Major Events - ST Xifa plans to acquire 50% stake in Lhasa Beer for cash, aiming for 100% control, but the transaction is still in the planning stage and the company is in a pre-restructuring phase, facing potential bankruptcy risks [4] - *ST Sansheng received a total of 254 million yuan from all restructuring investors, with the funds paid by Hebei Jiheng Group and its designated financial investors [5] - Zhongshui Fishery's stock price deviated significantly, with a cumulative increase of over 100% in seven consecutive trading days, prompting a risk warning [6][7] - Dongzhu Ecology is involved in litigation with a total amount of 552 million yuan, with 16 undisclosed lawsuits amounting to 630 million yuan [8] - Zhongding Co. has become a supplier for two domestic liquid cooling system integrators, with an estimated project value of 15 million yuan [9] Share Buybacks - Petty Co. plans to repurchase shares worth 50 to 70 million yuan at a price not exceeding 26 yuan per share for employee stock ownership plans [10] - Huiding Technology repurchased 0.026% of its shares, totaling 120,000 shares at a price range of 78.76 to 80.08 yuan, amounting to 9.5728 million yuan [11] Shareholding Changes - Jianghuai Micro's chairman reduced his stake by 1.23%, selling 4.7584 million shares, bringing his holding down to 15.40% [12] - Lege Co.'s controlling shareholder plans to increase its stake by 40 to 80 million yuan, with a purchase price not exceeding 25 yuan per share [13] Major Contracts - Tongji Technology's subsidiary won a construction project in Xi'an worth 866 million yuan, with a total construction area of approximately 105,400 square meters [14] - Guangdong Construction signed a contract for an energy storage power station project worth 1.888 billion yuan, with a construction period of 120 days [15] - Jinguang Electric is a candidate for a procurement project from the State Grid, with a bid amount of 32.32 million yuan, which is expected to positively impact future performance [16] - Wansheng Intelligent is a candidate for a State Grid project with an estimated bid amount of 42.9866 million yuan, representing 4.56% of its audited revenue for 2024 [17]

Group 1 - The company Petty Co. announced on November 24 that it plans to repurchase its shares through centralized bidding, with a total repurchase amount of no less than RMB 50 million and no more than RMB 70 million [1] - The repurchase price will not exceed RMB 26.00 per share [1] - The repurchased shares will be used for equity incentives or employee stock ownership plans, with a repurchase period of six months from the date the board of directors approves the repurchase plan [1]

Group 1: Financial Products and Investment Performance - The issue of inflated returns on bank wealth management products has gained significant attention, with many investors reporting discrepancies between advertised and actual returns [1] - Industry experts call for standardized performance displays and emphasize the need for investors to develop a more professional and rational understanding of performance benchmarks [1] - Liang Hong, a prominent private equity manager, publicly apologized for underperforming against major indices, attributing the decline to three main factors: heavy investments in innovative drugs, hardware companies, and stablecoin stocks [1][2] Group 2: Robotics and Electric Vehicles - The Ministry of Industry and Information Technology announced the establishment of a standardization committee for humanoid robots, with representatives from several listed companies included [2] - According to TrendForce, global sales of new energy vehicles reached 5.39 million units in Q3 2025, marking a 31% year-on-year increase, with battery electric vehicles (BEVs) growing by 48% [2] Group 3: Corporate Developments and Investments - Tuozhu denied reports of Tencent's investment in its latest funding round, stating that no current financing is taking place [3] - Jiangxi Changyun announced plans to publicly transfer land use rights and assets for 7.787 million yuan [5] - Longqi Technology's subsidiary plans to invest 30 million yuan in a venture capital fund focused on the intelligent industry [6] - Jusaylong intends to increase its subsidiary's capital by 170 million yuan through a debt-to-equity swap [7] - ST Sansheng received 254 million yuan from restructuring investors [8] - Lege Co., Ltd. plans to repurchase shares worth 40 to 80 million yuan [9] - Petty Co., Ltd. announced a share buyback plan of 50 to 70 million yuan [11] Group 4: Market Performance - The market showed a rebound with all major indices closing in the green, driven by strong performances in the aerospace, military, and AI application sectors [15] - The total trading volume in the Shanghai and Shenzhen markets was 1.73 trillion yuan, reflecting a decrease from the previous trading day [15]

