Financial Performance - The company's operating revenue for 2024 was ¥5,911,740,005.99, a decrease of 13.98% compared to ¥6,872,366,227.32 in 2023 [6]. - The net profit attributable to shareholders for 2024 was -¥85,392,026.49, representing a decline of 307.55% from ¥41,143,558.44 in 2023 [6]. - The basic earnings per share for 2024 was -¥0.12, a decrease of 300.00% compared to ¥0.06 in 2023 [6]. - The company's net assets attributable to shareholders decreased by 5.60% to ¥2,576,819,825.21 at the end of 2024 from ¥2,729,715,295.68 at the end of 2023 [6]. - The total sales amount from the top five customers was ¥242,915,103.08, accounting for 4.11% of the annual total sales [67]. - The sales revenue from feed products was 5.67 billion yuan, accounting for 95.97% of total revenue, down 13.93% year-on-year [59]. - The company reported a net cash flow from operating activities of 519.40 million yuan, an increase of 8.47% year-on-year [55]. - The company achieved a net increase in cash and cash equivalents of ¥128,596,134.98, a 292.50% increase compared to ¥32,762,941.34 in 2023 [78]. Shareholder Information - The company reported a total of 700 million shares, with a proposed cash dividend of 0 per 10 shares, indicating no cash distribution or stock bonus for shareholders [4]. - The company plans to distribute a cash dividend of 0.50 CNY per 10 shares, totaling 34,473,931.60 CNY for the year 2023 [170]. - The total number of shares for the dividend distribution is based on 689,474,932 shares after excluding repurchased shares [170]. - The company will not distribute cash dividends or implement any other forms of distribution for the fiscal year 2024 due to reported losses [174]. - The company has implemented a share repurchase program amounting to 67,666,788.16 CNY, which is considered equivalent to cash dividends for the year 2024 [175]. Business Operations - The company has not made any changes to its main business since its listing, maintaining its focus on feed production [16]. - The company operates under the stock code 001313 on the Shenzhen Stock Exchange, reinforcing its presence in the market [13]. - The company has established over 30 subsidiaries across major aquaculture regions in China and Vietnam, with 70% of its revenue generated from the South China region [30]. - The company has implemented a "three highs and three lows" technical strategy, which emphasizes high quality, health, and growth while reducing protein, waste, and feed conversion ratio, leading to significant industry advancements [30]. - The company has launched an online store on five major e-commerce platforms, including Douyin and Taobao, to expand its sales channels and promote its premium aquatic products [52]. Market Trends and Industry Insights - The total output value of the national feed industry in 2024 was ¥12,620.8 billion, a decrease of 10.0% compared to the previous year [27]. - The total production of industrial feed in 2024 was 31,503.1 million tons, down 2.1% from the previous year [27]. - The production of aquatic feed in 2024 was 2,262.0 million tons, representing a decline of 3.5% compared to the previous year [27]. - The company is a leading player in the aquatic feed industry, focusing on special aquatic feed, with approximately 70% of its sales coming from this segment [30]. - The company anticipates continued growth in the aquaculture feed industry, driven by government support for high-quality development and modernization of aquaculture practices [103]. Research and Development - The company has a stable R&D team with 9 PhDs and 53 Masters, enhancing its technical capabilities in aquatic animal nutrition and feed technology [43]. - The company is developing a new shrimp breeding system aimed at improving growth and disease resistance, which is currently in progress [72]. - The company is working on breeding high-quality South American white shrimp with superior economic traits, which is ongoing [72]. - The company aims to improve the quality of aquaculture through innovative feed additives and premixes, enhancing its market competitiveness [73]. - R&D investment dropped significantly by 47.60% from ¥131,690,821.58 in 2023 to ¥69,011,393.15 in 2024, representing 1.17% of operating revenue [76]. Corporate Governance - The company maintains a strict governance structure in compliance with relevant laws and regulations, ensuring clear responsibilities among shareholders, the board, and management [126]. - The company operates independently from its controlling shareholders in terms of assets, personnel, finance, and business, ensuring a complete operational system [127]. - The company has established an independent financial department with dedicated personnel and a separate accounting system, ensuring no interference from controlling shareholders [130]. - The company has a structured approach to governance, adhering to the rules set forth in its Articles of Association and Company Law [153]. - The company has established a market value management system to enhance investment value and protect investor interests, approved on February 10, 2025 [123]. Social Responsibility and Sustainability - The company is committed to sustainable development, aligning its mission with the growing demand for healthy and safe aquatic products [34]. - The company has donated a total of 330,200 CNY in cash and materials for social welfare and poverty alleviation in 2023, fulfilling its social responsibility [198]. - Since 2015, the company has established over 50 "Yuehai Villages" across multiple provinces, contributing to rural revitalization and helping farmers increase their income [199]. - The company emphasizes sustainable development and social responsibility, balancing shareholder interests with environmental protection [192]. - The company employs a comprehensive approach to manage waste gases, dust, and noise, ensuring compliance with national and local environmental standards [188][189][190].

