Group 1 - The company has made progress in the acquisition of the Tian Shi project, having obtained the initial drafts of audit, evaluation, and legal due diligence, and is currently in negotiations with relevant parties regarding equity cooperation details [2] - The company expects to have projects ready for production in the second half of 2025, including a 100,000-ton aquatic feed project in Anhui, which successfully began trial production in August [2] - The first phase of the Vietnam Yuehai factory, with an annual production capacity of 100,000 tons of high-end aquatic feed, is scheduled to be completed and put into operation in the third quarter [2] Group 2 - After the projects are operational, the company plans to scientifically schedule capacity release based on regional market demand, channel layout, and customer feedback to ensure product capacity aligns with market needs [2]

Group 1 - The company has made progress in its acquisition efforts, having obtained the initial drafts of audit, evaluation, and legal due diligence for the Tian Shi project, and is actively negotiating with relevant parties regarding equity cooperation details [1] - The company expects to produce 100,000 tons of aquatic feed in Anhui by the second half of 2025, with trial production successfully completed in August [1] - The first phase of the Vietnam Yuehai factory, which will also produce 100,000 tons of high-end aquatic feed annually, is scheduled to be completed and operational in the third quarter [1] Group 2 - The company plans to strategically release production capacity based on regional market demand, channel layout, and customer feedback to ensure alignment between product capacity and market needs [1]

Group 1 - A-share companies have announced over 800 mid-term cash dividend plans, setting a historical record, with total cash dividends exceeding 639 billion yuan and a cash dividend ratio of 21.36% of total net profits [1] - The banking sector leads in dividend scale, with an expected mid-term cash dividend of 237.54 billion yuan in 2025, followed by industries such as oil and petrochemicals, telecommunications, non-bank financials, coal, and transportation [1] Group 2 - Major companies like China Mobile and Industrial and Commercial Bank of China have cash dividends exceeding 50 billion yuan, while over 20 companies, including Chang'an Automobile and Hengli Petrochemical, are initiating mid-term dividends for the first time [3] - In terms of cash dividend ratios, companies like Shuoshi Biology and Yisheng Shares have exceptionally high ratios, with Shuoshi Biology proposing a cash dividend of 34 yuan per 10 shares, resulting in a cash dividend ratio of 7142.28% [3] - Institutional investors show a clear preference for high dividend yields, with Dongfang Yuhong leading at a yield of 7.87%, and several other companies also exceeding 5% [3][4] Group 3 - Among stocks with dividend yields over 2%, six companies, including Bingchuan Network and Jinneng Technology, reported net profit growth exceeding 50% in the first half of the year [4] - Bingchuan Network achieved a net profit of 336 million yuan, marking a turnaround, with a mid-term dividend yield of 2.3% [4]

Core Viewpoint - Guangdong Yuehai Feed Group Co., Ltd. has announced a profit distribution plan for the first half of 2025, proposing a cash dividend of 1.13 yuan per 10 shares, totaling 79.1 million yuan, subject to approval at the upcoming shareholder meeting [1][2][3] Summary by Sections Profit Distribution Plan - The company reported a net profit of 3,564,974.70 yuan for the first half of 2025, with an undistributed profit at the beginning of the year of 1,214,147,301.16 yuan, resulting in a total undistributed profit of 1,217,712,275.86 yuan at the end of the period. The actual distributable profit for shareholders is 530,799,503.97 yuan, based on the lower of the consolidated and parent company undistributed profits [1] Cash Dividend Details - The proposed cash dividend is 1.13 yuan per 10 shares (tax included), amounting to a total cash distribution of 79,100,000.00 yuan (tax included). The company will not increase capital through reserves or issue bonus shares [2] Justification for Cash Dividend - The profit distribution plan considers external environment, funding needs for the company's development, profitability, and reasonable returns for investors. It complies with relevant regulations and the company's profit distribution policy for the next three years (2025-2027) [2] Review Procedures - The profit distribution proposal was approved during the fourth board meeting and the fourth supervisory board meeting held on August 28, 2025. Both boards agreed that the plan aligns with the company's actual situation and does not harm the interests of the company or investors [3]

