在产品方面，周茜称，公司除了持续深耕猪、奶牛和家禽市场和布局水产、肉牛羊等市场外，还将继续 加大对研发资源的投入，开发与研究高效、安全、环保型的饲料添加剂和酶解蛋白饲料原料产品及其应 用方案。公司"年产10万吨玉米蛋白精加工项目"预计在今年建成并进行试生产，项目建成投产后将正式 向市场推出玉米浓缩蛋白和玉米酶解蛋白等系列产品，对缓解国内饲料蛋白资源紧缺的现状有积极作 用，对公司业务发展将带来新的增长点。 美农生物专业从事饲料添加剂和酶解蛋白饲料原料研发、生产和销售。（全景网） 更多详情，请点击：https://rs.p5w.net/html/175611728073329.shtml 沟通传递价值 信心共筑未来——2025年上海辖区上市公司集体接待日暨中报业绩说明会9月19日在全景 网举行。美农生物（301156）财务总监周茜表示，公司下半年将坚持"深耕国内 突破国际"的市场战略 和"分种分品、全程营养"的产品战略。在国内市场，公司聚焦核心客户开发，实施"扩一品工程"，双升 服务、交叉销售，既实现客户采购成本最优，又实现了客户价值最大化。在海外市场，坚持"走出去、 请进来"的海外市场发展策略，不断投入资源加大 ...

Group 1 - The core viewpoint of the news highlights the financial performance and market activity of Meino Biological, indicating a positive trend in revenue and net profit growth [2][3] - As of August 28, Meino Biological's stock price increased by 2.19%, with a trading volume of 93.57 million yuan, and a net financing purchase of 1.43 million yuan [1] - The company has a total financing and securities balance of 46.28 million yuan, which accounts for 2.83% of its circulating market value, indicating a relatively high level compared to the past year [1] Group 2 - For the first half of 2025, Meino Biological reported a revenue of 236 million yuan, representing a year-on-year growth of 13.69%, and a net profit attributable to shareholders of 23.53 million yuan, up 17.68% year-on-year [2] - The company has distributed a total of 154 million yuan in dividends since its A-share listing [3] - As of June 30, 2025, the number of shareholders increased to 12,700, with an average of 5,878 circulating shares per person, a decrease of 33.43% from the previous period [2]

Group 1 - The core viewpoint of the articles highlights the strong performance of Meino Biological in the first half of 2025, with a revenue of 236 million yuan, a year-on-year increase of 13.69%, and a net profit attributable to shareholders of 23.527 million yuan, up 17.68% [1] - The company has maintained a robust growth in its international business, achieving over 20% growth in overseas revenue, amounting to 90.5632 million yuan in the first half of the year, with significant contributions from markets in Vietnam, Russia, Brazil, and several other countries [2] - Meino Biological aims to evolve into a global resource integration platform for the livestock industry, leveraging its international business network to export quality additives and introduce advanced products to China, enhancing the efficiency of domestic feed and breeding enterprises [3] Group 2 - The "Annual Production of 100,000 Tons of Corn Protein Refining Project" is progressing rapidly and is expected to begin trial production within the year, which will help alleviate the domestic shortage of protein resources in feed [4] - The new corn protein products, including corn concentrated protein and corn enzymatic protein, will significantly improve the nutritional value and digestibility of corn protein, meeting the high protein demands of poultry and aquaculture [4] - The company is actively applying for patents related to the production processes of its new products, indicating a commitment to innovation and product development [4]

Core Insights - Shanghai Meino Biological Technology Co., Ltd. reported a revenue of 236 million yuan for the first half of 2025, representing a year-on-year growth of 13.69% [1] - The company's net profit attributable to shareholders reached 23.53 million yuan, up 17.68% year-on-year, while the net profit after deducting non-recurring items was 21.84 million yuan, reflecting a growth of 27.46% [1] Market Strategy - The company adheres to a market strategy of "deepening domestic operations and breaking into international markets" and a product strategy of "diversified seeds and products, full-process nutrition" [1] - Meino Biological aims to become a global leader in animal nutrition technology, emphasizing its mission of providing better solutions for animals and humans [1] International Business Performance - The company's international business continues to perform well, with a dual approach of "going out" to develop new markets and "digging in" to deepen existing market value [1] - The revenue from international business has approached 40% of the company's total operating income, maintaining a growth rate of over 20% [1] Product Development - The company focuses on industry demands for "quality improvement and efficiency enhancement" and "green safety," continuously developing efficient, safe, and environmentally friendly feed additives and hydrolyzed protein feed raw materials [2] - The revenue from the main feed additive and hydrolyzed protein feed raw material business has seen varying degrees of growth compared to the same period last year, with the intestinal health product segment experiencing over 60% year-on-year growth, significantly contributing to the company's overall performance [2]

