Core Viewpoint - Wancheng Biotechnology Group Co., Ltd. is preparing to list on the Hong Kong Stock Exchange, aiming to establish an "A+H" listing structure after its previous listing on the Shenzhen Stock Exchange in April 2021 [2] Group 1: Company Overview - Wancheng Biotechnology was founded in 2011 and went public on the Shenzhen Stock Exchange in April 2021, focusing on the research, cultivation, and sales of edible fungi [7] - As of June 30, 2025, Wancheng Biotechnology has a network of 15,365 stores, primarily franchise stores, covering 29 provinces, municipalities, and autonomous regions in China [7] - The company reported a revenue of 22.58 billion RMB and a profit of 860.5 million RMB for the first half of 2025, compared to 10.92 billion RMB in revenue and 136.2 million RMB in profit in the same period of the previous year [11] Group 2: Recent Transactions - Wancheng Biotechnology announced an investment of 1.38 billion RMB to acquire a 49% stake in Nanjing Wanyou Commercial Management Co., Ltd., which operates in the bulk snack industry [3][4] - The acquisition is part of a strategy to strengthen the company's core team and ensure performance commitments from the transaction counterparties [5] Group 3: Financial Performance - The company achieved a revenue of 5.49 billion RMB in 2022, 9.29 billion RMB in 2023, and projected 32.33 billion RMB in 2024, with profits of 67.85 million RMB, -176.21 million RMB, and 610.91 million RMB respectively [9][10] - For the first half of 2025, the adjusted net profit was 922 million RMB, up from 238 million RMB in the same period of the previous year [12] Group 4: Management Changes - In July 2025, the former chairman Wang Jiankun was investigated, leading to Wang Lijing being appointed as the new chairman and Wang Zenning as the new general manager [18][19] - Wang Lijing has been with the company since 2011 and has held various leadership roles, while Wang Zenning joined in 2015 and has been promoted through the ranks [19]

Core Viewpoint - Hualu Green Biological Company (华绿生物) reported a mixed financial performance for the first half of 2025, with revenue growth but continued net losses [1][2]. Financial Performance Summary - The company achieved operating revenue of 499.54 million yuan in the first half of 2025, representing a year-on-year increase of 7.78% compared to 462.53 million yuan in the same period last year [1][2]. - The net profit attributable to shareholders was -53.69 million yuan, worsening from -44.82 million yuan in the previous year, indicating a decline of 19.79% [1][2]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -54.21 million yuan, also a decline from -45.84 million yuan, reflecting an 18.25% decrease [1][2]. - The net cash flow from operating activities was 47.34 million yuan, showing a growth of 13.64% compared to 41.66 million yuan in the same period last year [1][2]. Previous Year Comparison - In 2024, the company reported operating revenue of 1.03 billion yuan, a 3.60% increase from 996.22 million yuan in 2023 [3]. - The net profit attributable to shareholders for 2024 was -47.57 million yuan, a significant decrease of 256.73% from a profit of 30.35 million yuan in 2023 [3]. - The net profit after deducting non-recurring gains and losses was -48.48 million yuan, down 227.40% from 38.06 million yuan in 2023 [3]. - The net cash flow from operating activities in 2024 was 137.80 million yuan, a decrease of 17.32% from 166.67 million yuan in 2023 [3]. Fundraising and Stock Performance - The total amount raised by Hualu Green Biological was 653.19 million yuan, with a net amount of 596.11 million yuan after deducting issuance costs [4]. - The company initially planned to raise 727.53 million yuan for various projects, including technology upgrades and production expansion [4]. - The stock was listed on the Shenzhen Stock Exchange on April 12, 2021, with an initial public offering price of 44.77 yuan per share, reaching a peak of 100 yuan on the first trading day, but has since experienced a decline [3][4].

