证券代码：002385 证券简称：大北农 公告编号：2024-124 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 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"清远 大北农生物科技有限公司、北京大北农贸易有限责任公司、阆中大北农农牧食品 有限公司、辽宁盛得大北农牧业科技有限公司、广州易富农商贸发展有限公司、 海南大北农生物科技有限公司、蚌埠大北农农牧科技有限公司、昆明云中美农牧 科技有限公司、宜宾大北农农牧科技有限公司、长春大北农贸易有限公司、龙岩 大北农生物科技有限公司、齐齐哈尔大北农饲料有限公司、大连大北农牧业科技 有限责任公司、武汉绿色巨农农牧股份有限公司、北京科高大北农生物科技有限 公司、河北大北农农牧食品有限公司、漳州大北农农牧科技有限公司、北京易富 农商贸发展有限公司、北京右信供应链管理有限公司、福建大北农华有水产科技 集团有限公司、四川大北农农牧科技有限责任公司、淮安市淮阴大北农饲料有限 公司、宿迁 ...

Investment Rating - The report maintains a "Strongly Recommend" rating for the company, with a positive outlook on its future performance [2][4] Core Views - The company's pig farming business has shown significant profit realization, with a notable improvement in Q3 2024 [2] - The seed business is expected to grow steadily, with both traditional and biotech breeding sectors showing promising potential [2] - The company's feed business, although under pressure, has shown signs of recovery in Q3, with a 7-8% increase in pig feed sales [2] Financial Performance - In Q3 2024, the company reported revenue of 7.047 billion yuan, a year-on-year decrease of 14.73%, but net profit attributable to shareholders surged by 315.38% to 289 million yuan [2] - For the first three quarters of 2024, the company achieved a total revenue of 20.142 billion yuan, down 15.83% year-on-year, but net profit attributable to shareholders increased by 114.69% to 133 million yuan [2] - The company's pig farming segment generated a profit of 200-250 million yuan in the first three quarters of 2024, with a slight increase in piglet costs but overall cost improvements [2] Business Segments - **Feed Business**: The company sold 3.9 million tons of feed in the first three quarters of 2024, a 9.30% year-on-year decrease, with pig feed sales dropping by 10.29% to 3.05 million tons [2] - **Pig Farming**: The company's pig inventory exceeded 4 million heads by the end of September 2024, with a target of 6 million heads for the full year [2] - **Seed Business**: The company sold over 20 million kilograms of seeds in the first three quarters of 2024, a 50% year-on-year increase, with contract liabilities for seed business reaching nearly 1.4 billion yuan [2] Future Projections - The company is expected to achieve net profits of 368 million yuan, 828.78 million yuan, and 1.07476 billion yuan in 2024, 2025, and 2026, respectively [2] - Earnings per share (EPS) are projected to be 0.09 yuan, 0.18 yuan, and 0.24 yuan for 2024, 2025, and 2026, respectively [2] - The price-to-earnings (PE) ratio is forecasted to be 55, 27, and 21 times for 2024, 2025, and 2026, respectively [2] Market Data - The company's 52-week stock price range is between 3.75 yuan and 7.35 yuan, with a total market capitalization of 21.229 billion yuan [4] - The company's total shares outstanding are 432.372 million, with all shares being tradable A-shares [4]

证券代码：002385 证券简称：大北农 公告编号：2024-123 北京大北农科技集团股份有限公司 2024 年第八次临时股东大会决议公告 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： 1.本次股东大会未出现否决提案的情形； 2.本次股东大会不涉及变更以往股东大会已通过的决议。 ①通过深圳证券交易所（以下简称"深交所"）交易系统进行网络投票的具 体时间为：2024 年 11 月 7 日 9:15—9:25，9:30—11:30 和 13:00—15:00； ②通过互联网投票系统（http://wltp.cninfo.com.cn）投票的具体时间为：2024 年 11 月 7 日上午 09:15 至下午 15:00 期间的任意时间。 2.现场会议召开地点：北京市海淀区苏家坨镇澄湾街 19 号院大北农凤凰国 际创新园行政楼 104 会议室 3.会议召开方式：采取现场投票与网络投票相结合的方式 4.会议召集人：公司第六届董事会 5.会议主持人：公司董事长邵根伙先生 一、会议召开和出席情况 （一）会议召开情况 1.会议召开时间 (1)现场会议召开时间： ...

