1. Report Industry Investment Rating No relevant content provided. 2. Core Viewpoints of the Report - After a significant decline, the oil market has stabilized and is experiencing a technical rebound. However, in the short term, there is still a lack of obvious drivers, and the expected increase is limited [25][27]. - It is expected that after the Malaysian palm oil inventory accumulates in October, it will gradually start to decline slightly, but the inventory will still remain at a moderately high level. The production forecast of Indonesian palm oil has been raised, and the inventory is expected to remain low, but the fundamentals have weakened marginally compared to before. The domestic palm oil inventory has been continuously accumulating, and the supply may be relatively loose. Currently, there is no prominent core contradiction in soybean oil, and its price fluctuates more in line with the overall trend of the oil market, with limited upward momentum but greater resilience. In the short term, the domestic rapeseed supply is insufficient, and the import volume of rapeseed oil is also relatively limited. The domestic rapeseed oil inventory is expected to continue to decline, but there are rumors of Australian rapeseed arrivals, which alleviates the expectation of a tight rapeseed supply [4][25]. 3. Summary by Relevant Catalogs 3.1 First Part: Weekly Core Points Analysis and Strategy Recommendations 3.1.1 International Market - Malaysian Palm Oil - Estimated institutions predict that the Malaysian palm oil production will increase by 6% to 1.95 million tons in October, exports will increase to 1.48 million tons, and the inventory will accumulate to 2.44 million tons. However, MPOA's latest forecast shows a 12% increase to 2.07 million tons, and UOB also expects an increase of 8 - 12%. If these production forecasts are accurate, the inventory in October may increase to over 2.5 million tons. Attention should be paid to the MPOB report next Monday [5][7]. - SPPOMA predicts a 6.8% month - on - month increase in Malaysian palm oil production in the first 5 days of November. The rainfall forecast indicates that most producing areas will be dry in the next week, with more rainfall in parts of southern Malaysia. The drought will ease in the next two weeks, and southern Malaysia will still have relatively high rainfall [7]. - Some reports predict that the Malaysian palm oil production in the 2025/26 season may be 19.2 million tons, while this year's production is 19.38 million tons. Currently, the market expects the production in the new season to be flat or slightly lower year - on - year [7]. 3.1.2 International Market - Indonesian Palm Oil - Recently, the prices of Indonesian fruit bunches and CPO tender prices have been fluctuating weakly, currently lower than last year but still at a relatively high level in the same historical period. This year's production in Indonesia has recovered beyond market expectations, and Gapki has recently raised this year's production forecast to 56 - 57 million tons, a year - on - year increase of 8 - 10%. Some reports predict that the palm oil production in Indonesia in the 2025/26 season will be 51 million tons, 4% higher than the previous forecast but still lower than last year. The production forecast for the 2024/25 season has been raised to 53 million tons, reflecting better - than - expected production in July and August. Overall, the market has different forecasts for the production of Indonesian palm oil in the new year [10]. - The Indonesian Statistics Bureau shows that the exports of palm oil and refined palm oil from January to September this year were 17.58 million tons, a year - on - year increase of 11.62% [10]. 3.1.3 International Market - Indian Palm Oil and Edible Oil - Due to increased domestic inventory, weak demand in the food industry, and a narrowing price difference with other oilseeds, India's palm oil imports in October dropped to a five - year low of 750,000 tons. The main reason for the decrease in imports is the sufficient inventory in Indian ports and warehouses, currently holding over 1.2 million tons of edible oil. In addition, the relatively low prices of soybean oil and sunflower oil have prompted refineries to change their preferences [13]. - Traders said that India's total edible oil imports in the 2024/25 season increased slightly by 0.3% year - on - year to 16 million tons. Among them, palm oil imports decreased by 16% year - on - year to 7.56 million tons, the lowest level in five years; soybean oil imports increased by 61.6% year - on - year to a record 5.56 million tons; and sunflower oil imports decreased by 17.7% year - on - year to 2.88 million tons, the lowest level in three years. This week, there were rumors that India had purchased over 100,000 tons of palm oil and some soybean oil, with the shipping dates mainly concentrated in December and later [13]. 3.1.4 Domestic Palm Oil - As of October 31, 2025 (week 44), the commercial inventory of palm oil in key national regions was 592,800 tons, a decrease of 14,300 tons from the previous week, a decline of 2.36%. Recently, the palm oil inventory has decreased slightly and is at a neutral level in the same historical period. The origin quotes are stable, and the import profit inversion has narrowed, currently around - 300. It is rumored that three ships were purchased this week, and it is expected that the palm oil purchases in October and November will exceed 200,000 tons. The basis is stable. Attention should be paid to future domestic purchases and arrivals [16]. 3.1.5 Domestic Soybean Oil - As of October 31, 2025, the commercial inventory of soybean oil in key national regions was 1.2158 million tons, a decrease of 34,500 tons from the previous week, a decline of 2.76%. Currently, the soybean oil inventory is at a relatively high level in the same historical period, but the inventory inflection point may have been reached, and the basis is strengthening steadily. This week, the total spot trading volume of soybean oil was 81,000 tons, an increase from the previous week, but the overall trading volume is still weak [20]. - China has lowered the import tariff on US soybeans to 13%, but it is still difficult for commercial purchases. However, it is rumored that domestic purchases of US soybeans have begun. Attention should be paid to the purchase rhythm of US soybeans. In the short term, the domestic soybean oil supply is sufficient, the price increase is weak, and there is a lack of obvious drivers. It is expected to maintain a volatile trend [20]. 3.1.6 Domestic Rapeseed Oil - As of October 31, 2025, the coastal rapeseed oil inventory was 514,000 tons, a decrease of 21,000 tons from the previous week. It is still at a high level in the same historical period, but the inventory is continuously decreasing marginally. Currently, the rapeseed inventory has reached the bottom, and the rapeseed crushing volume of major coastal oil mills this week was 0 tons, with an operating rate of 0%. It is rumored that Australian rapeseed will arrive at the end of the year, which is the first export of Australian rapeseed to China in five years. The FOB quote of European rapeseed oil has remained stable at around $1,100, and the import profit inversion of European rapeseed oil has widened to around - 1,100. The market still has a sentiment of holding back sales at high prices, and the domestic rapeseed oil basis is strengthening steadily. It is expected that the coastal inventory decline trend will continue [23]. 3.1.7 Strategy Recommendations - Unilateral strategy: After a significant decline, the oil market has stabilized and is experiencing a technical rebound. However, in the short term, there is still a lack of obvious drivers, and the expected increase is limited. It is recommended to wait and see for the time being [27]. - Arbitrage strategy: Long OI 1 - 5 spread and short P1 - 5 spread [27]. - Option strategy: Wait and see [27]. 3.2 Second Part: Weekly Data Tracking - The report provides a large amount of data on the production, export, inventory, consumption, and price of palm oil, soybean oil, and rapeseed oil in Malaysia, Indonesia, India, and the domestic market, as well as data on the import, consumption, and basis of various oils in the domestic market [31][38][43]. These data are presented in the form of tables and charts, including monthly and weekly data, which can be used to track the market trends of the oil industry.

