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]

Group 1 - The company will hold a performance and cash dividend briefing for Q1 2025 on June 30, 2025, from 11:00 AM to 12:00 PM [1][2] - The briefing will be conducted in an interactive online format via the Shanghai Stock Exchange Roadshow Center [2][4] - Investors can submit questions from June 23 to June 27, 2025, before 4:00 PM through the Roadshow Center website or via the company's email [3][2] Group 2 - Key participants in the briefing include the Chairman, General Manager, Board Secretary, CFO, and independent directors [2] - The company aims to address common investor concerns regarding Q1 2025 operational results and financial indicators, as well as the 2024 annual equity distribution [2][1] - After the briefing, investors can access the main content and details of the event through the Roadshow Center [4]

| 证券代码：603477 | 证券简称：巨星农牧 | 公告编号：2025-058 | | --- | --- | --- | | 债券代码：113648 | 债券简称：巨星转债 | | 乐山巨星农牧股份有限公司 关于召开 2025 年第一季度业绩暨现金分红说明会的 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法律责任。 重要内容提示： 投资者可于 2025 年 06 月 23 日(星期一)至 06 月 27 日(星期五)16:00 前登录 上 证 路 演 中 心 网 站 首 页 点 击 " 提 问 预 征 集 " 栏 目 或 通 过 公 司 邮 箱 ir@juxingnongmu.cn 进行提问。公司将在说明会上对投资者普遍关注的问题进 行回答。 乐山巨星农牧股份有限公司（以下简称"公司"）已于 2025 年 4 月 26 日发 布公司《2025 年第一季度报告》并于 2025 年 6 月 11 日披露了《2024 年年度权 益分派实施公告》，为便于广大投资者更全面深入地了解公司 2025 年第一季度的 经营成果、财务状况和 ...

| 证券代码：603477 | 证券简称：巨星农牧 | 公告编号：2025-057 | | --- | --- | --- | | 债券代码：113648 | 债券简称：巨星转债 | | 乐山巨星农牧股份有限公司 关于控股股东部分股份提前购回解除质押的公告 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法律责任。 重要内容提示: 乐山巨星农牧股份有限公司（以下简称"公司"、"本公司"）控股股 东四川巨星企业集团有限公司（以下简称"巨星集团"）持有公司股份数量为 150,967,538 股，占公司总股本比例为 29.60%；巨星集团及其一致行动人合计持 有公司股份数量为 151,037,538 股，占公司总股本比例为 29.61%。截至本公告 披露日，巨星集团累计质押股份数量为 97,330,000 股，占其持股数量的 64.47%； 巨星集团及其一致行动人累计质押股份数量为 97,330,000 股，占其持股数量的 64.44%。 2025 年 6 月 16 日，公司收到巨星集团关于将其持有的本公司部分股份提前 购回解除质押的通知，现将 ...

沪指6月16日上涨0.35%，申万所属行业中，今日上涨的有18个，涨幅居前的行业为传媒、通信，涨幅 分别为2.70%、2.11%。跌幅居前的行业为农林牧渔、美容护理，跌幅分别为0.76%、0.49%。农林牧渔 行业位居今日跌幅榜首位。 资金面上看，两市主力资金全天净流出2.93亿元，今日有10个行业主力资金净流入，传媒行业主力资金 净流入规模居首，该行业今日上涨2.70%，全天净流入资金31.81亿元，其次是计算机行业，日涨幅为 1.99%，净流入资金为26.70亿元。 主力资金净流出的行业有21个，国防军工行业主力资金净流出规模居首，全天净流出资金21.33亿元， 其次是石油石化行业，净流出资金为18.56亿元，净流出资金较多的还有机械设备、有色金属、医药生 物等行业。 农林牧渔行业今日下跌0.76%，全天主力资金净流出4813.91万元，该行业所属的个股共103只，今日上 涨的有52只，涨停的有1只；下跌的有43只。以资金流向数据进行统计，该行业资金净流入的个股有45 只，其中，净流入资金超千万元的有11只，净流入资金居首的是安德利，今日净流入资金4312.11万 元，紧随其后的是温氏股份、宏辉果蔬，净流 ...

