Core Viewpoint - The company aims to deepen its domestic market presence while expanding internationally, focusing on customer development and product innovation in the feed additive sector [1] Group 1: Market Strategy - The company will adhere to a market strategy of "deepening domestic and breaking through internationally" in the second half of the year [1] - In the domestic market, the company focuses on core customer development and implements the "expanding one product project" to optimize customer procurement costs and maximize customer value [1] - The overseas market strategy involves a "go out, invite in" approach, with increased resource investment to enhance international market development [1] Group 2: Product Development - The company continues to focus on the pig, dairy cow, and poultry markets while also expanding into aquaculture and beef and sheep markets [1] - There will be an increased investment in R&D to develop efficient, safe, and environmentally friendly feed additives and enzymatic protein feed raw materials [1] - The "annual production of 100,000 tons of corn protein deep processing project" is expected to be completed and enter trial production this year, which will introduce corn concentrated protein and corn enzymatic protein products to the market [1] Group 3: Industry Impact - The new project is expected to positively address the current shortage of domestic feed protein resources and provide new growth points for the company's business development [1]

Group 1: Report Basics - The report is about a research on Meinong Bio-tech, belonging to the agriculture, animal husbandry, feed, and fishery industry, with a research date of September 23, 2025 [1][16] - The listed company's reception staff includes the board secretary Zhang Weiwei and the head of the international marketing center, Hu Yanlingjun [16] Group 2: Research Institutions - The research institutions include securities companies such as Huatai Securities, Caitong Securities, Yuekai Securities, Huaxin Securities, and others like Hong Kong Dongjian International Securities, Xiaofeng Fund, and Fuzhijia Investment [17] - The proportion of securities companies among the research institutions is 46%, others 38%, law firms 8%, and investment companies 8% [20] Group 3: Core Views - The company adheres to the market strategy of "deeply cultivating the domestic market and breaking through the international market" and aims to become a globally leading animal nutrition technology company [23] - The company has a rich product line, a mature overseas dealer management model, and a set of core technologies, and it will continue to invest in international market development and new product R & D [23][27] Group 4: Company Business Analysis International Business - The company's international business has a first - mover advantage, with a sales network covering more than 40 countries and regions. It will continue to expand the international market through a two - pronged approach of "going out" and "digging deep" [23][25] - The overseas business income has maintained a growth rate of over 20% and accounts for nearly 40% of the total revenue. It adopts a sales model of "mainly distribution, supplemented by direct sales" [25] - The company has a mature overseas dealer management and selection model and manages exchange - rate risks through foreign exchange hedging [26] Core Technologies - The company has mastered core technologies such as formulation technology, preparation technology, and enzymatic hydrolysis technology, and continuously optimizes the process path design [27] Product Layout - The company's products include functional feed additives, nutritional feed additives, and enzymatic hydrolysis plant protein feed raw materials. It will launch corn - related products after the "100,000 - ton corn protein finishing project" is put into production [28][30] Talent Management - The company has built a "dual - wheel drive" talent management system of "internal self - cultivation and external talent introduction" and launched an equity incentive project and the "Meinong Academy" [30][31] Project Investment - The "100,000 - ton corn protein finishing project" is in line with national policies, which can improve the utilization rate of corn protein and create greater commercial value. Product prices will be determined by multiple factors [31][33][34]

每经头条（nbdtoutiao）——报价太低遭严防，投标企业还得"解释清楚"，一场国家组织的大型采购， 为何引发全行业关注 （记者 曾健辉） 每经AI快讯，美农生物发布公告称，2025年9月23日，美农生物接受华泰证券等投资者调研，公司董事 会秘书张维娓、国际营销中心负责人延凌郡参与接待，并回答了投资者提出的问题。 ...

