Core Viewpoint - The company announced the transfer of 97.5% equity in Hebei Chenguang Tongsheng Pharmaceutical Co., Ltd. to Sichuan Tongsheng Biopharmaceutical Co., Ltd. for a price of 58.2347 million yuan, resulting in the former no longer being a subsidiary within the company's consolidated financial statements [2]. Group 1 - The board of directors approved the proposal for the equity transfer during the 19th meeting of the fifth session held on September 20, 2025 [2]. - The equity transfer has been completed with the necessary business registration changes and the issuance of a registration notice by the Hebei Guantao Economic Development Zone [2]. - Following the completion of this transfer, Chenguang Pharmaceutical will no longer hold any equity in Chenguang Tongsheng Pharmaceutical [2].

董事会 2025年11月26日 近日，晨光同晟制药公司完成相关股权变更事项的工商变更登记手续，并取 得了河北馆陶经济开发区出具的《登记通知书》，本次股权转让完成后晨光药业 将不再持有晨光同晟制药公司股权，晨光同晟制药公司将不再是公司合并报表范 围内的子公司。 特此公告 晨光生物科技集团股份有限公司 证券代码：300138 证券简称：晨光生物 公告编号：2025—124 晨光生物科技集团股份有限公司 关于转让控股子公司股权的进展公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 晨光生物科技集团股份有限公司（以下简称"公司"）于 2025 年 9 月 20 日召开的第五届董事会第十九次会议审议通过了《关于转让控股子公司股权的议 案》，同意全资子公司——河北晨光药业有限公司（以下简称"晨光药业"）以 5,823.47 万元的转让价格将持有的河北晨光同晟制药有限公司（以下简称"晨 光同晟制药"）97.5%股权转让给四川同晟生物医药有限公司（具体内容请见公 司于 2025 年 8 月 20 日、9 月 23 日披露于巨潮资讯网上的相关公告文件）。 ...

证券代码：300138 证券简称：晨光生物 公告编号：2025—123 晨光生物科技集团股份有限公司 关于使用部分闲置募集资金进行现金管理到期收回的公告 1、公司购买的理财产品不得用于质押。仅限于办理结构性存款或购买安全 性高、流动性好的理财产品，总体风险可控。 2、公司将及时分析和跟踪产品的投向、进展等情况，一旦发现或判断存在 可能影响公司资金安全的风险因素，将及时采取相应的措施，控制投资风险。 3、募集资金使用由公司内部审计部门进行审计与监督，并向董事会审计委 员会报告。 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 晨光生物科技集团股份有限公司（以下简称"公司"）于 2024 年 8 月 25 日召开的第五届董事会第十二次会议、第五届监事会第十一次会议审议通过了 《关于使用部分暂时闲置募集资金进行现金管理的议案》，同意公司使用不超过 1.6 亿元暂时闲置募集资金进行现金管理，用于购买安全性高、流动性好的理财 产品/结构性存款产品等，期限为自本次董事会审议通过之日起不超过 12 个月 （详细内容请见 2024 年 8 月 27 日披露于巨潮资讯网的相关公 ...

Group 1: Core Insights - The financing of listed companies in the sugar substitute industry primarily aims to enhance production capacity [1] - The majority of external investments by representative companies focus on expanding upstream and downstream operations [1][6] Group 2: Financing and Investment - The main financing methods for listed companies include IPOs, private placements, and convertible bonds, with a focus on new projects and capacity enhancement [1] - Notable external investments include significant amounts such as 100 million RMB by Sanyuan Bio and 10 million RMB by Hainan Baolijian [2][3][4] Group 3: Industry Parks and Development - The number of sugar substitute industrial parks in China is limited, with major parks located in Shandong, which is recognized as a global production base [7][8] - The Dezhou High-tech Zone in Shandong has a production capacity of 1.5 million tons and a domestic market share of over 70% [8] Group 4: Mergers and Acquisitions - Recent mergers and acquisitions in the sugar substitute industry are primarily driven by midstream companies seeking to expand scale and secure upstream resources [9][12] - Key acquisitions include Huakang's purchase of Henan Yuxin Sugar Alcohol Co. for 1.098 billion RMB, aimed at increasing market share [12]

证券代码：300138 证券简称：晨光生物 公告编号：2025—122 晨光生物科技集团股份有限公司 关于为子公司银行借款提供担保的进展公告 新疆晨光与焉耆农行就上述借款事宜签署了《保证合同》，担保金额为： 10,000 万元；保证方式为：连带责任保证；保证期间为：主合同约定的债务履 行期限届满之日起三年；保证范围为：债务人在主合同项下应偿付的借款本金、 利息、罚息、复利、违约金、损害赔偿金、按《中华人民共和国民事诉讼法》有 关规定确定由债务人和担保人承担的迟延履行债务利息和迟延履行金、保全保险 费以及诉讼(仲裁)费、律师费等债权人实现债权的一切费用。 发生下列情形之一的，债权人有权要求保证人履行保证责任：主合同项下债 务履行期限届满，债权人未受清偿；债务人、保证人被人民法院受理破产申请或 者裁定和解；债务人、保证人被撤销、吊销营业执照、责令关闭或者出现其他解 散事由；保证人违反本合同项下义务；其他严重影响债权实现的情形；债权人与 保证人采取任何方式约定的保证人应履行担保责任的其他情形。 三、累计对外担保情况 上述担保情况变动后，公司及子公司累计决议对合并报表范围内主体融资担 保总额为 250,000 万元， ...

