2025年5月份生猪销售简报 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。 一、2025年5月份生猪销售情况简报 2025年5月份，公司共销售生猪15.54万头，销售收入2.03亿元，环比下降 8.77%；商品猪销售均价15.57元/公斤，环比下降1.55%。其中向全资子公司河源 市东瑞肉类食品有限公司销售生猪0.53万头。 上述销售数据未经审计，与定期报告披露的数据之间可能存在差异，因此上 述数据仅作为阶段性数据供投资者参考。 | 时间 | | 生猪销售数量 | | 生猪销售收入 | 商品猪价格 | | --- | --- | --- | --- | --- | --- | | | | （万头） | | （亿元） | （元/公斤） | | | 当月 | 累计 | 当月 | 累计 | 当月 | | 2024年5月 | 6.99 | 29.04 | 1.25 | 4.99 | 16.90 | | 2024年6月 | 6.35 | 35.39 | 1.23 | 6.21 | 20.05 | | 2024年7月 | 6.59 | 41.98 | 1.26 | 7. ...

证券代码：001201 证券简称：东瑞股份 公告编号：2025-025 东瑞食品集团股份有限公司 2024年度股东大会决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 特别提示： 1、东瑞食品集团股份有限公司（以下简称"公司"或"本公司"）于2025 年04月26日在《证券时报》《中国证券报》《上海证券报》《证券日报》和巨潮 资讯网站上刊登了《关于召开2024年度股东大会的通知》，本次股东大会以现场 表决和网络表决相结合的方式召开； 2、本次股东大会未出现否决议案的情况； 3、本次股东大会未涉及变更前次股东大会决议的情形。 一、会议召开情况 1、会议召开时间 （1）现场会议时间：2025年05月20日（星期二）上午10:00 （2）网络投票时间：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2025年05月20日上午09:15-09:25,09:30-11:30，下午13:00-15:00；通过深 圳证券交易所互联网投票系统进行网络投票的时间为2025年05月20日上午09:15 至下午15:00期间的任意时间。 （1）现场出席会议的股东及股东代 ...

根据中国证券监督管理委员会发布的《上市公司股东会规则》(以下简称《股 东会规则》)的要求，国浩律师(广州)事务所(以下简称"本所")接受东瑞食品 集团股份有限公司(以下简称"东瑞股份")的委托，指派郭飏、陈伟律师(以下 简称"本所律师")出席东瑞股份 2024 年度股东大会(以下简称"本次股东大会")， 对本次股东大会的召集与召开程序、出席会议人员与召集人的资格、表决程序与 表决结果等重要事项出具法律意见。 本所及本所律师依据《中华人民共和国公司法》(以下简称《公司法》)、《律 师事务所从事证券法律业务管理办法》和《律师事务所证券法律业务执业规则(试 行)》等规定及本法律意见书出具日以前已经发生或者存在的事实，严格履行了 法定职责，遵循了勤勉尽责和诚实信用原则，进行了充分的核查验证，保证本法 律意见书所认定的事实真实、准确、完整，所发表的结论性意见合法、准确，不 存在虚假记载、误导性陈述或者重大遗漏，并承担相应法律责任。 一、本次股东大会的召集与召开 1 北 京 上 海 深 圳 杭 州 广 州 昆 明 天 津 成 都 宁 波 福 州 西 安 南 京 南 宁 济 南 重 庆 苏 州 长 沙 太 原 武 汉 贵 ...

Group 1: Company Performance and Production Capacity - The company has established a production capacity of 2 million pigs and aims to achieve full production by 2026, targeting a sales goal of 2 million pigs [3] - In April 2024, the company sold 60,100 piglets, a month-on-month increase of 101.41%, with a gross profit of approximately 100 CNY per piglet [4] - The company’s total assets and revenue have been continuously growing since its listing in 2021, with the number of pigs sold increasing from 367,600 to 874,400, a growth of 130% [8] Group 2: Financial Performance - In 2024, the company achieved an operating income of 1.52 billion CNY, a year-on-year increase of 46.58%, while the net profit attributable to shareholders was -65.65 million CNY, significantly reducing losses [10] - The company’s complete cost for fattening pigs in April 2024 was 14.8 CNY per kilogram, with a target of 14.5 CNY per kilogram for this year and 14 CNY per kilogram for next year [5][16] Group 3: Market Strategy and Expansion - The company’s domestic market revenue accounted for 65.65% in 2024, with plans to build sales networks in key consumer areas like Shenzhen and Dongguan through partnerships with local supermarkets and e-commerce platforms [4] - The company has a goal to expand its production capacity by an additional 1 million pigs over the next five years, aiming for a total production scale of over 3 million pigs [5] Group 4: Industry Trends and Challenges - The overall pig farming industry in China is expected to see a reasonable adjustment in production capacity, with increasing scale and standardization [18] - The company is focusing on the Guangdong-Hong Kong-Macao Greater Bay Area market, maintaining a significant market share in Hong Kong, which accounted for 20% of the mainland supply with a quota of 224,800 pigs in 2024 [18] Group 5: Disease Control and Investment - The company invested 134 million CNY in veterinary drugs, vaccines, and disinfectants for disease control in 2024, emphasizing the importance of biosecurity measures [9]

