证券代码：605296 证券简称：神农集团 公告编号：2025-115 云南神农农业产业集团股份有限公司 关于以集中竞价交易方式回购公司股份的进展公告 一、回购股份的基本情况 云南神农农业产业集团股份有限公司（以下简称"公司"）分别于 2024 年 10 月 28 日召开第四届董事会第二十四次会议、2024 年 11 月 15 日召开 2024 年第四 次临时股东会会议，审议通过了《关于以集中竞价交易方式回购股份方案的议案》， 同意公司使用自有资金或自筹资金，以集中竞价交易方式回购公司股份，回购的 资金总额不低于人民币 10,000 万元（含）且不超过人民币 20,000 万元（含），回 购价格不超过人民币 42.55 元/股，回购期限为自本次回购方案经公司股东会审议 通过之日起不超过 12 个月，即 2024 年 11 月 16 日至 2025 年 11 月 15 日。本次回 购的股份将全部用于公司员工持股计划或股权激励计划。具体内容详见公司于 2024 年 11 月 22 日披露在上海证券交易所网站（www.sse.com.cn）的《公司关于 以集中竞价交易方式回购股份的回购报告书及获得股份回购资金贷款支 ...

2025年1-9月，公司共销售生猪210.96万头（其中：商品猪181.52万头，仔猪销售25.15万头），销售收 入34.80亿元。其中向集团内部屠宰企业销售生猪34.12万头。 格隆汇10月9日丨神农集团(605296.SH)公布，2025年9月份，公司销售生猪22.90万头（其中：商品猪销 售21.38万头，仔猪销售0.89万头），销售收入3.64亿元。其中向集团内部屠宰企业销售生猪4.98万头。 2025年9月份，公司商品猪价格呈现下降趋势，商品猪销售均价12.82元/公斤，比2025年8月份下降 7.57%。 ...

云南神农农业产业集团股份有限公司 证券代码：605296 证券简称：神农集团 公告编号：2025-116 2025 年 9 月养殖业务主要经营数据公告 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。 云南神农农业产业集团股份有限公司（以下简称"公司"）现将 2025 年 9 月养殖业务主要经营数据披露如下： 一、2025 年 9 月养殖业务主要经营数据 单位：万头 | 主要产品 | 销售量 | | 销售量同比增减(%) | | | --- | --- | --- | --- | --- | | | 当月 | 累计 | 当月 | 累计 | | 生猪 | 22.90 | 210.96 | 15.02 | 26.80 | 2025 年 9 月份，公司销售生猪 22.90 万头（其中：商品猪销售 21.38 万头， 仔猪销售 0.89 万头），销售收入 3.64 亿元。其中向集团内部屠宰企业销售生猪 4.98 万头。 2025 年 9 月份，公司商品猪价格呈现下降趋势，商品猪销售均价 12.82 元/ 公斤，比 2025 年 8 月份 ...

Core Insights - Shennong Group reported a total sale of 229,000 pigs in September, with 213,800 being market pigs and 8,900 being piglets, generating a revenue of 364 million yuan [1] - The average selling price of market pigs in September was 12.82 yuan per kilogram, reflecting a decrease of 7.57% compared to August 2025 [1] - From January to September 2025, the company sold a total of 2.1096 million pigs, including 1.8152 million market pigs and 251,500 piglets, with total revenue reaching 3.48 billion yuan [1] Sales Performance - In September, the company sold 229,000 pigs, with market pigs accounting for the majority of sales [1] - The revenue generated from pig sales in September was 364 million yuan [1] - Year-to-date sales from January to September totaled 2.1096 million pigs, indicating a strong performance in the first three quarters of 2025 [1] Price Trends - The average price for market pigs decreased to 12.82 yuan per kilogram in September, marking a significant decline from the previous month [1] - The 7.57% drop in market pig prices may impact future revenue and sales strategies [1]

格隆汇10月9日丨神农集团(605296.SH)公布，截至2025年9月30日，公司本次回购已累计回购股份658.06 万股，占公司当前总股本的比例为1.25%，已支付的总金额为1.8亿元（不含印花税、交易佣金等交易费 用）。 ...

