证券代码：605296 证券简称：神农集团 公告编号：2025-103 云南神农农业产业集团股份有限公司 云南神农农业产业集团股份有限公司（以下简称"公司"）董事会于 2025 年 8 月 26 日收到舒猛先生的书面辞职报告，舒猛先生因个人原因申请辞去公司 财务总监职务。辞去财务总监职务后舒猛先生不再担任公司任何职务。 一、财务总监离任情况 (一) 提前离任的基本情况 | | | | | 原定任期到 | | 是否继续在上 | 是否存在未 | | --- | --- | --- | --- | --- | --- | --- | --- | | 姓名 | 离任职务 | 离任时间 | | 期日 | 离任原因 | 市公司及其控 | 履行完毕的 | | | | | | | | 股子公司任职 | 公开承诺 | | 舒猛 | 财务总监 | 2025 年 8 | 月 | 2028 年 5 月 | 个人原因 | 否 | 否 | | | | 26 日 | | 19 日 | | | | (二) 离任对公司的影响 根据《中华人民共和国公司法》（以下简称"《公司法》"）及《公司章程》的 规定，舒猛先生上述辞职事项自书面辞职报告送达董 ...

Market Performance - The three major indices showed mixed results, with the Shanghai Composite Index down 0.39%, the Shenzhen Component Index up 0.26%, and the ChiNext Index down 0.76% [2] - Over 2,700 stocks rose in the two markets, with a total trading volume of approximately 2.68 trillion yuan [3] Apple Supply Chain Stocks - Apple-related stocks experienced significant movements, with GoerTek (002241.SZ) and Lingyi iTech (002600.SZ) rising by 10%, and Luxshare Precision (002475.SZ) increasing by over 6% [3] - GoerTek, as a leading player in the Apple supply chain, has benefited from the AI wave, achieving six consecutive quarters of year-on-year growth in net profit attributable to shareholders from Q1 2024 to Q2 2024 [3] Consumer Electronics Sector - The high demand in the consumer electronics sector is attributed to both AI stimulation and domestic "national subsidy" policies, which are reviving mid-range consumption and driving structural recovery in mobile phones and tablets [3] Livestock Industry - Livestock stocks showed strong performance, with Xiaoming Co. (300967.SZ) rising over 10% and Muyuan Foods (002714.SZ) increasing by over 7% [3] - The National Development and Reform Commission reported that the average pig-to-grain price ratio fell below 6:1, entering a warning zone, prompting the government to initiate central frozen pork reserves [4] Gaming Sector - The gaming sector saw positive movements, with 37 Interactive Entertainment (002555.SZ) rising by 10% and other companies like Digital Soul (603258.SZ) and Giant Network (002558.SZ) also increasing [4] - A report from Guotai Junan highlighted that the National Press and Publication Administration approved a record 166 domestic online games on August 25, 2025, indicating a stable approval rhythm and a rich supply of gaming products [4] Beauty and Personal Care Sector - The beauty and personal care sector performed well, with Shuiyang Co. (300740.SZ) rising over 10% and other companies like Proya Cosmetics (603605.SH) and Huaxi Biological (688363.SH) also increasing [5] - According to a report from Dongfang Securities, the domestic cosmetics industry is entering a phase of steady and high-quality development, driven by economic growth, demographic shifts, cultural confidence, and the rise of domestic brands [5] Declining Sectors - The banking, securities, and semiconductor sectors faced declines, with companies like Chipone Technology (688521.SH) dropping over 9% and Haiguang Information (688041.SH) down over 6% [5] - The military and rare earth sectors also weakened, with China Rare Earth (000831.SZ) and Northern Rare Earth (600111.SH) falling nearly 7% [5]

Group 1 - A-shares main indices continue to strengthen, with the Shenzhen Component Index rising nearly 0.5%, and both the ChiNext Index and Shanghai Composite Index turning positive after previously dropping over 1% [1] - Sectors such as gaming, Huawei Ascend, and aquaculture saw significant gains, with nearly 3,100 stocks in the Shanghai and Shenzhen markets rising [1] Group 2 - Notable stock performances include: - Aonong Biological (603363) up 10.08% with a market cap of 10.8 billion and a year-to-date increase of 17.23% - Muyuan Foods (002714) up 8.12% with a market cap of 303.5 billion and a year-to-date increase of 46.46% - Lihua Agricultural (300761) up 4.58% with a market cap of 1.74 billion and a year-to-date increase of 9.59% - Tiankang Biological (002100) up 4.53% with a market cap of 944.8 million and a year-to-date increase of 9.32% [2]

