Core Viewpoint - The company, Zhongxing Junye, is experiencing a significant increase in profitability, with a projected net profit for the first half of 2025 expected to grow by 86.57% to 137.46% compared to the same period last year [1][2]. Financial Performance - In 2024, the company achieved a revenue of 19.35 billion yuan, a slight increase of 0.21% year-on-year, but net profit decreased by 19.77% to 1.28 billion yuan [2]. - The sales volume of edible mushrooms reached 359,000 tons in 2024, marking a 9.01% increase year-on-year [2]. - For the first quarter of 2025, the company reported a revenue of 4.73 billion yuan and a net profit of 482 million yuan, reflecting a year-on-year growth of 38.72% [2]. Product and Market Strategy - The company focuses on a multi-variety development strategy, primarily cultivating enoki mushrooms and button mushrooms, and has established production bases across several provinces in China [2][4]. - The sales price of button mushrooms has been stable, contributing to improved single product performance [3]. Investment and Expansion Plans - The company has been actively investing in expansion projects, including a 50 million yuan investment to establish a new company for cultivating Cordyceps [4]. - Plans include a 550 million yuan investment to build a mushroom industry park to enhance market share in button mushrooms [4]. - The company aims to diversify its business by investing in projects related to the cultivation of rare medicinal mushrooms [4][5].

Core Viewpoint - Zhongxing Junye (002772.SZ) expects a significant increase in net profit for the first half of 2025, projecting a growth of 86.57% to 137.46% compared to the same period last year [1] Financial Performance - The estimated net profit attributable to shareholders is between 55 million and 70 million yuan [1] - The sales price of Agaricus bisporus products has remained stable with an upward trend, contributing to improved single product performance [1] - Investment income from joint ventures has increased year-on-year [1] - Investment income from financial products and changes in fair value have increased by approximately 8 million yuan year-on-year [1] - Financial expenses have decreased compared to the previous year [1]

[Current Period Performance Forecast](index=1&type=section&id=%E4%B8%80%E3%80%81%E6%9C%AC%E6%9C%9F%E4%B8%9A%E7%BB%A9%E9%A2%84%E8%AE%A1%E6%83%85%E5%86%B5) The company anticipates a significant year-on-year increase in its 2025 first-half net profit, with attributable net profit projected between 55 million and 70 million yuan Performance Forecast Summary | Item | Current Period | Prior Year Period | | :--- | :--- | :--- | | **Net Profit Attributable to Shareholders** | **Profit: 55.00 Million Yuan—70.00 Million Yuan** | Profit: 29.4788 Million Yuan | | Growth Rate | **Year-on-year increase: 86.57% —137.46%** | - | | **Net Profit After Deducting Non-recurring Gains and Losses** | **Profit: 42.00 Million Yuan—57.00 Million Yuan** | Profit: 20.4493 Million Yuan | | Growth Rate | **Year-on-year increase: 105.39% —178.74%** | - | | **Basic Earnings Per Share** | **Profit: 0.1466 Yuan/share—0.1866 Yuan/share** | Profit: 0.0750 Yuan/share | - The company characterizes the current period's performance forecast as "year-on-year growth"[3](index=3&type=chunk) [Communication with Accounting Firm](index=1&type=section&id=%E4%BA%8C%E3%80%81%E4%B8%8E%E4%BC%9A%E8%AE%A1%E5%B8%88%E4%BA%8B%E5%8A%A1%E6%89%80%E6%B2%9F%E9%80%9A%E6%83%85%E5%86%B5) The financial data presented in this performance forecast represents preliminary internal estimates, pending pre-audit by an independent accounting firm - The financial data in this performance forecast is a preliminary estimate by the company's finance department and has not been pre-audited by an accounting firm[3](index=3&type=chunk) [Explanation of Performance Changes](index=1&type=section&id=%E4%B8%89%E3%80%81%E4%B8%9A%E7%BB%A9%E5%8F%98%E5%8A%A8%E5%8E%9F%E5%9B%A0%E8%AF%B4%E6%98%8E) Current period performance growth is primarily attributed to stable button mushroom prices, increased joint venture investment income, higher wealth management gains, and reduced financial expenses - Key drivers of performance growth include: - Stable to rising sales prices for button mushrooms, enhancing single-product operating performance - Increased investment income from the joint venture Tianshui Jinxing Biotechnology Co., Ltd. year-on-year - Approximately **8 million yuan** increase in investment income and fair value changes from wealth management products year-on-year - A year-on-year decrease in financial expenses[4](index=4&type=chunk) [Risk Warning and Other Related Disclosures](index=1&type=section&id=%E5%9B%9B%E3%80%81%E9%A3%8E%E9%99%A9%E6%8F%90%E7%A4%BA%E5%8F%8A%E5%85%B6%E4%BB%96%E7%9B%B8%E5%85%B3%E8%AF%B4%E6%98%8E) The company cautions investors that this preliminary, unaudited performance forecast is subject to change, with final figures to be confirmed in the 2025 semi-annual report - The company emphasizes that this performance forecast is a preliminary estimate by the finance department, unaudited, with final data subject to the 2025 semi-annual report, and advises investors to be aware of investment risks[5](index=5&type=chunk)[6](index=6&type=chunk)

