证券代码：300761 证券简称：立华股份 公告编号：2024-054 江苏立华牧业股份有限公司 2024年半年度募集资金存放与使用情况的专项报告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有 虚假记载、误导性陈述或重大遗漏。 根据《上市公司监管指引第2号——上市公司募集资金管理和使用的监管要求》 （以下简称《监管要求》）、《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》（以下简称《规范运作》）有关规定，现将江苏立华牧业 股份有限公司（以下简称公司）2024年半年度募集资金存放与使用情况说明如下： 一、募集资金基本情况 （一）实际募集资金金额、资金到位时间 经中国证券监督管理委员会证监发行字〔2022〕257号文核准，并经深圳证券 交易所同意，本公司向特定对象程立力先生发行了普通股（A股）股票55,922,501股， 发 行 价 为 每 股 人 民 币 22.71 元。截至 2022 年 8 月 19 日 ， 本 公 司 共 募 集 资 金 1,269,999,997.71元，扣除承销及保荐费用人民币8,000,000.00元、其他与发行有关的 费用1,355,922 ...

| | | | | | 单位：万元 | 编制单位：江苏立华牧业股份有限公司 | | --- | --- | --- | --- | --- | --- | --- | | 占用方与上市公司 上市公司核算的 2024年期初占用 2024年半年度占用累计发 2024年半年度占用 的关联关系 会计科目 | | 2024年半年度偿还累 | 2024年6月期末占 用资金余额 | 占用形成 原因 | 占用性质 | 非经营性资金占用 资金占用方名称 | | 资金余额 生金额（不含利息） 资金的利息(如有) | | 计发生金额 | | | | | | | | | | | | 现大股东及其附属企业 | | | | | | | | 小计 | | | | | | | | 前大股东及其附属企业 | | | | | | | | 小计 | | | | | | | | 总计 | | 往来方与上市公司 上市公司核算的 2024年期初往来 2024年半年度往来累计发 2024年半年度往来 | | 2024年半年度偿还累 | 2024年6月期末往 | 往来形成 | 往来性质 | 其他关联资金往来 资金往来方名称 | | 的关联关系 会计科目 资 ...

证券代码：300761 证券简称：立华股份 公告编号：2024-055 江苏立华牧业股份有限公司 关于信用及资产减值损失确认和计量的公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有 虚假记载、误导性陈述或重大遗漏。 江苏立华牧业股份有限公司（以下简称公司）于 2024 年 7 月 31 日召开第 四届董事会第二次会议、第四届监事会第二次会议，会议审议并通过了《关于 信用及资产减值损失确认和计量的议案》。根据《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》（以下简称《规范运作》）、 《深圳证券交易所创业板上市公司自律监管指南第 1 号——业务办理》及会计 政策等相关规定的要求，基于谨慎性原则，为更加真实、准确反映公司 2024 年 6 月 30 日的资产状况与财务状况，公司对合并范围内截至 2024 年 6 月 30 日的 各类资产进行了充分的分析和评估，对可能发生减值损失的各类资产进行了减 值测试，并根据减值测试的结果计提减值准备。本次信用减值损失及资产减值 损失确认和计量将增加公司 2024 半年度利润总额 13,686.36 万元。具体情况公 告如下： 一、 ...

Investment Rating - The report maintains a "Buy" rating for the company [1] Core Insights - The company has achieved a turnaround in profitability in the first half of 2024, driven by improved cost management in chicken and pig farming [3][6] - The sales volume of yellow feathered chickens increased by 10.7% year-on-year, reaching 235 million, with revenue of 6.682 billion yuan, a growth of 11.4% [5] - The average selling price of yellow feathered chickens was 13.2 yuan/kg, a slight increase of 0.2% year-on-year [5] - The complete cost of raising yellow feathered chickens decreased by 13.48% year-on-year to 12.2 yuan/kg in the first half of 2024, primarily due to lower feed material costs [5] - The company expects continued price recovery for yellow chickens in the second half of the year, contributing to performance growth [5] Summary by Sections Sales and Revenue - In the first half of 2024, the company sold 43.49 million pigs, a year-on-year increase of 18.8%, with revenue of 0.835 billion yuan, up 44.2% [15] - The average selling price of pigs was 15.9 yuan/kg, reflecting a 7.1% increase year-on-year [15] - The company anticipates a total pig output of over 1.2 million for the year, supported by a stable production capacity of 1.8 million pigs [15] Profit Forecast - The company forecasts net profits attributable to shareholders of 0.831 billion yuan for 2024, representing a year-on-year increase of 289.99% [6] - Expected earnings per share (EPS) for 2024, 2025, and 2026 are projected at 1.00 yuan, 2.24 yuan, and 1.54 yuan respectively [6] - The price-to-earnings (P/E) ratios for the next three years are estimated at 23.01, 10.29, and 15.01 times [6] Cost Management - The company has successfully reduced costs in both chicken and pig farming, with significant improvements in profitability expected to continue [6][15] - The complete cost of pig farming decreased from 17.6 yuan/kg in Q1 to 14.8 yuan/kg in Q2 of 2024 [15]

