分组1 - Shengnuo Biotech announced a cash dividend of RMB 0.03176 per share, with the record date on November 14, 2025, and the ex-dividend date on November 17, 2025 [1] - Jiangsu Guotai declared a cash dividend of RMB 1.70 per 10 shares (including tax), with the record date on November 17, 2025, and the ex-dividend date on November 18, 2025 [1] - Dabeinong issued a cash dividend of RMB 0.30 per 10 shares (including tax), with the record date on November 17, 2025, and the ex-dividend date on November 18, 2025 [1] 分组2 - Rongmei Co. announced a cash dividend of RMB 1.32 per 10 shares (including tax), with the record date on November 17, 2025, and the ex-dividend date on November 18, 2025 [2] - Kaisheng New Materials declared a cash dividend of RMB 0.50 per 10 shares (including tax), with the record date on November 17, 2025, and the ex-dividend date on November 18, 2025 [2] - Guilin Sanjin issued a cash dividend of RMB 2.00 per 10 shares (including tax), with the record date on November 18, 2025, and the ex-dividend date on November 19, 2025 [2] 分组3 - Longhua New Materials announced a cash dividend of RMB 0.70 per 10 shares (including tax), with the record date on November 18, 2025, and the ex-dividend date on November 19, 2025 [3] - Mingtai Aluminum declared a cash dividend of RMB 0.10 per share (including tax), with the record date on November 18, 2025, and the ex-dividend date on November 19, 2025 [3]

Core Viewpoint - The company announced a cash dividend distribution plan for the first three quarters of 2025, indicating a commitment to returning value to shareholders [1] Summary by Categories Dividend Announcement - The company will distribute a cash dividend of 0.3 yuan (including tax) for every 10 shares held [1] - The record date for shareholders to be eligible for the dividend is November 17, 2025 [1] - The ex-dividend date is set for November 18, 2025 [1]

Group 1 - The company Dabeinong (SZ 002385) announced a profit distribution plan, proposing a cash dividend of 0.3 yuan per 10 shares, totaling approximately 128 million yuan (including tax) [1] - The total share capital for the dividend calculation is approximately 4.28 billion shares after deducting about 19.71 million shares repurchased [1] - The ex-dividend date is set for November 18, 2025, with the record date on November 17, 2025 [1] Group 2 - For the first half of 2025, Dabeinong's revenue composition is as follows: feed and veterinary business accounts for 64.63%, pig farming industry 25.08%, other industries 5.7%, and seed and plant protection business 4.59% [1] - As of the report date, Dabeinong's market capitalization is 18.1 billion yuan [1]

1 一、担保情况概述 证券代码：002385 证券简称：大北农 公告编号：2025-102 北京大北农科技集团股份有限公司 公司及控股子公司担保进展公告 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： 北京大北农科技集团股份有限公司及控股子公司对外担保总额超过最近一 期经审计净资产的 100%，担保金额超过公司最近一期经审计净资产的 50%，本 次公司及控股子公司担保进展中涉及对资产负债率超过 70%的被担保对象"北京 右信供应链管理有限公司、北京易富农商贸发展有限公司、南宁大北农饲料科技 有限责任公司、北京大北农贸易有限责任公司、漳州大北农农牧科技有限公司、 北京科高大北农生物科技有限公司、广州易富农商贸发展有限公司、安徽省大北 农农牧科技有限公司、清远大北农生物科技有限公司、四川大北农农牧科技有限 责任公司、福建大北农华有水产科技集团有限公司、吉林大北农农牧科技有限责 任公司、南皮大北农农牧食品有限公司、宿迁大北农饲料有限责任公司、乌兰察 布大北农农牧食品有限公司、宿州大北农饲料有限公司、郴州大北农饲料科技有 限公司、宜宾大北农农牧科技有限公司 ...