Core Points - Australian Oilseeds Holdings Limited has regained compliance with Nasdaq's minimum bid price requirement and will transfer its listing to The Nasdaq Capital Market effective October 31, 2025 [1][2][3] - The transfer is not expected to impact trading of the Company's securities, which will continue to trade under the symbols "COOT" for Class A ordinary shares and "COOTW" for warrants [2] - The Nasdaq Capital Market has similar operational standards to the Nasdaq Global Market, requiring companies to meet specific financial and corporate governance criteria for continued listing [2] Company Overview - Australian Oilseeds Holdings Limited is focused on the manufacture and sale of sustainable oilseeds, including non-GMO and organic food-grade oils, targeting the growing oilseeds market [3] - The Company operates the largest cold pressing oil plant in Australia, emphasizing the production of GMO-free conventional and organic oilseeds [3] - The Company aims to eliminate chemicals from its production processes, thereby supplying healthier food ingredients and vegetable oils to customers globally [3]

Company Overview - Australian Oilseeds Holdings Limited is a manufacturer and seller of sustainable edible oils, focusing on the GEO line of cold-pressed, chemical-free canola and olive oils [1][5] - The company operates through subsidiaries, including Australian Oilseeds Investments Pty Ltd, and is committed to eliminating chemicals from the production process to supply quality products globally [6] Joint Venture Announcement - The company announced a joint venture with Rajashri Foods Pvt. Ltd. to market and distribute its GEO line of oils in India, which is seen as a significant growth market [1][2] - Rajashri Foods is recognized as a leader in the Indian market with extensive distribution capabilities, making it an ideal partner for the company [2][4] Market Potential - India's edible oil market is valued at approximately AUD 50–60 billion, presenting a substantial opportunity for the company to capture a meaningful share [3] - The partnership aims to address the growing demand for healthier food products in India, aligning with the increasing consumer awareness of health and nutrition [2][3] Product Offering - GEO products are developed to meet the demand for healthy, natural, and sustainable edible oils, emphasizing non-GMO quality, high Omega-3 and Omega-9 content, and low trans-fat [5] - The brand has established a solid reputation in Asia and is distributed across multiple countries, including Japan, China, and Vietnam, with plans to explore the Taiwanese market [5]

