Core Viewpoint - China Beidahuang (600598) announced a temporary suspension of its shares on the Hong Kong Stock Exchange starting from 1 PM on July 11, 2025, pending the results of a hearing at the Hong Kong High Court on the same day [1] Group 1 - The suspension is due to a court order preventing certain individuals from acting as company directors or taking any actions before the substantive hearing or further court orders [1] - The executive directors of the company are Mr. Ke Xionghan and Mr. Chen Chen, while the non-executive directors include Mr. Li Jin, Ms. He Yongxin, and Mr. Li Dawei [1] - The independent non-executive director is Mr. Chen Zhifeng [1]

Market Overview - The Shanghai Composite Index fell by 0.13% on July 9, with 17 out of the 28 sectors rising, led by Media and Agriculture, Forestry, Animal Husbandry, and Fishery, which increased by 1.35% and 0.65% respectively [2] - The sectors with the largest declines were Non-ferrous Metals and Basic Chemicals, which dropped by 2.26% and 0.85% respectively [2] Capital Flow Analysis - The main capital outflow from the two markets totaled 38.536 billion yuan, with only three sectors experiencing net inflows: Media (1.055 billion yuan), Retail (864 million yuan), and Construction Decoration (40.34 million yuan) [2] - The Electronic sector saw the largest net outflow, amounting to 7.789 billion yuan, followed by Non-ferrous Metals with 5.412 billion yuan [2] Agriculture, Forestry, Animal Husbandry, and Fishery Sector - The Agriculture, Forestry, Animal Husbandry, and Fishery sector rose by 0.65% despite a net capital outflow of 437 million yuan [3] - Out of 103 stocks in this sector, 40 stocks increased, with one hitting the daily limit, while 55 stocks declined [3] - The top three stocks with net inflows were Xinwufeng (31.4665 million yuan), Haida Group (28.3706 million yuan), and Juxing Agriculture (21.9941 million yuan) [3][4] Top Gainers and Losers in Agriculture, Forestry, Animal Husbandry, and Fishery - **Top Gainers**: - Xinwufeng: +0.65%, 4.20% turnover, 31.4665 million yuan inflow [4] - Juxing Agriculture: +0.76%, 4.49% turnover, 21.9941 million yuan inflow [4] - **Top Losers**: - Muyuan Foods: -3.27%, 1.81% turnover, 71.5922 million yuan outflow [5] - Guolian Aquatic Products: -1.76%, 8.74% turnover, 45.2607 million yuan outflow [5]

Investment Rating - The industry investment rating is maintained as "Increase" for the agricultural sector [6] Core Viewpoints - The agricultural sector outperformed the market by 1.01 percentage points during the week of June 30 to July 4, 2025, with a weekly increase of 2.55% [15][17] - The pig farming sector is highlighted as a key investment opportunity due to the recovery of breeding profits and the ongoing rise in pig prices [4][2] - The report emphasizes the importance of cost control for listed pig farming companies to navigate the pig cycle effectively [4] Summary by Sections Market Review - The agricultural sector index closed at 2,729.26, ranking 7th among 31 first-level industries in terms of weekly performance [15][17] - The fishery sector showed the best performance with a 5.13% increase, followed by breeding, agricultural product processing, feed, and planting sectors with respective increases of 3.12%, 2.96%, 2.30%, and 1.63% [17][19] Industry Dynamics - Pig prices continued to rise, with the national average price reaching 15.35 yuan/kg, a week-on-week increase of 4.28% [2] - Self-breeding profits increased to 119.72 yuan/head, while external piglet breeding profits improved to -26.26 yuan/head [2] - In the poultry sector, chicken prices remained under pressure due to high inventory levels, with broiler chick prices dropping to 1.36 yuan/chick, a 20% decrease week-on-week [2] Agricultural Products - Prices for wheat, corn, and soybean meal showed a week-on-week increase, with wheat averaging 2,451.06 yuan/ton (up 0.19%), corn at 2,367.14 yuan/ton (up 0.61%), and soybean meal at 2,928.00 yuan/ton (up 0.76%) [3][34] Investment Recommendations - The report suggests focusing on the pig farming sector, particularly companies with strong cost control such as Muyuan Foods, Wens Foodstuff Group, and others [4] - In the poultry sector, it recommends looking at integrated industry leaders like Shennong Development and Lihua Stock for yellow feathered chickens [4] - For feed, it highlights industry leaders like Haida Group and regional leaders like Hefeng Stock as beneficiaries of the recovery in livestock demand [4] - The report also emphasizes the importance of food security, recommending companies like Suqian Agricultural Development and Beidahuang [4]

Core Viewpoint - The articles reflect on the nostalgic memories and experiences of life in the Beidahuang region, emphasizing the connection to nature, community, and the passage of time through poetry and personal anecdotes [1][2][3][4]. Group 1: Life in Beidahuang - The imagery of welcoming dogs and the beauty of the natural landscape evoke a strong sense of belonging and nostalgia for the Beidahuang region [1]. - The challenges of working in the fields during rainy weather highlight the physical demands and the connection to the land, with references to the scent of black soil [2]. - Winter scenes depict the warmth of communal living and the sustenance derived from local produce, illustrating the harsh yet fulfilling lifestyle in Beidahuang [3]. Group 2: Emotional Reflections - The longing for home and the emotional weight of memories are expressed through the imagery of autumn and the passage of time, capturing the bittersweet nature of nostalgia [3]. - The act of writing letters and reading as a means of solace reflects the deep emotional ties to friendships and the search for comfort during challenging times [3]. - The reminiscence of returning to Beidahuang after many years emphasizes the enduring bonds formed with the local community and the warmth of shared experiences [4].