Core Insights - Meino Bio (301156.SZ) reported a revenue of 236 million yuan for the first half of 2025, representing a year-on-year growth of 13.69% [1] - The company achieved a net profit attributable to shareholders of 23.53 million yuan, up 17.68% year-on-year, and a net profit excluding non-recurring items of 21.84 million yuan, which is a 27.46% increase [1] - Operating cash flow increased by 70.09% year-on-year, indicating an ongoing optimization of the financial structure [1] Company Performance - International market performance was strong, with overseas revenue reaching 90.56 million yuan, growing over 20% year-on-year, and sales covering more than 40 countries across Asia, Europe, and Africa [1] - The company participated in international exhibitions and hosted over 100 overseas clients, showcasing significant global expansion efforts [1] Research and Development - The company made breakthroughs in R&D, adding two new patents related to cleaning wastewater recovery systems and improving thermal efficiency in coating machines [1] - Chengdu Meiyide, a subsidiary, received recognition as one of the "Top 100 Brands in China's Aquaculture Industry" [1] Production and Digital Transformation - The annual production project of 100,000 tons of corn protein processing in Shandong is set to alleviate the domestic shortage of feed protein materials and is expected to begin trial production within the year [1] - The company is advancing its digital transformation, having implemented intelligent manufacturing MES systems in its Shanghai and Suzhou plants to enhance production control [1] Product Strategy - The product structure has been optimized, with gut health products like "Meile Zinc" becoming significant growth drivers [2] - The development of non-grain protein raw materials in the enzymatic protein feed business aligns with national food security strategies by reducing reliance on soybean meal and fish meal [2] Industry Context - The overall production in China's livestock industry remains stable, with a 2.8% year-on-year increase in the production of pork, beef, mutton, and poultry in the first half of 2025, providing stable demand for the feed additive industry [2] - Meino Bio's product strategy of "dividing by species and products, full-process nutrition" is being implemented across multiple sectors, including pigs, ruminants, and poultry, which is expected to further enhance performance as the corn protein processing project comes online [2]

Group 1: Company Strategy and Product Development - The company adopts a "segmented species, comprehensive nutrition" product development strategy, establishing a diverse product system to enhance competitive advantages in a challenging market [2][3] - Various comprehensive solutions are provided to meet different customer needs, such as improving animal feed intake and maintaining gut health [3] - The company focuses on continuous product innovation and development, particularly in the fields of feed additives and enzymatic protein feed materials [4][7] Group 2: Market Position and Growth Opportunities - The company has a global market presence, covering various animal categories including pigs, poultry, ruminants, and aquaculture [4] - International market revenue increased by 25% year-on-year, while domestic market revenue has faced challenges for three consecutive years [6][9] - The company plans to expand its product applications in ruminants and aquaculture to mitigate risks associated with the cyclical nature of the pig farming industry [5][9] Group 3: Financial Performance and Management - In Q1 2025, the company reported revenue of 99.85 million, a year-on-year increase of 1.99%, while net profit decreased by 5.4% [6][9] - The company emphasizes cash flow management through inventory optimization and accounts receivable recovery, aiming to enhance operational cash flow [5][9] - R&D investment decreased by 4.93%, but the number of R&D personnel increased by 7.25%, indicating a focus on maintaining technological advantages [8][10] Group 4: Future Outlook and Risk Management - The company acknowledges uncertainties in the market, such as competition and raw material price fluctuations, but views these as both challenges and opportunities [4][9] - The company is committed to enhancing its operational quality and creating sustainable returns for investors through improved communication and engagement [6][9] - The company is advancing a corn protein processing project with an annual capacity of 100,000 tons, expected to be operational by 2025, to optimize product structure and create new revenue streams [9][10]

Group 1: International Market Development - The company has established a sales network in over 40 countries and regions, including Vietnam, Russia, Thailand, and Brazil, by the end of 2024 [3][10] - International market business revenue grew by over 25% year-on-year in 2024, with overseas business accounting for over 38% of total revenue [3][9] - The company aims to enhance its international market influence and position through increased investment and product launches along the "Belt and Road" initiative [3][9] Group 2: Competitive Advantages - The company has over 20 years of experience in international market development, establishing a unique brand image and a comprehensive sales network [4] - A high-quality, professional international team provides comprehensive services to overseas distributors and customers, enhancing brand value and differentiation [4] - The company actively participates in global exhibitions and forums to strengthen its brand presence in international markets [4] Group 3: Corn Protein Processing Project - The company is investing in a corn protein processing project with an annual capacity of 100,000 tons, addressing the domestic shortage of feed protein resources [5][6] - The project is expected to enhance the nutritional value and functionality of corn protein products, aligning with national industry policies [5][6] - Upon full completion, the project will provide a diverse product range, mitigating market volatility risks and expanding revenue growth opportunities [6][7] Group 4: Product Strategy and Market Focus - The company’s product strategy emphasizes "diversified nutrition" and focuses on pigs, ruminants, poultry, and aquaculture [12] - In 2024, the revenue breakdown for main products was 60.93% for functional feed additives, 19.97% for nutritional feed additives, and 12.84% for enzymatic protein feed materials, with growth rates of 6.77% and 9.81% respectively [11] - The company plans to enhance its product line and market presence through increased R&D investment and the introduction of high-value products [12]

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。 所有董事均已出席了审议本报告的董事会会议。 容诚会计师事务所（特殊普通合伙）对本年度公司财务报告的审计意见为：标准的无保留意见。 证券代码：301156 证券简称：美农生物 公告编号：2025-022 本报告期会计师事务所变更情况：公司本年度会计师事务所由变更为容诚会计师事务所（特殊普通合 伙）。 非标准审计意见提示 □适用 √不适用 公司上市时未盈利且目前未实现盈利 □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 公司经本次董事会审议通过的利润分配预案为：以实施权益分派股权登记日登记的公司总股本为基数， 向全体股东每10股派发现金红利3.2元（含税），送红股0股（含税），以资本公积金向全体股东每10股 转增0股。 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 1、公司简介 营养性饲料添加剂是指用于补充饲料营养成分的少量或者微量物质，包括饲料级氨基酸、维生素、微量 矿物元素、酶制剂、非蛋白 ...