招商证券股份有限公司关于新希望六和股份有限公司 2023 年度持续督导培训情况的报告 （四）培训时间：2024 年 4 月 29 日 9：30 至 11：30 （五）培训地点：四川省成都市锦江区金石路 366 号、线上腾讯会议 （六）培训人员：招商证券股份有限公司持续督导项目组 招商证券股份有限公司关于新希望六和股份有限公司 2023 年度持续督导培训情况的报告 深圳证券交易所： 招商证券股份有限公司（以下简称"招商证券"、"保荐机构"）根据《深圳 证券交易所上市公司自律监管指引第 13 号——保荐业务》对新希望六和股份有 限公司（以下简称"新希望"、"公司"）进行了 2023 年度持续督导培训，报告如 下： 一、本次持续督导培训的基本情况 （一）保荐人：招商证券股份有限公司 （二）保荐代表人：张寅博、王会民 （三）督导专员：王会民 保荐机构认为：通过本次培训，公司的董事、监事、高级管理人员及相关人 员对上市公司规范运作与信息披露工作、深圳证券交易所股票上市规则有了更全 面的了解。本次持续督导培训总体上提高了公司及其董事、监事、高级管理人员 和相关人员的规范运作意识及对资本市场的理解，有助于提高公司的规范运作 ...

| 保荐机构名称：招商证券股份有限公司 被保荐公司简称：新希望 | | --- | | 保荐代表人姓名：张寅博 联系电话：0755-82943666 | | 保荐代表人姓名：王会民 联系电话：0755-82943666 | | 现场检查人员姓名：王会民 | | 现场检查对应期间：2023 年度 | | 现场检查时间：2024 年 4 月 23 日 | | 一、现场检查事项 现场检查意见 | | （一）公司治理 是 否 不适用 | | 现场检查手段：查阅公司章程和规章制度；核查公司股东大会、董事会、监事会文 | | 件、公司治理制度等文件，并核查三会召开通知、记录等文件，对三会召集程序、 | | 出席会议人员的资格、召集人资格、表决程序等事项进行核查 | | 1.公司章程和公司治理制度是否完备、合规 √ | | √ 2.公司章程和三会规则是否得到有效执行 | | 3.三会会议记录是否完整，时间、地点、出席人员及会议内 √ | | 容等要件是否齐备，会议资料是否保存完整 | | 4.三会会议决议是否由出席会议的相关人员签名确认 √ | | 5.公司董监高是否按照有关法律、行政法规、部门规章、规 √ | | 范性文 ...