Core Viewpoint - The legal opinion from Beijing Deheng (Kunming) Law Firm confirms the legality, compliance, authenticity, and effectiveness of the stock repurchase and cancellation by Yunnan Shennong Agricultural Industry Group Co., Ltd. [1][2][16] Group 1: Legal Framework and Compliance - The legal opinion is based on various laws and regulations, including the Company Law, Securities Law, and relevant management measures [1][4][16] - The law firm has verified that the documents provided by the company are true, accurate, complete, and effective [2][4][16] Group 2: Stock Repurchase Details - The total number of restricted stocks to be repurchased and canceled is 274,594 shares, which includes stocks from both initial and reserved grant recipients [15][16] - The repurchase price is set at 13.72 RMB per share, with a total amount of approximately 3.7674 million RMB sourced from the company's own funds [16][17] Group 3: Approval and Authorization - The stock repurchase has received necessary approvals and authorizations as per the relevant regulations and the company's articles of association [16][17] - The independent directors and supervisory board have provided their consent regarding the stock repurchase and cancellation [5][10][15]

Core Viewpoint - The company, Yunnan Shennong Agricultural Industry Group Co., Ltd., announced the repurchase and cancellation of a total of 274,594 restricted stocks due to various reasons including employee departures and unmet performance criteria [1][4][5]. Summary by Sections Repurchase and Cancellation Reasons - The repurchase and cancellation of restricted stocks are based on the "Management Measures for Equity Incentives of Listed Companies" and the company's "2022 Restricted Stock Incentive Plan (Revised)" [1]. - A total of 8 initial incentive recipients lost their qualification due to resignation, leading to the cancellation of 37,050 shares [3]. - 48 initial incentive recipients did not meet the 2024 personal performance assessment requirements, resulting in the cancellation of 136,344 shares [1][4]. - 23 reserved incentive recipients also lost their qualification due to resignation, leading to the cancellation of 51,500 shares [1][4]. - One reserved incentive recipient passed away, resulting in the cancellation of 1,500 shares [1][4]. - 57 reserved incentive recipients did not meet the performance criteria, leading to the cancellation of 48,200 shares [1][4]. - In total, 274,594 shares are to be repurchased and canceled [1][4]. Details of the Repurchase - The decision for the repurchase was approved in meetings held on April 25, 2025, with a repurchase price set at 13.72 yuan per share [2][5]. - The total amount involved in the repurchase is approximately 3.7674 million yuan, funded entirely by the company's own resources [5]. - The repurchase involves 56 initial incentive recipients and 81 reserved incentive recipients [5]. Changes in Share Structure - Before the repurchase, the total number of shares was 524,839,012, with 524,564,418 shares having no restrictions [6]. - After the repurchase, the total number of shares will be reduced to 524,564,418, with all restricted shares canceled [6]. Legal Compliance and Commitments - The company confirmed that the decision-making process and information disclosure comply with relevant laws and regulations [6][7]. - The company has committed to bearing any legal responsibilities arising from disputes related to the repurchase [7]. - Legal opinions from Beijing Deheng (Kunming) Law Firm affirm that the repurchase has received necessary approvals and complies with applicable laws [7].

云南神农农业产业集团股份有限公司 股权激励限制性股票回购注销实施公告 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。 证券代码：605296 证券简称：神农集团 公告编号：2025-100 1、回购注销原因 重要内容提示： ●回购注销原因：根据《上市公司股权激励管理办法》（以下简称"《管理 办法》"）等法律法规及公司《2022年限制性股票激励计划（修订稿）》（以下简称 "《激励计划》"或"本激励计划"）的相关规定以及2021年年度股东大会的授 权，本激励计划8名首次授予激励对象因离职而不再具备激励对象资格，其所持 有的尚未解除限售的限制性股票共计37,050股应由公司回购注销；48名首次授予 激励对象2024年度个人层面绩效考核要求未达标或未完全达标，所涉136,344股 不符合解除限售条件的限制性股票应由公司回购注销；23名预留激励对象因离职 而不再具备激励对象资格，其所持有的尚未解除限售的共计51,500股限制性股票 应由公司回购注销；1名预留授予激励对象身故，其所持有的尚未解除限售的 1,500股限制性股票应由公司回购注 ...

