一、主要经营数据 （一）生猪销售情况 证券代码：600975 证券简称：新五丰 公告编号：2025-047 湖南新五丰股份有限公司 2025 年 1-9 月主要经营数据公告 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。 湖南新五丰股份有限公司（以下简称"公司"或"本公司"）现将 2025 年 1-9 月主要经营数据公告如下： 1、2025 年 1-9 月公司生猪销售情况 | 月份 | 生猪销量（万头） | | 商品猪销量 | | 商品猪 | | --- | --- | --- | --- | --- | --- | | | | | （万头） | | 销价 | | | 当月 | 累计 | 当月 | 累计 | （元/公斤） | | 4 月 | 40.81 | 167.48 | 24.08 | 93.90 | 14.82 | | 5 月 | 38.70 | 206.18 | 24.35 | 118.25 | 14.72 | | 6 月 | 37.15 | 243.33 | 21.92 | 140.17 | 14.25 | | 7 ...

Core Viewpoint - New Five Feng (600975.SH) reported a significant increase in pig sales volume for the period of January to September 2025, indicating a positive growth trend in the company's performance [1] Group 1: Sales Performance - The company sold a total of 3.5555 million pigs, representing a year-on-year increase of 14.42% [1] - Out of the total sales, 2.0838 million were sold as commercial pigs [1]

Core Viewpoint - The company reported a total of 3.5555 million pigs sold from January to September 2025, indicating a significant operational scale in the livestock sector [1] Group 1: Sales Performance - The company sold a total of 3.5555 million pigs during the first nine months of 2025 [1] - Out of the total, 2.0838 million were sold as commercial pigs, highlighting the focus on market-oriented production [1]

Group 1 - The core point of the article is that Xinwufeng (600975) reported significant growth in both pig sales and feed sales for the first nine months of 2025, indicating a positive trend in the company's performance [1] Group 2 - In the period from January to September 2025, the company sold 3.5555 million pigs, which represents a year-on-year increase of 14.42% [1] - The average selling price of commercial pigs was 14.47 yuan per kilogram [1] - The company sold 10,414.98 tons of feed during the same period, marking a year-on-year growth of 22.11% [1]

Core Insights - The aquaculture sector saw a slight increase of 0.14% on September 29, with Tianyu Biological leading the gains [1] - The Shanghai Composite Index closed at 3862.53, up 0.9%, while the Shenzhen Component Index closed at 13479.43, up 2.05% [1] Aquaculture Sector Performance - Tianyu Biological (603717) closed at 8.87, up 1.49% with a trading volume of 107,100 shares and a transaction value of 93.82 million yuan [1] - Huaying Agriculture (002321) closed at 2.98, up 1.36% with a trading volume of 583,200 shares and a transaction value of 172 million yuan [1] - Luoniushan (000735) closed at 6.36, up 1.27% with a trading volume of 182,200 shares and a transaction value of 115 million yuan [1] - Other notable performers include Shengnong Development (002299) at 17.72 (+1.14%), New Hope (000876) at 9.84 (+1.03%), and Muyuan Foods (002714) at 53.00 (+1.01%) [1] Capital Flow Analysis - The aquaculture sector experienced a net outflow of 265 million yuan from institutional investors, while retail investors saw a net inflow of 1.91 million yuan [2] - Notable net inflows from retail investors were observed in New Hope (000876) with 7.82 million yuan and Huaying Agriculture (002321) with 6.16 million yuan [3] - Conversely, Wens Foodstuffs (300498) faced a significant net outflow of 39.40 million yuan from institutional investors [3]

Core Insights - Current piglet prices are at a low level, presenting a golden opportunity for cost-effective expansion and optimization of pig herd structure [1] - The introduction of high-quality piglets is emphasized as a strategy to enhance future profitability [1] Market Insights - The current attractive piglet prices significantly reduce the comprehensive cost of introducing a piglet, providing a solid foundation for future profits [1] - The new Meifeng piglets are highlighted for their high cost-performance ratio, combining low costs with high output [1] Quality Attributes - New Meifeng piglets boast superior genetics, leading to faster growth rates and lower feed-to-meat ratios, which can greatly save on feed costs and allow for earlier market entry [2] - Their excellent body shape ensures a higher meat yield, providing a price advantage at the time of sale [2] Call to Action - Immediate action is encouraged to secure lower initial costs and lock in higher future farming returns with high-quality piglets from New Meifeng [2]

