天邦食品股份有限公司 2025 年 7 月份商品猪销售情况简报 证券代码：002124 证券简称：天邦食品 公告编号：2025-061 上述数据未经审计，与定期报告披露的数据之间可能存在差异，因此仅作为阶段 性数据供投资者参考。 二、风险提示 1、商品猪市场价格的大幅波动（下降或上升），都可能会对公司的经营业绩产生 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。 一、商品猪销售情况 公司 2025 年 7 月份销售商品猪 53.67 万头（其中仔猪销售 20.49 万头），销售收 入 68,583.77 万元，销售均价 16.19 元/公斤（商品肥猪均价为 14.60 元/公斤），环比变 动分别为 6.01%、1.59%、1.96%。 2025 年 1-7 月销售商品猪 349.49 万头（其中仔猪销售 115.52 万头），销售收入 482,929.80 万元，销售均价 16.19 元/公斤（商品肥猪均价为 14.73 元/公斤），同比变动 分别为-1.49%、-0.34%、-4.79%。 上述数据统计口径仅包括公司控股子公司，未包括公司参股公司。参股公司 ...

Summary of Key Points Core Viewpoint - The report highlights the salary trends and demographic characteristics of CFOs in A-share listed companies for 2024, indicating a total salary scale of 4.27 billion yuan and an average annual salary of 814,800 yuan. Group 1: Salary Overview - The total salary of CFOs in A-share listed companies reached 4.27 billion yuan, with an average annual salary of 814,800 yuan [1] - The highest salary recorded was 4.26 million yuan for Yang Shaolin, CFO of Haida Group, with a significant increase of 2.27 million yuan from the previous year [6] - 67% of CFOs experienced salary increases last year, while 28% saw declines [8] Group 2: Industry Breakdown - In the agriculture, forestry, animal husbandry, and fishery sector, the average salary for CFOs was 787,100 yuan, which is below the market average [1] - Among 22 CFOs in the agriculture, forestry, animal husbandry, and fishery sector, 5 had salaries exceeding 1 million yuan [6] - Companies with revenue exceeding 100 billion yuan had CFOs with higher salaries, while smaller companies had lower compensation [6] Group 3: Demographics - The majority of CFOs are aged between 40 and 50 years, accounting for 43% of the total [1] - The educational background shows that 48% of CFOs hold a bachelor's degree, while 37% have a master's degree [3] - The youngest CFO is 32 years old, while the oldest is 63 years old [1] Group 4: Salary Distribution - The most common salary range for CFOs is between 500,000 and 1 million yuan, making up 31% of the total [5] - There are 4 CFOs with salaries exceeding 2 million yuan, representing 5% of the total [5] - The lowest salary recorded was 150,000 yuan for a CFO in the agriculture sector [6]

Investment Rating - Investment rating for the agriculture, forestry, animal husbandry, and fishery industry is "Positive" (maintained) [1] Core Viewpoints - The industry is experiencing a supply contraction due to overselling of live pigs since June, leading to a potential increase in pig prices in Q3 2025. The average selling price of live pigs in June 2025 was 14.28 yuan/kg, down 2.28% month-on-month and down 21.99% year-on-year [4][15] - The supply-demand dynamics are improving, with the gross white price difference strengthening month-on-month. As of July 17, 2025, the gross white price difference was 4.71 yuan/kg, an increase of 0.45 yuan/kg compared to June, although lower than the same period in 2024 [5][27] - The industry is entering a critical supply contraction phase, with expectations for the price center of live pigs to rise monthly [4][15] Summary by Sections Industry Overview - Since June, the overselling of live pigs has intensified, leading to a supply contraction. The average price of live pigs in June 2025 was 14.28 yuan/kg, reflecting a month-on-month decrease of 2.28% and a year-on-year decrease of 21.99% [4][15] - The monitoring sample indicated a slaughter volume of 4.3168 million heads in June 2025, down 6.20% month-on-month but up 12.22% year-on-year [4][15] Supply and Demand Dynamics - The gross white price difference has improved, indicating a stronger supply-demand balance. The national frozen product storage rate was 16.85%, down 0.03 percentage points year-on-year [5][27] - The industry is currently in a supply contraction phase, with expectations for the price center of live pigs to rise gradually [4][15] Company Performance - As of July 10, 2025, 12 listed pig farming companies reported a total of 16.1481 million heads sold in June, a year-on-year increase of 45.98% [6][34] - The average selling prices for major listed pig companies decreased month-on-month, with specific companies reporting the following prices: Muyuan Foods at 14.08 yuan/kg, Wens Foodstuff Group at 14.39 yuan/kg, and New Hope Liuhe at 14.18 yuan/kg [7][41]