| 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 002321 | 华英农业 | 2.88 | -3.03% | 52.54万 | 1.52亿 | | 002299 | 圣农发展 | 17.69 | -1.89% | 18.96万 | 3.32 Z | | 000735 | 罗牛山 | 6.28 | -1.72% | 27.74万 | 1.74亿 | | 603477 | 巨星农牧 | 19.97 | -1.58% | 16.91万 | 3.36亿 | | 002458 | 益生股份 | 8.56 | -1.27% | 8.93万 | 7627.60万 | | 002124 | 天邦食品 | 2.89 | -1.03% | 52.27万 | 1.50亿 | | 001201 | 东瑞股份 | 15.76 | -1.01% | 3.75万 | 5871.01万 | | 002234 | 民和股份 | 8.39 | -0.59% | 4.30万 | 3583.96万 | | 301116 | 益客食品 ...

Investment Rating - The report maintains an "Overweight" rating for the agricultural sector, indicating that it is expected to outperform the overall market [2][4]. Core Insights - The report highlights a significant decline in pig prices during the National Day holiday, leading to losses in both piglet and fat pig farming, and emphasizes the importance of monitoring the capacity reduction process in the industry [1][3]. - The report suggests that the pig farming industry is entering a phase of accelerated capacity reduction due to losses and policy-driven "anti-involution" measures, marking the end of the current pig cycle [3][4]. - It identifies potential investment opportunities in leading pig farming companies, which are expected to undergo a value reassessment due to improved long-term profitability and shareholder returns [3][4]. Summary by Sections Market Performance - The Shenwan Agricultural, Forestry, Animal Husbandry, and Fishery Index rose by 0.2%, while the CSI 300 increased by 2.0% [3][4]. - Top-performing stocks included Hualv Biological (+6.0%) and Honghui Fruits and Vegetables (+4.1%) [4][11]. Pig Farming - The average price of external three yuan pigs was reported at 11.61 yuan/kg as of October 8, down 0.67 yuan/kg from the previous week, indicating a significant price drop [3][12]. - The average cost of self-breeding pig farming is estimated between 12.5-13.0 yuan/kg, leading to widespread losses across the industry [3][12]. - The price of weaned piglets fell to 236 yuan/head, a decrease of 23 yuan/week, marking a new low for the year [3][13]. Chicken Farming - The white feather broiler market showed signs of price recovery, with the average selling price of broiler chicks at 3.27 yuan/chick, up 5.48% week-on-week [3][16]. - The yellow feather chicken market experienced a slight decline in prices, with the average price at 5.16 yuan/jin, down 9% week-on-week [3][16]. Pet Food Market - Online sales of pet food reached approximately 2.4 billion yuan in August, reflecting an 11% year-on-year increase [3][4]. - Notable companies in the pet food sector, such as Guibao Pet and Zhongchong Co., reported significant growth in sales [3][4]. Investment Recommendations - The report recommends focusing on leading companies in the pig farming sector, including Muyuan Foods, DeKang Agriculture, and Wens Foodstuffs, as they are expected to benefit from the ongoing capacity reduction and value reassessment [3][4].

证券代码：605296 证券简称：神农集团 公告编号：2025-114 云南神农农业产业集团股份有限公司 关于股份性质变更暨 2025 年限制性股票激励计划 首次授予的进展公告 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。 云南神农农业产业集团股份有限公司（以下简称"公司"）《2025 年限制性 股票激励计划（草案）》（以下简称"《激励计划（草案）》"或"本激励计划"） 规定的限制性股票首次授予条件已经成就，根据公司 2025 年第三次临时股东会 授权，公司于 2025 年 8 月 26 日召开第五届董事会第四次会议及第五届监事会第 四次会议，审议通过了《关于向 2025 年限制性股票激励计划激励对象首次授予 限制性股票的议案》，同意确认以 2025 年 8 月 27 日作为首次授予日，向符合首 次授予条件的 419 名激励对象授予 680 万股限制性股票，首次授予价格为 17.35 元/股，具体内容详见公司于上海证券交易所网站(www.sse.com.cn)发布的相关 公告。 目前本激励计划的首次授予激励对象已完成缴款，共 ...

