证券代码：001313 证券简称：粤海饲料 公告编号：2025-040 广东粤海饲料集团股份有限公司 第四届监事会第一次会议决议公告 本公司及监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、监事会会议召开情况 （一）会议通知的时间及方式：广东粤海饲料集团股份有限公司（以下简称 "公司"）于 2025 年 5 月 30 日以邮件方式发出本次会议通知。 （二）会议召开的时间、地点及方式：2025 年 6 月 2 日，在公司 2 楼会议 室，以现场结合通讯表决的形式召开公司第四届监事会第一次会议。 （三）本次会议通知会议应到监事 5 名，实到监事 5 名，其中梁爱军女士、 彭亚兰女士、涂亮先生以通讯表决方式出席。 （五）本次会议的召开符合法律法规及《公司章程》的规定，会议决议合法、 有效。 （四）经半数以上监事推举，本次会议由梁爱军女士主持。 （一）公司第四届监事会第一次会议决议。 特此公告。 广东粤海饲料集团股份有限公司监事会 2025 年 6 月 4 日 二、监事会会议审议情况 （一）审议《关于选举公司第四届监事会主席的议案》 表决票数：同意 5 票、反对 0 票、 ...

一、董事会会议召开情况 证券代码：001313 证券简称：粤海饲料 公告编号：2025-039 广东粤海饲料集团股份有限公司 第四届董事会第一次会议决议公告 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。 （一）会议通知的时间及方式：广东粤海饲料集团股份有限公司（以下简称 "公司"）于 2025 年 5 月 30 日以邮件方式发出本次会议通知。 （二）会议召开的时间及方式：2025 年 6 月 2 日，在公司 2 楼会议室，以 现场结合通讯表决的形式召开公司第四届董事会第一次会议。 （三）本次会议通知会议应到董事 7 名，实到董事 7 名，其中董事徐雪梅女 士、独立董事张程女士、李学尧先生以通讯表决方式出席。 （四）经半数以上董事推举，本次会议由郑石轩先生主持。 （五）本次会议的召开符合法律法规及《公司章程》的规定，会议决议合法、 有效。 二、董事会会议审议情况 （一）审议《关于选举公司第四届董事会董事长的议案》 表决票数：同意 7 票、反对 0 票、弃权 0 票。 表决结果：本议案审议通过。 具体内容详见公司同日刊登于《证券时报》《证券日报》《中国证券报》《 ...

Core Viewpoint - Guangdong Yuehai Feed Group has launched the "Victory Summer Action" to enhance industry development and support aquaculture during the peak production season, aiming to cover over 10,000 farmers and achieve significant sales growth [2][3][6]. Group 1: Action Overview - The "Victory Summer Action" is a major marketing initiative following the earlier "Spring Battle Action," aimed at injecting energy into the industry during the summer peak [5][6]. - The action will run from June to October 2025, focusing on consolidating the achievements of the Spring Battle Action and seizing the golden period of aquaculture [17][18]. Group 2: Strategic Actions - The initiative includes six strategic actions to ensure growth and market presence: 1. Consolidate incremental achievements by enhancing channel cooperation and expanding product coverage [20][21]. 2. Deepen terminal services to address challenges such as high temperatures and disease outbreaks, providing technical support to farmers [23][24]. 3. Capture market share in key areas and species, particularly in freshwater fish, grouper, and shrimp feeds [25][26]. 4. Strive for market leadership in specific regions and species to solidify competitive advantages [27][28]. 5. Build a skilled service team through intensive training and practical experience [29][30]. 6. Enhance brand influence by promoting successful farming models and community initiatives [31]. Group 3: Performance Metrics - The company reported significant growth in sales during the first four months of the year, with high-end fish feed up 15%, small shrimp feed up 56%, and other products showing similar increases [34][35][36]. - The "Victory Summer Action" aims to conduct over 200 technical exchange meetings, reaching more than 10,000 farmers, and establish 500 demonstration ponds [39][40].

证券代码：001313 证券简称：粤海饲料 公告编号：2025-038 广东粤海饲料集团股份有限公司 2024 年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、本次股东大会无否决议案的情形。 2、本次股东大会不涉及变更前次股东大会决议的情形。 一、会议召开和出席情况 （一）会议召开情况 1、会议召开时间： （1）现场会议时间：2025 年 5 月 19 日 14:00。 （2）网络投票时间：2025 年 5 月 19 日（周一）。其中，通过深圳证券交 易所交易系统进行网络投票的时间为：2025 年 5 月 19 日的交易时间 9:15--9:25， 9:30--11:30 和 13:00--15:00；通过深圳证券交易所互联网投票系统投票的时间为： 2025 年 5 月 19 日 9:15--15:00。 2、会议召开地点：广东省湛江市霞山区机场路 22 号公司 2 楼会议室。 3、会议召开方式：现场投票与网络投票相结合的方式。 4、会议召集人和主持人： （1）会议召集人：公司董事会。 登记日 2025 年 5 月 12 ...