北京市天元律师事务所 关于北京大北农科技集团股份有限公司 2024 年第八次临时股东大会的法律意见 京天股字（2024）第 603 号 致：北京大北农科技集团股份有限公司 北京大北农科技集团股份有限公司（以下简称"公司"）2024 年第八次临时 股东大会（以下简称"本次股东大会"）采取现场投票与网络投票相结合的方式， 现场会议于 2024 年 11 月 7 日 14:30 在北京市海淀区澄湾街 19 号院大北农凤凰 国际创新园行政楼 104 会议室召开。北京市天元律师事务所（以下简称"本所"） 接受公司聘任，指派本所律师参加本次股东大会现场会议，并根据《中华人民共 和国公司法》、《中华人民共和国证券法》（以下简称"《证券法》"）、《上 市公司股东大会规则》（以下简称"《股东大会规则》"）以及《北京大北农科 技集团股份有限公司章程》（以下简称"《公司章程》"）等有关规定，就本次 股东大会的召集、召开程序、出席现场会议人员的资格、召集人资格、会议表决 程序及表决结果等事项出具本法律意见。 为出具本法律意见，本所律师审查了《北京大北农科技集团股份有限公司第 六届董事会第二十三次（临时）会议决议公告》《北京大北农科技 ...

北京大北农科技集团股份有限公司 2024年10月份生猪销售情况简报 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、2024年 10月份生猪销售情况 公司控股及参股公司生猪销售数量当月合计为 65.21 万头，1-10 月累计为 492.85 万 头；销售收入当月合计为 12.95 亿元，1-10 月累计为 91.03 亿元；公司控股及参股公司 商品肥猪当月均价为 17.35元/公斤。公司控股及参股公司销售情况如下： 1、2024 年 10月控股公司生猪销售数量为 31.68万头，销售收入 5.70亿元。其中销 售数量环比增长 12.82%，同比增长 8.90%；销售收入环比增长-1.21%，同比增长 26.11%； 商品肥猪出栏均重 127.50公斤，销售均价 17.48元/公斤。 2024 年 1-10 月，控股公司累计销售生猪 282.68 万头，同比增长-2.22%。累计销售 收入 48.68亿元，同比增长 5.83%。 证券代码：002385 证券简称：大北农 公告编号：2024-122 2、2024 年 10月参股公司生猪销售数量为 33.53 ...

Company Performance - The company's recent cost for fattening pigs is approximately 14.7 yuan/kg, showing a significant decrease compared to last year but only a slight increase of 0.1 yuan/kg compared to July [1] - The increase in cost is mainly due to the purchase of external piglets, which slightly raised the cost for recently slaughtered pigs, along with a slight increase in breeding fees [1] - Other costs such as feed and veterinary vaccines have decreased, with veterinary vaccines showing a smaller decline [1] - Fixed period costs have decreased by about 0.3 yuan due to increased slaughter volume [1] Production and Health - The health condition of the pigs is good, with improvements in various production indicators [1] - Previous production indicators were affected by idle capacity and insufficient biosecurity conditions in some regions, but these are gradually improving [1] Future Cost Reduction - There is significant potential for future cost reduction as production conditions continue to improve [1]

Financial Overview - In the first three quarters of 2024, the company achieved a total revenue of CNY 20.142 billion, with a net profit of CNY 133 million, marking a year-on-year increase of approximately 115% [2] - Overall revenue decreased by 15.8% compared to the previous year, with feed product revenue exceeding CNY 14 billion, accounting for about 70% of total revenue [2] - In Q3 2024, the company reported revenue of CNY 7.05 billion, a year-on-year decline of 14.7% [2] Profitability - The net profit for Q3 2024 reached CNY 289 million, a year-on-year increase of 315% [2] - The feed segment generated a profit of CNY 500-600 million, while the pig farming segment contributed CNY 200-250 million in profit [2] - The seed segment incurred a loss of over CNY 100 million due to seasonal factors affecting sales [2] Business Segment Performance Feed Segment - Total feed sales reached approximately 5.14 million tons in the first three quarters, with external sales around 3.9 million tons [3] - In Q3 2024, external feed sales were about 1.37 million tons, showing a quarter-on-quarter growth of over 9% [3] Pig Farming Segment - The total number of pigs sold in the first three quarters was 4.28 million, a year-on-year increase of approximately 2.8% [3] - The average selling price of fattened pigs was CNY 16.43 per kg, an increase of CNY 1.76 per kg compared to the previous year [3] Seed Segment - Revenue from conventional seed sales was CNY 283 million, with rice seed sales exceeding CNY 200 million, reflecting a year-on-year growth of 35% [3] - Seed sales volume exceeded 20 million kg, with rice seed sales growing by 110% year-on-year [3] Cost Management and Future Outlook - The complete cost of pig farming is approximately CNY 14.7 per kg, showing a significant decrease compared to the previous year [5] - The company aims to optimize operational efficiency and reduce costs further, with a target of 10 million tons in feed sales in the medium term [4] - The company plans to enhance its breeding and supply chain systems to improve profitability in pig farming [5] Research and Development - The company is focusing on developing high-yield, disease-resistant corn and rice varieties, with 23 new rice varieties and 22 new corn varieties approved for national examination in 2024 [6] - The company has established a strong foundation in its seed industry, with ongoing efforts in biotechnology and traditional breeding [6] Dividend Policy - The profit distribution plan for the first three quarters of 2024 includes a cash dividend of CNY 0.58 per 10 shares, totaling CNY 249 million [6] - The company has a history of consistent cash dividends since its listing, with a total of CNY 3.94 billion distributed to date [6]

