Company Overview - Yisheng Co., established in 1989, is the largest ancestor meat chicken breeding enterprise in China and Asia, holding approximately 33% of the imported white feather meat chicken market share [3] - The company focuses on breeding high-quality livestock and poultry, with major products including parent and commercial meat chicken chicks, breeding pigs, and agricultural equipment [3] - The company has received multiple honors for its disease purification efforts and quality recognition in the poultry industry [3] Industry Overview - The total poultry meat production in China is on the rise, with white feather chicken meat accounting for nearly 50% of the poultry meat market in 2023 [4] - The per capita chicken consumption in China is increasing but still lags behind major chicken-consuming countries like the USA [4] - The Ministry of Agriculture aims to improve breeding efficiency by reducing average feed consumption per unit of animal product by 7% by 2030 [4] Market Dynamics - The company plans to import 230,000 sets of ancestor breeding chickens in 2024, maintaining a 33% share of the domestic imported ancestor white feather meat chicken market [8] - The expected sales volume of commercial chicken chicks in 2024 is approximately 570 million, reflecting a year-on-year decrease of about 9% [9] - The low price of live chickens is limiting the price support for commercial chicken chicks [10] Future Projections - The supply of commercial chicken chicks is expected to remain tight in 2025, with prices influenced by demand and potential increases in chicken meat prices [11] - The company anticipates an increase in the supply of parent chicken chicks in 2025 due to the import of ancestor breeding chickens [13] - The white feather chicken industry is projected to grow, driven by its cost-effectiveness and increasing consumer demand [14] Challenges - The inability to import breeding stock from the USA due to avian influenza may lead to a tighter supply of parent chicken chicks in the second half of 2025, impacting the supply of commercial chicken chicks in 2026 [6][14]

一、股东大会审议通过权益分派方案情况 权益分派实施公告 证券代码：002458 证券简称：益生股份 公告编号：2025-002 山东益生种畜禽股份有限公司 2024 年前三季度权益分派实施公告 本公司及董事会全体成员保证信息披露内容真实、准确和完整， 没有虚假记载、误导性陈述或重大遗漏。 特别提示： 1、山东益生种畜禽股份有限公司（以下简称"公司"）2024 年前 三季度权益分派方案为：以实施权益分派股权登记日的公司总股本 1,106,412,915股扣除已回购股份13,031,600 股后的1,093,381,315 股为基数，向全体股东每 10 股派发现金红利人民币 1.00 元（含税）， 共派发人民币 109,338,131.50 元，不送红股且不进行资本公积金转 增股本。 2、根据《公司法》《上市公司股份回购规则》等有关规定，公司 通过回购专用证券账户持有的本公司股份不享有参与本次利润分配 的权利，本次权益分派实施后，计算除权除息价格时，按股权登记日 的公司总股本折算每 10 股现金分红金额=实际现金分红总额÷股权 登记日的总股本×10=109,338,131.50 元÷1,106,412,915 股 ...

关于调整回购股份价格上限的公告 证券代码：002458 证券简称：益生股份 公告编号：2025-003 山东益生种畜禽股份有限公司 关于 2024 年前三季度权益分派实施后调整 回购股份价格上限的公告 本公司及董事会全体成员保证信息披露内容真实、准确和完整， 没有虚假记载、误导性陈述或重大遗漏。 重要内容提示： 1、调整前回购股份价格上限：不超过人民币 12.00 元/股（含）。 2、调整后回购股份价格上限：不超过人民币 11.90 元/股（含）。 3、回购股份价格上限调整生效日期：2025 年 01 月 10 日（2024 年前三季度权益分派的除权除息日）。 一、回购股份基本情况 山东益生种畜禽股份有限公司（以下简称"公司"） 于 2024 年 11 月 01 日召开第六届董事会第二十三次会议，审议通过了《关于以 集中竞价交易方式回购公司股份方案的议案》。公司拟使用银行专项 贷款资金及自有资金以集中竞价交易方式回购公司部分人民币普通 股（A 股）股票，用于后期实施员工持股计划。本次回购股份的资金 总额为不低于人民币 10,000 万元（含），不超过人民币 20,000 万元 （含），回购股份的价格不超过人民 ...