广东粤海饲料集团股份有限公司 公 司 章 程 二○二五年四月 | 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 | 6 | | 第一节 | 股东 | 6 | | 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 | 12 | | 第五节 | 股东大会的召开 | 13 | | 第六节 | 股东大会的表决和决议 | 16 | | 第五章 | 董事会 | 19 | | 第一节 | 董事 | 19 | | 第二节 | 董事会 | 22 | | 第三节 | 董事会专门委员会 | 27 | | 第六章 | 总经理及其他高级管理人员 | 28 | | 第七章 | 监事会 | 30 | | 第一节 | 监事 | 30 | | 第二节 | 监事会 | 30 | | 第八章 | 财务会计制度、利润分配和 ...

（一）个人工作履历、专业背景以及兼职情况 本人张程，1972 年出生，中国国籍，无境外永久居留权，硕士研究生学历， 注册会计师、高级会计师。2021 年至今，任鹏盛会计师事务所（特殊普通合伙） 广西分所所长；2023 年至今，任广西注册税务师协会副会长；2018 年至今，任 广西区科技厅财务专家；2021 年 7 月至今，任广西融桂怡亚通供应链有限公司 外部董事；2022 年 5 月至今，担任公司独立董事。 （二）是否存在影响独立性的情况说明 广东粤海饲料集团股份有限公司 2024 年度独立董事述职报告 （张程） 本人作为广东粤海饲料集团股份有限公司(以下简称"公司")的第三届董事 会独立董事，能够严格按照《公司法》《证券法》《上市公司独立董事管理办法》 《深圳证券交易所上市公司自律监管指引第 1 号--主板上市公司规范运作》及《公 司章程》《公司独立董事工作制度》的要求，秉持独立、审慎、高效的原则行使 职权。本人密切关注公司经营状况，积极出席相关会议，认真审议董事会及专门 委员会各项议案，并就重大事项发表了客观公正的独立见解，有效维护了公司及 全体股东，特别是社会公众股东的合法权益。现将我 2024 年度的 ...

