中原证券股份有限公司（以下简称"中原证券"或"保荐机构"）作为晨光 生物科技集团股份有限公司（以下简称"晨光生物"或"公司"）公开发行可转 债的保荐机构，根据《证券发行上市保荐业务管理办法》《深圳证券交易所创业 板股票上市规则》《深圳证券交易所上市公司自律监管指引第 2 号——创业板上 市公司规范运作》《深圳证券交易所上市公司自律监管指引第 13 号——保荐业 务》等有关规定，对晨光生物部分募集资金投资项目延期的情况进行了审慎核查。 核查情况及核查意见如下： 一、募集资金基本情况 中原证券股份有限公司 关于晨光生物科技集团股份有限公司 部分募集资金投资项目延期的核查意见 经中国证券监督管理委员会《关于核准晨光生物科技集团股份有限公司公开 发行可转换公司债券的批复》（证监许可[2019]2571 号）核准，同意公司向社会 公开发行面值总额 63,000 万元的可转换公司债券，期限 6 年。本次发行可转换 公司债券的募集资金总额为人民币 63,000 万元，扣除通过募集资金专户支付的 承销、保荐佣金共计人民币 10,698,113.20 元（不含税）后，主承销商中原证券 股份有限公司于 2020 年 6 月 23 ...

Group 1 - The core viewpoint of the news is that Morning Light Bio has shown a mixed performance in stock price and financial results, with a notable increase in net profit despite a decline in revenue [1][2]. - As of January 16, Morning Light Bio's stock price increased by 2.00% to 13.75 CNY per share, with a total market capitalization of 6.643 billion CNY [1]. - The company has experienced a year-to-date stock price increase of 10.80%, with a 4.64% rise over the last five trading days and a 7.25% increase over the last 20 days, although it has seen a 5.37% decline over the last 60 days [1]. Group 2 - For the period from January to September 2025, Morning Light Bio reported a revenue of 5.047 billion CNY, a year-on-year decrease of 3.41%, while the net profit attributable to shareholders increased by 385.30% to 304 million CNY [2]. - The company has distributed a total of 516 million CNY in dividends since its A-share listing, with 213 million CNY distributed in the last three years [3]. - As of September 30, 2025, the number of shareholders increased by 6.72% to 16,700, while the average circulating shares per person decreased by 6.30% to 23,895 shares [2][3].

证券之星消息，1月15日农产品加工板块较上一交易日下跌0.23%，晨光生物领跌。当日上证指数报收于 4112.6，下跌0.33%。深证成指报收于14306.73，上涨0.41%。农产品加工板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 600251 | 冠衣股份 | 10.10 | 5.87% | 32.43万 | 3.25亿 | | 300268 | *ST佳沃 | 13.32 | 2.94% | 2.40万 | 3177.61万 | | 603231 | 索宝蛋白 | 19.64 | 2.94% | 5.81万 | 1.13亿 | | 920023 | 田野股份 | 4.98 | 2.68% | 31.77万 ﺏ | 1.58亿 | | 920371 | 欧福蛋业 | 11.11 | 2.02% | 3.60万 | 3984.67万 | | 002852 | 道道全 | 11.13 | 1.55% | 5.90万 | 6534.57万 | | 003030 | 祖名股份 ...

证券代码：300138 证券简称：晨光生物 公告编号：2026—002 晨光生物科技集团股份有限公司 关于为子公司银行借款提供担保的进展公告 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、担保情况概述 新疆晨光与邯郸中行签署了新的《最高额保证合同》，被担保最高债权额： 1、担保债权最高本金余额为：20,000 万元，2、基于主债权之本金所发生的利 息（包括利息、复利、罚息）、违约金、损害赔偿金、实现债权的费用（包括但 不限于诉讼费用、律师费用、公证费用、执行费用等）、因债务人违约而给债权 人造成的损失和其他所有应付费用等；保证方式为：连带责任保证；保证期间为： 各笔债务履行期限届满之日起三年。 保证责任的发生：如果债务人在主合同项下的任何正常还款日或提前还款日 未按约定向债权人进行清偿，债权人有权要求保证人承担保证责任。 2、结合自身经营资金需求，巴州晨光植物蛋白有限公司（简称"巴州蛋白", 系新疆晨光全资子公司，穿透后为公司控股子公司）于近日向上海浦东发展银行 股份有限公司阿克苏分行（以下简称"浦发银行"）提出融资业务申请。经过核 查，浦发银行同意了巴 ...