Core Insights - Australian Oilseeds Holdings Limited reported a strong financial performance for Q4 and fiscal year 2025, with total sales revenue increasing by 49% year-over-year in Q4, driven by growth in retail, wholesale, and high-protein segments [4] - The retail oil division experienced significant growth, with a 59% increase in revenue during the quarter, reflecting successful strategic expansion and product diversification [4] - The company is committed to sustainability and quality, positioning itself favorably in the market for future growth [4] Q4 Fiscal 2025 Financial Highlights - Sales revenue for Q4 increased by 49.1% to A$11.5 million, attributed to broad-based growth across various categories [6] - Retail oil revenue rose by 58.9% to A$4.3 million, supported by expanded distribution and new product offerings [6] - The company achieved a net income of A$0.1 million, a significant improvement from a net loss of A$23.7 million in the previous year [6] Full Year Fiscal 2025 Financial Highlights - Total sales revenue for the fiscal year increased by 23.6% to A$41.7 million, driven by growth in retail and high-protein meal categories [6] - Retail oil revenue for the full year increased by 58.4% to A$19.9 million, reflecting successful distribution strategies and new product introductions [6] - The company reported a net loss of A$1.5 million, an improvement from a net loss of A$21.2 million in the prior year [6]

Core Insights - Australian Oilseeds Holdings Limited has launched its flagship consumer brand, GEO, on Zhongsheng GO, a digital retail platform in China, marking a significant step in its international expansion strategy [1][2][3] Company Overview - Australian Oilseeds Holdings Limited is focused on the manufacture and sale of sustainable oilseeds and is committed to eliminating chemicals from production systems to supply quality products globally [4] - The company operates the largest cold pressing oil plant in Australia, processing non-GMO and organic oilseeds [4] Product Details - GEO represents Australia's premium extra virgin cold-pressed canola oil range, developed to meet the demand for healthy, natural, and sustainable edible oils [3] - GEO products are characterized by 0% erucic acid, non-GMO quality, high Omega-3 and Omega-9 content, natural Vitamin E, and low trans-fat [3] - The brand is distributed across multiple Asia-Pacific markets, including Japan, China, Vietnam, and Thailand, and is exploring opportunities in Taiwan [3] Strategic Partnership - The successful onboarding of GEO products on Zhongsheng GO was facilitated by Shanghai Maiwei Trading Co., Ltd., the company's strategic partner in China [2] - Zhongsheng GO has over 5 million registered members, providing a substantial customer base for GEO products [2][3]

Core Points - Australian Oilseeds Holdings Limited received an extension from The Nasdaq Hearings Panel to regain compliance with the minimum stockholders' equity requirement of $2.5 million, with a deadline set for September 30, 2025 [1][2] - As of July 22, 2025, the company reported $2.6 million in shareholder equity and plans to maintain this through debt conversion and revenue increases [3] - The company is committed to sustainable practices in the production of non-GMO oilseeds and aims to eliminate chemicals from its manufacturing processes [4] Company Overview - Australian Oilseeds Holdings Limited operates in the sustainable edible oils market, focusing on the processing, manufacture, and sale of non-GMO oilseeds and organic food-grade oils [4] - The company has the largest cold pressing oil plant in Australia, emphasizing GMO-free products and healthier food ingredients [4]

Core Insights - Indian edible oil prices surged by 8% following a reduction in import duties, leading to a significant increase in imports by 60% [1] Group 1: Price Movement - The price of edible oil in India has experienced an 8% increase recently [1] - The reduction in import taxes has contributed to this price surge [1] Group 2: Import Dynamics - Edible oil imports into India have increased by 60% after the import tax cut [1] - The surge in imports raises questions about when the price increase will peak [1]

Core Insights - Australian Oilseeds Holdings Limited has announced a partnership with SMART MARKETING CO. LTD for the sales, marketing, and distribution of its GEO brand in Vietnam, targeting the growing demand for healthy food products in the region [1][2][3]. Company Overview - Australian Oilseeds Holdings Limited specializes in the sustainable production and global distribution of high-quality oilseeds, focusing on non-GMO and organic food-grade oils [5]. - The company operates the largest cold-pressing facility in Australia, producing only GMO-free conventional and certified organic oils, and is recognized as a trusted supplier of healthier food ingredients globally [5]. Market Opportunity - Vietnam's population exceeds 100 million, with increasing health consciousness driving demand for natural and chemical-free oils, presenting significant opportunities for premium international brands [3]. - The partnership with SMART MARKETING CO. LTD is expected to enhance brand development and retail distribution across Vietnam, leveraging their extensive network [2][4]. Financial Projections - The launch of GEO's extra virgin olive oil is anticipated to contribute an additional USD 5–8 million to the company's top line revenue within the next 12 months [4].

