Core Viewpoint - The company is establishing a joint venture with two investment funds to enhance its capabilities in rural development and pig farming, aiming for sustainable growth and improved operational efficiency [1][2] Group 1: Joint Venture Details - The joint venture, tentatively named New Six Innovation Rural Development Co., Ltd., will have a total registered capital of 2.87 billion yuan, with the company contributing 2.1 billion yuan (73.17%), the central enterprise fund contributing 700 million yuan (24.39%), and the underdeveloped regions fund contributing 70 million yuan (2.44%) [1] - The joint venture will acquire 100% equity of three subsidiaries: Baiyin New Hope Agricultural Technology Co., Ltd., Panzhou New Six Agricultural Development Co., Ltd., and Guanyin New Breeding Co., Ltd. [1] - The joint venture plans to establish 16 new subsidiaries focused on pig farming in key support areas, utilizing a "company + farmer" model without increasing overall pig production capacity [1] Group 2: Strategic Benefits - The investment introduces new strategic partners, allowing the company to leverage their strengths for long-term sustainable development [2] - The collaboration is expected to enhance resource integration within the industry, improve asset utilization efficiency, reduce operational costs, and boost overall competitiveness and profitability [2]

Core Viewpoint - The company is establishing a joint venture with two investment funds to enhance its rural development initiatives and improve operational efficiency [1][2] Group 1: Joint Venture Details - The joint venture, named New Six Innovation Rural Development Co., Ltd., will have a total registered capital of 2.87 billion yuan, with the company contributing 2.1 billion yuan (73.17%), the central enterprise fund contributing 700 million yuan (24.39%), and the underdeveloped regions fund contributing 70 million yuan (2.44%) [1] - The joint venture will acquire 100% equity of three subsidiaries: Baiyin New Hope Agricultural Technology Co., Ltd., Panzhou New Six Agricultural Development Co., Ltd., and Guanyin New Livestock Breeding Co., Ltd. [1] - The joint venture plans to establish 16 new subsidiaries focused on pig farming in key support areas, utilizing a "company + farmer" model without increasing overall pig production capacity [1] Group 2: Strategic Benefits - The investment introduces new strategic partners, allowing the company to leverage their strengths for long-term sustainable development [2] - The collaboration is expected to enhance resource integration within the industry, improve asset utilization efficiency, reduce operational costs, and boost overall competitiveness and profitability [2]

Core Insights - New Hope (000876.SZ) reported its pig sales for October 2025, indicating significant changes in both sales volume and revenue [1] Sales Performance - The company sold 1.6851 million pigs in October 2025, representing a month-on-month increase of 20.86% and a year-on-year increase of 34.44% [1] - The substantial year-on-year growth in sales volume is attributed to a significant increase in the number of new births and the release of piglets [1] Revenue Analysis - The revenue for October 2025 reached 1.918 billion yuan, showing a month-on-month increase of 9.85% but a year-on-year decrease of 7.83% [1] Pricing Trends - The average selling price of commercial pigs was 11.28 yuan per kilogram, reflecting a month-on-month decrease of 12.49% and a year-on-year decrease of 35.06% [1] - The significant year-on-year decline in selling prices is primarily influenced by changes in the domestic pig market conditions [1]

Core Insights - The company reported a significant increase in the sales volume of live pigs for October 2025, reaching 1.6851 million heads, which represents a month-on-month increase of 20.86% and a year-on-year increase of 34.44% [1] - Revenue for the same period was 1.918 billion yuan, showing a month-on-month increase of 9.85% but a year-on-year decrease of 7.83% [1] - The average selling price of commodity pigs was 11.28 yuan per kilogram, reflecting a month-on-month decrease of 12.49% and a year-on-year decrease of 35.06%, primarily due to changes in the domestic live pig market [1]

Core Viewpoint - New Hope (000876.SZ) reported significant changes in its pig sales for October 2025, with a notable increase in sales volume but a decline in revenue and average selling price [1] Sales Performance - The company sold 1.6851 million pigs in October 2025, representing a month-on-month increase of 20.86% and a year-on-year increase of 34.44% [1] - The substantial year-on-year growth in sales volume is attributed to a significant increase in the number of new births and the release of piglets [1] Revenue and Pricing - Revenue for October 2025 reached 1.918 billion yuan, showing a month-on-month increase of 9.85% but a year-on-year decrease of 7.83% [1] - The average selling price of commodity pigs was 11.28 yuan per kilogram, reflecting a month-on-month decrease of 12.49% and a year-on-year decrease of 35.06% [1] - The significant year-on-year decline in selling price is primarily influenced by changes in the domestic pig market conditions [1]

