Core Viewpoint - The company demonstrates strong profitability resilience in the first three quarters of 2025, with significant contributions from its breeding business despite a challenging market environment for pork prices [1][2]. Financial Performance - In the first three quarters of 2025, the company achieved an operating revenue of approximately 3.67 billion and a net profit attributable to shareholders of about 298 million [1]. - As of the end of the third quarter of 2025, the company's debt-to-asset ratio was 59.2%, a decrease of 1.05% from the end of the previous year, primarily consisting of interest-free liabilities [2]. Business Segments - The breeding business contributed 2.90 billion in operating revenue and 308 million in net profit, showcasing a robust risk resistance capability through a self-breeding and self-raising model [1]. - The company focuses on high-price advantage regions in Guangdong and Hainan, where pork consumption demand is strong and price competitiveness is leading nationwide [1]. - The IP business has accelerated its light asset advantages, completing a full-chain core industry chain covering IP artworks, trendy toys, furniture, and 3C products, laying a solid foundation for future professional IP incubation and operational platforms [1]. Synergy and Future Outlook - The company anticipates that the synergy among its various businesses will gradually become evident, with the breeding business providing stable cash flow to support the incubation of the IP business and the winding down of real estate operations [2]. - The IP business is expected to open new growth avenues, while the real estate business's inventory digestion and land compensation will further enhance cash flow, creating a virtuous cycle [2].

Group 1: Company Performance - In the first three quarters of 2025, the company achieved an operating income of approximately CNY 3.67 billion and a net profit attributable to shareholders of about CNY 298 million [2] - The livestock segment generated approximately CNY 2.90 billion in revenue and a net profit of around CNY 308 million during the same period [2] - The company's production operations are stable, with a focus on cost reduction and improving production performance in the pig farming business [2] Group 2: Business Models and Strategies - The pig farming business primarily adopts a self-breeding and self-raising model, which has strong risk resistance despite the current low pig price market [2] - The IP business is being developed through a light asset model, with plans to complete the core industry chain by the end of the year [3] - The real estate business is currently focused on selling existing inventory, with recent improvements in property sales positively impacting cash flow [2] Group 3: Financial Health - As of the end of Q3 2025, the company's debt-to-asset ratio was 59.2%, a decrease of 1.05% from the end of the previous year [3] - The company maintains a positive cash flow from its livestock operations, which supports healthy financial development [3] Group 4: Shareholder Relations - The controlling shareholder holds a significant stake of 52.82% as of November 22, 2025, and plans to continue supporting the company's development [2] - The recent share reduction plan by the controlling shareholder is based on personal funding needs and does not affect the stability of company control [2] - According to new regulations, the buyer of shares from a major shareholder through block trading cannot sell those shares within six months [3]

截至11月25日收盘，猪肉概念下跌0.03%，位居概念板块跌幅榜前列，板块内，京基智农跌停，海大集 团、天康生物、克明食品等跌幅居前，股价上涨的有21只，涨幅居前的有罗牛山、天域生物、得利斯 等，分别上涨4.60%、2.63%、1.77%。 今日涨跌幅居前的概念板块 | 概念 | 今日涨跌幅（%） | 概念 | 今日涨跌幅（%） | | --- | --- | --- | --- | | F5G概念 | 4.52 | 中船系 | -0.95 | | 共封装光学(CPO) | 3.62 | 兵装重组概念 | -0.36 | | 光纤概念 | 3.61 | 养鸡 | -0.36 | | 金属铅 | 3.17 | 国产航母 | -0.32 | | 海南自贸区 | 3.13 | 猪肉 | -0.03 | | 金属锌 | 3.07 | 中韩自贸区 | 0.09 | | 赛马概念 | 2.98 | 可燃冰 | 0.13 | | WiFi 6 | 2.84 | 预制菜 | 0.14 | | 铜缆高速连接 | 2.83 | 同花顺中特估100 | 0.15 | | 福建自贸区 | 2.82 | 超级品牌 | 0.16 | 资 ...