Financial Performance - The company's operating revenue for Q1 2024 was ¥23.91 billion, a decrease of 29.49% compared to ¥33.91 billion in the same period last year[5]. - The net profit attributable to shareholders was a loss of ¥1.93 billion, worsening by 14.75% from a loss of ¥1.69 billion year-on-year[5]. - Total operating revenue for Q1 2024 was CNY 23.91 billion, a decrease of 29.4% compared to CNY 33.91 billion in Q1 2023[22]. - Net profit for Q1 2024 was a loss of CNY 2.36 billion, compared to a loss of CNY 1.99 billion in Q1 2023, reflecting a worsening of 18.6%[23]. - The total comprehensive income attributable to the parent company was -2,068,345,080.62 CNY, compared to -1,676,064,314.11 CNY in the previous period, reflecting a decline of approximately 23.4%[24]. - The basic and diluted earnings per share were both -0.43 CNY, compared to -0.38 CNY in the previous period, indicating a worsening performance[24]. Cash Flow and Liquidity - The net cash flow from operating activities improved significantly, reaching ¥131.84 million, an increase of 107.83% compared to a negative cash flow of ¥1.68 billion in the previous year[5]. - The net cash flow from operating activities was 131,843,313.43 CNY, a significant improvement from -1,684,234,045.85 CNY in the previous period[25]. - Cash and cash equivalents at the end of the period amounted to 8,689,734,369.49 CNY, an increase from 8,158,982,545.00 CNY in the previous period[27]. - The cash outflow from operating activities totaled 24,876,446,529.59 CNY, down from 36,558,709,946.76 CNY in the previous period, reflecting a decrease of about 31.9%[25]. - The company reported cash inflows from investment activities totaling 1,073,765,039.79 CNY, compared to 813,764,643.16 CNY in the previous period, indicating a growth of approximately 32.0%[27]. - The net cash flow from financing activities was 988,614,403.95 CNY, down from 1,111,234,227.32 CNY in the previous period, representing a decrease of about 11.0%[27]. Assets and Liabilities - The total assets at the end of the reporting period were ¥126.79 billion, down 2.18% from ¥129.61 billion at the end of the previous year[5]. - The company's total assets decreased to CNY 126.79 billion from CNY 129.61 billion, a decline of 2.2%[20]. - Total liabilities increased slightly to CNY 93.86 billion from CNY 93.68 billion, an increase of 0.2%[20]. - The total non-current liabilities increased to CNY 40.15 billion from CNY 38.57 billion, an increase of 4.1%[20]. - The equity attributable to shareholders decreased by 9.24% to ¥22.49 billion from ¥24.78 billion at the end of the previous year[5]. Receivables and Inventory - The company experienced a 31.80% increase in accounts receivable, amounting to ¥40.37 million, attributed to extended credit terms offered to customers[9]. - Accounts receivable rose to CNY 1,673,016,117.68, up from CNY 1,269,319,108.56, indicating a significant increase in credit sales[18]. - Inventory decreased to CNY 11,525,138,276.06 from CNY 13,315,721,502.38, reflecting improved inventory management[18]. Investments and Financing - The company plans to issue non-financial corporate debt financing tools not exceeding CNY 1 billion, with a maturity of up to 5 years[15]. - Long-term equity investments rose to CNY 30.65 billion, up from CNY 30.04 billion, indicating a growth of 2.1%[20]. - The company reported an investment income of CNY 584.89 million, a decrease of 8.1% from CNY 636.54 million in the previous year[23]. Corporate Governance and Strategy - The board of directors appointed new executives to enhance the company's core competitiveness and sustainable development capabilities[16]. - The company is undergoing a board member election process, with candidates proposed for independent director positions[15]. - The company’s financial position reflects a strategic focus on enhancing operational efficiency and market expansion[15]. - The company reported a significant amount of other receivables totaling CNY 2,582,131,230.53, down from CNY 3,358,342,138.74[18]. - The company reported a total of 216,374 common shareholders at the end of the reporting period[11]. - The company has a major shareholder, Southern Hope Industry Co., Ltd., holding 1,328,957,185 shares, representing a significant portion of the total shares[12].

