Group 1 - The company, Guotou Fengle, reported that as of October 31, 2025, it has 64,166 shareholders [1] - The company's application for a specific issuance of A-shares has been approved by the Shenzhen Stock Exchange's listing review center [1]

Investment Rating - The industry rating is "Recommended" [3] Core Insights - The pork price center has significantly risen, leading to a notable reduction in industry losses. The average price of live pigs has increased to 12.51 CNY/kg, a week-on-week rise of 7.20% [2][13] - The agricultural sector is expected to maintain a good development momentum, with grain production projected to be high this year, including summer grain production of 299.48 billion jin and early rice production increasing by 6.8 billion jin, a growth of 1.2% [1][12] - The industry is currently in a supply-demand tug-of-war, with large-scale pig farms adopting strategies to control supply and raise prices, while demand is expected to improve with the arrival of warmer weather and the pickling season [2][13] Summary by Sections Planting Industry Chain - The agricultural sector is implementing key policies to support rural economic development, with a focus on achieving food security and enhancing crop yields through biotechnology [1][12] - Major beneficiaries in the planting sector include Beidahuang and Suqian Agricultural Development, while in the seed industry, companies like Dabeinong and Longping High-Tech are highlighted for their competitive advantages [1][12] Pig Farming - The pig farming industry is still experiencing losses, but there has been a significant reduction in losses compared to the previous week, with self-breeding farms reporting an average loss of 89.33 CNY per head, down nearly 100 CNY [2][13] - The industry is expected to undergo a process of capacity reduction, with a focus on improving quality and efficiency, leading to the gradual elimination of outdated production capacity [2][13] - Recommended stocks in the pig farming sector include companies like DeKang Agriculture, Jingji Zhino, and Muyuan Foods [2][13] Key Agricultural Product Data Tracking - Corn: The average price is 2241.67 CNY/ton, with a week-on-week decrease of 0.66% [27][28] - Wheat: The average price is 2482.11 CNY/ton, with a week-on-week increase of 0.87% [30][32] - Soybeans: The average price is 3996.84 CNY/ton, with a week-on-week increase of 0.06% [41][44] - Cotton: The average price in Xinjiang is 14660 CNY/ton, with a week-on-week increase of 0.15% [46][50] Feed and Vitamin Prices - The average price of pig feed is 2.6 CNY/kg, with a week-on-week decrease of 0.38% [53][55] - The average price of Vitamin E is 50.30 CNY/kg, with a week-on-week increase of 14.58% [62][63]

Core Points - The company reported a third-quarter revenue of 375 million, a decrease of 4.23% [1] - The net profit for the third quarter was a loss of 62.6885 million, down 28.70% [1] - For the first three quarters, the revenue totaled 1.526 billion, a decline of 11.33% [1] - The net profit for the first three quarters was a loss of 90.7139 million, a decrease of 27.67% [1]

证券代码：000713 证券简称：国投丰乐 公告编号： 2025-048 国投丰乐种业股份有限公司 第七届董事会第十二次会议决议公告 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。 一、董事会会议召开情况 国投丰乐种业股份有限公司（以下简称"公司"）于 2025 年 10 月 17 日分别以通讯和送达的方式发出了召开第七届董事会第十二次 会议的通知，会议于 10 月 28 日以通讯表决方式召开，会议应参加表 决的董事 8 人，实际参加表决的董事 8 人，会议的召集与召开符合《公 司法》和《公司章程》的有关规定。 二、董事会会议审议情况 1.审议通过《2025 年第三季度报告》； 表决结果：8 票赞成，0 票反对，0 票弃权。 内容详见 10 月 29 日《证券时报》《证券日报》和巨潮资讯网 http://www.cninfo.com.cn 公告。 2.审议通过《关于修订<年报信息披露重大差错责任追究制度> 的议案》； 为提高公司年度报告信息披露质量，根据《公司法》《证券法》 《上市公司信息披露管理办法》《深圳证券交易所股票上市规则》《深 圳证券交易所上市公司自 ...

