本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 特别提示： 证券代码：002726 证券简称：龙大美食 公告编号：2025-088 山东龙大美食股份有限公司 关于聘任公司 2025 年度审计机构的公告 债券代码：128119 债券简称：龙大转债 1、拟聘任会计师事务所：和信会计师事务所（特殊普通合伙）（以下简称 "和信会计师事务所"） 2、原聘任会计师事务所：众华会计师事务所（特殊普通合伙）（以下简称 "众华会计师事务所"） 3、变更会计师事务所的原因：根据《国有企业、上市公司选聘会计师事务 所管理办法》，综合考虑山东龙大美食股份有限公司（以下简称"公司"）自身业 务状况、战略规划及整体审计工作需要等自身发展需要，公司拟聘任和信会计师 事务所为公司 2025 年度财务审计机构和内控审计机构。 4、公司董事会审计委员会、董事会对本次拟变更会计师事务所均无异议， 本事项尚须提交公司股东会审议。 山东龙大美食股份有限公司于 2025 年 10 月 30 日召开第六届董事会第六次 会议审议通过了《关于聘任公司 2025 年度审计机构的议案》。公司拟聘请和信会 计师事务 ...

| 证券代码：002726 | 证券简称：龙大美食 | 公告编号：2025-090 | | --- | --- | --- | | 债券代码：128119 | 债券简称：龙大转债 | | 山东龙大美食股份有限公司 关于召开 2025 年第三次临时股东会的通知 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、召开会议的基本情况 1、股东会届次：2025 年第三次临时股东会 2、股东会的召集人：董事会 3、本次会议的召集、召开符合《中华人民共和国公司法》《深圳证券交 易所股票上市规则》《深圳证券交易所上市公司自律监管指引第 1 号——主板 上市公司规范运作》等法律、行政法规、部门规章、规范性文件及《公司章 程》的有关规定。 4、会议时间： （1）现场会议时间：2025 年 11 月 17 日 14:45 （2）网络投票时间：通过深圳证券交易所系统进行网络投票的具体时间 为 2025 年 11 月 17 日 9:15-9:25，9:30-11:30，13:00-15:00；通过深圳证券交易 所互联网投票系统投票的具体时间为 2025 年 11 月 17 日 9: ...

证券代码：002726 证券简称：龙大美食 公告编号：2025-086 债券代码：128119 债券简称：龙大转债 山东龙大美食股份有限公司 第六届董事会第六次会议决议公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 一、会议召开情况 山东龙大美食股份有限公司（以下简称"公司"）第六届董事会第六次会议于 2025 年 10 月 30 日在公司会议室以现场结合通讯的方式召开，会议通知已于 2025 年 10 月 24 日送达各位董事。本次会议应出席董事 8 人，实际出席董事 8 人，会 议由董事长杨晓初先生召集和主持。本次会议的召集、召开程序符合《公司法》 和《公司章程》的有关规定。 二、会议审议情况 1、审议通过了《2025 年第三季度报告》 具体内容详见公司同日在《中国证券报》《证券时报》《证券日报》《上海证 券报》和巨潮资讯网（www.cninfo.com.cn）披露的《山东龙大美食股份有限公司 2025 年第三季度报告》（公告编号 2025-087）。 表决结果：8 票同意，0 票反对，0 票弃权。 2、审议通过了《关于修订公司部分制度的议案》 具体 ...