Core Viewpoint - North China Grain Group has effectively utilized party leadership to enhance agricultural production, achieving significant results and demonstrating its value as a crucial national grain base [1][2]. Group 1: Strategic Goals and Brand Development - North China Grain Group aims to build a modern agricultural base, enterprise, and industry, positioning itself as an international grain merchant [2]. - The company has launched the "North Country Baquan 47 Degrees" brand, supported by a production capacity of 60 billion jin of grain and a large-scale food industry [2][3]. - The brand encompasses various sub-brands, enhancing market competitiveness through a matrix operation model [3]. Group 2: Integration of Party Building and Business Operations - The company has implemented a "chain-based party building" model, integrating party work with production and business operations to support high-quality development [3]. - North China Grain Group has strengthened grassroots organizations and promoted collaborative development across industry, supply, and innovation chains [3]. Group 3: Custom Agriculture and Market Expansion - The company has ventured into custom agriculture, transitioning from merely producing to effectively marketing its products, thereby increasing brand value and profitability [4]. - North China Grain Group has established a 20,000-acre high-end brand rice custom base and a 250,000-acre quality rice planting base [5]. Group 4: Social Responsibility and Community Support - The company actively supports rural revitalization by leveraging its resources and fulfilling social responsibilities [6]. - Initiatives such as the establishment of a women's handicraft production company have provided employment and entrepreneurial opportunities for local women [6][7]. - The women's entrepreneurship project has become a distinctive aspect of the company's party building efforts, contributing to community development and social responsibility [7].

Investment Rating - The industry investment rating is maintained as "Add" [6] Core Views - The agricultural sector underperformed the market by 1.15 percentage points during the week of June 23-27, 2025, with the Shenwan Agricultural Index closing at 2,661.46, reflecting a weekly increase of 0.80% [1][16] - The pig farming sector shows a bullish sentiment with pig prices continuing to rebound, reaching an average price of 14.72 CNY/kg, a week-on-week increase of 3.52% [2] - The poultry sector is facing downward pressure, with broiler prices remaining low due to high inventory levels in the downstream slaughtering sector [2] - Grain prices such as wheat and corn have seen slight increases, while soybean meal prices have decreased due to increased supply from oil mills [3] Summary by Sections 1. Market Review - The agricultural sector's weekly performance ranked 25th among 31 Shenwan first-level industries, with the fishery sector performing the best with a 4.90% increase [1][18] - The animal health, agricultural product processing, planting, and breeding sectors also saw increases of 3.13%, 2.10%, 1.44%, and 0.28% respectively, while the feed sector declined by 0.32% [1][18] 2. Industry Key Data 2.1 Pig Farming - The average profit for self-bred pigs is 50.25 CNY/head, up 30.84 CNY/head week-on-week, while the profit for purchased piglets is -131.71 CNY/head, an increase of 55.08 CNY/head week-on-week [2][24] 2.2 Poultry - The average price of broiler chicks is 1.70 CNY/chick, down 8.60% week-on-week, and the average price of white feather broilers is 7.01 CNY/kg, down 1.54% week-on-week [2][32] 2.3 Agricultural Products - The average price of wheat is 2,446.39 CNY/ton, up 0.19% week-on-week, and corn is 2,352.86 CNY/ton, up 0.43% week-on-week. Soybean meal prices have decreased to a range of 2,900-3,100 CNY/ton [3][35] 3. Investment Recommendations - The report suggests focusing on investment opportunities in the planting industry chain due to increasing geopolitical tensions affecting food security [4] - For pig farming, companies with strong cost control or clear cost reduction paths are recommended, including Muyuan Foods, Wens Foodstuff Group, and others [4] - In the poultry sector, attention is drawn to integrated industry leaders like Shengnong Development and Lihua Stock for their stable capacity expansion and cost advantages [4] - The feed sector is expected to benefit from the recovery of livestock inventory, with recommendations for industry leaders like Haida Group and Hefeng Stock [4] - For agricultural products, companies like Suqian Agricultural Development and Beidahuang are highlighted for their relevance to food security [4]