Financial Performance - The company's operating revenue for Q1 2025 was ¥932,640,187.45, representing a 9.58% increase compared to ¥851,078,299.61 in the same period last year[4] - The net loss attributable to shareholders decreased by 56.07% to ¥24,668,647.25 from ¥56,160,071.15 year-on-year[4] - The net profit for the current period was a loss of ¥25,352,081.18, an improvement from a loss of ¥57,424,121.53 in the previous period, indicating a reduction in losses by 56%[18] - Total operating costs amounted to ¥949,300,477.22, up from ¥850,708,454.32, reflecting a rise of 11.6%[17] - The total comprehensive income attributable to minority shareholders was -683,433.93 yuan, compared to -1,264,050.38 yuan in the previous period, indicating a significant reduction in losses[19] - Basic and diluted earnings per share were both -0.04 yuan, an improvement from -0.08 yuan in the previous period[19] Cash Flow - The net cash flow from operating activities was -¥474,840,058.09, showing a slight increase of -0.22% compared to -¥473,820,355.99 in the previous year[4] - Cash inflow from operating activities totaled 973,496,587.65 yuan, up from 894,663,994.98 yuan, reflecting a growth of approximately 8.5%[19] - Cash outflow from operating activities increased to 1,448,336,645.74 yuan from 1,368,484,350.97 yuan, resulting in a net cash flow from operating activities of -474,840,058.09 yuan, slightly worse than -473,820,355.99 yuan in the previous period[19] - Cash flow from investing activities showed a net outflow of -38,051,453.43 yuan, an improvement from -121,202,557.47 yuan in the previous period[20] - Cash inflow from financing activities was 320,454,110.00 yuan, down from 588,999,148.04 yuan, indicating a decrease of approximately 45.7%[20] - The net cash flow from financing activities was 123,653,656.89 yuan, compared to 384,749,912.50 yuan in the previous period, reflecting a significant decline[20] - The ending balance of cash and cash equivalents was 669,055,711.88 yuan, down from 719,629,802.06 yuan, indicating a decrease of about 7%[20] Assets and Liabilities - The total assets at the end of the reporting period were ¥4,496,039,978.22, a decrease of 6.13% from ¥4,789,714,531.30 at the end of the previous year[4] - Total liabilities decreased to ¥1,947,404,904.11 from ¥2,217,009,247.51, a reduction of 12.2%[15] - The total equity attributable to shareholders decreased to ¥2,553,403,965.95 from ¥2,576,819,825.21, a decline of 0.9%[15] - The current liabilities totaled ¥1,701,555,658.92, down from ¥1,967,456,571.22, a decrease of 13.5%[15] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 18,068[10] - The largest shareholder, Zhanjiang Prawn Feed Co., Ltd., holds 37.80% of the shares, with 97,840,000 shares pledged[10] - The top ten shareholders include 湛江市对虾饲料有限公司 with 264,612,000 shares, representing a significant portion of the company's equity[11] Investments and Expenses - The investment income increased by 51.05%, attributed to higher gains from the termination of financial assets measured at amortized cost[8] - The company reported an investment loss of ¥939,797.36, an improvement from a loss of ¥1,919,976.75 in the previous period[17] - Research and development expenses increased to ¥12,788,229.09 from ¥10,493,246.39, reflecting a growth of 21.9%[17] - The financial expenses decreased by 45.88%, mainly due to a reduction in interest expenses[8] Other Information - The company's cash and cash equivalents decreased by 33.13% compared to the end of the previous year, primarily due to the payment of notes payable[7] - The contract liabilities increased by 77.73%, indicating a rise in advance payments received from customers[8] - Accounts receivable increased from ¥1,148,353,516.16 to ¥1,221,088,678.46, showing a growth of about 6.3%[13] - Inventory decreased from ¥688,796,138.93 to ¥659,678,229.24, reflecting a reduction of approximately 4.2%[13] - Total current assets decreased from ¥3,244,228,002.62 to ¥2,927,856,063.11, indicating a decline of around 9.8%[13] - Long-term receivables decreased from ¥133,898,419.68 to ¥125,950,515.32, a decrease of about 5.9%[13] - Fixed assets decreased from ¥853,810,058.98 to ¥833,824,651.97, representing a decline of approximately 2.3%[13] - The company has not reported any new product developments or technological advancements in the recent conference call[12] - There are no updates on market expansion or mergers and acquisitions mentioned in the call[12] - The company did not provide specific future guidance or performance outlook during the earnings call[12] - The company did not report any cash received from insurance contracts or investment income during the period[19] - The company’s first quarter report was not audited, which may affect the reliability of the financial data presented[21]

证券代码：001313 证券简称：粤海饲料 公告编号：2025-010 广东粤海饲料集团股份有限公司 2、股东本次股份质押的基本情况 | 股东名称 | 是否为控 | | | 占公 | | | | | 质权人 | 质押用途 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | 股股东或 | 本次质押 | 占其所 | 司总 | 是否为限 | 是否为 | 质押起始 | 质押到期 | | | | | 第一大股 | 数量 | 持股份 | 股本 | 售股 | 补充质 | 日 | 日 | | | | | 东及其一 | （股） | 比例 | | | 押 | | | | | | | 致行动人 | | | 比例 | | | | | | | | 湛江市对 虾饲料有 | 是 | 26,000,000 | 9.83% | 3.71% | 否 | 否 | 2025/4/23 | 9999/01/01 | 中国银河 证券股份 | 置换存量 质押融资 | | 限公司 | | | | | | | | | 有限公司 | | | 合计 | - | 26, ...