Financial Performance - The company's revenue for Q3 2025 was ¥2,650,538,535.99, representing a decrease of 10.76% compared to the same period last year[5]. - The net profit attributable to shareholders was -¥217,720,112.56, a significant decline of 1,562.35% year-on-year[5]. - The basic earnings per share (EPS) was -¥0.2017, down 1,561.59% from the previous year[5]. - Total operating revenue for the current period is ¥7,625,148,042.32, a decrease of 4.86% from ¥8,014,093,619.26 in the previous period[18]. - Net profit for the current period is -¥214,670,878.71, compared to a net profit of ¥78,459,055.58 in the previous period, indicating a significant decline[19]. - Basic earnings per share for the current period is -0.1692, compared to 0.0677 in the previous period, showing a negative shift[20]. Assets and Liabilities - Total assets at the end of the reporting period were ¥5,463,469,692.97, a decrease of 7.08% from the end of the previous year[5]. - Total current assets decreased from 2,526,523,266.25 CNY to 2,045,467,537.59 CNY, a decline of approximately 19%[15]. - Total liabilities decreased to ¥4,019,935,518.51 from ¥4,218,176,140.08, a reduction of approximately 4.7%[17]. - Total current liabilities decreased from 2,000,000,000 CNY to 1,800,000,000 CNY, a reduction of approximately 10%[15]. - Total equity attributable to shareholders decreased by 12.14% to ¥1,320,736,620.58 compared to the end of the previous year[5]. - The total equity attributable to shareholders decreased to ¥1,320,736,620.58 from ¥1,503,284,266.32, a decline of about 12.1%[17]. Cash Flow - The cash flow from operating activities showed a net outflow of -¥12,888,573.71, a decline of 104.51% compared to the same period last year[9]. - The net cash flow from operating activities was -12,888,573.71, a significant decrease compared to 285,810,644.30 in the previous period[22]. - The total cash outflow from operating activities was 8,452,777,981.08, compared to 8,615,083,008.45 in the previous period[22]. - Cash received from other operating activities was 124,381,316.50, an increase from 104,479,631.31 in the previous period[22]. - Cash paid to employees was 350,234,613.37, compared to 330,696,661.26 in the previous period[22]. - Cash paid for taxes was 61,947,538.78, significantly higher than 20,608,923.89 in the previous period[22]. Financial Expenses and Income - The company reported a 48.93% increase in financial expenses, totaling ¥92,722,413.16, primarily due to interest expenses that could not be capitalized[8]. - Financial expenses rose to ¥92,722,413.16 from ¥62,260,470.61, an increase of approximately 48.9%[19]. - The company recorded a 34.74% increase in other income, totaling ¥12,311,590.54, due to increased government subsidies[8]. - The company reported a significant increase in tax expenses to ¥1,671,434.21 from a tax benefit of -¥4,943,481.98 in the previous period[19]. Shareholder Information - Total number of common shareholders at the end of the reporting period is 41,556[11]. - The largest shareholder, Blue Run Development Holdings, holds 27.23% of shares, amounting to 293,885,800 shares, with 99,799,217 shares pledged or frozen[11]. - The company has a total of 41,417,183 shares held in a repurchase account, representing 3.84% of total shares[13]. Other Information - The company has not disclosed any new product developments or market expansion strategies in the current report[12]. - There is no indication of mergers or acquisitions in the current reporting period[12]. - The company did not undergo an audit for the third quarter financial report[24].

Investment Rating - The investment rating for the company is maintained as "Buy" with a target price of RMB 33.39 [1][5]. Core Insights - The company's main business saw an increase in volume but a decrease in price, leading to stable profitability. The overall revenue for the first three quarters of 2025 was RMB 446.5 billion, with a year-on-year growth of 1.2%, while the net profit attributable to the parent company was RMB 39.6 billion, up 4.1% year-on-year [1][5]. - In Q3 2025, the total revenue was RMB 161.5 billion, a decrease of 1.8% year-on-year, but the net profit increased by 8.4% to RMB 16.4 billion [1][5]. - The company benefits from favorable pork costs, with the meat products segment accounting for 42% of total revenue and 96% of operating profit in Q3 [1][2]. Revenue Analysis - The meat products segment generated RMB 67.9 billion in Q3, down 0.6% year-on-year, but the sales volume increased by 0.9% due to rapid growth in emerging channels [2]. - The slaughtering business saw a significant revenue drop of 18.8% year-on-year, totaling RMB 67.5 billion, despite a 40.5% increase in slaughter volume [2]. - Other businesses, particularly pig farming, experienced a revenue increase of 100.5% year-on-year, driven by a 146% rise in pig output [3]. Profitability Outlook - The meat products segment achieved a record high profit per ton of RMB 5,186, up 6.5% year-on-year, with an operating profit margin of 29.9% [4]. - The slaughtering business faced a 46.9% decline in operating profit, with a profit margin of only 0.6% [4]. - The company aims to maintain stable profit margins while increasing sales volume, expecting a slight decline in profit per ton in Q4 2025 [4]. Earnings Forecast and Valuation - The earnings per share (EPS) forecast for 2025-2027 is adjusted to RMB 1.51, 1.59, and 1.64, respectively, reflecting slight increases for 2025 and 2026, but a decrease for 2027 [5]. - The target price of RMB 33.39 corresponds to a price-to-earnings (PE) ratio of 21x for 2026, based on comparable companies [5].

