穿梭于各农场有限公司之间，公路两侧要么是望不到边的平整旱田，要么是方正的水稻格田。在这里， 田间地头建有小型气象站，配有智能化的虫情测报灯和孢子捕捉仪；育秧大棚安装监测系统，插秧机用 上北斗导航，无人机喷洒底肥……这些早已是北大荒农业生产的标配。 ● 本报记者 宋维东 "棒打狍子瓢舀鱼，野鸡飞到饭锅里。"——这句民谚生动地诠释了北大荒优美的环境和丰富的物产。中 国证券报记者上一次来北大荒采访春耕还是在2023年。时隔两年，记者再次来到北大荒，想看看这里又 有哪些新变化。 几天调研走访下来，记者很明显的感受就是种地变得越来越精细，越来越有看头。特别是科技的进步解 放了更多人力，更带来了巨大效益。 如今，种地已从"会种田"向"慧种田"转变，从靠经验种地向靠数据种地转变。精准、高效正成为农业生 产的发展方向。当下的北大荒，先进科技早已贯穿粮食从种到收全过程，每一步操作的背后都有数据支 撑，每一斤粮食的增收都有科技助力。这就是"藏粮于地、藏粮于技"战略的落地实践，更是科技兴农的 具象化呈现。 调研期间，记者在江滨农场有限公司多功能展厅看到了63米长版画《江滨颂》。一幅幅版画记录了北大 荒的历史，也让北大荒人深刻认识到 ...

Core Viewpoint - North China Grain Group, known as "the model for farming," is leveraging advanced technology and efficient operational models to enhance agricultural productivity and ensure high-quality spring sowing, setting the stage for expected record harvests in the fall [1]. Group 1: Spring Sowing Innovations - The spring sowing season has commenced, with North China Grain Group focusing on maximizing efficiency despite lower temperatures affecting rice transplanting schedules [2]. - The company is increasingly utilizing surface water for irrigation, which not only conserves groundwater but also improves crop yield, with reported increases in rice production from 1,220 pounds to over 1,270 pounds per acre [2][3]. - The implementation of advanced seedling raising equipment allows for significant land savings and reduced seedling growth time, enhancing overall agricultural efficiency [3]. Group 2: Technological Advancements in Farming - The use of automated seedling transplanting machines equipped with satellite navigation systems ensures precision and quality in planting, with capabilities for autonomous operation [4]. - North China Grain Group is adopting innovative practices such as early seedling cultivation in greenhouses to promote faster growth and higher yields for corn crops [4][5]. - The company is also focusing on soil health through the application of biological nitrogen-fixing techniques, which reduce reliance on chemical fertilizers and improve soil structure [5][6]. Group 3: Grain Storage and Trade - The establishment of a large grain storage center with advanced monitoring systems ensures the safe storage of significant quantities of corn and rice, facilitating timely sales for farmers at competitive prices [6][7]. - The company actively engages in grain trade, ensuring quality control and establishing stable relationships with major downstream enterprises to maximize trading benefits [7].

Core Viewpoint - The company has announced a cash dividend of 0.55 yuan per share, which will be distributed to shareholders based on the total share capital of 1,777,679,909 shares, amounting to a total cash dividend of approximately 977.72 million yuan [2][3][4]. Dividend Distribution Details - The cash dividend distribution was approved at the annual general meeting held on April 22, 2025 [2]. - The key dates for the dividend distribution are as follows: - Record date: May 22, 2025 - Last trading day: May 23, 2025 - Ex-dividend date: May 23, 2025 [2]. Taxation Information - For individual shareholders, dividends are subject to different tax treatments based on the holding period: - Holding period over 1 year: exempt from individual income tax - Holding period within 1 month: full amount included in taxable income - Holding period between 1 month and 1 year: 50% included in taxable income [3]. - For qualified foreign institutional investors (QFII), a 10% withholding tax applies, resulting in a net dividend of 0.495 yuan per share [4]. - For investors trading through the Hong Kong Stock Exchange, a similar 10% withholding tax applies, also resulting in a net dividend of 0.495 yuan per share [4]. Contact Information - For inquiries regarding the dividend distribution, shareholders can contact the company's board office at 0451-55195980 [6].

证券代码：600598 证券简称：北大荒 公告编号：2025-019 黑龙江北大荒农业股份有限公司2024年年度权益分派实施公告 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： 每股分配比例 A 股每股现金红利0.55元 相关日期 | 股份类别 | 股权登记日 | 最后交易日 | 除权（息）日 | 现金红利发放日 | | --- | --- | --- | --- | --- | | Ａ股 | 2025/5/22 | － | 2025/5/23 | 2025/5/23 | 差异化分红送转： 否 3. 分配方案： 本次利润分配以方案实施前的公司总股本1,777,679,909股为基数，每股派发现金红利 0.55元（含税），共计派发现金红利977,723,949.95元。 1 三、 相关日期 股份类别 股权登记日 最后交易日 除权（息）日 现金红利发放日 1. 发放年度：2024年年度 2. 分派对象： | | | 一、 通过分配方案的股东大会届次和日期 本次利润分配方案经公司2025 年 4 月 22 日的202 ...