Core Insights - The poultry sector experienced a decline of 0.36% as of the market close on November 25, with major stocks like Jingji Zhinnong hitting the limit down, while stocks such as Luoniushan and Minhe Shares saw gains of 4.60% and 1.10% respectively [1][2] Market Performance - The poultry concept ranked among the top decliners in the market, with Jingji Zhinnong leading the losses at -10.03% and a net outflow of 1.23 billion yuan in main funds [1] - Other notable decliners included Tianma Technology and Lihua Shares, with net outflows of 3017.17 million yuan and 2044.02 million yuan respectively [1] Fund Flow Analysis - The poultry sector saw a net outflow of 1.22 billion yuan today, with 13 stocks experiencing outflows, and 5 stocks seeing outflows exceeding 10 million yuan [1] - The stocks with the highest net inflows included Luoniushan, Jinlongyu, and Huaying Agriculture, with inflows of 5444.90 million yuan, 2111.88 million yuan, and 2011.22 million yuan respectively [1][2] Stock Performance - Among the top gainers in the poultry sector, Luoniushan led with a rise of 4.60%, followed by Minhe Shares and Xiaoming Shares with increases of 1.10% and 1.08% respectively [1] - Conversely, stocks like Jingji Zhinnong and Tianma Technology faced significant declines, impacting overall sector performance [1][2]

Market Performance - The A-share market experienced a rebound on November 25, with the Shanghai Composite Index rising by 0.87%, the Shenzhen Component Index increasing by 1.53%, and the ChiNext Index gaining 1.77% [2] - The total trading volume in the Shanghai and Shenzhen markets reached 1.81 trillion yuan, an increase of 84.4 billion yuan compared to the previous trading day, with nearly 4,300 stocks rising [4] Sector Performance - The communication equipment, gaming, precious metals, and lithium battery sectors showed significant gains, while the shipping and aquaculture sectors performed poorly [2] - The gaming sector was particularly active, with stocks like Giant Network, Century Huatong, and Kunlun Wanwei seeing notable increases [2][3] Individual Stock Highlights - Notable gainers included: - Fuchun Co., Ltd. (+14.34%) - Giant Network (+9.99%) - Century Huatong (+7.19%) - Kunlun Wanwei (+5.86%) [3] - Conversely, the aquaculture sector faced declines, with stocks like Guolian Aquatic (-10.51%) and Jingji Agricultural (-10.03%) hitting their daily limit down [4] Capital Flow - Main capital inflows were observed in the communication, electronics, and semiconductor sectors, while outflows were noted in media, shipbuilding, and securities sectors [6] - Specific stocks with significant net inflows included: - Sunshine Power (+1.058 billion yuan) - Huhua Electric (+973 million yuan) - Yingweike (+946 million yuan) [7] - Stocks facing net outflows included: - BlueFocus (-1.175 billion yuan) - Shenguang Group (-867 million yuan) - Industrial Fulian (-867 million yuan) [8] Analyst Insights - Galaxy Securities noted that the current A-share valuation is relatively reasonable and still at a medium to low level compared to major global equity markets, with earnings expected to become a key focus in 2026 [9] - Huasheng Securities indicated that the growth sector has seen continuous adjustments, leading to more reasonable valuations, while the adjustment momentum is weakening [10]