Core Insights - The article discusses the structure and dynamics of the feed industry in China, highlighting the upstream raw materials, midstream production, and downstream demand from farming and aquaculture sectors [1][4][6]. Industry Chain Overview - The feed industry chain consists of three segments: upstream raw materials (energy, protein, and microbial sources), midstream feed product development and production (including pig, poultry, ruminant, and aquaculture feeds), and downstream demand primarily from farmers and aquaculture enterprises [1]. - Recent government initiatives aim to reduce reliance on imported corn and soybean meal, leading to a gradual establishment of domestic raw material sources and improved stability [1]. - Midstream companies are enhancing innovation capabilities and accelerating new product development, with increasing vertical integration between midstream and upstream/downstream sectors [1]. - Rising meat consumption levels in China are expected to boost the scale of downstream aquaculture and livestock farming [1]. Regional Distribution - Upstream raw material suppliers are mainly located in Inner Mongolia, Guangdong, Fujian, and Beijing, while feed production companies are concentrated in Guangdong and Sichuan [6]. - The majority of downstream aquaculture companies are found in Guangdong, Jiangsu, and Henan provinces [6]. Company Developments - Major feed companies in China, such as New Hope, Haida Group, and Tongwei, have reported feed revenues exceeding 30 billion yuan, with some companies like Dabeinong and Jingji Zhino achieving gross margins above 11% [9]. - Haida Group and New Hope have high feed production and sales volumes, each exceeding 20 million tons [9]. - Investment activities in 2023 include establishing subsidiaries, new projects, and increasing capital in existing subsidiaries by leading feed companies [10].

广东粤海饲料集团股份有限公司(以下简称"公司")于 2024 年 4 月 25 日召 开第三届董事会第十五次会议、第三届监事会第十一次会议审议通过了《关于使 用部分闲置募集资金暂时补充流动资金的议案》，同意公司（含下属子公司）使 用部分闲置募集资金合计额度不超过人民币16,000万元（含）暂时补充流动资金， 用于公司与主营业务相关的生产经营等，使用期限自董事会审议批准之日起不超 过 12 个月。具体内容详见公司于 2024 年 4 月 29 日披露在《证券时报》《证券日 报 》 《 中 国 证 券 报 》 《 上 海 证 券 报 》 《 经 济 参 考 报 》 和 巨 潮 资 讯 网 （http://www.cninfo.com.cn）的《关于使用部分闲置募集资金暂时补充流动资金的 公告》（公告编号：2024-024）。 证券代码：001313 证券简称：粤海饲料 公告编号：2025-009 广东粤海饲料集团股份有限公司 关于归还用于暂时补充流动资金的闲置募集资金的公告 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。 2025 年 4 月 22 日 1 根据上 ...

饲企投资打造养 殖示范园区，粤 海饲料要怎样为 小棚虾产业提供 更大价值？_南 方+_南方plus 当前，国际贸易 环境发生剧烈变 动，对虾市场面 临巨大变局。据 专业机构分析， 随着关税摩擦加 剧，厄瓜尔多等 国对虾将填补美 国市场，中国对 虾消费市场或将 出现重大机遇。 近几年，小棚虾 在华南地区快速 发展，但也面临 种苗不稳定、技 术不完善、病害 频发等问题。怎 样让小棚虾养殖 更安全、更健 康、成本更低， 竞争力更强？江 "为客户创造价 值，做有效服 务" 南方农村报：江 门粤海作为一家 饲料企业，投资 打造养殖园区， 核心价值在哪 里？ 陈伟师：粤海饲 料集团董事长郑 石轩提出："客 户成功是粤海的 营销标准，为客 户创造价值，做 有效服务。"所 以我们打造了这 个粤海培训基 地，培养技术管 理人才和提炼总 门粤海饲料有限 公司（以下简称 江门粤海）总经 理陈伟师表示， 江门粤海作为粤 海饲料集团 (001313)旗下核 心子公司之一， 大胆做出创新， 通过小棚虾园 区，不断提供更 高效的技术方 案、更专业的真 实服务，帮助更 多园区实现高质 量发展。 结有效的服务模 式。 南方农村报：为 什么选择 ...

