Company Overview - Guangdong Yuehai Feed Group Co., Ltd. is a national innovative pilot enterprise and high-tech enterprise primarily engaged in the research, production, and sales of aquatic feed, with a focus on special aquatic feed since its establishment in 1994 [2][3] - The company ranks among the top three in the special aquatic feed industry, with special aquatic feed sales accounting for approximately 70% of total feed product sales [2][3] Financial Performance - In the first three quarters of 2025, the company achieved a feed sales volume of 660,000 tons, representing a year-on-year growth of 11.93% [3][9] - Revenue reached CNY 4.997 billion, an increase of 12.18% year-on-year, while net profit attributable to shareholders was CNY 26.198 million, up 138.86% [3][11] Production Capacity - The company's overall production capacity exceeds 2.5 million tons, with actual capacity over 1.5 million tons and a utilization rate of around 70% [3][9] - New production bases in Anhui and Vietnam were established to enhance domestic and international market presence [4][7] Strategic Developments - The Anhui base, with an investment of CNY 170 million, has an annual production capacity of over 100,000 tons and aims to become a core service hub for East and Central China [4][5] - The Vietnam base, with an investment of CNY 140 million, also has an annual capacity exceeding 100,000 tons, with plans to expand to 200,000 tons [5][6] Market Strategy - The company employs a "Three Highs and Three Lows" technical strategy to enhance product quality and efficiency, focusing on high quality, health, and growth while minimizing protein, loss, and feed ratio [10][11] - The marketing strategy includes the "Yuehai Wealth Creation Tour" to provide comprehensive support to aquaculture farmers and expand market reach [10][11] Product Development - The company has developed a diversified product system centered on shrimp and fish seedlings, with notable brands focusing on growth speed, disease resistance, and profitability [12] - The seedling business benefits from a comprehensive technological system ensuring high-quality output and stability [12]

Group 1: Sales and Market Strategy - The company launched "Spring Action" and "Summer Action" campaigns in H1 2025, positively impacting product sales and customer resource expansion [2][3] - Future sales promotion and market expansion plans will focus on three areas: continuing the "Yuehai Wealth Creation" theme activities, developing high-efficiency and environmentally friendly products, and targeting emerging aquaculture regions [3] - The company expects a significant increase in annual aquaculture feed sales for 2025, projecting a substantial growth compared to the 787,100 tons sold in 2024, with H1 2025 sales reaching 330,000 tons, a year-on-year increase of 11.40% [3][4] Group 2: Food Processing Performance - The food processing segment experienced rapid growth in H1 2025, with sales exceeding 5,000 tons, a 167% increase year-on-year, and sales revenue surpassing 140 million yuan, up 128% [4] - The growth was driven by enhanced e-commerce strategies, including collaborations with influencers for live-streaming sales and expanding offline partnerships with chain restaurants [4] Group 3: Production Capacity and Utilization - The company's total production capacity is approximately 2.5 million tons, with actual capacity around 1.5 million tons, resulting in a capacity utilization rate of 70% [4] - The Vietnam factory is currently in the installation and debugging phase, with plans for completion and production within the year, aimed at optimizing global capacity and enhancing international competitiveness [4] Group 4: Shareholder Information - As of September 10, 2025, the total number of shareholders is 21,930 [4]