证券代码：000895 证券简称：双汇发展 公告编号：2024-30 河南双汇投资发展股份有限公司 关于召开2024年第一次临时股东大会的通知 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚 假记载、误导性陈述或重大遗漏。 一、召开会议的基本情况 (一) 股东大会届次：本次股东大会为公司 2024 年第一次临时股东大会 (二) 股东大会的召集人：公司董事会 (三) 会议召开的合法、合规性：公司于 2024 年 8 月 10 日召开第八届董事会 第二十二次会议，会议以 8 票同意、0 票反对、0 票弃权审议通过《关于召开 2024 年第一次临时股东大会的议案》。本次股东大会会议的召开符合有关法律法规、 深圳证券交易所业务规则和《河南双汇投资发展股份有限公司章程》（以下简称 《公司章程》）的规定。 (四) 会议召开的日期、时间： 1．现场会议时间：2024 年 8 月 29 日（星期四）15:30。 2．网络投票时间：2024 年 8 月 29 日。 其中，通过深圳证券交易所交易系统进行网络投票的具体时间为 2024 年 8 月 29 日 9:15~9:25，9:30~11:30 和 13:00 ...

2024 年半年度募集资金存放与实际使用情况专项报告 河南双汇投资发展股份有限公司 一、募集资金基本情况 （一）实际募集资金金额及资金到位时间 经中国证券监督管理委员会出具的《关于核准河南双汇投资发展股份有限公 司非公开发行股票的批复》（证监许可[2020]1979 号）核准，公司向特定投资者 非公开发行人民币普通股 145,379,023 股，每股发行价格为 48.15 元，募集资金 总额为人民币 6,999,999,957.45 元，扣除承销费、保荐费、律师费、验资费用等 发行费用 32,318,315.72 元后，实际募集资金净额为人民币 6,967,681,641.73 元。 上述募集资金到位情况业经安永华明会计师事务所（特殊普通合伙）验证，并于 2020 年 9 月 18 日出具安永华明（2020）验字第 61306196_R02 号验资报告。 （二）募集资金的实际使用金额及余额 | 项目 | | | | | 金额（万元） | | | --- | --- | --- | --- | --- | --- | --- | | 募集资金净额 | | | | | 696,768.16 | | | 减：累计使 ...

证券代码：000895 证券简称：双汇发展 公告编号：2024-29 河南双汇投资发展股份有限公司 关于 2024 年半年度利润分配预案的公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚 假记载、误导性陈述或重大遗漏。 河南双汇投资发展股份有限公司（以下简称公司）于 2024 年 8 月 10 日召开 第八届董事会第二十二次会议和第八届监事会第十四次会议，会议审议通过了 《公司 2024 年半年度利润分配预案》，本议案尚待提交公司股东大会审议。现 将相关事项公告如下： 一、 利润分配预案的基本情况 2024 年半年度公司合并利润表实现归属于上市公司股东的净利润为 2,296,351,131.43 元，截至 2024 年 6 月 30 日，公司合并资产负债表未分配利润 为 7,205,883,782.72 元，母公司资产负债表未分配利润为 3,547,909,707.45 元。本 次利润分配预案如下： 拟以公司现有总股本 3,464,661,213 股为基数，向全体股东按每 10 股派发现 金红利 6.60 元(含税)，共计派发现金红利 2,286,676,400.58 元，不送红股，也不 ...

证券代码：000895 证券简称：双汇发展 公告编号：2024-17 经中国证券监督管理委员会出具的《关于核准河南双汇投资发展股份有限公 司非公开发行股票的批复》（证监许可[2020]1979 号）核准，公司向特定投资者 非公开发行人民币普通股 145,379,023 股，每股发行价格为 48.15 元，募集资金 总额为人民币 6,999,999,957.45 元，扣除承销费、保荐费、律师费、验资费用等 发行费用 32,318,315.72 元后，实际募集资金净额为人民币 6,967,681,641.73 元。 上述募集资金到位情况业经安永华明会计师事务所（特殊普通合伙）验证，并于 2020 年 9 月 18 日出具安永华明（2020）验字第 61306196_R02 号验资报告。 1 二、募集资金的存放与管理情况 （一）募集资金管理情况 公司依照《中华人民共和国公司法》《中华人民共和国证券法》《上市公司 监管指引第 2 号——上市公司募集资金管理和使用的监管要求》《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，制定了公司《募集资金管理办法 ...