Core Points - The establishment of the Remuneration and Assessment Committee aims to enhance the governance structure of the company and improve the assessment and remuneration management system for directors and senior management [2][3] - The committee is responsible for researching assessment standards, conducting evaluations, proposing remuneration policies, and supervising the implementation of the remuneration system [2][3][4] Composition - The committee consists of three directors, with a majority being independent directors [3] - The committee is nominated by the chairman, more than half of the independent directors, or one-third of all directors, and elected by the board [3] - The term of the committee aligns with that of the board, and any member who ceases to be a director automatically loses their committee position [3] Responsibilities and Authority - The committee is tasked with formulating assessment standards for directors and senior management, reviewing remuneration policies, and making recommendations on various matters including remuneration and incentive plans [4][5] - If the board does not fully adopt the committee's recommendations, the reasons must be documented and disclosed [4] - The committee can hire external advisors for professional opinions, with costs covered by the company [4][5] Decision-Making Procedures - The board office is responsible for preparing necessary materials for the committee's decision-making [5][6] - The assessment process includes self-evaluations by directors and senior management, followed by performance evaluations conducted by the committee [6][7] Meeting Rules - The committee must hold at least one meeting annually, with special provisions for urgent matters [8][9] - A quorum requires the presence of at least two-thirds of the committee members, and decisions are made by majority vote [8][9] - Meeting records must be kept for ten years, and all attendees are bound by confidentiality [8][9] Miscellaneous - Any matters not covered by these rules will follow relevant laws and the company's articles of association [9] - The board holds the interpretation rights of these rules, which take effect upon board approval [9]

General Principles - The purpose of the external guarantee management system is to standardize the external guarantee practices of the company, effectively control guarantee risks, and protect financial security and investors' rights [2][3] - External guarantees refer to the company providing guarantees, pledges, or other forms of security for third parties [2] Conditions for Providing External Guarantees - The company can provide guarantees only if the guarantee object meets specific credit conditions, including being a legally established enterprise with good credit and repayment ability [7][8] - The company must conduct a thorough analysis of the credit status of the guarantee object before deciding to provide a guarantee [8][9] Approval Process for External Guarantees - All external guarantees must be approved by the board of directors or the shareholders' meeting [11] - Guarantees exceeding certain thresholds, such as 10% of the company's latest audited net assets, require additional approval from the shareholders' meeting [13][14] Execution and Risk Management - The chairman or authorized personnel must sign guarantee contracts based on board or shareholder resolutions [17] - The finance department is responsible for managing guarantee risks and ensuring timely repayment by the guarantee object [20][21] Information Disclosure - Any department involved in external guarantees must report relevant information to the board secretary [23] - The company must disclose information regarding guarantees if the guarantee object fails to meet repayment obligations or faces bankruptcy [24][25] Responsibilities of Personnel - Directors and senior management who violate the guarantee procedures may face accountability [26][27] - Individuals who neglect their duties leading to company losses may be subject to penalties [28] Miscellaneous - The system will be effective upon approval by the shareholders' meeting and will adhere to relevant laws and regulations [30][31]

Core Points - The company establishes an external investment management system to enhance investment management, mitigate risks, and protect the rights of shareholders [2][3] - The external investment should comply with national laws and regulations, align with the company's strategic development, and ensure clear property rights [2][3] - The system applies to the company and its subsidiaries, requiring prior approval from relevant decision-making bodies before any external investment [2][3] Chapter Summaries Chapter 1: General Principles - The purpose of the external investment management system is to regulate investment behavior and improve investment efficiency [2] - External investments must be clear in property rights and aim for value preservation and appreciation [2] Chapter 2: Organizational Management of External Investments - The company's shareholders' meeting and board of directors serve as decision-making bodies for external investments [3] - The board's strategic committee oversees investment management and provides recommendations [3] - The general manager is responsible for implementing external investments and reporting progress to the board [3] Chapter 3: Approval Authority for External Investments - External investments exceeding certain thresholds require board and shareholder approval [5][6] - The chairman can approve investments below 10% of the latest audited net assets [6] Chapter 4: Implementation, Management, and Supervision of External Investments - The investment process includes project proposal, preliminary review, and feasibility study [7] - Post-investment management is crucial for tracking project progress and financial performance [8] Chapter 5: Disposal of External Investments - The company can transfer or recover investments under specific circumstances, such as project completion or market changes [9] Chapter 6: Information Disclosure of External Investments - The company must adhere to disclosure obligations as per relevant regulations [9] Chapter 7: Supplementary Provisions - The rules are subject to national laws and regulations, and the board is responsible for their formulation and modification [10]