Investment Rating - The investment rating for the agriculture, forestry, animal husbandry, and fishery industry is "Positive" (maintained) [1] Core Insights - The report indicates that after a rapid increase in pig slaughtering, pig prices have stabilized, with expectations of limited downward pressure in the short term. The overall supply of pigs is entering a contraction phase, leading to an upward trend in pig prices in Q3 2025 [4][13] - The Consumer Price Index (CPI) has shown a decline for four consecutive months, which may exert pressure on the CPI target for 2025. The report anticipates that policy measures will be implemented to support pig prices and mitigate their negative impact on CPI [5][21] - The investment logic for the pig industry is improving, with recommendations for companies such as Muyuan Foods, Wens Foodstuff Group, and others. The pet food sector is also highlighted for its growth potential, driven by domestic brands [6][33] Summary by Sections Weekly Observation - The average price of pigs in China as of June 13, 2025, is 14.02 yuan/kg, showing a week-on-week decrease of 0.05 yuan/kg and a year-on-year decrease of 4.73 yuan/kg. The report notes that the price has stabilized after a period of accelerated slaughtering [4][13] - The report discusses the impact of weather conditions, such as the "Bailu" typhoon and the rainy season in southern China, which have affected pig transportation and provided short-term support for prices [4][13] Market Performance - The agricultural sector outperformed the broader market by 1.87 percentage points during the week of June 9-13, 2025, with the agricultural index rising by 1.62% while the Shanghai Composite Index fell by 0.25% [6][36] - The pet food sector led the gains, with individual stocks such as Yuanfei Pet (+12.41%), Xiaoming Co. (+7.33%), and Shennong Group (+6.64%) showing significant increases [6][36] Price Tracking - As of June 13, 2025, the average price of pigs is 14.02 yuan/kg, with a decrease of 0.28% from the previous week. The average price of piglets is 32.89 yuan/kg, down 4.69% week-on-week [49][60] - The report also notes that corn and soybean meal prices have increased, with corn futures settling at 2370.00 yuan/ton, up 1.46% week-on-week, and soybean meal futures at 3048.00 yuan/ton, up 1.91% [60][64]

巨星农牧在2024年年度报告中表示，公司将持续聚焦生猪养殖主航道，2025年公司规划商品猪出栏量目 标设定在400万头以上，同时将商品猪完全成本控制在6.5元/斤以内。凭借不断创新升级的养殖技术优 势和智能化管理水平，公司养殖效率将稳步提升，养殖成本有望持续优化。未来，巨星农牧有望以管理 迭代和技术创新实现高质量发展和可持续成长，坚持紧密型"公司+农户"模式联农带农促进农民就业增 收，通过提效节粮助力实现国家粮食安全战略，力争为推进乡村全面振兴创造更多价值。 2024年，巨星农牧实现营业收入60.78亿元，同比增长50.43%；实现归母净利润5.19亿元，盈利能力显 著改善。在行业向标准化、规模化、智能化发展的大趋势中，公司多措并举提升经营管理质量和技术研 发水平，科学规划养殖产能布局，创新提质促进增效降本，强化动物疫病防治工作，联农带农深入推进 乡村全面振兴。巨星农牧积极响应设施农业现代化提升行动，以生猪养殖产能新建项目、养殖技术研究 基地建设项目等项目推动建设标准规范、装备先进、产出高效的现代化养殖设施。同时，公司积极探索 实施智慧农业建设工程，以数字智能化建设项目加速赋能生猪养殖设施向数字化、智能化转型 ...

