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：2025-008 | | 特定对象调研 分析师会议 | | --- | --- | | 投资者关系活 | 媒体采访 业绩说明会 | | 动类别 | 新闻发布会 路演活动 | | | 企同行"走进上市公司活 现场参观 其他（国信证券"e | | | 动） | | | 国信证券 陈永峰、黎杰、凌上晓、梁烨明、吴少梅、陈绍演以及参加公 | | 参与单位名称 | 司联合国信证券组织的"走进上市公司"活动的投资者一行 人 23 | | 及人员姓名 | 粤海饲料董事、常务副总经理 郑会方先生 | | | 粤海饲料证券事务代表 黎维君女士 | | 时间 | 2025 年 11 月 7 日 | | 地点 | 粤海饲料 2 号会议室 | | 形式 | 现场会议 | | | 一、公司基本情况介绍 | | | 公司是一家主要从事水产饲料研发、生产及销售的国家创新型试点 | | | 企业及高新技术企业，是我国大型的集团化优质水产饲料企业，自 1994 | | | 年设立以来一直深耕特种水产饲料领域，拥有深厚的技术底蕴 ...

Company Overview - Guangdong Yuehai Feed Group Co., Ltd. is a national innovative pilot enterprise primarily engaged in the R&D, production, and sales of aquatic feed, established in 1994 [2] - The company specializes in high-quality aquatic feed, particularly for shrimp and marine fish, with special aquatic feed accounting for approximately 70% of total feed sales [2][3] - The company has a strong market presence in southern China, with about 70% of its revenue generated from this region [2] Financial Performance (Q3 2025) - The company achieved a feed sales volume of 660,000 tons, a year-on-year increase of 11.93% [3][4] - Revenue reached CNY 4.997 billion, reflecting a year-on-year growth of 12.18% [3] - Net profit attributable to shareholders was CNY 26.198 million, a significant increase of 138.86% year-on-year [3] Product Performance - Specific feed types showed varied growth: shrimp and crab feed increased by over 20%, marine special fish feed by over 10%, and general freshwater feed by about 5% [4] - Some species, such as sea bass and grass carp, experienced a decline in sales volume, with decreases ranging from 9% to 18% due to market conditions [4] New Production Facilities - The company launched a new production facility in Anhui with an annual capacity of 100,000 tons, involving a total investment of CNY 170 million [5][6] - This facility aims to serve as a core service hub for the East and Central China regions, enhancing local supply and reducing costs for customers [6][7] International Expansion - The company opened its first overseas subsidiary in Vietnam, with an annual production capacity exceeding 100,000 tons and plans for future expansion to 200,000 tons [8][9] - The Vietnamese facility aims to leverage local resources and serve markets in Southeast Asia, including India and Malaysia [9][10] New Product Development - The company has introduced new products in the prepared food sector, achieving a sales volume of over 6,000 tons, a 92% increase year-on-year, with revenue of CNY 172 million, up 70% [10] - The focus on high-value species such as shrimp and golden pomfret is expected to enhance market competitiveness [11] Market Outlook - The company anticipates a positive outlook for Q4 2025, driven by seasonal demand during the National Day, New Year, and Spring Festival, which is expected to boost consumption and prices in the aquatic feed market [12]

Core Viewpoint - The opening of the Vietnam Yuehai Feed factory marks a significant step in Yuehai Feed's globalization strategy, aiming to penetrate the Southeast Asian market and enhance its operational capabilities abroad [1][2]. Group 1: Company Expansion - Yuehai Feed's wholly-owned subsidiary in Vietnam has officially opened, with a focus on expanding its production capacity and gaining international operational experience [1]. - The factory occupies 5 hectares and has an initial investment of 5000 billion VND (approximately 1.4 million RMB), with a production capacity exceeding 100,000 tons annually, and plans to expand to 200,000 tons [2]. - The factory features advanced technology, including four production lines for shrimp feed and one for expanded feed, utilizing international leading equipment for automated production [2]. Group 2: Market Strategy - The company aims to enhance the Vietnamese aquaculture industry by improving growth rates by 10%, reducing feed conversion ratios by 10%, and cutting waste rates by 50% [2]. - Yuehai Feed is targeting the Vietnamese aquaculture market, which has a capacity of nearly 600,000 tons, including a shrimp feed market of approximately 90,000 tons [3]. - The company plans to leverage its technological advantages to capture market share and promote local aquaculture development, fostering a win-win situation for both the company and the region [3]. Group 3: Financial Performance - Yuehai Feed has shown strong growth momentum, achieving its best performance since listing in the first half of the year, with a profit increase of 216.48% year-on-year in the third quarter [3]. - The successful opening of the Vietnam factory is expected to further expand the company's growth potential and solidify its global strategy [3].