Group 1 - The China Securities Regulatory Commission (CSRC) is accelerating the new round of capital market reform and opening up to better serve the economy's continuous recovery [1][2] - The People's Bank of China announced adjustments to the 14-day reverse repurchase operations to maintain ample liquidity in the banking system [2] - The State Administration of Foreign Exchange reported that in August, China's foreign exchange market operated smoothly, with a net inflow of cross-border funds of 3.2 billion USD [2] Group 2 - The Ministry of Transport has issued a plan for building high-quality data sets in the transportation sector, focusing on various business areas including infrastructure and green low-carbon initiatives [3] - The China Financial Futures Exchange announced the listing of several stock index futures and options contracts on September 22, 2025, with specific benchmark prices set for each contract [4] - The Shanghai Stock Exchange has optimized the bond repurchase business, allowing for repurchase under certain market conditions to stabilize market fluctuations [4] Group 3 - The Ministry of Commerce reported that from January to August 2025, the number of newly established foreign-invested enterprises increased by 14.8%, while the actual use of foreign capital decreased by 12.7% [5] - Tianpu Co., Ltd. has experienced a stock price increase for 13 consecutive trading days, raising significant trading risks and deviating from the company's fundamentals [6] - Zhongke Tongda announced the termination of a major asset restructuring plan due to failure to reach agreement on core terms with the counterparty [6] Group 4 - Xibu Materials announced a major asset restructuring plan for its subsidiary, with stock suspension starting September 22 [6] - Qixin Group's controlling shareholder plans to transfer 36.07 million shares, reducing its stake in the company [7] - Santong Cable's controlling shareholder has increased its stake to become the largest shareholder after a series of stock transactions [8] Group 5 - Longda Food has decided to abandon the acquisition of a stake in a subsidiary due to high debt levels and a focus on its core food business [9] - Baoli International's board approved an investment in semiconductor testing equipment, reflecting confidence in the industry [10] - CITIC Securities reported that Hong Kong stocks showed signs of recovery in the first half of the year, with positive growth in net profit margins and return on equity [10]

Core Viewpoint - The recent surge in stock prices of pre-prepared food companies in A-shares is attributed to the upcoming national food safety standards for pre-prepared dishes, which will provide a unified identity and safety baseline for the industry [12][13]. Industry Overview - The pre-prepared food industry in China has a history dating back to the 1990s, with significant developments occurring between 2000 and 2005 when many current leading companies were established [13]. - Regulatory frameworks for pre-prepared foods have only begun to take shape in recent years, with standards being introduced by various governmental bodies [13][14]. Market Dynamics - The stock prices of companies such as Deli Foods, Longda Food, and Huifa Foods have seen increases of over 5%, with Deli Foods hitting a 10.10% rise [7][11]. - The rise in stock prices is linked to the public's renewed interest in the pre-prepared food debate, sparked by recent comments from industry figures [12]. Consumer Perception - There is a disconnect between the regulatory definition of pre-prepared foods and consumer understanding, leading to concerns about food safety and transparency [14]. - Consumers express frustration over the lack of knowledge regarding the preparation of their meals, reflecting a deeper societal issue of time constraints and the desire for authentic dining experiences [14][17]. Operational Trends - The adoption of pre-prepared foods is becoming widespread among restaurants, as they are more cost-effective than hiring chefs and allow for a diverse menu without extensive culinary skills [16]. - The rise of central kitchens and cold chain logistics post-2008 has facilitated the expansion of pre-prepared foods, standardizing offerings across various dining establishments [16].

Group 1 - The company, Longda Food, announced on September 19 that it will not exercise the right to lower the conversion price of its convertible bonds, known as "Longda Convertible Bonds" [2] - The board of directors decided that for one month, from September 20, 2025, to October 19, 2025, it will not propose any downward adjustment to the conversion price even if the conditions are triggered [2] - Starting from October 20, 2025, if the conditions for downward adjustment are triggered again, the company will follow the relevant procedures to decide whether to exercise the right to adjust the conversion price [2]

Core Viewpoint - Longda Food has decided to abandon the acquisition of Wucang Agricultural Group due to high debt levels, industry uncertainties, and the company's current financial situation, which does not support the acquisition [1][2][3] Group 1: Acquisition Decision - Longda Food announced the abandonment of the acquisition of Wucang Agricultural Group, citing a focus on its core food business and the high debt ratio of Wucang Agricultural [1] - The decision was influenced by the need to avoid increasing the company's debt burden, as it had already planned to develop pig farming projects in Shandong [1][2] - Wucang Agricultural Group has a high asset-liability ratio of 98.73%, with total borrowings around 1.95 billion and cash reserves of only 3.89 million, posing significant repayment risks [2][3] Group 2: Financial Performance - Longda Food's revenue for the first half of the year was 4.97 billion, a year-on-year decrease of 1.4%, while net profit dropped by 39.5% to 35.17 million [3] - The company has approximately 9.73 billion in cash and interest-bearing liabilities of about 3.22 billion, with short-term debt making up 57.72% of the total [3] - The company faces repayment pressure due to the large scale of short-term borrowings and liabilities due within one year, making it unable to finance the acquisition [3] Group 3: Strategic Focus - Since 2021, Longda Food has been actively seeking strategic transformation to mitigate the impact of industry cycles, focusing on a "one body, two wings" development strategy [2] - The company aims to ensure raw material cost control and meet traceability requirements for major clients through its pig farming business [2] - The decision to abandon the acquisition allows Longda Food to maintain stable cash flow and financial health while concentrating on refined operations in its core food business [3]

