Core Viewpoint - Guangdong Yuehai Feed Group Co., Ltd. is committed to enhancing its core competitiveness and promoting high-quality development in the marine economy through its "Quality Return Dual Improvement" action plan, focusing on innovation and quality [1][2][9] Group 1: Company Overview - Yuehai Feed is a leading national innovative pilot enterprise and high-tech enterprise primarily engaged in the research, production, and sales of aquatic feed, with a strong focus on special aquatic feed since its establishment in 1994 [1] - The company has established over 30 subsidiaries across major aquaculture regions in China and internationally, with special aquatic feed accounting for approximately 70% of its total feed sales [1][2] Group 2: Technological Strategy - The company has implemented a "Three Highs and Three Lows" technical strategy aimed at improving feed quality and efficiency, which includes high quality, high health, high growth, and low protein, low waste, low feed ratio [3][4] - This strategy addresses long-standing issues in the aquaculture industry, such as excessive protein levels, which can increase feed costs and harm fish health, thereby enhancing the core competitiveness of the company's products [3] Group 3: Quality Management - The "Four Heavy Guarantees" quality management system focuses on full-chain quality control, including raw material selection, precise formula development, production control, and a dynamic market feedback mechanism [4][5] - This system ensures the stability and nutritional retention of feed products, contributing to the overall quality and effectiveness of the company's offerings [4] Group 4: Market Development and Social Responsibility - The company actively promotes high-efficiency aquaculture technologies and AI smart farming models through initiatives like the "Yuehai Village" project, aiming to establish over 100 "Yuehai Villages" by 2025 to support 10,000 farmers [6] - Yuehai Feed has played a significant role in modernizing marine ranching and has been recognized as a key agricultural leading enterprise in Guangdong Province [6] Group 5: Corporate Governance and Investor Relations - The company adheres to strict corporate governance standards, ensuring effective decision-making and oversight through its governance structure, which includes a shareholders' meeting, board of directors, supervisory board, and management [7][8] - Yuehai Feed emphasizes transparent information disclosure and investor relations management, maintaining a stable cash dividend policy and engaging in share buybacks to enhance investor confidence [8][9]

证券之星刘浩浩 证券之星注意到，高额的减值损失也是导致粤海饲料2024年业绩亏损的重要原因。 近日，特种水产饲料行业龙头粤海饲料（001313）(001313.SZ)正式启动营销专项行动"胜夏行动"，目标 直指"集团销量倍增"。而自去年下半年起，其市场拓展力度明显加大。不过即便如此，其去年和今年一 季度业绩仍未能实现扭亏。 证券之星注意到，受下游养殖水产品市场低迷等因素影响，自2022年上市以来粤海饲料业绩持续承压， 其两大主营业务逐年萎缩。2024年受巨额减值拖累，粤海饲料归母净利润更是迎来近十年来首亏。多个 IPO募投项目延期或效益不及预期，也对公司业绩造成一定负面影响。 下游市场低迷公司业绩一蹶不振 公开饲料显示，粤海饲料成立于1994年，于2022年上市，是一家主要从事水产饲料研发、生产及销售的 国家高新技术企业。 证券之星注意到，粤海饲料的营收在2022年上市当年达到70.92亿元的巅峰。不过其业绩增长已明显显 露疲态，其营收增速从上年的15.08%骤降至5.45%，归母净利润更是同比下降38.44%，相较上年同期 2.6%的降幅显著加大。 2023年、2024年，粤海饲料业绩持续下滑。 两个报告期 ...

Core Viewpoint - Guangdong Yuehai Feed Group Co., Ltd. (Yuehai Feed) has launched the "Yuehai Wealth Creation Campaign: Winning Summer Action" to capitalize on the peak season for aquaculture, aiming for dual goals of customer success in farming and a significant increase in group sales [2][3]. Group 1: Business Performance - From January to April this year, Yuehai Feed collected nearly 300 million yuan in advance payments, representing a year-on-year increase of nearly 50% [2]. - Product sales have shown significant growth, with high-end fish feed up over 15%, small shrimp feed up over 56%, yellow catfish feed up over 66%, live fish feed up nearly 50%, and puffed tilapia feed up over 36% [2]. Group 2: Strategic Focus - The "Winning Summer Action" will benchmark against industry leaders and focus on six strategic initiatives to enhance business operations [3]. - The company plans to strengthen channel cooperation and expand coverage of feed, seedling, and animal health products, while enhancing customer loyalty through continuous service [3]. Group 3: Market Expansion - Yuehai Feed will focus on high-end feed for shrimp, grouper, yellow catfish, and bass, as well as freshwater fish varieties like puffed tilapia and grass carp, targeting weak areas for market penetration [3][4]. - The company aims to achieve the highest market share in key regions and product categories [3]. Group 4: Service and Brand Development - To ensure service quality, Yuehai Feed will increase service frequency at farms and conduct skill competitions to strengthen the marketing team [3]. - Brand enhancement will be pursued through case studies, promotion of farming models, and community initiatives [3].