Group 1 - The core point of the article is that New Hope (SZ 000876) announced a board meeting held on November 5, 2025, to discuss the use of idle fundraising for temporary working capital [1] - For the first half of 2025, New Hope's revenue composition is as follows: feed accounted for 68.72%, pig industry 27.83%, and other industries 3.44% [1] - As of the report, New Hope's market capitalization is 44 billion yuan [1]

招商证券股份有限公司 使用部分闲置募集资金临时补充流动资金的核查意见 招商证券股份有限公司（以下简称"招商证券"或"保荐机构"）作为新希 望六和股份有限公司（以下简称"新希望"或"公司"）持续督导的保荐机构， 根据《证券发行上市保荐业务管理办法》、《深圳证券交易所股票上市规则（2025 年修订）》、《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（2025 年修订）》等有关规定，对新希望使用部分闲置募集资金临时补充 流动资金事项进行了认真、审慎的核查，发表如下独立核查意见： 一、募集资金基本情况 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[2021]1351 号）核 准，公司向社会公开发行面值总额 8,150,000,000.00 元可转换公司债券，每张面 值 100 元人民币，共 8,150 万张，期限 6 年，募集资金总额为 8,150,000,000.00 元人民币，扣除发行费用后募集资金净额为 8,133,096,400.00 元人民币。经四川 华信（集团）会计师事务所（特殊普通合伙）审验，并出具 ...

Core Viewpoint - The company is actively responding to the national rural revitalization strategy by focusing on agricultural development in key support areas, aiming to enhance farmers' income and promote sustainable regional economic growth, thereby achieving a win-win situation of social value and economic benefits [1] Investment and Partnership - The company plans to jointly invest with the Central Enterprise Rural Industry Investment Fund Co., Ltd. and the Underdeveloped Areas Industry Development Fund Co., Ltd. to establish a new joint venture named New Six Innovation Rural Development Co., Ltd. (tentative name) [1] - The total registered capital of the joint venture is 287 million yuan, with the company contributing 210 million yuan (73.17%), the Central Enterprise Fund contributing 70 million yuan (24.39%), and the Underdeveloped Fund contributing 7 million yuan (2.44%) [1] Acquisition and Expansion - Following its establishment, the joint venture will acquire 100% equity of the company's wholly-owned subsidiary Baiyin New Hope Animal Husbandry Technology Co., Ltd., and Panzhou New Six Animal Husbandry Development Co., Ltd., as well as the controlling subsidiary Guanyin New Animal Husbandry Co., Ltd. [1] - The joint venture will also independently establish sixteen new subsidiaries in key support areas for pig farming, primarily adopting an "enterprise + farmer" free-range model, without increasing the company's and industry's pig production capacity [1]

Core Viewpoint - New Hope (000876.SZ) reported significant changes in its pig sales and revenue for October 2025, indicating a notable increase in sales volume but a decline in revenue and prices due to market conditions [1] Sales Performance - The company sold 1.6851 million pigs in October 2025, representing a month-on-month increase of 20.86% and a year-on-year increase of 34.44% [1] - The substantial year-on-year growth in sales volume is attributed to an increase in the number of new births and the release of piglets [1] Revenue and Pricing - The revenue for October 2025 was 1.918 billion yuan, showing a month-on-month increase of 9.85% but a year-on-year decrease of 7.83% [1] - The average selling price of commercial pigs was 11.28 yuan per kilogram, reflecting a month-on-month decrease of 12.49% and a year-on-year decrease of 35.06% [1] - The significant year-on-year decline in selling prices is primarily influenced by changes in the domestic pig market [1]

| | | 新希望六和股份有限公司 关于使用部分闲置募集资金临时补充流动资金的公告 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。 新希望六和股份有限公司（以下简称"公司"）第十届董事会第 八次会议、第十届监事会第八次会议于 2025 年 11 月 5 日以通讯表决 的方式分别审议通过了《关于使用部分闲置募集资金临时补充流动资 金的议案》，同意公司使用不超过人民币 38,700.00 万元闲置募集资金 临时补充流动资金，使用期限自公司董事会审议通过之日起不超过 12 个月。具体情况如下: 2024 年 11 月 7 日，公司分别召开第九届董事会第三十八次会议、 第九届监事会第二十五次会议，审议通过了《关于使用部分闲置募集 资金临时补充流动资金的议案》，同意公司使用不超过人民币 39,600.00 万元闲置募集资金临时补充流动资金，使用期限自公司董 事会审议通过之日起不超过 12 个月。 一、募集资金基本情况 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 [2021]1351 号 ...