Core Viewpoint - The company has decided to abandon the acquisition of a stake in Wucang Agricultural and Animal Husbandry Group Co., Ltd., which is held by its controlling shareholder, Lanrun Development Holdings Group Co., Ltd. This decision is aimed at maintaining financial stability and avoiding high capital expenditures and potential integration risks [1] Group 1 - The company will hold its sixth board meeting on September 19, 2025, to review the proposal to abandon the acquisition [1] - The abandonment of the acquisition will not have a significant adverse impact on the company's business in the Southwest region [1] - This decision is beneficial for maintaining stable cash flow and financial health [1]

Group 1 - The company Longda Food announced the convening of its sixth fifth board meeting on September 19, 2025, to discuss the proposal for the second extraordinary shareholders' meeting of 2025 [1] - For the first half of 2025, Longda Food's revenue composition was as follows: 81.87% from the slaughtering industry, 17.42% from the food industry, and 0.71% from other sources [1] - As of the report date, Longda Food's market capitalization was 6.2 billion yuan [1]

Core Viewpoint - Longda Food (002726.SZ) has decided to abandon the acquisition of Wuchang Agricultural Group Co., Ltd., which is a related party transaction, reflecting the company's cautious management approach and aligning with its current operational realities [1] Group 1: Acquisition Decision - The company has approved the proposal to abandon the acquisition of Wuchang Agricultural Group's equity held by its controlling shareholder, Lanrun Development Holdings Group [1] - The decision requires submission to the shareholders' meeting for approval, with the controlling shareholder needing to abstain from voting [1] Group 2: Business Impact - The abandonment of the acquisition is not expected to have a significant adverse impact on the company's established business in the Southwest region [1] - The company has been enhancing supply chain cooperation and optimizing procurement strategies to ensure business stability [1] Group 3: Financial Considerations - By avoiding high capital expenditure and potential integration risks, the company aims to maintain stable cash flow and financial health [1] - The decision allows the company to focus more on refined operations in its core food business, reducing the impact of the cyclical nature of the pig farming industry [1] - This strategic choice provides flexibility for future sustainable development [1]

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。 特别提示： | 证券代码：002726 | 证券简称：龙大美食 | 公告编号：2025-078 | | --- | --- | --- | | 债券代码：128119 | 债券简称：龙大转债 | | 山东龙大美食股份有限公司 关于不向下修正"龙大转债"转股价格的公告 1、自 2025 年 9 月 8 日至 2025 年 9 月 19 日，山东龙大美食股份有限公司 （以下简称"公司"）股票已有十个交易日的收盘价低于可转换公司债券（以 下简称"可转债"）当期转股价格的 90%（即 8.37 元/股）的情形，已触发转股 价格修正条款。 2、2025 年 9 月 19 日，公司召开第六届董事会第五次会议审议通过了《关 于不向下修正可转换公司债券转股价格的议案》，董事会决定本次不行使"龙 大转债"转股价格向下修正的权利，同时未来一个月内（即 2025 年 9 月 20 日 至 2025 年 10 月 19 日）如再次触发转股价格向下修正条款，亦不提出向下修正 方案。从 2025 年 10 月 20 日开始重新起算，若再次触 ...

中信证券股份有限公司关于山东龙大美食股份公司 部分募投项目再次延期并重新论证的核查意见 中信证券股份有限公司（以下简称"中信证券"或"保荐人"）作为山东龙 大美食股份有限公司（以下简称"龙大美食"或"公司"）2021 年非公开发行股 票的保荐人，承接龙大美食 2020 年公开发行可转换公司债券的持续督导工作， 法定持续督导期截止至 2022 年 12 月 31 日。因龙大美食的募集资金尚未使用完 毕，保荐人仍需对公司募集资金的使用和管理继续履行督导义务。 根据《证券发行上市保荐业务管理办法（2025 修正）》《上市公司募集资金 监管规则》《深圳证券交易所上市公司自律监管指引第 1 号——主板上市公司规 范运作（2025 年修订）》等有关规定的要求，对公司部分募集资金投资项目再次 延期并重新论证的情况进行了核查，核查情况及意见如下： 一、募集资金基本情况 （一）可转换债券募集资金基本情况 经中国证券监督管理委员会（以下简称"中国证监会"）证监许可[2020]1077 号文核准，公司于 2020 年 7 月 13 日向社会公众公开发行的可转换公司债券（简 称"龙大转债"，债券代码为"128119"）规模为 95, ...

| 证券代码：002726 | 证券简称：龙大美食 | 公告编号：2025-075 | | --- | --- | --- | | 债券代码：128119 | 债券简称：龙大转债 | | 山东龙大美食股份有限公司 山东龙大美食股份有限公司（以下简称"公司"）于 2025 年 9 月 19 日召开 了第六届董事会第五次会议审议通过了《关于部分募投项目再次延期并重新论 证的议案》。同意在募投项目实施主体、募集资金投资用途及投资总额不变的 情况下，对募投项目"安丘市石埠子镇新建年出栏 50 万头商品猪项目"和"山 东新建年出栏生猪 66 万头养殖项目"达到预计可使用状态的日期延长至 2026 年 8 月 31 日。本次募投项目延期事项在董事会审批权限范围内，无需提交公司 股东会审议。现将具体情况公告如下： 一、募集资金基本情况 1、可转换债券募集资金基本情况 经中国证券监督管理委员会（以下简称"中国证监会"）证监许可[2020]1077 号文核准，公司于 2020 年 7 月 13 日向社会公众公开发行的可转换公司债券 （简称"龙大转债"，债券代码为"128119"）规模为 95,000 万元，每张面值为人 民 币 ...