Core Viewpoint - The company, Huadong Co., Ltd. (002840.SZ), has signed equity transfer agreements to acquire stakes in two subsidiaries, increasing its ownership significantly in both companies [1] Group 1: Equity Acquisition - The company will acquire 12% of Dongyang Huadong Animal Husbandry Co., Ltd. for a total of 52,892,054.79 yuan and 12% of Yiwu Huasheng Animal Husbandry Co., Ltd. for 105,715,726.03 yuan, with the purchase price based on the provincial fund's paid-in capital and a 4% annual simple interest calculation [1] - Additionally, the company will purchase 1.875% of Yiwu Huasheng Animal Husbandry Co., Ltd. from Hangzhou Hengjin Huida Technology Development Co., Ltd. for 10.5 million yuan [1] Group 2: Ownership Structure - Following the acquisitions, the company's ownership in Dongyang Huadong Animal Husbandry Co., Ltd. will increase from 70% to 82%, and in Yiwu Huasheng Animal Husbandry Co., Ltd. from 68.125% to 82% [1] - Both subsidiaries will continue to be controlled by the company and will be included in the consolidated financial statements [1]

证券代码：002840 证券简称：华统股份 公告编号：2025-116 浙江华统肉制品股份有限公司 关于公司收购控股子公司东阳华统牧业有限公司、义乌华昇 牧业有限公司部分股权同时接受关联方担保 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。 一、交易概述 1、本次交易基本情况 近日，浙江华统肉制品股份有限公司（以下简称"公司"）与东阳华统牧业 有限公司（以下简称"东阳牧业"）、义乌华昇牧业有限公司（以下简称"华昇牧 业"）股东浙江省产业基金有限公司（以下简称"省产业基金"）签署了《东阳华 统牧业有限公司股权转让协议》、《义乌华昇牧业有限公司股权转让协议》，根据 公司与省产业基金于 2022 年 7 月 8 日签署的《东阳华统牧业有限公司股权投资 协议》、《义乌华昇牧业有限公司股权投资协议》中回购退出条款的约定，按收购 部分股权所对应的省产业基金实缴出资额加上按每年 4%单利计算的收购价格， 分别以自有资金52,892,054.79元和105,715,726.03元收购其持有的东阳牧业12% 的股权、华昇牧业 12%的股权。《东阳华统牧业有限公司股权 ...

Core Viewpoint - The company has signed a share transfer agreement to acquire 12% stakes in both Dongyang Animal Husbandry and Huasheng Animal Husbandry, increasing its ownership in these companies significantly [1] Group 1: Acquisition Details - The company will use its own funds of 52.8921 million yuan and 106 million yuan to acquire the respective stakes in Dongyang Animal Husbandry and Huasheng Animal Husbandry [1] - Following the acquisition, the company's stake in Dongyang Animal Husbandry will increase from 70% to 82%, and its stake in Huasheng Animal Husbandry will rise from 68.125% to 82% [1] Group 2: Guarantee Responsibilities - The controlling shareholder, Huaton Group, and the actual controllers, Zhu Jianyong and his spouse, Zhu Jianjun and his spouse, along with Vice Chairman Zhu Kai, will assume joint guarantee responsibilities for the full payment obligations related to the buyback [1]

