Group 1 - The core point of the article is that Huaton Co., Ltd. announced the results of its board meeting held on August 25, 2025, where it reviewed the semi-annual report for 2025 [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]

Company Performance - Huaton Co., Ltd. reported a revenue of approximately 4.244 billion yuan for the first half of 2025, representing a year-on-year increase of 1.89% [1] - The net profit attributable to shareholders was approximately 76.17 million yuan, with a basic earnings per share of 0.11 yuan [1] - In comparison, the revenue for the same period in 2024 was approximately 4.165 billion yuan, with a net loss of about 119 million yuan and a basic loss per share of 0.20 yuan [1] Industry Insights - The pet industry is experiencing significant growth, with a market size of 300 billion yuan, leading to a surge in stock prices for related companies [1]

Group 1 - The core viewpoint of the article is that Huadong Co., Ltd. (002840.SZ) reported its semi-annual results for 2025, showing modest growth in revenue and net profit [1] - The company achieved an operating income of 4.244 billion yuan, representing a year-on-year increase of 1.89% [1] - The net profit attributable to shareholders of the listed company was 76.1731 million yuan [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 66.3116 million yuan [1] - The basic earnings per share were reported at 0.11 yuan [1]

Core Insights - In the first half of 2025, the company achieved operating revenue of 4.244 billion yuan, a year-on-year increase of 1.89%, and a net profit attributable to shareholders of 76.1731 million yuan, marking a turnaround from losses [1] - The company reported a significant increase in operating cash flow, reaching 444 million yuan, up 367.71% year-on-year, indicating strong cash flow management [1] Business Performance - The company's revenue and profit primarily stem from two main business segments: pig farming and pig slaughtering, which include fresh pork and sales of breeding pigs and piglets [1] - In the first half of 2025, the company maintained stable operations at its pig farms while gradually advancing a light-asset expansion model in collaboration with farmers, with pig sales volume remaining roughly the same as the previous year [1] - The company sold a total of 1.2712 million pigs, including 33,100 piglets, and slaughtered 2.5025 million pigs, generating 4.142 billion yuan in revenue from slaughtering and meat processing [1] Industry Position - The company is a leading integrated player in pig farming and slaughtering based in Zhejiang, with a comprehensive layout across the entire pig industry chain, including feed production, livestock farming, slaughtering, and meat processing [1] - The integrated industry chain layout allows the company to effectively smooth out fluctuations in the pig cycle, enhancing its ability to withstand market volatility and reducing the impact of market fluctuations on overall profitability, which is crucial for long-term stable development [1] Strategic Advantages - The company highlighted that its full industry chain layout provides advantages during price fluctuations; when pig prices drop, slaughtering profits increase, alleviating pressure on the farming segment [2] - Conversely, when pig prices rise, although slaughtering volumes may be affected, profitability can still be maintained, and farming profits can enhance overall company performance [2] - The self-breeding and self-raising model ensures production stability and controllability, effectively implementing disease prevention measures and ensuring the safety and effectiveness of the company's epidemic prevention system [2]

Core Viewpoint - Zhejiang Huatong Meat Products Co., Ltd. plans to engage in hedging activities to mitigate potential risks from raw material price fluctuations [1][2]. Group 1: Business Details - The company is involved in feed processing, livestock farming, slaughtering, and deep processing of meat products [2]. - The purpose of the hedging activities is to utilize futures and options to effectively manage adverse impacts from raw material price volatility, thereby enhancing operational efficiency and ensuring sustainable business operations [2]. - The hedging will focus on products and raw materials related to its operations, including soybeans, soybean meal, palm oil, corn, starch, and various livestock products [2]. - The total amount for hedging activities will not exceed RMB 20 million, using the company's own funds without involving raised funds or bank credit [2]. Group 2: Approval Process - The proposal for hedging activities was approved during the 22nd meeting of the fifth board of directors on August 25, 2025, and does not require shareholder approval [3]. Group 3: Risk Management Measures - The company has established several risk control measures, including aligning hedging activities with operational needs, strict funding controls, and monitoring futures trading to avoid liquidity risks [4]. - A dedicated team will monitor contracts, set stop-loss targets, and manage customer credit to mitigate risks [4]. - The appointed sponsor, China Merchants Securities Co., Ltd., has confirmed that the company has followed necessary legal procedures and has established relevant internal controls and risk management systems [4].

一、开展套期保值业务的目的 公司主要从事畜禽饲料加工、畜禽养殖、畜禽屠宰、肉制品深加工业务，为 避免原材料价格波动带来的潜在风险，公司拟开展套期保值业务，充分利用期货、 期权工具，合理规避原料价格波动给经营带来的不利影响，提升企业经营水平， 保障企业健康持续运行。 招商证券股份有限公司关于浙江华统肉制品股份有限公司开展套期 保值业务的核查意见 根据《证券发行上市保荐业务管理办法》《深圳证券交易所股票上市规则》 《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）》等有关法律法规和规范性文件的要求，招商证券股份有限公司 （简称"招商证券"或"保荐机构"）作为浙江华统肉制品股份有限公司（以下 简称"华统股份""本公司"或"公司"）的持续督导保荐机构，对公司开展套期 保值业务事项进行了认真、审慎的核查，具体核查情况及核查意见如下： 公司进行套期保值业务的期货、期权品种，只限于生产经营相关的产品或者 所需的原材料，包括大豆、豆粕、豆油、棕榈油、玉米、淀粉、菜粕、生猪、鸡 肉等农产品期货、期权及相关场外期权品种。 公司开展套期保值业务，是以规避和防范上述公司所需原材料价格波动给公 ...

