Group 1: Company Overview and Strategy - The company has established a wholly-owned subsidiary, "Yingyunzhidi," to enter the optional spiritual consumption sector, aiming to provide emotional value through IP operations [3] - The market for cultural consumption is growing, with a shift towards personalized demands and self-expression, indicating a significant market opportunity for back-end IP operations [3][5] - The company plans to explore the IP operation field continuously and validate its capabilities through practical actions [3] Group 2: Competitive Advantage - "Yingyunzhidi" has a strong core team with extensive experience in IP operations, covering areas such as IP identification, event planning, product design, and supply chain management [4][5] - The company’s competitive edge lies in its ability to quickly facilitate authorized cooperation and effectively push IP to target audiences for commercial returns [5] - Strong traffic management capabilities allow the company to convert user traffic into private domains, achieving precise user engagement and customer acquisition [5] Group 3: Products and Services - The company offers back-end operational services for IP, including derivative product design, large-scale offline events, and user operations, aiming for long-term deep integration with IP [5][6] - Currently, the company has over 50 IPs available for cooperation and plans to add more than 10 new IPs in the coming year [6] Group 4: Financial Health and Future Plans - As of the end of Q1 2025, the company's debt-to-asset ratio is approximately 59%, with interest-bearing debt below 20%, indicating a stable financial condition [8] - The company will continue to invest in its stable pig farming business while also accelerating the new light-asset IP operation business, which is expected to create significant profits and become a second growth line [8]

Core Viewpoint - The company held its 8th temporary meeting of the 11th Board of Directors, where several key resolutions were passed regarding the appointment of board members and senior management to ensure smooth operations and enhance management efficiency [1][2]. Group 1: Board Resolutions - The board approved the proposal to supplement a non-independent director, nominating Mr. Wu Zhijun as a candidate, pending approval at the shareholders' meeting [1][2]. - The board also approved the appointment of members to various specialized committees, including Mr. Fu Yan, Mr. Chen Jiarong, and Mr. Cai Xinping, to ensure orderly operations of the committees [2]. - All resolutions received unanimous support with 6 votes in favor, and no votes against or abstentions [2]. Group 2: Senior Management Appointments - The board approved the appointment of senior management personnel to enhance operational efficiency and management effectiveness in modern agriculture and new IP operations [2]. - Mr. Chen Jiarong was appointed as the President, Mr. Cai Xinping as Co-President, Mr. Gu Bin as Vice President and CFO, Mr. Shang Pengchao as Vice President, and Mr. Lan Di as Secretary of the Board [2][5][8][10][11]. - The term for these appointments is effective from the board's approval until the end of the 11th Board of Directors' term [2].

证券代码：000048 证券简称：京基智农 公告编号：2025-022 深圳市京基智农时代股份有限公司 第十一届董事会第八次临时会议决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记 载、误导性陈述或重大遗漏。 2025 年 5 月 16 日上午 10:00，深圳市京基智农时代股份有限公司（以下简称 "公司"）第十一届董事会第八次临时会议以通讯方式召开。根据公司《董事会 议事规则》相关规定，经全体董事同意，本次会议豁免通知时限要求，会议通知 于 2025 年 5 月 15 日以通讯方式送达各位董事。本次应参会董事 6 名，实际参会 董事 6 名。会议由董事长陈家荣先生主持。会议的召开和表决程序符合《公司法》 和《公司章程》等有关规定。经与会董事认真审议并投票表决，本次会议形成以 下决议： 一、审议通过《关于补选第十一届董事会非独立董事的议案》 鉴于公司董事会成员存在空缺，为保障公司董事会各项工作的顺利开展，根 据《公司法》《深圳证券交易所上市公司自律监管指引第 1 号——主板上市公司 规范运作》等法律法规、规范性文件及《公司章程》等有关规定，现拟补选第十 一届董事会非独立董事并提名 ...