Core Viewpoint - Guangdong Yuehai Feed Group has launched the "Victory Summer Action" to enhance industry development and support aquaculture during the peak production season, aiming to cover over 10,000 farmers and achieve significant sales growth [2][3][6]. Group 1: Action Overview - The "Victory Summer Action" is a major marketing initiative following the earlier "Spring Battle Action," aimed at injecting energy into the industry during the summer peak [5][6]. - The action will run from June to October 2025, focusing on consolidating the achievements of the Spring Battle Action and seizing the golden period of aquaculture [17][18]. Group 2: Strategic Actions - The initiative includes six strategic actions to ensure growth and market presence: 1. Consolidate incremental achievements by enhancing channel cooperation and expanding product coverage [20][21]. 2. Deepen terminal services to address challenges such as high temperatures and disease outbreaks, providing technical support to farmers [23][24]. 3. Capture market share in key areas and species, particularly in freshwater fish, grouper, and shrimp feeds [25][26]. 4. Strive for market leadership in specific regions and species to solidify competitive advantages [27][28]. 5. Build a skilled service team through intensive training and practical experience [29][30]. 6. Enhance brand influence by promoting successful farming models and community initiatives [31]. Group 3: Performance Metrics - The company reported significant growth in sales during the first four months of the year, with high-end fish feed up 15%, small shrimp feed up 56%, and other products showing similar increases [34][35][36]. - The "Victory Summer Action" aims to conduct over 200 technical exchange meetings, reaching more than 10,000 farmers, and establish 500 demonstration ponds [39][40].

证券研究报告 | 行业策略 gszqdatemark 2025 05 25 年 月 日 行业走势 -30% -20% -10% 0% 10% 20% 2024-05 2024-09 2025-01 2025-05 农林牧渔 沪深300 作者 农林牧渔 传统与革新交织，优选景气与成长——2025 年中期策略 过去半年，我们看到各肉类蛋白价格保持坚挺，消费有所回升，此外种植 业关注拉尼娜天气周期临近，作物丰产预期或将结束，均指向传统消费领 域景气度好于预期，在市场一致性悲观的时间段里潜在长线的配置机会。 传统消费之外，新消费的方向逐步走向清晰。从大类来看，增进健康与收 获快乐的新消费亮点频现。符合年轻一代快乐消费的主要方向就是宠物相 关行业，包括宠物食品、医疗等，国产品牌在中高端市场加速发力，业绩 与预期双重增强。而涉及健康领域的新方向，包括减糖意识深化带来代糖 产业崛起，健康食品概念的魔芋、金针菇，视力保护概念水果蓝莓等，都 有颇多亮点。 投资建议。基于各板块景气判断与策略，关注标的如下：生猪养殖：牧原 股份、温氏股份、神农集团等；家禽与其他养殖：圣农发展、禾丰股份、 益生股份、立华股份、光明肉业；水产饲料：海 ...

1、美国对金属硅发起双反调查 2025年5月14日，应美国企业Ferroglobe USA, Inc.和Mississippi Silicon LLC于2025年4 月24的申请，美国商务部宣布对进口自安哥拉、澳大利亚、老挝和挪威的金属硅（Silicon Metal）发起反倾销调查、对进口自澳大利亚、老挝、挪威和泰国的金属硅发起反补贴调查。本案 主要涉及美国海关编码2804.69.1000和2804.69.5000项下产品。美国国际贸易委员会（ITC）预 计将最晚于2025年6月9日作出产业损害初裁。若美国国际贸易委员会裁定涉案产品的进口对美国 国内产业构成了实质性损害或实质性损害威胁，美国商务部将继续对本案进行调查并预计于2025 年7月18日作出反补贴初裁，2025年10月1日作出反倾销初裁。 据美方统计，2024年美国自各涉案国家进口被调查产品的金额分别约为：安哥拉415万美元、 澳大利亚3298万美元、老挝1842万美元、挪威3633万美元、泰国722万美元。 她指出，在压力背后，公司始终保持战略定力，提质降本，开拓创新，积极防控风险，稳健经 营；实现了水产饲料的逆势增长，持续巩固了公司在光伏行业核心 ...

