Core Points - The company, Pulaike, announced the approval of a new veterinary drug by the Ministry of Agriculture and Rural Affairs, which includes a trivalent inactivated vaccine for feline panleukopenia, calicivirus disease, and rhinotracheitis [1] Group 1 - The new veterinary drug is a combination vaccine consisting of strains 708, 60, and 64 [1] - The approval was granted following the review process outlined in the Veterinary Drug Management Regulations and the Veterinary Drug Registration Measures [1] - The new veterinary drug registration certificate was officially issued on September 29, 2025, as per the announcement [1]

Group 1 - Yinglian Co., Ltd. expects a net profit increase of 1531.13% to 1672.97% year-on-year for the first three quarters of 2025, with projected revenue of 1.63 billion to 1.65 billion yuan, a growth of 9.49% to 10.83% [1] - Meixin Sheng plans to reduce its shareholding by no more than 1% through centralized bidding and block trading [1] - Huayin Technology signed two sales contracts totaling 402 million yuan, with one contract for special functional materials and another for research project materials [3] Group 2 - Shen Highways reported a total toll revenue of 114 million yuan for August [5] - Dash Smart signed a contract worth 113 million yuan for a smart hospital project [7] - Tianbang Food received an administrative regulatory measure decision from the China Securities Regulatory Commission for failing to disclose information in a timely manner [8] Group 3 - Fashilong plans to invest 250 million yuan to establish a wholly-owned subsidiary focused on AI applications and cloud computing [10] - Junpu Intelligent received a government subsidy of 20 million yuan, accounting for 243.97% of its audited net profit for 2024 [11] - Longyun Co. plans to apply for a bank credit limit of 32 million yuan [12] Group 4 - Yifan Pharmaceutical's subsidiary received acceptance for a drug registration application for a medication used to lower phenylalanine levels in patients [12] - Rundu Co. received a drug registration certificate for a hypertension medication [13] - Huahai Qingke elected a new employee director and appointed a new vice president [17] Group 5 - Wanyi Technology received a government subsidy of 173,000 yuan [19] - Haizheng Pharmaceutical's tacrolimus capsules passed the consistency evaluation for generic drugs [20] - Pulaike's new veterinary vaccine received registration certification [22] Group 6 - Boguang New Materials signed a major sales contract estimated at 4.3 billion to 5 billion yuan for nickel powder products [41] - Electric Soul Network announced plans for shareholders to reduce their holdings by up to 1.63% [42] - Jin Haitong's shareholders plan to reduce their holdings by up to 3% [44]

Core Insights - The animal health sector experienced a slight increase of 0.46% on September 29, with Shenlian 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] Stock Performance - Shenlian Biological (688098) closed at 10.59, up 1.92% with a trading volume of 68,700 shares and a turnover of 72.32 million yuan [1] - Other notable performers included: - Biological Shares (600201) at 9.48, up 1.50% with a turnover of 503 million yuan [1] - Pulaike (603566) at 13.78, up 1.03% with a turnover of 54.30 million yuan [1] - Zhongmu Shares (600195) at 7.12, up 0.85% with a turnover of 49.02 million yuan [1] Capital Flow - The animal health sector saw a net outflow of 7.69 million yuan from institutional investors, while retail investors contributed a net inflow of 8.08 million yuan [2] - The detailed capital flow for key stocks includes: - Shenlian Biological: net outflow of 5.50 million yuan from retail investors [3] - Biological Shares: net outflow of 7.67 million yuan from retail investors [3] - Pulaike: net outflow of 4.08 million yuan from retail investors [3]

Core Viewpoint - The company, Prike (603566.SH), has received approval from the Ministry of Agriculture and Rural Affairs for a new veterinary drug aimed at preventing three feline diseases, marking a significant development in its product offerings [1] Group 1: Product Approval - The new veterinary drug is a trivalent inactivated vaccine for feline panleukopenia, feline calicivirus, and feline infectious respiratory disease [1] - The vaccine was jointly submitted by the company and its wholly-owned subsidiaries, Luoyang Huizhong Biotechnology Co., Ltd. and Luoyang Huizhong Animal Health Co., Ltd. [1] - The new veterinary drug registration certificate was officially issued on September 29, 2025, as per the announcement from the Ministry of Agriculture and Rural Affairs [1] Group 2: Vaccine Efficacy - The vaccine is designed to prevent feline panleukopenia, feline calicivirus disease, and feline infectious respiratory disease [1] - The immune response is expected to develop within 7 days after the second vaccination, with an immunity duration of 12 months [1]