证券研究报告 | 2024年04月28日 双汇发展（000895.SZ） 买入 2024 一季报点评：肉制品吨利稳步提升，屠宰端冻品盈利受 行情影响承压 核心观点 公司研究·财报点评 2024Q1营收与净利同比承压，受行情低迷、销量高基数影响，整体销售规 农林牧渔·农产品加工 模下滑。公司2024Q1实现营业总收入143.1亿元，同比-8.9%，归母净 证券分析师：鲁家瑞 证券分析师：李瑞楠 利12.7亿元，同比-14.5%，环比+4.0%。分业务看，屠宰业务方面，鲜 021-61761016 021-60893308 lujiarui@guosen.com.cn liruinan@guosen.com.cn 品盈利相对稳定，但冻品因2024Q1行情同比反差较大、盈利下降，目 S0980520110002 S0980523030001 前公司冻品库存较高，整体成本相对低，未来将结合行情加强冻品运作， 联系人：江海航 预计有望受益于下半年猪价景气回升；肉制品业务方面，得益于有效成 010-88005306 jianghaihang@guosen.com.cn 本控制、产品结构优化，2024Q1吨均盈利同比+21 ...

公 司 研 证券研究报告 究 ＃＃iinndduussttrryyIIdd＃＃ 肉制品 ＃investSuggestion＃ ＃ ＃d 双yCo 汇mp 发any＃展 （ 000895 ） investSug 增持 ( 维ges持tion ）Ch 0 需00 求00 疲9 软销 量下滑， 成＃ 本tit 红le＃ 利 下 肉制品吨利创新高 ange＃ ＃ createTime1＃ 2024年 4月 24日 投资要点 公 ＃市m场a数rk据et Data＃ ＃ ⚫ sum 事ma 件ry＃ ： 公司发布 2024 年一季报：24Q1 总营收/归母净利润/扣非归母净利润 司 日期 2024-04-23 分别为143.08/12.72/12.45亿元，同比-8.92%/-14.54%/-11.12%。 点 收盘价（元） 27.19 评 总股本（百万股） 3,464.66 ⚫ 肉制品：需求疲软致销量下滑，成本红利下吨利创历史新高。Q1肉制品业务 收入67.93亿元、同比-4.5%，经营利润18.87亿元、同比+15.7%。拆分量价 报 流通股本（百万股） 3,464.12 净资产（百万元） 22,114.85 利来看 ...

Investment Rating - The report maintains an "Accumulate" rating for the company [2]. Core Views - The company reported a total revenue of 14.308 billion yuan in Q1 2024, a decrease of 8.92% year-on-year, with a net profit attributable to shareholders of 1.272 billion yuan, down 14.54% [3]. - The gross margin improved by 2.13 percentage points year-on-year to 19.38% in Q1 2024, driven by an upgrade in the meat product structure [3]. - The company is accelerating the upgrade of meat products and expanding its sales network, which is expected to support steady growth in meat product sales [4]. - The forecasted net profits for 2024, 2025, and 2026 are 5.334 billion yuan, 5.641 billion yuan, and 5.941 billion yuan, respectively, reflecting year-on-year growth rates of 5.57%, 5.76%, and 5.32% [4]. Summary by Sections Financial Performance - In Q1 2024, the total external sales volume of meat was 780,900 tons, a decrease of 4.43% year-on-year [3]. - The company's selling and administrative expense ratios were 3.39% and 2.20%, respectively, with increases of 0.29 and 0.44 percentage points year-on-year [3]. - The net profit margin for Q1 2024 was 8.91%, down 0.59 percentage points year-on-year, primarily due to increased financial expenses and income tax rates [3]. Product and Market Strategy - The company is focusing on launching new high-margin products such as light chicken sausages and energy sausages, which are expected to enhance the profitability of packaged meat products [4]. - The company has over 1 million sales outlets in China and is actively expanding its network to support sales growth [4]. Earnings Forecast - The projected earnings per share for 2024, 2025, and 2026 are 1.54 yuan, 1.63 yuan, and 1.71 yuan, respectively [5]. - The price-to-earnings ratios for 2024, 2025, and 2026 are estimated to be 18, 17, and 16 times, respectively, based on the market capitalization of 94.2 billion yuan [4].