晨光生物科技集团股份有限公司 证券代码：300138 证券简称：晨光生物 公告编号：2025—121 上述三方/四方监管协议明确了各方的权利和义务，其内容与深圳证券交易 所三方监管协议范本不存在重大差异，本公司在履行三方/四方监管协议进程中 不存在问题。 截至公告披露日，公司募集资金专户开立情况如下： 关于注销部分募集资金专户的公告 | | | | | 账户状 | | --- | --- | --- | --- | --- | | 序号 | 开户银行 | 银行账号 | 募集资金用途 | | | | | | | 态 | 经中国证券监督管理委员会证监许可﹝2019﹞2571 号文件核准，晨光生物 科技集团股份有限公司（以下简称"公司"或"晨光生物"）向社会公开发行 面值总额 6.3 亿元可转换公司债券，期限 6 年。本次发行可转换公司债券的募 集资金总额为人民币 6.3 亿元，扣除与本次可转换公司债券发行相关的发行费 用人民币 10,955,660.36 元（不含税），本次共募集资金净额为 619,044,339.64 元。上述募集资金到位情况已经中审众环会计师事务所（特殊普通合伙）验证 确认，并出具了众环验字[ ...

Summary of the Conference Call for Morning Bio Company Overview - **Company**: Morning Bio (晨光生物) - **Industry**: Natural colorants and health products Key Points and Arguments Industry Trends - The price of products such as chili red and chili extract is expected to rebound, indicating the end of the industry's price decline trend, with a clear turning point identified [2][4] - The demand for natural health products is continuously growing, with an increase in the penetration rate of natural colorants in mature markets and an expanding consumption share of natural medicinal extracts [2][8] - The U.S. is gradually phasing out synthetic colorants, which is expected to create significant incremental demand for natural colorants in the coming years [3][15] Financial Performance - In 2025, Morning Bio's overall operations have shown significant recovery, with improvements in revenue, product sales, and profits despite a decline in revenue due to lower product prices and accounting policy adjustments [4][26] - The company reported a profit of approximately 10 million yuan in Q3 2025, a significant improvement from a loss of nearly 100 million yuan in the same period last year [26] Product Insights - Lutein prices have increased by over ten percent due to a contraction in raw material supply, leading to a gradual recovery in gross margins [5][6] - Small varieties like stevia glycosides and Sichuan pepper extracts are showing good development trends, with strong demand anticipated [2][5] Cottonseed Business Strategy - Morning Bio is gradually developing its cottonseed business independently, focusing on processing rather than trading, with a current capacity of 1.1 million tons [2][7] - The company employs price locking and futures hedging to manage risks in the cottonseed business, ensuring stable profits [10][27] Market Position and Future Plans - The industry is characterized by high concentration, with few companies holding significant capacity, making additional capacity investments less meaningful [9][28] - Morning Bio aims to maintain stable processing operations and may consider a spin-off listing to attract industry partners [9][19] Cost Management and Inventory - The company uses a moving weighted average method for accounting, ensuring that inventory levels are managed effectively [11][12] - Safety stock is maintained to support several months of usage, with procurement strategies adjusted based on market conditions [12][25] Competitive Landscape - In the health food sector, Morning Bio primarily operates as an OEM, with over 70% of clients being overseas health product companies [22][20] - The company holds about one-third of the market share in lutein, with a competitive edge in raw material control and product quality [20][21] Financial Outlook - Management expenses are expected to grow in line with business development, while sales and financial expenses will grow at a slower rate than business growth due to scale effects [29] Regulatory Impact - The gradual elimination of synthetic colorants is expected to change the industry landscape, increasing technical barriers and potentially leading to price increases due to higher demand for natural colorants [28] Additional Important Insights - Morning Bio is actively expanding its health product offerings, including health foods and traditional Chinese medicine, with significant revenue growth anticipated from new production lines [19] - The company is also exploring overseas raw material sourcing, particularly in Zambia, although progress has been limited this year [14]

Core Viewpoint - The recent rumors regarding the signing of a 50-ton supply contract with Bayer for 2025 by the company are untrue, and its industrial hemp business is still in the early stages of development, contributing less than 0.1% to the total revenue [1] Group 1 - The company clarified that the rumors about a contract with Bayer are not accurate [1] - The industrial hemp business is currently in its initial development phase [1] - Revenue from the industrial hemp segment accounts for less than 0.1% of the company's total revenue [1]

Group 1 - The agricultural processing sector increased by 1.05% on November 10, with Yichang Magic leading the gains [1] - The Shanghai Composite Index closed at 4018.6, up 0.53%, while the Shenzhen Component Index closed at 13427.61, up 0.18% [1] - Key stocks in the agricultural processing sector showed significant price increases, with Yichang Magic rising by 6.97% to a closing price of 38.38 [1] Group 2 - The agricultural processing sector saw a net inflow of 30.35 million yuan from main funds, while retail investors experienced a net outflow of 48.61 million yuan [2] - Major stocks like COFCO Sugar and Jinlongyu attracted significant main fund inflows of 59.89 million yuan and 36.12 million yuan, respectively [3] - Retail investors showed a negative trend in several stocks, with notable outflows from COFCO Sugar and Jinlongyu [3]

Core Viewpoint - The company emphasizes its commitment to shareholder value and market management through steady operations and enhancing intrinsic value [2] Group 1 - The company will disclose the number of shareholders at the end of each month in its regular reports, in accordance with the Shenzhen Stock Exchange's information disclosure requirements [2] - The management team is focused on continuously creating long-term investment value for shareholders [2]