Group 1 - The company is undergoing a pre-restructuring process as approved by the Ningbo Intermediate People's Court, which does not guarantee that the court will ultimately accept the company's restructuring application [4][54] - The company faces risks of being delisted if the court accepts the restructuring application, as per the Shenzhen Stock Exchange listing rules [2][54] - The company has received formal applications from five industrial investors and two financial investors for restructuring investment [5] Group 2 - The restructuring investment agreements have been signed with multiple financial investors, including Guangzhou Asset Management Co., Ltd., Chengdu Jirui Zeya Enterprise Management Partnership, and Nanchang Yuze Enterprise Management Partnership [6][40] - The total investment amounts from the financial investors include CNY 16.8 million from Guangzhou Asset Management, CNY 38.22 million from Chengdu Jirui, and CNY 49.98 million from Nanchang Yuze, with each investor acquiring shares at a price of CNY 2.10 per share [25][34][41] - The restructuring investment agreements stipulate that the investors will not transfer or delegate their shares for twelve months after acquiring them [48] Group 3 - The restructuring investment is aimed at restoring and improving the company's operational capabilities while protecting the interests of creditors, shareholders, and employees [24][40] - The agreements include provisions for a performance guarantee, where investors must pay a deposit that will convert into part of the investment upon approval of the restructuring plan [26][35][42] - The company anticipates that successful restructuring will improve its financial structure and resolve its debt crisis, thereby enhancing its operational and profitability capabilities [53]

Group 1 - The core point of the announcement is that Tianbang Food Co., Ltd. has signed a "Restructuring Investment Agreement" with financial investors, marking a significant step in its pre-restructuring process [1][28] - The company is currently undergoing pre-restructuring, with the court having accepted its restructuring application, although there remains uncertainty about whether it will officially enter the restructuring process [1][29] - The restructuring plan aims to improve the company's financial structure and resolve its debt crisis, potentially restoring its operational and profitability capabilities [28][29] Group 2 - The pre-restructuring management team has been appointed, consisting of multiple law firms to oversee the process [2] - The company has received formal applications from 5 industrial investors and 2 financial investors for the restructuring investment [2] - The pre-restructuring period has been extended to May 9, 2025, allowing more time for the restructuring process [2][3] Group 3 - The financial investors have committed to not transferring or entrusting their shares in the company for twelve months after acquiring them through the restructuring plan [26] - The price per share for the restructuring investment is set at 2.10 yuan, which is below the market reference price, ensuring compliance with regulatory requirements [27] - The total investment amount required from the financial investors is 39,984,000 yuan, which will be used for paying bankruptcy costs and settling various debts [22][24] Group 4 - The restructuring investment agreements with various financial investors are crucial for the company's pre-restructuring and restructuring processes [28] - The agreements stipulate that the funds will be used to pay off bankruptcy debts and support the company's operational needs [18][22] - The company emphasizes that the implementation of the restructuring investment agreements will ultimately depend on the court's approval of the restructuring plan [28]

证券代码：002124 证券简称：天邦食品 公告编号：2025-060 天邦食品股份有限公司 关于与财务投资人签署《重整投资协议》 暨预重整进展的公告 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。 重要内容提示： 1、预重整为法院正式受理重整前的程序，法院同意公司预重整，不代表法院最终 裁定受理公司重整，公司后续是否进入重整程序尚存在不确定性。公司将密切关注相 关情况并根据进展及时履行信息披露义务。 2、公司股票交易存在被实施退市风险警示的风险：若法院裁定受理公司重整，根 据《深圳证券交易所股票上市规则》的相关规定，公司股票将被实施退市风险警示。 3、公司股票存在终止上市的风险：如果法院正式受理对公司的重整申请且公司顺 利实施重整并执行完毕重整计划，将有利于改善公司资产负债结构，推动公司健康、可 持续发展。但即使法院正式受理对公司的重整申请，公司仍存在因重整失败而被宣告 破产的风险。如果公司被宣告破产，公司将被实施破产清算，根据《深圳证券交易所股 票上市规则》的相关规定，公司股票将面临被终止上市的风险。 4、重整投资协议的履约风险：关于本次重整投资协议，可 ...

Summary of Key Points Core Viewpoint - Tianbang Food Co., Ltd. has disclosed new litigation and arbitration matters totaling approximately RMB 563.01 million, which accounts for 15.32% of the company's latest audited net assets as of December 31, 2024 [1]. Group 1: New Litigation and Arbitration Matters - The total amount involved in new litigation and arbitration matters is approximately RMB 563.01 million, with RMB 408.78 million as the claimant and RMB 154.23 million as the defendant [1]. - There are no individual cases with amounts exceeding 10% of the company's latest audited net assets or exceeding RMB 10 million [1]. Group 2: Progress of Previously Disclosed Cases - The arbitration case with Zhejiang Construction Investment Group Co., Ltd. is currently in the execution phase, with five subsidiaries applying for bankruptcy [2]. - The company has signed a debt repayment agreement regarding the equity repurchase dispute with Anhui Guoyuan Tianbang Equity Investment Fund Co., Ltd., and the case is also in the execution phase [2]. Group 3: Other Disclosed Matters - There are no undisclosed significant litigation or arbitration matters involving the company or its subsidiaries [3]. - The impact of ongoing litigation and arbitration on the company's current and future profits remains uncertain and will be assessed based on accounting standards and case developments [3]. Group 4: Ongoing Monitoring and Disclosure - The company will continue to monitor the progress of litigation and arbitration cases and will take necessary measures to protect its legal rights [4]. - The company is committed to timely information disclosure in accordance with the Shenzhen Stock Exchange's regulations [4].

