四川德康農牧食品集團股份有限公司（「本公司」）董事會（「董事會」）謹此宣佈，本公 司將於二零二六年三月二十日（星期五）舉行董事會會議，藉以（其中包括）考慮及批 准本公司及其附屬公司截至二零二五年十二月三十一日止年度的業績及其刊發，並 考慮建議派發末期股息（如有）。 承董事會命 四川德康農牧食品集團股份有限公司 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示，概不就因本公告全部或任何 部份內容而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 DEKON FOOD AND AGRICULTURE GROUP 四川德康農牧食品集團股份有限公司 （於中華人民共和國註冊成立的股份有限公司） （股份代碼：2419） 董事會會議召開日期 於本公告日期，本公司執行董事為王德根先生、王德輝先生、姚海龍先生、胡偉先 生及曾民先生；本公司非執行董事為劉珊女士；及本公司獨立非執行董事為陳育棠 先生、潘鷹先生及朱慶先生。 董事長兼執行董事 王德根 香港，二零二六年三月十日 ...

本公告乃四川德康農牧食品集團股份有限公司（「本公司」，連同其附屬公司，「本集 團」）作出的自願公告。 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部 分內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 DEKON FOOD AND AGRICULTURE GROUP 四川德康農牧食品集團股份有限公司 （於中華人民共和國註冊成立的股份有限公司） （股份代碼：2419） 自願公告 2026年2月運營快報 本公司董事會（「董事會」）謹此宣佈，本集團2026年2月的主要運營數據（未經審核） 如下： 生豬板塊 | | | | | | 商品肉豬 | | --- | --- | --- | --- | --- | --- | | | 商品肉豬銷量 | | 商品肉豬銷售收入 | | 平均售價 | | | | | | | （人民幣元 | | | （千頭） | | （人民幣百萬元） | | ╱公斤） | | | 本期間數量 | 本年累計數量 | 本期間金額 | 本年累計金額 | | | 2026年1月 | 968.89 | ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2026年2月28日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 四川德康農牧食品集團股份有限公司 (於中華人民共和國註冊成立的股份有限公司) 呈交日期: 2026年3月2日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | H | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 02419 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 157,588,454 | RMB | | 1 | RMB | | 157,588,454 | | 增加 / 減少 (-) | | | | | | | RMB | | | | 本月底結存 | | | 157,588,454 | RMB | | 1 | RMB | | 157,58 ...

Core Viewpoint - The pig prices have shown a recovery since the end of December 2025, but have started to decline again in February 2026, indicating a serious oversupply situation in the market [1][2]. Industry Supply and Demand Performance - In January 2026, the average prices for piglets, live pigs, and pork were 25.38 yuan/kg, 13.18 yuan/kg, and 23.40 yuan/kg, respectively, with month-on-month changes of 8.44%, 7.50%, and 3.39% [2]. - The supply side saw a normal pace of slaughter from large-scale farms in January, while small and medium-sized farmers slowed down, which supported the prices [2]. - Demand was boosted by pre-holiday stocking for the Spring Festival, but the slaughtering sector faced significant profit pressure, limiting operational rates and price increases [2]. Capacity Change Trends - As of the end of December 2025, the number of breeding sows was 39.61 million, a decrease of 1.10% from the end of October [3][4]. - The recent improvement in profitability during the peak season has slowed the pace of capacity reduction, but the downward trend in capacity has already begun [3]. Policy Regulation and Price Trends - The central government's policy for 2026 emphasizes comprehensive regulation of pig production capacity, with a trend towards more refined policy measures [4]. - As of February 13, 2026, the average loss per self-bred pig was 98.32 yuan, indicating a return to losses for self-bred operations [4]. Company Recommendations - Companies with leading cost structures and high performance realization rates, such as Muyuan Foods (002714.SZ), are recommended for attention, along with other beneficiaries like Wens Foodstuff Group (300498.SZ), Dekang Agriculture (02419), Tiankang Biological (002100.SZ), and Shennong Group (605296.SH) [5]. January Sales Data of Listed Companies - In January, Muyuan Foods, Wens Foodstuff Group, Zhengbang Technology, and New Hope achieved average sales prices of 12.57, 12.75, 12.45, and 12.48 yuan/kg, respectively, with month-on-month increases of 10.17%, 9.91%, 6.41%, and 10.64% [6]. - The sales volume for January showed a decline for several companies, with Muyuan Foods selling 701,000 pigs, a slight increase, while Wens Foodstuff Group, New Hope, and Zhengbang Technology saw declines of 35.05%, 37.98%, and 9.83%, respectively [6]. - The average weight of pigs at slaughter varied, with some companies reporting increases while others reported decreases [6].

