ZHONG LUN LU 中倫律師事務所 www.boomited Liability Partnership 北京中伦(成都)律师事务所 关于山东龙大美食股份有限公司 2025 年第三次临时股东会的 法律意见书 二〇二五年十一月 uth Tower of Tianfy International Financ High-tech Zone, Chengdu, Sichuar 电话/Tel : +86 28 6208 8001 传真/Fax : +86 28 6208 北京中伦(成都)律师事务所 关于山东龙大美食股份有限公司 2025年第三次临时股东会的 法律意见书 致:山东龙大美食股份有限公司 北京中伦(成都)律师事务所(以下简称"本所")接受山东龙大美食股份 有限公司(以下简称"公司")的委托,就公司2025年第三次临时股东会(以下 简称"本次股东会")的召集和召开程序、召集人资格、出席和列席会议人员资 格、表决程序及表决结果等事宜,根据《中华人民共和国公司法》(以下简称"《公 司法》"）、《上市公司股东会规则》(以下简称"《股东会规则》")等法律、 行政法规、规范性文件以及《山东龙大美食股份有限公司章程 ...

Investment Rating - The industry rating is "Recommended" [3] Core Insights - The report highlights the ongoing challenges in the pork market, with prices experiencing a downward trend, currently at 11.90 CNY/kg, a decrease of 1.18% week-on-week. The market is characterized by a supply-demand tug-of-war, with large-scale pig farms adopting strategies to control supply and increase prices [2][12] - The report emphasizes the importance of the seed industry revitalization action plan, aiming for high-quality development during the 14th Five-Year Plan period, focusing on technological self-reliance and independent control of seed sources [1][11] - The report suggests that the commercialization of genetically modified crops will accelerate, significantly impacting yield improvements and self-sufficiency rates for key varieties [1][11] Summary by Sections Planting Industry Chain - The Ministry of Agriculture and Rural Affairs held a meeting to promote the revitalization of the seed industry, emphasizing the need for high-quality development and technological independence. Key actions include improving seed quality, protecting intellectual property, and enhancing biosecurity measures [1][11] - Recommended companies in the planting sector include Beidahuang and Suqian Agricultural Development, with a focus on leading seed companies like Dabeinong and Longping High-Tech [1][11] Swine Farming - The average price of live pigs is reported at 11.90 CNY/kg, with a notable decrease in losses for self-bred pigs to 114.81 CNY per head and 205.64 CNY for purchased piglets. The industry is still in a loss-making state but is seeing a reduction in losses compared to previous weeks [2][12] - The report anticipates a long-term upward adjustment in domestic pig prices, driven by policy guidance aimed at improving quality and efficiency in the industry [2][12] - Recommended stocks in the swine sector include companies like Muyuan Foods, Wens Foodstuff Group, and DeKang Agriculture [2][12] Key Agricultural Product Data Tracking - Corn: The average price is 2256.27 CNY/ton, up 0.92% week-on-week [25] - Wheat: The average price is 2485.11 CNY/ton, down 0.15% week-on-week [28] - Soybeans: The average price is 4011.58 CNY/ton, up 0.10% week-on-week [40] - Cotton: The average price is 14640.00 CNY/ton, up 0.10% week-on-week [45]

Core Insights - Longda Food reported that as of November 10, the number of shareholders reached 43,989 [2] Group 1 - The company engaged with investors through an interactive platform, indicating a commitment to transparency and communication [2]

Group 1 - The food processing sector increased by 0.31% on November 12, with Anjijia Food leading the gains [1] - The Shanghai Composite Index closed at 4000.14, down 0.07%, while the Shenzhen Component Index closed at 13240.62, down 0.36% [1] - Anjijia Food's closing price was 81.22, reflecting a rise of 5.19% with a trading volume of 184,000 shares and a transaction value of 1.509 billion yuan [1] Group 2 - The food processing sector experienced a net outflow of 275 million yuan from institutional investors, while retail investors saw a net inflow of 239 million yuan [2] - The top gainers in the food processing sector included Qianwei Central Kitchen and Xianle Health, with closing prices of 41.48 and 25.23, respectively, reflecting increases of 2.75% and 1.77% [1] - The sector's main stocks showed varied performance, with some experiencing significant declines, such as Gaisijia Food, which fell by 7.31% [2]

