Core Viewpoint - The company is progressing with its Changhong Agricultural Cordyceps militaris ecological breeding project, which has partially completed technical upgrades and is entering trial production [1] Group 1: Company Developments - The Cordyceps militaris project has achieved partial technical upgrades and is now in trial production [1] - The revenue from this project in the first three quarters is relatively small compared to the total revenue of the company [1] - Other projects are currently under construction [1] Group 2: Sales Strategy - The company is actively exploring and improving the sales models and channels for its Cordyceps militaris (ecological breeding) products [1]

Core Points - The company has completed the initial registration of its 2025 stock option incentive plan, granting 11.5 million stock options at an exercise price of 6.87 yuan per share to 17 individuals [1][3][5] Group 1: Incentive Plan Overview - The stock options were approved by the board on September 25, 2025, and the plan was publicly disclosed [1][2] - The initial grant date for the stock options is October 15, 2025, with the registration completion date set for November 14, 2025 [1][5] - The stock options will be sourced from the company's A-share ordinary stock issued to the incentive recipients [5] Group 2: Grant Conditions and Structure - The stock options will have a maximum validity period of 60 months from the grant date [6] - The waiting period for the stock options is divided into three phases, with the first exercise possible after 12 months [7][8] - The plan includes a prohibition on transferring the stock options during the waiting period [7] Group 3: Performance Assessment - The exercise of stock options is contingent upon meeting company-level performance targets, which will be assessed annually [13] - If the performance targets are not met, the corresponding stock options will be canceled [12][15] - Individual performance assessments will also determine the actual exercise amount for each recipient [15] Group 4: Financial Impact - The company will recognize the stock option costs in accordance with relevant accounting standards, with an estimated amortization of these costs over time [16] - The incentive plan is expected to positively influence the company's long-term performance by enhancing employee motivation and operational efficiency [16]

证券代码：002772 证券简称：众兴菌业 公告编号：2025-073 天水众兴菌业科技股份有限公司 关于 2025 年股票期权激励计划首次授予登记完成的公告 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。 重要内容提示： 天水众兴菌业科技股份有限公司（以下简称"公司"或"本公司"）根据《上 市公司股权激励管理办法》（以下简称《管理办法》）、深圳证券交易所、中国 证券登记结算有限责任公司深圳分公司及公司《2025 年股票期权激励计划（草 案）》及其摘要的规定，完成了 2025 年股票期权激励计划（以下简称"本激励 计划"）首次授予登记工作，现将有关情况公告如下： 一、本激励计划已履行的决策程序和信息披露情况 1、2025 年 09 月 25 日，公司召开第五届董事会第十五次会议审议通过了《关 于审议<天水众兴菌业科技股份有限公司 2025 年股票期权激励计划（草案）及其 摘要>的议案》、《关于审议<天水众兴菌业科技股份有限公司 2025 年股票期权 激励计划实施考核管理办法>的议案》及《关于提请股东会授权董事会办理 2025 年股票期权激励计划相关事宜的议案》 ...

Core Viewpoint - A-share listed companies are actively subscribing to private equity products, with a total subscription amount reaching 818 million yuan as of November 7 this year [1]. Subscription Overview - Ten listed companies have disclosed their subscription or continued subscription to private equity products, involving a total of 13 private equity firms [1]. - The private equity firms are categorized by management scale: four firms have over 10 billion yuan, four firms are in the 1-2 billion yuan range, three firms are in the 0-500 million yuan range, one firm has 5-10 billion yuan, and one firm has 2-5 billion yuan [1]. Notable Subscriptions - Yaxing Anchor Chain (601890.SH) has made the largest investment, with a total subscription amount of 263 million yuan across three private equity products this year [2][3]. - Yongji Co., Ltd. (603058.SH) has invested 100 million yuan in the "Shanzha Tree Zhenzhu 5" product, showing a history of multiple investments in this product since 2020 [4]. - Zhongxing Junye (002772.SZ) extended the investment period for the "Shanyuan Jin 206" product, which it initially subscribed to for 100 million yuan in 2021 [5]. Preference for Large Private Equity Firms - Diya Co., Ltd. (301177.SZ) and Innovation New Materials (600361.SH) prefer large private equity firms, with Diya investing 60 million yuan in two products from firms with over 10 billion yuan in management scale [6]. - Other companies like Heshun Petroleum (603353.SH) and Jinzhen Co., Ltd. (600446.SH) have also made significant investments in various private equity products this year [6]. Historical Performance and Returns - Companies have reported past performance and returns from their private equity investments, such as Yangguang Lighting (600261.SH) redeeming portions of its investments and realizing significant returns [8]. - Yongji Co., Ltd. reported a total investment return of 121 million yuan from the "Shanzha Tree Zhenzhu 5" product in 2021, but saw a decline in investment returns in 2022 due to reduced gains from private equity redemptions [8].