证券代码：002124 证券简称：天邦食品 公告编号：2025-059 本次披露的诉讼、仲裁案件情况中，公司及控股子公司不存在单项涉案金额占 公司最近一期经审计净资产绝对值10%以上，且绝对值金额超过人民币1,000万元 的重大诉讼、仲裁事项。 二、前期已披露的诉讼、仲裁事项的进展情况 前期已披露的诉讼、仲裁事项中，关于与浙江省建设投资集团股份有限公司的 合同纠纷仲裁案进展，公司分别于2024年7月12日披露了《关于公司及控股子公司 仲裁事项结果的公告》（公告编号：2024-083），于2024年9月4日披露了《关于收 到<执行通知书>及<执行裁定书>的公告》（公告编号：2024-102），于2024年11月 27日披露了《关于公司及控股子公司仲裁事项结果的公告》（公告编号：2024-122）， 于2025年6月25日披露了《关于公司重大仲裁及前期累计诉讼、仲裁的进展公告》 （公告编号：2025-053），目前该案处于执行阶段，涉案五家子公司：被执行人杭 州富阳农发生态养殖有限公司（以下简称"富阳农发"）、湖州南浔农发牧业有限 公司（以下简称"南浔农发"）、湖州吴兴农发牧业有限公司（以下简称"吴兴农 发"）、 ...

Core Viewpoint - The article discusses the recent decline in pig prices and the overall performance of the pig farming industry, highlighting changes in supply, demand, and pricing dynamics [3][4]. Group 1: Pig Price Trends - As of July 11, the average price of external three yuan pigs in China was 14.81 yuan/kg, reflecting a week-on-week decrease of 3.52%. The average price for 15 kg piglets was 31.89 yuan/kg, showing a week-on-week increase of 1.79% [3]. - The average weight of market pigs sold this week was 129.03 kg, which is an increase of 0.39 kg compared to the previous week. The national frozen product inventory rate rose to 14.31%, up by 0.08 percentage points [3]. Group 2: June Sales Report Analysis - In June, 13 listed pig companies collectively sold 16.2681 million pigs, representing a month-on-month increase of 2.65% and a year-on-year increase of 47.55%. Major companies like Muyuan, Wens, and New Hope saw varying changes in their sales volumes [4]. - The total number of market pigs sold in June was approximately 13.5449 million, with a month-on-month increase of 3.30% and a year-on-year increase of 43.36%. The sales of piglets decreased slightly by 1.90% month-on-month but increased by 74.14% year-on-year [4]. - The average selling price of market pigs decreased due to inventory reduction, with most companies experiencing a price drop of less than 3% month-on-month and approximately 20% year-on-year [4]. Group 3: Weight and Pricing Dynamics - The average weight of market pigs sold in June was 125.06 kg, down by 0.77 kg month-on-month, indicating a trend towards reducing weight as companies adjust to market conditions [4]. - The average selling price varied among companies, with the lowest at 13.23 yuan/kg and the highest at 15.57 yuan/kg, with most companies maintaining prices between 14-15 yuan/kg [4].

Core Viewpoint - The domestic pig farming industry is experiencing a weak price environment due to strong supply and weak demand, leading to a slow recovery in profitability for listed pig companies [3][4][9] Group 1: Sales Performance of Listed Pig Companies - In June, the average sales price of live pigs for listed companies generally declined year-on-year and month-on-month, with a drop of 15% to 20% [4][5] - Muyuan Foods (002714.SZ) achieved a record monthly sales volume of 7.019 million pigs in June, with a month-on-month increase of 9.57%, resulting in a sales revenue of 12.799 billion yuan, a year-on-year increase of 27.65% [5][6] - Wens Foodstuff Group (300498.SZ) maintained a sales volume of over 3 million pigs, selling 3.0073 million pigs in June, with a revenue of 4.92 billion yuan, reflecting a month-on-month price drop of 1.98% [6] - Smaller pig companies showed significant sales variation, with some doubling their sales while others saw a decrease of over 10% [4][5] Group 2: Market Trends and Price Movements - The pig price hit a 16-month low in June, dropping to 13.96 yuan/kg, but began to recover in July, reaching 15.31 yuan/kg, the highest since the Spring Festival [4][8] - The agricultural authorities are guiding the industry towards destocking and capacity reduction, indicating that the current pig cycle has moved past its bottom [3][9] - Analysts suggest that the "anti-involution" measures may help stabilize prices and improve profitability in the long term, as the industry shifts towards higher quality competition [9][10] Group 3: Future Outlook - The Ministry of Agriculture plans to reduce the breeding sow inventory by approximately 1 million heads to optimize production and improve quality [10] - The industry is expected to enter a new era of high-quality competition, with a focus on cost management and disease prevention becoming critical for large-scale farming enterprises [10] - The supply constraints in the pig industry may become a new normal, with limited expansion expected in the coming years, potentially leading to improved profitability for quality enterprises [10]