证券代码：000048 证券简称：京基智农 公告编号：2025-021 深圳市京基智农时代股份有限公司 董事、总裁辞职公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记 载、误导性陈述或重大遗漏。 深圳市京基智农时代股份有限公司（以下简称"公司"）董事会于 2025 年 5 月 15 日收到公司董事、总裁巴根先生提交的书面辞职信，巴根先生因个人原因辞去 公司第十一届董事会董事及公司总裁职务，同时辞去第十一届董事会审计委员会、 提名委员会及战略委员会委员职务。辞职以后，巴根先生不再担任公司任何职务。 特此公告。 深圳市京基智农时代股份有限公司 根据《公司法》《深圳证券交易所上市公司自律监管指引第 1 号——主板上市 公司规范运作》和《公司章程》等相关规定，巴根先生的辞职未导致公司董事会成 员低于法定人数，其辞职自辞职信送达公司董事会时生效。 截至本公告披露日，巴根先生未持有公司股份。巴根先生在担任公司董事及总 裁期间，恪尽职守，勤勉尽责，在公司战略执行、经营管理、团队建设以及公司规 范运作等方面做出了重要贡献。公司及董事会对巴根先生为公司做出的努力和贡 献表示衷心感谢！ 董事会 二〇二五 ...

Group 1 - The company sold 186,600 pigs in April 2025, including 23,200 piglets, generating sales revenue of 343 million yuan, with an average selling price of 15.19 yuan/kg for commercial pigs [2] - From January to April 2025, the company sold a total of 678,000 pigs, including 102,700 piglets, with cumulative sales revenue of 1.222 billion yuan [3] - The sales data provided is unaudited and may differ from the figures disclosed in regular reports, serving only as a reference for investors [3] Group 2 - The company operates in the pig farming industry, which is subject to market price fluctuations that can significantly impact operational performance [4] - The industry also faces risks from animal diseases, which can adversely affect the company's business performance [4]

证券代码：000048 证券简称：京基智农 公告编号：2025-020 深圳市京基智农时代股份有限公司（以下简称"公司"）下属公司从事生猪 养殖业务，按照《深圳证券交易所上市公司自律监管指引第3号——行业信息披露》 规定，深交所鼓励从事畜禽、水产养殖业务的上市公司每月通过临时公告形式披 露相关业务销售情况，公司参照该指引披露生猪销售情况。 一、2025年4月生猪销售情况 2025年4月，公司销售生猪18.66万头（其中仔猪2.32万头），销售收入3.43亿 元；商品猪销售均价15.19元/kg。 2025年1-4月，公司累计销售生猪67.80万头（其中仔猪10.27万头），累计销售 收入12.22亿元。 上述销售数据未经审计，与定期报告披露的数据之间可能存在差异，因此上 述数据仅作为阶段性数据供投资者参考。 | 月份 | 生猪销售数量（万头） | | 生猪销售收入（亿元） | | 商品猪价格（元/kg） | | --- | --- | --- | --- | --- | --- | | | 当月 | 累计 | 当月 | 累计 | 当月 | | 2024年4月 | 19.20 | 65.25 | 2.99 | ...

Group 1 - The company Jingji Zhino (000048) reported sales of 186,600 pigs in April 2025, including 23,200 piglets, generating a revenue of 343 million yuan [1] - The average selling price of commercial pigs was 15.19 yuan/kg in April 2025 [1] - For the period from January to April 2025, the company sold a total of 678,000 pigs, including 102,700 piglets, with a cumulative revenue of 1.222 billion yuan [1]