根据《兽药管理条例》和《兽药注册办法》规定，经农业农村部审查，批准 普莱柯生物工程股份有限公司（以下简称"公司"）及全资子公司洛阳惠中生物 技术有限公司（以下简称"惠中生物"）、洛阳惠中动物保健有限公司（以下简 称"惠中动保"）等单位联合申报的"猫泛白细胞减少症、杯状病毒病、鼻气管 炎三联灭活疫苗（708 株+60 株+64 株）"为新兽药，并于 2025 年 9 月 29 日公 示了核发《新兽药注册证书》（中华人民共和国农业农村部公告第 953 号）事项。 详情如下： 一、新兽药的基本信息 新兽药名称：猫泛白细胞减少症、杯状病毒病、鼻气管炎三联灭活疫苗（708 株+60 株+64 株） 证券代码：603566 证券简称：普莱柯 公告编号：2025-039 普莱柯生物工程股份有限公司 关于获得新兽药注册证书的公告 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。 注册分类：三类 主要成分与含量：每头份疫苗中含灭活的猫泛白细胞减少症病毒 708 株 10 5.7FAID50，含灭活的猫杯状病毒 60 株 10 9.0TCID50， ...

Core Viewpoint - The company, Prike (603566.SH), has received approval from the Ministry of Agriculture and Rural Affairs for a new veterinary drug aimed at preventing three feline diseases, marking a significant advancement in its product offerings [1] Group 1: Product Approval - The new veterinary drug is a trivalent inactivated vaccine for feline panleukopenia, feline calicivirus, and feline infectious respiratory disease [1] - The vaccine was jointly submitted by the company and its wholly-owned subsidiaries, Luoyang Huizhong Biotechnology Co., Ltd. and Luoyang Huizhong Animal Health Co., Ltd. [1] - The new veterinary drug registration certificate was officially issued on September 29, 2025, as per the announcement by the Ministry of Agriculture and Rural Affairs [1] Group 2: Vaccine Efficacy - The vaccine is designed to prevent feline panleukopenia, feline calicivirus disease, and feline infectious respiratory disease [1] - The immune response is expected to develop within 7 days after the second vaccination, with an immunity duration of 12 months [1]

Core Viewpoint - The company, Pulike (603566.SH), has received approval from the Ministry of Agriculture and Rural Affairs for a new veterinary drug, specifically a trivalent inactivated vaccine for cats, which targets feline panleukopenia, calicivirus, and rhinotracheitis [1] Group 1 - The new veterinary drug is a joint application by Pulike and its wholly-owned subsidiaries, Luoyang Huizhong Biotechnology Co., Ltd. and Luoyang Huizhong Animal Health Co., Ltd. [1] - The approval includes the issuance of the New Veterinary Drug Registration Certificate, as announced in the Ministry of Agriculture and Rural Affairs' public notice No. 953 [1] - The vaccine is expected to be publicly available by September 29, 2025 [1]

Core Viewpoint - The animal health sector experienced a rise of 1.59% on September 26, with Bio-Pharmaceuticals leading the gains, while the overall market indices, Shanghai Composite and Shenzhen Component, saw declines of 0.65% and 1.76% respectively [1] Group 1: Market Performance - The animal health sector's individual stock performance showed significant variations, with Bio-Pharmaceuticals closing at 9.34, up by 7.23%, and a trading volume of 1.0367 million shares, resulting in a turnover of 973 million yuan [1] - Other notable performers included Huisheng Biological at 20.68, up by 1.87%, and Ruipu Biological at 20.93, up by 1.60% [1] Group 2: Capital Flow - The animal health sector saw a net inflow of 86.5157 million yuan from institutional investors, while retail investors experienced a net outflow of 44.7995 million yuan [2] - The capital flow data indicates that major stocks like Bio-Pharmaceuticals had a net inflow of 12.63% from institutional investors, despite a significant outflow from retail and speculative investors [3]