Overview - The industrialized production of edible mushrooms has rapidly developed due to advancements in production technology, equipment manufacturing, and market demand growth. In 2023, China's industrialized production of edible mushrooms reached 4.092 million tons, a year-on-year increase of 43.26%, with a production rate of 9.4%. It is projected that in 2024, production will exceed 4.2 million tons, with enoki mushrooms and king oyster mushrooms accounting for over 60% of the total [1][10]. Market Policies - The Chinese government has issued several policies to support the development of the edible mushroom industry, including the "Rural Construction Action Implementation Plan" and various opinions aimed at promoting rural revitalization and enhancing the agricultural supply chain. These policies create a favorable environment for the industrialized production of edible mushrooms [5][7]. Industry Chain - The upstream of the industrialized mushroom production industry includes mushroom strains, substrate materials (such as wood chips and corn cobs), cultivation containers, and production equipment. The midstream involves the actual production of edible mushrooms, while the downstream consists of the consumer market, including processing, catering, and household consumption [8]. Competitive Landscape - As of November 2024, there are 311 industrialized mushroom production enterprises in China, a decrease from 316 in 2023. The leading production varieties include king oyster mushrooms and enoki mushrooms. The market is characterized by a "two strong, many strong" structure, with 21 companies producing over 100 tons per day, including Shanghai Xuerong Biotechnology Co., Ltd. and Tianshui Zhongxing Mushroom Industry Technology Co., Ltd. [12][14]. Company Analysis - Shanghai Xuerong Biotechnology Co., Ltd. focuses on modern biological technology and industrialized production methods, achieving a revenue of 2.162 billion yuan in 2024, with 98.66% from mushroom business [17]. - Tianshui Zhongxing Mushroom Industry Technology Co., Ltd. reported a revenue of 1.935 billion yuan in 2024, with a significant portion from the sales of common mushroom varieties [19]. Development Trends - The future of the industry will see a diversification in production, with companies shifting towards rare and high-end mushroom varieties to meet consumer demand. Additionally, there is a trend of expanding into overseas markets, with companies like Shanghai Fengke Biotechnology establishing bases in countries such as Singapore and Germany [21].

证券代码：002772 证券简称：众兴菌业 公告编号：2025-041 天水众兴菌业科技股份有限公司 关于与关联方共同投资暨关联交易的进展公告 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。 天水众兴菌业科技股份有限公司（以下简称"公司"）于 2025 年 06 月 20 日召开第五届董事会第十三次会议及于 2025 年 07 月 07 日召开 2025 年第一次临 时股东大会审议通过了《关于与关联方共同投资暨关联交易的议案》，相关内容 详见公司于 2025 年 06 月 21 日刊登在信息披露媒体《证券时报》、《中国证券 报》和巨潮资讯网（http://www.cninfo.com.cn）上的《关于与关联方共同投资暨 关联交易的公告》（公告编号：2025-036）。 2025 年 07 月 09 日，四川众兴菌业科技有限公司已办理完成工商注册登记 手续并取得了由金堂县政务服务管理和行政审批局签发的营业执照，具体信息如 下： 1、名称：四川众兴菌业科技有限公司 4、法定代表人：杨香院 5、注册资本：伍仟万元整 6、成立日期：2025 年 07 月 09 日 7 ...

Core Viewpoint - The announcement details the pledge extension of shares by the controlling shareholder, Mr. Tao Jun, and indicates that the pledge does not pose a risk to the company's control or operations [1][2]. Group 1: Share Pledge Details - Mr. Tao Jun, the controlling shareholder, has extended the pledge of 30,420,000 shares, which represents 27.6% of his total holdings [1]. - The total number of shares pledged by Mr. Tao Jun is now 47,310,000, accounting for 28.0073% of his total shares [2]. - Mr. Tian De, an action-in-concert party, has pledged 15,000,000 shares, bringing the total pledged shares to 62,310,000, which is 35.9241% of the total shares held by both shareholders [2]. Group 2: Risk Management and Company Impact - There is no risk of forced liquidation or transfer of shares for the controlling shareholders, and the pledge risk is considered manageable [2]. - The pledge changes will not affect the actual control of the company or its operational governance [2]. - The company will monitor the pledge situation and risks closely, ensuring compliance with disclosure obligations [2].