Core Viewpoint - Dekang Agriculture and Animal Husbandry has successfully explored a path for industry revitalization in the pig farming sector, focusing on linking farmers, empowering them, and enhancing agricultural productivity through a robust breeding system and innovative farming models [1][2]. Group 1: Breeding Strategy - Dekang prioritizes breeding strategy, having developed a high-barrier independent breeding system and genetic resource bank over nearly two decades, ensuring a sustainable supply of quality breeding stock [1]. - By the end of 2024, the core breeding stock is expected to reach 14,900 heads, with purebred stock at 147,300 heads, supported by two national core breeding farms [1]. - The integration of big data and biotechnology has strengthened the company's cost advantages and competitive barriers across the entire agricultural supply chain [1]. Group 2: Two Farm Model - The Two Farm model has established Dekang as a benchmark for linking farmers, with three main advantages: restructuring production relationships, comprehensive management support for farmers, and fostering closer cooperation between enterprises and farmers [2]. - By 2025, it is anticipated that the output from the Two Farm model will account for over 20% of total production, significantly enhancing the efficiency of family farms [2]. - The model has successfully transitioned to a light-asset approach, overcoming initial challenges such as training difficulties and investment concerns [2]. Group 3: "Hundred Villages, Million" Project - The "Hundred Villages, Million" project serves as a template for county-level development, enhancing rural revitalization and increasing farmers' incomes [2]. - This initiative integrates government, enterprises, banks, insurance, and farmers, transforming them from simple laborers into modern farm managers with improved farming efficiency [2]. - The project aligns with national strategies, promoting rural revitalization, common prosperity, and seed industry revitalization, ultimately leading to increased farmer income and stability in the agricultural sector [2].

Investment Rating - The investment rating for the company is "Buy" and is maintained [13]. Core Insights - The report highlights that the company, Dekang Agriculture, has explored a path of industrial revitalization in the pig farming industry, achieving a model that effectively links farmers and enhances their wealth. The company has established a high-barrier breeding system and restructured production relationships to maximize the potential of farmers [3][18]. - The "Hundred Villages, Million" project has accelerated the implementation of the second farm model, empowering rural revitalization and achieving strong agricultural growth. Dekang's approach transforms industry challenges into a robust competitive advantage, resulting in a pig farming system characterized by low investment, high turnover, and high returns [3][18]. Summary by Sections Breeding Strategy - Dekang has prioritized breeding strategies, successfully building a high-barrier breeding system and genetic resource bank over nearly two decades. The company has established a leading scale and independent technology in breeding, with a core breeding herd of 14,900 heads and purebred pig scale of 147,300 heads by the end of 2024 [9][21][24]. - The company has initiated a comprehensive genomic breeding program since 2019, achieving 100% coverage of its breeding lines and establishing extensive databases for breeding performance [9][21]. Second Farm Model - The second farm model has positioned Dekang as a benchmark in the industry, with advantages such as restructuring production relationships, comprehensive management support for farmers, and fostering closer cooperation between farming enterprises and farmers [10][56]. - By 2025, it is expected that the second farm model will account for over 20% of the company's output, enhancing the efficiency of family farms and significantly improving farmers' management capabilities [10][56]. "Hundred Villages, Million" Project - The "Hundred Villages, Million" project serves as a template for county-level deep cultivation, enhancing rural revitalization and increasing farmers' income. This model integrates government, enterprises, banks, insurance, and farmers, transforming them into modern farm owners with improved management skills [11][18]. - The project aligns with national strategies and policies, contributing to rural revitalization and common prosperity through increased farmer income and stable relationships within the agricultural supply chain [11][18].

Group 1 - The company, Dekang Agriculture (02419.HK), announced a share buyback on February 16, spending HKD 417,000 to repurchase 5,800 shares [1]

Group 1 - The company, Dekang Agriculture and Animal Husbandry (02419), announced a share buyback on February 16, 2026, spending HKD 416,700 to repurchase 5,800 shares [1] - The buyback price ranged from HKD 71.65 to HKD 72.05 per share [1]

Group 1 - The company, Decon Agricultural and Animal Husbandry (02419), announced a share buyback on February 16, 2026, for a total expenditure of HKD 416,700 [1] - The company repurchased 5,800 shares at a price range of HKD 71.65 to HKD 72.05 per share [1]

FF305 翌日披露報表 (股份發行人 ── 已發行股份或庫存股份變動、股份購回及/或在場内出售庫存股份) 表格類別： 股票 狀態： 新提交 公司名稱： 四川德康農牧食品集團股份有限公司 呈交日期： 2026年2月16日 如上市發行人的已發行股份或庫存股份出現變動而須根據《香港聯合交易所有限公司（「香港聯交所」）證券上市規則》(「《主板上市規則》」)第13.25A條 / 《香港聯合交易所有限公司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 | 第一章節 | | | | | | | | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | 普通股 | 股份類別 H | | 於香港聯交所上市 | 是 | | | 證券代號 (如上市) | 02419 | 說明 | | | | | | A. 已發行股份或庫存股份變動 | | | | | | | | | | 已發行股份（不包括庫存股份）變動 | | 庫存股份變動 | 每股發行/出售價 (註4) | 已發行股份總數 | | | 事件 | 已發行股份（不包括庫存股份）數 ...