Group 1 - Huafeng Co., Ltd. announced a stock suspension due to a potential change in control after signing a share transfer intention agreement [1] - Keshida plans to reduce its shareholding by up to 424,000 shares, representing 0.07% of its total share capital [1] - Jinqilin intends to distribute a cash dividend of 0.10 yuan per share, totaling 19.61 million yuan [1] Group 2 - Rejingshi Biotech has repurchased 904,100 shares, accounting for 0.98% of its total share capital, with a total expenditure of 150 million yuan [2] - Yishitong has repurchased 1,236,500 shares, representing 0.619% of its total share capital, with a total expenditure of approximately 33.49 million yuan [2] Group 3 - Hanjia Design announced the release of a detention on its subsidiary's chairman, allowing him to resume duties [4] - Qingmu Technology plans to acquire 65.83% of Vitalis Pharma AS for 300 million Norwegian Krone (approximately 212 million yuan) [4] - Anda Intelligent's shareholder plans to reduce its stake by up to 2.74% [4] Group 4 - Wansheng Intelligent is a candidate for a project with a pre-bid amount of approximately 42.99 million yuan, representing 4.56% of its audited revenue for 2024 [4] - Yipin Hong received a drug registration certificate for a medication used to treat Alzheimer's symptoms [4] Group 5 - *ST Sansheng received a total of 254 million yuan from restructuring investors [4] - Haichuang Pharmaceutical received approval for clinical trials of HP518 tablets for advanced prostate cancer treatment [4] Group 6 - Ningbo Huaxiang's subsidiary plans to invest 5 million yuan in a venture capital fund focusing on intelligent industries [4] - Petty Co. plans to repurchase shares worth 50 to 70 million yuan [4] Group 7 - Tongji Technology's subsidiary won a construction project with a bid price of 866 million yuan [4] - Prolo Pharmaceutical received a drug registration certificate for a generic drug [4] Group 8 - Jingyan Technology plans to use up to 1.6 billion yuan of idle funds for financial management [4] - Furan De received government subsidies totaling 34.65 million yuan [4] Group 9 - David Medical's subsidiary's medical device registration has been accepted [4] - Jusaylong plans to increase its subsidiary's capital by 170 million yuan through debt-to-equity conversion [4] Group 10 - Heng Rui Pharmaceutical's application for a drug license has been accepted by the National Medical Products Administration [4] - Lege Co. plans to increase its stake in the company by 40 to 80 million yuan [4] Group 11 - New Beiyang's subsidiary won a project with the Bank of Communications [4] - Jiangxi Changyun plans to publicly transfer land use rights and buildings with a starting price of 7.79 million yuan [4] Group 12 - Shenqi Pharmaceutical's subsidiary has paid approximately 16.67 million yuan in tax and penalties [4] - Panjiang Co. plans to invest 1.334 billion yuan in a power plant project [4] Group 13 - Fashilong's vice president resigned for personal reasons [4] - Chunxue Food received government subsidies of 3.79 million yuan [4] Group 14 - China Galaxy completed the repayment of a short-term financing bond totaling 3.025 billion yuan [4] - Jiuzhou Pharmaceutical received approval for a chemical raw material drug [4] Group 15 - Longqi Technology's subsidiary plans to invest 30 million yuan in a venture capital fund [4]

2. 回购价格：不超过26.00元/股。 3. 回购数量：以回购价格上限26.00元/股为基准，以回购资金总额下限5000万元测算，预计回购数量为 192.31万股，占公司当前已发行股本总额（2.49亿股）的0.7728%；以回购资金总额上限7000万元测 算，预计回购数量为269.23万股，占公司当前已发行股本总额的1.0820%。具体回购数量以回购结束时 实际回购的股份数量为准，最小回购单位为100股。 格隆汇11月24日丨佩蒂股份(300673.SZ)公布,经公司董事会批准，公司拟使用自有资金以集中竞价交易 方式回购公司部分社会公众股，主要内容如下： 1. 回购资金总额：不少于人民币5000万元（含）且不超过人民币7000万元（含）。 ...

佩蒂股份（300673）(300673.SZ)公告，公司拟使用自有资金以集中竞价交易方式回购公司部分社会公 众股，回购资金总额不少于人民币5000万元(含)且不超过人民币7000万元(含)，回购价格不超过26.00元/ 股。回购期限自董事会审议通过本回购方案之日起不超过六个月。 ...

| 证券代码：300673 | 证券简称：佩蒂股份 | 公告编号：2025-058 | | --- | --- | --- | | 债券代码：123133 | 债券简称：佩蒂转债 | | 佩蒂动物营养科技股份有限公司 回购方案的主要内容 经佩蒂动物营养科技股份有限公司（以下简称公司）董事会批准，公司拟使用自 有资金以集中竞价交易方式回购公司部分社会公众股，主要内容如下： 1. 回购资金总额：不少于人民币5,000万元（含）且不超过人民币7,000万元（含）。 2. 回购价格：不超过26.00元/股。 3. 回购数量：以回购价格上限26.00元/股为基准，以回购资金总额下限5,000万 元测算，预计回购数量为192.3077万股，占公司当前已发行股本总额（24,883.0340 万股，下同）的0.7728%；以回购资金总额上限7,000万元测算，预计回购数量为 269.2308万股，占公司当前已发行股本总额的1.0820%。具体回购数量以回购结束时 实际回购的股份数量为准，最小回购单位为100股（1手，下同）。 4. 回购期限：自董事会审议通过本回购方案之日起不超过六个月。 5. 回购股份的用途：用于股权激励或 ...