Investment Rating - The industry investment rating is "Overweight" indicating that the agricultural sector is expected to outperform the overall market [2][5]. Core Insights - The report emphasizes the strategic value of the agricultural sector under the backdrop of unexpected tariff policies and the "internal circulation + self-control" approach, highlighting investment opportunities across various sub-sectors [5][3]. - The report notes a significant increase in online sales of pet food, with March sales reaching 2.65 billion yuan, a year-on-year increase of 23% and a month-on-month increase of 44% [3][5]. Summary by Relevant Sections Agricultural Sector Performance - The Shenwan Agricultural Index rose by 3.3%, while the CSI 300 Index fell by 2.9% during the week [3][4]. - Top five gainers included Shen Nong Technology (35.7%), Xin Sai Co. (32.2%), Jin He Biological (28.8%), Wanxiang De Nong (24.9%), and Bei Da Huang (19.7%) [4][12]. Livestock Farming - Swine prices are expected to fluctuate, with the average price for external three yuan pigs at 14.80 yuan/kg, a week-on-week increase of 1.4% [3][13]. - The report anticipates a potential decline in pig prices due to increased supply in the second quarter, suggesting a left-side investment opportunity in the sector [3][5]. Poultry Farming - The price of white chicken chicks continues to weaken, with the average price at 2.54 yuan/chick, a week-on-week decrease of 7.64% [3][5]. - The report highlights the importance of monitoring consumer demand, particularly in the restaurant and catering sectors, as a key factor affecting the poultry market [3][5]. Pet Food Industry - The report indicates that domestic brands are likely to gain market share as the cost-effectiveness of imported pet food declines [5][3]. - Key companies in the pet food sector, such as Guai Bao Pet and Zhong Chong Co., reported significant growth in sales, with Guai Bao Pet achieving a 47% year-on-year increase in March [3][5]. Seed Industry - The necessity for self-control in the seed industry is increasingly evident, with a push towards biological breeding and accelerated industrialization [5][3]. - The report recommends focusing on companies like Longping High-Tech and Dabeinong in the seed sector [5][3].

技术领航，重塑行业标杆 在2024年及之后举办的水产饲料行业大会上，郑石轩董事长多次阐释"三高三低"战略，强调"降低蛋白绝非降低效益，而是借助科学配比促使营养效率实现 质的飞跃"。这一战略背后，是粤海饲料长达数十年潜心研发的深厚积淀： 其一，精准营养设计。粤海根据蛋白质氨基酸营养平衡理论，通过不同原料的合理搭配、补充适宜种类和数量的外源氨基酸实现蛋白水平下降。降低蛋白不 等于降低氨基酸，提升饲料可消化蛋白(优质蛋白原料)，维持氨基酸/蛋白比例在88%—92%以上，还提高了淀粉、脂肪等物质含量，提高饲料产品能量。 其二，原料替代与工艺升级双管齐下。一方面，凭借持续深入的产品技术研发，稳步推进原材料技术替代进程，不断精进产品配方技术，有效降低产品配方 成本；另一方面，结合先进的膨化工艺提升饲料营养的消化利用率，进一步降低生产成本。 其三，构建四重保障体系。从整体技术框架搭建、配方精细研发、工艺优化改进到灵敏高效的市场反馈机制，全方位形成闭环质量管控，全力确保产品稳定 性与卓越的养殖效果。 2025年4月，美国加征关税政策的落地引发全球农业产业链震荡。贸易壁垒的加剧，使得大豆等饲料核心原料的国际贸易成本陡增。同时， ...