证券之星消息，10月24日食品加工板块较上一交易日下跌0.55%，*ST春天领跌。当日上证指数报收于 3950.31，上涨0.71%。深证成指报收于13289.18，上涨2.02%。食品加工板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | | --- | --- | --- | --- | --- | --- | --- | | 300146 | 汤臣倍健 | 12.36 | 2.49% | 36.38万 | | 4.52亿 | | 300791 | 仙乐健康 | 23.10 | 1.49% | 2.00万 | | 4609.29万 | | 605338 | 巴比食品 | 24.93 | 1.30% | 2.18万 | | 5408.98万 | | 000639 | 西王食品 | 3.26 | 1.24% | - 50.31万 | | 1.65亿 | | 920826 | 盖世食品 | 13.00 | 0.78% | 2.81万 | | 3629.41万 | | 002515 | 金字火腿 | 6.56 | 0.31% | 28.25万 | | 1. ...

| 证券代码：002726 | 证券简称：龙大美食 | 公告编号：2025-085 | | --- | --- | --- | | 债券代码：128119 | 债券简称：龙大转债 | | 山东龙大美食股份有限公司 关于预计触发可转债转股价格向下修正条件的提示性公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假记载、 误导性陈述或重大遗漏。 特别提示： 4、转股期限：2021 年 1 月 18 日至 2026 年 7 月 12 日 5、根据公司《山东龙大肉食品股份有限公司公开发行可转换公司债券募集 说明书》（以下简称"《募集说明书》"）规定：在本次发行的可转换公司债券（以 下简称"可转债"）存续期间，当公司 A 股股票在任意连续二十个交易日中有十 个交易日的收盘价低于当期转股价格的 90%时，公司董事会有权提出可转债转股 价格向下修正方案并提交公司股东大会审议表决。 本次触发可转债转股价格修正条件的期间从 2025 年 10 月 20 日起算，截至 2025 年 10 月 24 日，公司股票已有五个交易日低于当期转股价格的 90%（即 8.37 元/股），预计后续可能触发可转债转股价格向下 ...

Core Viewpoint - Longda Food's stock performance shows a slight increase, with notable financing activities indicating investor interest despite a decline in revenue and profit [1][2]. Financing Summary - On October 22, Longda Food's financing buy-in amounted to 8.50 million yuan, with a net buy of 1.10 million yuan after repayments [1]. - The total financing balance reached 4.58 billion yuan, representing 8.53% of the circulating market value, which is below the 10% percentile level over the past year, indicating a low financing level [1]. - The short-selling activities included a repayment of 2,400 shares and a sale of 2,900 shares, with a total short-selling amount of 14,400 yuan, and a remaining short-selling balance of 151,040 yuan, also below the 40% percentile level over the past year [1]. Company Performance - As of October 20, Longda Food had 43,200 shareholders, an increase of 1.53%, while the average circulating shares per person decreased by 1.51% to 24,935 shares [2]. - For the first half of 2025, Longda Food reported a revenue of 4.975 billion yuan, a year-on-year decrease of 1.38%, and a net profit attributable to shareholders of 35.17 million yuan, down 39.52% year-on-year [2]. - Since its A-share listing, Longda Food has distributed a total of 443 million yuan in dividends, with no dividends paid in the last three years [2]. Business Overview - Longda Food, established on July 9, 2003, and listed on June 26, 2014, is located in Laiyang, Shandong Province [1]. - The company's main business includes pig farming, slaughtering, and the production and sale of fresh, frozen, and cooked meat products, with fresh and frozen meat accounting for 81.87% of revenue, prepared foods 15.74%, cooked products 1.68%, and others 0.71% [1].

