与会独立董事就各项议案进行了审议、举手表决，形成决议如下： 山东龙大美食股份有限公司 独立董事专门会议 2025 年第三次会议文件 山东龙大美食股份有限公司 独立董事专门会议 2025 年第三次会议决议 山东龙大美食股份有限公司（以下简称"公司"）独立董事专门会议 2025 年第三次会议于 2025 年 9 月 19 日在公司会议室以现场与通讯表决相结合的方 式召开。会议通知已于 2025 年 9 月 14 日送达各位独立董事。本次会议应出独 立董事 3 人，实际独立董事 3 人，会议由召集人周婧女士主持。本次会议的召 集、召开程序符合《公司法》《上市公司独立董事管理办法》《独立董事专门会 议制度》等有关规定。 独立董事（签名）： 周婧 杨帆 余茂鑫 1、审议通过了《关于放弃收购五仓农牧集团有限公司股权的议案》 公司放弃收购五仓农牧股权是基于公司所在的行业环境和公司实际情况做 出的审慎决策，不会影响公司未来的发展规划，不会存在损害公司利益和股东 权益的情形。我们同意放弃本次收购，并同意提交公司董事会和股东会审议。 表决结果：同意 3 票，反对 0 票，弃权 0 票。 （本页无正文，为《山东龙大美食股份有限公司 ...

| 证券代码：002726 | 证券简称：龙大美食 | 公告编号：2025-076 | | --- | --- | --- | | 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 关于放弃收购五仓农牧集团有限公司股权的公告 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。 山东龙大美食股份有限公司（以下简称"公司"或"上市公司"）于 2025 年 9 月 19 日召开第六届董事会第五次会议，审议通过了《关于放弃收购五仓农 牧集团有限公司股权的议案》，同意公司放弃收购控股股东蓝润发展控股集团有 限公司（以下简称"控股股东"或"蓝润发展"）所持有的五仓农牧集团有限公 司股权（以下简称"五仓农牧"），本次放弃收购五仓农牧股权属于关联交易， 关联董事进行了回避表决。同时，该事项涉及控股股东及实际控制人关于同业竞 争相关承诺的履行，因此，需提交公司股东会审议，且控股股东蓝润发展需回避 表决。现将相关事项公告如下： 一、同业竞争形成过程 2019 年 6 月，蓝润发展通过协议收购公司股份成为公司控股股东，此时公 司主要业务集中在华东和华中等 ...

| 证券代码：002726 | 证券简称：龙大美食 | 公告编号：2025-077 | | --- | --- | --- | | 债券代码：128119 | 债券简称：龙大转债 | | 关于召开 2025 年第二次临时股东会的通知 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。 山东龙大美食股份有限公司（以下简称"公司"）于2025年9月19日召开公 司第六届董事会第五次会议，审议并表决通过了《关于召开2025年第二次临时 股东会的议案》，现将有关事项通知如下： 一、本次会议召开的基本情况 1、股东会届次：2025 年第二次临时股东会。 2、股东会的召集人：公司第六届董事会。 3、会议召开的合法、合规性：公司董事会认为本次股东会会议的召开符合 有关法律、行政法规、部门规章、规范性文件和《公司章程》的规定。 山东龙大美食股份有限公司 4、会议召开的日期、时间： （1）现场会议召开时间：2025 年 10 月 9 日（星期四）下午 2:45。 （2）网络投票时间：2025 年 10 月 9 日。 通过深圳证券交易所交易系统进行网络投票的具体时间为：2025 年 ...

| 证券代码：002726 | 证券简称：龙大美食 | 公告编号：2025-074 | | --- | --- | --- | | 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 第六届董事会第五次会议决议公告 二、会议审议情况 1、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》 具体内容详见公司同日在《中国证券报》《证券时报》《证券日报》《上海证 券报》和巨潮资讯网（www.cninfo.com.cn）披露的《山东龙大美食股份有限公 司关于部分募投项目再次延期并重新论证的公告》（公告编号 2025-075）。 表决结果：9 票同意，0 票反对，0 票弃权。 2、审议通过了《关于放弃收购五仓农牧集团有限公司股权的议案》 具体内容详见公司同日在《中国证券报》《证券时报》《证券日报》《上海证 券报》和巨潮资讯网（www.cninfo.com.cn）披露的《山东龙大美食股份有限公 司关于放弃收购五仓农牧集团有限公司股权的公告》（公告编号 2025-076）。 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。 一、会议召开情况 ...

