格隆汇9月8日丨克明食品(002661.SZ)公布，兴疆牧歌2025年8月份销售生猪3.96万头，销量环比下降 5.58%，同比增长204.06%；销售收入3,319.18万元，销售收入环比下降6.72%，同比增长97.29%。2025 年1-8月，公司累计销售生猪37.88万头，较去年同期增长39.79%；累计销售收入39,792.12万元，较去年 同期增长21.53%。 ...

2025年8月生猪销售简报 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、 误导性陈述或重大遗漏。 陈克明食品股份有限公司（以下简称"公司"）控股子公司阿克苏兴疆牧歌 食品股份有限公司（以下简称"兴疆牧歌"）经营范围包括畜禽养殖业务，现公 司就每月畜禽销售情况进行披露，具体内容如下： 证券代码：002661 证券简称：克明食品 公告编号：2025-083 陈克明食品股份有限公司 2025 年 8 月生猪销售数量和收入同比增长，主要系产能释放所致。 三、风险提示 1、上述销售情况只代表兴疆牧歌生猪养殖业务销售情况，公司其他业务板 块的经营情况不包括在内。 2、生猪市场价格波动的风险是整个生猪生产行业的系统风险，对任何一家 生猪生产者来说，都是客观存在的、不可控制的外部风险。生猪市场价格的大幅 波动，可能会对公司的经营业绩产生重大影响。 一、2025 年 8 月生猪销售情况 兴疆牧歌 2025 年 8 月份销售生猪 3.96 万头，销量环比下降 5.58%，同比增 长 204.06%；销售收入 3,319.18 万元，销售收入环比下降 6.72%，同比增长 97.29%。 2025 年 ...

（文章来源：证券日报） 证券日报网讯 9月5日晚间，克明食品发布公告称，公司及子公司未发生逾期担保。 ...

Summary of Key Points Core Viewpoint - The company, Chen Keming Food Co., Ltd., has disclosed its guarantee situation, indicating a total guarantee amount of 1.3845615 billion yuan, which accounts for 56.83% of the company's latest audited net assets. The company emphasizes that it effectively controls financial risks associated with these guarantees [1][2]. Group 1: Guarantee Overview - The company has approved a total guarantee limit of up to 3.2 billion yuan for the year 2025, which includes guarantees for subsidiaries and mutual guarantees among subsidiaries [1]. - The guarantee period is valid for 12 months from the date of approval by the shareholders' meeting [1]. - The guarantees cover various financing activities, including bank loans and factoring, and may include joint liability guarantees [1]. Group 2: Guarantee Progress - As of the announcement date, the company has provided guarantees to several subsidiaries, with a total guarantee amount of 1.3845615 billion yuan [2]. - The company has not reported any overdue guarantees or guarantees involved in litigation that could lead to losses [2]. - The company maintains effective control over the management and financial operations of the guaranteed entities [1][2]. Group 3: Basic Information of Guaranteed Entities - The guaranteed entities include various subsidiaries engaged in noodle production and food processing, with registered capital and operational details provided in the attachment [2][3]. - None of the guaranteed entities are listed as dishonest executors [3].

证券代码：002661 证券简称：克明食品 公告编号：2025-082 陈克明食品股份有限公司 关于公司及子公司之间互相提供担保的进展公告 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、 误导性陈述或重大遗漏。 重要内容提示： 1、截至 2025 年 8 月 31 日，陈克明食品股份有限公司（以下简称"公司"） 及子公司之间互相担保的余额为 138,456.15 万元，占公司最近一期经审计净资产 的比例为 56.83%，其中为资产负债率 70%以上的子公司提供担保的余额为 23,201.99 万元，为资产负债率 70%以下的子公司提供担保的余额为 115,254.16 万元。公司对被担保对象在经营管理、财务、投资、融资等方面均能有效控制， 财务风险处于公司有效的控制范围内，敬请投资者充分关注担保风险。 2、公司及子公司未对合并报表范围外主体提供担保。 3、公司及子公司未发生逾期担保。 | 14 | 徽县兴疆牧歌养殖有限 | 46.08% | 12,000.00 | 419.44 | 6,904.69 | 反担保 | | --- | --- | --- | --- | --- | -- ...

Core Insights - The company is facing challenges with declining revenue and sales due to decreased market demand [1] - The company is actively responding to health trends by expanding the use of buckwheat and whole wheat flour in its products [1] - The company aims to strengthen its high-end noodle product line while ensuring quality and reducing costs [1] - The company is exploring new distribution channels, including C-class small stores, wholesale markets, and catering services [1] - The company is implementing measures to reduce costs in its pig farming segment, focusing on health management and feed optimization [1] Revenue and Sales - The company reported a decline in sales primarily attributed to a decrease in market demand [1] Product Development - The company is expanding the application of buckwheat and whole wheat flour in response to health dietary trends [1] - The company is committed to enhancing the quality and cost-effectiveness of its high-end noodle products [1] Competitive Strategy - The company is conducting in-depth research on factors affecting the taste of its soft and elastic noodles to establish competitive barriers [1] Distribution Channels - The company is consolidating its existing advantageous channels while actively expanding into new markets such as wholesale and catering [1] Cost Management - The company is implementing several key measures to lower costs in its pig farming operations, including health management and feed optimization [1]

