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].

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].

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 ...

Investment Rating - Industry Rating: Outperform the market (maintained rating) [12] Core Views - The pet sector continues to show high prosperity, driven by domestic substitution and consumption upgrades, leading to a dual increase in volume and price [1][2] - The industry is transitioning from "scale expansion" to "value creation," with leading companies shifting from "manufacturing" to "intelligent manufacturing" through formula innovation and precise demand capture [2][17] - The domestic pet food market remains strong, with a significant increase in sales and exports, indicating robust growth potential for domestic brands [2][17] Summary by Sections Pet Sector - The fifth TOPS Pet Expo in Shanghai showcased over 1,200 exhibitors and 8,000+ brands, reflecting strong growth momentum in the pet industry, with a 43% year-on-year increase in attendance [1][16] - Trends in pet food are shifting towards precision nutrition, with a focus on age-specific feeding and high-end production techniques [1][16] - Key recommended companies in the pet food sector include Guibao Pet, Zhongchong Co., Petty Co., and Lusi Co., with additional recommendations for pet medical and product companies [2][17] Swine Sector - As of May 10, the average price of live pigs was 14.90 yuan/kg, showing a slight decline, with production capacity continuing to grow [3][18] - The industry is facing a potential downturn in profitability due to weak demand and seasonal price declines [3][19] - Recommended companies include leading players such as Wens Foodstuffs and Muyuan Foods, with a focus on core assets [19] Poultry Sector - The white chicken segment is facing uncertainties in breeding imports, with a significant decline in the number of breeding stock updated [20][21] - The yellow chicken segment is expected to benefit from improved consumer demand, with stable prices observed [23] - Recommended companies include Shengnong Development and Lihua Co. for white chicken, and Wens Foodstuffs for yellow chicken [22][23] Planting Sector - The government emphasizes agricultural technology innovation and self-sufficiency in food security, with a focus on biological breeding [25][26] - Recommended companies in the seed sector include Longping High-Tech and Dabeinong, with additional focus on agricultural water-saving technologies [25][26] Feed and Animal Health Sector - Hai Da Group is highlighted for its market share growth and consistent performance in the feed sector [27] - The animal health sector is seeing new opportunities in pet health products, with recommended companies including KQ Bio and Zhongmu Co. [28]

与黑龙江不少地方一样，北大荒集团军川农场的3.4万亩高标准农田改造已全部完成。"高标准就是不一 样，真得劲儿！"唠起自家承包的220亩水田，农户吕贤达喜不自禁。 小田变大田——从3亩一块的小田变18亩一块的大田，农机可以撒欢跑。每年因此节省机耕费、人工费 1800元，插秧进度还能提前1天。 田埂变耕地——经过规模化格田改造，多出3.2亩有效耕种面积，预计增产水稻4000斤。 方格水田，平整如镜，直连天际。 "有了国债资金支持，越来越多跑水、跑肥、跑土的'三跑田'，有望变成保水、保肥、保土的'三保 田'。"红星农场党委书记王元林对未来充满期待。 田间地头科技范儿更足。 走进北大荒集团二九〇农场的数字化高标准农田基地，物联网设备矗立田间，联通着智能化数控灌区系 统——46座分水闸、12座节制闸智能调节开合，实现精细精准供水。 "智能灌溉后，产量提升不少。"田里的新科技，给了农户王秀丽扩种的底气，"我家承包的430.9亩地， 去年多打了将近1.7万斤粮。来年有机会还打算多包一点！" 二九〇农场农业生产部总经理李广茂介绍，借助国债资金支持，他们农场综合运用水肥一体化等技术， 玉米亩产提升约60斤。 北大荒集团，是黑龙 ...

转自：黑龙江日报 文 | 黑龙江日报 姜斌 从三江平原到松嫩腹地，5月的北大荒，处处可见春耕生产的火热场景。北大荒正利用科技和智慧，在 万亩良田上描绘着壮美的现代农业画卷，为端稳"中国饭碗"筑牢春耕基石。 记者从北大荒集团农业发展部了解到，截至5月5日，北大荒集团水稻生产进度中，水稻泡田完成 99.98%；春整地完成99.86%；水稻插秧也陆续开始，截至目前，完成0.58万亩。旱田春播正如火如荼地 进行，已播858万亩，完成超过34%；其中，玉米播种完成超过68%；整体春耕工作将按计划完成，预 计在5月20日左右完成全部播种和插秧作业。 智能农机管理平台 北斗导航"数据种地" 水稻插秧更智慧 5月6日，在北大荒农业股份八五六分公司第六管理区的一处水田内，无人水稻插秧机自动进行路径规 划、转弯掉头、秧爪精准启停等全流程作业，实现传统插秧向"数据种地"的转变。 连日来，为保障水稻插秧工作高标准进行，八五八农场1200余台插秧机全部安装了北斗导航辅助系统， 实现智能辅助插秧全覆盖。 在第七管理区种植户张炳立家水稻田边，管理区农机技术员黄龙海正在向种植户们详细讲解如何正确操 作插秧机导航，并指导他们完成插秧前的机器调 ...