| | | 乐山巨星农牧股份有限公司 2025 年 5 月份担保情况的公告 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法律责任。 重要内容提示： 被担保人名称及是否为上市公司关联人：被担保人包括乐山巨星农牧 股份有限公司（以下简称"公司"或"上市公司"）合并报表范围内的子公 司（20 家）、部分优质养殖户、客户、合作伙伴（381 户），不存在关联担保。 本次担保金额及已实际为其提供的担保余额：公司 2025 年 5 月（以 下简称"本期间"）新增担保金额合计 26,985.40 万元，其中，对子公司新 增的担保金额为 26,485.40 万元，对优质养殖户、客户、合作伙伴等新增的 担保金额为 500.00 万元。截至 2025 年 5 月 31 日，公司及控股子公司对外 担保余额为 205,841.10 万元，其中，对子公司的担保余额为 199,243.28 万 元，对优质养殖户、客户、合作伙伴等的担保余额为 6,597.82 万元。 | 外 担 | 保 | 授 | 权 | | 户、客户、合作 | 养猪场等 | 元 | | 对 | ...

股票简称：巨星农牧 股票代码：603477 转债简称：巨星转债 转债代码：113648 华西证券股份有限公司 关于乐山巨星农牧股份有限公司 2024 年度权益分派实施暨"巨星转债" 转股价格调整的临时受托管理事务报告 债券受托管理人 二〇二五年六月 重要声明 本报告依据《公司债券发行与交易管理办法》《公司债券受托管理人执业行 为准则》《乐山巨星农牧股份有限公司与华西证券股份有限公司关于公开发行可 转换公司债券之受托管理协议》（以下简称"《受托管理协议》"）、《乐山巨 星农牧股份有限公司公开发行可转换公司债券募集说明书》（以下简称"《募集 说明书》"）等规定和约定，以及乐山巨星农牧股份有限公司（以下简称"巨星 农牧""公司"或"发行人"）公开信息披露文件与提供的相关资料等，由本次 向不特定对象发行可转换公司债券受托管理人华西证券股份有限公司（以下简称 "华西证券"）编制。 本报告不构成对投资者进行或不进行某项行为的推荐意见，投资者应对相关 事宜做出独立判断，而不应将本报告中的任何内容据以作为华西证券所作的承诺 或声明。在任何情况下，投资者依据本报告所进行的任何作为或不作为，华西证 券不承担任何责任。 1 一、本 ...

Market Overview - The computing power industry chain is strengthening, with the CPO direction leading the gains [1][3] - The gold and jewelry, innovative pharmaceuticals, rare earth permanent magnets, quantum technology, and IP economy concept stocks are active [1][3] - The sectors of departure tax refund, anti-tariff, semiconductors, liquor, and consumer electronics are weakening [1][3] Index Performance - On June 12, the three major stock indices closed mixed: the Shanghai Composite Index at 3402.66 points, up 0.01%; the Shenzhen Component Index at 10234.33 points, down 0.11%; and the ChiNext Index at 2067.15 points, up 0.26% [1] Sector Performance - Precious metals sector rose by 3.26% with significant inflows [4] - The beauty care sector increased by 2.39% with a net inflow of 6.18 million [4] - The film and television sector saw a rise of 2.32%, with Happiness Blue Ocean up over 13% [5] - The breeding industry declined, with Xianfeng Holdings down over 4% [5] Fund Flow - Main funds saw a net inflow into communication, computer, and media sectors [7] - Notable net inflows included Rongfa Nuclear Power at 8.81 billion, Zijin Mining at 7.86 billion, and Dongfang Caifu at 6.07 billion [8] - Major net outflows were observed in BYD at 6.65 billion, Kweichow Moutai at 4.94 billion, and Yaoji Technology at 4.71 billion [9] Institutional Insights - Guojin Securities suggests that new consumption faces valuation pressure, recommending low absorption rather than chasing highs [10] - China Galaxy Securities notes the positive impact of "H+A" stocks on the brokerage sector [11] - Guodu Securities highlights that the market's recent stabilization above 3400 points lacks clear signs of new capital influx, with trading volume around 1.3 trillion, indicating a need for caution [11]