Core Insights - New Hope reported a revenue of 80.504 billion yuan for the first three quarters of 2025, representing a year-on-year increase of 4.27% [1] - The net profit attributable to shareholders reached 760 million yuan, showing a significant year-on-year growth of 395.89% [1] - The company's net profit excluding non-recurring items was 717 million yuan, with a remarkable year-on-year increase of 1788.24% [1] Financial Performance - Basic earnings per share for the reporting period was 0.15 yuan [2] - The weighted average return on equity was 2.88% [2] - As of October 30, the price-to-earnings ratio (TTM) was approximately 17.80 times, the price-to-book ratio (LF) was about 1.68 times, and the price-to-sales ratio (TTM) was around 0.41 times [2] - The gross profit margin for the first three quarters was 7.38%, an increase of 1.71 percentage points year-on-year, while the net profit margin was 1.22%, up 1.17 percentage points from the previous year [2] - In Q3 2025, the gross profit margin was 6.50%, a decrease of 5.08 percentage points year-on-year and a 0.90 percentage point decline quarter-on-quarter [2] - The net profit margin for Q3 was 0.28%, down 5.52 percentage points year-on-year and 1.16 percentage points from the previous quarter [2] Expense Analysis - Total operating expenses for Q3 2025 were 5.368 billion yuan, an increase of 63.19 million yuan compared to the same period last year [2] - The expense ratio was 6.67%, a decrease of 0.20 percentage points year-on-year [2] - Sales expenses increased by 0.36% year-on-year, while management expenses decreased by 0.84%, R&D expenses fell by 20.71%, and financial expenses rose by 9.03% [2] Shareholder Information - As of the end of Q3 2025, the total number of shareholders was 192,600, a decrease of 16,000 or 7.67% from the end of the previous half [2] - The average market value of shares held per shareholder increased from 203,500 yuan at the end of the previous half to 229,100 yuan, reflecting a growth of 12.57% [2] Company Overview - New Hope Liuhe Co., Ltd. is located in Chengdu, Sichuan Province, and was established on March 4, 1998, with its listing date on March 11, 1998 [3] - The company's main business includes feed, white feather meat poultry, pig farming, and food, with revenue composition as follows: feed 68.72%, pig industry 27.83%, and others 3.44% [3] - New Hope is classified under the agricultural, forestry, animal husbandry, and fishery industry, specifically in pig farming, and is associated with concepts such as prepared dishes, pork, poultry, feed, and rural revitalization [3]

Core Viewpoint - New Hope (000876.SZ) reported a significant increase in net profit and revenue for the third quarter, indicating strong financial performance and growth potential in the industry [1] Financial Performance - The company's operating revenue for the first three quarters reached 80.5 billion yuan, representing a year-on-year growth of 4.27% [1] - The net profit attributable to shareholders of the listed company was 760 million yuan, showing a remarkable year-on-year increase of 395.89% [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 717 million yuan, reflecting an extraordinary year-on-year growth of 1,788.24% [1]

证券代码：000876 证券简称：新希望 公告编号：2025-107 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 关于变更签字注册会计师的公告 项目签字会计师：唐辉，2011 年入职四川华信并开始从事上市 公司审计，2025 年开始为公司提供审计服务。从业经历丰富、具有 相应资质并长期从事证券服务，具备相应的胜任能力。 唐辉从业以来受到的行政监管措施：因在执行兴源环境科技股 份有限公司 2021 年报、2022 年报审计项目中存在部分审计程序执 行不到位的问题，中国证监会浙江证监局分别于 2022 年 12 月、 2023 年 11 月采取出具警示函的行政监管措施。 唐辉从业以来未受到刑事处罚，未受到证监会及其派出机构、 行业主管部门的行政处罚，未受到证券交易场所、行业协会等自律 组织的自律监管措施、纪律处分。 唐辉不存在违反《中国注册会计师职业道德守则》对独立性要 求的情形。本次变更过程中相关工作安排已有序交接，变更事项不 会对公司 2025 年年度财务报表和内部控制审计工作产生影响。 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 ...

Core Viewpoint - New Hope (000876) reported its Q3 2025 results, showing a mixed performance with revenue growth but a significant decline in net profit [1] Financial Performance - Q3 revenue reached 28.879 billion yuan, representing a year-on-year increase of 4.51% [1] - Q3 net profit was 5.1255 million yuan, a dramatic year-on-year decrease of 99.63% [1] - For the first three quarters, total revenue was 80.504 billion yuan, up 4.27% year-on-year [1] - Net profit for the first three quarters was 760 million yuan, showing a substantial year-on-year increase of 395.89% [1] Factors Influencing Performance - The increase in net profit for the first three quarters was primarily due to higher sales prices of live pigs compared to the same period last year, along with continuous improvement in breeding costs [1] - The pig industry experienced a reduction in losses year-on-year, and the feed business also saw an increase in profits compared to the previous year [1]

