农业新质生产力是将现代新技术、新模式运用到农业中，推动农业高质量发展的新型生产力。以农业新 质生产力推动农业高质量发展，既是加快农业现代化进程的现实需要，也是实现从农业大国迈向农业强 国的必然选择。 在实际推进中，农业科技创新涉及科技研发、科技产业化等环节，这些都离不开金融行业的支持。近 日，农业农村部、科技部等七部委联合发布了《关于加快提升农业科技创新体系整体效能的实施意 见》，其中明确强调了推进科技产业金融良性循环，强化农业科技领域贷款、知识产权质押融资等政策 力度。 目前，银行金融机构支持农业科技企业的情况到底如何？《中国经营报》记者近期走访了全球最大的鳗 鱼养殖企业——福建天马科技集团股份有限公司（以下简称"天马科技"），详细了解金融赋能农业科技 的情况。 鳗鱼养殖尽显科技含金量 一直以来，鳗鱼都被比作"水中软黄金""水中人参"。前者形容其价格昂贵，后者则表明其营养价值高。 正因如此，在中国食谱中，鳗鱼常常是宴席上的大菜担当。 福建省福清市是中国鳗鱼之乡，海域的自然资源得天独厚，仅鳗鱼年养殖就高达1.5万吨。然而，鳗鱼 在所有的水产品中属于最娇气难养的品种之一，对水质、温度都有严格要求，人类至今甚至都 ...

Summary of Key Points Core Viewpoint The announcement details the progress of external guarantees provided by Tianma Technology Group Co., Ltd. to its subsidiaries and downstream clients, highlighting the total guarantee amounts and the internal decision-making processes involved in these guarantees. Group 1: Guarantee Details - The total amount of guarantees provided by the company includes RMB 11,200 million for a wholly-owned subsidiary and RMB 30,900 million for a controlling subsidiary, with actual guarantees amounting to RMB 119,300.24 million and RMB 88,445.40 million respectively [1][2] - The company has provided guarantees totaling RMB 0 million for downstream clients, with an actual guarantee balance of RMB 11,691 million [1] - The cumulative amount of overdue external guarantees is RMB 0 million, and the total external guarantee amount accounts for a significant percentage of the company's latest audited net assets [1][2] Group 2: Internal Decision-Making Process - The company’s board of directors approved the provision of guarantees for subsidiaries and downstream clients during meetings held on April 14, 2025, and April 30, 2025 [6][7] - The expected guarantee amounts include a total of RMB 4.8 billion for various financing activities, with specific allocations based on the subsidiaries' asset-liability ratios [6][7] - The guarantees are set to be valid for 12 months from the date of approval at the annual shareholders' meeting [7][8] Group 3: Specific Guarantee Contracts - Various contracts have been established for providing guarantees to subsidiaries engaged in aquaculture and feed production, with specific amounts detailed for each subsidiary [2][3][4] - The company has also established maximum guarantee amounts for different subsidiaries based on their asset-liability ratios, ensuring that higher-risk subsidiaries receive appropriate oversight [6][7] - The company has outlined the types of guarantees, including performance guarantees and credit guarantees, to support its subsidiaries and clients in securing financing [7][8]

证券代码：603668 证券简称：天马科技 公告编号：2025-051 福建天马科技集团股份有限公司 关于公司对外担保的进展公告 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。 重要内容提示： 担保对象及基本情况 | | 被担保人名称 | 福建天马科技集团股份有限公司 | | | | --- | --- | --- | --- | --- | | | | （以下简称"公司"或"本公司"） | | | | | | 全资子公司 | | | | 担保对象一 | 本次担保金额 | 11,200.00 万元 | | | | | 实际为其提供的担保余额 | 万元 119,300.24 | | | | | 是否在前期预计额度内 | | 是 □否 | □不适用：_________ | | | 本次担保是否有反担保 | | □是 否 | □不适用：_________ | | 担保对象二 | 被担保人名称 | 公司控股子公司 | | | | | 本次担保金额 | 万元 30,900.00 | | | | | 实际为其提供的担保余额 | 88, ...