Market Overview - The Shanghai Composite Index is at 3757.36 points, with a decline of 1.47% and total A-share trading volume of 20349.66 billion yuan [1] - As of now, 73 A-shares have surpassed their annual line, with notable stocks showing significant deviation rates [1] Notable Stocks - Stocks with the highest deviation rates include: - Aibulu (301259) with a deviation rate of 8.09% and a price increase of 10.22% [1] - Gongxiao Daji (000564) with a deviation rate of 8.06% and a price increase of 8.56% [1] - Shenglong Co. (603178) with a deviation rate of 6.11% and a price increase of 10.02% [1] - Other stocks with lower deviation rates that have just crossed the annual line include: - Weiguang Biological, Changjiang Electric Power, and Yunnan Tourism [1] Deviation Rate Rankings - The top stocks by deviation rate on September 4 include: - Aibulu (301259): Latest price 47.35 yuan, annual line 43.81 yuan [1] - Gongxiao Daji (000564): Latest price 2.79 yuan, annual line 2.58 yuan [1] - Shenglong Co. (603178): Latest price 20.54 yuan, annual line 19.36 yuan [1] - Additional stocks with notable performance include: - Wufangzhai (603237) with a deviation rate of 4.78% [1] - Yuanzhu Co. (603886) with a deviation rate of 3.50% [1]

Group 1 - The company announced the cancellation of 5.05 million stock options due to the departure of 6 incentive targets and unmet performance targets for the first exercise period [1][2] - The total number of incentive targets has been adjusted from 176 to 170, and the number of stock options granted but not yet exercisable has been reduced from 19.60 million to 14.55 million [2] - The cancellation of stock options will not affect the company's total share capital or share structure, and it does not harm the interests of shareholders, especially minority shareholders [2] Group 2 - The company received notification that all shares held by its controlling shareholder, Hunan Keming Food Group Co., Ltd., have been released from judicial freeze [4][6] - The release of the freeze was due to a retrial judgment by the Hunan Provincial High People's Court, which annulled previous judgments and eliminated the need to pay transfer fees or penalties [6] - The release of the shares will not impact the company's normal operations [6]

Core Points - The company has approved the cancellation of 5.05 million stock options due to the departure of 6 incentive targets and unmet performance goals for the first exercise period [1][2] - The cancellation of stock options will not affect the company's total share capital or share structure, ensuring no harm to the interests of all shareholders, especially minority shareholders [2] - Following the adjustments, the number of incentive targets for the 2024 stock option plan has been reduced from 176 to 170, and the number of stock options granted but not yet exercisable has been adjusted from 19.6 million to 14.55 million [2]

Revenue and Sales Issues - Company reported a 10.85% year-on-year decline in revenue, primarily due to decreased market demand. To address this, the company plans to expand the application of buckwheat flour and whole wheat flour in its products and focus on high-end noodle products while actively exploring new channels such as wholesale and catering [1] Cost Control in Pig Farming - The company is implementing measures to reduce costs in its pig farming segment, including enhancing health management, optimizing feed, and investing in breeding management. Some top-performing farms have achieved production costs below 12 yuan/kg [2] Kazakhstan Project Progress - The company has invested in two enterprises in Kazakhstan to support production and sales for its Xinjiang factory. Due to international environmental impacts, the Xinjiang factory was previously shut down. As production capacity increases, the Kazakhstan enterprises will expand their grain storage and trading operations [3] Cash Flow and Procurement Strategy - The net cash flow from operating activities increased by 240.32%, mainly due to a reduction in wheat procurement volume and prices. The company plans to monitor wheat price trends and replenish stocks at lower price points to reduce procurement costs [4] Profit and Government Subsidies - The company's net profit attributable to shareholders decreased year-on-year, primarily due to lower revenue and increased promotional expenses. Although government subsidies have decreased, they do not affect the stability of the company's profits. The company aims to enhance its internal profitability through product development, quality improvement, and channel expansion [5] Pig Farming Profitability - In the first half of 2025, the company achieved a net profit of 100.32 million yuan, with the pig farming segment contributing a net profit of 6.07 million yuan [6] High-End Noodle Market Position - In the first half of 2025, revenue from high-margin products accounted for over 55% of total revenue, indicating a stable position in the high-end noodle market [7] Synergy Between Food and Pig Farming Segments - The company's subsidiary, Akesu Xingjiang Muge Food Co., aims to become a creator of high-quality pork products in China, but currently, the food business accounts for 78.53% of total operations. Specific plans for synergy between the two segments have not been disclosed [8] Convenience Food Business Planning - The company currently offers non-fried instant noodles and cooked wet noodles, with plans to introduce frozen noodle products in the future [9] Financial and Subsidiary Asset Adjustments - The company has increased short-term borrowings to 1.052 billion yuan and long-term borrowings to 886 million yuan, with a debt-to-asset ratio of approximately 56.4%. Measures will be taken to reduce leverage through cost reduction and improved accounts receivable collection. The company will adjust its strategy regarding subsidiaries based on business performance, which may involve integration or divestment of underperforming assets [10] New Product Market Performance - Recently launched products such as children's nutritional noodles and organic noodles generated nearly 10 million yuan in revenue during the reporting period. Losses from new businesses like rice processing and fresh noodles have decreased year-on-year, with plans to optimize product structure and market layout [11]