Core Points - The company held its 8th temporary meeting of the 9th Board of Directors on June 13, 2025, where several key resolutions were passed [1][2] Group 1: Project Approvals - The Board approved the transfer of multi-dimensional production capacity from Beijing Hualuo Feed Additive Plant, with an investment of 59.6241 million yuan to establish a feed additive plant in Linyi, Shandong Province [1] - The resolution received unanimous support with 7 votes in favor and no opposition or abstentions [1] Group 2: Capital Increase - The Board approved an increase in registered capital for its wholly-owned subsidiary, Zhongmu Hualuo Animal Husbandry Technology (Shandong) Co., Ltd., by 50 million yuan, raising its registered capital accordingly [2] - This decision was also unanimously supported with 7 votes in favor and no opposition or abstentions [2]

Core Insights - In April 2025, the national industrial feed production in China reached 27.53 million tons, showing a month-on-month increase of 4.2% and a year-on-year increase of 9.0% [1] Production Breakdown - The production of compound feed, concentrated feed, and additive premix feed increased year-on-year by 9.1%, 6.5%, and 9.7% respectively [1] Price Trends - The ex-factory prices of feed products have significantly decreased year-on-year, while the ex-factory prices of compound feed and concentrated feed showed slight month-on-month growth. In contrast, the ex-factory prices of additive premix feed primarily experienced a decline month-on-month [1]