Core Viewpoint - The Ministry of Agriculture and Rural Affairs, in collaboration with the National Development and Reform Commission, has initiated a capacity regulation meeting for the pig industry, emphasizing a reduction in production by 1 million pigs by the end of the year among major pig farming enterprises [1][2]. Group 1: Policy and Regulation - The meeting highlighted a focus on "controlling breeding and nurturing" and detailed the tasks for reducing breeding capacity among major pig farming enterprises [1]. - A series of financial measures will accompany the capacity regulation to support the industry [1]. - The meeting called for leading enterprises to take the initiative in controlling production capacity, including reducing the number of breeding sows and lowering the volume of pigs for market [1][2]. Group 2: Market Dynamics - Since late July, pig prices have been on a downward trend, with the futures index hitting a yearly low in late September [1]. - The recovery of domestic pig production capacity post-African swine fever has been primarily driven by leading enterprises, with 23 listed pig companies selling 108 million pigs in the first half of 2025, a year-on-year increase of 31.86% [1]. - The proportion of these companies' sales to the national total rose to 29.5%, up 7 percentage points year-on-year [1]. Group 3: Supply and Demand Analysis - The current inventory of breeding sows remains stable, with a slight decrease of 0.02% month-on-month but an increase of 0.02% year-on-year, indicating a slow process of capacity reduction [2]. - The industry is experiencing pressure from supply, with larger weights of pigs leading to increased market supply and a generally pessimistic market sentiment [3]. - Demand is supported by seasonal factors, such as cooler weather in the north and pre-holiday stocking, but overall demand remains limited [3].

Market Overview - The aquaculture sector experienced a decline of 2.56% on September 18, with Lihua Co. leading the drop [1] - The Shanghai Composite Index closed at 3831.66, down 1.15%, while the Shenzhen Component Index closed at 13075.66, down 1.06% [1] Stock Performance - Lihua Co. (300761) saw a significant drop of 4.71%, closing at 22.68 with a trading volume of 177,900 shares and a turnover of 411 million yuan [2] - Other notable declines included New Hope (000876) down 1.68% to 9.97 yuan, and Xiangjia Co. (002982) down 1.90% to 14.99 yuan [1][2] - The total net outflow of main funds in the aquaculture sector was 654 million yuan, while retail investors saw a net inflow of 615 million yuan [2][3] Fund Flow Analysis - The main funds showed a net outflow from several companies, including Jingji Zhinong (000048) with a net outflow of 61.41 million yuan [3] - Retail investors contributed positively to the sector, with significant inflows into companies like Huaying Agriculture (002321) and Xiantan Co. (002746) [3] - The overall fund flow indicates a mixed sentiment, with institutional investors pulling back while retail investors remain active [2][3]

Group 1 - The A-share market saw a decline in pork stocks, with notable drops in several companies [1] - Bangji Technology experienced a nearly 5% drop, while Tiankang Biological and Aonong Biological fell over 3% [1] - Other companies such as Zhenghong Technology, Xinwufeng, and Lihua Co. also reported declines exceeding 2% [1] Group 2 - Bangji Technology's market capitalization is 4.548 billion, with a year-to-date increase of 169.83% [2] - Tiankang Biological has a market cap of 10.5 billion and a year-to-date increase of 21.33% [2] - Aonong Biological's market cap stands at 15.1 billion, with a year-to-date increase of 64.41% [2] - Delisi has a market cap of 3.316 billion and a year-to-date increase of 19.45% [2] - Zhenghong Technology's market cap is 2.672 billion, with a year-to-date increase of 16.29% [2] - Xinwufeng has a market cap of 8.337 billion, with a year-to-date increase of 6.61% [2] - Lihua Co. has a market cap of 19.5 billion, with a year-to-date increase of 23.64% [2]

Core Viewpoint - The pork stocks experienced a significant decline in the afternoon trading session, with several companies facing notable drops in their stock prices [1] Company Summary - Bangji Technology saw a sharp decline, dropping over 7% [1] - Aonong Biological and Tiankang Biological both fell by more than 4% [1] - Zhenghong Technology and Xinwufeng also followed the downward trend [1]