Core Insights - The automotive industry in Kaifeng is undergoing a transformation, with companies like Quansheng Automotive Parts leveraging automation and high-quality production to serve both domestic and international markets [1][2] - Kaifeng is focusing on high-quality manufacturing, aiming to develop three trillion-level industrial chains in automotive manufacturing, new chemical materials, and modern food, along with four five-hundred-billion-level chains [2][3] Group 1: Automotive Industry Development - Quansheng Automotive Parts has implemented advanced robotic welding lines and automated assembly processes, producing high-quality metal components for automotive seats that are integrated into global supply chains [1] - The city has attracted nearly a hundred related enterprises, forming a trillion-level automotive manufacturing cluster, with significant contributions from leading companies like Chery, Haima, and BYD [1][2] - From January to August, Chery's production reached 175,600 vehicles, marking a 30.16% increase, with exports totaling 90,500 vehicles, a remarkable growth of 109.98% [1] Group 2: Industrial Chain and Investment - During the 14th Five-Year Plan, Kaifeng has prioritized high-quality development in manufacturing, successfully signing 56 projects with a total investment of 32.2 billion yuan in key industries [2] - The modern food sector in Kaifeng is thriving, with 36 nationally recognized agricultural products and significant investments from well-known food companies, aiming for a total industry output value exceeding 6 billion yuan by 2024 [2] - The fine chemical park in Kaifeng has become the only development zone in Henan focused on fine chemicals, with leading production capacities in various chemical products [2] Group 3: Technological Advancements and Support - Kaifeng is actively updating equipment and undergoing technological transformations, with 24 projects included in the Ministry of Industry and Information Technology's special relending project list [3] - The city is enhancing its business environment and supporting enterprises, focusing on key projects like Chery's passenger vehicle upgrades and the expansion of the chemical park [3] - High-tech and strategic emerging industries in Kaifeng are experiencing over 10% growth in added value, indicating a robust industrial development trajectory [3]

Core Viewpoint - Longda Food's stock price increased by 0.82% on October 20, with a trading volume of 65.05 million yuan, indicating a stable market performance despite a slight decline in revenue and profit in recent periods [1][2]. Financing Summary - On October 20, Longda Food had a financing buy-in amount of 8.60 million yuan and a financing repayment of 8.11 million yuan, resulting in a net financing buy of 493,400 yuan [1]. - The total financing and securities balance for Longda Food reached 461 million yuan, with the financing balance accounting for 8.70% of the circulating market value, which is below the 10% percentile level over the past year, indicating a low financing level [1]. - In terms of securities lending, Longda Food repaid 200 shares and sold 2,400 shares on October 20, with a selling amount of 11,800 yuan, while the securities lending balance was 1.47 million yuan, also below the 40% percentile level over the past year [1]. Business Performance Summary - As of October 10, Longda Food had 42,500 shareholders, an increase of 2.38% from the previous period, while the average circulating shares per person decreased by 2.32% to 25,318 shares [2]. - For the first half of 2025, Longda Food reported an operating income of 4.975 billion yuan, a year-on-year decrease of 1.38%, and a net profit attributable to shareholders of 35.17 million yuan, down 39.52% year-on-year [2]. - Since its A-share listing, Longda Food has distributed a total of 443 million yuan in dividends, with no dividends paid in the last three years [2]. Business Overview - Longda Food, established on July 9, 2003, and listed on June 26, 2014, is located in Laiyang, Shandong Province. The company specializes in pig farming, slaughtering, and the production and sale of fresh, frozen, and cooked meat products [1]. - The revenue composition of Longda Food includes fresh and frozen meat at 81.87%, prepared foods at 15.74%, cooked products at 1.68%, and other products at 0.71% [1].