国浩律师（深圳）事务所 关于广东粤海饲料集团股份有限公司 2024 年年度股东大会的法律意见书 GLG/SZ/A3468/FY/2025-520 致：广东粤海饲料集团股份有限公司 根据《中华人民共和国公司法》（以下简称"《公司法》"）、《广东粤海 饲料集团股份有限公司章程》（以下简称"《公司章程》"）、《广东粤海饲料 集团股份有限公司股东大会议事规则》（以下简称"《股东大会议事规则》"） 等有关规定，国浩律师（深圳）事务所（以下简称"本所"）接受广东粤海饲料 集团股份有限公司（以下简称"公司"）委托，指派刘恬宁律师、张韵雯律师参 加公司2024年年度股东大会会议（以下简称"本次股东大会"或"本次会议"）， 就公司本次股东大会的召集与召开程序、出席会议人员资格、召集人资格、会议 表决程序和表决结果的合法性等有关问题出具本法律意见书。 为出具本法律意见书，本所及本所律师依照现行有效的中国法律、法规以及 相关规章、规范性文件的要求和规定，对公司提供的与前述事宜有关的法律文件 及其他文件、资料予以了核查、验证。同时，本所及本所律师还核查、验证了本 所及本所律师认为出具本法律意见书所需要核查、验证的其他法律文件及其他文 ...

Core Viewpoint - The company, Yuehai Feed, reported a significant decline in revenue and net profit for the fiscal year 2024, indicating financial challenges despite a slight increase in cash flow from operating activities [1][2]. Financial Performance Summary - **Revenue**: In 2024, the company achieved a revenue of 5.912 billion yuan, a decrease of 13.98% compared to 6.872 billion yuan in 2023 [2][3]. - **Net Profit**: The net profit attributable to shareholders was -85.392 million yuan in 2024, a decline of 307.55% from 41.143 million yuan in the previous year [2][3]. - **Net Profit Excluding Non-Recurring Items**: The net profit after excluding non-recurring items was -103.293 million yuan, down 539.35% from 23.511 million yuan in 2023 [2][3]. - **Operating Cash Flow**: The net cash flow from operating activities was 5.194 billion yuan, an increase of 8.47% from 4.788 billion yuan in 2023 [1][2]. Earnings Per Share and Return on Equity - **Earnings Per Share**: Basic and diluted earnings per share were both -0.12 yuan in 2024, a decrease of 300% from 0.06 yuan in 2023 [2][3]. - **Return on Equity**: The weighted average return on equity was -3.25% in 2024, down 4.74% from 1.49% in the previous year [2][3]. Asset and Equity Position - **Total Assets**: As of the end of 2024, total assets amounted to 4.790 billion yuan, a 3.33% increase from 4.635 billion yuan at the end of 2023 [2][3]. - **Shareholder Equity**: The equity attributable to shareholders was 2.577 billion yuan at the end of 2024, a decrease of 5.60% from 2.730 billion yuan in 2023 [2][3]. Recent Quarterly Performance - **Q1 2025 Revenue**: In the first quarter of 2025, the company reported a revenue of 933 million yuan, a year-on-year increase of 9.58% [3][4]. - **Q1 2025 Net Profit**: The net profit attributable to shareholders was -24.669 million yuan, an improvement from -56.160 million yuan in the same period last year [3][4]. - **Q1 2025 Operating Cash Flow**: The net cash flow from operating activities was -47.484 million yuan, slightly worse than -47.382 million yuan in Q1 2024 [3][4].

第一创业证券承销保荐有限责任公司 关于广东粤海饲料集团股份有限公司 首次公开发行股票并上市持续督导保荐总结报告书 经中国证券监督管理委员会《关于核准广东粤海饲料集团股份有限公司首次 公开发行股票的批复》（证监许可〔2022〕110 号）核准，并经深圳证券交易所同 意，广东粤海饲料集团股份有限公司（以下简称"公司"或"发行人"）向社会 公众公开发行人民币普通股（A 股）10,000.00 万股，每股发行价格为 5.38 元， 募集资金总额为 53,800.00 万元，扣除发行费用 5,792.05 万元（含增值税）后， 实际募集资金净额为 48,007.95 万元。上述募集资金已全部到位，天职国际会计 师事务所（特殊普通合伙）对募集资金到账情况进行了审验，并于 2022 年 2 月 9 日出具了《验资报告》（天职业字〔2022〕2619 号）。 第一创业证券承销保荐有限责任公司（以下简称"一创投行"或"保荐机构"） 作为粤海饲料首次公开发行股票并上市的保荐机构，于上市之日起对公司进行持 续督导工作，持续督导期为 2022 年 2 月 16 日至 2024 年 12 月 31 日。截至目前， 持续督导期已届满，一 ...