Group 1 - Report title: Weekly Oil Report: Malaysian Palm Oil Inventory Build-up Slightly Exceeds Expectations, Focus on Australian Prime Minister's Visit to China [1] - Core events and market review: MPOB data shows that Malaysia's palm oil inventory at the end of June reached 2.03 million tons, a 2.4% increase month-on-month; Canada's rapeseed exports decreased by 72.1% to 48,400 tons in the week ending July 6; influenced by positive macro sentiment, oils rose significantly this week, but the momentum for further increase weakened after the rapid rise [4] Group 2 - International market - Malaysian palm oil: In June, Malaysia's palm oil inventory build-up slightly exceeded expectations, with production down 4.48% to 1.69 million tons and exports dropping to 1.26 million tons; SPPOMA data indicates that the production of Malaysian palm oil may increase month-on-month in July, and ITS predicts a 5.31% month-on-month increase in exports in the first 10 days of July [8] - International market - Canadian rapeseed: The international cost - performance of Canadian rapeseed declined, with exports decreasing by 72.1% week-on-week; the new planting area was adjusted down by 80,000 hectares; there is still a risk of drought, and Oil World predicts a potential production cut of about 1.86 billion tons [10] Group 3 - Domestic palm oil: As of July 4, 2025, the commercial inventory of palm oil in key regions across the country was 538,100 tons, a 0.13% week-on-week increase; the basis fluctuated weakly; the spot market trading was light; it's expected to have limited upward space and may experience a slight correction, maintaining a sideways movement overall [13] - Domestic soybean oil: In June, the soybean crushing volume of 111 plants was about 8.95 million tons, and the soybean oil output was about 1.7 million tons; as of July 4, 2025, the commercial inventory of soybean oil in key regions across the country was 1.0197 million tons, a 6.75% week-on-week increase; the basis was stable to slightly weak; the trading volume of soybean oil spot increased week-on-week but remained at a historically low level; it's expected to maintain a sideways movement [18] - Domestic rapeseed oil: Last week, the rapeseed crushing volume of major coastal oil mills was 47,000 tons; as of July 4, 2025, the coastal rapeseed oil inventory was 719,000 tons, a 28,000 - ton week-on-week decrease; the import profit of European rapeseed oil was significantly narrowed; the spot market was light; the market is watching the Australian Prime Minister's visit to China on Saturday [21] Group 4 - Strategy recommendation: Unilateral strategy - In the short term, the upward movement of oils is losing steam, may experience a slight correction, and maintain a sideways trend overall. Consider buying on dips. Arbitrage strategy - Hold. Option strategy - Hold [25] Group 5 - Weekly data tracking: The report also tracks data on Malaysian and Indonesian palm oil production, exports, and inventory, international soybean oil market, Indian oil supply and demand, domestic rapeseed oil and palm oil import profits, domestic oils' supply and demand, basis, and inventory [27]

Group 1 - Shandong Luhua Group has completed its shareholding reform and changed its name to Shandong Luhua Group Co., Ltd, with registered capital increasing from approximately 1.091 billion to 2 billion yuan, an increase of 83% [1] - The company is speculated to be preparing for a capital market entry following the restructuring and capital increase [1][8] - The new shareholder structure shows Shandong Luhua Holding Group Co., Ltd as the largest shareholder with a 64.19% stake, controlled by the founder's family [2] Group 2 - Luhua Holding has integrated several family-controlled asset platforms and established a wholly-owned subsidiary for investment and private equity management, enhancing its capital layout [4] - In late 2024, strategic investors including Jinlongyu and Hong Kong Jiayin invested 5.5 billion yuan for a 26.64% stake, raising Luhua's valuation to 20.9 billion yuan [4] - The management team has undergone significant changes, with key personnel leaving and new members joining, possibly linked to legal issues faced by a former executive [4] Group 3 - Founded in 1983, Luhua has grown from a local factory to a leading brand in high-end edible oils, particularly in the peanut oil sector [5] - The company has an annual production capacity of 1.5 million tons for edible oils, 300,000 tons for condiments, and 500,000 tons for rice and flour, supported by a nationwide marketing network [7] - Luhua holds a 6.7% market share in the packaged edible oil industry, ranking third behind Yihai Kerry and COFCO, and leads the high oleic peanut oil segment with a 34% market share [7] Group 4 - The recent restructuring and capital increase indicate Luhua's intent to prepare for an IPO amidst intense competition in the edible oil industry [6] - The competitive landscape includes established players like Jinlongyu and COFCO, with Luhua's potential listing expected to enhance industry concentration [6] - Challenges remain for Luhua, including raw material price fluctuations and the need for effective strategies to maintain growth and competitiveness post-IPO [8]