证券代码：001201 证券简称：东瑞股份 公告编号：2025-024 东瑞食品集团股份有限公司 2025年4月份生猪销售简报 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。 一、2025年4月份生猪销售情况简报 上述销售数据未经审计，与定期报告披露的数据之间可能存在差异，因此上 述数据仅作为阶段性数据供投资者参考。 | 时间 | | 生猪销售数量 | | 生猪销售收入 | 商品猪价格 | | --- | --- | --- | --- | --- | --- | | | | （万头） | | （亿元） | （元/公斤） | | | 当月 | 累计 | 当月 | 累计 | 当月 | | 2024年4月 | 5.41 | 22.05 | 1.02 | 3.73 | 16.78 | | 2024年5月 | 6.99 | 29.04 | 1.25 | 4.99 | 16.90 | | 2024年6月 | 6.35 | 35.39 | 1.23 | 6.21 | 20.05 | | 2024年7月 | 6.59 | 41.98 | 1.26 | 7.47 | 20.3 ...

Group 1 - The stock price of Dongrui Co., Ltd. (001201) closed at 14.57 yuan on May 6, 2025, with an increase of 2.03% and a trading volume of 46,200 shares, resulting in a total transaction amount of 66.49 million yuan [1] - The pig farming industry in China is primarily price-driven, but also considers factors such as lean meat rate, body shape, water content, and meat color [2] - China is the largest pig farming and consumption country in the world, with an annual output of 700 million pigs, accounting for nearly 20% of residents' meat consumption [2] Group 2 - The pig farming industry is characterized by strong cyclicality, influenced by supply and demand dynamics, policies, and diseases [2] - The industry structure is shifting from decentralized to centralized, with increasing levels of intensification, scale, and intelligence, where the top 20 pig farming enterprises hold over 20% market share [2] - On May 6, 2025, the net inflow of main funds was 2.83 million yuan, accounting for 4.26% of the total transaction amount, while retail investors had a net inflow of 1.12 million yuan, representing 1.69% of the total [3]

Core Insights - Dongrui Co., Ltd. reported a significant increase in total revenue for 2024, reaching 1.52 billion yuan, a year-on-year growth of 46.58% compared to 1.037 billion yuan in 2023 [1][4] - The company achieved a gross profit of 324 million yuan, successfully turning around from a loss, but still reported a net loss of 66 million yuan, despite an 87.28% year-on-year improvement [1][4] - The company operates in the pig farming, feed production, and slaughter processing sectors, establishing a complete pig industry chain and holding a significant position in the Hong Kong and Macau markets [1] Revenue and Profitability - The substantial revenue growth indicates effective market expansion and business optimization efforts by the company [4] - The gross profit improved significantly from a loss of 14.08 million yuan in 2023 to 324 million yuan, marking a successful turnaround [4] - Despite the improvements, the net loss remains a challenge, particularly in the slaughtering business and joint ventures, which are major contributors to the overall losses [4][7] Business Segments Pig Farming - Dongrui's pig farming business made notable progress in 2024, with quality pig production capacity reaching 2 million heads, including seven registered farms for supplying live pigs to Hong Kong and Macau [4] - The company has developed an integrated industry chain of self-breeding and self-raising, optimizing the distribution of pig products in the Hong Kong and Guangdong markets [4] Feed and Slaughtering - To support stable pig farming operations, Dongrui has established a comprehensive feed supply system with two production bases and an annual capacity of approximately 750,000 tons [6] - The slaughtering business has a capacity of 1 million heads annually, with the company actively expanding its operations through various business models, including opening multiple retail stores and exploring processed meat products [6][7] - Despite the positive market feedback for new products like cured meats, the slaughtering segment continues to face significant losses, which the company aims to address through innovation and product development [7]