Group 1 - The company has approved the use of up to 600 million RMB of idle funds for entrusted wealth management, with a usage period of 12 months from the board's approval date [2][3][17] - The company has made several investments in wealth management products, including 30 million RMB in "Pacific Securities Jin Yuan Bao No. 8" and 50 million RMB in "China Post Securities Hong Yu No. 1" [6][8][11] - As of the announcement date, the total amount of wealth management products held by the company is 370 million RMB [17] Group 2 - The company has approved a guarantee limit of up to 1.97 billion RMB for its subsidiaries for the year 2025, with specific limits based on the subsidiaries' asset-liability ratios [19][20] - The company has signed several irrevocable guarantee agreements with banks for its subsidiaries, including a guarantee of 30 million RMB for Jiangsu Zhongyou and 20 million RMB for Anyang Zhongxing [21][22] - The total balance of guarantees provided by the company to its subsidiaries is 1.129 billion RMB, accounting for 34.04% of the company's latest audited net assets [24] Group 3 - The company is progressing with a project investment agreement to build a medicinal mushroom industry park, with a total investment of 700 million RMB [34][36] - A supplementary agreement has been signed to adjust the rental area and rental fees for the project, reducing the first phase rental area from 159,100 square meters to 132,000 square meters and the annual rent from 14.85 million RMB to approximately 12.3 million RMB [37][38] - The total investment amount for the project remains unchanged despite adjustments in rental terms [38]

Core Viewpoint - Zhongxing Junye (002772) announced on the evening of November 7 that it has no overdue external guarantees, no guarantees involved in litigation, and no losses incurred due to being judged against in guarantee cases [1] Group 1 - The company confirmed the absence of overdue external guarantees [1] - There are no guarantees that are currently involved in any litigation [1] - The company has not incurred any losses from guarantees due to adverse judgments [1]

Core Points - Tianshui Zhongxing Mushroom Industry Technology Co., Ltd. announced the approval of a supplementary agreement for an external investment matter during the 18th meeting of its fifth board of directors held on November 7, 2025 [1][4] - The board meeting was conducted via telecommunication, with all nine directors present, and complied with the relevant regulations of the Company Law and the Articles of Association [2][3] - The proposal for the supplementary agreement was passed unanimously by the board, indicating strong support for the external investment initiative [3] Meeting Details - The board meeting was chaired by Chairman Gao Boshun and the notice was sent to all directors and senior management on November 3, 2025 [2] - The meeting had a total of nine directors, all of whom participated, ensuring a full attendance [2] Proposal and Voting Results - The proposal regarding the signing of the supplementary agreement was approved with a vote of 9 in favor, 0 against, and 0 abstentions, reflecting a consensus among the board members [3] - Prior to the board meeting, the proposal had already been reviewed and approved by the company's fifth board strategic committee [3] Follow-up Actions - The board has authorized the management team to sign the supplementary agreement and handle related follow-up matters [4] - The company will disclose further details regarding the supplementary agreement through designated media outlets, indicating a commitment to transparency [4] - The approval of this proposal marks a significant step forward for Zhongxing Mushroom in its external investment endeavors, with the market expected to closely monitor the implications for the company's operational development [4]

Group 1 - The core point of the article is that Zhongxing Junye (SZ 002772) announced the convening of its 18th board meeting on November 7, 2025, to review investment-related documents [1] - For the first half of 2025, Zhongxing Junye's revenue composition was 99.78% from agricultural planting and 0.22% from leasing business [1] - As of the report date, Zhongxing Junye's market capitalization was 5.3 billion yuan [1] Group 2 - The article also mentions a broader context regarding the "14th Five-Year Plan" and highlights four emerging industries and six future industries as focal points for development [1]

证券代码：002772 证券简称：众兴菌业 公告编号：2025-069 天水众兴菌业科技股份有限公司 关于使用部分闲置自有资金进行委托理财的进展公告 | 资产管理 | | 产品名称 | 产品 | 认购（起 | 认购 | 本次赎 | 实际年化 | 实际收 | 赎回情况 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 人名称 | | | 类型 | 息）日期 | 金额 | 回金额 | 收益率 | 益金额 | | | | | | 华龙证券金 | 固定收益 | | | | | | 已于2025 月 03 | 年11 日赎回， | | 华 龙 证 | 券 | 智 汇金 债 5 | 类集合资 | 2024 年 11 | | | | | 截至2025 | 年11 | | 股 份 有 | 限 | | | | 5,000 | 5,000 | 2.24% | 111.60 | | | | | | 号集合资产 | 产管理计 | 月 日 4 | | | | | 月 06 | 日，相应 | | 公司 | | | | | | | | | | ...

证券代码：002772 证券简称：众兴菌业 公告编号：2025-070 天水众兴菌业科技股份有限公司 具体担保形式后续将与有关机构进一步协商确定，以正式签署的协议或合 同为准。同时董事会提请股东大会授权公司经营管理层在股东大会审批的额度 及有效期内根据实际经营需求全权办理相关融资申请、担保合同的签署以及在 规定范围内对担保额度进行调剂等事项，严格根据相关法律法规等及公司相关 制度和管理要求，规范办理具体事宜。 《关于 2025 年度对外担保额度预计的公告》（公告编号：2024-076）详见 公司指定的信息披露媒体《证券时报》、《上海证券报》和巨潮资讯网 （http://www.cninfo.com.cn）。 二、本次担保进展情况 （一）本次担保情况 1/4 1、2025 年 11 月 04 日，公司与招商银行股份有限公司徐州分行签署《最高 额不可撤销担保书》，为全资子公司江苏众友兴和菌业科技有限公司（以下简 称"江苏众友"）向招商银行股份有限公司徐州分行申请的授信业务提供连带 保证责任，最高担保额度 3,000 万元。 2、2025 年 11 月 05 日，公司与招商银行股份有限公司安阳分行签署《最高 额不可 ...