证券代码：605296 证券简称：神农集团 公告编号：2025-111 云南神农农业产业集团股份有限公司 2025年第四次临时股东会决议公告 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： 本次会议是否有否决议案：无 一、 会议召开和出席情况 (一)股东会召开的时间：2025 年 9 月 12 日 (二)股东会召开的地点：云南省昆明市盘龙区东风东路 23 号昆明恒隆广场办公 楼 39 层会议室 (三)出席会议的普通股股东和恢复表决权的优先股股东及其持有股份情况： | 1、出席会议的股东和代理人人数 | 359 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 456,765,152 | | 3、出席会议的股东所持有表决权股份数占公司有表决权股 | | | 份总数的比例（%） | 87.0751 | (四)表决方式是否符合《公司法》及《公司章程》的规定，会议主持情况等。 本次股东会由公司董事会召集，公司董事长何祖训先生主持。本次股东会的 召集、召开及表决方式符合《中华人民共和 ...

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 2025 年第四次临时股东会的 法律意见 北京德恒（昆明）律师事务所 Beijing DeHeng Law Offices (KunMing) 云南省昆明市西山区西园路 126 号"融城优郡"B5 幢 3、4 层 电话（传真）：0871-63172192 邮编: 650032 关于云南神农农业产业集团股份有限公司 北京德恒（昆明）律师事务所 2025 年第四次临时股东会的法律意见 北京德恒（昆明）律师事务所 根据贵公司提供的有关资料及公开披露的信息，表明贵公司董事会已于2025 年8月26日召开了会议，作出了关于召开本次股东会的决议，并于2025年8月27日 在《中国证券报》《上海证券报》《证券时报》《证券日报》及上海证券交易所网 站（http//www.sse.com.cn）等媒体刊登了召开本次股东会的通知。 本次股东会现场会议于2025年9月12日14:00在云南省昆明市盘龙区东风东 路23号昆明恒隆广场办公楼39层会议室召开，会议召开时间与通知公告时间间隔 15天以上，会议召开的具体时间、地点和审议事项也与公告内容一致。 本次股东会由贵公 ...

神农集团所属申万行业为：农林牧渔-养殖业-生猪养殖。所属概念板块包括：猪肉概念、中盘、饲料、 预制菜、增持回购等。 截至9月10日，神农集团股东户数2.07万，较上期增加3.64%；人均流通股25338股，较上期减少3.52%。 2025年1月-6月，神农集团实现营业收入27.98亿元，同比增长12.16%；归母净利润3.88亿元，同比增长 212.65%。 分红方面，神农集团A股上市后累计派现3.31亿元。近三年，累计派现1.31亿元。 机构持仓方面，截止2025年6月30日，神农集团十大流通股东中，香港中央结算有限公司位居第六大流 通股东，持股204.72万股，为新进股东。银华农业产业股票发起式A（005106）位居第七大流通股东， 持股168.43万股，相比上期减少12.47万股。博时消费创新混合A（010326）位居第八大流通股东，持股 116.39万股，为新进股东。国泰中证畜牧养殖ETF（159865）位居第九大流通股东，持股104.78万股， 相比上期增加10.42万股。银华同力精选混合（009394）、永赢消费主题A（006252）退出十大流通股东 之列。 9月12日，神农集团盘中上涨2.06% ...

Investment Rating - The report maintains a "Positive" investment rating for the agricultural products industry [13]. Core Insights - The swine breeding industry is transitioning from a rapid growth phase to a stable phase, with medium to long-term capacity control becoming the new norm, positively impacting the industry. Profits for quality enterprises are expected to significantly increase, with a favorable long-term outlook for the sector [4][21]. - Key recommendations include Muyuan Foods, Wens Foodstuff Group, Dekang Agriculture, Shennong Group, and Juxing Agriculture in the swine breeding sector. In the pet food segment, the report highlights the rapid growth of domestic brands such as Guibao Pet and Zhongchong Co., Ltd. The feed industry is also experiencing a recovery, with Haida Group's domestic market share increasing and overseas business growing rapidly [4][21]. Summary by Sections Swine Breeding - In the first half of 2025, the revenue of listed companies in the swine breeding sector increased by 19% year-on-year, with a non-recurring net profit growth of 512%. The average swine price decreased by 4% year-on-year, but profits surged due to improved breeding costs. The industry's free cash flow improved significantly, totaling approximately 18.3 billion yuan, compared to a negative 3.7 billion yuan in the same period last year [8][23]. - The average profit for self-breeding and self-raising was about 73 yuan per head, a significant improvement from a loss of 25 yuan per head in the previous year [23]. Feed Industry - The feed sector saw a revenue increase of 13% year-on-year in the first half of 2025, with a 70.9% increase in non-recurring net profit. The total feed production reached 159 million tons, up 8% year-on-year. Haida Group's feed sales volume grew by 26% year-on-year, and the company is expected to see further growth in shrimp and crab feed in the third quarter [9][22]. Pet Food - The pet food sector's revenue grew by 22.4% year-on-year in Q2 2025, with a 19.2% increase in non-recurring net profit. Domestic sales for Guibao Pet and Zhongchong Co., Ltd. are expected to grow by over 40% in Q2. However, exports of pet snacks faced a decline due to tariffs, with a 52% drop in exports to the U.S. [10][22].

