Core Viewpoint - The company reported a significant decline in revenue and net profit for the year 2024, indicating financial challenges and operational difficulties [1][2]. Financial Performance Summary - The company's operating revenue for 2024 was 1.017 billion yuan, a decrease of 29.16% compared to 2023 [2]. - The net profit attributable to shareholders for 2024 was -28.71 million yuan, down 158.95% year-on-year [2]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -31.29 million yuan, reflecting a 193.25% decrease from the previous year [2]. - The net cash flow from operating activities was -30.85 million yuan, a decline of 167.14% compared to the previous year [2]. Q1 2025 Performance - In the first quarter of 2025, the company achieved an operating revenue of 286.19 million yuan, representing a year-on-year increase of 18.94% [3]. - The net profit attributable to shareholders for Q1 2025 was -5.12 million yuan, compared to -3.69 million yuan in the same period last year, indicating a worsening situation [3]. - The net profit after deducting non-recurring gains and losses for Q1 2025 was -5.62 million yuan, also showing a decline from -3.98 million yuan year-on-year [3]. - The net cash flow from operating activities for Q1 2025 was -8.89 million yuan, which is a 31.79% increase in negative cash flow compared to the previous year [3]. Fundraising and Projects - The company raised a total of 376.06 million yuan through its stock issuance, with a net amount of 319.06 million yuan allocated to various projects including feed production and health industry initiatives [4]. - The total issuance costs amounted to 57.01 million yuan, with underwriting fees constituting 31.80 million yuan [5].

Group 1 - The China Livestock Breeding Index (930707) increased by 0.05% as of May 27, 2025, with notable gains from companies such as Ruip Bio (300119) up 1.68% and Yike Food (301116) up 1.44% [1] - The Livestock ETF (516760) rose by 0.16%, with a latest price of 0.63 yuan, and has accumulated a 0.64% increase over the past two weeks [1] - The Livestock ETF has shown a net value increase of 3.27% over the past six months, with a maximum single-month return of 17.22% since its inception [1] Group 2 - Sichuan Province has drafted ten measures to promote high-quality development in the livestock industry, focusing on strengthening leading enterprises and supporting their participation in large-scale projects [2] - The measures aim to enhance the capabilities of leading livestock enterprises to drive the development of farms and households [2] Group 3 - Short-term pig prices are expected to remain stable, with a balanced supply-demand situation anticipated in the second half of the year, leading to a more optimistic outlook for pig price expectations and profitability of pig enterprises [3] - Current pig prices allow for slight profitability for breeding enterprises, but the industry faces challenges in capacity reduction, with cost competition becoming a key focus [3] Group 4 - As of May 26, 2025, the Livestock ETF has experienced a maximum drawdown of 5.00% this year, with a management fee of 0.50% and a custody fee of 0.10% [5] - The Livestock ETF tracks the China Livestock Breeding Index, which has a current price-to-earnings ratio (PE-TTM) of 12.33, indicating a historical low valuation [5] - The top ten weighted stocks in the China Livestock Breeding Index account for 69.38% of the index, with companies like Haida Group (002311) and Muyuan Foods (002714) being the largest contributors [5]

证券代码：001366 证券简称：播恩集团 公告编号：2025-037 播恩集团股份有限公司 2024年年度股东大会决议公告 特别提示： 1、本次股东大会无否决提案的情况； 2、本次股东大会不涉及变更前次股东大会决议。 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、会议召开和出席情况 1、会议召开的日期、时间 （1）现场会议日期和时间：2025年5月22日（星期四）15：00 （2）网络投票日期与时间：通过深圳证券交易所系统进行网络投票的时间 为2025年5月22日上午9:15—9:25，9:30—11:30和下午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5月22日9：15-15:00的任意 时间。 2、股权登记日：2025年5月16日（星期五） 3、现场会议召开地点：广州市白云区广陈路136号播恩集团办公楼9楼会议 室 4、会议召集人：董事会 5、会议召开方式：本次股东大会采用现场和网络投票相结合方式 6、现场会议主持人：董事长邹新华先生 1 7、股东出席会议情况 表决结果：同意票110,807,650股， ...

