Core Viewpoint - Yike Foods, a major poultry slaughtering and processing enterprise in China, has shown strong revenue performance but faces challenges with profitability and high debt levels [1][2][3]. Group 1: Company Overview - Yike Foods was established on August 7, 2008, and listed on the Shenzhen Stock Exchange on January 18, 2022, with its headquarters in Suqian, Jiangsu Province [1]. - The company operates across the entire poultry industry chain, including slaughtering, processing, feed production, and sales of poultry products [1]. Group 2: Financial Performance - For Q3 2025, Yike Foods reported revenue of 13.678 billion yuan, ranking second among eight companies in the industry, while the industry leader, Shengnong Development, reported 14.706 billion yuan [2]. - The net profit for the same period was -303 million yuan, placing Yike Foods last in the industry, with Shengnong Development achieving a net profit of 1.172 billion yuan [2]. Group 3: Financial Ratios - As of Q3 2025, Yike Foods had a debt-to-asset ratio of 70.38%, significantly higher than the industry average of 50% [3]. - The gross profit margin for the same period was 1.77%, which is below the industry average of 11.25% [3]. Group 4: Executive Compensation - The chairman and general manager, Tian Liyu, received a salary of 1.0475 million yuan in 2024, an increase of 330,500 yuan from the previous year [4]. Group 5: Shareholder Information - As of September 30, 2025, the number of A-share shareholders decreased by 11.78% to 12,400, while the average number of shares held per shareholder increased by 13.36% to 36,200 [5]. - The top ten circulating shareholders include the Guotai Zhongzheng Livestock Breeding ETF, which increased its holdings by 1,008,300 shares [5]. Group 6: Market Outlook - The company experienced a decline in net profit of 191% year-on-year in Q1 2025, with a revenue drop of 4.80% in 2024 [5]. - Despite challenges, the company is expected to maintain expansion in slaughtering capacity and improve gross margins, with projected net profits of 50 million yuan in 2025 and 90 million yuan in 2026 [5].

Core Viewpoint - Yike Foods (301116.SZ) reported a decline in revenue and a net loss for the first three quarters of 2025, indicating financial challenges faced by the company [1] Financial Performance - The company's operating revenue for the first three quarters was 13.678 billion yuan, representing a year-on-year decrease of 10.97% [1] - The net loss attributable to shareholders of the listed company was 288 million yuan [1] - The net loss attributable to shareholders, excluding non-recurring gains and losses, was 316 million yuan [1] - The basic loss per share was 0.6421 yuan [1]

证券代码：301116 证券简称：益客食品 公告编号：2025-046 江苏益客食品集团股份有限公司 关于公司 2025 年第三季度计提信用及资产减值准备 和核销资产的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 江苏益客食品集团股份有限公司（以下简称"公司"）于 2025 年 10 月 28 日召开第三届董事会第十九次会议，审议通过了《关于公司 2025 年第三季度计 提信用及资产减值准备和核销资产的议案》，该议案无需提交公司股东会审议， 现将具体内容公告如下： 一、本次计提信用及资产减值准备和核销资产情况概述 1、本次计提减值准备及核销资产的原因 为客观反映公司财务状况，依据《企业会计准则》等相关规定，公司及子公 司对合并报表范围内截至 2025 年 9 月 30 日的应收票据、应收款项（包括合同资 产）、存货、固定资产、无形资产等资产进行了减值测试，认为上述部分资产存 在一定的减值迹象，基于谨慎性原则，公司对可能存在减值迹象的资产计提减值 损失；部分应收款项已无回收的可能性，根据相应的规定进行核销。 2、本次计提减值准备的资产范围和总金额 公司及 ...

证券代码：301116 证券简称：益客食品 公告编号：2025-047 江苏益客食品集团股份有限公司 关于增加2025年度日常关联交易主体及额度的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有 虚假记载、误导性陈述或重大遗漏。 一、日常关联交易的基本情况 （一）日常关联交易概述 江苏益客食品集团股份有限公司（以下简称"公司"）于 2024 年 12 月 9 日召开了第三届董事会第十六次会议及第三届监事会第十五次会议，审议通过了 《关于 2025 年度日常关联交易预计的议案》，关联董事田立余、公丽云回避表决， 预计 2025 年度日常关联交易总额不超过 30,835.00 万元，其中关联销售金额 28,000.00 万元，关联租赁金额 2,835.00 万元。上述议案于 2024 年 12 月 25 日经 公司 2024 年第五次临时股东会审议通过。具体内容详见公司于 2024 年 12 月 10 日在巨潮资讯网（http://www.cninfo.com.cn）上披露的《关于 2025 年度日常关联 交易预计的公告》（公告编号：2024-095）。 公司于 2025 年 4 月 22 日 ...