Core Insights - A total of 43 companies listed on the ChiNext board have released their performance forecasts for 2025, with 22 companies expecting profit increases, representing 51.16% of the total [1] - The overall proportion of companies forecasting positive performance (including profit increases and profit warnings) stands at 55.81% [1] Performance Forecast Summary - Among the companies forecasting profit increases, 9 are expected to see net profit growth exceeding 100%, while 6 companies anticipate growth between 50% and 100% [1] - The company with the highest expected net profit growth is Huisheng Biological, with a median increase of 1355.24% for 2025 [1] - Other notable companies include Zhongtai Co., expecting a median net profit increase of 677.22%, and Chenguang Biological, with a forecasted increase of 301.38% [1] Companies with Significant Profit Increases - The following companies are highlighted for their substantial expected profit increases: - Huisheng Biological (Code: 300871) - 1355.24% increase, latest closing price: 25.52, year-to-date change: 23.11%, industry: Agriculture, Forestry, Animal Husbandry, and Fishery [1] - Zhongtai Co. (Code: 300435) - 677.22% increase, latest closing price: 29.14, year-to-date change: 31.14%, industry: Public Utilities [1] - Chenguang Biological (Code: 300138) - 301.38% increase, latest closing price: 13.78, year-to-date change: 11.04%, industry: Agriculture, Forestry, Animal Husbandry, and Fishery [1] - Lakala (Code: 300773) - 222.00% increase, latest closing price: 32.08, year-to-date change: 12.64%, industry: Non-banking Financial [1] - Other companies with notable increases include Guokai Technology, Chuanjin Nuo, and Jinli Yong, with expected increases ranging from 144.00% to 158.44% [1]

Core Viewpoint - The company, Chenguang Biotech (300138.SZ), forecasts significant growth in its 2025 performance, with expected revenue of approximately 6.6 billion yuan and a net profit attributable to shareholders ranging from 350 million to 405 million yuan, representing a year-on-year increase of 272.14% to 330.62% [1] Group 1: Performance Forecast - The company anticipates a substantial increase in net profit, with a projected range of 350 million to 405 million yuan, indicating a growth rate of 272.14% to 330.62% year-on-year [1] - The expected net profit after deducting non-recurring gains and losses is estimated to be between 274 million and 329 million yuan, with a remarkable year-on-year growth of 519.13% to 643.41% [1] Group 2: Business Performance Drivers - The core driver of the high growth is the strong performance of the company's main plant extraction business, which is expected to see both revenue and gross profit increase year-on-year [1] - Chenguang Biotech maintains a leading position in the global plant extraction sector, with sales of its core product, capsicum red pigment, exceeding 10,000 tons, reflecting a year-on-year increase of approximately 27% [1] - The high-value product, capsicum extract, has shown even more impressive growth, with sales reaching about 2,900 tons, a surge of 65% year-on-year, becoming a key engine for the growth of the plant extraction business [1] Group 3: Other Business Segments - In addition to the plant extraction business, the improvement in the profitability of the cottonseed business has also contributed significantly to the overall performance growth [2] - The company plans to focus on processing rather than trading in the cottonseed business, with expected revenue of about 2.9 billion yuan, which represents a decline year-on-year; however, the recovery in industry conditions has led to a return to profitability [2] - The company has achieved simultaneous growth in scale and profitability through core product expansion, business structure optimization, and industry recovery [2]

Summary of the Conference Call for Morning Bio (晨光生物) Company Overview - **Company**: Morning Bio (晨光生物) - **Industry**: Plant extraction and natural colorants Key Points and Arguments Financial Performance - In 2025, Morning Bio's total revenue was approximately 6.6 billion yuan, a decrease of about 400 million yuan compared to 2024, primarily due to a reduction in cottonseed business revenue by 500-600 million yuan [3][16] - The plant extraction business saw a revenue increase of about 5%, reaching 3.2-3.3 billion yuan, with significant profit recovery attributed to industry stabilization and a cost-plus pricing model [2][3] - The cottonseed business turned profitable in 2025, contributing positively to overall performance [3] Product Performance - **Chili Red Colorant**: Sales volume increased by approximately 27% to over 12,000 tons [4] - **Chili Extract**: Sales volume reached over 2,900 tons, up from 1,500 tons in 2024 [4] - **Lutein**: Sales volume for feed-grade lutein decreased by 10%, while food-grade lutein remained stable [5] - **Second-tier Products**: Products like stevia and Sichuan pepper extracts saw revenue growth of 20%-60%, with total revenue rising from around 600 million to about 800 million yuan, marking a nearly 30% year-on-year increase [6] Business Segments - **Health Products**: Revenue remained flat at approximately 150 million yuan due to capacity constraints [7] - **Traditional Chinese Medicine**: Revenue from ginkgo biloba extract reached 20 million yuan, doubling year-on-year with a gross margin of 20% [7] Industry Outlook - For 2026, the industry is expected to gain upward momentum, with a potential supply-demand gap due to decreased planting area and production, which may drive prices up [8][9] - The chili red colorant industry is projected to maintain a growth rate of high single digits to around 10% [10] Cost Management and Competitive Advantage - The company is focusing on improving processes, optimizing efficiency, and global resource allocation to reduce costs and enhance competitive advantage [2][21] - Emphasis on customer service enhancement and product application development to increase customer stickiness and industry value [22] Regulatory Impact - The upcoming FDA ban on synthetic colorants is expected to take effect by the end of 2026. The company has developed natural colorant alternatives to comply with this regulation [22] Raw Material Supply Stability - The company employs a cross-cycle adjustment strategy to manage raw material supply, increasing reserves during surplus periods and adjusting procurement based on price levels [23] Research and Development - R&D expenses are expected to decrease in 2026 due to the completion of major projects in 2025, with a focus on enhancing customer service capabilities [20] Competitive Landscape - The company maintains a competitive edge through cost leadership in production and the development of high-quality, stable products, which increases customer switching costs [26] Future Growth Potential - Tomato lycopene is projected to have significant growth potential, with sales expected to increase from 40 million yuan in 2024 to 50-60 million yuan in 2025, driven by new applications in the food and beverage sector [25] Additional Important Information - Government subsidies remain stable at around 40-60 million yuan annually, providing financial support and cost offset [15] - The company has established a global presence with subsidiaries in India, Zambia, Myanmar, and the USA, focusing on various aspects of production and extraction [14]