Investment Rating - The industry investment rating is "Positive" (maintained) [1] Core Views - The report indicates that the rebound in pig prices may be nearing its end, with supply pressure leading to a potential bottoming out of prices. As of November 9, 2025, the average price of live pigs in China is 11.90 yuan/kg, down 0.30 yuan/kg week-on-week and down 4.80 yuan/kg year-on-year [3][12] - The report highlights that the entry of second-stage breeding is nearing its end, with high existing stock levels leading to price pressure ahead of the New Year. The proportion of second-stage breeding in actual sales was 2.12% from October 20-31, 2025, up 0.03 percentage points month-on-month and 0.20 percentage points year-on-year [4][19] - The report suggests that the ongoing losses in pig farming may accelerate the culling of sows, driven by multiple factors including policy adjustments and disease outbreaks. Recommended stocks include Muyuan Foods, Wens Foodstuff Group, and others [5][27] Summary by Sections Weekly Observation - The report notes that the average weight of pigs being sold has increased to 128.30 kg per head, with a week-on-week increase of 0.40 kg and a year-on-year increase of 2.23 kg. The price difference between fat pigs and standard pigs has narrowed, indicating an increase in fat pig supply [3][12] - The report also mentions that the breeding stock of sows has decreased by 0.77% month-on-month as of October 2025, with the price of 7 kg piglets rebounding to 198 yuan/head due to rising pig prices [4][24] Weekly Market Performance - From November 3 to November 7, 2025, the agricultural sector underperformed the broader market by 0.29 percentage points, with the Shanghai Composite Index rising by 1.08% and the agricultural index rising by 0.79% [5][30] - The report highlights that the fishery sector led the gains among sub-sectors, with stocks like Jinxinnong, Yuegui, and Luoniushan showing significant increases [5][30] Price Tracking - As of November 7, 2025, the average price of live pigs is 11.91 yuan/kg, down 0.58 yuan/kg from the previous week, while the price of piglets is 18.93 yuan/kg, up 0.80 yuan/kg [5][38] - The report also tracks the prices of other agricultural products, noting increases in beef, shrimp, corn futures, and soybean meal futures [5][39][48] Key News - The report mentions that the National Bureau of Statistics reported a 10.1% month-on-month increase in the price of live pigs in late October 2025 [5][36] - It also notes that the Ministry of Agriculture and Rural Affairs has released guidelines for the construction of a smart agriculture standard system [5][37] Feed Production - According to the China Feed Industry Association, the total industrial feed production in September 2025 was 30.36 million tons, reflecting a month-on-month increase of 3.4% [5][57] Import Data - In September 2025, pork imports totaled 80,000 tons, down 22.5% year-on-year, while chicken imports were 7,100 tons, down 75.2% year-on-year [5][54][55]

Core Viewpoint - The company has approved a change in accounting estimates that will enhance the accuracy of its financial reporting and is expected to positively impact its net profit and net assets for the fiscal year 2025 [3][15][20]. Group 1: Board Meeting - The fifth board meeting of the company was held on November 7, 2025, with all seven directors present, including independent directors participating via communication methods [2]. - The board unanimously approved the proposal to change certain accounting estimates, which aligns with relevant accounting standards and is expected to improve the quality of financial information [3][5][20]. Group 2: Supervisory Meeting - The fifth supervisory meeting was also held on November 7, 2025, with all three supervisors present, who supported the board's decision regarding the accounting estimate changes [9][10]. - The supervisory board confirmed that the proposal complies with legal regulations and does not harm the interests of the company or its shareholders [10][22]. Group 3: Accounting Estimate Change - The change in accounting estimates will take effect from October 1, 2025, and will not require retrospective adjustments to previously disclosed financial reports [16][18]. - The estimated impact of this change includes a reduction in fixed asset depreciation expenses by 1.5562 million yuan and an increase in net profit attributable to shareholders by 1.1672 million yuan for the year 2025 [15][18]. Group 4: Rationale and Compliance - The company justified the change in accounting estimates based on the rapid development of its business and improvements in construction technology, which necessitated a reassessment of the useful life of its fixed assets [17][19]. - Both the board and supervisory committee agreed that the changes reflect a more accurate representation of the company's financial status and comply with relevant accounting standards [20][21].

Group 1 - The core point of the article is that Huaton Co., Ltd. (SZ 002840) held its 24th meeting of the 5th board of directors on November 7, 2025, to review proposals including changes to certain accounting estimates [1] - For the first half of 2025, Huaton's revenue composition was as follows: slaughtering and meat processing accounted for 97.59%, other industries 1.56%, poultry farming 0.68%, and feed industry 0.17% [1] - As of the report date, Huaton's market capitalization was 9.1 billion yuan [1]

证券代码：002840 证券简称：华统股份 公告编号：2025-115 浙江华统肉制品股份有限公司 关于变更部分会计估计的公告 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。 特别提示： 本次会计估计变更采用未来适用法，无需对已披露的财务报告进行追溯调整， 不会对公司的财务状况、经营成果和现金流量产生重大影响。 经初步测算，本次会计估计变更预计将减少公司2025年度固定资产折旧费用 155.62万元，增加归属于上市公司股东的净利润116.72万元，增加净资产116.72 万元（以上数据未经审计，最终影响数据以2025年度审计报告为准）。 | | | 本次变更前 | | | | --- | --- | --- | --- | --- | | 类别 | 折旧方法 | 折旧年限 | 残值率（%） | 年折旧率（%） | | 房屋及建筑物 | 年限平均法 | 10-20年 | 5.00%、10.00% | 4.50-9.50% | | | | 本次变更后 | | | | 类别 | 折旧方法 | 折旧年限 | 残值率（%） | 年折旧率（%） | | 房屋及建筑物 | ...

