中牧股份（600195）公告，2024年营业收入60.17亿元，同比增长11.30%。归属于上市公司股东的净利 润7088.44万元，同比下降82.41%。向全体股东每10股派发现金红利0.23元，共计派发现金红利2348.64 万元。 ...

Core Insights - The global animal vaccine market is projected to exceed $14 billion in 2024, following a market size of over $13.5 billion in 2023, with a compound annual growth rate (CAGR) of 10.10% over the past five years [1][8]. Market Overview - Animal vaccines, also known as veterinary vaccines, are products made from pathogenic microorganisms that stimulate the immune system of animals to produce specific antibodies, thereby preventing infectious diseases [1]. - North America, including the United States and Canada, is the largest regional market for animal vaccines, accounting for approximately 45% of the global market share in 2023 [3]. Industry Competition - Leading companies in the global animal vaccine industry offer a diverse range of products, including vaccines for pets, pigs, poultry, ruminants, and aquaculture [5]. - Major players such as Merck Animal Health, Zoetis, and Boehringer Ingelheim have established multiple production bases worldwide, indicating significant production capacity [5]. Company Profiles - **Merck Animal Health**: Offers pet vaccines, pig vaccines, poultry vaccines, and aquaculture vaccines, with 29 production bases across 12 countries, including a major facility in Suzhou, China [6]. - **Zoetis**: Operates production bases in the United States and China, having established its first R&D and production base in China in 2019 [6]. - **Boehringer Ingelheim**: Maintains over 20 production bases globally, with two facilities located in Nanchang and Taizhou, China [6]. - **Hualan Biological Engineering**: Initially focused on blood products, it has become a major producer of influenza vaccines in China, accounting for over 40% of the national market [6]. - **Fubao Animal Health**: Produces vaccines for pigs, poultry, and aquaculture, with production bases in the United States and Suzhou, China [6].

Market Overview - The A-share market indices have collectively risen, driven by multiple favorable factors [1] - The "Zhong" stocks, particularly those with "Zhong" in their names, have seen significant gains, with several stocks reaching their daily limit [1] Key Stock Performances - Zhongcang Co. (600787) opened strongly and reached the daily limit within 20 minutes, closing at a 10.07% increase [2] - Zhongfangbiao (873122) surged by 22.24%, while Zhongliang Kegong (301058) increased by 20.04% [2] - Other notable performers include Zhongtie Zhuangpei (300374) with an 11.37% rise, and China Tonghao (688009) with a 10.04% increase [2][3] Sector Analysis - The "Zhong" stocks have shown robust performance, with many stocks in this category experiencing gains of over 5% [1][2] - The retail sector has also attracted significant capital inflow, with net inflows exceeding 1 billion yuan in various segments, including community group buying and unified market [9] - The banking sector has seen a rebound, with several banks, including Pudong Development Bank, rising over 5% [11][12] ETF Activity - The trading volume for broad-based ETFs has continued to increase, with the CSI 300 ETF (510300) exceeding 12.1 billion yuan in trading volume [16] - Other ETFs, such as the CSI 500 ETF (510500), also reported significant trading volumes, indicating strong investor interest [16]

同意中牧实业股份有限公司 2025 年度投资计划。 二、关于调整、更名公司部分组织机构的议案 表决结果：6 票同意，0 票反对，0 票弃权。 股票代码：600195 股票简称：中牧股份 编号：临 2025-004 中牧实业股份有限公司 第九届董事会 2025 年第四次临时会议决议公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或 者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 中牧实业股份有限公司（以下简称"公司"）第九届董事会 2025 年第四次临时 会议通知于 2025 年 3 月 24 日通过公司电子办公系统、电子邮件等形式发出，会议 于 2025 年 3 月 27 日以通讯方式召开，会议应到董事 6 名，实到董事 6 名。会议由 董事长吴冬荀先生主持，符合《公司法》《公司章程》的规定。 会议审议并通过以下事项： 一、中牧实业股份有限公司 2025 年度投资计划 表决结果：6 票同意，0 票反对，0 票弃权。 根据公司战略规划和业务经营管理需要，同意成立国际业务发展部，同意将战 略运营部与投资管理部合并，成立战略投资部，同时相应调整部门职责定位；同意 新业务发展部更 ...