Group 1: Company Overview and Market Strategy - The company aims to become a global leader in animal nutrition technology, with a market strategy focused on "deepening domestic and breaking through internationally" [2] - The company has established a sales network covering over 40 countries and regions across Asia, Europe, Africa, South America, and Oceania, leveraging a distributor-centric model for international market expansion [3][4] - The company has maintained a growth rate of over 20% in its overseas business, with overseas revenue accounting for nearly 40% of total revenue [4] Group 2: International Market Expansion Initiatives - The company plans to focus on markets along the "Belt and Road" initiative, utilizing localized operations and technological innovation to build a competitive edge [3] - Key initiatives include developing new markets, deepening existing market value, and enhancing product lines based on customer needs [3] - The company emphasizes participation in international industry exhibitions to increase visibility and strengthen its international market image [3] Group 3: Financial Management and Risk Control - The company has developed a mature overseas distributor selection and management model over 20 years, focusing on credit policies and risk management [5] - It closely monitors macroeconomic conditions and adjusts sales strategies to mitigate risks, including currency risk through hedging [5] Group 4: Core Technologies and Product Development - The company has established a robust R&D system, focusing on core technologies such as formulation, preparation, and enzymatic technologies [6][7] - It aims to develop high-efficiency, safe, and environmentally friendly feed additives and enzymatic protein feed materials, with a focus on meeting diverse customer needs [8] - The upcoming "annual production of 100,000 tons of corn protein processing project" will introduce new products to alleviate domestic protein resource shortages [9][10] Group 5: Talent Management and Organizational Development - The company implements a dual-driven talent management system, focusing on internal development and external recruitment to support sustainable growth [8] - Initiatives include a stock incentive program and the establishment of "Meinong Academy" for comprehensive talent development [8]

Core Viewpoint - The company emphasizes its commitment to "product leadership, value service, and partner growth," focusing on product development, market expansion, customer engagement, and operational efficiency [1] Product Strategy - The company implements a "segmented species and product, full-process nutrition" strategy, increasing investment in product research and innovation, and continuously launching new products and technologies that meet market demands [1] - In the first half of 2025, the revenue from the main businesses of feed additives and enzymatic protein feed raw materials showed varying degrees of growth compared to the same period last year, with the intestinal health products in the feed additives segment experiencing over 60% year-on-year revenue growth, significantly contributing to the company's performance [1] Market Strategy - The company adopts a "deepening domestic and breaking through international" market strategy, establishing specialized domestic and international marketing and value service teams to promote dual development of domestic and overseas businesses [1] - Both domestic and international business revenues achieved varying degrees of growth in the first half of this year compared to the same period last year [1] - In domestic business expansion, the company implements innovative reforms by broadening product categories, deepening customer markets, and strengthening core products, leading to counter-cyclical growth [1] - For international business expansion, the company focuses on "going out" to develop new markets and expand its business footprint while also "digging in" to deepen value in existing markets, maintaining over 20% growth through these dual efforts [1] Operational Efficiency - The company continuously enhances management efficiency through strengthened supply chain management, improved process technology, and increased automation levels [1] - Organizational innovation, team building, and management capability enhancement effectively stimulate internal motivation, driving sustainable development through collaborative efforts [1]

Group 1 - The core viewpoint of the article highlights that Shanghai Meino Biological Technology Co., Ltd. (Meino Bio) has experienced significant growth in revenue and net profit in the first half of 2025, driven by innovative product development and strategic market expansion [1] - The company’s revenue from its feed additive segment, particularly gut health products, has increased by over 60% year-on-year, marking it as a key growth driver [1] - Meino Bio's strategy focuses on both domestic market deepening and international market breakthroughs, achieving over 20% revenue growth in overseas markets by expanding into more than 10 new markets including Australia, New Zealand, and Indonesia [1][2] Group 2 - The company’s wholly-owned subsidiary, Meino Biological Technology (Leling) Co., Ltd., is progressing well with its 100,000-ton corn protein deep processing project, expected to enter trial production within the year [2] - The feed additive industry is experiencing a clear growth trend, driven by the scale of livestock farming and the demand for new environmentally friendly additives, alongside regulatory pressures promoting green additive development [2] - Meino Bio aims to become a "global livestock resource integration platform," exporting high-quality domestic products while introducing advanced products from regions like Europe to enhance domestic feed and breeding enterprises [3]

