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。 温氏食品集团股份有限公司（以下简称"公司"）第五届董 事会第七次会议审议通过了《关于部分募集资金投资项目结项 的议案》，同意滁州温氏晶宝食品有限公司生猪屠宰项目等 3 个 募投项目结项。具体情况如下： 一、本次结项项目基本情况 （一）已履行的审批程序 温氏食品集团股份有限公司 | 证券代码：300498 | 证券简称：温氏股份 | 公告编号：2025-96 | | --- | --- | --- | | 债券代码：123107 | 债券简称：温氏转债 | | 温氏食品集团股份有限公司 关于部分募集资金投资项目结项的公告 公司 2021 年第二次临时股东大会审议通过了《关于变更部 分募集资金投资项目的议案》，同意公司将 3 个一体化募投项目 变更为滁州温氏晶宝食品有限公司生猪屠宰项目等 21 个项目。 公司 2022 年度股东大会审议通过了《关于变更部分募集资 金使用计划的议案》，同意公司将可转债募集资金中未有对应募 投项目的部分募集资金 62,500 万元用于蓝山温氏畜牧有限公司 厚冲现代生猪养殖小区建设项目、渠 ...

温氏食品集团股份有限公司 | 证券代码：300498 | 证券简称：温氏股份 | 公告编号：2025-93 | | --- | --- | --- | | 债券代码：123107 | 债券简称：温氏转债 | | 温氏食品集团股份有限公司 第五届董事会第七次会议决议公告 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。 温氏食品集团股份有限公司（以下简称"公司"）第五届董 事会第七次会议通知于 2025 年 7 月 10 日以书面和电话的形式 通知公司全体董事。会议于 2025 年 7 月 15 日 14:30 在公司总部 21 楼会议室以现场表决的方式召开。应出席会议的董事有 12 名， 实际出席会议的董事有 12 名。会议由董事长温志芬先生主持， 公司监事列席了本次会议。本次会议的召集、召开和表决程序均 符合《公司法》、《公司章程》及相关法律法规的规定。经与会董 事认真审议，会议以记名投票表决的方式通过了以下议案： 本议案涉及关联交易，关联董事严居然、赵亮回避表决。 表决结果：同意 10 票，反对 0 票，弃权 0 票。 二、审议通过了《关于部分募集资金投资项 ...

中国国际金融股份有限公司 关于温氏食品集团股份有限公司 部分募集资金投资项目结项的核查意见 中国国际金融股份有限公司（以下简称"保荐机构"）作为温氏食品集团股份有限 公司（以下简称"公司"）创业板向不特定对象发行可转换公司债券的保荐机构，根据 《证券发行上市保荐业务管理办法》《上市公司募集资金监管规则》《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》等相关法律法规的规定，对公司部分募集资金投资项目结项事项进行了 审慎核查，具体情况如下： 一、 本次结项项目基本情况 （一）已履行的审批程序 公司 2021 年第二次临时股东大会审议通过了《关于变更部分募集资金投资项目的 议案》，同意公司将 3 个一体化募投项目变更为滁州温氏晶宝食品有限公司生猪屠宰项 目等 21 个项目。 公司 2022 年度股东大会审议通过了《关于变更部分募集资金使用计划的议案》， 同意公司将可转债募集资金中未有对应募投项目的部分募集资金 62,500 万元用于蓝山 温氏畜牧有限公司厚冲现代生猪养殖小区建设项目、渠县温氏畜牧有限公司总部项目等 8 个项目的建设。 截至 2025 ...

温氏食品集团股份有限公司 关于与专业投资机构及关联方共同投资暨关联 交易的公告 温氏食品集团股份有限公司 | 证券代码：300498 | 证券简称：温氏股份 公告编号：2025-95 | | --- | --- | | 债券代码：123107 | 债券简称：温氏转债 | 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。 温氏食品集团股份有限公司（以下简称"公司"）的全资子公 司广东温氏投资有限公司（以下简称"温氏投资"）拟与公司关联 方暨专业投资机构温润（珠海）私募基金管理合伙企业（有限合 伙）（以下简称"温润投资"）、关联方严广宽、严广洪，专业 投资机构云南省高原特色农业股权投资基金合伙企业（有限合伙） （以下简称"云南省农业基金"）、横琴粤澳深度合作区产业投 资基金（有限合伙）（以下简称"横琴粤澳产投基金"）等共同 投资温润生物制造创业投资基金合伙企业（有限合伙）（以下简 称"温润生物制造基金"）。温氏投资拟本次以自有资金出资不 超过 16,000 万元。 本次交易不构成《上市公司重大资产重组管理办法》规定的 重大资产重组。根据《公司章程》规定，本次关联交易 ...

| | | 温氏食品集团股份有限公司 | | --- | --- | --- | | 证券代码：300498 | 证券简称：温氏股份 | 公告编号：2025-94 | | 债券代码：123107 | 债券简称：温氏转债 | | 温氏食品集团股份有限公司 第五届监事会第六次会议决议公告 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。 温氏食品集团股份有限公司（以下简称"公司"）第五届监事 会第六次会议于 2025 年 7 月 10 日以书面和电话的形式通知公 司全体监事，会议于 2025 年 7 月 15 日 15:00 在总部 19 楼会议 室以现场表决的方式召开。应出席会议的监事有 6 人，实际出席 会议的监事有 6 人。会议由公司监事会主席温少模先生主持。本 次会议的召集、召开和表决程序符合法律、法规和《公司法》、 《公司章程》的有关规定。经与会监事认真审议，会议以记名投 票表决的方式通过了如下议案： 一、审议通过了《关于与专业投资机构及关联方共同投资暨 关联交易的议案》 经审核，监事会认为，公司董事会在审议本项关联交易时， 关联董事回避了表决，董事会的决 ...

