从政策 环保 猪价 三个维度演绎生猪板块持续性 20250722 摘要 政策调控旨在稳定生猪价格和 CPI，通过限产、禁二育和降重等措施， 影响生猪供给，或延长行业盈利周期。企业需关注政策执行力度和潜在 的政企博弈。 环保政策对生猪养殖行业影响深远，全国范围内的环保整治逐步落实， 企业需确保环保达标，否则面临整改或关停风险。环保合规是企业可持 续发展的关键。 预计未来生猪价格将在 14-16 元/公斤区间波动，受繁育增量、降重效 果、市场需求和冻肉指标等多重因素影响。限产措施若有效，盈利周期 或延长至明年。 德康、牧原和邦基科技在当前环境下表现突出。德康兼具成本和量优势， 牧原成本持续降低，盈利超预期，邦基科技拓展产业链，积极应对政策 挑战。 生猪养殖企业应积极调整转型，包括有效利用闲置产能、优化生产结构 和加强环保合规，以适应新政要求并提升竞争力，实现可持续发展。 Q&A 最近农业板块股票和期货大涨的原因是什么？ 用闲置产能，如母猪场和肥猪场，可以达到政策与企业端的平衡。 如何看待环保政策在生猪养殖行业中的作用？ 环保政策在生猪养殖行业中起到了重要作用。全国范围内进行环保整治，是十 年一次的大规模行动。虽然 ...

Group 1: M&A Activity Overview - From July 14 to July 20, there were 77 M&A events involving listed companies, with 27 classified as significant M&A transactions[9] - Out of the total M&A events, 12 were completed, including 1 significant M&A transaction involving Baota Industrial[9] - There were 3 failed M&A attempts by listed companies, specifically by Lixing Co., Hongming Co., and Zhongji Health[15] Group 2: Policy Updates - On July 18, Tianjin's financial authorities released measures to support M&A, focusing on 12 key industrial chains and establishing a resource pool for quality M&A targets[7] - The Shanghai G60 Science and Technology Innovation Group held a summit on July 16 to discuss M&A and overseas expansion in the context of innovation and industry leadership[7] Group 3: Market Performance - During the week of July 14 to July 20, the restructuring index outperformed the Wind All A index by 0.27%[19] - Over a mid-term view, the restructuring index's rolling 20-day return shifted from negative to positive compared to the Wind All A index[19] Group 4: Control Changes - Two listed companies reported changes in actual control during this period, with Shenjian Co. and Hualan Group undergoing ownership transitions[17]

猪肉股震荡走高，邦基科技（603151）涨停，神农集团（605296）涨超6%，巨星农牧（603477）、罗 牛山（000735）涨超4%，正虹科技（000702）、温氏股份（300498）跟涨。 ...

A股猪肉板块持续冲高，邦基科技涨超8%，神农集团、巨星农牧、罗牛山、东瑞股份、正虹科技、温 氏股份跟涨。 ...

生猪推【牧原】【德康】【邦基】20250718 摘要 政策调控旨在稳定生猪价格，农业农村部通过约谈头部及腰部企业，要 求稳产、限二育和降重，以支撑下半年及明年价格。政策执行面临阻力， 但环保手段被用于规范规模场，限制新增产能。 受体重和疾病因素影响，近期猪价有所下降，但预计三季度、四季度及 2026 年价格乐观，有望达到 13-15 元/公斤。2025 年全国范围内微增 产趋势明显，但受限后增速放缓，延长盈利周期。 当前猪企竞争体现在利润表现上，牧原二季度利润表现亮眼，得益于降 本措施。成本控制良好且母猪资源充足的企业将在限产政策和猪价预期 较好的情况下持续受益。 德康创新推出代养母猪模式，成本低于传统模式，并引领竞争对手模仿。 德康还在轻资产维度进行创新，增强核心竞争力，在存量市场中具备量 与成本双重优势。 邦基科技从饲料转型至养猪领域，2025 年饲料销量同比翻倍增长。公 司战略切入下游养殖，收购瑞东 2.6 万头 PSC 优质资产并打通育肥环节， 提升生产效能。 Q&A 当前生猪行业的政策变化及其影响是什么？ 生猪行业目前的政策变化主要由国家推动，旨在稳定 CPI 和提升生产效能。政 策干预加速了产能淘 ...

山东邦基科技股份有限公司 证券代码：603151 证券简称：邦基科技 公告编号：2025-065 关于重大资产重组进展公告 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、本次交易概述 三、本次交易的进展情况 公司正与交易各方积极沟通交易方案，有序推进本次交易相关工作。公司已 协调本次交易的中介机构进场开展尽职调查工作。本次交易标的资产的审计和评 估工作尚未完成，标的资产评估值及交易作价均尚未确定。公司将在相关工作完 成后，再次召开董事会审议本次交易的相关事项。 山东邦基科技股份有限公司（以下简称"公司"）拟通过发行股份及支付现 金的方式购买 Riverstone Farm Pte. Ltd.所持有的山东北溪农牧有限公司、山 东瑞东伟力农牧有限公司、山东鑫牧农牧科技有限公司、瑞东农牧（利津）有限 公司、瑞东农牧（山东）有限责任公司、瑞东威力牧业（滨州）有限公司全部 100%的股权以及派斯东畜牧技术咨询（上海）有限公司 80%的股权（以下简称"本 次交易"）。本次交易前，交易对方与公司不存在关联关系。本次交易完成后， 交易对 ...