证券代码：000876 证券简称：新希望 公告编号：2025-105 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 第十届监事会第七次会议决议公告 本公司及监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、监事会会议召开情况 新希望六和股份有限公司（以下简称"公司"）第十届监事会第 七次会议通知于 2025 年 10 月 26 日以电子邮件方式通知了全体监事， 第十届监事会第七次会议于 2025 年 10 月 29 日以通讯表决方式召开。 本次会议应参加表决监事 3 人，实际表决监事 3 人。本次会议的召开 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。 表决结果：3 票同意，0 票反对，0 票弃权。 经审核，监事会认为董事会编制和审议的公司《2025 年第三季 度报告》的程序符合法律、行政法规及中国证监会的规定，报告内容 真实、准确、完整地反映了上市公司的实际情况，不存在任何虚假记 载、误导性陈述或者重大遗漏。 1 本议案已经公司第十届董事会审计委员会 2025 年第四次例会审 ...

| 证券代码：000876 | 证券简称：新希望 | 公告编号：2025-104 | | --- | --- | --- | | 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 第十届董事会第七次会议决议公告 （一）审议通过了"2025 年第三季度报告" 表决结果：9 票同意，0 票反对，0 票弃权。 本议案已经公司第十届董事会审计委员会 2025 年第四次例会审 议通过。 公司《2025 年第三季度报告》刊登于 2025 年 10 月 31 日的《中 国证券报》《证券日报》《证券时报》《上海证券报》和巨潮资讯网 （www.cninfo.com.cn）。 特此公告 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、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"）第十届董事会第 七次会议通知于 2025 年 10 月 26 日以电子邮件方式通知了全体董事。 第十届董事会第七次会议于 2025年10月29日以通讯表决方式召开。 本次会议应参加表决董事 9 人，实际表决董事 9 人，会议的召开 ...

Financial Performance - The company's operating revenue for Q3 2025 was ¥28,879,052,022.92, representing a year-on-year increase of 4.51%[5] - The net profit attributable to shareholders decreased by 99.63% to ¥5,125,510.15, while the net profit after deducting non-recurring gains and losses dropped by 98.80% to ¥16,303,638.71[5] - The company experienced a 395.89% increase in net profit attributable to shareholders year-to-date, amounting to ¥759,989,438.98, driven by improved pig sales prices and reduced breeding costs[8] - Net profit for the current period was ¥980.70 million, a significant increase compared to ¥33.42 million in the previous period, representing a growth of 2845.5%[19] - The profit attributable to shareholders of the parent company was ¥759.99 million, compared to ¥153.26 million in the previous period, marking an increase of 394.4%[19] - Total comprehensive income amounted to ¥632,851,780.28, compared to a loss of ¥178,565,035.08 in the previous period[20] Assets and Liabilities - The total assets at the end of the reporting period were ¥116,870,684,279.36, a decrease of 0.88% compared to the end of the previous year[5] - The company's total assets decreased to ¥116.87 billion from ¥117.91 billion, a decline of 0.88%[16] - Total liabilities slightly decreased to ¥81.22 billion from ¥81.37 billion, a reduction of 0.18%[16] - The equity attributable to shareholders of the parent company increased to ¥25.76 billion from ¥25.66 billion, a growth of 0.39%[16] Cash Flow - The cash flow from operating activities for the year-to-date period was ¥7,835,356,904.17, reflecting a decrease of 5.30%[5] - Operating cash flow generated was ¥7,835,356,904.17, down from ¥8,274,120,273.82 in the previous period[21] - Cash inflow from operating activities totaled ¥80,334,519,410.14, compared to ¥78,762,589,376.34 last year, reflecting a growth of approximately 2%[21] - Cash outflow from investing activities was ¥1,951,571,951.08, significantly lower than ¥5,792,771,580.25 in the previous period[22] - Net cash flow from financing activities showed a negative balance of ¥7,682,770,190.73, compared to a negative ¥6,410,316,325.16 last year[22] - The ending balance of cash and cash equivalents decreased to ¥6,087,080,583.24 from ¥8,472,734,258.16 in the previous period[22] - The company reported a net cash outflow of ¥1,183,524,823.64 for the period, compared to a smaller outflow of ¥183,246,950.15 in the previous period[22] Shareholder Information - The total number of common shareholders at the end of the reporting period is 192,580[9] - The largest shareholder, Southern Hope Industrial Co., Ltd., holds 29.52% of shares, totaling 1,328,957,185 shares[9] - A cash dividend of 0.241245 RMB per 10 shares will be distributed, totaling 108,622,270.54 RMB (including tax) based on a total share capital of 4,502,570,853 shares[11] Investments and Expenses - The company recorded a 32.79% increase in net cash flow from investing activities, totaling ¥63,961.44 million, primarily due to the impact of payments to related parties[8] - Research and development expenses decreased to ¥143.74 million from ¥181.27 million, a reduction of 20.69%[18] - The company reported an investment income of ¥1.08 billion, down from ¥1.42 billion, a decrease of 24.1%[19] Other Financial Metrics - The weighted average return on equity decreased by 5.70 percentage points to -0.06% for the current period[5] - The company's basic and diluted earnings per share for the current period were both ¥0.00, reflecting a 100% decrease compared to the previous year[5] - Basic and diluted earnings per share increased to ¥0.15 from ¥0.02 year-over-year[20] - The conversion price for the company's convertible bonds was adjusted to 10.59 RMB per share on July 25, 2025[12] Audit and Reporting - The company did not conduct an audit for the third quarter financial report[23]