Investment Rating - The investment rating for the company is "Outperform the Market" (maintained) [6][19]. Core Views - The company's yellow feather broiler business maintained a sales growth rate of over 10%, with continuous improvement in breeding costs. The pig farming business has seen a recovery, achieving profitability in Q2, leading to an approximate 200% year-on-year increase in net profit attributable to shareholders for H1 2024 [7][8]. - The report anticipates a resonance in the prosperity of yellow feather broilers and pigs in the second half of the year, driven by tight supply and improving demand. The supply of parent stock chickens has decreased by 2.38% year-on-year, maintaining a bottom level, while the pig price has been rising, which is expected to boost poultry demand [7][22]. - The company is positioned as a leading player in the domestic yellow chicken farming sector, with steady expansion in output and continuous cost improvements, likely benefiting from the recovery in livestock and poultry markets [10][19]. Summary by Sections Financial Performance - The company expects to achieve a net profit attributable to shareholders of between 5.50 billion to 6.00 billion yuan for H1 2024, representing a year-on-year increase of 192.97% to 201.42%. The net profit after excluding non-recurring gains and losses is expected to be between 5.15 billion to 5.65 billion yuan, an increase of 182.91% to 190.96% [20][21]. - The growth in profitability is attributed to a 10.69% year-on-year increase in yellow feather broiler output and improved breeding costs, alongside a recovery in the pig market, with increased sales volume and prices [8][20]. Supply and Demand Dynamics - The supply of parent stock chickens has been reduced due to a low market in 2023, with the current stock at 21.48 million sets, down 2.38% from the previous year. This tight supply, combined with improving demand from the pig market, is expected to drive up the prices of both pigs and poultry [22][7]. - The report highlights that the pig cycle has begun to show positive trends, which is anticipated to further stimulate demand for poultry products, particularly yellow feather broilers [22][7]. Profit Forecasts - The profit forecasts for the company have been revised upwards for 2024-2026, with expected net profits of 10.3 billion, 14.4 billion, and 8.9 billion yuan respectively, compared to previous estimates of 7.9 billion, 12.4 billion, and 8.3 billion yuan. The corresponding EPS is projected to be 1.24, 1.74, and 1.05 yuan, with current PE ratios of 18, 13, and 21 times [10][7].

证券代码:300761 证券简称:立华股份 江苏立华牧业股份有限公司 投资者关系活动记录表 | --- | --- | |------------------------|---------------------------------------------------------| | | ☐特定对象调研 | | | ☐媒体采访 | | 投资者关活动 | ☐新闻发布会 | | 类别 | | | | ☐现场参观 | | | 其他:与分析师就公司 | | 参与单位名称及人员姓名 | 中信证券 国盛证券 樊嘉敏;天风证券华创证券 陈鹏;浙商证券 | | 时间 | 2024年7月22日 19:00-22:00 | 地点 电话沟通 上市公司接待人 员姓名 董事会秘书 虞坚 一、公司经营情况概述 投资者关系活动 公司预计2024年1-6月实现归母净利润5.50-6.00亿元,实现扣非后净 利润5.15-5.65亿元。 主要内容介绍 2024年半年度,公司销售肉鸡(含毛鸡、屠宰品及熟制品)2.35亿只, 同比增长10.69%;销售肉猪43.49万头,同比增长18.83%;销售商品鹅96.05 万只,同比增长12.92 ...