Investment Ratings - The report provides investment ratings for several companies in the agriculture sector, with "Buy-A" for Haida Group (002311.SZ), "Buy-B" for Shennong Development (002299.SZ) and Wens Foodstuff Group (300498.SZ), and "Hold-A" for Guai Bao Pet (301498.SZ) and Zhongchong Co., Ltd. (002891.SZ) [2] Core Insights - The agriculture sector has shown resilience, with the agricultural index outperforming the broader market, indicating potential investment opportunities [3][4] - The report highlights the cyclical nature of the pig farming industry, emphasizing that the current downturn may not necessarily lead to prolonged losses due to potential recovery in raw material costs and macro demand in 2025 [5][6] - Haida Group is identified as a key investment opportunity due to its strong fundamentals and potential growth in overseas feed business [4][5] Industry Performance - The agriculture sector's performance for the week of July 7-13 shows a 1.09% increase, with top-performing sub-industries including fruit and vegetable processing, meat chicken farming, and feed production [3][22] - The average price of live pigs in key provinces has decreased, with prices in Sichuan, Guangdong, and Henan at 14.35, 16.39, and 14.78 CNY/kg respectively, reflecting a decline of 3.37%, 6.56%, and 2.31% week-on-week [4][31] - The average pork price has slightly increased to 20.60 CNY/kg, while the average wholesale price of piglets has decreased to 26.00 CNY/kg, indicating mixed trends in the market [4][31] Company-Specific Analysis - Haida Group is expected to benefit from a recovery in the feed industry as raw material prices stabilize and the breeding sector improves [4][5] - Wens Foodstuff Group, Shennong Group, and Juxing Agriculture are recommended for their potential to outperform market expectations as the pig farming industry enters a profitability cycle [5] - Guai Bao Pet and Zhongchong Co., Ltd. are highlighted for their strong brand positioning and growth potential in the pet food market, particularly in 2025 [6]

Core Viewpoint - The collaboration between South China Agricultural University and Yunfu City aims to enhance investment cooperation in agriculture and related sectors, promoting a new model of integration between academia, government, and industry [2][3][8]. Group 1: Event Overview - The "Investment Matching and Exchange Conference" was held on July 10, co-hosted by South China Agricultural University and Yunfu City Government, with over 200 representatives from more than 140 alumni enterprises attending [2][5]. - The conference focused on aligning demands and promoting investment cooperation in areas such as specialty agricultural industrialization, deep processing of agricultural products, and ecological cultural tourism [3][4]. Group 2: Strategic Goals - The university aims to strengthen the integration of production, education, and research, talent cultivation, platform construction, and collaboration between government and academia through four main pathways [7]. - The goal is to create a new development model that integrates "universities + government + alumni + industry," leveraging alumni networks to foster deeper and broader cooperation with Yunfu City [8][9]. Group 3: Local Government Support - Yunfu City expressed its commitment to providing an optimal business environment for alumni enterprises, ensuring they can effectively operate and succeed in the region [11][12]. - The local investment promotion bureau highlighted the advantages of the agricultural industry in Yunfu and the supportive policies available for investors [15][16]. Group 4: Collaboration Outcomes - Representatives from alumni enterprises, including Wens Foodstuff Group, shared successful experiences of collaboration between schools, companies, and farmers [19]. - Several projects reached cooperation intentions during the conference, with participants emphasizing the role of alumni networks in advancing the high-quality development of modern agriculture in Yunfu [21][22].