Investment Rating - Industry rating: Outperform the market (maintained rating) [10] Core Insights - The Central Document No. 1 emphasizes "new agricultural productivity" and the need for rural revitalization, highlighting the importance of food security and the promotion of biotechnology and smart agriculture [1][14] - The report identifies key investment opportunities in various sectors, including seeds, low-altitude economy, infrastructure, and animal husbandry [2][3][4][5][6] Seed Sector - The document mentions "food" 15 times, stressing national food security and the need to enhance crop yields through biotechnology [2][14] - The commercialization of genetically modified corn is expected to accelerate, benefiting leading seed companies [2] - Recommended companies include Longping High-Tech, Dabeinong, and Quanyin High-Tech [2] Low-Altitude Economy - The report supports the development of smart agriculture and low-altitude technologies, predicting a trillion-yuan market by 2030 [2][15] - Applications of drones in agriculture are expected to grow, benefiting companies involved in agricultural drone technology [2] Infrastructure - Emphasis on soil protection and quality improvement, with initiatives for high-standard farmland construction and water conservancy projects [2][15] - Quality enterprises in agriculture, fertilizers, and agricultural reclamation are expected to benefit [2] Swine Sector - The average price of live pigs is stable at 14.67 yuan/kg, with a decrease in profitability for self-breeding farms [3][16] - The supply of pigs is expected to remain high, while demand is sluggish post-Spring Festival [3][16] - Recommended companies include Wens Foodstuffs, Muyuan Foods, and New Hope Liuhe [3][17] Poultry Sector - The report highlights the impact of restricted overseas breeding on supply, with a significant drop in domestic breeding stock [4][19] - Chicken prices have rebounded, with recommendations for companies like Shengnong Development and Yisheng Livestock [4][19] Feed Sector - Hai Da Group is recommended due to its improving fundamentals and relative valuation [6][21] - The report notes a potential recovery in the aquaculture feed market after a prolonged downturn [6][21] Animal Health Sector - The report emphasizes new market opportunities in pet health products and the introduction of innovative vaccines [7][22] - Recommended companies include Kexin Biological and Zhongmu Biological [7][22] Pet Sector - Domestic pet brands are growing rapidly, with a notable increase in pet food exports [8][24] - Recommended companies include Guibao Pet, Zhongchong Co., and Petty Co. [8][24]

股票代码：600195 股票简称：中牧股份 编号：临 2025-003 中牧实业股份有限公司 第九届董事会 2025 年第三次临时会议决议公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或 者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 一、关于修订《中牧实业股份有限公司总经理工作细则》部分条款的议案 表决结果：6 票同意，0 票反对，0 票弃权。 本议案已经公司第九届董事会薪酬与考核委员会第一次会议审议通过。 本议案需提交公司股东会审议。 特此公告 中牧实业股份有限公司董事会 中牧实业股份有限公司（以下简称"公司"）第九届董事会 2025 年第三次临时 会议通知于 2025 年 2 月 21 日通过公司电子办公系统、电子邮件等形式发出，会议 于 2025 年 2 月 26 日以通讯方式召开，会议应到董事 6 名，实到董事 6 名。会议由 董事长吴冬荀先生主持，符合《公司法》《公司章程》的规定。 2025 年 2 月 27 日 会议审议并通过以下事项： 同意修订《中牧实业股份有限公司总经理工作细则》部分条款。 二、关于修订原《中牧实业股份有限公司董事、监事、高级管理人员薪 ...