Core Viewpoint - The food processing sector experienced a slight increase of 0.37% on November 11, with Gais Food leading the gains, while the overall market indices saw declines [1]. Group 1: Market Performance - The Shanghai Composite Index closed at 4002.76, down 0.39%, and the Shenzhen Component Index closed at 13289.0, down 1.03% [1]. - Gais Food's stock price rose by 4.89% to 15.86, with a trading volume of 270,200 shares and a transaction value of 419 million yuan [1]. Group 2: Individual Stock Performance - Other notable gainers included: - Kangbiter, up 4.65% to 18.92, with a trading volume of 53,400 shares and a transaction value of 99.55 million yuan [1]. - Babi Food, up 4.43% to 32.08, with a trading volume of 167,500 shares and a transaction value of 530 million yuan [1]. - Haixin Food, up 3.12% to 5.29, with a trading volume of 397,300 shares and a transaction value of 208 million yuan [1]. Group 3: Capital Flow - The food processing sector saw a net outflow of 159 million yuan from institutional investors, while retail investors contributed a net inflow of 100 million yuan [2]. - Gais Food had a net inflow of 25.86 million yuan from retail investors, indicating strong interest from individual investors [3].

Group 1 - The US has officially announced a one-year suspension of the 301 investigation measures against China's shipbuilding industry, while China has reciprocated by suspending special port fees for US ships for one year [2] - The US Congress has passed a temporary funding bill to end the government shutdown, with a final vote expected soon in the House of Representatives [2] - Warren Buffett's Thanksgiving letter indicates he will no longer write annual reports and plans to convert 1,800 Class A shares into 2.7 million Class B shares for donations, retaining a significant amount of Class A shares until confidence in the successor CEO is established [2] Group 2 - The State Council has issued measures to promote private investment, including encouraging private capital participation in smaller city infrastructure projects for the first time [3] - A plan has been released to promote logistics data sharing, with ten categories of logistics data to be made publicly available [3] - The China International Import Expo concluded with a record intended transaction amount of $83.49 billion, a 4.4% increase from the previous year [3] - Central enterprises have increased investment in key areas such as technology innovation and equipment updates, with fixed asset investment exceeding 3 trillion yuan in the first three quarters [3] Group 3 - The China Securities Regulatory Commission is seeking opinions on guidelines for public fund thematic investment style management to address issues of style drift [4] - A-shares showed mixed performance with consumer sectors surging, while the overall trading volume reached 2.19 trillion yuan [4] Group 4 - The Hang Seng Index closed up 1.55%, driven by consumer stocks, with net inflows from southbound funds exceeding 66.54 billion HKD [5] - The China Securities Index Company will launch new indices to provide more investment benchmarks [5] Group 5 - TSMC reported October revenue of 367.47 billion NTD, a 16.9% year-on-year increase, but the lowest growth rate since February 2024 [8] Group 6 - Domestic retail prices for refined oil have been raised for the seventh time this year, with gasoline and diesel prices increasing by 125 yuan and 120 yuan per ton, respectively [9] - The State Administration for Market Regulation has issued compliance guidelines for e-commerce platforms during the "Double Eleven" sales event [9] - The National Development and Reform Commission and the National Energy Administration have outlined goals for large-scale development and high-quality consumption of new energy [9] Group 7 - The US Commodity Futures Trading Commission is in discussions to launch cryptocurrency spot trading products next month [10] - The US Treasury and IRS have released new guidelines for cryptocurrency exchange-traded products [10] - The Bank of England has proposed new regulations for stablecoins, allowing significant investments in short-term government bonds [10] Group 8 - Douyin has clarified rumors regarding penalties for selling products below market price, emphasizing a campaign against false advertising [11] - WeRide has received approval to operate a fully autonomous Robotaxi service in Abu Dhabi, marking a significant milestone in autonomous driving [11] - Tesla's Cybertruck project leader announced his departure after eight years, with sales significantly below production capacity [11] Group 9 - The US and Thailand have reached a trade framework agreement, with Thailand eliminating tariffs on 99% of goods [12] - The Federal Reserve is considering further interest rate cuts to prevent economic downturns [12] - October container imports in the US fell by 7.5% year-on-year, with predictions of further declines in November and December [12] Group 10 - China's gold consumption in the first three quarters decreased by 7.95%, while gold ETF holdings increased significantly [17] - The Shanghai Gold Exchange announced fee waivers for certain international contracts starting November 2025 [17] - International precious metals futures saw widespread gains, driven by geopolitical risks and a weaker dollar [17] Group 11 - The domestic bond market showed strength, with long-term bonds outperforming short-term ones, and the central bank conducted significant reverse repo operations [16] - The Ministry of Finance plans to issue up to 47.71 billion yuan in electronic savings bonds [16] - Hong Kong is set to launch a new round of multi-currency digital bond issuance [16]