Core Viewpoint - The company has established a fundraising management system to regulate the use and management of raised funds, ensuring transparency and protecting investor interests [2][3]. Group 1: Fundraising Management Principles - The company defines fundraising as funds raised through stock issuance for specific purposes, excluding funds for equity incentive plans [2]. - The management system serves as a basic guideline for the use and management of raised funds, ensuring compliance by subsidiaries involved in fundraising projects [3]. - The company must ensure that raised funds are used only for publicly disclosed projects, with any changes requiring shareholder approval and proper disclosure [3][4]. Group 2: Fund Storage and Supervision - Upon receiving funds, the company must promptly complete verification procedures and store the funds in a designated account [4]. - A specialized account management system is implemented to enhance oversight of fund usage [4][5]. - The company must establish a tripartite supervision agreement with the sponsoring institution and the bank holding the funds, detailing the management and withdrawal conditions [5][6]. Group 3: Fund Usage Regulations - Funds must be used strictly according to the investment plan disclosed in the issuance application, and any significant deviations must be announced [6][12]. - The company is prohibited from using raised funds for high-risk investments or for providing financial assistance to others [12][13]. - Any temporary use of idle funds for cash management must be disclosed, including the reasons for idleness and the measures taken to ensure project continuity [8][9]. Group 4: Handling of Surplus Funds - Surplus funds should be used for ongoing or new projects, with a clear plan submitted for approval [10][11]. - The company must disclose the necessity and rationale for using surplus funds for cash management or temporary liquidity support [10][11]. - If surplus funds are to be permanently reallocated, the company must follow the appropriate approval and disclosure procedures [17][18]. Group 5: Project Changes and Reporting - Any changes to fundraising projects must be approved by the board and disclosed, including reasons and implications [13][14]. - The company must continuously monitor project progress and report any significant deviations from the investment plan [18][19]. - Annual reports must include a detailed account of the management and usage of raised funds, along with any necessary adjustments to the investment plan [18][19].

Core Points - The document outlines the management system for subsidiaries of Hanhigh Group Co., Ltd, aiming to enhance control mechanisms and improve operational efficiency [2][3][4] Group 1: General Provisions - The management system is established to strengthen the company's control over its subsidiaries and protect investor interests [2] - Subsidiaries are defined as independent legal entities established by the company, including wholly-owned and controlled subsidiaries [2] - The system aims to improve risk control and enhance the company's overall operational efficiency and risk resistance [2][3] Group 2: Operational Norms - Subsidiaries must establish a sound corporate governance structure and internal management system in accordance with laws and regulations [4][6] - Major decisions such as asset restructuring, mergers, and financing must be approved by the company's board of directors [4][8] - Subsidiaries are required to provide timely and accurate information regarding their operational performance and financial status to the company's board [4][9] Group 3: Personnel Management - The company appoints directors, supervisors, and senior management for subsidiaries, ensuring compliance with legal and regulatory obligations [6][12] - Appointed personnel must adhere to the company's operational strategies and risk management policies [7][12] - Subsidiaries must implement the human resources management policies set by the group's HR department [13] Group 4: Financial Management - The company exercises vertical management over the financial accounting of subsidiaries, appointing financial management personnel as needed [9][14] - Subsidiaries must regularly report their financial status and are subject to internal audits [10][22] - Financial policies and estimates must comply with national accounting standards and the company's unified accounting policies [10][20] Group 5: Audit Supervision - An internal audit department is established to oversee the subsidiaries, with the authority to engage external auditors if necessary [12][27] - Subsidiaries are required to cooperate with internal audits and provide necessary documentation [12][29] - Any refusal to comply with audit requests is prohibited, ensuring accountability within the subsidiaries [12][30] Group 6: Supplementary Provisions - Any matters not covered by the system will be governed by relevant laws and the company's articles of association [15][31] - The board of directors is responsible for the formulation, modification, and interpretation of this management system [15][32]

Core Viewpoint - The internal reporting system for significant information at Hanhigh Group Co., Ltd. aims to ensure the timely, accurate, and complete disclosure of information that may significantly impact the company's stock and investor decisions, in compliance with relevant laws and regulations [2][3]. Group 1: General Provisions - The internal reporting system is established to facilitate the rapid transmission and effective management of significant information within the company [2]. - The system applies to directors, senior management, and all departments, as well as wholly-owned, controlled, and affiliated subsidiaries [2][3]. Group 2: Scope of Significant Information - Significant information includes matters that may affect the company's stock price, such as board resolutions, major operational changes, significant transactions, and risk matters [3][6]. - Specific reporting thresholds are set, including transactions exceeding 10% of audited annual revenue or net profit, and absolute amounts over 1 million [3][6]. Group 3: Reporting Procedures and Management - Obligated reporters must notify the board secretary upon awareness of significant events, including during negotiations or when submitting matters for board review [6][8]. - Reports must be made in various forms, including written, phone, or electronic communication, and must be submitted within 24 hours of knowledge of significant information [8][9]. Group 4: Responsibilities and Confidentiality - The company emphasizes the responsibility of all departments and subsidiaries to report significant information accurately and timely, with a focus on maintaining confidentiality before public disclosure [10][13]. - The board secretary is responsible for analyzing reports and ensuring compliance with disclosure obligations [9][10].