Investment Rating - The report maintains a "Buy" rating for the company, with a target price of 4.62 RMB [5] Core Views - The company achieved a turnaround in the first three quarters of 2024, with a net profit of 133 million RMB, a year-on-year increase of 114.69% [1] - The company's gross margin improved to 14.09%, up 4.68 percentage points year-on-year [1] - The company's pig breeding business showed strong performance in Q3 2024, with pig sales revenue reaching 3.18 billion RMB, a year-on-year increase of 34.7% [2] - The company's seed business is expected to become a new growth driver, with a projected increase in corn seed planting area of 15-20% in the 2024 planting season [3] Financial Performance - In Q3 2024, the company's revenue was 7.047 billion RMB, a year-on-year decrease of 14.73%, but a quarter-on-quarter increase of 10.33% [2] - The company's net profit in Q3 2024 was 289 million RMB, a year-on-year increase of 315.37% and a quarter-on-quarter increase of 440.31% [2] - The company's gross margin in Q3 2024 was 15.92%, up 5.07 percentage points year-on-year [2] - The company's contract liabilities increased by 730 million RMB in Q3 2024, reflecting strong seed pre-sales [3] Business Segments - Pig Breeding: The company's pig sales volume in Q3 2024 was 1.428 million heads, with a sales revenue of 3.18 billion RMB [2] - Feed: The company's feed sales volume in the first half of 2024 was 2.534 million tons, with a gross margin of 12.7% [2] - Seed: The company has obtained safety certificates for four genetically modified corn traits, with a licensing fee of 8-10 RMB per mu [3] Future Outlook - The company's revenue is expected to reach 33.082 billion RMB in 2024, 38.848 billion RMB in 2025, and 44.594 billion RMB in 2026 [3] - The company's net profit is expected to be 252.49 million RMB in 2024, 1.059 billion RMB in 2025, and 1.239 billion RMB in 2026 [3] - The company's genetically modified technology is leading, and the seed business is expected to become a new growth driver [3]

证券代码：002385 证券简称：大北农 公告编号：2024-120 北京大北农科技集团股份有限公司 2024 年第七次临时股东大会决议公告 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： 1.本次股东大会未出现否决提案的情形； 2.本次股东大会不涉及变更以往股东大会已通过的决议。 一、会议召开和出席情况 （一）会议召开情况 ①通过深圳证券交易所（以下简称"深交所"）交易系统进行网络投票的具 体时间为：2024 年 10 月 23 日 9:15—9:25，9:30—11:30 和 13:00—15:00； ②通过互联网投票系统（http://wltp.cninfo.com.cn）投票的具体时间为：2024 年 10 月 23 日上午 09:15 至下午 15:00 期间的任意时间。 2.现场会议召开地点：北京市海淀区苏家坨镇澄湾街 19 号院大北农凤凰国 际创新园行政楼 104 会议室 3.会议召开方式：采取现场投票与网络投票相结合的方式 4.会议召集人：公司第六届董事会 5.会议主持人：公司董事长邵根伙先生 1.会议召开时间 (1)现场会议召开时 ...

北京市天元律师事务所 关于北京大北农科技集团股份有限公司 2024 年第七次临时股东大会的法律意见 本所及经办律师同意将本法律意见作为本次股东大会公告的法定文件，随同 其他公告文件一并提交深圳证券交易所（以下简称"深交所"）予以审核公告， 并依法对出具的法律意见承担责任。 本所律师按照律师行业公认的业务标准、道德规范和勤勉尽责精神，对公司提 供的文件和有关事实进行了核查和验证，现出具法律意见如下： 一、本次股东大会的召集、召开程序 公司第六届董事会于 2024 年 9 月 29 日召开第二十二次（临时）会议作出决 议召集本次股东大会，并于 2024 年 10 月 8 日通过指定信息披露媒体发出了《召 开股东大会通知》，该通知文件中载明了召开本次股东大会的时间、地点、审议 事项、投票方式和出席会议对象等内容。 京天股字（2024）第 577 号 致：北京大北农科技集团股份有限公司 北京大北农科技集团股份有限公司（以下简称"公司"）2024 年第七次临时 股东大会（以下简称"本次股东大会"）采取现场投票与网络投票相结合的方式， 现场会议于 2024 年 10 月 23 日 14:30 在北京市海淀区澄湾街 19 ...