Group 1: Market Developments - The Shanghai and Shenzhen Stock Exchanges have raised the minimum margin ratio for financing securities purchases from 80% to 100%, aimed at reducing leverage and protecting investor rights [2] - A-shares have seen record trading volumes, with total turnover exceeding 10 trillion yuan over three days, indicating a new bull market driven by sectors like AI, aerospace, and semiconductors [2][7] - Multiple A-share companies, including Baiwei Storage, have reported significant profit increases, with Baiwei Storage expecting a net profit growth of 427.19% to 520.22% by 2025 due to rising storage prices and growth in AI sectors [2][7] Group 2: Commodity Prices - Global metal prices have surged, with silver reaching $92 per ounce and gold hitting historical highs, driven by geopolitical risks and physical shortages [3][8] - Citigroup has raised its price targets for gold and silver, while Goldman Sachs has warned of short-term volatility risks in industrial metals [3][8] Group 3: Policy and Economic Signals - Six major economic ministries in China have outlined key policies for 2026, focusing on stabilizing growth, expanding domestic demand, and supporting technological innovation [3][9] - A tax refund policy for individuals selling and repurchasing homes has been extended, aimed at reducing transaction costs and promoting housing market circulation [4][9] Group 4: Cryptocurrency Trends - Bitcoin prices have reached a two-month high, driven by lower-than-expected core inflation in the U.S. and geopolitical tensions in Venezuela and Iran [3][9] Group 5: Corporate Actions - Minmetals Development has announced a major asset restructuring plan to acquire 100% stakes in Minmetals Mining and Luzhong Mining, aiming to enhance profitability and risk resilience [5][10] - Several AI concept stocks have issued risk warnings following significant price increases, with companies like Jinqiao Information and Zhejiang Data Culture clarifying the limited impact of AI on their main business [5][10]

Core Viewpoint - Today, 14 stocks received buy ratings from institutions, with 5 stocks being newly covered by analysts [1] Group 1: Institutional Ratings - A total of 14 buy ratings were issued today, with China National Duty Free and Oriental Yuhong receiving the highest attention, each having one buy rating record [1] - Among the rated stocks, 6 provided future target prices, with 5 stocks showing an upside potential exceeding 10%. China National Duty Free has the highest upside potential at 26.49%, with a target price of 113.90 yuan from Guojin Securities [1] - Other stocks with significant upside potential include Pudong Development Bank and Zhongding Co., with potential increases of 26.25% and 25.65%, respectively [1] - Five stocks received buy ratings for the first time, including Ningde Times and Wanyuantong [1] Group 2: Market Performance - Stocks with buy ratings averaged a 2.12% increase today, outperforming the Shanghai Composite Index. Seven stocks saw price increases, with Yonyou Network hitting the daily limit [1] - The top gainers included Dazhu CNC, Chenguang Biotech, and Wanyuantong, with increases of 12.32%, 5.67%, and 4.09%, respectively [1] - Stocks that experienced significant declines included Pudong Development Bank, China National Duty Free, and Yangtze Power, with decreases of 2.85%, 2.02%, and 2.01%, respectively [1] Group 3: Earnings Performance - Among the stocks rated as buy, two have reported annual earnings forecasts, with Pudong Development Bank and Yangtze Power showing net profit growth rates of 10.52% and 5.14%, respectively [2] - Five stocks have announced annual earnings forecasts, with Chenguang Biotech expected to see the highest net profit growth of 301.38%, followed by Dazhu CNC and Chaohongji with expected growth rates of 177.24% and 150.00%, respectively [2]

Group 1 - The agricultural processing sector increased by 0.82% on January 14, with Morning Light Biological leading the gains [1] - The Shanghai Composite Index closed at 4126.09, down 0.31%, while the Shenzhen Component Index closed at 14248.6, up 0.56% [1] - Key stocks in the agricultural processing sector showed varied performance, with Morning Light Biological rising by 5.67% to a closing price of 13.78 [1] Group 2 - The agricultural processing sector saw a net inflow of 260.95 million yuan from main funds, while retail investors experienced a net outflow of 8899.4 million yuan [2] - Major stocks like Jinlongyu and Zhongliang Sugar Industry had significant net inflows from main funds, amounting to 5739.86 million yuan and 5559.22 million yuan respectively [3] - Morning Light Biological had a notable retail net outflow of 8899.58 million yuan, despite a positive performance in main fund inflow [3]