山东益生种畜禽股份有限公司 关于回购股份进展情况的公告 本公司及董事会全体成员保证信息披露内容真实、准确和完整， 没有虚假记载、误导性陈述或重大遗漏。 关于回购股份进展情况的公告 证券代码：002458 证券简称：益生股份 公告编号：2025-001 公司回购股份的时间、数量、价格及集中竞价交易的委托时段均 符合《上市公司股份回购规则》《深圳证券交易所上市公司自律监管 指引第 9 号——回购股份》及公司回购股份方案的相关规定，具体如 下： 1、公司未在下列期间内回购公司股份： 山东益生种畜禽股份有限公司（以下简称"公司"）于 2024 年 11 月 01 日召开第六届董事会第二十三次会议，审议通过了《关于以 集中竞价交易方式回购公司股份方案的议案》，同意公司使用银行专 项贷款资金及自有资金以集中竞价交易方式回购公司部分已发行的 人民币普通股（A 股），本次回购股份将用于实施员工持股计划，回购 股份的资金总额不低于人民币 10,000 万元（含），不超过人民币 20,000 万元（含），回购股份的价格不超过人民币 12.00 元/股（含）， 具体回购股份的数量以回购期限届满或回购完毕时实际回购的股份 数量为准， ...

2024 年 11 月份鸡苗和种猪销售情况简报 销售情况简报 证券代码：002458 证券简称：益生股份 公告编号：2024-103 山东益生种畜禽股份有限公司 2、种猪销售情况 公司2024年11月种猪销售数量3,665头，销售收入847.74万元， 同比变动分别为397.29%、283.39%，环比变动分别为-42.36%、-44.54%。 上述财务数据均未经审计，可能与公司定期报告披露的数据存在 一定差异，仅作为阶段性财务数据供投资者参考。 二、原因说明 1、受前期祖代引种量减少的影响，商品代鸡苗供给整体偏紧， 自今年下半年以来，公司商品代鸡苗价格逐月上涨，销售单价较 去年同期也大幅提高，故公司 2024 年 11 月白羽肉鸡苗销售收入同 比增幅较大。 销售情况简报 本公司及董事会全体成员保证信息披露内容真实、准确和完整， 没有虚假记载、误导性陈述或重大遗漏。 一、2024年11月份销售情况 1、鸡苗销售情况 山东益生种畜禽股份有限公司（以下简称"公司"）2024 年 11 月白羽肉鸡苗销售数量 5,729.68 万只，销售收入 30,083.26 万元， 同比变动分别为 16.93%、88.81%，环 ...

关于首次回购公司股份的公告 证券代码：002458 证券简称：益生股份 公告编号：2024-102 山东益生种畜禽股份有限公司 关于首次回购公司股份的公告 本公司及董事会全体成员保证信息披露内容真实、准确和完整， 没有虚假记载、误导性陈述或重大遗漏。 山东益生种畜禽股份有限公司（以下简称"公司"）于 2024 年 11 月 01 日召开第六届董事会第二十三次会议，审议通过了《关于以 集中竞价交易方式回购公司股份方案的议案》，同意公司使用银行专 项贷款资金及自有资金以集中竞价交易方式回购公司部分已发行的 人民币普通股（A 股），本次回购股份将用于实施员工持股计划，回购 股份的资金总额不低于人民币 10,000 万元（含），不超过人民币 20,000 万元（含），回购股份的价格不超过人民币 12.00 元/股（含）， 具体回购股份的数量以回购期限届满或回购完毕时实际回购的股份 数量为准，实施期限为董事会审议通过回购股份方案之日起 12 个月 内。具体内容详见 2024 年 11 月 05 日公司刊登于《中国证券报》《上 海证券报》《证券时报》《证券日报》和巨潮资讯网（www.cninfo.com.cn） 的《关于 ...

山东益生种畜禽股份有限公司 关于回购股份进展情况的公告 本公司及董事会全体成员保证信息披露内容真实、准确和完整， 没有虚假记载、误导性陈述或重大遗漏。 山东益生种畜禽股份有限公司（以下简称"公司"）于 2024 年 11 月 01 日召开第六届董事会第二十三次会议，审议通过了《关于以 集中竞价交易方式回购公司股份方案的议案》，同意公司使用银行专 项贷款资金及自有资金以集中竞价交易方式回购公司部分已发行的 人民币普通股（A 股），本次回购股份将用于实施员工持股计划，回购 股份的资金总额不低于人民币 10,000 万元（含），不超过人民币 20,000 万元（含），回购股份的价格不超过人民币 12.00 元/股（含）， 具体回购股份的数量以回购期限届满或回购完毕时实际回购的股份 数量为准，实施期限为董事会审议通过回购股份方案之日起 12 个月 内。具体内容详见 2024 年 11 月 05 日公司刊登于《中国证券报》《上 海证券报》《证券时报》《证券日报》和巨潮资讯网（www.cninfo.com.cn） 的《关于以集中竞价交易方式回购公司股份方案的公告》（公告编号： 2024-094）。 关于回购股份进展情况的 ...