截至5月7日收盘，大豆概念上涨3.29%，位居概念板块涨幅第5，板块内，13股上涨，秋乐种业、先达 股份、荃银高科等涨幅居前，分别上涨17.90%、6.17%、4.51%。 大豆概念资金流入榜 | 代码 | 简称 | 今日涨跌幅 | 今日换手率 | 主力资金流量（万 | 主力资金净流入比率 | | --- | --- | --- | --- | --- | --- | | | | （%） | （%） | 元） | （%） | | 002385 | 大北农 | 2.18 | 5.29 | 6281.80 | 8.11 | | 300087 | 荃银高 科 | 4.51 | 7.87 | 3152.70 | 4.67 | | 601952 | 苏垦农 发 | 1.74 | 1.77 | 1932.64 | 8.01 | | 600598 | 北大荒 | 2.36 | 4.94 | 1533.51 | 1.13 | | 600313 | 农发种 业 | 2.95 | 5.57 | 1249.20 | 3.17 | | 600704 | 物产中 大 | 1.72 | 1.49 | 668.00 | 1.64 | | ...

Group 1 - The core viewpoint emphasizes the recovery of domestic demand, suggesting a more optimistic outlook for investment opportunities in the food and beverage sector, with potential for a dual boost in fundamentals and valuations in the second half of the year [1] - The major consumption ETF has shown a year-to-date maximum drawdown of 5.57%, indicating some volatility, but it has also outperformed its benchmark with a one-year annualized excess return of 2.18% [2] - The latest price-to-earnings ratio (PE-TTM) for the major consumption index is 19.84, which is considered low compared to historical levels, indicating potential undervaluation [2] Group 2 - The top ten weighted stocks in the major consumption index account for 67.16% of the index, highlighting the concentration of investment in a few key players [3] - The performance of individual stocks within the index shows mixed results, with notable increases in stocks like Hai Tian Wei Ye (3.06%) and declines in others like Dong Peng Beverage (-0.89%) [5] - The report indicates that the liquor industry is entering a bottoming phase, with expectations for recovery as companies manage inventory more effectively in the latter half of the year [1]

2025年4月29日，北大荒(600598.SH)发布2025年一季报。 公司营业总收入为9.56亿元，在已披露的同业公司中排名第6，较去年同报告期营业总收入减少52.38万 元，同比较去年同期下降0.05%。归母净利润为5.39亿元，在已披露的同业公司中排名第1，较去年同报 告期归母净利润减少1609.34万元，同比较去年同期下降2.90%。经营活动现金净流入为51.70亿元，在 已披露的同业公司中排名第1，较去年同报告期经营活动现金净流入增加6655.68万元，实现5年连续上 涨，同比较去年同期上涨1.30%。 公司最新总资产周转率为0.08次，在已披露的同业公司中排名第13，较去年同期总资产周转率持平，同 比较去年同期下降2.56%。最新存货周转率为0.61次，在已披露的同业公司中排名第7，较去年同期存货 周转率增加0.16次，实现2年连续上涨，同比较去年同期上涨35.39%。 公司股东户数为9.78万户，前十大股东持股数量为12.16亿股，占总股本比例为68.42%，前十大股东持 股情况如下： | 序号 | 股东名称 | 持股比例 | | --- | --- | --- | | I | 北大荒农垦集团 ...

登录新浪财经APP 搜索【信披】查看更多考评等级 (一)主要会计数据和财务指标 单位：元 币种：人民币 证券代码：600598 证券简称：北大荒 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 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整，不存在虚假 记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 公司负责人、主管会计工作负责人及会计机构负责人（会计主管人员）保证季度报告中财务信息的真 实、准确、完整。 第一季度财务报表是否经审计 □是 √否 一、主要财务数据 ■ (二)非经常性损益项目和金额 √适用 □不适用 单位:元 币种:人民币 ■ 对公司将《公开发行证券的公司信息披露解释性公告第1号一一非经常性损益》未列举的项目认定为非 经常性损益项目且金额重大的，以及将《公开发行证券的公司信息披露解释性公告第1号一一非经常性 损益》中列举的非经常性损益项目界定为经常性损益的项目，应说明原因。 □适用 √不适用 (三)主要会计数据、财务指标发生变动的情况、原因 √适用 □不适用 ...