证券代码：002385 证券简称：大北农 公告编号：2025-101 2、鉴于公司回购专用证券账户上的股份不参与 2025 年前三季度利润分配。 本次权益分派实施后除权除息价计算时，按公司总股本 4,300,078,565 股（含回 购 股 份 ） 折 算 的 每 10 股 现 金 红 利 = 实 际 现 金 分 红 总 金 额 ÷ 总 股 本 × 10=128,411,158.95 元÷4,300,078,565 股×10，即每 10 股现金红利为 0.298625 元。 因此，本次权益分派实施后的除权除息价格=股权登记日收盘价-每股现金股利= 股权登记日收盘价-0.0298625 元/股。 一、股东大会审议通过利润分配方案的情况 1.公司 2025 年第五次临时股东大会审议通过的利润分配方案为：以公司现 有总股本 4,300,078,565 股扣除回购专用证券账户以集中竞价方式累计回购公司 股份 19,706,600 股后计算的股本 4,280,371,965 股为基数，向全体股东每 10 股派 发现金红利 0.3 元（含税），合计现金分红总额为 128,411,158.95 元（含税）， 本次不进行资本 ...

Group 1 - The Agricultural and Animal Husbandry ETF (159275) showed a stable performance with a 1.5% increase in price and a trading volume of 18.72 million yuan as of November 10 [1] - Key performing stocks included Luoniushan, Honghui Fruits and Vegetables, and Lihua Co., with increases of 5.54%, 5.1%, and 4.49% respectively [1] - The Ministry of Agriculture and Rural Affairs will implement six types of agricultural electronic certificates nationwide starting November 1, 2025, to further standardize industry management processes [1] Group 2 - The livestock sector achieved revenue of 366.406 billion yuan in the first three quarters of 2025, a year-on-year increase of 6.97%, with a net profit of 23.296 billion yuan, up 4.52% year-on-year [1] - The revenue and net profit growth rates have slowed compared to the second quarter, with gross and net profit margins at 12.87% and 6.54%, respectively, showing a year-on-year decrease of 0.16 percentage points and 0.20 percentage points [1] - The cost rate during this period was 6.07%, down 0.75 percentage points year-on-year [1] Group 3 - Tianfeng Securities indicated that the price of yellow feather chickens may have bottomed out, with expectations for better average prices in the second half of the year due to supply-side adjustments [2] - The white feather chicken supply is expected to tighten significantly in 2025 due to overseas avian influenza restrictions, leading to a substantial reduction in domestic breeding volume [2] - The dairy cow inventory has decreased by 8%, indicating a potential turning point in milk prices [2]

Investment Rating - Industry Rating: Outperform the market (maintained rating) [9] Core Views - The swine sector continues to experience losses, with an increasing number of culled sows, indicating a need to focus on the expected recovery in this sector [2][13] - The dairy and beef sectors are undergoing significant capacity reduction, with a potential turning point for milk prices anticipated [3][15] - The pet sector is witnessing a trend towards premiumization and the rise of domestic brands, reshaping the competitive landscape [4][16] - The poultry sector is facing challenges with breeding stock shortages and improving consumer demand for yellow chickens [5][18] - The seed industry is poised for a turnaround, with an emphasis on biotechnology and the commercialization of genetically modified crops [7][23] - The feed sector shows signs of recovery, with leading companies like Haida Group achieving revenue and profit growth [24][26] Summary by Sections Swine Sector - The industry continues to face losses, with the average price of live pigs at 12.02 CNY/kg, down 4.07% from the previous week [13] - The average market value per head for leading companies is at historical low levels, with Muyuan at 3000-3500 CNY/head and Wens at 2000-3000 CNY/head [14] - Recommended stocks include leading breeders like Muyuan and Wens, with additional focus on flexible stocks such as Shennong Group and Dekang Agriculture [14] Beef Sector - The price of beef cattle is showing signs of stabilization, with the average price for fattened bulls at 25.62 CNY/kg [15] - The dairy cow population has decreased by 8%, indicating a significant capacity reduction [15] - Companies with mother cow resources or those adopting a "milk-meat linkage" model are expected to have stronger profitability [15] Pet Sector - The Double Eleven shopping festival highlighted the resilience and structural upgrades in the pet food market, with domestic brands gaining market share [4][16] - Key recommendations include pet food brands like Guibao Pet and Zhongchong Co., with a focus on companies with technological advantages and comprehensive product lines [17] Poultry Sector - The white chicken sector is under pressure due to breeding stock shortages, with a focus on the impact of avian influenza on imports [18][19] - Yellow chicken prices are expected to improve due to supply constraints and increasing consumer demand [20] - Recommended stocks include leading companies like Shennong Development and Yisheng Biological [19] Seed Sector - The seed industry is expected to benefit from increased focus on food security and the commercialization of genetically modified crops [7][23] - Key recommendations include leading seed companies like Longping High-Tech and Dabeinong [23] Feed Sector - Haida Group is highlighted as a key player in the feed sector, with significant market share growth and revenue increases [24][26] - The overall feed market is expected to recover as smaller companies exit the market, leading to improved conditions for remaining players [24]