Core Viewpoint - Heilongjiang Beidahuang Agricultural Co., Ltd. has experienced a decline in stock price over four consecutive trading days, with a cumulative drop of -3.72% [1] Group 1: Company Overview - Heilongjiang Beidahuang Agricultural Co., Ltd. was established by Beidahuang Agricultural Reclamation Group Co., Ltd. as the sole initiator [1] - The company is a significant player in the agricultural sector in China, particularly in Heilongjiang province [1] Group 2: Fund Performance - The Huatai-PineBridge CSI Major Consumer ETF, managed by Guo Beibei, increased its holdings in Beidahuang and reported a year-to-date return of 0.76%, ranking 1713 out of 3383 in its category [1][2] - The fund's performance over various periods shows a weekly increase of 0.50%, a monthly decrease of -1.11%, and a quarterly increase of 4.56% [2] Group 3: Fund Manager Profile - Guo Beibei, the fund manager of Huatai-PineBridge CSI Major Consumer ETF, holds a Ph.D. in Financial Engineering from the University of Science and Technology of China and has extensive experience in fund management since joining Huatai-PineBridge in 2015 [3][4] - Guo has managed multiple funds across various sectors, demonstrating a strong track record in the investment management field [3][4]

Investment Rating - The report initiates coverage of the agriculture sector with an "Overweight" rating, indicating a favorable outlook for the industry due to stable demand and strong policy support [3][5]. Core Views - The agriculture sector is seen as a defensive investment option amidst a complex external environment, with many meat protein and agricultural product prices currently in a recovery phase, suggesting potential for stable growth in leading companies [3]. - The report highlights that low costs are a core competitive advantage for listed pig farming companies, recommending a focus on firms with strong cost control or clear cost reduction paths [3]. - The report suggests monitoring specific companies across various segments, including pig farming, poultry, feed, and agricultural products, indicating a diversified investment approach [3]. Summary by Sections Market Review - The agriculture sector underperformed the market by 1.02 percentage points during the week of May 6-9, 2025, with the index closing at 2,619.30, reflecting a 0.99% increase [14]. - Among sub-sectors, the fishery sector performed best with a 3.87% increase, while the breeding sector saw a slight decline of 0.19% [16][18]. Key Industry Data Pig Farming - As of May 9, 2025, the average price of live pigs was 14.82 CNY/kg, down 0.13% from April 30, 2025, and down 0.74% year-on-year [1]. - The profit from self-breeding was 84.33 CNY per head, while the profit from purchasing piglets increased by 9.92 CNY to 58.46 CNY per head [1]. Poultry - As of May 9, 2025, the average price of broiler chicks was 2.91 CNY per chick, up 0.34% week-on-week, while the price of white feather broilers was 7.45 CNY/kg, down 0.40% [2]. Agricultural Products - As of May 9, 2025, the average prices for key crops were as follows: wheat at 2,460.67 CNY/ton (up 0.19%), japonica rice at 2,864.00 CNY/ton (up 0.21%), corn at 2,292.86 CNY/ton (up 1.78%), and soybean meal at 3,300.00 CNY/ton (down 5.08%) [2]. Company Announcements - Muyuan Foods reported selling 6.573 million pigs in April 2025, a year-on-year increase of 51.80%, with an average selling price of 14.66 CNY/kg [35][36]. - Shennong Development achieved a sales revenue of 1.533 billion CNY in April 2025, a year-on-year increase of 0.68% [37].

Core Viewpoint - The CSI Modern Agriculture Theme Index has shown a mixed performance, with a recent decline despite a year-to-date increase, indicating volatility in the agricultural sector [1][2]. Group 1: Index Performance - The CSI Modern Agriculture Theme Index (CS Modern Agriculture, 930662) fell by 0.4% to 997.35 points, with a trading volume of 7.519 billion [1]. - Over the past month, the index has decreased by 5.59%, while it has increased by 5.31% over the last three months and by 1.82% year-to-date [1]. Group 2: Index Composition - The index comprises 30 listed companies involved in various agricultural sectors, including agricultural products, seed industry, feed, animal health and breeding, livestock products, fishery products, and agricultural machinery [1]. - The top ten holdings in the index are: Muyuan Foods (14.98%), Wens Foodstuff Group (14.78%), Haida Group (12.99%), New Hope Liuhe (6.27%), Meihua Holdings (6.23%), Dabeinong Technology Group (4.08%), Longping High-Tech (3.1%), Beidahuang (3.08%), Shennong Development (2.79%), and Hainan Rubber (2.29%) [1]. Group 3: Market Segmentation - The index's holdings are primarily listed on the Shenzhen Stock Exchange (74.03%) and the Shanghai Stock Exchange (25.97%) [1]. - In terms of industry composition, livestock products account for 39.61%, feed for 37.86%, agricultural products for 8.40%, seed industry for 7.29%, animal health and breeding for 5.99%, and agricultural machinery for 0.84% [2]. Group 4: Index Adjustment Mechanism - The index samples are adjusted semi-annually, with adjustments occurring on the next trading day after the second Friday of June and December [2]. - Weight factors are generally fixed until the next scheduled adjustment, with special circumstances allowing for temporary adjustments [2].