Financial Performance - The company's revenue for Q3 2025 was ¥375,277,751.41, representing a decrease of 4.23% compared to the same period last year[5]. - The net profit attributable to shareholders was -¥62,688,468.92, down 28.70% year-on-year, while the net profit after deducting non-recurring gains and losses was -¥64,841,971.35, a decrease of 29.17%[5]. - Total operating revenue for the current period was ¥1,525,594,859.73, a decrease of 11.3% from ¥1,720,484,635.61 in the previous period[22]. - Operating profit for the current period was -¥95,836,778.41, compared to -¥81,905,132.75 in the previous period, indicating a worsening performance[23]. - Net profit for the current period was -¥97,720,103.35, compared to -¥82,145,956.90 in the previous period, reflecting an increase in losses[23]. - The net profit attributable to the parent company's shareholders was -90,713,853.00 yuan, compared to -71,051,334.79 yuan in the previous period, indicating a worsening performance[24]. - The total comprehensive income amounted to -97,720,103.35 yuan, compared to -82,145,956.90 yuan in the previous period, reflecting a decline[24]. - The basic and diluted earnings per share were both -0.1477, compared to -0.1157 in the previous period, showing a decrease in earnings[24]. Cash Flow and Liquidity - The operating cash flow net amount for the year-to-date was ¥136,496,264.48, showing a significant increase of 220.38% compared to the previous year[10]. - The net cash flow from operating activities was 136,496,264.48 yuan, a significant improvement from -113,384,481.14 yuan in the previous period[26]. - Cash inflows from operating activities totaled 1,765,262,807.43 yuan, down from 1,966,663,337.45 yuan in the previous period, indicating a decline of approximately 10.2%[26]. - Cash and cash equivalents increased to ¥403,055,339.40 from ¥299,068,607.69, representing a growth of 34.7%[19]. - The cash and cash equivalents at the end of the period were 362,623,249.78 yuan, up from 80,058,165.68 yuan in the previous period, indicating a strong liquidity position[27]. - The net cash flow from financing activities was 61,966,730.54 yuan, an increase from 20,044,647.48 yuan in the previous period, suggesting improved financing conditions[27]. Assets and Liabilities - Total assets at the end of the reporting period were ¥3,523,058,081.63, an increase of 7.88% from the end of the previous year[5]. - Total liabilities increased to ¥1,541,336,737.94 from ¥1,168,291,107.04, marking a rise of 31.9%[20]. - Total assets reached ¥3,523,058,081.63, up from ¥3,265,772,322.13, indicating a growth of 7.9%[20]. - Non-current assets totaled ¥1,417,951,644.21, a decrease from ¥1,466,036,433.52, reflecting a decline of 3.3%[19]. - The company's total equity attributable to shareholders decreased by 5.20% to ¥1,905,828,595.83 compared to the end of the previous year[5]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 65,513, with no preferred shareholders having restored voting rights[12]. - The company plans to issue A-shares to its controlling shareholder, Guotou Zhongye Technology Co., Ltd., at a price of RMB 5.91 per share, raising up to RMB 1,088.65 million[15]. - Guotou Zhongye will subscribe for no more than 184,204,494 shares, and the funds will be used to replenish working capital and repay bank loans[15]. - The company distributed cash dividends totaling RMB 12,280,299.60 (including tax) for the 2024 fiscal year[16]. Investment and Performance Commitments - The company has completed performance commitments for its subsidiary, Jinling Seed Industry, with a total commitment amount of RMB 33 million for 2022-2024, achieving a net profit of RMB 33.8579 million during this period[16]. - The assessed value of Jinling Seed Industry's equity increased by RMB 16.564 million compared to the acquisition date, indicating a value appreciation of RMB 1.68747 million[16]. Other Financial Metrics - The financial expenses for the year-to-date were ¥3,365,463.90, an increase of 80.46% compared to the previous year, mainly due to higher interest expenses[9]. - The investment income decreased by 50.96% to ¥1,830,749.94, primarily due to reduced financial product returns[9]. - Cash outflows from investing activities were 78,734,300.76 yuan, compared to 754,817,301.58 yuan in the previous period, indicating a reduction in investment expenditures[26]. - Contract liabilities surged to ¥690,690,089.09 from ¥267,307,619.49, a significant increase of 158.4%[20].

国投丰乐种业股份有限公司 董事和高级管理人员 所持本公司股份及其变动管理制度 （2025 年 10 月 28 日，经国投丰乐第七届董事会第十二次会议审议通过） 国投丰乐种业股份有限公司 董事和高级管理人员所持本公司股份及其变动管理制度 第一章 总 则 第一条 为加强对国投丰乐种业股份有限公司（以下简称"公司"）董事和 高级管理人员所持本公司股份及其变动的管理，进一步明确办理程序，根据《中 华人民共和国公司法》（以下简称《公司法》）《中华人民共和国证券法》（以 下简称《证券法》）《上市公司董事和高级管理人员所持本公司股份及其变动管 理规则》《深圳证券交易所上市公司自律监管指引第 10 号—股份变动管理》《深 圳证券交易所上市公司自律监管指引第 18 号—股东及董事、高级管理人员减持 股份》等法律法规、规范性文件及《公司章程》的有关规定，制定本制度。 第二条 本制度适用于公司董事、高级管理人员及本制度规定的自然人、法 人或者其他组织所持本公司股份及其变动的管理。 第三条 公司董事和高级管理人员应当遵守《公司法》《证券法》和有关法 律、行政法规，中国证监会规章、规范性文件以及深圳证券交易所（以下简称"深 交所"）规 ...