Group 1 - The core viewpoint of the news is that Longda Food's stock has shown a slight increase recently, despite a significant decline in its stock price this year [1] - As of November 10, Longda Food's stock price is 4.92 CNY per share, with a market capitalization of 5.309 billion CNY [1] - The company has experienced a net inflow of main funds amounting to 3.558 million CNY, with large orders contributing significantly to the buying activity [1] Group 2 - For the period from January to September 2025, Longda Food reported a revenue of 7.625 billion CNY, representing a year-on-year decrease of 4.85% [2] - The net profit attributable to the parent company for the same period was -183 million CNY, a significant year-on-year decrease of 349.93% [2] - The number of shareholders increased to 43,300, while the average circulating shares per person decreased to 24,857 shares [2] Group 3 - Since its A-share listing, Longda Food has distributed a total of 443 million CNY in dividends, with no dividends paid in the last three years [3]

2016-2025年1-9月食品制造业企业数统计图 数据来源：国家统计局，智研咨询整理 相关报告：智研咨询发布的《2025-2031年中国食品饮料制造行业发展动态及投资前景评估报告》 2025年1-9月，食品制造业企业数（以下数据涉及的企业，均为规模以上工业企业，从2011年起，规模 以上工业企业起点标准由原来的年主营业务收入500万元提高到年主营业务收入2000万元）为10999个， 和上年同期相比，增加了514个，同比增长4.9%，占工业总企业的比重为2.11%。 上市公司：黑芝麻（000716），双汇发展（000895），千味央厨（001215），青岛食品（001219），三 全食品（002216），得利斯（002330），金字火腿（002515），洽洽食品（002557），克明食品 （002661），煌上煌（002695），海欣食品（002702），麦趣尔（002719），龙大美食（002726），桂 发祥（002820） 知前沿，问智研。智研咨询是中国一流产业咨询机构，十数年持续深耕产业研究领域，提供深度产业研 究报告、商业计划书、可行性研究报告及定制服务等一站式产业咨询服务。专业的角度、品质化的服 ...

Core Points - Longda Food (002726) reported that as of October 31, the number of shareholders reached 43,331 [1]

Core Viewpoint - The 40th Shandong Livestock Expo showcases Longda Food's strategic positioning in the high-end meat sector, particularly through its premium black pork brand "Longda Heitianpeng" based on the Longda Black Pig [1] Group 1: Product Development - Longda Food has developed the Longda Black Pig by selectively breeding various local black pig breeds, resulting in a hybrid that combines desirable traits from both domestic and European pig breeds [2] - The Longda Black Pig is noted for its rich content of unsaturated fatty acids and sulfur-containing amino acids, providing consumers with a healthier meat option [2] Group 2: Farming Practices - Longda Food has established specialized black pig breeding bases in the Jiaodong Peninsula, utilizing a "self-raising + contract farming" model to enhance its breeding network [2] - The company leverages the region's agricultural advantages by incorporating natural fruits like apples and pears into the pigs' diet, improving feed quality and imparting a unique sweetness to the pork [2] Group 3: Quality Control - The "Longda Heitianpeng" brand is built on a comprehensive management system that ensures quality from breeding to consumption, adhering to a "six unification" standard [5] - Longda Food implements rigorous pathogen risk assessments and maintains traceability throughout the supply chain, ensuring product safety and quality stability [5] - The company employs low-temperature aging and precise cutting techniques, along with a cold chain logistics system, to preserve the flavor and nutritional value of the meat [5] Group 4: Future Outlook - Longda Food aims to leverage its full industry chain advantages to advance its high-end meat business, with ongoing investments in the Longda Black Pig breed and the Longda Heitianpeng brand [5] - The company is committed to enhancing its industry chain construction to contribute to the high-quality development of the livestock sector [5]