Group 1 - The company is engaging in commodity futures hedging to stabilize raw material costs and pig sales prices, aiming to mitigate risks from price fluctuations and ensure steady development [1][2] - The board of directors approved the continuation of commodity futures hedging business, allowing a maximum margin usage of 300 million yuan, effective until the next annual shareholders' meeting [2] - From January 1 to October 31, 2025, the company reported approximately 119.06 million yuan in investment income from hedging activities, accounting for 34.43% of the previous year's audited net profit attributable to shareholders [2] Group 2 - In October 2025, the company sold 460,000 pigs, generating sales revenue of 579 million yuan, with a month-on-month sales volume increase of 23.09% and a year-on-year increase of 45.20% [17] - Cumulatively, from January to October 2025, the company sold 3.62 million pigs, representing a year-on-year growth of 28.09%, with total sales revenue of 5.48 billion yuan, up 12.51% year-on-year [17] - The increase in pig sales volume in October 2025 is attributed to the gradual release of production capacity [19]

Group 1 - Semiconductor Manufacturing International Corporation (SMIC) plans to acquire 47% equity in SMIC North, with due diligence and evaluation processes still ongoing [1][2] - Zhuhai Gree Supply Chain intends to convert a debt of 200 million yuan into equity to increase capital for Shenzhen Haoneng Technology, changing its status from a wholly-owned subsidiary to a controlling subsidiary [3] - China Huadian Corporation is set to invest 12.043 billion yuan in a combined heat and power generation project integrated with renewable energy in Heilongjiang [4] Group 2 - Yong'an Pharmaceutical announces that some directors and senior management plan to reduce their holdings by up to 0.0799% of the total shares [5] - Lihua Co. reports a 11.44% year-on-year increase in chicken sales revenue for October, totaling 1.461 billion yuan [6] - Degu Technology intends to terminate the acquisition of 100% equity in Haowei Technology due to difficulties in meeting the demands of all parties involved [7] Group 3 - Guocheng Mining plans to pay 3.168 billion yuan in cash to acquire 60% equity in Guocheng Industrial [8] - Yingtang Intelligent Control intends to acquire 100% equity in Guanglong Integration and 80% equity in Aojian Microelectronics, with stock resuming trading on November 10 [9] - Shanshan Holdings announces that its actual controller and major shareholder have divorced, resulting in a change in control [10] Group 4 - Nutaige plans to invest 100 million yuan to establish a wholly-owned subsidiary focused on robotics and related components [11] - Chengxing Co. reports that its Jiangyin factory is currently under temporary shutdown for rectification due to a raw material leak [12] - Xindong Holdings announces that its shareholder Hainan Zhuhua plans to reduce its stake by up to 3% [13] Group 5 - Yonghui Supermarket's vice president has completed a share reduction of 0.0012% [14] - Xi'an Tourism plans to issue A-shares to raise no more than 300 million yuan for working capital and bank loan repayment [15] - Xiaogoods City has successfully acquired land use rights for a commercial site in Yiwu for 3.223 billion yuan [16][17] Group 6 - Tongda Chuangzhi announces a cash dividend of 6 yuan per 10 shares for the 2025 interim period [18] - Shen Nan Electric A received a government subsidy of 8.0518 million yuan, accounting for 36.75% of its last fiscal year's net profit [19] - Founder Technology's subsidiary plans to invest 1.364 billion yuan in an AI expansion project in Chongqing [20] Group 7 - Hezhong China reports significant stock trading fluctuations, indicating a "hot potato" effect [21] - Hengrui Medicine's subsidiary has received approval for clinical trials of SHR-4610 injection for late-stage solid tumors [22] - Sihua Holdings announces the termination of a restructuring investment agreement and continues to seek potential investors [23] Group 8 - Yingwei Technology's