Core Viewpoint - Longda Food (002726.SZ) reported a decline in revenue and net profit for the first half of 2025, indicating challenges in the pre-prepared food segment and overall market conditions [1][2]. Financial Performance - The company achieved a revenue of 4.975 billion yuan, a decrease of 1.38% year-on-year [2]. - Net profit attributable to shareholders was 35.169 million yuan, down 39.52% compared to the previous year [2]. - The net profit after deducting non-recurring gains and losses was 32.280 million yuan, reflecting a 42.15% decline [2]. - The net cash flow from operating activities was 113.388 million yuan, a significant drop of 48.81% [2]. - Basic earnings per share were 0.03 yuan, down 40% year-on-year, while diluted earnings per share were 0.05 yuan, a decrease of 28.57% [2]. - The weighted average return on equity was 2.61%, down from 4.34% in the previous year [2]. - Total assets at the end of the reporting period were 5.792 billion yuan, a decrease of 1.49% from the previous year [2]. - Net assets attributable to shareholders increased by 2.34% to 1.538 billion yuan [2]. Business Segment Analysis - Revenue from pre-prepared foods was 783 million yuan, a decline of 19.5% year-on-year [3]. - The overall food industry revenue was 866 million yuan, down 19.91% [3]. - The company stated that the decline in revenue was due to a strategic focus on optimizing product structure and reducing low-margin businesses [3][4]. - The overall gross margin for the pre-prepared food segment improved by 1.24% compared to the previous year [4]. - The company is focusing on high-margin products and has developed new products for both B-end and C-end customers, including customized offerings and seasonal products [4].

Core Insights - Longda Food, once favored by the capital market as a "pre-made food concept stock," is currently facing dual challenges of sluggish main business growth and obstacles in strategic transformation [1] - The company's H1 2025 report reveals a decline in both revenue and net profit, with total revenue at 4.975 billion yuan, down 1.38% year-on-year, and net profit attributable to shareholders at 35.1687 million yuan, down 39.52% year-on-year [1] Business Structure Challenges - Longda Food's core challenge lies in its imbalanced business structure, heavily reliant on the low-margin slaughtering business, which, despite its large revenue scale, contributes minimally to profits [2] - The pre-made food segment, positioned as a future growth engine, has faced significant revenue declines during the reporting period, indicating that the strategic transformation is more difficult than anticipated [2] - The pre-made food industry is characterized by intense competition, with a market landscape that shows insufficient consumer recognition despite policy support and capital empowerment [2] Financial Pressure and Debt Risks - The significant increase in financial expenses has further compressed the already limited profit margins, with interest burdens becoming a key factor dragging down overall performance [3] - The company faces notable short-term debt pressure, with a declining current ratio indicating weakened short-term solvency, thus increasing financial risk [3] - Longda Food exhibits a "high debt and high cash" phenomenon, raising questions about its financial management efficiency due to substantial short-term borrowings alongside considerable cash reserves [3] - The growing ratio of accounts receivable to revenue suggests a weakening ability to collect payments, increasing cash flow pressure [3] Strategic Responses - In response to current challenges, Longda Food is attempting various strategies, including controlling breeding scale, adjusting product structure, deepening processing business, and expanding new retail channels [3] - However, these measures have yet to reverse the declining performance, and the company must find more effective ways to enhance product competitiveness and market recognition in an increasingly competitive pre-made food industry [3]

经济观察网 猪肉股午后持续调整，邦基科技一度跌近9%，天域生物、牧原股份、龙大美食等跟跌。 ...