Sales and Revenue Performance - In 2023, the company achieved a pig sales volume of 17.68 million heads, significantly contributing to overall revenue and profit[8]. - The company's operating revenue for 2023 was approximately ¥141.70 billion, representing a slight increase of 0.14% compared to ¥141.51 billion in 2022[24]. - The net profit attributable to shareholders for 2023 was approximately ¥249.20 million, a significant recovery from a loss of ¥1.46 billion in 2022, marking a 117.07% improvement[24]. - The net cash flow from operating activities increased by 50.50% to approximately ¥13.90 billion in 2023, up from ¥9.24 billion in 2022[24]. - The company’s total feed sales reached 28.76 million tons in 2023, accounting for 8.9% of the national total, with poultry feed at 15.22 million tons, representing 11.9% of the national total[47]. - The company achieved operating revenue of 21.302 billion yuan, a year-on-year decrease of 4.89% due to lower average pig prices[70]. - The company reported a net profit attributable to shareholders after deducting non-recurring gains and losses of approximately -¥4.61 billion, a decline of 416.05% compared to -¥951.88 million in 2022[24]. Cost and Profitability Challenges - The average domestic pig price in 2023 was approximately 15 RMB/kg, marking the lowest level since 2020[8]. - Feed raw material costs typically account for over 90% of total feed costs, with rising prices of corn and soybean meal impacting profitability[4]. - The company is facing challenges due to exchange rate fluctuations affecting its global raw material procurement, particularly for corn, soybeans, and fishmeal[13]. - The company’s gross profit margin for the feed segment was 5.25%, down 1.23% from the previous year[73]. - The average cost of fattened hogs was reduced to 15.8 RMB/kg, a decrease of 0.9 RMB/kg compared to the previous quarter, narrowing the gap with industry leaders[123]. Strategic Initiatives and Adjustments - The company plans to focus on the feed and pig farming sectors, aiming to enhance competitiveness in these core businesses following a strategic adjustment[22]. - The company has undergone significant strategic adjustments in response to the current phase of the pig cycle and industry development characteristics[22]. - The company is actively monitoring macroeconomic conditions and adjusting its strategies to mitigate risks associated with currency fluctuations and environmental regulations[14]. - The company plans to enhance its breeding efficiency by constructing higher-standard livestock facilities and expanding its breeding bases through new constructions, acquisitions, and partnerships[11]. - The company is exploring smart pig farming technologies to enhance operational efficiency[127]. Supply Chain and Procurement Management - The company has established strategic partnerships with multiple domestic and international suppliers to optimize raw material costs[6]. - The company has implemented hedging tools since 2020 to manage raw material price volatility and has strengthened centralized procurement management[6]. - The company has established a collaborative procurement model for feed raw materials, integrating nutrition research and technical applications across its feed and pig farming sectors[58]. - The company has signed strategic cooperation agreements with leading enterprises, with credit amounts reaching several billion yuan, to manage raw material procurement effectively[54]. Biosecurity and Risk Management - The company has developed a comprehensive biosecurity system and monitoring network to mitigate risks from animal diseases[3]. - The company continues to explore effective disease prevention methods through industry collaboration[3]. - The company has built mature emergency plans and maintains sufficient disaster relief supplies in response to natural disasters[4]. - The company has established a warning mechanism for African swine fever, enhancing its ability to monitor and control the disease[82]. Financial Management and Investments - The company will not distribute cash dividends or issue bonus shares, focusing on reinvestment strategies instead[14]. - The company has a robust financial position with over 100 billion yuan in credit facilities, maintaining a low utilization rate of approximately 70%[60]. - The company’s total investment during the reporting period was ¥30,360,989,791.60, representing a 13.53% increase compared to ¥26,741,547,173.00 in the previous year[90]. - The company has established a derivative investment management system and a hedging business management system to mitigate risks associated with derivative investments[96]. Market Trends and Industry Dynamics - The domestic feed industry has shown a steady growth trend, with an average annual growth rate of approximately 6.8% from 2001 to 2023[31]. - The annual pig slaughter volume increased by 13% in 2023 compared to 2009, while the number of breeding sows decreased by 16%[37]. - The industry is witnessing a shift towards larger-scale, industrialized pig farming, with a significant reduction in smallholder farming as production efficiency improves[38]. - The average PSY (Pigs per Sow per Year) in the industry rose from approximately 17 before major swine disease outbreaks to around 21 in 2023[39]. Corporate Governance and Management Changes - The company has established a standardized corporate governance structure in compliance with relevant laws and regulations, ensuring effective division of responsibilities and checks and balances[140]. - The company’s leadership team has undergone significant changes, indicating a potential shift in strategic focus and operational management[154]. - The company is actively engaging in board elections and appointments to strengthen its management team and governance[148]. - The company’s management team is composed of individuals with advanced degrees and relevant industry experience, positioning it for future growth[149][154]. Research and Development Efforts - The company has developed proprietary breeding and production management software, enhancing breeding efficiency and accuracy with improved algorithms[57]. - The company’s R&D investment amounted to ¥209,587,737.79 in 2023, a decrease of 30.63% compared to ¥302,134,689.88 in 2022[83]. - Investment in R&D has increased by 30%, focusing on innovative technologies in animal husbandry and feed production[156]. - The company is advancing molecular breeding technologies, including somatic cell cloning and gene editing, to enhance pig performance and production efficiency[81]. Future Outlook and Growth Strategies - Future outlook indicates a projected revenue growth of 20% for 2024, driven by new product launches and market expansion strategies[155]. - The company plans to enter three new international markets by the end of 2024, aiming to increase its global footprint[155]. - The company aims to enhance its digital transformation initiatives, with a target of 50% of sales coming from online channels by 2025[157]. - The company is exploring potential acquisitions to enhance its supply chain efficiency, with a budget allocation of 5 billion RMB for strategic investments[157].

证券代码：000876 证券简称：新希望 公告编号：2024-2 5 债券代码：127015、127049 债券简称：希望转债、希望转 2 新希望六和股份有限公司 2024 年 03 月生猪销售情况简报 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。 新希望六和股份有限公司（以下简称"公司"）下属子公司从事 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，公司将参照指 引相关规定执行。 一、2024 年 03 月份生猪销售情况 公司 2024 年 03 月销售生猪 152.55 万头，环比变动 16.56%，同 比变动-9.79%；收入为 23.04 亿元，环比变动 25.49%%，同比变动 -10.80%；商品猪销售均价 14.34 元/公斤，环比变动 3.46%，同比变 动-4.65%。 | 月份 | | | 生猪销售数量 | | | 生猪销售收入 | 商品猪价格 | | --- | --- | --- | --- | --- | ...

