广东海大集团股份有限公司

Financial Performance Summary - As of December 31, 2024, Wujiaqu Taikun's total assets were 204.93 million yuan, net assets were 140.49 million yuan, with operating income of 624.50 million yuan and net profit of 12.16 million yuan (unaudited) [1] - As of March 31, 2025, Wujiaqu Taikun's total assets increased to 276.53 million yuan, net assets to 146.04 million yuan, with operating income of 138.32 million yuan and net profit of 5.56 million yuan (unaudited) [1] - As of December 31, 2024, Xinjiang Ruili Heng's total assets were 187.65 million yuan, net assets were 118.47 million yuan, with operating income of 610.81 million yuan and net profit of 8.74 million yuan (unaudited) [3] - As of March 31, 2025, Xinjiang Ruili Heng's total assets were 266.12 million yuan, net assets were 125.79 million yuan, with operating income of 154.12 million yuan and net profit of 7.32 million yuan (unaudited) [3] - As of December 31, 2024, Hutu Bih Tian Kang's total assets were 567.91 million yuan, net assets were 183.88 million yuan, with operating income of 83.66 million yuan and net profit of 1.26 million yuan (unaudited) [7] - As of March 31, 2025, Hutu Bih Tian Kang's total assets decreased to 452.41 million yuan, net assets increased to 190.35 million yuan, with operating income of 128.87 million yuan and net profit of 6.46 million yuan (unaudited) [7] - As of December 31, 2024, Vietnam Hai Da Cherry Valley's total assets were 291.98 million yuan, net assets were 241.49 million yuan, with operating income of 281.84 million yuan and net profit of 80.12 million yuan (audited) [10] - As of March 31, 2025, Vietnam Hai Da Cherry Valley's total assets decreased to 273.87 million yuan, net assets increased to 243.41 million yuan, with operating income of 52.04 million yuan and net profit of 8.74 million yuan (unaudited) [10] Related Party Transactions - The company holds a 35% stake in Wujiaqu Taikun, while Xinjiang Taikun Protein Technology Co., Ltd. holds a 65% stake, making Wujiaqu Taikun a related party [2] - The company holds a 35% stake in Xinjiang Ruili Heng, while Taikun Protein holds a 65% stake, making Xinjiang Ruili Heng a related party [4] - The company holds a 35% stake in Hutu Bih Tian Kang, while Huyanghe Tian Kang holds a 65% stake, making Hutu Bih Tian Kang a related party [8] - The company holds a 40% stake in Vietnam Hai Da Cherry Valley, while Cherry Valley Farm Co., Ltd. holds a 60% stake, making it a related party [11] Compliance and Performance Analysis - Wujiaqu Taikun has been operating normally with a good track record of performance and no barriers to compliance [3] - Xinjiang Ruili Heng has also been operating normally with a good track record of performance and no barriers to compliance [5] - Hutu Bih Tian Kang has been operating normally with a good track record of performance and no barriers to compliance [9] - Vietnam Hai Da Cherry Valley has been operating normally with a good track record of performance and no barriers to compliance [12] - Beijing Hai Zhi Bao Pet Co., Ltd. has been operating normally with a good track record of performance and no barriers to compliance [14] Daily Related Transactions - The company and its subsidiaries plan to engage in daily transactions with related parties, with a total transaction amount not exceeding 607.31 million yuan for 2025 [15] - The company expects to purchase raw materials and provide services to Wujiaqu Taikun, Xinjiang Ruili Heng, and Hutu Bih Tian Kang [17][18][19] - The transactions are based on fair market pricing and are expected to enhance the company's core competitiveness and operational efficiency [20] Stock Option Incentive Plan - The company has proposed to cancel stock options for the 2021 and 2024 stock option incentive plans due to failure to meet performance conditions [49][62] - The cancellation involves a total of 9,719,550 stock options for the 2021 plan and 16,191,090 stock options for the 2024 plan [49][62] - The cancellation process has been approved by the board and complies with relevant regulations, ensuring no adverse impact on the company's financial status or operations [53][66]