证券代码：002772 证券简称：众兴菌业 公告编号：2025-040 天水众兴菌业科技股份有限公司 关于控股股东、实际控制人部分股份质押展期的公告 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。 天水众兴菌业科技股份有限公司（以下简称"公司"）于 2025 年 07 月 08 日收到公司控股股东、实际控制人陶军先生的告知函，获悉陶军先生将其持有的 公司部分股份办理了质押展期业务，现将具体情况公告如下： | 一、股东股份质押基本情况 | | --- | （续下表） | 占其所持 | 占公司总股 | 已质押股份情况 | | 未质押股份情况 | | | --- | --- | --- | --- | --- | --- | | 股份比例 | 本比例 | 已质押股份限售和冻 | 占已质押股份 | 未质押股份限 | 占未质押股份 | | | | 结、标记数量 | 比例 | 售和冻结数量 | 比例 | | 42.9559% | 12.0308% | 0 | 0.00% | 0 | 0.00% | | 48.1815% | 3.8145% | 0 | 0.00% | 0 ...

Core Viewpoint - The legal opinion letter issued by Grandall Law Firm confirms the legality and validity of the procedures and results of the shareholders' meeting of Tianshui Zhongxing Mushroom Industry Technology Co., Ltd. held on July 7, 2025 [1][2][4]. Group 1: Meeting Procedures - The shareholders' meeting was convened in accordance with the relevant laws, regulations, and the company's articles of association, with proper notification to shareholders [2][3]. - The meeting utilized a combination of on-site voting and online voting, with specific timeframes for both [3][4]. Group 2: Attendance and Qualifications - A total of 153,344,258 shares were represented at the meeting, accounting for 2.0544% of the total voting shares as of the record date [4]. - The qualifications of the attendees and the convenor of the meeting were verified and deemed valid [4]. Group 3: Voting Procedures and Results - The voting process was conducted in accordance with the meeting notice, and the results were compiled from both on-site and online votes [4]. - The proposal regarding "Investment with Related Parties and Related Transactions" was approved with 148,107,323 votes in favor, representing 99.2173% of the votes cast [5]. - The voting results from minority shareholders showed 13.3358% in favor, with no votes defaulting to abstention [5]. Group 4: Conclusion - The legal opinion concludes that the meeting was conducted in compliance with the relevant regulations, and the voting results are valid [5].

国浩律师（北京）事务所 关于 天水众兴菌业科技股份有限公司 2025 年第一次临时股东大会 之 法律意见书 北京市朝阳区东三环北路 38 号泰康金融大厦 9 层 邮编：100026 9/F, Taikang Financial Tower, 38 North Road East Third Ring, Chaoyang District, Beijing 100026, China 电话/Tel: (+86)(10) 6589 0699 传真/Fax: (+86)(10) 6517 6800 网址/Website: www.grandall.com.cn 国浩律师（北京）事务所 法律意见书 国浩律师（北京）事务所 关于天水众兴菌业科技股份有限公司 2025 年第一次临时股东大会之 法律意见书 国浩京证字[2025]第0373号 致：天水众兴菌业科技股份有限公司 国浩律师（北京）事务所（以下简称"本所"）接受天水众兴菌业科技股份 有限公司（以下简称"公司"）的委托，指派本所律师出席公司 2025 年 7 月 7 日召开的 2025 年第一次临时股东大会（以下简称"本次股东大会"）。现依据 《中华人民共和国公司法 ...

证券代码：002772 证券简称：众兴菌业 公告编号：2025-039 天水众兴菌业科技股份有限公司 2025 年第一次临时股东大会决议公告 1、会议召开的时间： （1）现场会议日期与时间：2025 年 07 月 07 日（星期一）下午 2:30 开始； 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、《天水众兴菌业科技股份有限公司关于召开 2025 年第一次临时股东大会的通知》（公 告编号：2025-037）详见公司指定信息披露媒体《证券时报》、《中国证券报》和巨潮资讯 网（http://www.cninfo.com.cn）； 2、本次股东大会无否决提案的情形； 3、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 天水众兴菌业科技股份有限公司（以下简称"公司"）2025 年第一次临时 股东大会以现场表决及网络投票相结合的方式召开。 （一）会议召开情况 （2）网络投票日期与时间：2025 年 07 月 07 日（星期一），其中通过深圳 证券交易所交易系统进行网络投票的具体时间为 2025 年 07 月 07 日上午 9 ...