Investment Rating - The report maintains a "Buy" rating for the company, with a target price of 30.32 CNY per share, indicating an expected performance that exceeds the market by more than 15% over the next 12 months [11][17]. Core Insights - The company has experienced a significant turnaround in Q2, with a projected net profit of approximately 5.5-6.0 billion CNY for the first half of 2024, representing a year-on-year increase of 193%-201%. The Q2 net profit is estimated to be around 4.7-5.2 billion CNY, driven by lower breeding costs and higher livestock prices [3][16]. - The company’s yellow chicken output has shown steady growth, with Q2 production reaching approximately 120 million birds, a year-on-year increase of about 10%. The average selling price for yellow chicken was around 13.5 CNY per kilogram, reflecting a 2% increase year-on-year [16]. - The scale of pig farming is rapidly increasing, with Q2 pig output estimated at 242,000 heads, an 88% year-on-year increase. The average price for pigs was approximately 16.9 CNY per kilogram, up 14% year-on-year [4][16]. Financial Summary - The company’s revenue for 2022 was 14.447 billion CNY, with projections of 15.354 billion CNY for 2023 and 17.130 billion CNY for 2024, indicating a growth rate of 29.8% in 2022 and a more modest 6.3% in 2023 [5][21]. - The EBITDA for 2022 was 1.719 billion CNY, with a significant drop to 472 million CNY in 2023, but expected to rebound to 1.929 billion CNY in 2024 [5][21]. - The net profit attributable to the parent company was 891 million CNY in 2022, projected to be -437 million CNY in 2023, and expected to recover to 1.255 billion CNY in 2024 [5][21]. Profitability Forecast - The forecasted net profits for 2024, 2025, and 2026 are 1.26 billion CNY, 1.71 billion CNY, and 2.30 billion CNY respectively, with corresponding EPS of 1.52 CNY, 2.07 CNY, and 2.78 CNY [16][21].

Financial Performance - The company expects to achieve a net profit of between 55,000 and 60,000 thousand RMB for the first half of 2024, representing a year-on-year increase of 192.97% to 201.42% compared to a loss of 59,159.06 thousand RMB in the same period last year [2]. - The net profit after deducting non-recurring gains and losses is projected to be between 51,500 and 56,500 thousand RMB, reflecting a year-on-year growth of 182.91% to 190.96% compared to a loss of 62,115.64 thousand RMB last year [2]. - The performance forecast is based on preliminary calculations by the company's finance department and has not been audited by an accounting firm [8]. - The detailed financial data will be disclosed in the company's half-year report for 2024 [9]. Operational Highlights - The company reported a 10.69% increase in the number of yellow feather broilers sold during the reporting period, contributing to improved profitability in the poultry segment [4]. - The pig farming segment has turned profitable in the second quarter due to a recovery in the pig market, with both the number of pigs sold and the average selling price increasing year-on-year [4]. - The company has seen a steady improvement in production efficiency and a month-on-month decrease in breeding costs in the pig farming segment [4]. Information Disclosure - The company emphasizes the importance of accurate and complete information disclosure, ensuring no false records or misleading statements [3].

证券代码：300761 证券简称：立华股份 公告编号：2024-049 江苏立华牧业股份有限公司 关于实际控制人及其一致行动人股份质押、解质押的公告 1 | 股东 | 是否为控股 股东或第一 | 本次解除 | 解质押股 | 占公司 | 是否为限 售股（如 | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | 质押数量 | 份占其所 | 总股本 | 是，注明 | 质押 | 解除 | 质权人 | | 名称 | 大股东及其 | | 持股份比 | | | 起始日 | 质押日 | | | | 一致行动人 | （股） | 例 | 比例 | 限售类 | | | | | | | | | | 型） | | | | | 常州市 | | | | | | | | | | 奔腾牧 | | | | | | | | | | 业技术 | | | | | | | | 中泰证券 | | 服务中 | 是 | 23,750,000 | 15.08% | 2.87% | 否 | 2022 年 8 | 2024 年 7 月 | 股份有限 | | | | | | | | ...

北京市中伦律师事务所 关于江苏立华牧业股份有限公司 2024 年第一次临时股东大会的 法律意见书 致：江苏立华牧业股份有限公司 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》及中国证券监督管理委员会发布的《上市公司股东大会规则》等规定， 北京市中伦律师事务所（以下简称本所）接受江苏立华牧业股份有限公司（以下 简称公司）的委托，指派本所律师对公司 2024 年第一次临时股东大会（以下简 称本次股东大会）进行见证并就相关事项出具本法律意见书。 为出具本法律意见书，本所律师查阅了公司提供的相关文件，包括但不限于： 1. 现行《江苏立华牧业股份有限公司章程》（以下简称《公司章程》）； 2. 公司于 2024 年 6 月 29 日刊登在深圳证券交易所网站（www.szse.cn）、 巨潮资讯网（www.cninfo.com.cn）的第三届董事会第二十五次会议决议公告、关 于召开本次股东大会的通知； 3. 公司本次股东大会股权登记日（2024 年 7 月 10 日）的股东名册、出席现 场会议的股东的到会登记记录及凭证资料； 4. 公司本次股东大会的会议文件。 1 法律意见书 在本法律意见书 ...