Group 1 - The company announced a change in the source of conversion for its "He Feng Convertible Bonds" from "newly issued shares" to "prioritize the use of repurchased shares for conversion, with any shortfall covered by newly issued shares" [2]

| 证券代码：603609 | 证券简称：禾丰股份 | 公告编号：2025-121 | | --- | --- | --- | | 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"禾丰转债"变更转股股份来源的公告 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。 二、禾丰转债转股情况 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，累计转股数量为 3,229,417 股，占可转债转股前公司已发行股份总额的 0.35%。尚未转股的"禾丰转债"金额为 1,466,863,000 元，占"禾丰转债"发 1 重要内容提示： 禾丰食品股份有限公司（以下简称"公司"）拟将"禾丰转债"的转股 来源由"新增股份"变更为"优先使用回购股份转股，不足部分使用新增股份"。 一、可转债发行上市概况 经中国证券监督管理委员会证监许可[2022]662 号文核准，公司于 2022 年 4 月 22 日公开发行了 1,500 万张可转换公司债券，每张面值 100 元，发 ...

Group 1 - The company plans to repurchase shares using self-owned and self-raised funds, with a total repurchase amount not exceeding RMB 200 million and not less than RMB 100 million [2] - The company has signed a loan agreement with Bank of China Liaoning Branch to provide a loan of up to RMB 200 million for the share repurchase, with a loan term of 12 months [2] - The company has repurchased a total of 17,303,064 shares, accounting for 1.90% of the total share capital, with a total payment of RMB 145.4592 million (excluding transaction fees) [3] Group 2 - The loan agreement's term has been extended from 12 months to 36 months, while the loan purpose remains unchanged [4]

禾丰食品股份有限公司（以下简称"公司"）于 2024 年 10 月 30 日披露了 《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 "提质增效重回报"行动方案的公告》（公告编号：2024-086），公司拟使用自 有资金及自筹资金以集中竞价交易的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）。 公司于 2024 年 11 月 1 日披露了《禾丰股份关于签署股票回购专项借款合同 的公告》（公告编号：2024-087），中国银行股份有限公司辽宁省分行同意为公 司股份回购事项提供不超过人民币 2 亿元的贷款额度，借款期限 12 个月。 | 证券代码：603609 | 证券简称：禾丰股份 | 公告编号：2025-120 | | --- | --- | --- | | 债券代码：113647 | 债券简称：禾丰转债 | | 禾丰食品股份有限公司 关于股票回购专项借款展期的公告 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。 一、股份回购基 ...

Core Viewpoint - He Feng Co., Ltd. has signed a supplementary contract with Bank of China Liaoning Branch to extend the loan term from 12 months to 36 months while keeping the loan purpose unchanged [1] Group 1 - The company has entered into a supplementary contract regarding its stock repurchase loan agreement [1] - The original loan term was set for 12 months, which has now been extended to 36 months [1] - The purpose of the loan remains the same as initially agreed [1]

Core Viewpoint - He Feng Co., Ltd. (禾丰股份) has shown a positive trend in financing activities, with a net financing purchase of 67.85 million yuan on November 19, 2025, indicating strong investor interest [1][4]. Financing Activities - On November 19, 2025, the financing buy amounted to 499.39 million yuan, while financing repayment was 431.55 million yuan, resulting in a net financing purchase of 67.85 million yuan [1]. - The financing balance reached 1.37 billion yuan, with a net increase of 138.77 million yuan over the last three trading days and 14 out of the last 20 trading days showing net financing purchases [1][4]. Margin Trading - On the same day, the margin trading saw a sell-off of 3,800 shares, with a net sell of 3,300 shares, leading to a margin balance of 101.68 million yuan [2][3]. - The margin balance has shown fluctuations, with a total of 12.92 million shares remaining in the margin trading account [3]. Market Sentiment - The increase in financing balance by 0.52% on November 19, 2025, suggests a bullish market sentiment, as investors are leaning towards buying [4][5]. - The overall trend indicates that the market is currently more favorable for buyers, as evidenced by the consistent net financing purchases over the recent trading days [1][5].

