Core Viewpoint - COFCO Technology (000930.SZ) announced a capital increase of up to 90 million yuan to support Jilin COFCO Biochemical Packaging Co., Ltd. due to declining profitability and high asset-liability ratio caused by weak downstream market demand and reduced packaging material usage [1] Group 1: Financial Performance - Jilin COFCO Biochemical Packaging Co., Ltd. is facing significant pressure on its liquidity and has experienced a decline in profitability [1] - The company's asset-liability ratio remains high, indicating potential financial instability [1] Group 2: Capital Increase Details - COFCO Biotechnology Co., Ltd. will invest no more than 90 million yuan of its own funds for the capital increase [1] - After the capital increase, the ownership structure of Jilin COFCO Biochemical Packaging Co., Ltd. will change, with Changheng Co., Ltd. holding no less than 36.9603% and COFCO Biotechnology Co., Ltd. holding no more than 63.0397% [1]

证券代码：000930 证券简称：中粮科技 公告编号：2025-076 中粮生物科技股份有限公司 关于向吉林中粮生化包装有限公司 股权增资的公告 本公司及董事会全体成员保证公告内容真实、准确和完整，没有虚假记载、 误导性陈述或者重大遗漏。 一、本次增资概述 3. 根据《深圳证券交易所股票上市规则》等相关规定，本次投资属于公司 董事会审批权限范围，无须提交股东大会审议。2025 年 10 月 14 日，公司第九 届董事会四次会议以 7 票同意、0 票反对、0 票弃权审议通过了《关于向全资 子公司吉林中粮生化包装有限公司股权增资的议案》。 4. 本次增资不构成关联交易，也不构成《上市公司重大资产重组管理办法》 规定的重大资产重组。 二、增资标的情况 1. 成立日期：2003 年 6 月 11 日 2. 注册资本：7,973.428708 万元人民币 3. 注册地址：吉林省东丰县东丰工业集中区起步区 1. 受下游市场需求持续疲软、包装物使用量缩减等因素影响，吉林中粮生 化包装有限公司盈利水平下降，流动资金面临较大压力，资产负债率持续处于高 位。为确保其正常生产经营活动有序开展，中粮生物科技股份有限公司（以下简 称公 ...

Group 1 - Company announced that its ninth board meeting will be held on October 14, 2025, using a combination of in-person and communication methods [1] - The meeting will review the proposal for capital increase in Jilin COFCO Biochemical Packaging Co., Ltd. [1] - For the first half of 2025, the company's revenue composition shows that agricultural product processing and sales account for 98.33%, while other businesses account for 1.67% [1] Group 2 - As of the report, the company's market capitalization is 11.2 billion yuan [1]

Group 1 - The company plans to invest up to 90 million yuan of its own funds to ensure the normal production and operation of Jilin COFCO Biochemical Packaging Co., Ltd [1] - After the capital increase, Changheng Co., Ltd. will hold no less than 36.9603% of the equity in Jilin COFCO Biochemical Packaging Co., Ltd., while the company will hold no more than 63.0397% [1] - As of December 31, 2024, Jilin COFCO Biochemical Packaging Co., Ltd. had total assets of 124 million yuan, total liabilities of 104 million yuan, and net assets of 20.6659 million yuan [1] Group 2 - For the fiscal year 2024, the company reported an operating income of 109 million yuan and a net profit of -58.9147 million yuan [1] - As of June 30, 2025, the total assets of Jilin COFCO Biochemical Packaging Co., Ltd. were 98.959 million yuan, total liabilities were 94.8839 million yuan, and net assets were 4.0751 million yuan [1] - For the first half of 2025, the company reported an operating income of 41.2235 million yuan and a net profit of -16.5908 million yuan [1]

中粮科技公告，为确保吉林中粮生化包装有限公司正常生产经营活动，拟使用不超过9000万元自有资金 进行增资。增资完成后，昌衡有限公司持有吉林中粮生化包装有限公司不低于36.9603%的股权，公司 持有不超过63.0397%的股权。2024年12月31日，吉林中粮生化包装有限公司资产总额为1.24亿元，负债 总额为1.04亿元，净资产为2066.59万元。2024年度营业收入为1.09亿元，净利润为-5891.47万元。2025 年6月30日，资产总额为9895.9万元，负债总额为9488.39万元，净资产为407.51万元。2025年1—6月营 业收入为4122.35万元，净利润为-1659.08万元。 ...

九届董事会四次会议决议公告 本公司及董事会全体成员保证公告内容真实、准确和完整，没有虚假记载、误导 性陈述或者重大遗漏。 证券代码：000930 证券简称：中粮科技 公告编号：2025-075 中粮生物科技股份有限公司 一、会议出席情况 中粮生物科技股份有限公司（以下简称公司）于 2025 年 9 月 27 日分别以电子邮 件和专人送达的方式向公司全体董事、监事和高级管理人员发出召开九届董事会四次 会议的书面通知。会议于 2025 年 10 月 14 日如期召开。在保障所有董事充分表达意 见的情况下，本次董事会采用现场结合通讯方式进行表决。本次董事会会议材料同时 提交公司监事及高级管理人员审阅。会议应参加表决董事 7 人，实际参加表决的董事 共 7 人，参加表决的董事有：江国金先生、张德国先生、郭斐女士、郑合山先生、张 念春先生、汪平先生、马莺女士，符合《公司法》和《公司章程》的相关规定。 二、议案审议情况 1.以 7 票同意、0 票反对、0 票弃权的表决结果审议通过了《关于向吉林中粮生 化包装有限公司股权增资的议案》 具体内容详见同日刊登在巨潮资讯网、《中国证券报》《证券时报》《证券日报》《上 海证券报》的 ...