Group 1 - The A-share market for pork stocks has weakened, with several companies experiencing significant declines in their stock prices [1] - Bangji Technology saw a drop of over 8%, while Tianyu Biological fell over 6%, and Jinxinnong decreased by over 4% [1] - Other notable declines include Haida Group down over 3%, Longda Meishi and Dayu Biological both down over 2%, and Muyuan Foods down over 2% as well [1] Group 2 - Bangji Technology's market capitalization is 4.777 billion, with a year-to-date increase of 183.41% despite the recent decline of 8.45% [2] - Tianyu Biological has a market cap of 2.707 billion, with a year-to-date increase of 15.90%, experiencing a decline of 6.23% [2] - Jinxinnong's market capitalization stands at 3.937 billion, with a year-to-date increase of 23.17%, and a recent drop of 4.12% [2] - Haida Group has a market cap of 106.9 billion, with a year-to-date increase of 33.54%, and a decline of 3.19% [2] - Longda Meishi's market cap is 6.313 billion, with a year-to-date decrease of 26.14%, and a recent decline of 2.99% [2] - Dayu Biological has a market cap of 1.192 billion, with a year-to-date increase of 90.39%, and a decline of 2.90% [2] - Muyuan Foods has a market cap of 307 billion, with a year-to-date increase of 48.15%, and a decline of 2.02% [2]

Group 1 - The recent controversy surrounding the use of pre-prepared dishes in restaurants, particularly highlighted by Luo Yonghao's comments about Xibei, has led to increased public attention on the pre-prepared food sector [1][2] - The National Health Commission has successfully passed the draft of the "National Standards for Food Safety of Pre-prepared Dishes," which will soon be open for public consultation, establishing a unified definition and mandatory disclosure for the use of pre-prepared dishes in restaurants [2][3] - Following the announcement, several A-share pre-prepared dish concept stocks experienced significant gains, with Delisi (002330) hitting the daily limit and closing at 5.45 yuan, up 10.10%, and its pre-prepared dish revenue projected to account for 21.67% of total revenue in 2024 [2][3] Group 2 - The stock of Longda Meishi (002726), a supplier to Xibei, also rose by 5.69% to 6.13 yuan, following a strategic cooperation agreement with Xibei to enhance product supply and brand influence [3] - Industry experts are optimistic about the positive impact of regulatory standards on the pre-prepared dish sector, with expectations that the introduction of these standards will promote industry self-discipline and benefit leading brands [3] - The recent discussions around pre-prepared dishes have emphasized the need for restaurants to disclose their use of such products, which is expected to strengthen industry self-regulation and enhance consumer trust in quality brands [3]

Group 1 - The recent events involving Luo Yonghao and Xibei have sparked renewed consumer interest in the "pre-prepared dishes" industry, leading to significant stock price increases for related listed companies [1] - Companies such as Delisi (002330), Huifa Food (603536), and Longda Meishi (002726) saw their stocks hit the daily limit, while Guolian Aquatic (300094) experienced a peak increase of 12.43% during trading [1] - The pre-prepared dishes market in China is projected to reach a scale of 485 billion yuan in 2024, with a year-on-year growth of 33.8%, and is expected to reach 749 billion yuan by 2026 [6] Group 2 - The regulatory framework for the pre-prepared dishes industry has begun to take shape, with various standards and regulations being established to promote high-quality development [4][5] - The National Market Supervision Administration and other ministries issued a notification in March 2024, providing clear definitions and standards for pre-prepared dishes [4] - Despite the rapid growth of the market, challenges such as low entry barriers, product homogeneity, and consumer trust issues have intensified competition, leading to a general decline in profits across the industry [7] Group 3 - Financial reports from several pre-prepared dish companies for the first half of 2025 indicate a decline in net profit, with Guolian Aquatic reporting a loss of 550 million yuan [9] - Most companies have experienced a decrease in gross profit margins, with notable declines in revenue for companies like Longda Meishi and Huifa Food [8][9] - The high-gross-margin companies, such as Anjixin Food and Sanquan Food, are identified as industry leaders, while others like Guangzhou Restaurant and Xianyin Food have restaurant operations that may affect their performance [10] Group 4 - The customer base for pre-prepared dishes includes a wide range of dining establishments, from fast food chains to high-end restaurants, indicating the widespread acceptance of these products in the food service industry [11] - Companies are exploring new profit growth points, with some, like Haodangjia, venturing into the health and wellness sector by developing marine product-based health supplements [11]