招商证券股份有限公司关于浙江华统肉制品股份有限公司变更部分 募投项目实际用途并将节余募集资金永久补充流动资金的核查意见 截至本核查意见出具日，本次募集资金投资项目及募集资金使用情况如下： | 序 | 项目名称 | 拟投入募集资金 | 已累计投入募集 | 投资进度 | | --- | --- | --- | --- | --- | | 号 | | （万元） | 资金（万元） | | | 1 | 新建年产4万吨肉制品加工项目 | 20,000.00 | 11,926.33 | 59.63% | | 2 | 补充流动资金 | 71,656.52 | 71,656.52 | 100.00% | （一）募集资金的基本情况 经中国证券监督管理委员会《关于核准浙江华统肉制品股份有限公司非公开 发行股票的批复》（证监许可〔2022〕1036 号）核准，浙江华统肉制品股份有限 公司（以下简称"公司"）采用向特定对象非公开发行股票方式，向特定对象非 公开发行股份人民币普通股（A 股）股票 13,220 万股，发行价格为每股 6.98 元， 募集资金总额人民币 92,275.60 万元，扣除公司为本次股票发行所支付的新股发 行费用 ...

浙江华统肉制品股份有限公司 章 程 二〇二五年八月 | | | | | | 第一章 总则 第一条 为维护浙江华统肉制品股份有限公司（以下简称"公司"）、股东 和债权人的合法权益，规范公司的组织和行为，根据《中华人民共和国公司法》 （以下简称《公司法》）、《中华人民共和国证券法》（以下简称"《证券法》"）、 《上市公司章程指引》和其他有关规定，制订本章程。 第二条 公司系依照《公司法》和其他有关规定以发起设立的方式设立的股 份有限公司。 公司由原浙江义乌华统肉制品有限公司全体股东共同作为发起人，以原浙江 义乌华统肉制品有限公司经审计确认的账面净资产整体折股进行整体变更的方 式设立，在浙江省市场监督管理局登记注册，取得营业执照（统一社会信用代码： 9133070073033191X2）。 第三条 公司于 2016 年 12 月 2 日经中国证券监督委员会（以下简称"中国 证监会"）批准，首次向社会公众发行人民币普通股 4,466.67 万股，并于 2017 年 1 月 10 日在深圳证券交易所上市。 第四条 公司注册名称：浙江华统肉制品股份有限公司 英文全称：ZHEJIANG HUATONG MEAT PRODU ...

一、《公司章程》修订情况 浙江华统肉制品股份有限公司（以下简称"公司"）根据《公司法》和《公司 章程》有关规定，于 2025 年 8 月 25 日召开第五届董事会第二十二次会议，审议 通过了《关于修订<公司章程>及办理相关工商变更登记的议案》，主要内容如下： 由于2024年度公司层面业绩考核未能满足公司2022年限制性股票激励计划 首次授予及预留授予限制性股票第二个解除限售期解除限售条件，因此根据公司 《2022 年限制性股票激励计划（草案）》、《2022 年限制性股票激励计划实施考核 管理办法》以及相关法律、法规规定，公司拟对上述激励对象涉及的已授予但尚 未解除限售合计 2,896,500 股限制性股票进行回购注销，并修订《公司章程》中 注册资本及股份总数内容如下： | | 修订前 | | 修订后 | | --- | --- | --- | --- | | 第六条 | 公司注册资本为人民币 | 第六条 | 公司注册资本为人民币 | | 80,506.2893 | 万元。 | 80,216.6393 | 万元。 | | 第十九条 | 公司股份总数为 | 第十九条 | 公司股份总数为 | | 80,506.28 ...

一、改变募集资金投资项目的概述 （一）募集资金的基本情况 经中国证券监督管理委员会《关于核准浙江华统肉制品股份有限公司非公开 发行股票的批复》（证监许可〔2022〕1036 号）核准，浙江华统肉制品股份有限 公司（以下简称"公司"）采用向特定对象非公开发行股票方式，向特定对象非 公开发行股份人民币普通股（A 股）股票 13,220 万股，发行价格为每股 6.98 元， 募集资金总额人民币 92,275.60 万元，扣除公司为本次股票发行所支付的新股发 行费用合计人民币 619.08 万元，募集资金净额为人民币 91,656.52 万元，募集资 金净额 91,656.52 万元以及尚未划转的发行费用 219.08 万元，共计人民币 91,875.60 万元已于 2022 年 7 月 14 日汇入公司募集资金专项账户。天健会计师 事务所（特殊普通合伙）已对公司 2021 年非公开发行 A 股股票的资金到位情况 进行了审验，并出具天健验﹝2022﹞359 号《验资报告》。公司已对上述募集资 金进行专户存储管理。 证券代码：002840 证券简称：华统股份 公告编号：2025-099 浙江华统肉制品股份有限公司 关于 ...