Core Insights - D-Allulose, a new low-GI sweetener, has been approved for commercial use in China, with significant industry interest and potential applications in food products [1][2][4] - The global market for D-Allulose is projected to reach $14.77 million in 2024, with a compound annual growth rate (CAGR) exceeding 14% from 2025 to 2034 [3] Industry Overview - The approval of D-Allulose aligns with the "Healthy China Action (2019-2030)" initiative, which aims to limit daily added sugar intake to 25 grams per person by 2030 [1] - D-Allulose is recognized for its sugar-like taste, low caloric content (1.67 kJ/g or 0.4 kcal/g), and potential health benefits, including no impact on blood lipids or uric acid levels [2] Production and Supply Chain - D-Allulose can be produced through two main methods: fermentation using E. coli and enzyme-catalyzed conversion [4][5] - Companies like COFCO and Zhongda Hengyuan are actively developing production capabilities, with COFCO utilizing self-developed enzymes for production [5] - The production process is complex, with a need for advanced technology and significant initial investment, leading to a competitive landscape among producers [4][5] Market Dynamics - Downstream companies, including Wahaha and Mengniu, are showing interest in D-Allulose, but large-scale application is still in the testing phase [6][7] - The current cost of D-Allulose is significantly higher than other sweeteners, with prices ranging from 20,000 to 24,000 yuan per ton, compared to around 10,000 yuan per ton for erythritol [8] Future Prospects - The industry is optimistic about D-Allulose's potential, citing its broader application scenarios compared to erythritol, particularly in products sensitive to crystallization [10] - Key factors for market success include ongoing technological innovation, cost control, and the establishment of a complete industry ecosystem [10]

Core Viewpoint - The launch of D-Tagatose products marks a significant breakthrough in the independent research and industrialization of high-end functional sugars by the company [2]. Product Overview - On September 23, 2025, the company held a product launch event for D-Tagatose in Beijing, targeting food industry clients across various sectors including beverages, dairy products, baking, and ready-to-drink tea and coffee [1]. - The D-Tagatose product is developed using an enzyme production process in collaboration with the COFCO Nutrition and Health Research Institute, featuring a taste profile similar to sucrose but with only 10% of its calories, catering to the trend of low-calorie sugar intake [1]. - The product can also undergo Maillard reaction with proteins, making it suitable for applications in baking and beverages where color and flavor enhancement are desired [1]. Impact on the Company - The introduction of D-Tagatose enriches the company's product portfolio and creates favorable conditions for exploring emerging markets and nurturing new business growth points [3]. - The company has outlined a three-phase capacity planning strategy: immediate production through existing equipment, mid-term capacity expansion via technological upgrades, and long-term establishment of a complete production system with new production lines [2]. Future Development - As a member of the COFCO Group, the company plans to leverage the group's resource advantages and innovation capabilities to promote integration of production and research, enhance core technology upgrades, and expand capacity sustainably [2].

Industry Insights - The launch of D-alloheptulose, the first domestic product of its kind, fills a gap in the high-end functional sugar market in China and signifies a breakthrough in biomanufacturing technology [1] - D-alloheptulose is recognized for its low energy content and non-glycemic properties, making it a potential substitute for traditional food sweeteners, with safety approvals from multiple countries [1] - The global market for D-alloheptulose is projected to reach $147 million by 2024, with an expected compound annual growth rate (CAGR) of 14% from 2025 to 2034 [1] Company Developments - Bailong Chuangyuan is noted as the first company in China to achieve industrial-scale production of D-alloheptulose [3] - Baolingbao is one of the earliest companies to invest in D-alloheptulose projects, currently operating over 5,000 tons of production capacity, with plans to expand to 30,000 tons by 2026 [3] Market Dynamics - Currently, all D-alloheptulose products from China are exported, but domestic applications are expected to accelerate following its official approval [2]

Group 1 - The core viewpoint of the article is the launch of China's first D-Tagatose product developed by COFCO Biotechnology and COFCO Nutrition and Health Research Institute, marking a significant advancement in the alternative sweetener market [1] - D-Tagatose is a six-carbon ketose sugar that is naturally found in small amounts in various plants such as figs, kiwis, and wheat, with a sweetness level approximately 70% that of sucrose and only about 10% of its calories, positioning it as a new type of sugar substitute following erythritol [1] - Several downstream companies, including Bawang Tea Ji, Qu Tea Mountain, Beijing Daoxiangcun, Mengniu Dairy, and Harbin Qiulin Beverage, have signed intention orders with COFCO Biotechnology for products made with D-Tagatose, indicating strong market interest and potential demand [1] Group 2 - In July of this year, the National Health Commission of China officially approved D-Tagatose as a new food ingredient, which is expected to facilitate its integration into the food and beverage industry [1]