Investment Rating - The report maintains an investment rating of "Outperform" for the agricultural, forestry, animal husbandry, and fishery industry [1]. Core Insights - The agricultural, forestry, animal husbandry, and fishery industry outperformed the benchmark index in August 2025, with a rise of 11.6% compared to a 10.3% increase in the CSI 300 index, resulting in a 1.3 percentage point outperformance [8][11]. - The report highlights a mixed performance in livestock prices, with pig prices declining while chicken prices showed signs of recovery [8][27]. - The report suggests that the industry is currently undervalued, with both price-to-earnings (PE) and price-to-book (PB) ratios below historical averages, indicating potential for valuation recovery [8]. Summary by Sections Market Review - In August 2025, the agricultural, forestry, animal husbandry, and fishery index rose by 11.6%, ranking 9th among 30 sectors [8][11]. - The planting sector saw the highest gains, while the aquaculture processing sector experienced the largest declines [8]. Livestock Industry Data Tracking - **Pig Farming**: The average price of pigs in August 2025 was 13.77 yuan/kg, down 5.36% month-on-month and 32.27% year-on-year. The market faced oversupply, leading to price declines [17][24]. - **Chicken Farming**: The average price of white feathered chickens was 3.56 yuan/jin, reflecting a month-on-month increase of 10.56% but a year-on-year decrease of 4.30% [27][29]. Pet Food - Pet food exports in August 2025 reached 29,500 tons, a year-on-year increase of 3.53%. However, the export value in USD decreased by 15.86% [32][34]. Major Agricultural Product Price Tracking - The report includes tracking of corn, wheat, soybean meal, and rapeseed meal prices, indicating fluctuations in the market [36][37]. Industry Dynamics and Company News - The report tracks significant events in the industry, including changes in grain import volumes and agricultural production forecasts [43]. - It also highlights key announcements from listed companies in the sector, including profit distribution plans and stock buybacks [45][48].

Core Viewpoint - On September 25, 2023, the stock of Pulaike experienced a decline of 0.73%, with a trading volume of 43.54 million yuan, indicating a relatively stable market performance despite the slight drop [1]. Financing Summary - On the same day, Pulaike had a financing buy-in amount of 3.45 million yuan and a financing repayment of 3.77 million yuan, resulting in a net financing outflow of 321,000 yuan [1]. - As of September 25, the total financing and securities lending balance for Pulaike was 151 million yuan, with the financing balance accounting for 3.22% of the circulating market value, which is above the 50th percentile level over the past year, indicating a high level of financing activity [1]. - In terms of securities lending, Pulaike repaid 5,700 shares and sold 600 shares on September 25, with the selling amount calculated at 8,124 yuan, while the remaining securities lending balance was 14,350 yuan, which is below the 20th percentile level over the past year, indicating a low level of securities lending activity [1]. Company Overview - Pulaike Bioengineering Co., Ltd. was established on June 22, 2002, and listed on May 18, 2015. The company primarily engages in the research, production, sales, and related technology transfer of veterinary biological products, chemical drugs, and traditional veterinary medicine [2]. - The revenue composition of Pulaike includes poultry vaccines and antibodies (41.19%), pig vaccines (32.25%), chemical drugs (21.37%), functional health products (1.79%), pet vaccines (1.38%), and other income sources [2]. - As of June 30, 2023, Pulaike had 18,000 shareholders, an increase of 4.27% from the previous period, with an average of 19,234 circulating shares per person, a decrease of 4.09% [2]. Financial Performance - For the first half of 2025, Pulaike achieved an operating income of 559 million yuan, representing a year-on-year growth of 15.79%, and a net profit attributable to shareholders of 116 million yuan, reflecting a significant year-on-year increase of 57.12% [2]. Dividend Information - Since its A-share listing, Pulaike has distributed a total of 1.057 billion yuan in dividends, with 500 million yuan distributed over the past three years [3]. Institutional Holdings - As of June 30, 2023, the seventh largest circulating shareholder of Pulaike was the Guotai Zhongzheng Livestock Breeding ETF (159865), holding 3.4499 million shares, which is an increase of 141,400 shares compared to the previous period [3].