Core Viewpoint - The "Black Soil Quality Products - Towards the Future in Hangzhou" event aims to promote high-quality agricultural products from Heilongjiang Province to consumers in the Yangtze River Delta region, emphasizing cultural exchange and culinary experiences [1][6]. Group 1: Event Overview - The event took place from June 29 to July 1, organized by Heilongjiang Provincial Agricultural and Rural Affairs Department and other local entities, featuring various culinary experiences and product showcases [1][6]. - It included performances, brand promotions, signing ceremonies, and product displays from various regions, highlighting the unique flavors and cultural significance of Heilongjiang's agricultural products [5][6]. Group 2: Product and Brand Promotion - Heilongjiang's "Black Soil Quality Products" brand is a provincial agricultural public brand, established through a collaborative effort of 19 units since 2022, focusing on quality enhancement and marketing strategies [3][4]. - The brand encompasses a wide range of products, including rice, soybeans, fresh corn, and high-end meats, aiming to resonate with the growing demand for green and organic products in the Yangtze River Delta [3][4]. Group 3: Market Strategy - The event aims to create a "direct supply + channel integration" distribution system, collaborating with local agricultural associations and supply chain companies to enhance market reach [4]. - The Yangtze River Delta, with a population exceeding 230 million and high disposable income, presents a significant market opportunity for "Black Soil Quality Products," aligning with consumer preferences for quality and ecological value [4][5]. Group 4: Consumer Engagement - The event features immersive experiences for consumers, including tasting sessions and cultural displays, to foster brand recognition and appreciation for Heilongjiang's agricultural heritage [5][6]. - E-commerce initiatives are also part of the strategy, with plans to connect with major platforms like Alibaba to enhance online visibility and sales [5].

黑龙江分所 RETHE ST EIJING YUECHENG LAW FIRM 受黑龙江北大荒农业股份有限公司(以下简称"公司")聘请,北 京岳成(黑龙江)律师事务所指派律师出席了公司 2025 年第一次临时 股东大会,并依据《中华人民共和国公司法》(以下简称"《公司法》") 《上市公司股东会规则》(以下简称"《股东会规则》")《上海证券 交易所上市公司自律监管指引第1号 -- 规范运作》及《黑龙江北大荒 农业股份有限公司章程》(以下简称"《公司章程》")的规定,出具 本法律意见书。 为出具本法律意见书,本所及本所律师依据《中华人民共和国证券 法》《律师事务所从事证券法律业务管理办法》和《律师事务所证券法 律业务执业规则(试行)》等规定及本法律意见书出具目以前已经发生或 者存在的事实,严格履行了法定职责,遵循了勤勉尽责和诚实信用原则, 对本次股东大会所涉及的相关事项进行了充分的核查验证,核查了本所 认为出具本法律意见书所需的相关文件、资料,并参与了公司本次股东 大会的全过程。本所保证本法律意见所认定的事实真实、准确、完整, 北京 · 上海 · 广州 · 深圳 · 杭州 · 南京 · 西安 · 成都 · 重庆 ...

黑龙江北大荒农业股份有限公司 2025年第一次临时股东大会决议公告 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。 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 证券代码：600598 证券简称：北大荒 公告编号：2025-026 (一)股东大会召开的时间：2025 年 6 月 24 日 (二)股东大会召开的地点：哈尔滨市南岗区汉水路 263 号本公司 3 楼会议室 (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： | 1、出席会议的股东和代理人人数 | 687 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 1,189,891,177 | | 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 | 66.9350 | | 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。 会议由公司董事长马忠峙先生主持，本次会议采取现场投票与网络投票相结 合的方式进行表决，会议召开及表决的方式符合《公司法》及 ...

Group 1: Pet Economy - The pet economy continues to show high growth, with over 400 pet brands achieving sales growth of over 100% year-on-year during the "618" shopping festival [1] - The number of pet transaction users increased by 32% year-on-year, while new pet owners grew by 39% [1] - Top brands in various pet food categories include Royal Canin and Maffidi for cat and dog dry food, and Maffidi and Zeal for cat and dog snacks/wet food [1] Group 2: Pig Prices - The average price of external three yuan pigs rose to 14.22 yuan/kg, a week-on-week increase of 1.43% [2] - The average price of piglets decreased to 31.85 yuan/kg, down 3.16% week-on-week [2] - The average weight of market pigs decreased slightly to 128.28 kg, while the inventory rate of frozen products increased to 14.04% [2] Group 3: Grain Prices - Prices for corn, soybean meal, and wheat have increased, with corn averaging 2417.06 yuan/ton (up 0.47%), soybean meal at 3015.14 yuan/ton (up 1.59%), and wheat at 2441.67 yuan/ton (up 0.46%) [3] - Weather conditions and trade dynamics are influencing corn prices, while soybean meal prices are affected by supply concerns from the U.S. and geopolitical tensions [3] Group 4: Investment Recommendations - The pig farming sector is expected to enter a long-term profit growth phase after inventory reduction, with recommended companies including Juxing Agriculture, Shennong Group, and Muyuan Foods [4] - The post-cycle sector is seeing a recovery in feed and veterinary demand, with companies like Haida Group and Ruipu Biotech recommended [4] - The planting chain is showing positive fundamentals with rising grain prices, suggesting investment opportunities in companies like Suqian Agricultural Development and Beidahuang [4] - The pet food industry is in a growth phase, with increasing recognition of domestic brands and recommended companies including Guibao Pet and Zhongchong Co. [4]