General Provisions - The purpose of the work guidelines is to improve the corporate governance structure of the company in accordance with modern enterprise systems and relevant laws [1] - The guidelines apply to the general manager, deputy general managers, financial directors, and other senior management personnel as defined in the company's articles of association [2] Appointment and Dismissal Procedures - The company has one general manager, appointed or dismissed by the board of directors based on the chairman's nomination and the board's nomination committee review [3] - Several deputy general managers (including the financial director) are appointed by the general manager, subject to board approval [4] - Directors can concurrently serve as general managers or other senior management positions, but such directors must not exceed half of the total number of directors [4] Powers and Responsibilities of the General Manager - The general manager is responsible to the board of directors and has the authority to manage the company's operations, implement board resolutions, and report on work progress [6] - The general manager is tasked with organizing the annual business plan and investment proposals, as well as establishing internal management structures [6] - The general manager must ensure the authenticity of reports regarding major contracts, fund utilization, and profit and loss situations [8] General Manager's Office Meeting System - The company has a general manager's office meeting to discuss and make decisions on significant matters, including business plans and major administrative issues [12] - The general manager convenes and presides over these meetings, with participation from deputy general managers, financial directors, and other senior management [13] Reporting System - The general manager is required to report regularly or as needed to the board of directors, ensuring the accuracy of the information provided [17] - The audit department's reports must be submitted to both the general manager and the board's audit committee [19] Supplementary Provisions - In cases of resignation, dismissal, or expiration of term for the general manager, deputy general managers, or financial directors, the company has the right to conduct exit audits [21] - Any matters not covered by these guidelines will be governed by relevant laws, regulations, and the company's articles of association [22]

Group 1 - The company announced that for the first half of 2025, it achieved operating revenue of 1,449,837,585.39 yuan, representing a year-on-year growth of 22.37% [1] - The net profit attributable to shareholders of the listed company was 265,442,984.95 yuan, reflecting a year-on-year increase of 34.70% [1]

Company Overview - Guangdong Yuehai Feed Group Co., Ltd. is a national innovative pilot enterprise primarily engaged in the R&D, production, and sales of aquatic feed, established in 1994. It is one of China's leading quality aquatic feed companies, focusing on special aquatic feed, which accounts for approximately 70% of its total feed sales [2][3]. - The company has over 30 subsidiaries, with 70% of its revenue generated from the South China region [2]. Financial Performance - In the first half of 2025, the company achieved feed sales of 330,000 tons, a year-on-year increase of 11.40%. Revenue reached 2.668 billion yuan, up 12.90%, with a net profit of 3.565 million yuan, reflecting a significant growth of 107.43% [3][4]. - Despite challenges such as reduced fish stocks and adverse weather, the company managed to achieve growth due to strong product quality and operational efficiency [3]. Product Performance - Specific feed types showed varied performance: shrimp and crab feed grew by approximately 15%, marine fish feed by over 12%, while common freshwater feed saw a growth of about 6%. However, certain types like sea bass and golden pomfret feed experienced a decline of 8%-17% [4]. - The company plans to launch new products, including East Star grouper feed and soft-shelled turtle feed, which have received positive market feedback due to their superior nutritional formulations and production quality [11][12]. Market Outlook - The second half of 2025 is expected to see improved performance due to a favorable market for aquatic products, with anticipated price increases for shrimp, soft-shelled turtles, and tilapia, driven by seasonal demand and upcoming holidays [8]. - The overall trend for the aquatic feed industry is positive, with expectations for continued growth in sales and revenue [8]. Risk Management and Procurement Strategy - To enhance raw material procurement and risk management, the company has implemented several strategies, including: - Strengthening partnerships with key suppliers to ensure quality and favorable pricing [6][7]. - Utilizing digital technologies to improve supply chain transparency and efficiency [7]. - Continuously experimenting with new raw materials to diversify supply sources and reduce procurement costs [7] [8]. Accounts Receivable Management - The company has improved its credit impairment situation, but accounts receivable remain high due to the long cycles in special aquatic feed production. Measures are being taken to enhance management and reduce risks associated with receivables [13][14]. - The company aims to maintain its leading position in the industry by providing substantial support to key clients while tightening credit for less reliable customers [13][14]. International Expansion - The company is in the process of establishing a factory in Vietnam, which is expected to produce fish and shrimp feed. Future international expansion plans include potential projects in Ecuador, Bangladesh, and Saudi Arabia [15].

