证券代码：002234 证券简称：民和股份 山东民和牧业股份有限公司投资者关系活动记录表 | --- | --- | --- | |-------------------|--------------------------------|------------------------------------------------------| | | ■ | 特定对象调研 □分析师会议 | | 投资者关系活 | □ 媒体采访 □业绩说明会 | | | 动类别 | □ 新闻发布会 □路演活动 | | | | □ 现场参观 □ | 其他（请文字说明其他活动内容） | | 参与单位名称 | 方正证券股份有限公司：程一胜 | | | 及人员姓名 | | | | 时间 | 2017 年 6 月 7 日 | | | 地点 | 山东民和牧业股份有限公司会议室 | | | 上市公司接待 | 证券事务代表：高小涛 | | | 人员姓名 | | | | 投资者关系 | 一、白羽肉鸡行业市场状况 | | | 活动主要 内容介绍 | | 之前年度行业自发削减产能的同时，美国、法国等主要引种 | | | | 地发生禽流感，突发事件 ...

Group 1: Market Conditions - The white feather broiler chicken industry experienced a rebound in early 2016, leading to increased breeding and forced molting behaviors in the industry [2][4] - Despite a significant reduction in grandparent stock imports, the overall scale of breeding stock did not decline noticeably due to a large number of replacements [4] - The supply of chick seedlings has increased since Q4 2016, leading to a decline in prices, while consumer confidence in chicken meat has been impacted by H7N9 cases [4] Group 2: Supply and Demand Dynamics - Major exporting countries for grandparent chickens in Europe and the U.S. have not resumed exports, resulting in a significant decrease in import volumes in 2015 and 2016 [4] - The decline in grandparent chicken imports will ultimately lead to a decrease in downstream supply, while consumer demand for chicken meat remains stable [4] Group 3: Cost Structure - The main costs for the company's commercial broiler chicks include feed, parent stock procurement, labor, medicine, depreciation, and utilities, with corn and soybean meal being significant components of feed costs [5] Group 4: 2017 Company Plans - In 2017, the company plans to steadily expand the breeding scale of parent stock and match the construction of hatcheries with breeding scale [5] - The company aims to accelerate the construction of commercial chicken farms to ensure a sufficient and safe supply of raw materials for its food business [5] - The company will manage inventory carefully to achieve better profitability while expanding the scale of cooked and processed foods based on market conditions [5]

Group 1: Market Conditions - The white feather broiler industry faced a reduction in domestic breeding due to avian influenza outbreaks in major importing countries like the US and France, leading to a decrease in breeding stock [2][3] - In 2016, the breeding market rebounded after previous years of low performance, with chick and broiler prices rising significantly [3] - Despite a significant reduction in breeding stock, the overall scale of breeding chickens did not decline due to increased replacement of parent stock [3] Group 2: Cost Structure - The main costs for the company's broiler chicks include feed, parent stock procurement, labor, medicine, depreciation, and utilities, with corn and soybean meal being significant components of feed costs [4] Group 3: Sales Channels - The company's chick sales are primarily concentrated in Shandong, Liaoning, and surrounding provinces, targeting large breeding enterprises and distributors [4] - Chicken products are sold nationwide, with major customers including fast food chains, group clients, and distributors [4] Group 4: 2017 Strategic Planning - In 2017, the company plans to steadily expand the breeding scale of parent stock and construct hatcheries to match production capacity [4] - The company aims to manage inventory effectively while ensuring food safety and meeting its slaughtering business needs [5] - There is a focus on expanding the scale of cooked and processed foods based on market conditions to prepare for further industry chain extension [5]

Group 1: Market Conditions - The white feather broiler industry experienced a rebound in early 2016, leading to increased breeding and forced replacement behaviors despite a significant reduction in grandparent stock imports [2][3] - The supply of chick seedlings has increased since the fourth quarter of the previous year, resulting in a decline in prices [3] - The occurrence of H7N9 human infection cases has negatively impacted consumer confidence in chicken meat, leading to a downturn in the industry [3] Group 2: Price and Cost Factors - The price of chick seedlings is influenced by various factors, including upstream imports and downstream consumer demand, making long-term price predictions challenging [4] - The main costs for the company in chick seedlings include feed, parent stock procurement, labor, medicine, depreciation, and utilities, with corn and soybean meal being significant components [4] Group 3: Sales Channels - The company's chick seedlings are primarily sold in Shandong, Liaoning, and surrounding provinces, targeting large breeding enterprises and distributors [4] - Chicken products are sold nationwide, with major customers including fast food chains, group clients, and distributors [4] Group 4: 2017 Company Plans - In 2017, the company plans to steadily expand the breeding scale of parent stock and match the construction of hatcheries with breeding capacity [5] - The company aims to manage inventory effectively and achieve better profitability while expanding the scale of cooked and processed foods based on market conditions [5]

证券代码：002234 证券简称：民和股份 山东民和牧业股份有限公司投资者关系活动记录表 编号：2017-001 | --- | --- | --- | |--------------|----------------------------|-----------------------------------------| | | | | | | ■ | 特定对象调研 □分析师会议 | | 投资者关系活 | □ | 媒体采访 □业绩说明会 | | 动类别 | □ | 新闻发布会 □路演活动 | | | ■ 现场参观 | □ 其他（请文字说明其他活动内容） | | 参与单位名称 | | 益海（烟台）粮油工业有限公司:王明辉 | | 及人员姓名 | | 益海（连云港）粮油工业有限公司 : 李晓威 | | | | 深圳市瑞克投资管理有限公司：肖朝江 | | | | 中国储备粮武汉直属库：王振辉 | | | | 上海鸿凯投资有限公司：胡声博 | | | | 新希望六和股份有限公司：吴文文 | | | 招商证券股份有限公司：周莎 | | | | | 武汉芝华商业数据分析有限公司：冯华 | | | | 武汉芝华商业数 ...