重大信息内部报告制度 （2025 年 10 月 28 日，经国投丰乐第七届董事会第十二次会议审议通过） 国投丰乐种业股份有限公司 重大信息内部报告制度 第一章 总 则 第一条 为规范国投丰乐种业股份有限公司 （以下简称"公司"）重大信 息内部报告工作，明确公司各部门以及有关人员重大信息内部报告的职责和义务， 确保公司信息披露内容的及时、真实、准确、完整，根据《中华人民共和国公司 法》《中华人民共和国证券法》《上市公司信息披露管理办法》《深圳证券交易 所股票上市规则》《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、规范性文件和《公司章程》的有关规定，结合公司 实际情况，制定本制度。 第二条 本制度适用于公司及公司合并报表范围内的全资、控股子（分）公 司（以下统称"子公司"）。 国投丰乐种业股份有限公司 第三条 公司重大信息内部报告是指当已发生或拟发生的可能对公司股票 及其衍生品种交易价格产生较大影响的事项时，负有报告义务的单位、部门、人 员，应及时将相关信息向公司责任领导、董事会秘书、董事长报告。 第四条 本制度所称信息报告义务人主要包括： （五）单独或合计持有公司百分之五 ...

国投丰乐种业股份有限公司 总经理工作细则 （2025 年 10 月 28 日，经国投丰乐第七届董事会第十二次会议审议通过） 国投丰乐种业股份有限公司 总经理工作细则 本细则所称其他高级管理人员是指副总经理、总会计师、董事会秘书、总农 艺师、总工程师、总经济师、总法律顾问。 第二章 总经理的聘任 第三条 公司设总经理一名，由董事会聘任或解聘，对董事会负责。根据工 作需要设副总经理若干名，总会计师、董事会秘书、总农艺师、总工程师、总经 济师、总法律顾问各一名。 第四条 总经理每届任期三年，连聘可以连任。 第五条 存在下列情形之一的，不得担任公司高级管理人员： （一）无民事行为能力或者限制民事行为能力； （二）因贪污、贿赂、侵占财产、挪用财产或者破坏社会主义市场经济秩序， 被判处刑罚，或者因犯罪被剥夺政治权利，执行期满未逾五年，被宣告缓刑的， 自缓刑考验期满之日起未逾二年； 第一章 总 则 第一条 为规范国投丰乐种业股份有限公司（以下简称"公司"）总经理及 其他高级管理人员的行为，提高工作效率，保证依法行使职权，忠实履行职责， 促使公司日常经营管理活动有效开展，根据《中华人民共和国公司法》《深圳证 券交易所股票上市 ...

国投丰乐种业股份有限公司 董事会秘书工作制度 （2025 年 10 月 28 日，经国投丰乐第七届董事会第十二次会议审议通过） 国投丰乐种业股份有限公司 董事会秘书工作制度 第一章 总 则 第一条 为完善国投丰乐种业股份有限公司（以下简称"公司"）的法人治 理结构，加强对董事会秘书工作的管理与监督，促进公司规范运作，根据《中华 人民共和国公司法》（以下简称《公司法》）《中华人民共和国证券法》（以下 简称《证券法》）《深圳证券交易所股票上市规则》《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》的有关规定，制定本制度。 第二条 公司设董事会秘书一名。董事会秘书为公司的高级管理人员，对公 司和董事会负责，是公司与深圳证券交易所（以下简称"深交所"）之间的指定 联络人。 第三条 董事会秘书应当遵守法律、行政法规、部门规章、《公司章程》及 本制度的有关规定，承担公司高级管理人员的有关法律责任，对公司负有忠实和 勤勉义务。 第四条 公司设证券投资部，作为董事会秘书履行职责的日常工作机构，由 董事会秘书负责管理。 第二章 任职资格 第五条 董事会秘书应当熟悉履 ...

国投丰乐种业股份有限公司 年报信息披露重大差错 责任追究制度 （2025 年 10 月 28 日，经国投丰乐第七届董事会第十二次会议审议通过） 国投丰乐种业股份有限公司 年报信息披露重大差错责任追究制度 第一章 总 则 第一条 为进一步提高国投丰乐种业股份有限公司（以下简称"公司"）的 规范运作水平，提高公司年度报告信息披露质量，增强年度报告信息披露的真实 性、准确性、完整性和及时性，加大对公司年度报告信息披露相关责任人员的问 责力度，根据《中华人民共和国公司法》（以下简称《公司法》）《中华人民共和 国证券法》（以下简称《证券法》）《上市公司信息披露管理办法》《深圳证券交易 所股票上市规则》《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》的有关规定，结合公司 实际情况，制定本制度。 第二条 本制度所称年报信息披露重大差错责任追究是指在年报信息披露 工作中，有关人员不履行或者不正确履行职责、义务或其他个人原因，导致公司 年报信息披露发生重大差错，给公司造成重大经济损失或造成不良社会影响的追 究与处理。 第三条 本制度适用于公司的董事、高级管理人员、公 ...