证券代码：301116 证券简称：益客食品 公告编号：2025-044 江苏益客食品集团股份有限公司 第三届董事会第十九次会议决议公告 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。 一、董事会会议召开情况 江苏益客食品集团股份有限公司（以下简称"公司"）第三届董事会第十九 次会议于 2025 年 10 月 28 日以现场会议与线上会议结合的方式召开，会议通知 已于 2025 年 10 月 17 日以电子邮件形式送达公司全体董事。本次董事会会议由 副董事长公丽云女士主持（董事长田立余先生因外地出差，以线上方式出席）， 会议应出席董事 9 名，实际出席董事 9 名。公司高级管理人员列席了会议。本次 会议的通知、召集、召开和表决程序符合《中华人民共和国公司法》（以下简称 "《公司法》"）等相关法律法规以及《江苏益客食品集团股份有限公司章程》 （以下简称"《公司章程》"）《江苏益客食品集团股份有限公司董事会议事规 则》（以下简称"《董事会议事规则》"）等制度的有关规定，会议合法有效。 二、董事会会议审议情况 会议以记名投票的方式表决通过了相关议案并形成如下决议： （ ...

中信证券股份有限公司 关于江苏益客食品集团股份有限公司 增加 2025 年度日常关联交易主体及额度的核查意见 中信证券股份有限公司（以下简称"中信证券"或保荐人）作为江苏益客食品 集团股份有限公司（以下简称"益客食品"或"公司"）首次公开发行股票并在创业 板上市的保荐人。根据《公司法》、《深圳证券交易所创业板股票上市规则》、《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、 规范性文件及《公司章程》等相关规定，对益客食品增加 2025 年度日常关联交 易主体及额度的事项进行了审慎核查，并出具核查意见如下： 一、日常关联交易的基本情况 （一）日常关联交易概述 益客食品于 2024 年 12 月 9 日召开了第三届董事会第十六次会议及第三届监 事会第十五次会议，审议通过了《关于 2025 年度日常关联交易预计的议案》，关 联董事田立余、公丽云回避表决，预计 2025 年度日常关联交易总额不超过 30,835.00 万元，其中关联销售金额 28,000.00 万元，关联租赁金额 2,835.00 万元。 上述议案于 2024 年 12 月 25 日经公司 2024 年第五次临时股东会审 ...

Financial Performance - Q3 2025 revenue decreased by 6.92% year-on-year to CNY 4,931,141,240.87, and year-to-date revenue decreased by 10.97% to CNY 13,678,368,705.04[5] - Net loss attributable to shareholders was CNY -107,028,545.25, a decline of 544.10% year-on-year, with a year-to-date loss of CNY -288,278,966.68, down 304.43%[5] - Basic and diluted earnings per share were both CNY -0.2384, reflecting a decrease of 497.33% year-on-year[5] - Total operating revenue for the current period is ¥13,678,368,705.04, down from ¥15,363,120,450.17 in the previous period, representing a decrease of approximately 10.4%[23] - The net profit for the current period is a loss of ¥302,772,299.61, contrasting with a profit of ¥213,274,656.01 in the previous period, indicating a significant decline[24] - The company reported an operating loss of ¥291,518,289.15 for the current period, compared to an operating profit of ¥223,733,576.86 in the previous period[24] Cash Flow and Liquidity - Operating cash flow for the year-to-date period was CNY 67,361,128.44, down 93.18% compared to the previous year[5] - Net cash flow from operating activities decreased to ¥67,361,128.44 from ¥987,100,428.62 year-over-year, a decline of approximately 93.2%[25] - Total cash inflow from operating activities was ¥13,583,524,041.41, down from ¥15,151,921,855.08, representing a decrease of about 10.4%[25] - Cash outflow for operating activities totaled ¥13,516,162,912.97, compared to ¥14,164,821,426.46, a reduction of approximately 4.6%[26] - The ending cash and cash equivalents balance was ¥295,532,965.55, down from ¥525,207,194.59 year-over-year[26] - Cash inflow from financing activities increased to ¥1,603,233,878.14 from ¥740,350,000.00, a growth of approximately 116.6%[26] - Net cash flow from financing activities was ¥412,991,810.36, compared to -¥429,656,954.91 previously, indicating a significant turnaround[26] Assets and Liabilities - Total assets increased by 5.12% to CNY 5,072,037,958.68 compared to the end of the previous year[5] - Current liabilities have risen to ¥2,878,338,621.24, up from ¥2,045,686,626.81, which is an increase of about 40.7%[21] - Non-current liabilities decreased to ¥691,455,177.24 from ¥912,556,403.15, showing a reduction of approximately 24.2%[21] - The total liabilities have increased to ¥3,569,793,798.48 from ¥2,958,243,029.96, indicating an increase of approximately 20.6%[21] - The total equity attributable to shareholders decreased to ¥1,474,879,752.51 from ¥1,763,503,699.61, reflecting a decline of about 16.4%[21] Shareholder Information - Total number of common stock shareholders at the end of the reporting period is 12,405[14] - Jiangsu Yike Agricultural Investment Co., Ltd. holds 70.11% of shares, totaling 314,772,806 shares, with 16,000,000 shares pledged[14] - The top ten shareholders account for a significant portion of the company's equity, with the largest shareholder holding over 70%[14] - The total number of restricted shares at the end of the period is 332,481,026, with no new restricted shares added during the period[17] - The company plans to lift restrictions on shares held by major shareholders on January 22, 2025[17] - The company has not reported any changes in the status of major shareholders participating in margin trading[15] Research and Development - Research and development expenses rose by 72.72% to CNY 23,266,751.29, indicating increased investment in R&D projects[11] - Research and development expenses increased to ¥23,266,751.29 from ¥13,470,740.68, representing an increase of approximately 72.5%[24] Other Financial Information - Other income, primarily from government subsidies, increased by 250.63% to CNY 39,507,682.22[11] - Cash and cash equivalents decreased by 43.73% to CNY 295,532,965.55 at the end of the period[12] - Short-term borrowings increased by 106.84% to CNY 1,415,689,443.65, reflecting higher short-term financing needs[10] - The company reported a significant increase in contract liabilities by 1128.24% to CNY 58,532,135.64, indicating a rise in prepayments from customers[10] - There are no other significant matters reported in the current period[18] - The company did not undergo an audit for the third quarter financial report[27] - The company plans to implement new accounting standards starting in 2025, but this does not apply to the current reporting period[27]