Group 1: Market Conditions of Broiler Chicken Industry - The supply of parent stock and commercial broiler chicks is tight due to a significant reduction in breeding imports, with a continuous low import volume over the past few years leading to a drastic contraction in supply [2][3] - The price of chick sales surged, exceeding 10 RMB per chick from January to May this year, but experienced a significant drop in June due to seasonal factors and market panic [3][4] - The ongoing African swine fever epidemic is expected to create a gap in pork supply, further increasing demand for chicken and other meat products [3] Group 2: Company Development and Planning - The company has canceled its fundraising through private placement and is flexibly developing cooked and processed food based on market conditions, with two food processing projects expected to be completed within 1-2 years using self-raised funds [4] - A plan is in place to establish a breeding farm with an annual capacity of 800,000 sets of parent meat chickens to maintain and enhance the leading advantage and market share in parent stock breeding [4] - The company is focusing on cooked food processing and parent chicken breeding while improving its matching capabilities in breeding and slaughtering within the industry chain [4]

编号：2019-005 证券代码：002234 证券简称：民和股份 山东民和牧业股份有限公司 2019 年 8 月 27 日投资者关系活动记录表 | --- | --- | --- | |-------------------|--------------------------------|----------------------------------------------------| | | ■特定对象调研 □分析师会议 | | | 投资者关系活 | □媒体采访 □业绩说明会 | | | 动类别 | □ 新闻发布会 □路演活动 | | | | □现场参观 □ | 其他（请文字说明其他活动内容） | | 参与单位名称 | 东北证券股份有限公司：李瑶 | | | 及人员姓名 | | | | 时间 | 2019 年 8 月 27 | 日 | | 地点 | 山东民和牧业股份有限公司会议室 | | | 上市公司接待 | 证券事务代表：高小涛 | | | 人员姓名 | | | | 投资者关系 | 一、白羽肉鸡行业市场状况 | | | 活动主要 内容介绍 | | 由于祖代引种是我国白羽肉鸡产业供给的源头，因海 ...

编号：2019-006 证券代码：002234 证券简称：民和股份 山东民和牧业股份有限公司 2019 年 11 月 5 日投资者关系活动记录表 | --- | --- | --- | |-------------------|--------------------------------|----------------------------------------------------| | | ■特定对象调研 □分析师会议 | | | 投资者关系活 | □媒体采访 □业绩说明会 | | | 动类别 | □ 新闻发布会 □路演活动 | | | | □现场参观 □ | 其他（请文字说明其他活动内容） | | 参与单位名称 | 广发证券股份有限公司：钱浩 | | | 及人员姓名 | | | | 时间 | 2019 年 11 月 5 | 日 | | 地点 | 山东民和牧业股份有限公司会议室 | | | 上市公司接待 | 证券事务代表：高小涛 | | | 人员姓名 | | | | 投资者关系 | 一、白羽肉鸡行业市场状况 | | | 活动主要 内容介绍 | | 由于祖代引种是我国白羽肉鸡产业供给的源头，因海 ...

证券代码：002234 证券简称：民和股份 山东民和牧业股份有限公司投资者关系活动记录表 编号：2017-007 | --- | --- | --- | |--------------|--------------------------------|----------------------------------------------------| | | ■ 特定对象调研 □分析师会议 | | | 投资者关系活 | □ 媒体采访 □业绩说明会 | | | 动类别 | □ 新闻发布会 □路演活动 | | | | □ 现场参观 □ | 其他（请文字说明其他活动内容） | | 参与单位名称 | 华泰证券股份有限公司：潘振亚 | | | 及人员姓名 | 中融基金管理有限公司：高煜明 | | | 时间 | 2017 年 12 月 6 | 日 | | 地点 | 山东民和牧业股份有限公司会议室 | | | 上市公司接待 | 证券事务代表：高小涛 | | | 人员姓名 | | | | 投资者关系 | 一、白羽肉鸡行业市场状况 | | | 活动主要 | | 之前年度行业自发削减产能的同时，美国、法国等主要引 | | ...

证券代码：002234 证券简称：民和股份 编号：2017-006 山东民和牧业股份有限公司投资者关系活动记录表 | --- | --- | --- | |--------------|--------------------------------|----------------------------------------------------| | | ■ 特定对象调研 □分析师会议 | | | 投资者关系活 | □ 媒体采访 □业绩说明会 | | | 动类别 | □ 新闻发布会 □路演活动 | | | | □ 现场参观 □ | 其他（请文字说明其他活动内容） | | 参与单位名称 | 海通证券股份有限公司：夏越 | | | 及人员姓名 | | | | 时间 | 2017 年 11 月 24 | 日 | | 地点 | 山东民和牧业股份有限公司会议室 | | | 上市公司接待 | 证券事务代表：高小涛 | | | 人员姓名 | | | | 投资者关系 | 一、白羽肉鸡行业市场状况 | | | 活动主要 | | 之前年度行业自发削减产能的同时，美国、法国等主要引 | | 内容介绍 | | 种地发生禽流 ...