subsidiary has won a 27.78% share of a project from China Mobile [24] - Dabeinong reports a 45.20% year-on-year increase in pig sales for October, totaling 5.79 billion yuan [25] - Meihua Biotech's major shareholder has been sentenced for market manipulation, but it does not affect the company's operations [26] Group 9 - Zhongyi Da plans to terminate the issuance of A-shares to specific investors [27] - Zhongji Oil and Gas has received a notice of investigation from the China Securities Regulatory Commission regarding trading violations [28] - China International Trade Corporation announces the resignation of its chairman due to work reasons [29] Group 10 - GAC Group reports a decline in October vehicle sales by 8.10% [30] - Dameng Data has invested 100 million yuan to establish an investment fund focused on the database industry [31] - Zhengbang Technology reports a 78.08% year-on-year increase in pig sales revenue for the first ten months [32] Group 11 - Shanghai Xiba has announced that its directors are under investigation for suspected short-term trading [33] - Changgao Electric New has won a bid for a project from the State Grid worth 246 million yuan [34] - Jianghuai Automobile reports a 5.49% increase in October sales [35] Group 12 - Xintian Green Energy reports a 20.97% year-on-year decrease in power generation for October [36] - Luokang Pharmaceutical's products have been selected in the national centralized procurement [37] - Zhongyuan Home intends to invest 16 million USD in a self-built production base in Vietnam [38] Group 13 - Changcheng Technology has terminated plans for a control change and will resume trading on November 10 [39] - Poly Development reports a significant decrease in signed sales area and amount for October [40] - Wanhua Chemical's MDI phase II facility will undergo maintenance starting November 15 [41]

Group 1 - Fangzheng Technology's subsidiary plans to invest 1.364 billion yuan in an AI expansion project in Chongqing to quickly increase production capacity [1] - The current production capacity at the Chongqing base cannot meet customer order demands, necessitating this investment [1] - The expansion aims to strategically optimize product structure and enhance the company's ability to meet the needs of high-end clients in AI, cloud computing, and big data sectors [1] Group 2 - Huadian Technology signed a contract worth approximately 3.415 billion yuan for a 1 million kW offshore wind power project, which constitutes about 45.29% of the company's latest audited revenue [2] - This contract is expected to have a positive impact on the company's operating performance [2] Group 3 - ST Huayun applied to revoke other risk warnings after receiving a penalty notice from the China Securities Regulatory Commission for false reporting from 2018 to 2022 [3] - The company has completed a review and found no conditions warranting the risk warning, thus meeting the criteria for revocation [3] Group 4 - Meihua Biological's controlling shareholder was sentenced to three years in prison (suspended for five years) for manipulating the securities market, but this matter does not affect the company's operations [4] - The company confirmed that its production and business activities remain normal despite the legal issues surrounding the shareholder [4] Group 5 - Shanghai Xiba's board members are under investigation for suspected short-term trading, but this investigation is personal and will not significantly impact the company's daily operations [5] Group 6 - Changcheng Technology terminated plans for a change in control due to a lack of consensus on key matters, and its stock will resume trading on November 10, 2025 [6] Group 7 - Hefei China reported a 23.91% year-on-year decline in consolidated revenue for the period from January to October 2025, totaling 587 million yuan [8] Group 8 - Various companies are involved in significant project wins and collaborations, including Rayco Defense acquiring minority stakes in a subsidiary and several companies winning contracts for large-scale projects [13]