Summary of the Conference Call Company and Industry Overview - The conference call was held by Yisheng Co., a leading company in the breeding and supply of poultry genetics in China, established in 1989. The company focuses on the breeding of high-quality poultry and has a significant market share in both breeding and meat production sectors in China and Asia [1][2]. Key Financial Highlights - In the third quarter, the company sold over 3 million sets of parent stock with a cost of approximately 17 RMB per set and a selling price of nearly 50 RMB, resulting in a profit of 100 million RMB [2]. - The total sales of commercial broiler chicks reached 1.5 billion pounds, with a cost of less than 2.7 RMB and a selling price of around 2.9 RMB, yielding a profit of over 30 million RMB [2]. - The total profit for the first three quarters was 300 million RMB, with expectations of selling over 300 million sets of parent stock and 1.4 billion commercial chicks in the fourth quarter [2]. Supply and Demand Analysis - The supply of breeding stock is tight due to a significant reduction in breeding stock imports since May 2020, with the company holding a 40% market share of the national breeding stock [3][4]. - The demand for chicken remains strong, driven by the expansion of the poultry industry and consumer trends favoring chicken over other meats due to its nutritional advantages and cost-effectiveness [4][5]. - The company anticipates that the price of chicken will remain favorable, influenced by factors such as the growth of the takeaway food industry and changing consumer preferences [5][6]. Performance and Market Trends - The performance of breeding stock has reportedly declined, with higher mortality and disease rates affecting production [9][15]. - The company expects a continued tight supply of commercial chicks into 2024, with production levels influenced by the previous year's breeding stock availability [8][26]. - The overall market for chicken is projected to grow, with increasing per capita consumption in China, which rose from 13 kg in 2014 to 18 kg in 2023 [13]. Future Outlook - The company plans to increase its production capacity for commercial chicks in 2024, with new facilities coming online in regions like Shanxi and Hebei [10][24]. - The company aims to expand its parent stock and commercial chick production to reach a target of 1 billion chicks within five years [25]. - The market for poultry is expected to remain competitive, with ongoing adjustments in breeding practices and potential changes in import policies affecting supply dynamics [17][24]. Additional Insights - The company noted that the performance of imported breeding stock remains superior to domestic varieties, which may impact pricing strategies and market share [21][22]. - The company is also monitoring international breeding stock import policies, particularly from the U.S. and Europe, which could influence future supply chains [24]. This summary encapsulates the key points discussed during the conference call, highlighting the company's performance, market dynamics, and future strategies in the poultry industry.

Group 1: Company Overview - Yisheng Co., established in 1989, focuses on breeding and promoting high-quality poultry breeds, being the largest ancestor meat chicken breeding enterprise in China and Asia [2][4] - The company has maintained the largest chicken breeding scale in China for nearly 20 years, accounting for approximately 1/3 of the imported white feather meat chicken market [4] Group 2: Sales Performance - In the first three quarters of 2024, the company sold over 14,000 breeding pigs, a significant increase from 1,600 in the same period last year [4] - The sales of parent white feather meat chicken seedlings reached 9 million sets, a decrease of 20% year-on-year; sales of commercial chicken seedlings were 420 million, down 15% year-on-year [4] - The company expects to sell over 3 million parent white feather meat chicken seedlings and 14 million commercial chicken seedlings in Q4 2024 [4] Group 3: Market Supply and Demand - In 2023, China imported over 400,000 sets of ancestor meat chicken, with the company accounting for 160,000 sets, nearly 40% of the total [4] - The overall supply of commercial chicken seedlings has decreased by 15% due to low import volumes, contributing to lower chicken prices [4] - Downstream expansion in breeding and slaughtering supports demand for chicken seedlings [6] Group 4: Future Outlook - The company anticipates that the price of parent chicken seedlings will remain high due to tight supply conditions [6] - The growth of the takeaway industry and the rise of prepared dishes are expected to further boost chicken consumption [6] - National policies aimed at stimulating consumption are likely to enhance chicken prices, thereby increasing demand for chicken seedlings [6][8] Group 5: Industry Trends - The white feather chicken market is projected to continue growing, driven by its cost-effectiveness and nutritional advantages compared to other meats [8] - The increasing proportion of poultry meat consumption in the overall meat market indicates a positive trend for the white feather chicken sector [8]

Group 1 - The core viewpoint is that Yisheng Co. anticipates a tight supply of commodity broiler chicks in the first quarter of next year due to a decrease in the breeding stock [1] - The price of commodity broiler chicks will primarily depend on demand conditions, particularly influenced by the price of chicken meat [1] - An increase in chicken meat prices is expected to drive up the prices of live broilers and chick prices [1]