Group 1 - The chairman of Yantai Shuangta Food Co., Ltd., Yang Junmin, has pledged part of his shares, which is unrelated to the company's operational needs [1][2] - After the pledge, Yang Junmin has a total of 53 million shares due within six months, accounting for 35.06% of his holdings and 4.30% of the company's total share capital, with a corresponding financing balance of 90 million yuan [1] - Within one year, the total number of pledged shares (including those due in six months) will reach 74.8 million shares, representing 49.48% of his holdings and 6.06% of the company's total share capital, with a financing balance of 140 million yuan [1] Group 2 - Yang Junmin does not have any non-operating fund occupation or illegal guarantees that would harm the interests of the listed company [2] - As of the date of the announcement, the share pledge does not have a substantial impact on the company's operations or governance, nor does it involve performance compensation obligations, and there is no risk of forced liquidation [2] Group 3 - The company has prepared documents for review, including the stock pledge repurchase transaction application and detailed data on share pledge freezes from China Securities Depository and Clearing Corporation [3]

Group 1 - The core point of the news is that Yang Junmin has pledged 74.8 million shares of Shuangta Food, which accounts for 49.48% of his total holdings [1] - As of the announcement date, Shuangta Food's market capitalization is 7.1 billion yuan [3] - For the first half of 2025, Shuangta Food's revenue composition is entirely from the agricultural and sideline food processing industry, with a 100% share [2]

烟台双塔食品股份有限公司 证券代码：002481 证券简称：双塔食品 编号：2025-073 烟台双塔食品股份有限公司 | | 是否为控 | | 占其 | 占公 | | 是否 | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 股东 | 股股东或 | 本次质 | 所持 | 司总 | 是否 | 为补 | 质押起 | 质押到 | | 质押 | | | 第一大股 | 押股份 | 股份 | 股本 | 为限 | 充质 | 始日 | 期日 | 质权人 | 用途 | | 名称 | 东及其一 | 数量 | | | 售股 | | | | | | | | | | 比例 | 比例 | | 押 | | | | | | | 致行动人 | | | | | | | | | | | 杨君 | 否 | 21,800 | 14.42 | 1.77% | 否 | 否 | 2025.10 | 2026.10 | 中国中金 财富证券 | 融资 | | 敏 | | ,000 | % | | | | .24 | .23 | | 借款 | | | | ...

Core Insights - The agricultural processing sector experienced a decline of 0.85% on October 27, with Zunming Co. leading the drop [1] - The Shanghai Composite Index closed at 3996.94, up 1.18%, while the Shenzhen Component Index closed at 13489.4, up 1.51% [1] Agricultural Processing Sector Performance - Zunming Co. (stock code: 003030) closed at 21.10, down 4.70% with a trading volume of 137,200 shares and a transaction value of 281 million yuan [2] - Other notable declines included: - Morning Light Bio (stock code: 300138) down 3.47% to 13.91 with a transaction value of 426 million yuan [2] - ST Jiawo (stock code: 300268) down 3.40% to 10.80 with a transaction value of 30.87 million yuan [2] - Conversely, several companies in the sector saw gains, including: - Caoshu Co. (stock code: 603182) up 3.43% to 15.36 with a transaction value of 89.51 million yuan [1] - Suobao Protein (stock code: 603231) up 3.27% to 19.92 with a transaction value of 187 million yuan [1] Capital Flow Analysis - The agricultural processing sector saw a net inflow of 9.75 million yuan from institutional investors, while retail investors experienced a net outflow of 55.87 million yuan [2][3] - Key stocks with significant capital flow include: - Morning Light Bio with a net outflow of 43.16 million yuan from institutional investors [3] - Suobao Protein with a net inflow of 21.55 million yuan from institutional investors [3] - Zunming Co. with a net inflow of 15.37 million yuan from institutional investors but a net outflow of 44.20 million yuan from retail investors [3]

Core Viewpoint - The announcement details the release of a portion of shares pledged by the chairman of Shuangta Food, indicating a potential positive signal regarding the company's financial health and governance [1]. Group 1: Share Pledge Release - The chairman, Yang Junmin, has notified the company about the release of part of his pledged shares [1]. - Specific details regarding the release of the pledge and the total amount of shares involved were not disclosed in the announcement [1]. Group 2: Shareholder Pledge Situation - The announcement includes a summary of the cumulative pledge situation of the shareholders, although specific figures are not provided [1]. - The company has made available documents related to the stock pledge repurchase application and details from the China Securities Depository and Clearing Corporation [1].