Core Viewpoint - Yunnan Shennong Agricultural Industry Group Co., Ltd. is proceeding with the repurchase and cancellation of certain restricted stock options as part of its 2022 incentive plan, following necessary approvals and legal opinions [1][2]. Summary by Relevant Sections Authorization and Approval - The repurchase and cancellation of restricted stocks have received the necessary authorizations through multiple board meetings and shareholder meetings from April 2022 to July 2025 [2]. Reasons for Repurchase and Cancellation - The reasons for the repurchase include: - Personnel changes: 8 individuals lost eligibility due to resignation, involving 37,050 shares; 23 individuals also resigned, involving 51,500 shares; and 1 individual passed away, involving 1,500 shares [3]. - Performance issues: 48 individuals did not meet performance standards, involving 136,344 shares; 57 individuals from the reserved grant also did not meet standards, involving 48,200 shares [3]. Total Shares and Financial Details - A total of 274,594 shares will be repurchased and canceled, which includes: - 173,394 shares from the initial grant, representing 4.3275% of the total initial grant and 0.0330% of the total share capital before cancellation. - 101,200 shares from the reserved grant, representing 10.8467% of the total reserved grant and 0.0193% of the total share capital before cancellation [4]. - The repurchase price is set at 13.72 yuan per share, totaling approximately 3.7674 million yuan, funded entirely from the company's own resources [4]. - After the repurchase, there will be no remaining restricted stocks under the incentive plan [4].

证券代码：605296 证券简称：神农集团 公告编号：2025- 100 云南神农农业产业集团股份有限公司 股权激励限制性股票回购注销实施公告 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： ●回购注销原因：根据《上市公司股权激励管理办法》（以下简称"《管理办 法》"）等法律法规及公司《2022年限制性股票激励计划（修订稿）》（以下简称 "《激励计划》"或"本激励计划"）的相关规定以及2021年年度股东大会的授权， 本激励计划8名首次授予激励对象因离职而不再具备激励对象资格，其所持有的 尚未解除限售的限制性股票共计37,050股应由公司回购注销；48名首次授予激励 对象2024年度个人层面绩效考核要求未达标或未完全达标，所涉136,344股不符 合解除限售条件的限制性股票应由公司回购注销；23名预留激励对象因离职而不 再具备激励对象资格，其所持有的尚未解除限售的共计51,500股限制性股票应由 公司回购注销；1名预留授予激励对象身故，其所持有的尚未解除限售的1,500股 限制性股票应由公司回购注销；57名预留授 ...

北京德恒（昆明）律师事务所 关于云南神农农业产业集团股份有限公司 2022 年限制性股票激励计划 部分限制性股票回购注销的法律意见 云南省昆明市西山区西园路 126 号"融城优郡"B5 幢 3 层 电话:0871-63172192 传真: 0871-63172192 邮编: 650021 关于云南神农农业产业集团股份有限公司 2022 年限制性股票激励计划 北京德恒（昆明）律师事务所 部分限制性股票回购注销的法律意见 释 义 本法律意见中，除非文中另有所指，下列简称具有如下特定含义： | 神农集团、公司 | 指 | 云南神农农业产业集团股份有限公司 | | --- | --- | --- | | 本次激励计划、《激励 | 指 | 《云南神农农业产业集团股份有限公司 2022 年限 | | 计划》 | | 制性股票激励计划（修订稿）》 | | 首次授予 | 指 | 云南神农农业产业集团股份有限公司 年限制 2022 | | | | 性股票激励计划的首次授予 | | 本次回购注销 | 指 | 回购注销部分限制性股票 | | 限制性股票 | 指 | 符合本次激励计划授予条件的激励对象，在满足相 | | | | 应归 ...

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]