Core Viewpoint - The announcement details the share pledge and release situation of the controlling shareholder and actual controller of Tianma Technology Group Co., Ltd., highlighting the current status of share pledges and the financial capabilities of the stakeholders involved [2][4]. Group 1: Shareholding and Pledge Details - The controlling shareholder, Chen Qingtang, holds 96,349,913 shares, accounting for 19.18% of the total share capital. After the recent pledge and release, the total pledged shares amount to 46,670,000, which is 48.44% of his holdings and 9.29% of the total share capital [2]. - Together with his concerted actions, Chen Qingtang and his associates hold 163,368,164 shares, representing 32.52% of the total share capital. The total pledged shares for this group after the recent changes are 61,748,272, which is 37.80% of their holdings and 12.29% of the total share capital [2]. Group 2: Financial Capability and Risk Management - The controlling shareholder and his associates possess adequate financial resources to repay the pledged shares, with funding sources including operational income, personal funds, stock dividends, investment returns, and personal salaries [4]. - The pledge risk is deemed controllable, with no adverse effects on the company's operations, financing credit, financing costs, or ongoing viability. There are no implications for the stability of control, shareholding structure, or daily management of the listed company [5].

证券代码：603668 证券简称：天马科技 公告编号：2025-050 福建天马科技集团股份有限公司 关于控股股东、实际控制人部分股份解除质押及质押的公告 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： | 股东名称 | 陈庆堂 | | | --- | --- | --- | | 本次解除质押股份 | 13,435,070 | 股 | | 占其所持股份比例 | 13.94% | | | 占公司总股本比例 | 2.67% | | | 解除质押时间 | 2025 年 7 | 月 9 日 | | 持股数量 | 96,349,913 | 股 | | 持股比例 | 19.18% | | | 剩余被质押股份数量 | 34,670,000 | 股 | | 剩余被质押股份数量占其所持股份比例 | 35.98% | | | 剩余被质押股份数量占本公司股本比例 | 6.90% | | 一、本次股份解除质押的基本情况 本次解除质押的部分股份用于后续质押，具体情况详见"二、本次股份质押 基本情况"。 二、本次股份质押基本情况 1、本次 ...

Market Overview - The Shanghai Composite Index fell by 0.13% on July 9, with 17 out of the 28 sectors rising, led by Media and Agriculture, Forestry, Animal Husbandry, and Fishery, which increased by 1.35% and 0.65% respectively [2] - The sectors with the largest declines were Non-ferrous Metals and Basic Chemicals, which dropped by 2.26% and 0.85% respectively [2] Capital Flow Analysis - The main capital outflow from the two markets totaled 38.536 billion yuan, with only three sectors experiencing net inflows: Media (1.055 billion yuan), Retail (864 million yuan), and Construction Decoration (40.34 million yuan) [2] - The Electronic sector saw the largest net outflow, amounting to 7.789 billion yuan, followed by Non-ferrous Metals with 5.412 billion yuan [2] Agriculture, Forestry, Animal Husbandry, and Fishery Sector - The Agriculture, Forestry, Animal Husbandry, and Fishery sector rose by 0.65% despite a net capital outflow of 437 million yuan [3] - Out of 103 stocks in this sector, 40 stocks increased, with one hitting the daily limit, while 55 stocks declined [3] - The top three stocks with net inflows were Xinwufeng (31.4665 million yuan), Haida Group (28.3706 million yuan), and Juxing Agriculture (21.9941 million yuan) [3][4] Top Gainers and Losers in Agriculture, Forestry, Animal Husbandry, and Fishery - **Top Gainers**: - Xinwufeng: +0.65%, 4.20% turnover, 31.4665 million yuan inflow [4] - Juxing Agriculture: +0.76%, 4.49% turnover, 21.9941 million yuan inflow [4] - **Top Losers**: - Muyuan Foods: -3.27%, 1.81% turnover, 71.5922 million yuan outflow [5] - Guolian Aquatic Products: -1.76%, 8.74% turnover, 45.2607 million yuan outflow [5]

Group 1 - The company reported a total eel output of approximately 2,553.46 tons in June 2025, with external sales accounting for about 1,896.84 tons and self-use for approximately 656.62 tons [1] - The output specifications for June 2025 primarily ranged from 1P to 4P, with sales prices varying between 57,000 yuan/ton and 87,000 yuan/ton [1] - Cumulatively, from January to June 2025, the company achieved an eel output of approximately 9,502.51 tons, with external sales of about 6,240.34 tons and self-use of around 3,262.17 tons [1] Group 2 - The output specifications are generally categorized by the number of eels per kilogram, referred to as P numbers [2] - The data provided is based on internal statistics and has not been audited, serving only as a reference for investors regarding the company's eel farming operations [4] - The company does not make any commitments or guarantees regarding future operational performance based on this data [4]