Investment Rating - The report maintains a "Positive" investment rating for the agriculture industry [5] Core Viewpoints - The pig farming sector is expected to see a long-term performance improvement due to ongoing capacity reduction driven by both policy and market forces, with key companies continuing to show profitability and increasing dividend rates [3][46] - The current prices for fat pigs and piglets have dropped significantly, leading to widespread losses in the industry, which may trigger a market-driven capacity reduction [3][12] - The planting sector is showing positive fundamentals with an established upward trend in grain prices, highlighting significant investment opportunities [3][46] Summary by Relevant Sections Industry Fundamentals - Pig prices continue to decline, with the average price for fat pigs at 12.45 yuan/kg, down 1.81% week-on-week, and piglet prices at 21.29 yuan/kg, down 4.81% week-on-week [12][54] - The average weight of pigs at slaughter is stabilizing, but the pressure from capacity release continues, leading to a sustained decline in prices [12] Investment Recommendations - The report recommends focusing on the pig farming sector, highlighting companies such as Muyuan Foods (002714) and Wens Foodstuff Group (300498) as key investment targets [3][46] - For the post-cycle sector, rising pig inventory is expected to boost demand for feed and animal health products, with companies like Haida Group (002311) and Reap Bio (300119) identified as potential beneficiaries [3][46] - In the planting chain, companies like Suqian Agricultural Development (601952) and Beidahuang (600598) are noted for their favorable investment outlook due to rising grain prices [3][46] - The pet food sector is also highlighted for its growth potential, with companies like Guibao Pet (301498) and Zhongchong Co. (002891) recommended for investment [3][46] Market Performance - The agriculture sector underperformed the market, with the agricultural index down 1.97% during the week, compared to a 0.21% increase in the Shanghai Composite Index [48][49] - Key sub-sectors such as feed, animal health, and livestock farming all experienced declines, with livestock farming down 2.14% [48]

Investment Rating - The report suggests a positive outlook for the pig farming industry, indicating a shift towards stable and high-quality development, with a recommendation to focus on leading pig farming companies that demonstrate good performance and dividend payouts [6][5]. Core Insights - The pig farming industry is entering a new phase characterized by improved profitability and stability, driven by effective cost management and policy support for capacity reduction. The report emphasizes the importance of recognizing the strength of current policies aimed at reducing production capacity [6][5]. - In the first half of 2025, the pig farming sector saw a significant increase in supply, with a slight decline in pig prices year-on-year. However, listed companies in the sector reported substantial revenue growth and profit increases, primarily due to volume-driven strategies [6][21]. - The report highlights that the current profitability cycle in the pig farming industry is expected to be prolonged, with conservative market expectations and limited capacity expansion. The anticipated supply pressure may lead to continued losses for some farming operations [6][5]. Summary by Sections 1. Overview of the Pig Farming Industry in H1 2025 - The average price of pigs in H1 2025 was 14.80 yuan/kg, reflecting a year-on-year decrease of 4.21%. The supply of pigs increased due to higher production efficiency and a growing number of breeding sows [10][11]. - The slaughter volume from designated slaughterhouses increased significantly, with a year-on-year rise of 21.4% in Q2 2025, indicating stable demand despite price fluctuations [11][12]. 2. Performance Review of Listed Pig Farming Companies - In H1 2025, the total revenue of listed pig farming companies reached 201.9 billion yuan, a year-on-year increase of 17.9%, while net profit surged by 865.5% to 15.9 billion yuan [21][22]. - The leading companies, such as Muyuan Foods and Wen's Foodstuffs, reported substantial increases in both revenue and profit, with Muyuan achieving a 45% increase in the number of pigs slaughtered [27][26]. 3. Industry Outlook under the "Anti-Internal Competition" Policy - The report anticipates that the policy measures aimed at reducing production capacity will accelerate the pace of capacity reduction in the industry, with plans to cut 1 million breeding sows within six months [6][5]. - The industry is expected to transition towards a more stable and high-quality development phase, with improved profitability and cash flow for leading companies [6][5]. 4. Investment Analysis - The report suggests that investors should focus on companies with strong performance and reliable dividend payouts, as these firms are likely to experience a reassessment of their value in the market [6][5]. - The report indicates that the current cycle of profitability in the pig farming industry is expected to last longer than anticipated, with limited capacity expansion and ongoing supply pressures [6][5].