 million, up by 11.82% [1]. Revenue and Profit Trends - A total of 771 companies reported simultaneous growth in both net profit and operating revenue, indicating a positive trend in the market [1]. - Conversely, 442 companies experienced declines in both metrics, highlighting potential challenges within certain sectors [1]. - The overall performance of companies shows a mixed landscape, with significant outliers achieving extraordinary growth while others face difficulties [1].

Investment Rating - Industry rating: Outperform the market (maintained rating) [9] Core Insights - The pet industry is experiencing significant growth, with the Asia Pet Expo showcasing over 2,600 exhibitors and 20,000 brands, indicating a thriving market driven by globalization and innovation [2][13] - China's pet food exports have shown continuous growth, with 201,000 tons exported from January to July 2025, reflecting a year-on-year increase of 6.64% [14] - The pig farming sector is facing challenges, with the average pig price at 13.82 yuan/kg, a decrease of 3.63% from the previous week, and the average weight of pigs reaching a historical high [15][16] - The dairy sector is poised for a recovery, with the original milk price expected to rebound as production capacity decreases after a prolonged period of losses [17][18] - The poultry sector is focusing on breeding gaps, with a significant decline in the import of breeding chickens due to avian influenza concerns, which may impact future supply [19][20] - The planting sector emphasizes food security and the importance of biotechnology, with a focus on high-yield and resilient crop varieties [25] - The feed sector is recommended for investment, particularly in companies like Haida Group, which is expected to benefit from market recovery and increased market share [26] Summary by Sections Pet Sector - The Asia Pet Expo has reached a record scale of 310,000 square meters, highlighting the industry's vitality and innovation potential [2][13] - Pet food exports from China have increased, with a total of 201,000 tons exported in the first seven months of 2025, showing a year-on-year growth of 6.64% [14] - Recommended companies include pet food brands like Guibao Pet, Zhongchong Co., and Petty Co. [14] Pig Sector - The average pig price is currently at 13.82 yuan/kg, with a year-to-date low in profitability for pig farming [15][16] - The average weight of pigs is at a historical high, indicating supply pressures [15] - Recommended companies include leading pig farming firms such as Wens Foodstuffs Group and Muyuan Foods [16] Dairy Sector - Yuran Dairy reported stable performance with a revenue of 10.3 billion yuan, showing a year-on-year growth of 2.3% [17] - The dairy industry is expected to see a recovery as production capacity decreases [18] - Recommended companies include Yuran Dairy and China Shengmu Organic Milk [18] Poultry Sector - The poultry sector is facing challenges with breeding imports, particularly for white chickens, due to avian influenza [19][20] - Recommended companies include Shennong Development and Yisheng Livestock [20] Planting Sector - The focus is on food security and biotechnology, with an emphasis on high-yield and resilient crop varieties [25] - Recommended companies include Longping High-Tech and Dabeinong Technology Group [25] Feed Sector - Haida Group is highlighted as a key investment opportunity due to its increasing market share and performance [26] - The animal health sector is also recommended, particularly companies like Kexin Biological [27]