事件：公司发布2025H1 业绩预告，预计实现归母净利润6250-7050 万元，同比增加167%-201%。其中 Q1 归母净利润2800 万，预计Q2 利润3450-4250万元，中位数3850 万元，同比增长1144%。 看好公司未来转型养猪的长期发展空间。公司6 月公告计划以发行股份及支付现金相结合的方式收购7 家生猪养殖相关公司股权，将通过轻资产模式向下游养殖端进行业务拓展。公司有望依托收购标的现有 产能及生产成绩优势实现规模快速扩张，与自身饲料业务协同发展。 点评： 客户结构持续优化，规模场存栏增长带动饲料销量同比高增。25H1，公司利润高增主要系直销渠道合 作的规模化养殖公司存栏量增加，带动公司饲料销量及销售收入同比明显增长。其中，Q1 归母净利润 2800 万，同比+38%，环比+277%，预计Q2 实现归母净利润3450~4250 万元，同比+1115%~+1373%， 增幅走宽。预期下半年公司坏账计提规模将缩减，减值冲回有望提高业绩弹性。 盈利预测与投资评级：我们预计公司2025-2027 年实现营收分别为41.68、48.02、51.60 亿元，实现归母 净利分别为1.64、1.98、2 ...

Group 1 - The core viewpoint of the news is that Shandong Bangji Technology Co., Ltd. expects significant growth in its net profit for the first half of 2025, with an estimated increase of 166.77% to 200.91% compared to the same period in 2024 [2] - The company anticipates a net profit attributable to shareholders of the parent company between 62.5 million to 70.5 million yuan, which represents an increase of 39.07 million to 47.07 million yuan year-on-year [2] - The expected net profit after deducting non-recurring gains and losses is projected to be between 60.8 million to 68.8 million yuan, reflecting a year-on-year increase of 195.55% to 234.44% [2] Group 2 - The primary reason for the anticipated performance increase is the growth in the number of livestock in large-scale breeding companies through direct sales channels, which has driven sales volume and revenue growth [2] - In the first quarter of 2025, the company achieved revenue of 1.076 billion yuan and a net profit of 28 million yuan, with the second quarter expected to yield a net profit of 34.5 million to 42.5 million yuan, representing a quarter-on-quarter growth of 23.21% to 51.79% [2] - On June 16, the company disclosed a plan to acquire 100% equity of six companies and 80% equity of another company, which will allow it to extend its business from solely pig feed to the downstream breeding industry, creating a vertically integrated supply chain [3] Group 3 - This acquisition is expected to enhance the company's ability to utilize its production capacity, reduce risks, and increase revenue sources and profit growth points, thereby improving overall profitability and risk resistance [3] - The integration of the industry chain is anticipated to have a profound positive impact on the company's future performance [3]

Group 1 - The People's Bank of China has increased its gold reserves for eight consecutive months, with the latest figures showing a rise of 70,000 ounces to a total of 73.9 million ounces as of the end of June [2] - By the end of 2027, China aims to have over 100,000 high-power charging facilities nationwide, focusing on local economic development and the promotion of new energy vehicles [2] - The Shanghai Stock Exchange and the China Securities Index Company will launch several specialized indices on July 21, including the Shanghai Stock Exchange Specialized New Index and the China Securities Specialized New 100 Index [3] Group 2 - A new mandatory national standard for passenger car braking systems will take effect on January 1, 2026, introducing requirements for electric transmission braking systems and emergency braking signals [3] - An international standard for testing scenarios of autonomous vehicle systems has been officially released, detailing evaluation processes and testing methods [4] - The U.S. President has signed an executive order extending the delay for "reciprocal tariffs" until August 1, affecting imports from 14 countries with varying tariff rates [8][5] Group 3 - The U.S. stock market saw declines across major indices, with the Dow Jones down 0.94%, the Nasdaq down 0.92%, and the S&P 500 down 0.79%, impacting stocks of Japanese and Korean companies listed in the U.S. [5] - Companies such as Nissan and Toyota experienced significant stock drops, with Nissan down over 7% and Toyota down nearly 4% [5] - The market sentiment is shifting towards a balanced approach, with a focus on large-cap stocks and potential inflows of incremental capital in July [8][9]

Core Viewpoint - Several listed companies in the Shanghai and Shenzhen markets have announced significant developments, including management changes, stock trading fluctuations, and major contracts, which may present investment opportunities and risks for investors [2]. Group 1: Management Changes and Legal Issues - Scanda's chairman and general manager, Li Yuejie, along with director Zhu Chuncheng, have been subjected to criminal coercive measures due to alleged violations related to information disclosure [3]. - Longhong High-Tech is planning to acquire 100% equity of Guangxi Changke, leading to a stock suspension for up to 10 trading days [6]. Group 2: Stock Trading and Performance - New Asia Electronics reported abnormal stock trading with a cumulative price deviation exceeding 20% over three days, while confirming that its operations are normal and consistent with previously disclosed share reduction plans [5]. - ST Tiexin announced the removal of risk warnings and a name change, which will increase the trading limit from 5% to 10% [8]. Group 3: Financial Performance Forecasts - Industrial Fulian expects a net profit increase of 36.84% to 39.12% year-on-year for the first half of 2025, driven by a surge in AI-related business [18]. - Huayou Cobalt anticipates a net profit increase of 55.62% to 67.59% for the same period, benefiting from integrated operations and rising cobalt prices [19]. - Guoli Co. forecasts a staggering net profit increase of 130.91% to 158.08% for the first half of 2025, attributed to new product and market expansions [20]. - Bangji Technology expects a net profit increase of 166.77% to 200.91%, driven by increased sales from direct sales channels [21]. - Lier Chemical predicts a net profit increase of 185.24% to 196% due to rising product sales and cost reduction efforts [25]. Group 4: Major Contracts and Projects - Huadian Science and Technology signed significant contracts worth approximately RMB 25.16 billion for coal handling and transportation systems [41]. - Aerospace Engineering is the first candidate for a project with a bid of RMB 23.92 billion for a coal gasification facility [43].