Core Viewpoint - Longda Food has completed a comprehensive rectification regarding the violation of capitalizing interest on raised funds as pointed out by the Shandong Securities Regulatory Bureau, and has made retrospective adjustments to its financial reports for the relevant years [1] Group 1: Regulatory Actions - On January 30, 2026, Longda Food received a decision from the Shandong Securities Regulatory Bureau mandating corrective measures due to improper accounting practices identified during regulatory inspections [1] - The company was found to have two main accounting issues from 2021 to 2024: continuing to capitalize interest after transferring convertible bonds to fixed assets, and capitalizing interest from raised funds intended for temporary working capital [1] Group 2: Financial Reporting Adjustments - Longda Food has conducted a thorough review of its financial reports disclosed from 2021 to 2025, including quarterly and annual reports, and has released corrected annual reports and related financial statement notes on January 31 [1] Group 3: Company Background - Longda Food, established in 1996, operates primarily in the food industry, with additional segments in slaughtering and breeding, and has leading food research and development centers in Shandong, Shanghai, and Sichuan [1] Group 4: Market Information - As of the time of reporting, Longda Food's stock price is 4.10 yuan, with a market capitalization of 4.425 billion yuan [2]

Group 1 - The core viewpoint of the news is that Jingji Zhino is taking proactive measures to enhance shareholder value and stabilize the market through a series of announcements, including a share buyback plan and commitments from major shareholders and executives not to reduce their holdings [1][2] - The company plans to implement a new share buyback program with a total funding of no less than RMB 100 million and no more than RMB 200 million, with a buyback price cap of RMB 23.70 per share, potentially repurchasing at least 4.2194 million shares, which accounts for no less than 0.80% of the total share capital [1] - The controlling shareholder, Jingji Group, has decided to terminate its previously announced share reduction plan, and six directors and senior executives have signed a commitment letter to refrain from selling their shares for six months starting from December 8, 2025 [1] Group 2 - Analysts indicate that these measures reflect the controlling shareholder and executives' long-term confidence in Jingji Zhino's intrinsic value and their commitment to grow alongside the company, which is expected to bolster investor confidence and protect the rights of minority shareholders [2] - Jingji Zhino has maintained a long-term approach to shareholder returns, with cumulative cash dividends amounting to RMB 902 million over the past three years and an average net profit attributable to shareholders of RMB 1.078 billion per year [2] - For the first three quarters of 2025, Jingji Zhino achieved operating revenue of RMB 3.670 billion and a net profit attributable to shareholders of RMB 298 million, with its core breeding business contributing RMB 2.896 billion in revenue, demonstrating resilience during industry cycles [2]

Core Viewpoint - TianKang Biological (002100) has successfully reduced its breeding costs in the Gansu region to 12.25 yuan/kg as of September, attributed to enhanced management, technology, and production efforts over the past two years [1] Group 1: Cost Reduction - The cost in the Gansu region has decreased to 12.25 yuan/kg as of September [1] - The company has focused on improving management and technical capabilities in Gansu, which was previously lagging in breeding and management standards [1] Group 2: Management Innovations - The company has implemented an internal contracting system that links breeding results to the income of breeders and management personnel, thereby increasing their sense of responsibility [1] - Key personnel have been transferred from Xinjiang and Henan to strengthen the regional team, leading to significant improvements in breeding standards [1]