Core Viewpoint - Tianbang Food (002124.SZ) reported its Q3 2025 results, highlighting a decrease in institutional investor holdings and the presence of a new public fund [1] Institutional Holdings - As of October 30, 2025, six institutional investors disclosed holdings in Tianbang Food A-shares, totaling 113 million shares, which represents 5.08% of the company's total share capital [1] - The institutional investors include notable firms such as Great Wall Securities Co., Ltd. and Wuhan Huisheng Biotechnology Co., Ltd. [1] - The total institutional holding percentage decreased by 1.83 percentage points compared to the previous quarter [1] Public Fund Activity - During this reporting period, one new public fund was disclosed, namely the Huaxia CSI 800 Index Enhanced A, which was not reported in the previous quarter [1]

Core Viewpoint - The company, Tianbang Food, is undergoing a restructuring process due to its inability to repay due debts, which has been recognized by the Ningbo Intermediate People's Court, indicating that the company has restructuring value and has initiated negotiations with major creditors [6][7]. Financial Data Summary - Cash and cash equivalents increased by 43.42% compared to the beginning of the period, primarily due to net cash inflows from operating activities [4]. - Prepaid accounts increased by 89.36% compared to the beginning of the period, mainly due to prepayments for procurement [5]. - Other non-current assets decreased by 34.34% compared to the beginning of the period due to reclassification [5]. - Contract liabilities increased by 77.05% compared to the beginning of the period, primarily due to advance payments received for goods [5]. - Investment income decreased by 86.60% year-on-year, mainly due to the sale of equity in a subsidiary in the previous year [5]. - Net cash flow from operating activities increased by 150.09% year-on-year, attributed to a decrease in cash paid for goods and services [5]. Legal and Arbitration Matters - The company is involved in multiple arbitration cases with Zhejiang Construction Investment Group, with a total claim amount of 1.296 billion yuan [7]. - Several subsidiaries have applied for bankruptcy proceedings, with one subsidiary already entering the pre-restructuring phase [7][8]. - The company has signed debt repayment agreements related to a significant lawsuit involving a share repurchase dispute, with a claim amount of 1.214 billion yuan [9]. Corporate Governance - The board of directors and supervisory board have confirmed the authenticity and completeness of the quarterly report, ensuring compliance with legal and regulatory requirements [2][11][14]. - The third-quarter financial report for 2025 was approved by both the board and the supervisory board, reflecting the company's actual situation without any misleading statements [11][14].

Core Viewpoint - Tianbang Food (002124.SZ) reported a decline in revenue and net profit for the first three quarters of 2025, indicating potential challenges in its financial performance [1] Financial Performance - The company achieved an operating income of 6.719 billion yuan, a year-on-year decrease of 5.98% [1] - The net profit attributable to shareholders was 260 million yuan, reflecting a significant year-on-year decline of 80.65% [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 126 million yuan, down 5.62% year-on-year [1] - Basic earnings per share were reported at 0.1168 yuan [1]

Core Viewpoint - Tianbang Food (002124.SZ) reported a decline in both revenue and net profit for the first three quarters of 2025, indicating potential challenges in its financial performance [1] Financial Performance - The company's operating revenue for the first three quarters was 6.719 billion yuan, a year-on-year decrease of 5.98% [1] - The net profit attributable to shareholders of the listed company was 260 million yuan, reflecting a significant year-on-year decrease of 80.65% [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 126 million yuan, down 5.62% year-on-year [1] - Basic earnings per share were reported at 0.1168 yuan [1]

记者注意到，今年来，商品猪销售均价下降趋势明显。天邦食品直言，生猪市场价格变动的风险是整个 生猪生产行业的系统风险，对任何一家生猪生产者来讲都是客观存在的、不可控制的外部风险。 10月30日晚间，天邦食品(600684)发布2025年三季报。前三季度，公司营业收入为67.19亿元，同比下降 5.98%；归母净利润为2.60亿元，同比下降80.65%；扣非净利润为1.26亿元，同比下降5.62%。 2025年9月份销售商品猪61.27万头（其中仔猪销售25.23万头），销售收入6.34亿元，销售均价13.69元/ 公斤（商品肥猪均价为12.80元/公斤），环比变动分别为15.68%、2.14%、-8.88%。 2025年1-9月销售商品猪463.73万头（其中仔猪销售161.01万头），销售收入60.85亿元，销售均价15.77 元/公斤（商品肥猪均价为14.39元/公斤），同比变动分别为3.01%、-6.99%、-11.76%。 | 年份 | 月份 | 销售数量(万头) | | 销售收入(万元) | | 商品肥猪均价 (元/公斤) | | --- | --- | --- | --- | --- | --- | ...