Core Insights - The Chinese feed industry has experienced significant fluctuations in investment and financing activities since 2015, with the highest financing amount reaching 3 billion yuan in 2022 and the most financing events occurring in 2024 with 7 instances [1][2]. Investment Scale - The investment scale in the feed industry is substantial, with the highest single financing amount recorded at 3 billion yuan in 2023, while the second-highest was 1.62 billion yuan in 2017 [2]. Development Stage - The feed industry is currently in a developmental phase, with financing amounts showing volatility. The largest single financing event in 2023 reached 3 billion yuan [2]. Financing Rounds - Financing rounds in the feed industry are primarily concentrated in angel rounds, A rounds, and strategic investments, with 14 angel rounds, 14 A rounds, and 10 strategic investment events recorded [5]. Regional Concentration - Investment activities in the feed industry are concentrated in Beijing, Guangdong, and Jiangsu, with Guangdong leading with 11 financing events, followed by Beijing and Jiangsu with 7 events each [6]. Investment Focus - The main focus of investments in the feed industry from 2021 to 2024 is on feed production, feed usage, and related construction [11]. Investor Composition - The primary investors in the feed industry are investment firms, with notable representatives including Zhongke Kexin and Jizhi Capital, while industrial investors include Guangfa Qianhe and Jinrui Biological [13]. Mergers and Acquisitions - The feed industry has seen horizontal mergers and acquisitions, with companies like Guangdong Feed focusing on acquiring to enhance product quality and output, while companies like Tangrenshen, Dabeinong, and New Hope are improving their supply chains through acquisitions [15][17].

Investment Rating - The report initiates coverage with a "Buy" rating for the company [5]. Core Views - The company reported a revenue of 5.912 billion yuan in 2024, a year-on-year decrease of 13.98%, and a net profit attributable to shareholders of -85 million yuan, indicating a loss compared to the previous year [1]. - In Q1 2025, the company achieved a revenue of 933 million yuan, reflecting a year-on-year increase of 9.58%, with a net profit of -25 million yuan, showing a significant reduction in losses [1]. - The company is expected to see a recovery in performance driven by improved market conditions in the aquaculture sector, which is anticipated to boost feed demand [3]. Summary by Sections Sales Performance - In 2024, the company faced a decline in feed sales volume to 787,100 tons, down 9.6% year-on-year due to a sluggish market and adverse weather conditions [2]. - The company has successfully launched new products, with certain feed types like tilapia feed and sea bass feed experiencing growth rates of 15%-40% [2]. - In Q1 2025, feed sales volume reached 117,400 tons, marking a year-on-year increase of 12.2% [2]. Financial Management - The company has strengthened its accounts receivable management, leading to a significant reduction in bad debt provisions, which decreased by 87.85% year-on-year in Q1 2025 [3]. - The report forecasts net profits for 2025-2027 to be 250 million, 330 million, and 430 million yuan respectively, with corresponding EPS of 0.4, 0.5, and 0.6 yuan [3]. Market Outlook - The report highlights that the recovery in aquaculture prices since early 2025 is expected to enhance the willingness of farmers to invest in seedlings, further driving feed demand [2]. - The company is actively pursuing growth strategies, including the development of new bases in Vietnam and Anhui, as well as mergers and acquisitions, which are expected to contribute to its long-term growth potential [3].

Sales Performance - In Q1 2025, the company achieved a feed product sales volume of 117,400 tons, representing a year-on-year growth of 12.2% [1] - Revenue for Q1 2025 reached 933 million yuan, an increase of 9.58% compared to the previous year [1][2] Growth Drivers - The "Spring Action" initiative significantly boosted the activity of business personnel, leading to a substantial increase in market visits and customer acquisition [2] - The "Yuehai Wealth Creation" exchange meetings and promotional policies enhanced brand awareness and product sales among farmers [2] Cost Management - The company implemented precise nutritional design, raw material substitution, and process upgrades to mitigate the impact of fluctuating prices of fish meal and soybean meal [2] - In 2025, the company aims to achieve a 10% increase in growth rate, a 10% reduction in feed conversion ratio, and a 50% decrease in losses through these measures [2] Product Development - The company continues to focus on the research and production of special aquatic feed, launching new products in 2024 that received positive market feedback [3] - The diverse range of aquatic feed products covers different growth stages of aquatic animals, establishing a solid foundation for future sales targets [3] Financial Health - As of the end of Q1 2025, contract liabilities amounted to 295 million yuan, a year-on-year increase of 39.81% [3] - Accounts receivable decreased to 1.221 billion yuan, down 4.14% from the previous year, indicating improved collection efficiency [4] Research and Development - The company has established multiple research centers and has received several provincial and national awards for its technological innovations and successful project collaborations [4] - Significant advancements in product quality and performance have been achieved through extensive research and development efforts [4] E-commerce Strategy - In 2024, the food segment generated over 110 million yuan in sales, with Q1 2025 monthly sales exceeding 20 million yuan [5] - The company is expanding its e-commerce presence through partnerships with popular online platforms and influencers to enhance brand visibility and sales [5][6] Cost Efficiency - The sales expense ratio decreased from 11.49% in Q1 2024 to 10.22% in Q1 2025, reflecting ongoing management improvements and cost control measures [6]