| 证券代码：000876 | 证券简称：新希望 | 公告编号：2024-24 | | --- | --- | --- | | 债券代码：127015,127049 | 债券简称：希望转债，希望转 | 2 | 新希望六和股份有限公司 2024 年第一季度可转换公司债券转股情况公告 一、可转债发行上市概况 （一）希望转债发行上市情况 1、 股票代码：000876，股票简称：新希望 2、 债券代码：127015；债券简称：希望转债 债券代码：127049；债券简称：希望转 2 3、 希望转债转股价格：10.6 元/股； 经中国证券监督管理委员会（以下简称"中国证监会"）《关于核 准新希望六和股份有限公司公开发行可转换公司债券的批复》(证监 许可[2019]1902 号）核准，公司于 2020 年 1 月 3 日公开发行了 4,000 万张可转换公司债券，每张面值 100 元，发行总额 400,000 万元。2020 年 2 月 4 日起在深交所挂牌交易，债券简称"希望转债"，债券代码 "127015"。 本公司及董事会全体成员保证信息披露内容的真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 特别提示： ...

证券代码：000876 证券简称：新希望 公告编号：2024-23 债券代码：127015,127049 债券简称：希望转债，希望转2 新希望六和股份有限公司 关于白羽肉禽业务引进战略投资者 暨转让部分股权事项的进展公告 本公司及董事会全体成员保证信息披露内容的真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 一、交易基本情况 为进一步优化新希望六和股份有限公司（以下简称"公司"、 "新希望"）产业发展战略，聚焦核心主业，持续提升公司核心竞 争力和可持续发展能力，推动公司高质量发展，公司拟对白羽肉禽 业务引入战略合作方中国牧工商集团有限公司（以下简称"中牧集 团"）。中牧集团拟通过现金收购方式取得公司旗下禽产业链运营 主体山东中新食品集团有限公司（以下简称"中新食品"）的51% 股权，并成为中新食品的控股股东。 公司于2023年12月15日召开第九届董事会第二十四次会议以 及2023年12月27日召开的2023年第三次临时股东大会，已经分别审 议通过了《关于白羽肉禽业务引进战略投资者暨转让部分股权的议 案》。具体内容详见公司于2023年12月16日、12月28日在《中国证 券报》《证券时报》《上海证券 ...

“一杯牛奶强壮一个民族”，这是一句流传甚广的广告语。在各大超市的货架上，各种品牌的乳制品不胜 枚举，这不仅为消费者提供了充分的选择，也使得消费者的转换成本在降低。 新希望乳业的Slogan“专业卖奶50年”，应该有不少消费者都听说过。近年来，新希望乳业在营收上呈现 着一路增长姿态，与此同时，其在资本市场上的表现却是一路下滑。 之所以呈现出业绩与股价冰火两重天的情况，一方面很可能是新希望乳业整体盈利能力不佳，导致投资 者不看好；另一方面，是这十几年来新希望乳业的全国化征程始终无法圆满完成。 在这背后，也能看出新希望乳业需要克服的经营短板并不少。过去并购模式带来企业规模快速扩张， 但“并购后遗症”仍亟需解决。近年来新希望乳业的资产负债率远超同行，在未来很长一段时间之内，新 希望乳业恐怕都会面临市场规模与盈利水平二选一的痛苦选择。 1 债台高筑的新希望，危机四伏 2010年，新希望集团发布公告，表示将乳业和房地产资产剥离出上市公司。新希望乳业于2019年1月25 日在深交所挂牌上市。截至3月22日，总市值为88.04亿元。 近一年来，新希望乳业的股价持续震荡下跌。2023年4月21日股价为16.92元每股，到了3月 ...

来源：山西日报 图为在运城市盐湖区解州镇曲村农业 科技示范基地，农技人员操作植保无人机对麦田开展春季除草作业。闫鑫摄 图为在祁县的农机市场里，农户们正 ...

证券代码：000876 证券简称：新希望 公告编号：2024-2 2 债券代码：127015，127409 债券简称：希望转债，希望转 2 本公司及董事会全体成员保证信息披露内容的真实、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 新希望六和股份有限公司（以下简称"公司"）第九届董事会第 二十七次会议通知于 2024 年 3 月 6 日以电子邮件方式通知了全体董 事。第九届董事会第二十七次会议于 2024 年 3 月 11 日以通讯表决方 式召开。本次会议应参加表决董事 8 人，实际表决董事 8 人，会议的 召开及表决程序符合有关法律、行政法规、部门规章、规范性文件和 公司《章程》的规定，所作决议合法有效。 二、董事会会议审议情况 本次会议由董事以传真方式会签，审议通过了如下议案： （一）审议通过了"关于发行非金融企业债务融资工具的议案" 表决结果：8 票赞成，0 票反对，0 票弃权。 新希望六和股份有限公司 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"）、《银行间债券市场非金融企 业债务融资工具管理办法》（以下简称"管理办法 ...