Core Viewpoint - Tianbang Food, established in 1996 and listed in 2007, is a leading player in pig farming and pork processing in China, showcasing significant investment value due to its full industry chain advantage [1] Group 1: Business Performance - In Q3 2025, Tianbang Food reported revenue of 6.719 billion yuan, ranking 5th in the industry, significantly lower than the top player Muyuan Foods at 111.79 billion yuan and second-ranked New Hope at 80.504 billion yuan [2] - The main business composition includes pig farming at 2.995 billion yuan (63.82%), food processing at 1.56 billion yuan (33.25%), and feed products at 134 million yuan (2.85%) [2] - The net profit for the same period was 259 million yuan, ranking 6th in the industry, again far below Muyuan Foods at 15.112 billion yuan and Wen's Group at 5.417 billion yuan [2] Group 2: Financial Ratios - As of Q3 2025, Tianbang Food's debt-to-asset ratio was 70.27%, higher than the industry average of 57.82%, but down from 73.85% in the same period last year [3] - The gross profit margin stood at 14.99%, above the industry average of 14.00%, although it slightly decreased from 15.65% year-on-year [3] Group 3: Management and Shareholder Information - Chairman Zhang Banghui's salary increased from 98,000 yuan in 2023 to 955,000 yuan in 2024, an increase of 857,000 yuan [4] - As of September 30, 2025, the number of A-share shareholders increased by 0.67% to 81,000, while the average number of circulating A-shares held per shareholder decreased by 0.67% to 24,300 [5]

每经AI快讯，天邦食品（SZ 002124，收盘价：2.85元）10月30日晚间发布公告称，公司第九届第四次 董事会会议于2025年10月30日在上海行政总部召开。会议审议了《2025年第三季度报告》等文件。 2025年1至6月份，天邦食品的营业收入构成为：养殖占比63.82%，食品占比33.25%，饲料及饲料原料 占比2.85%，其他占比0.08%。 每经头条（nbdtoutiao）——多地出现"负电价"，既然卖电"不挣钱"，为何电厂不愿停机？ （记者 张明双） 截至发稿，天邦食品市值为63亿元。 ...

Company Performance - Tianbang Food reported a revenue of approximately 6.719 billion yuan for the first three quarters of 2025, representing a year-on-year decrease of 5.98% [1] - The net profit attributable to shareholders of the listed company was approximately 260 million yuan, showing a significant year-on-year decline of 80.65% [1] - The basic earnings per share were 0.1168 yuan, also reflecting a year-on-year decrease of 80.65% [1] Market Valuation - As of the report date, Tianbang Food's market capitalization stood at 6.3 billion yuan [2]

天邦食品股份有限公司（以下简称"公司"）第九届监事会第三会议通知于 2025年10月18日以电话及电子邮件方式向全体监事发出，会议于2025年10月30 日以通讯及现场方式在上海行政总部召开。会议由监事会主席张炳良先生主持， 应出席会议监事3人，实际出席会议监事3人。会议的召集和召开符合《中华人民 共和国公司法》和《公司章程》的有关规定，决议合法有效。本次会议审议通过 了如下议案： 一、会议以 3 票赞成，0 票反对，0 票弃权审议通过了《2025 年第三季度报 告》； 经审核，监事会认为：公司董事会编制和审核的2025年第三季度报告的程序 符合法律、行政法规、部门规章及规范性文件的规定，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。 《 2025 年 第 三 季 度 报 告 》 于 2025 年 10 月 31 日 刊 登 于 巨 潮 资 讯 网 （www.cninfo.com.cn），公告编号：2025-072。 特此公告。 证券代码：002124 证券简称：天邦食品 公告编号：2025-071 天邦食品股份有限公司 第九届监事会第三次会议决议公告 本公司及 ...

天邦食品股份有限公司 第九届董事会第四次会议决议公告 证券代码：002124 证券简称：天邦食品 公告编号：2025-070 天邦食品股份有限公司董事会 二〇二五年十月三十一日 经审核，董事会认为公司2025年第三季度报告的编制及审议程序符合法律、 行政法规及中国证监会的规定，报告内容真实、准确、完整地反映了上市公司的 实际情况，不存在任何虚假记载、误导性陈述或者重大遗漏。 《 2025 年 第 三 季 度 报 告 》 于 2025 年 10 月 31 日 刊 登 于 巨 潮 资 讯 网 （www.cninfo.com.cn），公告编号：2025-072。 特此公告。 一、会议以 7 票赞成，0 票反对，0 票弃权审议通过了《2025 年第三季度报 告》； 本公司及董事会全体成员保证信息披露内容的真实、准确和完整， 没有虚假记载、误导性陈述或者重大遗漏。 天邦食品股份有限公司（以下简称"公司"）第九届董事会第四次会议通知 于2025年10月18日以电话及电子邮件方式向全体董事发出，会议于2025年10月30 日以现场及通讯方式在上海行政总部召开。会议由张邦辉先生主持，应出席会议 董事7人，实际出席会议董事7人 ...