Core Viewpoint - Yike Food's stock performance shows a slight increase, but financing activities indicate a net outflow, suggesting potential liquidity concerns and investor sentiment shifts [1][2]. Group 1: Financial Performance - For the first half of 2025, Yike Food reported operating revenue of 8.747 billion, a year-on-year decrease of 13.10% [2]. - The net profit attributable to the parent company was -181 million, reflecting a significant year-on-year decline of 255.03% [2]. Group 2: Shareholder and Market Activity - As of June 30, 2025, the number of shareholders decreased by 8.19% to 14,100, while the average circulating shares per person increased by 8.92% to 31,928 shares [2]. - The company has distributed a total of 113 million in dividends since its A-share listing, with 89.2346 million distributed over the past three years [3]. Group 3: Financing and Margin Trading - On October 27, Yike Food had a financing buy-in of 2.6155 million, with a net financing outflow of -1.4131 million, indicating a higher financing balance at 73.1016 million, which is 1.50% of the circulating market value [1]. - The margin trading data shows that Yike Food had no short selling activity on October 27, with a margin balance of 0, indicating a lack of bearish sentiment [1].

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。 证券代码：301116 证券简称：益客食品 公告编号：2025-043 江苏益客食品集团股份有限公司 关于更换持续督导保荐代表人的公告 2025 年 10 月 27 日 附： 简历 王冠男先生：保荐代表人，现任中信证券投资银行管理委员会高级副总裁。 曾负责或参与了中国出版、舒华体育、益客食品等 IPO 项目，桃李面包可转债、 伟隆股份可转债、华统股份向特定对象发行股票等再融资项目具有丰富的投资银 行业务经验。 江苏益客食品集团股份有限公司（以下简称"公司"）于近日收到中信证券 股份有限公司（以下简称"中信证券"）出具的《关于变更江苏益客食品集团股 份有限公司持续督导保荐代表人的函》。 中信证券作为公司首次公开发行 A 股股票持续督导项目的保荐人，原指派梁 勇先生、赵亮先生担任保荐代表人负责保荐工作及持续督导工作。现原保荐代表 人赵亮先生因工作安排变动调离原岗位，中信证券现指派王冠男先生接替其担任 公司首次公开发行 A 股股票持续督导项目的保荐代表人，继续履行相关职责。本 次变更后，公司首次公开发行 A 股股票持续 ...

证券代码：301116 证券简称：益客食品 公告编号：2025-043 江苏益客食品集团股份有限公司 关于更换持续督导保荐代表人的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 江苏益客食品集团股份有限公司（以下简称"公司"）于近日收到中信证券 股份有限公司（以下简称"中信证券"）出具的《关于变更江苏益客食品集团股 份有限公司持续督导保荐代表人的函》。 中信证券作为公司首次公开发行 A 股股票持续督导项目的保荐人，原指派梁 勇先生、赵亮先生担任保荐代表人负责保荐工作及持续督导工作。现原保荐代表 人赵亮先生因工作安排变动调离原岗位，中信证券现指派王冠男先生接替其担任 公司首次公开发行 A 股股票持续督导项目的保荐代表人，继续履行相关职责。本 次变更后，公司首次公开发行 A 股股票持续督导项目的保荐代表人为梁勇先生和 王冠男先生。持续督导期至中国证券监督管理委员会和深圳证券交易所规定的持 续督导义务结束为止。 公司董事会对赵亮先生在首次公开发行股票并在创业板上市以及持续督导 期间所作出的贡献表示衷心感谢！ 上市的保荐机构，原指定保荐代表人赵亮先生因工作变动 ...