Group 1 - The company announced the signing of a "Maximum Financing Contract" with Shanghai Rural Commercial Bank on March 2025, indicating a strategic financial partnership [1] - To ensure the fulfillment of the financing contract, the company has signed a "Maximum Mortgage Contract," providing land and property as collateral for the credit facility [1] - The company plans to apply for a comprehensive credit limit of up to 40 million yuan after the expiration of the current credit facility, with the final credit limit and terms subject to bank approval [1] Group 2 - The mortgage guarantee is classified as a self-provided collateral, which falls within the board's review authority and does not require shareholder meeting approval [1]

Group 1 - The company, Xuerong Biotechnology, held its 33rd meeting of the 5th Board of Directors on September 23, 2025, in Shanghai [1] - The meeting reviewed a proposal regarding the company's application for comprehensive credit from banks and the continuation of providing collateral guarantees [1] Group 2 - The industry is currently facing heightened scrutiny regarding bidding processes, particularly in large-scale national procurement, leading to increased requirements for bidders to justify their pricing [1]

Core Viewpoint - On September 22, Zhongxing Mushroom Industry experienced a decline of 5.07%, with a stock price of 9.55 CNY per share, a trading volume of 164 million CNY, a turnover rate of 4.27%, and a total market capitalization of 3.755 billion CNY [1] Company Overview - Zhongxing Mushroom Industry Technology Co., Ltd. is located in Tianshui City, Gansu Province, established on November 18, 2005, and listed on June 26, 2015. The company's main business involves the research, industrial cultivation, and sales of edible mushrooms [1] - The revenue composition of the main business includes: 63.04% from Agaricus bisporus, 35.32% from Enoki mushrooms, 0.89% from Cordyceps sinensis, 0.53% from ecological breeding of Cordyceps, and 0.22% from other sources [1] Shareholder Information - Among the top ten circulating shareholders of Zhongxing Mushroom Industry, a fund under Manulife Financial holds a position. The Manulife Consumer Dividend Index A (008928) increased its holdings by 23,800 shares in the second quarter, totaling 3.1349 million shares, which represents 0.8% of the circulating shares. The estimated floating loss today is approximately 1.5988 million CNY [2] - The Manulife Consumer Dividend Index A (008928) was established on March 26, 2020, with a latest scale of 576 million CNY. Year-to-date returns are 6.29%, ranking 3715 out of 4222 in its category; the one-year return is 26.47%, ranking 3381 out of 3813; and since inception, the return is 63.18% [2] Fund Management - The fund manager of Manulife Consumer Dividend Index A (008928) is Li Tingting. As of the report date, Li has served for 3 years and 269 days, with the total asset scale of the fund at 2.516 billion CNY. The best fund return during her tenure is 32.79%, while the worst return is -35.89% [3] Fund Holdings - The Manulife Consumer Dividend Index A (008928) has Zhongxing Mushroom Industry as one of its top ten heavy positions. In the second quarter, it increased its holdings by 23,800 shares, totaling 3.1349 million shares, which accounts for 2.71% of the fund's net value. The estimated floating loss today is approximately 1.5988 million CNY [4]

从传统瓶栽的经验种植迈向精准化调控，农发生物的技术团队通过"产学研用"深度融合的模式，成功攻 克了产业发展中的诸多瓶颈。一是菌种驯化：引进高产抗病菌株，并结合使用先进的液体菌种技术，通 过严格的培养管理制度，保证菌种的纯度与活性。二是环境把控：运用物联网温湿度控制系统通过自动 化设备和技术，精准控制菌菇房的温度、湿度、光照、二氧化碳浓度等关键因素，通过设置自动化的通 风和照明系统，实现室内环境的精确控制。三是原料配方优化：以优质的麸皮、豆粕、玉米芯等农副产 品进行合理搭配，以确保为鹿茸菇的生长提供充足的养分，提升产量。四是通过提升装袋品质，提高接 种透底效果，有效提高菌包发满率，缩短后熟时间。五是标准化采收：从接种到采收的全过程实行数字 化管理，保证A级品率稳定在90%以上。 从340克到580克的产量飞跃，不只是简单的数字增长，更是设施农业生产方式向"科技驱动"转型的有力 见证。农发生物在整个产业链上协同发力，从优质原材料采购、菌包生产标准化，到菌种生产接种、菌 包培养、搔菌，再到鹿茸菇的生长培育，各环节紧密配合，充分发挥团队优势，实现了鹿茸菇单产与品 质的双重提升，为公司现代农业的高质量发展谱写全新篇章。 ...