Investment Rating - The overall industry investment rating is "Positive" for planting, livestock, and agricultural product processing sectors, while "Neutral" for forestry and fishery sectors [2]. Core Views - Recent grain price increases indicate a potential bottoming out of the planting industry chain, while livestock prices remain low with potential for high-level capacity adjustments. The importance of domestic agricultural supply is highlighted by tariff countermeasures, suggesting a favorable policy environment for industry development [20][23]. Summary by Sections 1. Livestock Industry Chain - **Pork**: Production capacity growth has stagnated, with the sector's valuation at a historical low, indicating long-term investment opportunities. The average price of pork is 14.82 CNY/kg, down 0.02 CNY from last week. The demand is expected to weaken in the short term, leading to a potential weak fluctuation in pork prices [5][20]. - **Poultry**: Chicken prices are fluctuating, with the average price for white feather broilers at 3.75 CNY/jin, up 0.02 CNY from last week. The industry faces high production levels, but potential price increases may occur due to reduced imports from the U.S. following tariff impositions [9][21]. - **Yellow Chicken**: Prices are expected to rise as supply tightens and consumption recovers, with prices for yellow chicken at 11.2 CNY/kg, up 0.51 CNY from last month [10][23]. - **Animal Health**: The industry shows signs of recovery, with improved performance in Q1. The introduction of domestic vaccines is expected to drive growth in the sector [11][23]. 2. Planting Industry Chain - **Seed Industry**: The focus on food security is leading to improved policies for the seed industry, with expectations for transgenic technology to accelerate. The performance of leading companies is expected to improve as valuations are currently low [12][24]. - **Grain Prices**: Recent increases in grain prices, with corn at 2327 CNY/ton (up 30 CNY) and wheat at 2462 CNY/ton (up 10 CNY), suggest investment opportunities in the sector. The decline in grain imports in Q1 indicates a tightening supply [13][24]. 3. Recommended Companies and Ratings - **Companies with Buy Ratings**: Zhongchong Co., Muyuan Foods, and Suqian Agricultural Development are highlighted as recommended investments [3][52].

Group 1 - The grain concept sector declined by 0.60%, ranking among the top declines in the concept sector, with notable declines in stocks such as Kemin Foods, Shennong Seed Industry, and Quanyin High-Tech [1] - Among the grain concept stocks, 11 stocks experienced price increases, with *ST Huifeng, *ST Wanfang, and ST Yalian leading the gains at 2.80%, 2.73%, and 2.45% respectively [1] Group 2 - The grain concept sector saw a net outflow of 555 million yuan from main funds today, with 33 stocks experiencing net outflows, and 7 stocks seeing outflows exceeding 30 million yuan [2] - The stock with the highest net outflow was Dabeinong, with a net outflow of 55.14 million yuan, followed by Jinhai Biological, Beidahuang, and Lianhua Holdings with net outflows of 44.98 million yuan, 41.51 million yuan, and 37.18 million yuan respectively [2] - The stocks with the highest net inflows included ST Yalian, Tianhong Shares, and Luoping Zinc Electric, with net inflows of 0.66 million yuan, 0.48 million yuan, and 0.45 million yuan respectively [2]

本次活动将采用网络远程的方式举行，投资者可登录"全景路演"网站 （http://rs.p5w.net）；或关注微信公众号（名称：全景财经）；或下载全景 路演 APP,参与本次互动交流。活动时间为 2025 年 5 月 14 日（周三）14:00-16:30。 届时公司高管将在线就公司 2024 年度业绩、公司治理、发展战略、经营状况、 融资计划、股权激励和可持续发展等投资者关心的问题，与投资者进行沟通与交 流，欢迎广大投资者踊跃参与！ 证券代码：600598 证券简称：北大荒 公告编号：2025-018 黑龙江北大荒农业股份有限公司 关于参加黑龙江辖区上市公司 2025 年投资者 网上集体接待日活动的公告 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个别及连带责任。 为进一步加强与投资者的互动交流，黑龙江北大荒农业股份有限公司（以下 简称"公司"）将参加由黑龙江省上市公司协会与深圳市全景网络有限公司联合 举办的"2025 年黑龙江辖区上市公司投资者集体接待日活动"，现将相关事项 公告如下： 特此公告！ 黑龙江北大荒农业股份有限公司董事 ...