Investment Rating - The investment rating for the company is "Buy" [1] Core Views - The company's revenue decreased by 11.90% year-on-year to 1.108 billion yuan, primarily due to the contraction of its real estate business, while net profit attributable to shareholders increased by 106.99% year-on-year to 112 million yuan, driven by the pig farming business [2] - The company has optimized breeding costs and is steadily expanding its scale, with the total cost of pig farming decreasing to 14.38 yuan/kg in 2024, down by 2.8 yuan/kg from 2023 [3] - The company plans to sell approximately 2.5 million pigs in 2025, with a significant increase in the number of breeding sows and a focus on cost reduction strategies [3] Summary by Sections Financial Performance - In Q1 2025, the company achieved operating revenue of 1.108 billion yuan, a decrease of 11.90% year-on-year, while net profit reached 112 million yuan, an increase of 106.99% year-on-year [2] - The company’s total revenue for 2024 is projected to be 5.96 billion yuan, with a year-on-year decrease of 52.0%, followed by a recovery to 8.81 billion yuan in 2025, representing a 47.7% increase [6][8] Cost Management and Expansion - The company has implemented a refined management approach and smart systems in pig farming, leading to industry-leading cost control [3] - The breeding cost for pigs is expected to continue decreasing, with a target of 250 million pigs to be sold in 2025, reflecting a 16% increase from 2024 [4] Real Estate Business - The real estate business is currently in a phase of inventory reduction, with only a few projects remaining for sale [3] - The financial structure of the company is improving, with a decrease in the debt-to-asset ratio from 60.25% at the beginning of the year to 58.96% by the end of Q1 2025 [3] Investment Recommendations - The company is expected to continue benefiting from its pig farming business, with projected net profits of 8.19 billion yuan for 2025 and 9.14 billion yuan for 2026 [4] - The stock price as of April 25, 2025, is 15.73 yuan, corresponding to a price-to-earnings ratio of 10/9/7 for 2025/2026/2027, maintaining a "Buy" rating [4]

Core Viewpoint - The company, Shenzhen Jingji Zhino Co., Ltd., has released its first quarter report for 2025, ensuring the accuracy and completeness of the information disclosed, and confirming that the report has not been audited [1][2][6]. Financial Data - The company has confirmed that there are no adjustments or restatements required for previous years' accounting data [3]. - The report indicates that there are no non-recurring profit and loss items applicable for the quarter [3]. - The company has not defined any non-recurring profit and loss items as recurring [3]. Shareholder Information - The report includes details about the total number of ordinary shareholders and the top ten shareholders, but specific data is not provided in the documents [5]. - There are no changes in the borrowing or returning of shares by the top ten shareholders due to transfer and financing activities [5]. Board Meeting Decisions - The board meeting held on April 24, 2025, approved the first quarter report and the appointment of Mr. Lan Di as the vice president responsible for market value management and strategic planning [7][9]. - The meeting had full attendance from the board members, with all votes in favor of the resolutions [7]. Management Profile - Mr. Lan Di, the newly appointed vice president, has a strong background in management and investor relations, having held various significant positions in other companies [9][10]. - He does not hold any shares in the company and has no conflicts of interest with major shareholders or management [10].

证券代码：000048 证券简称：京基智农 公告编号：2025-018 深圳市京基智农时代股份有限公司 第十一届董事会第七次临时会议决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 2025 年 4 月 24 日上午 10:00，深圳市京基智农时代股份有限公司（以下简称 "公司"）第十一届董事会第七次临时会议于公司会议室以现场加通讯方式召开。 会议通知于 2025 年 4 月 21 日以邮件等通讯方式送达各位董事。本次应参会董事 7 名，实际参会董事 7 名，其中董事陈家荣先生、蔡新平先生、靳庆军先生、傅 衍先生、陈建华先生及刘标先生以通讯方式参会。会议由董事长陈家荣先生主持。 会议的召开和表决程序符合《公司法》和《公司章程》等有关规定。经与会董事 认真审议并投票表决，本次会议形成以下决议： 深圳市京基智农时代股份有限公司 董事会 一、审议通过《关于 2025 年第一季度报告的议案》 详见公司同日刊登于《证券时报》《中国证券报》《上海证券报》《证券日 报》及巨潮资讯网（www.cninfo.com.cn）的《2025 年第一季度报告》（公告编号： 20 ...