Core Viewpoint - The article highlights the efforts of a working team in Longxian Town, Wengyuan County, to promote the cultivation of edible mushrooms as a means of rural revitalization and economic development, leveraging local resources and technology [1][5][6]. Group 1: Industry Development - The working team has transformed the local mushroom industry from "scattered planting" to "scale development," enhancing the economic value from "selling fresh" to "brand value-added" [8][10]. - The introduction of high-quality mushroom varieties, such as bamboo fungus and straw mushroom, has been pivotal in utilizing local bamboo resources effectively [23][24]. - The team has also introduced a new variety, red-tipped bamboo fungus, which allows for year-round cultivation and higher economic returns for local farmers [25][27]. Group 2: Technological Innovation - The working team addressed the challenges of traditional mushroom cultivation, such as seasonal limitations and continuous cropping issues, by developing new cultivation techniques that allow for multiple harvests in a year [32][38]. - A patented technology has been implemented to improve the cultivation substrate and control humidity, significantly increasing yield and reducing disease [39][40]. Group 3: Economic Impact - The current production capacity of bamboo fungus in the center village is approximately 400 pounds per day, translating to a daily revenue of around 10,000 yuan based on the price of dried mushrooms [40]. - The working team has secured nearly 900,000 yuan in support funds to establish a comprehensive edible mushroom industry service center, enhancing the value chain from production to sales [50][52]. Group 4: Branding and Marketing - The team has initiated branding efforts by registering the trademark "Xianyi Zhen" and creating unique packaging to enhance market visibility [55][57]. - Future plans include modernizing the production line and expanding the marketing channels to connect with larger markets, particularly in the Greater Bay Area [58][64].

人民财讯9月16日电，9月16日，农业农村部副部长麦尔丹.木盖提在国新办举行的"十四五"规划系列主 题新闻发布会上表示，我国的食用菌多来自设施农业，年产量已经达到了4200多万吨，产量占到全球的 85%。 ...

Core Viewpoint - The mushroom industry in Jingyuan, Ningxia, is significantly contributing to local employment and income, with over 3,500 villagers benefiting from this initiative through the collaboration between Fujian and Ningxia [1][3]. Group 1: Industry Development - The rise of the mushroom industry in Jingyuan is attributed to the precise support from Fujian-Ningxia collaboration and the solid foundation of the industry [3]. - Fujian-based companies have established operations in Jingyuan, with Huangda Biotechnology Co., Ltd. generating an annual output value of 5-6 million yuan and providing stable employment for 60-80 people [3]. - In 2025, an investment of 7.95 million yuan from Fujian-Ningxia funds will support the construction of 150 mushroom greenhouses, enhancing infrastructure for large-scale development [3]. Group 2: Employment and Income Generation - The innovative mechanisms in place, such as "enterprise + village collective + farmers" and "village cooperation + diversified sales + management services," have enabled various farmers to share in the benefits [3]. - By 2025, the mushroom industry is expected to integrate nearly 3,000 households into the entire industry chain, with an average income increase of 5,000 yuan per household for 1,780 directly involved farmers [5]. - Households with limited labor capacity are projected to see an annual income increase of approximately 3,200 yuan through managed cultivation [5]. Group 3: Sales and Market Expansion - The local government supports the establishment of agricultural product exhibition halls in Xiamen and encourages local procurement through reward policies [5]. - The initiative has successfully opened markets in Henan and Shandong, with multiple consignment points established in Fujian [5]. - The implementation of buy-back agreements for mushroom cultivation has effectively resolved sales challenges for farmers [5].

二、公司关注、核实情况 针对公司股票异常波动，经公司自查，并书面发函询问公司控股股东、实际控制人，对相关事项进行了 核实，现将有关情况说明如下： 登录新浪财经APP 搜索【信披】查看更多考评等级 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、股票交易异常波动的情况介绍 天水众兴菌业科技股份有限公司（以下简称"公司"或"本公司"）股票（证券简称：众兴菌业；证券代 码：002772）连续3个交易日（2025年09月10日、09月11日、09月12日）收盘价格涨幅偏离值累计超过 20%。根据深圳证券交易所相关规定，属于股票交易异常波动的情况。 本公司董事会确认，本公司目前没有根据《深圳证券交易所股票上市规则》等有关规定应予以披露而未 披露的事项或与该事项有关的筹划、商谈、意向、协议等；董事会也未获悉本公司有根据《深圳证券交 易所股票上市规则》等有关规定应予以披露而未披露的、对本公司股票及其衍生品种交易价格产生较大 影响的信息；公司前期披露的信息不存在需要更正、补充之处。 四、公司认为必要的风险提示 1、公司于2025年08月16日披露了公司2025年半年度报告 ...