Financial Performance Forecast - The company expects a net profit attributable to shareholders for 2024 to be between 62.51 million and 88.03 million CNY, a decrease of 315.02 million to 340.54 million CNY compared to the previous year, representing a year-on-year decline of 78.16% to 84.49%[3] - The projected net profit excluding non-recurring gains and losses for 2024 is estimated to be between 57.79 million and 83.31 million CNY, down by 195.55 million to 221.07 million CNY from the previous year, reflecting a decrease of 70.12% to 79.28%[3] - In 2023, the total profit was 406.38 million CNY, with a net profit attributable to shareholders of 403.05 million CNY, and a net profit excluding non-recurring gains and losses of 278.86 million CNY[4] Factors Affecting Performance - The decline in performance is attributed to industry overcapacity, reduced profitability in the breeding sector, fluctuating raw material prices, and intensified market competition[5] - The company reported a significant investment income of 143.56 million CNY from the disposal of long-term equity investments in 2023, which will not recur in 2024, contributing to the profit decline[6] Strategic Response - The company is actively responding to multiple pressures by optimizing marketing structures, enhancing marketing efforts, and developing new products and business lines[6] - The company maintains a strong market share and operational stability despite the challenges faced[6] Audit and Investment Caution - The preliminary financial data provided is subject to final audit and may differ from the officially disclosed figures in the 2024 annual report[8] - There are no significant uncertainties affecting the accuracy of this performance forecast[7] - Investors are advised to be cautious regarding investment risks based on the preliminary nature of the forecast data[8]

Core Viewpoint - The company announced a projected net profit for 2024 ranging from 62.51 million to 88.03 million, representing a decrease of 78.16% to 84.49% compared to previous figures [1] Company Summary - The company is facing an industry-wide overcapacity in 2024, leading to a decline in profitability within the aquaculture sector [1] - Raw material prices are expected to fluctuate, and intensified market competition is anticipated to significantly lower production prices [1] - In 2023, the company generated investment income of 144 million from long-term equity investments, but there are no related asset investment activities planned for 2024 [1]

股票代码：600195 股票简称：中牧股份 编号：临 2025-001 中牧实业股份有限公司 第九届董事会 2025 年第一次临时会议决议公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 董事会授权公司总经理与相关银行签署公司总部 2025 年度授信项下的协议 及合同文本。 二、关于聘任公司董事会秘书的议案 表决结果：6 票同意，0 票反对，0 票弃权。 同意聘任焦洁女士（简历附后）为公司董事会秘书，任期自本次董事会审议 通过之日起，至公司第九届董事会届满之日止。 焦洁女士的任职资格已经公司第九届董事会提名委员会第一次会议审议通 过。 特此公告 中牧实业股份有限公司（以下简称"公司"）第九届董事会 2025 年第一次临 时会议通知于 2025 年 1 月 6 日通过公司电子办公系统、邮件等形式发出，会议 于 2025 年 1 月 9 日以通讯方式召开，会议应到董事 6 名，实到董事 6 名。符合 《公司法》《公司章程》的规定。 会议审议并通过以下事项： 一、关于申请 2025 年度银行授信额度的议案 表决结果：6 票同意， ...

股票代码：600195 股票简称：中牧股份 编号：临 2024-060 中牧实业股份有限公司 2024 年第六次临时股东会决议公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 (一) 股东会召开的时间：2024 年 12 月 27 日 (二) 股东会召开的地点：北京市丰台区南四环西路 188 号总部基地 8 区 16 号 楼 8 层公司会议室 (三) 出席会议的普通股股东和恢复表决权的优先股股东及其持有股份情况： 重要内容提示： 本次会议是否有否决议案：无 一、 会议召开和出席情况 | 1、出席会议的股东和代理人人数 | 230 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 519,042,816 | | 3、出席会议的股东所持有表决权股份数占公司有表决权股 | 50.8293 | | 份总数的比例（%） | | (四) 表决方式是否符合《公司法》及《公司章程》的规定，大会主持情况等。 本次会议由公司董事会召集，采用现场投票和网络投票相结合的方式召开。 现场会议由董事长吴冬荀先生主 ...