Group 1 - The aquaculture sector increased by 4.16% on September 11, with Lihua Co., Ltd. leading the gains [1] - The Shanghai Composite Index closed at 3875.31, up 1.65%, while the Shenzhen Component Index closed at 12979.89, up 3.36% [1] - Key stocks in the aquaculture sector showed significant price increases, with Lihua Co., Ltd. rising by 13.96% to a closing price of 23.92 [1] Group 2 - The main capital flow in the aquaculture sector showed a net outflow of 583 million yuan from institutional investors, while retail investors had a net inflow of 660 million yuan [1] - Specific stock performances included New Hope with a net inflow of 4.11 million yuan from institutional investors, but a net outflow of 43.15 million yuan from speculative funds [2] - Other notable stocks included Dongrui Co., Ltd. with a net inflow of 1.49 million yuan from institutional investors and a net outflow of 17.04 million yuan from speculative funds [2]

Industry Overview - Pork concept stocks experienced a strong rally on the 11th, with Lihua Co. rising approximately 13%, reaching a nearly one-year high; Tiankang Biological and Muyuan Foods increased over 7%, while Wens Foodstuff and Shennong Group rose about 6% [1] - As of September 7, the national average price of live pigs was 13.64 yuan/kg, with prices fluctuating within a narrow range during the week [1] Supply and Demand Dynamics - Institutions indicate that the supply side is experiencing a temporary tightening due to reduced output from group farms at the beginning of the month; however, the goal of reducing weight at group farms has not yet been achieved, coupled with an increase in the inventory levels of standard pigs and large pigs, leading to persistent oversupply pressure [1] - Demand is not expected to improve significantly in the short term, suggesting a continued imbalance with strong supply and weak demand [1] Future Projections - An increase in pig production capacity is anticipated from May 2024, with a peak expected in the second half of 2025, alongside a rise in the number of newborn piglets in the first half of 2025 [1] - Supply pressure is expected to be significant in the second half of the year, particularly in the fourth quarter; however, under policy guidance, the decline in pork prices may be relatively moderated [1] Policy Implications - Zhongyou Securities notes that the government has repeatedly emphasized controlling production capacity, reducing weight, and limiting secondary breeding, aiming to guide the pork market towards "high-quality development," reflecting the government's determination to regulate pork production capacity and stabilize prices [1] - The supply of pigs in the second half of 2025 will be determined by production capacity from the second half of 2024 to the first half of 2025, with the effects of policies expected to manifest around the second half of 2026, potentially raising the price center of pork [1] Company Performance - There are significant cost differences among companies, with outstanding companies still able to achieve profitability; it is recommended to prioritize companies with cost advantages [1]

Group 1 - The core viewpoint of the article highlights a collective rise in A-share pork stocks, driven by upcoming regulatory measures aimed at controlling pig production capacity [1] - The Ministry of Agriculture and Rural Affairs, in collaboration with the National Development and Reform Commission, is set to hold a meeting on September 16 to discuss pig production capacity control with 25 major companies [1] - The meeting will analyze the current pig production situation and share measures and results from pig farming enterprises regarding capacity control [1] Group 2 - Leading stocks such as Lihua Shares saw an increase of 11.86%, with a market capitalization of 19.7 billion, and a year-to-date increase of 24.49% [2] - Bangji Technology experienced a 9.99% rise, reaching a market cap of 4.816 billion, with a remarkable year-to-date increase of 185.72% [2] - Other notable performers include Tian Kang Biological, Mu Yuan Shares, and Wen's Shares, which rose over 6%, with market caps of 9.966 billion, 316.6 billion, and 132.3 billion respectively [2]

Group 1 - The core viewpoint of the news is the strong performance of pork stocks in the early trading session on September 11, with notable gains observed in several companies [1][2] - Leading the gains, Lihua Co., Ltd. saw an increase of over 10% in its stock price [1] - Other companies in the pork sector, including Wens Foodstuff Group, Muyuan Foods, Shennong Group, Dongrui Co., Ltd., and Juxing Agriculture, also experienced upward movement in their stock prices [1]

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。 云南神农农业产业集团股份有限公司（以下简称"公司"）于 2025 年 4 月 25 日召开第四届董事会第三十一次会议和第四届监事会第二十六次会议、2025 年 6 月 20 日召开第五届董事会第二次会议和第五届监事会第二次会议、2025 年 7 月 10 日召开 2025 年第二次临时股东会，审议通过了《关于回购注销部分限制 性股票的议案》《关于变更注册资本并修订<公司章程>的议案》等议案，同意公 司回购注销部分激励对象已获授予但尚未解除限售的限制性股票 27.4594 万股， 公司注册资本由 52,483.9012 万元变更为 52,456.4418 万元，根据该等变化和相 关法律法规修订《公司章程》部分条款。具体内容详见公司于 2025 年 4 月 29 日在上海证券交易所网站（www.sse.com.cn）及指定信息披露媒体上披露的《云 南神农农业产业集团股份有限公司关于回购注销部分限制性股票的公告》（公告 编号：2025-047）、2025 年 6 月 21 日在上海证券 ...

Group 1 - The agricultural sector showed strong performance on September 8, with notable gains in pork and chicken stocks, including Aonong Biological and Tianyu Biological reaching the daily limit, and Lihua Co., Ltd. rising over 6% [1] - On September 5, the Ministry of Commerce of China announced the recognition of dumping in imported pork and pork by-products from the EU, deciding to implement temporary anti-dumping measures in the form of a deposit starting from September 10, 2025, with rates ranging from 15.6% to 62.4% [1] - The import of pork and pork by-products from the EU accounts for over 50% of China's total imports, and the anti-dumping deposit is expected to drive domestic pork prices higher due to increased costs and reduced supply [1] Group 2 - As of September 5, 2025, the national average price of live pigs was 13.79 yuan/kg, reflecting a week-on-week increase of 0.08 yuan/kg [2] - The average weight of pigs sold from the sample was 128.23 kg per head, with a week-on-week increase of 0.4 kg and a year-on-year increase of 1.5 kg [2] - The market outlook suggests that as temperatures cool, demand is expected to improve, leading to tighter supply of large pigs and potential upward movement in pork prices [2]