广州市天河区珠江新城珠江西路 21 号 粤海金融中心 28 层 邮编：510627 电话：(86-20) 2805-9088 传真：(86-20) 2805-9099 北京市君合（广州）律师事务所 关于播恩集团股份有限公司 2024 年年度股东大会的法律意见 致：播恩集团股份有限公司 北京市君合（广州）律师事务所（以下简称"本所"）接受播恩集团股份有限公司 （以下简称"公司"）的委托，指派本所经办律师出席了公司于 2025 年 5 月 22 日在广 州市白云区广陈路 136 号播恩集团办公楼 9 楼召开的 2024 年年度股东大会（以下简称 "本次股东大会"）的现场会议。现根据《中华人民共和国公司法》《中华人民共和国证 券法》《上市公司股东会规则》等中国（为本法律意见之目的，"中国"不包括香港特别 行政区、澳门特别行政区及台湾地区）现行法律、法规和规范性文件（以下简称"法律、 法规"）以及《播恩集团股份有限公司章程》（以下简称"公司章程"）、《播恩集团股份 有限公司股东大会议事规则》（以下简称"公司股东大会议事规则"）的有关规定，就本 次股东大会有关事宜出具本法律意见。 本所经办律师依据本法律意见出具日以前已 ...

一、 担保情况概述 公司于2025年1月20日召开第三届董事会第十四次会议及2025年2月13日召 开2025年第一次临时股东大会，审议通过了《关于2025年度担保额度预计的议案》， 同意2025年度公司为合并报表范围内子公司提供担保、子公司为公司提供担保的 担保额度不超过人民币18.00亿元，担保额度有效期为自公司2025年第一次临时 股东大会审议通过之日起12个月内有效。 具体内容详见公司于2025年1月21日刊登在《证券时报》《中国证券报》《证 券日报》《上海证券报》《经济参考报》和巨潮资讯网（http://www.cninfo.com.cn） 披露的相关公告。 证券代码：001366 证券简称：播恩集团 公告编号：2025-036 播恩集团股份有限公司 关于向全资子公司提供担保的进展公告 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： 截至本公告披露日，播恩集团股份有限公司（以下简称"公司"或"播恩集团"） 及子公司对外担保总额超过最近一期经审计净资产100%，对资产负债率超过70% 的被担保对象担保，敬请投资者关注担保风险。 二、 担保进 ...

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。 为进一步加强与投资者的互动交流，播恩集团股份有限公司（以下简称"公 司"）将参加由江西省上市公司协会举办的"2025 年江西辖区上市公司投资者网 上集体接待日活动"，现将相关事项公告如下： 本次活动将采用网络远程的方式举行，投资者可登录"全景路演"网站 （http://rs.p5w.net），或关注微信公众号：全景财经，或下载全景路演 APP，参 与本次互动交流，活动时间为 2025 年 5 月 21 日（周三） 15:30-17:00。届时将 在线就公司 2024 年度业绩、公司治理、发展战略、经营状况等投资者关心的问 题，与投资者进行沟通与交流，欢迎广大投资者踊跃参与！ 证券代码：001366 证券简称：播恩集团 公告编号：2025-035 播恩集团股份有限公司 关于参加江西辖区上市公司2025年投资者 网上集体接待日活动的公告 播恩集团股份有限公司董事会 2025 年 5 月 10 日 1 特此公告！ ...

Group 1: Financial Performance - In 2024, the company achieved operating revenue of 1,016.95 million yuan, with a net profit of -28.71 million yuan [1] - In Q1 2025, the company reported operating revenue of 286.19 million yuan, with a net profit of -5.12 million yuan [1] - The overall performance of the feed industry in 2024 showed a total output value of 1,262.08 billion yuan, a decrease of 10% compared to the previous year [3] Group 2: Market Trends and Challenges - The company noted a 30.49% decline in sales revenue from pig feed in 2024, while sales revenue from egg-laying chicken feed increased by 19.1% [2] - The feed industry is expected to accelerate transformation under four major trends: centralization, technological advancement, greening, and globalization [2] - The company plans to enhance product value through customized feed products and comprehensive technical services to improve customer satisfaction and loyalty [1] Group 3: Strategic Initiatives - The company aims to diversify its product structure and strengthen its ability to withstand cyclical risks by focusing on egg-laying feed development [2] - Future plans for share repurchase or increase will be disclosed in accordance with relevant regulations [1] - The company is committed to transitioning from a single advantage to a multi-category feed service provider [2]