Investment Rating - The investment rating for the company is "Outperform" (Maintain) [2][4] Core Views - The company's Q1 2024 revenue was 14.31 billion yuan, a year-on-year decrease of 8.9%, with a net profit attributable to shareholders of 1.27 billion yuan, down 14.5% year-on-year. The profit forecast for 2024-2026 is maintained, with expected net profits of 5.44 billion, 5.80 billion, and 6.17 billion yuan, representing growth rates of 7.7%, 6.6%, and 6.4% respectively. The corresponding EPS for these years is projected to be 1.57, 1.67, and 1.78 yuan, with current PE ratios of 16.5, 15.5, and 14.5 times [4][5][6] Summary by Sections Financial Performance - In Q1 2024, the slaughtering business faced pressure with revenue of 6.6 billion yuan, a year-on-year decline of 16.5%, and operating profit of 95.67 million yuan, down 68.5% year-on-year. The fresh product segment's profitability remained stable, while frozen product profitability declined, leading to a decrease in overall profitability for the fresh product division [5][6] - The meat product segment reported a revenue decline of 4.5% to 6.79 billion yuan, attributed to a high base from the previous year due to pandemic control measures. However, operating profit increased by 15.7% to 1.89 billion yuan, driven by cost control and product mix improvements [6][7] Market Outlook - The company plans to implement several strategies in 2024 to enhance sales and profitability, including expanding the number and quality of distribution points, adjusting product structures, developing new products, and increasing market investments to boost competitiveness [6][7] - The forecast for 2024 indicates that despite short-term pressures on the slaughtering business, the meat product segment is expected to maintain high profitability levels, with volume and profit growth anticipated [5][6]

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company's Q1 2024 report shows a decline in revenue and net profit, with operating income at 14.269 billion yuan, down 8.92% year-on-year, and net profit attributable to shareholders at 1.272 billion yuan, down 14.54% year-on-year [3] - Despite the decline in sales volume, the profit per ton of meat products reached a historical high of 5,000 yuan/ton, benefiting from low pork prices and ongoing product structure upgrades [4][5] - The company is expected to achieve revenue growth of 3% in 2024, with net profit growth of 6%, and maintain a strong profit margin due to cost control and product mix optimization [6][7] Summary by Sections Financial Performance - In Q1 2024, the company achieved operating income of 14.269 billion yuan, a decrease of 8.92% year-on-year, and a net profit of 1.272 billion yuan, down 14.54% year-on-year [3] - The meat products segment generated revenue of 6.793 billion yuan, a decline of 4.5% year-on-year, but operating profit increased by 15.7% to 1.887 billion yuan [4] - The profit margin for meat products reached 27.78%, an increase of 4.85 percentage points year-on-year [4] Market Position - The company's stock is currently priced at 27.53 yuan, with a market capitalization of approximately 95.38 billion yuan [4] - The stock has shown a performance of -3.3% over the past month, 3.0% over the past three months, and 12.7% over the past year, compared to the CSI 300 index [5] Future Outlook - The company is projected to achieve operating revenues of 62.111 billion yuan in 2024, with a growth rate of 3%, and net profit of 5.332 billion yuan, reflecting a growth rate of 6% [6][7] - The expected earnings per share (EPS) for 2024 is 1.54 yuan, with a price-to-earnings (P/E) ratio of 17.67 [7][8]

Investment Rating - The report maintains a "Strong Buy" rating for the company with a target price of 32 CNY, compared to the current price of 27.53 CNY [2][8]. Core Views - The company continues to face operational pressure, with Q1 2024 total revenue at 14.31 billion CNY, down 8.9% year-on-year, and net profit attributable to shareholders at 1.27 billion CNY, down 14.5% year-on-year. However, the net cash flow from operating activities improved significantly to 1.45 billion CNY from a negative 5.55 million CNY in the same period last year [2][8]. - The meat product business is under pressure due to high base effects, but the company has managed to increase profit per ton by 22% to 5,000 CNY/ton, achieving a record high for a single quarter. The operating profit for the meat product segment increased by 15.7% year-on-year to 1.89 billion CNY [2][8]. - The slaughtering and other businesses faced challenges due to low-price competition, resulting in a 16.5% year-on-year decline in revenue to 6.60 billion CNY, with operating profit down 68.5% to 96 million CNY [2][8]. - The company is focusing on high-quality development in the meat product segment and aims to stabilize profits in the slaughtering business while gradually improving the breeding business, which is currently facing losses [2][8]. Financial Summary - For 2023, total revenue is projected at 59.89 billion CNY, with a year-on-year decline of 4.3%. The net profit attributable to shareholders is expected to be 5.05 billion CNY, down 10.1% year-on-year. The earnings per share (EPS) for 2024 is forecasted at 1.58 CNY [2][12]. - The company’s current dividend yield stands at 5.3%, which remains attractive [2][8]. - The financial ratios indicate a price-to-earnings (P/E) ratio of 17 for 2024, with a projected P/B ratio of 4.5 [2][12].