Core Viewpoint - The company, Shuangta Food, announced the release of a portion of shares held by its chairman, Yang Junmin, indicating a potential shift in shareholder confidence and liquidity in the market [2] Group 1 - The company received notification from its chairman regarding the release of share pledges [2] - A total of 17,000,000 shares were released from pledge [2]

Core Viewpoint - The financial performance of Shuangta Food in Q3 2025 shows significant pressure, with a notable decline in revenue and a substantial net loss compared to the previous year [1][2]. Financial Performance Summary - In Q3 2025, Shuangta Food reported a revenue of 469 million yuan, a year-on-year decrease of 33.66% [1]. - The net profit attributable to shareholders was -19.92 million yuan, reflecting a year-on-year decline of 319.92% [1]. - For the first nine months of 2025, total revenue was 1.516 billion yuan, down 10.45% year-on-year, and net profit was 34.44 million yuan, a decrease of 45.27% [1]. External Factors Impacting Performance - The change in external trade environment significantly affected performance, particularly due to the EU's anti-dumping investigation into Chinese high-protein pea protein, a core product of the company [2]. - The company's overseas revenue contribution was substantial, with 483 million yuan from international markets in H1 2025, accounting for 46.11% of total revenue [2]. - The EU market share increased from 3.92% in 2024 to 6.48% in H1 2025, but the anti-dumping investigation poses uncertainty for future growth [2]. Internal Operational Challenges - Internal pressures also contributed to the decline in profitability, with asset impairment losses increasing by 40.42% due to rising starch inventory [3]. - Sales expenses rose by 36.19%, primarily due to increased costs associated with order meetings [3]. - Despite reductions in management and financial expenses, the growth in asset impairment and sales costs exerted pressure on net profit [3]. Strategic Responses - In response to current challenges, the company is intensifying its domestic market efforts, achieving a 15.63% increase in domestic sales revenue in H1 2025 [3]. - The company is also constructing a factory in Thailand to leverage Southeast Asia's advantages and mitigate trade barriers [3]. - A special task force has been established to address the EU anti-dumping investigation, including hiring professional legal teams [3]. Industry Context and Future Outlook - The performance of Shuangta Food reflects the common challenges faced by export-dependent plant protein companies in the current global trade environment [4]. - The transition from "export processing" to "domestic brand operation" will take time and may not immediately compensate for lost overseas revenue [4]. - The success of domestic market expansion and overseas capacity building will be crucial for the company to overcome current pressures and achieve stable growth in the long term [4].

Core Insights - The agricultural processing sector experienced a decline of 1.03% on October 24, with Shuangta Food leading the drop [1] - The Shanghai Composite Index closed at 3950.31, up 0.71%, while the Shenzhen Component Index closed at 13289.18, up 2.02% [1] Agricultural Processing Sector Performance - Zunming Co. saw a significant increase of 9.99% in its closing price at 22.14, with a trading volume of 43,700 shares and a transaction value of 95.55 million yuan [1] - ST Jiawo and ST Zhongji also reported gains of 3.90% and 1.80%, respectively [1] - In contrast, Shuangta Food's stock price fell by 6.87% to 5.83, with a trading volume of 978,300 shares and a transaction value of 580 million yuan [2] Capital Flow Analysis - The agricultural processing sector experienced a net outflow of 54.07 million yuan from main funds, while speculative funds saw a net inflow of 102 million yuan [2] - Retail investors contributed to a net outflow of 48.13 million yuan [2] Individual Stock Capital Flow - Deep Root Holdings had a main fund net outflow of 20.39 million yuan, with a speculative fund net inflow of 20.57 million yuan [3] - Zunming Co. recorded a main fund net inflow of 8.74 million yuan, while speculative funds saw a net outflow of 4.14 million yuan [3] - ST Jiawo had a main fund net inflow of 1.94 million yuan, with a speculative fund net outflow of 1.83 million yuan [3]

关于董事长部分股份解除质押的公告 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。 烟台双塔食品股份有限公司（以下简称"双塔食品"或"公司"）近日接到董 事长杨君敏先生通知，获悉其持有公司的部分股份办理了解除质押，具体事项如下： 一、本次解除质押基本情况 | | 是否为控 | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | 股股东或 | 本次解除 | 占其所 | 占公司 | 是否 | | | | | 股东名称 | 第一大股 | 质押股份 | 持股份 | 总股本 | 为限 | 起始日期 | 解除日期 | 质权人 | | | 东及其一 | 数量 | 比例 | 比例 | 售股 | | | | | | 致行动人 | | | | | | | | | 杨君敏 | 否 | 17,000,000 | 11.25% | 1.38% | 否 | 2023.6.20 | 2025.10.23 | 中国中金财 富证券有限 | | | | | | | | | | 公司 | 二、股东股份累计 ...

Core Viewpoint - The announcement from Shuangta Food indicates that Chairman Yang Junmin has released part of his pledged shares, which may reflect confidence in the company's future performance and financial stability [1] Summary by Relevant Sections Share Pledge Details - Yang Junmin has released 17 million shares from pledge, accounting for 11.25% of his total holdings and 1.38% of the company's total share capital [1] - The initial pledge date was June 20, 2023, and the release date is set for October 23, 2025 [1] - The pledge was made to China International Capital Corporation Wealth Securities Co., Ltd [1] Current Shareholding Status - Yang Junmin holds a total of 151 million shares, representing 12.25% of the company [1] - A total of 53 million shares are currently pledged, which is 35.06% of his holdings and 4.30% of the company's total share capital [1]