Investment Rating - The industry rating is maintained as "Increase" [4] Core Views - In the second quarter of 2025, the average price of live pigs is expected to be 14.5 CNY/kg, a decrease of 4.6% from the previous quarter and 11.4% year-on-year. However, due to the decline in raw material prices and improved breeding performance, listed companies are optimizing costs [15][16] - The poultry sector is facing challenges, with yellow feathered chicken prices remaining low at an average of 11.3 CNY/kg, down 2.4% quarter-on-quarter and 15.5% year-on-year. The profitability of leading companies like Wen's Group may be under pressure due to these price declines [15][16] - The feed sector is benefiting from stable pig prices and rising aquatic product prices, with Haida Group expected to achieve a feed sales volume of approximately 13.65 million tons in the first half of 2025, a year-on-year increase of about 26% [15][16] Summary by Sections Livestock Farming - The national price of lean meat pigs is 14.54 CNY/kg, down 2% from last week. The current valuation remains relatively low, with a focus on leading companies and low-cost high-growth targets such as Muyuan Foods and Wen's Group [2][16] - The average price of white feathered chickens is 6.24 CNY/kg, down 7.6% from last week, while chicken product prices average 8.38 CNY/kg, down 0.9% [16][30] - The price of parent stock chicken chicks is 47.2 CNY/set, up 1% week-on-week, while the price of meat chicken chicks is 0.99 CNY each, down 27.2% [26][28] Feed Sector - Haida Group is expected to achieve a net profit of 1.218-1.518 billion CNY in the second quarter, with a year-on-year change of -3.64% to +20.1% [15][16] - The pet feed industry continues to maintain high growth, with expectations for Zhongchong Group to achieve a net profit of approximately 120 million CNY in the second quarter, a year-on-year increase of about 40% [15][16] Agricultural Products - The approval of genetically modified varieties is expected to lead to commercial sales, with potential growth for industry companies as actual transaction prices and profit distribution are confirmed [16] - The fluctuation of agricultural product prices is increasing, and leading feed companies are expected to replace smaller companies due to their advantages in procurement, scale, and capital [16]

Core Viewpoint - The article discusses the recent decline in pig prices and the overall performance of the pig farming industry, highlighting changes in supply, demand, and pricing dynamics [3][4]. Group 1: Pig Price Trends - As of July 11, the average price of external three yuan pigs in China was 14.81 yuan/kg, reflecting a week-on-week decrease of 3.52%. The average price for 15 kg piglets was 31.89 yuan/kg, showing a week-on-week increase of 1.79% [3]. - The average weight of market pigs sold this week was 129.03 kg, which is an increase of 0.39 kg compared to the previous week. The national frozen product inventory rate rose to 14.31%, up by 0.08 percentage points [3]. Group 2: June Sales Report Analysis - In June, 13 listed pig companies collectively sold 16.2681 million pigs, representing a month-on-month increase of 2.65% and a year-on-year increase of 47.55%. Major companies like Muyuan, Wens, and New Hope saw varying changes in their sales volumes [4]. - The total number of market pigs sold in June was approximately 13.5449 million, with a month-on-month increase of 3.30% and a year-on-year increase of 43.36%. The sales of piglets decreased slightly by 1.90% month-on-month but increased by 74.14% year-on-year [4]. - The average selling price of market pigs decreased due to inventory reduction, with most companies experiencing a price drop of less than 3% month-on-month and approximately 20% year-on-year [4]. Group 3: Weight and Pricing Dynamics - The average weight of market pigs sold in June was 125.06 kg, down by 0.77 kg month-on-month, indicating a trend towards reducing weight as companies adjust to market conditions [4]. - The average selling price varied among companies, with the lowest at 13.23 yuan/kg and the highest at 15.57 yuan/kg, with most companies maintaining prices between 14-15 yuan/kg [4].

Investment Rating - The report maintains a "Positive" investment rating for the agricultural sector, particularly emphasizing the pig farming industry as a key area for investment opportunities [2][4]. Core Insights - The report highlights the ongoing "anti-involution" trend in the pig farming industry, suggesting that this will lead to improved profitability and stability for leading pig farming companies. It recommends focusing on high-quality pig farming enterprises with excellent cost management [3][4]. - The report notes a 1.1% increase in the Shenwan Agricultural, Forestry, Animal Husbandry, and Fishery Index, outperforming the 0.8% rise in the CSI 300 Index during the week [3][4]. - The report emphasizes the importance of monitoring the mid-year performance of the pet food industry, which is expected to show growth despite potential impacts from U.S.-China trade tensions [3][4]. Summary by Sections Pig Farming - The average weight of pigs sold by listed companies decreased in June, with a national average of 128.6 kg, down 0.9 kg from May. The report indicates that the industry is responding positively to policies aimed at stabilizing production and reducing inventory [3][4]. - The average price of live pigs as of July 13 was 14.69 yuan/kg, reflecting a week-on-week decrease of 1.7% [3][4]. Poultry Farming - The report notes a seasonal decline in chick prices, with the average price of white feather broiler chicks at 0.81 yuan/chick, down 29.0% week-on-week. The average price of broiler chickens was 3.05 yuan/kg, down 9.5% [3][4]. - It anticipates a rebound in chick prices as the market adjusts to avoid overproduction during the hottest months [3][4]. Pet Food Industry - The pet food sector saw online sales reach 12.26 billion yuan from January to May 2025, a year-on-year increase of 17%. Despite challenges from trade tensions, the long-term growth potential of domestic brands remains strong [3][4]. Animal Health - The report indicates a 15.8% year-on-year increase in vaccine approvals, with 9,128 batches approved from January to May 2025. This reflects a recovery in demand for animal health products as profitability in livestock farming stabilizes [3][4]. Stock Performance - The report lists the top-performing stocks in the agricultural sector, with Guotou Zhonglu leading at a 61.1% increase, followed by Zhenghong Technology at 15.1% and Jinhai Biological at 11.1% [3][4]. Conversely, the worst performers included Guobao Pet at -15.9% and Zhongchong Co. at -7.4% [3][4].