Core Viewpoint - The company has released its third-quarter financial report for 2025, highlighting significant changes in financial metrics and operational performance, with a focus on increased net profit and cash flow from operations. Financial Data Summary - The company confirmed that there are no adjustments or restatements needed for previous accounting data [4] - The financial report for the third quarter was not audited [3][10] - Major changes in the balance sheet include an increase in cash reserves for future debt repayment, an increase in trading financial assets due to the purchase of negotiable large certificates of deposit, and an increase in accounts receivable from bank acceptance bills [6] - The profit and loss statement showed an increase in investment income from joint ventures and a rise in fair value gains from financial assets [7] - The net profit increased due to growth in sales scale and improved profitability, particularly in the low-temperature product category [7] Cash Flow Analysis - The net increase in cash and cash equivalents was attributed to increases in net cash flows from operating, investing, and financing activities, with specific increases of 70.24 million yuan from operating activities, 90.44 million yuan from investing activities, and 43.90 million yuan from financing activities [8] Shareholder Information - The company reported no changes in the top ten shareholders or any significant changes in shareholding due to lending or borrowing of shares [9] Board and Supervisory Meetings - The third board meeting was held on October 28, 2025, with all members present, and the third supervisory meeting was also conducted on the same day, confirming the accuracy and completeness of the financial report [11][15][12][16]

Core Insights - The seventh Chushang Conference opened on October 29, gathering over a thousand Chushang business leaders and representatives to discuss development and sign 18 key projects worth a total of 33.13 billion yuan, injecting strong momentum into Hubei's high-quality development [1][2] Group 1: Investment and Economic Development - The total investment amount from Chushang projects signed since the establishment of the Chushang United Association in 2013 has exceeded 2.1 trillion yuan, highlighting the significant role of Chushang in supporting hometown development [1] - During the conference, a total of 57 cooperative projects were reached across various cities, amounting to 67.6 billion yuan, showcasing the ongoing investment interest in Hubei [2] - Prior promotional activities in regions such as Beijing-Tianjin-Hebei, Yangtze River Delta, Guangdong-Hong Kong-Macau Greater Bay Area, and Chengdu-Chongqing area resulted in 150 signed projects worth 131.21 billion yuan, reflecting a trend of "industry returning, capital flowing back, projects reinvesting, headquarters relocating, and talent returning" [2] Group 2: Industry Focus and Future Outlook - The signed projects cover diverse sectors including optoelectronic information, new energy, energy conservation and environmental protection, health, high-end equipment, biomedicine, and big data, indicating a broad industrial focus [2] - The conference featured five thematic activities aimed at promoting technological innovation, green low-carbon development, internationalization, youth engagement, and showcasing quality products, emphasizing the multifaceted approach to development [2] - Chushang has entered a new era of development characterized by the growth of new technology, manufacturing, and consumption enterprises, with leaders expressing confidence in the future strength of Chushang [1]

Core Insights - China's poverty alleviation experience is being promoted as a model for rural development in the Asia-Pacific region, aiming for more inclusive and equitable globalization [1] Group 1: Poverty Alleviation Techniques - The "Happy Grass" initiative in Papua New Guinea illustrates the successful application of mushroom cultivation technology, which has transformed local agricultural practices and contributed to poverty alleviation [2][3] - The introduction of mushroom cultivation using grass has led to significant agricultural outputs, including 853 tons per hectare of giant grass and 11.3 tons per hectare of drought-resistant rice [2] Group 2: Capacity Building and Governance - The "Village Head Class" program in Indonesia aims to enhance local governance by training village leaders in rural development practices, with over 100 village heads participating since its inception [4][5] - The program emphasizes sharing knowledge and successful practices in areas such as rural governance, industry development, and environmental protection, tailored to local conditions [5] Group 3: Regional Economic Integration - China's support for regional economic integration includes infrastructure projects that reduce logistics costs for rural areas, facilitating access to larger markets for agricultural products [6] - Trade initiatives, such as reducing tariffs on agricultural imports from Asia-Pacific countries, have directly benefited local farmers, as seen in the case of Vietnamese durian exports to China [6] Group 4: Sustainable Development Model - The essence of China's poverty alleviation strategy lies in a "people-centered" approach, focusing on sustainable development through infrastructure and industry development tailored to local needs [7] - The collaborative efforts in the Asia-Pacific region are creating a new landscape for rural development, contributing to a shared prosperity framework [7]