证券代码：603668 证券简称：天马科技 公告编号：2025-049 2025 年 1~6 月，公司鳗鱼累计出池约 9,502.51 吨，其中外销约 6,240.34 吨， 自用约 3,262.17 吨，出池规格主要在 1P~4P 之间，销售价格区间为 5.0 万元/吨 ~8.8 万元/吨。 说明：鳗鱼出池规格一般以每公斤的 P 数（尾数）为区分。 上述出池数据未经审计，与定期报告披露的数据之间可能存在差异，因此上 述数据仅作为阶段性数据供投资者参考。 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。 福建天马科技集团股份有限公司（以下简称"公司"）现将 2025 年 6 月鳗 鱼出池情况披露如下： 一、2025 年 6 月鳗鱼出池情况 2025 年 6 月，公司鳗鱼出池约 2,553.46 吨，其中外销约 1,896.84 吨，自用 约 656.62 吨，本月鳗鱼出池规格主要在 1P~4P 之间，销售价格区间为 5.7 万元/ 吨~8.7 万元/吨。 | | 月份 | | 出池量（吨） | 外销数量（吨） | 自用数量（吨） ...

Investment Rating - The report rates the agricultural, forestry, animal husbandry, and fishery industry as "Overweight" due to expected overall profit improvement in the sector [3][4]. Core Insights - The report highlights that the profitability of pig farming is expected to improve, with a stable pig price and a significant increase in average profit per head for self-bred pigs [4]. - Poultry farming shows a mixed outlook, with white chicken prices bottoming out and yellow chicken profitability declining, while egg-laying chicks continue to experience high demand [4]. - The pet food sector is projected to maintain high growth, with leading companies showing strong online sales growth, despite a decline in exports to the U.S. due to tariffs [4]. - Animal health is recovering, with increased demand for vaccines and improved sales of veterinary preparations [4]. - The seed industry faces challenges with declining corn prices and increased competition, leading to pressure on the performance of leading seed companies [4]. Summary by Sections Pig Farming - The average price of pigs in H1 2025 is expected to be 14.80 CNY/kg, a decrease of 4.2% year-on-year, while the average profit for self-bred pigs is projected at 69.04 CNY/head, recovering from a loss of 24.82 CNY/head in H1 2024 [4]. Poultry Farming - White chicken prices are under pressure due to oversupply, with the average price for commodity broiler chicks at 2.4 CNY/bird, down 21% year-on-year. Yellow chicken prices are also declining, with the average price for Qingjiao chicken at 8.9 CNY/kg, down 19% year-on-year [4]. Pet Food - The domestic pet food market is experiencing a growth rate of 17% in online GMV for the first five months of 2025, compared to 14% in the same period of 2024. Leading companies like Guibao Pet and Zhongchong Co. show growth rates of 51% and 26%, respectively [4]. Animal Health - The demand for veterinary vaccines has increased, with a 15.8% year-on-year rise in vaccine approvals in the first five months of 2025. Prices for veterinary preparations like Tylosin and Tiamulin have increased by 39.8% and 9.3%, respectively [4]. Seed Industry - The corn seed market is under pressure due to falling corn prices and high competition, leading to a decline in seed prices and performance expectations for leading seed companies [4].

Core Viewpoint - The announcement details the first exercise period of the 2024 stock option incentive plan for Tianma Technology Group, allowing eligible participants to exercise a total of 3.8632 million stock options starting from July 9, 2025 [1][5][9]. Summary by Sections Incentive Plan Approval and Implementation - The board of directors approved the stock option incentive plan, which includes a total of 123 eligible participants and a total of 3.8632 million stock options available for exercise [1][9]. - The plan underwent necessary decision-making procedures and disclosures, including independent legal and financial opinions [1][4]. Historical Stock Option Granting - The total number of stock options granted was adjusted from 9.2 million to 10.12 million due to changes in the number of eligible participants and the exercise price was set at 13.60 yuan per option [4][5]. - The number of eligible participants was reduced from 155 to 140 due to resignations and other reasons [4][5]. Conditions for the First Exercise Period - The first exercise period is defined as starting from the authorization date (July 9, 2024) and lasting until July 8, 2025, with a maximum exercise ratio of 40% of the total granted options [5][6]. - The company achieved the performance targets necessary for the exercise conditions, including a revenue growth rate of at least 15% compared to the previous year [6][9]. Specifics of the First Exercise - The exercise quantity is set at 3.8632 million options, with an adjusted exercise price of 13.56 yuan per option [5][6]. - The exercise method is self-exercise, and the options will be sourced from the company's directed issuance of A-shares [5][7]. Financial Accounting for Stock Options - The company will use the Black-Scholes model to determine the fair value of the stock options at the grant date and will amortize the related expenses during the waiting period [8][9]. Verification by Committees - The remuneration and assessment committee confirmed that all 123 participants meet the exercise conditions, and the supervisory board also validated the eligibility of the participants [9][10].