证券日报网讯美农生物（301156）9月22日发布公告，在公司回答调研者提问时表示，公司全资子公司 乐陵美农于去年8月底注册成立，以实施公司10万吨玉米蛋白精加工项目。为尽早实现投产目标，公司 全面统筹资源，周密制定计划，积极协调各方力量，顺利完成了项目用地、立项核准、环评审批及施工 许可等关键手续。项目团队坚持高标准、快节奏推进建设工作，目前一期工程进展顺利，有望在今年内 建成并进入试生产阶段。 ...

Core Viewpoint - The company emphasizes the increasing demand for standardized production processes and animal health management in the livestock industry, driven by the growing scale and intensification of farming practices [1] Industry Insights - The livestock farming industry is facing higher demands for standardization and efficiency due to its growing scale and intensification [1] - China is a country with a shortage of feed protein resources, heavily relying on imports for key feed protein materials such as soybeans and fishmeal. The main strategies to alleviate this shortage include improving quality, increasing efficiency, and adjusting the structure of feed resources [1] - With rising living standards, there is an increasing demand for meat, eggs, and milk, along with heightened awareness of food safety regarding animal products. This necessitates the development of "green, efficient, and safe" feed additives and raw materials as a trend in the industry [1] Company Positioning - The company's products enhance the nutritional value of basic feed, improve animal production performance, ensure animal health, reduce feed costs, enhance the quality of livestock products, and increase farming efficiency while being environmentally friendly. This aligns with the industry's development trends [1]

每经头条（nbdtoutiao）——始祖鸟深陷"炸山"风波，母公司大中华区新总裁上任才两个多月，被赞"专 业能力深厚"！安踏体育最新回应→ （记者 谭玉涵） 每经AI快讯，美农生物（SZ 301156，收盘价：17.85元）发布公告称，2025年9月20日，美农生物接受 中信证券等投资者调研，公司乐陵美农总经理肖伟伟、董事会秘书张维娓参与接待，并回答了投资者提 出的问题。 2024年1至12月份，美农生物的营业收入构成为：饲料工业占比100.0%。 ...

Group 1: Company Overview and Strategy - Shanghai Meinong Biological Technology Co., Ltd. focuses on "product leadership, value service, and partner growth" as its core value proposition [2] - The company implements a product strategy of "diversified species and products, full-process nutrition" to enhance product development and innovation [2][4] Group 2: Financial Performance - In the first half of 2025, the company reported revenue and profit growth, with feed additive revenue increasing by over 60% year-on-year, significantly contributing to overall performance [3] - Domestic and international business revenues both experienced growth, with international business revenue increasing by over 20% in the first half of 2025 [6] Group 3: Project Development - The company’s wholly-owned subsidiary, Leiling Meinong, is on track to complete its 100,000-ton corn protein deep processing project by the end of 2025 [3][4] - The project aims to alleviate the domestic protein resource shortage by utilizing corn by-products, aligning with national policies for diversified food supply systems [4][5] Group 4: Product Planning and Market Strategy - The project will launch corn concentrated protein and corn enzymatic protein products, enhancing nutritional value and meeting market demands [5] - The company has established a robust market network across over 20 provinces in China and several countries worldwide, supporting the promotion of its new products [5] Group 5: Research and Innovation - The company emphasizes innovation, achieving breakthroughs in feed additives and enzymatic protein feed materials, including a new gut health product and enhanced protein digestibility solutions [8][9] - Collaborative research with academic institutions aims to address industry challenges and expand product applications, creating new business opportunities [10]