东瑞食品集团股份有限公司 持续督导保荐总结报告书 招商证券股份有限公司 关于东瑞食品集团股份有限公司 一、保荐人及保荐代表人承诺 （一）保荐总结报告书和证明文件及其相关资料的内容不存在虚假记载、误 导性陈述或重大遗漏，保荐人及保荐代表人对其真实性、准确性、完整性承担法 律责任。 （二）本机构及本人自愿接受中国证券监督管理委员会（以下简称"中国证 监会"）、深圳证券交易所（以下简称"深交所"）对保荐总结报告书相关事项 进行的任何质询和调查。 （三）本机构及本人自愿接受中国证监会按照《证券发行上市保荐业务管理 办法》的有关规定采取的监管措施。 二、保荐机构基本情况 | 项目 | | 内容 | | | --- | --- | --- | --- | | 保荐机构名称 | 招商证券股份有限公司 | | | | 注册地址 | 深圳市福田区福田街道福华一路 | 111 | 号 | | 办公地址 | 深圳市福田区福田街道福华一路 | 111 | 号 | | 法定代表人 | 霍达 | | | 1 东瑞食品集团股份有限公司 持续督导保荐总结报告书 向特定对象发行股票持续督导保荐总结报告书 招商证券股份有限公司（以下简称"招商证 ...

招商证券股份有限公司 关于东瑞食品集团股份有限公司 一、保荐工作概述 | 项目 | 工作内容 | | --- | --- | | 1.公司信息披露审阅情况 | | | （1）是否及时审阅公司信息披露文件 | 是 | | （2）未及时审阅公司信息披露文件的次数 | 无 | | 2．督导公司建立健全并有效执行规章制度的情况 | | | （1）是否督导公司建立健全规章制度（包括但不限于防止关联方 | | | 占用公司资源的制度、募集资金管理制度、内控制度、内部审计制 | 是 | | 度、关联交易制度） | | | （2）公司是否有效执行相关规章制度 | 是 | | 3.募集资金监督情况 | | | （1）查询公司募集资金专户次数 | 12 次 | | （2）公司募集资金项目进展是否与信息披露文件一致 | 是 | | 4.公司治理督导情况 | | | （1）列席公司股东大会次数 | 1 次，且审阅了历次会 | | | 议通知及其决议 | | （2）列席公司董事会次数 | 1 次，且审阅了历次会 | | | 议通知及其决议 | | （3）列席公司监事会次数 | 0 次，且审阅了历次会 | | | 议通知及其决议 | | ...

Investment Rating - The report maintains a "Strong Buy" rating for the company, expecting it to outperform the benchmark index by over 20% in the next six months [2][15]. Core Insights - The company achieved a revenue of 1.52 billion yuan in 2024, a year-on-year increase of 46.58%, and a net profit attributable to shareholders of -66 million yuan, improving by 87.28% year-on-year. In Q1 2025, revenue reached 494 million yuan, up 76.58% year-on-year, with a net profit of -6 million yuan, an increase of 93.31% year-on-year [2][4]. Financial Performance Summary - **Revenue Growth**: The company is projected to have total revenue of 2.52 billion yuan in 2025, with a growth rate of 65.6%, and 3.25 billion yuan in 2026, with a growth rate of 29.0% [4]. - **Net Profit**: The net profit is expected to turn positive in 2025, reaching 31 million yuan, and further increasing to 303 million yuan in 2026, reflecting a significant growth rate of 146.9% [4]. - **Earnings Per Share (EPS)**: EPS is projected to improve from -0.25 yuan in 2024 to 0.12 yuan in 2025, and further to 1.18 yuan in 2026 [4]. Operational Highlights - The company successfully completed its target of over 800,000 pigs for slaughter in 2024, achieving a 40% year-on-year increase. The slaughter structure includes 63% commercial pigs and 34% piglets [2][8]. - The company aims to achieve a total slaughter of 1.5-1.6 million pigs in 2025 and 2 million in 2026, supported by a fully constructed capacity of 2 million pigs [2][8]. Cost Management - The company has seen a continuous improvement in cost management, with total costs expected to be below 15 yuan/kg in 2025 and 14 yuan/kg in 2026. The cost per piglet has decreased from 400 yuan to 280 yuan [2][8]. - The complete cost has reduced from 17.2 yuan/kg in Q1 2024 to 15.4 yuan/kg in Q1 2025, with further reductions anticipated [2][8]. Capital Expenditure and Financial Health - Capital expenditures are expected to be around 200 million yuan in 2025, significantly lower than previous years, indicating a strong financial position to navigate through market cycles [2][8]. - The company's debt-to-asset ratio stands at 45.4%, which is below 50%, indicating a solid balance sheet and low financial risk [5][8]. Investment Recommendation - Given the company's robust expansion plans, low debt levels, and the absence of significant capital expenditure needs, it is expected to successfully navigate through market downturns and achieve its slaughter targets, with a projected net profit of 31 million yuan in 2025 and 303 million yuan in 2026 [2][8].