证券代码：002840 证券简称：华统股份 公告编号：2025-114 浙江华统肉制品股份有限公司 第五届监事会第二十次会议决议公告 本公司及监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。 经与会监事签字并加盖印章的第五届监事会第二十次会议决议。 特此公告。 浙江华统肉制品股份有限公司监事会 浙江华统肉制品股份有限公司（以下简称"公司"）第五届监事会第二十次 会议于 2025 年 11 月 4 日以电子邮件、电话通讯等形式发出通知，并于 2025 年 11 月 7 日以通讯方式召开。本次会议应到监事 3 名，实际到会监事 3 名，均采 用通讯方式表决。。会议由监事会主席卫彩霞女士主持，会议的召集和召开符合 《中华人民共和国公司法》等法律法规及公司章程的规定。 二、监事会会议审议情况 1、审议并通过《关于公司变更部分会计估计的议案》 经审核，监事会认为：本次会计估计变更符合《企业会计准则第 3 号——投 资性房地产》、《企业会计准则第 4 号——固定资产》、《企业会计准则第 28 号— 会计政策、会计估计变更和差错更正》等相关文件规定，变更后的会计估计更加 客观真实地反 ...

浙江华统肉制品股份有限公司 第五届董事会第二十四次会议决议公告 证券代码：002840 证券简称：华统股份 公告编号：2025-113 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。 一、董事会会议召开情况 浙江华统肉制品股份有限公司（以下简称"公司"）第五届董事会第二十四 次会议于 2025 年 11 月 4 日以电子邮件、电话通讯等形式发出通知，并于 2025 年 11 月 7 日在公司会议室以现场与通讯相结合方式召开。本次会议应到董事 7 名，实际到会董事 7 名，其中独立董事郭站红先生、吴天云先生、楼芝兰女士采 取通讯方式表决。会议由董事长朱俭军先生主持，公司监事、高级管理人员列席 了本次会议，会议的召集和召开符合《中华人民共和国公司法》等法律法规及公 司章程的规定。 二、董事会会议审议情况 1、审议并通过《关于公司变更部分会计估计的议案》 经审核，董事会认为：本次会计估计变更符合《企业会计准则第 3 号——投 资性房地产》、《企业会计准则第 4 号——固定资产》、《企业会计准则第 28 号— 会计政策、会计估计变更和差错更正》等相关文件规定，变更后的 ...

Core Insights - The food processing sector experienced a slight increase of 0.33% on November 6, with Huihua Foods leading the gains [1] - The Shanghai Composite Index closed at 4007.76, up 0.97%, while the Shenzhen Component Index closed at 13452.42, up 1.73% [1] Stock Performance Summary - Huihua Foods (603536) closed at 12.75, up 3.49% with a trading volume of 335,400 shares and a transaction value of 424 million yuan [1] - Huadong Co. (002840) closed at 11.31, up 2.08% with a trading volume of 236,100 shares and a transaction value of 265 million yuan [1] - Quandawei (002626) closed at 20.28, up 1.40% with a trading volume of 100,100 shares and a transaction value of 203 million yuan [1] - Shuanghui Development (000895) closed at 26.10, up 0.89% with a trading volume of 80,100 shares and a transaction value of 209 million yuan [1] - Other notable stocks include Kemei Foods (002661) at 9.74, up 0.72%, and Zihua Co. (603102) at 43.50, up 0.51% [1] Capital Flow Analysis - The food processing sector saw a net outflow of 43.01 million yuan from institutional investors, while retail investors experienced a net outflow of 4.97 million yuan [2] - Speculative funds recorded a net inflow of 47.97 million yuan [2] Individual Stock Capital Flow - Huihua Foods (603536) had a net inflow of 26.54 million yuan from institutional investors, while retail investors saw a net outflow of 41.39 million yuan [3] - Shuanghui Development (000895) recorded a net inflow of 8.97 million yuan from institutional investors [3] - Kemei Foods (002661) had a net inflow of 4.63 million yuan from institutional investors, with retail investors experiencing a net outflow of 2.10 million yuan [3]