Group 1 - The core viewpoint of the news highlights a mixed performance in the livestock breeding sector, with the China Livestock Breeding Index experiencing a slight decline of 0.07% as of April 30, 2025, while specific stocks like Tiankang Biological and Tianma Technology showed gains [1] - The Agricultural and Rural Affairs Department has released an implementation plan aiming to reduce the proportion of grain used in livestock feed to 60% and soybean meal to 10% by 2030, promoting measures such as precise feed formulation and the development of high-quality forage [1] - The Livestock ETF has seen a 2.47% increase over the past month, ranking in the top quarter among comparable funds [1] Group 2 - According to a report from Guosheng Securities, the allocation of the livestock sector in fund heavy positions has significantly decreased, with a first-quarter heavy position ratio of 0.45%, down 0.06 percentage points from the previous quarter and 0.65 percentage points year-on-year, marking the lowest level in three years [2] - The current price-to-earnings ratio (PE-TTM) of the Livestock ETF is 12.89, indicating it is at a historical low, being below 98.82% of the time over the past year [2] - The China Livestock Breeding Index includes companies involved in livestock feed, veterinary drugs, and livestock farming, reflecting the overall performance of listed companies in the livestock sector [2] Group 3 - As of March 31, 2025, the top ten weighted stocks in the China Livestock Breeding Index accounted for 69.05% of the index, with Hai Da Group, Wens Foodstuffs, and Muyuan Foods being the top three [3] - The weightings of the top stocks include Hai Da Group at 11.24%, Wens Foodstuffs at 10.10%, and Muyuan Foods at 10.08%, with Tiankang Biological showing a notable increase of 2.88% [5]

Financial Performance - The company reported a basic earnings per share of -0.1800 yuan for 2024, a decrease of 156.25% compared to 0.3200 yuan in 2023 [1] - The total revenue for 2024 was 10.17 billion yuan, down 29.18% from 14.36 billion yuan in 2023 [1] - The net profit for 2024 was -0.29 billion yuan, representing a decline of 159.18% from a profit of 0.49 billion yuan in 2023 [1] - The return on equity for 2024 was -3.44%, a significant drop from 6.13% in 2023 [1] Shareholder Structure - The top ten unrestricted shareholders collectively hold 14.5264 million shares, accounting for 26.09% of the circulating shares, with an increase of 1.0917 million shares compared to the previous period [2] - Notable new entrants among the top shareholders include Morgan Stanley & Co. International PLC and Goldman Sachs LLC, while three shareholders exited the top ten list [3] Dividend Policy - The company has announced no distribution or capital increase for the current period [3]

国泰海通证券股份有限公司 关于播恩集团股份有限公司 2024 年度持续督导工作现场检查报告 | 保荐人名称：国泰海通证券股份有限公司 被保荐公司简称：播恩集团 | | --- | | （以下简称"国泰海通"或"保荐人"） | | 保荐代表人姓名：卢婷婷 联系电话：0755-25869830 | | 保荐代表人姓名：龚思琪 联系电话：075525869929 | | 现场检查人员姓名：卢婷婷 | | 现场检查对应期间：2024 年度 | | 年 月 日 现场检查时间：2025 4 16 | | 一、现场检查事项 现场检查意见 | | （一）公司治理 是 否 不适用 | | 现场检查手段：（1）查阅了上市公司最新章程、三会议事规则及会议材料；（2）查阅关 | | 于公司控股股东、实际控制人、董事、监事、高级管理人员的信息披露文件及相关变更 | | 决策文件；（3）查看上市公司生产经营场所，对上市公司高级管理人员进行访谈。 | | 1.公司章程和公司治理制度是否完备、合规 √ | | 2.公司章程和股东大会、董事会、监事会规则是否得到有效执行 √ | | 3.股东大会、董事会、监事会会议记录是否完整，时间、地点、出 ...