| 证券代码：300673 | 证券简称：佩蒂股份 | 公告编号：2025-057 | | --- | --- | --- | | 债券代码：123133 | 债券简称：佩蒂转债 | | 佩蒂动物营养科技股份有限公司 关于完成公司治理架构调整的公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、误导 性陈述或者重大遗漏。 一、职工代表监事离任情况 2025 年 11 月 12 日，佩蒂动物营养科技股份有限公司（以下简称公司）召开 2025 年第一次临时股东大会，批准了公司关于治理结构调整并同步修订《公司章程》等相 关议案。具体内容见公司于 2025 年 10 月 28 日在巨潮资讯网披露的《关于调整治理 架构和修订<公司章程>及其附件的公告》等相关公告。 根据修订后的《公司章程》，公司不再设置监事会，由董事会审计委员会行使《公 司法》规定的监事会的职权。公司第四届监事会的三名成员原定任期三年，自 2024 年 1 月 19 日始至本届监事会届满之日止。本次调整后，监事会非职工代表监事已自 动从监事岗位离任。 三、选举代表公司执行公司事务的董事及法定代表人情况 2025 年 11 月 24 ...

| 证券代码：300673 | 证券简称：佩蒂股份 | 公告编号：2025-056 | | --- | --- | --- | | 债券代码：123133 | 债券简称：佩蒂转债 | | 佩蒂动物营养科技股份有限公司 第四届董事会第十六次会议决议公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、误导 性陈述或者重大遗漏。 一、会议召开情况 为适应公司发展需要，提高治理水平，根据《公司法》（2023 年修订）和《公司 章程》的有关规定，选举董事长陈振标先生担任代表公司执行公司事务的董事，并担 任公司的法定代表人，任期与公司第四届董事会相同。 本议案的具体内容见公司与本公告同日在巨潮资讯网披露的《关于完成公司治理 架构调整的公告》。 表决结果：赞成票 7 票，反对票 0 票，弃权票 0 票，议案获得通过。 （二） 审议通过《关于重新选举审计委员会的议案》 根据《公司章程》的相关规定，公司董事会审计委员会行使《公司法》规定的监 事会的职权，董事会重新选举了审计委员会成员及其召集人。经董事会选举，李路先 生（会计专业独立董事）、余飞涛女士（独立董事）、陈振录先生（非独立董事）担任 审计委员会委 ...

Core Insights - The report maintains a positive outlook on the agricultural sector, particularly in the pig farming and pet food industries, highlighting potential growth opportunities and ongoing challenges in supply and pricing [2][4][6]. Pig Farming - The pig farming sector is experiencing a downward trend in prices, with the average price of live pigs at 11.60 CNY/kg as of November 20, reflecting a week-on-week decrease of 2.11% [29][30]. - The number of breeding sows has decreased, with a reported month-on-month decline of 0.77% in October, indicating ongoing supply pressures [20][6]. - Profitability remains a concern, with losses reported at -135.90 CNY per head for self-bred pigs and -234.63 CNY per head for purchased piglets as of November 21 [33][38]. Poultry Farming - The poultry sector is seeing a rise in white chicken prices, with an average price of 7.15 CNY/kg as of November 21, up 0.42% week-on-week [39][36]. - The outbreak of avian influenza in overseas markets is creating uncertainty in the supply chain, which may benefit the white feather chicken industry in the long term [36][37]. Animal Health - The animal health industry is expected to rebound as demand for biological products increases, driven by a recovery in livestock profitability and inventory levels [44]. - Recent developments in vaccine research, particularly for African swine fever, are anticipated to stimulate interest in the sector [44]. Seed Industry - The prices of key agricultural commodities such as wheat and corn have shown slight increases, with wheat averaging 2505 CNY/ton and corn at 2280 CNY/ton as of November 21 [47]. - The report emphasizes the importance of enhancing food security and promoting the adoption of biotechnology in the seed industry [47]. Pet Industry - The pet food market is experiencing robust growth in domestic sales, with e-commerce sales up 19% year-on-year in October [55]. - Notable performance during the Double Eleven shopping festival indicates a strong market presence for domestic brands, with significant sales increases reported for several companies [56]. - Export figures for pet food show a decline, with October exports at 772 million CNY, down 15.9% year-on-year, but the impact of tariff disruptions is expected to be limited [54][52].