股票代码：600438 股票简称：通威股份 公告编号：2025-056 一、董事会会议召开情况 （一）本次董事会会议由董事长刘舒琪女士主持，会议的召开符合《公司法》《公 司章程》及其它相关法律、法规及规章的规定。 （二）经全体董事一致同意，本次会议召开豁免提前发出会议通知时限要求。 （三）本次会议以通讯表决的方式于 2025 年 5 月 20 日召开。会议应出席董事 9 人，实际出席董事 9 人。 （四）本次会议共 3 项议案，均获全票通过。 债券代码：110085 债券简称：通 22 转债 通威股份有限公司 第九届董事会第一次会议决议公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者 重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 通威股份有限公司（以下简称"公司"）召开第九届董事会第一次会议，现将会议 的相关情况及会议决议公告如下： 二、董事会会议审议情况： （一）本次董事会会议独立董事专门会议及董事会专门委员会审议情况说明 本次会议议案中，《关于聘任公司经营管理层的议案》中人员名单已经董事会提名 委员会事前审议并获得全体委员一致通过；其中提请聘任周斌先生为公司财务总 ...

证券代码：001313 证券简称：粤海饲料 广东粤海饲料集团股份有限公司 投资者关系活动记录表 编号：2025-004 | | 特定对象调研 分析师会议 | | | --- | --- | --- | | 投资者关系活 | 业绩说明会 媒体采访 |  | | 动类别 | 新闻发布会 路演活动 | | | | 现场参观 其他 | | | 参与单位名称 | 公司采用网络远程方式进行，面向全体投资者 | | | 及人员姓名 | | | | 时间 | 2025 年 5 月 7 日 15:00-17:00 | | | | 公司通过东方财富路演平台 | | | 地点 | （http://roadshow.eastmoney.com/luyan/4698096）采用网络远程方式召开 | | | | 本次业绩说明会 | | | 上市公司接待 | 董事长、总经理：郑石轩先生；常务副总经理：郑会方先生；副总经理、 | | | 人员姓名 | 董事会秘书：冯明珍女士；副总经理、财务总监：林冬梅女士；独立董 | | | | 事：张程女士；保荐代表人：李兴刚先生。 | | | | 1、请问郑董事长，公司一季度饲料产品销售 ...

对于2024年业绩承压的原因，根据年报，2024年，近年来，受极端天气、病害等不利因素影响，水产行 业下游养殖水产品市场持续低迷，部分水产品销售价格下行且呈波动性，鱼粉、豆粕等主要原材料价格 波动较大，水产饲料行业成本压力转移不畅，对水产饲料行业经营利润带来冲击。 粤海饲料同日披露的2025年一季度报告显示，报告期内公司实现营业收入9.33亿元，同比增长9.58%； 归母净利润-2466.87元，亏损有所收窄。 尽管2024年经营业绩面临较大挑战，但粤海饲料仍然积极应对。对于当前关税问题对粤海饲料的影响， 粤海饲料相关人士向《证券日报》记者表示，国内饲料行业近年来积极布局豆粕减量替代工作，公司也 在此浪潮下开启"低蛋白日粮技术"研发，经多年实践打磨出"三高三低"技术战略，为应对危机、推动产 业升级筑牢了根基。 本报讯(记者丁蓉见习记者张美娜) 4月29日，广东粤海饲料（001313）集团股份有限公司(以下简称"粤海饲料")披露2024年年度报告。报 告期内，2024年，公司实现营业收入59.12亿元，归母净利润-8539.20万元。 据了解，在粤海饲料董事长郑石轩近期曾多次阐释"三高三低"技术战略，强调"降低 ...

登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：001313 证券简称：粤海饲料 公告编号：2025-013 广东粤海饲料集团股份有限公司2024年年度报告摘要 一、重要提示 本年度报告摘要来自年度报告全文，为全面了解本公司的经营成果、财务状况及未来发展规划，投资者 应当到证监会指定媒体仔细阅读年度报告全文。 非标准审计意见提示 □适用 √不适用 董事会审议的报告期利润分配预案或公积金转增股本预案 √适用 □不适用 是否以公积金转增股本 □是 √否 公司经本次董事会审议通过的利润分配预案为：以700,000,000股为基数，向全体股东每10股派发现金红 利0元（含税），送红股0股（含税），不以公积金转增股本。 董事会决议通过的本报告期优先股利润分配预案 □适用 □不适用 二、公司基本情况 所有董事均已出席了审议本报告的董事会会议。 1、公司简介 ■ 2、报告期主要业务或产品简介 （1）公司从事的主要业务 公司主要从事水产饲料研发、生产及销售，并以特种水产饲料为主。自设立以来，公司深耕特种水产饲 料领域，重视产品研发技术，不断追求创新，拥有深厚的技术底蕴、丰富的产品种类和完善的营销网 络。 （2）公 ...