Group 1 - The core viewpoint of the article is that China Galaxy has given a recommendation rating for Yuehai Feed (001313.SZ) based on its strong performance and strategic initiatives [1] Group 2 - In Q2, the company's revenue growth accelerated, although the gross margin experienced a slight year-on-year decline [1] - In H1, the company's feed sales increased by 11% year-on-year, focusing on high-quality customers and the high-end feed market [1] - The company announced a 2025 employee stock ownership plan to promote the achievement of its medium to long-term strategic goals [1]

Group 1 - The company's total revenue for the first half of 2025 is 2.668 billion yuan, with a net profit attributable to shareholders of 3.565 million yuan, ranking 12th among disclosed peers [1] - The company's cash flow from operating activities is -289 million yuan, ranking 12th among disclosed peers, and decreased by 142 million yuan compared to the same period last year [1] Group 2 - The company's latest debt-to-asset ratio is 45.31%, an increase of 2.00 percentage points from the previous quarter [3] - The company's latest gross profit margin is 9.64%, ranking 9th among disclosed peers, and decreased by 1.29 percentage points compared to the same period last year [3] - The company's latest return on equity (ROE) is 0.14%, ranking 12th among disclosed peers [3] - The company's diluted earnings per share (EPS) is 0.01 yuan, ranking 12th among disclosed peers [3] - The company's latest total asset turnover ratio is 0.56 times, and the inventory turnover ratio is 3.64 times [3]

Core Viewpoint - The company reported significant growth in both sales and profits for the first half of the year, indicating a strong performance in the feed industry [1] Financial Performance - The company's feed sales reached 330,000 tons, representing a year-on-year increase of 11.40% [1] - The operating revenue amounted to 2.668 billion yuan, which is a year-on-year increase of 12.90% [1] - The net profit attributable to shareholders was 3.565 million yuan, showing a remarkable year-on-year growth of 107.43% [1] Dividend Distribution - The company declared a cash dividend of 1.13 yuan for every 10 shares to all shareholders [1]

证券代码：001313 证券简称：粤海饲料 公告编号：2025-072 广东粤海饲料集团股份有限公司 第四届监事会第五次会议决议公告 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。 与会监事认为：董事会编制和审核公司《2025年半年度报告》的程序符合法律、 行政法规和中国证监会的规定，报告内容真实、准确、完整地反映了公司的实际情 况，不存在任何虚假记载、误导性陈述或者重大遗漏。 一、监事会会议召开情况 表决票数：同意5票、反对0票、弃权0票。 （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8月18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8月28日，在公司二楼会议室， 以现场结合通讯表决的方式召开公司第四届监事会第五次会议。 （三）本次会议通知会议应到监事5名，实到监事5名。其中监事涂亮先生以通 讯表决的方式参会。 （四）本次会议由监事会主席梁爱军女士主持，董事会秘书冯明珍女士列席了 本次会议。 （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、监事会 ...

证券代码：001313 证券简称：粤海饲料 公告编号：2025-065 一、董事会会议召开情况 （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8月18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8月28日，在公司二楼会议室，以 现场结合通讯表决的方式召开公司第四届董事会第五次会议。 （三）本次会议通知会议应到董事7名，实到董事7名，其中独立董事张程女士、 李学尧先生以通讯表决的方式参会。 （四）本次会议由董事长郑石轩先生主持，公司全体监事及高级管理人员列席 会议。 （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《2025年半年度报告（全文及摘要）》 广东粤海饲料集团股份有限公司 第四届董事会第五次会议决议公告 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。 本议案已经董事会审计委员会审议通过。 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巨潮资讯网（www.cninfo. ...

证券代码：001313 证券简称：粤海饲料 公告编号：2025-070 广东粤海饲料集团股份有限公司 关于 2025 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、完整，没有虚假 记载、误导性陈述或重大遗漏。 广东粤海饲料集团股份有限公司（以下简称"公司"）于 2025 年 8 月 28 日召 开第四届董事会第五次会议和第四届监事会第五次会议，审议通过了《关于 2025 年半年度利润分配预案的议案》，该预案尚需提交公司 2025 年第二次临时股东 大会审议。现将有关事项公告如下： 一、2025 年半年度利润分配预案基本情况 （一）本次利润分配预案的基本内容 （一）董事会会议审议情况 1、本次利润分配预案为 2025 年半年度利润分配。 2、根据公司 2025 年半年度财务报告，报告期公司实现归属于上市公司股东 的净利润为 3,564,974.70 元，加上年初未分配利润 1,214,147,301.16 元，期末合 并报表未分配利润为 1,217,712,275.86 元，母公司未分配利润为 530,799,503.97 元。根据合并报表、母公司报表未分配利润孰低原则，实际可 ...

广东粤海饲料集团股份有限公司 公 司 章 程 二○二五年八月 | 第一章 | 总则 | | 1 | | --- | --- | --- | --- | | 第二章 | | 经营宗旨和范围 | 2 | | 第三章 | 股份 | | 2 | | 第一节 | | 股份发行 | 2 | | 第二节 | | 股份增减和回购 | 4 | | 第三节 | | 股份转让 | 5 | | 第四章 | | 股东和股东大会 | 5 | | 第一节 | | 股东 | 5 | | 第二节 | | 股东大会的一般规定 | 8 | | 第三节 | | 股东大会的召集 | 10 | | 第四节 | | 股东大会的提案与通知 | 11 | | 第五节 | | 股东大会的召开 | 13 | | 第六节 | | 股东大会的表决和决议 | 15 | | 第五章 | 董事会 | | 19 | | 第一节 | | 董事 | 19 | | 第二节 | | 董事会 | 21 | | 第三节 | | 董事会专门委员会 | 26 | | 第六章 | | 总经理及其他高级管理人员 | 28 | | 第七章 | 监事会 | | 29 | | 第一节 | | 监事 ...