Group 1 - The company announced the resignation of Mr. Chen Yu from his position as a non-independent director due to internal governance structure adjustments, effective immediately upon receipt of his resignation letter [2] - Mr. Chen's resignation will not affect the minimum number of directors required by law, nor will it impact the normal operation and governance of the company's board [2] - The company held its first employee representative meeting on November 17, 2025, where Mr. Chen was elected as the employee representative director for the eighth board, serving until the term of the board ends [3] Group 2 - Mr. Chen Yu meets the qualifications and conditions for serving as an employee representative director as stipulated by the Company Law and the company's articles of association [3] - Following Mr. Chen's election, the eighth board will consist of nine directors, with the number of directors who are also senior management and employee representatives not exceeding half of the total board members, in compliance with relevant laws and regulations [3] - Mr. Chen holds a master's degree from Shanghai University of Finance and Economics and has a background in auditing and financial management, currently serving as the company's board secretary and financial director [5]

Core Viewpoint - He Feng Co., Ltd. has elected Mr. Chen Yu as the employee representative director for its eighth board of directors [1] Company Summary - He Feng Co., Ltd. announced the election of Mr. Chen Yu as a member of its board, indicating a potential shift in governance and representation [1]

Core Insights - The feed sector experienced a slight increase of 0.07% on November 17, with Tianma Technology leading the gains [1] - The Shanghai Composite Index closed at 3972.03, down 0.46%, while the Shenzhen Component Index closed at 13202.0, down 0.11% [1] Feed Sector Performance - Tianma Technology (603668) closed at 15.33, up 6.16% with a trading volume of 898,500 shares and a transaction value of 1.402 billion [1] - Other notable performers included: - Zhongchong Co., Ltd. (002891) at 59.69, up 3.86% [1] - Zhenghong Technology (000702) at 7.65, up 1.06% [1] - Petty Holdings (300673) at 17.70, up 0.91% [1] - Guibao Pet (301498) at 72.62, up 0.54% [1] Capital Flow Analysis - The feed sector saw a net outflow of 118 million from institutional investors and 78.86 million from retail investors, while retail investors had a net inflow of 197 million [2] - The capital flow for key stocks included: - Tianma Technology had a net inflow of 1.03 billion from institutional investors, but a net outflow of 130 million from retail investors [3] - Haida Group (002311) had a net inflow of 11.08 million from institutional investors [3] - Other stocks like Petty Holdings and Zhenghong Technology experienced net outflows from institutional investors [3]

| | 离任职 | | 原定任 期到期 | 离任原因 | 是否继续在 上市公司及 | 具体职务 | 是否存 在未履 行完毕 | | --- | --- | --- | --- | --- | --- | --- | --- | | 姓名 | 务 | 离任时间 | 日 | | 其控股子公 司任职 | | 的公开 承诺 | | | 非独立 | 2025 年 11 | 2027 年 2 | 公司内部 | | 本公司职 工代表董 | | | 陈宇 | 董事 | 月 17 日 | 月 1 日 | 治理结构 调整 | 是 | 事、董事 会秘书、 财务总监 | 否 | （二）离任对公司的影响 禾丰食品股份有限公司（以下简称"公司"）董事会于 2025 年 11 月 17 日收 到陈宇先生提交的书面辞职报告。因公司内部治理结构调整，陈宇先生申请辞去 公司第八届董事会非独立董事职务。该辞职报告自送达公司董事会之日起生效。 陈宇先生辞任非独立董事职务不会导致公司董事会成员低于法定最低人数，不会 影响公司董事会的正常运行，亦不会对公司的规范运作和日常运营产生不利影响。 | 证券代码：603609 | 证券简称：禾丰股份 | 公告编 ...