Market Overview - The A-share market experienced a rebound on November 25, with the Shanghai Composite Index rising by 0.87%, the Shenzhen Component Index increasing by 1.53%, and the ChiNext Index gaining 1.77% [3][4]. Sector Performance - The communication equipment, gaming, precious metals, and lithium battery sectors showed significant gains, while the shipping and aquaculture sectors performed poorly [4]. - The gaming sector was particularly active, with stocks like Giant Network hitting the upper limit, and Century Huatong, Kunlun Wanwei, and Fuchun Co. also showing notable increases [5]. Notable Stocks - Key stocks in the gaming sector included: - Fuchun Co.: +14.34% [6] - Giant Network: +9.99% [6] - Century Huatong: +7.19% [6] - Kunlun Wanwei: +5.86% [6] - In contrast, the aquaculture sector saw declines, with stocks like Guolian Aquatic (-10.51%) and Jingji Zhino (-10.03%) hitting the lower limit [7]. Trading Volume - The total trading volume in the Shanghai and Shenzhen markets reached 1.81 trillion yuan, an increase of 84.4 billion yuan compared to the previous trading day, with nearly 4,300 stocks rising [8]. Capital Flow - Main capital inflows were observed in the communication, electronics, and semiconductor sectors, while media, shipbuilding, and securities sectors experienced net outflows [10]. - Notable net inflows included: - Sunshine Power: 1.058 billion yuan [10] - Huhua Electric: 973 million yuan [10] - Yingweike: 946 million yuan [10] - Conversely, BlueFocus and other companies faced significant sell-offs [10]. Institutional Insights - Galaxy Securities noted that the current A-share valuation is relatively reasonable, with expectations for earnings to become a focal point in 2026, potentially driving upward momentum in the market [12]. - Huashang Securities indicated that growth sectors have seen recent adjustments, leading to more reasonable valuations, with a reduction in adjustment momentum [12]. - Huatai Securities suggested that the market has established a preliminary support level, with expectations for improved overseas liquidity and reduced domestic funding pressure, leading to a healthier market environment [12].

登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：000048 证券简称：京基智农公告编号：2025-063 深圳市京基智农时代股份有限公司关于控股股东减持股份超过1%的公告 本公司控股股东京基集团有限公司保证向本公司提供的信息内容真实、准确、完整，没有虚假记载、误 导性陈述或重大遗漏。 本公司及董事会全体成员保证公告内容与信息披露义务人提供的信息一致。 深圳市京基智农时代股份有限公司（以下简称"公司"）于2025年10月28日披露了《关于控股股东减持股 份的预披露公告》（公告编号：2025-057）。持有公司股份119,457,233股（占公司总股本比例23.02%） 的控股股东京基集团有限公司（以下简称"京基集团"）计划在前述公告披露之日起十五个交易日后的三 个月内（即2025年11月19日至2026年2月18日），以大宗交易方式减持公司股份不超过10,379,309股（即 不超过公司总股本比例2.00%），以集中竞价方式减持公司股份不超过5,189,654股（即不超过公司总股 本比例1.00%），合计减持公司股份不超过15,568,963股（即不超过公司总股本比例3.00%）。 截至本公告披露 ...

京基智农公告，控股股东京基集团于2025年11月21日通过大宗交易减持股份150万股，占总股本 0.29%；其及一致行动人持股降至2.74亿股，比例降至52.82%。减持计划期为2025年11月19日至2026年2 月18日，包括大宗交易不超1037.93万股(2.00%)、集中竞价不超518.97万股(1.00%)，合计不超1556.9万 股(3.00%)。 ...

证券代码：000048 证券简称：京基智农 公告编号：2025-063 深圳市京基智农时代股份有限公司（以下简称"公司"）于 2025 年 10 月 28 日披露了《关于控股股东减持股份的预披露公告》（公告编号：2025-057）。 持有公司股份 119,457,233 股（占公司总股本比例 23.02%）的控股股东京基集团 有限公司（以下简称"京基集团"）计划在前述公告披露之日起十五个交易日后 的三个月内（即 2025 年 11 月 19 日至 2026 年 2 月 18 日），以大宗交易方式减 持公司股份不超过 10,379,309 股（即不超过公司总股本比例 2.00%），以集中竞 价方式减持公司股份不超过 5,189,654 股（即不超过公司总股本比例 1.00%）， 合计减持公司股份不超过 15,568,963 股（即不超过公司总股本比例 3.00%）。 深圳市京基智农时代股份有限公司 关于控股股东减持股份超过 1%的公告 本公司控股股东京基集团有限公司保证向本公司提供的信息内容真实、准确、 完整，没有虚假记载、误导性陈述或重大遗漏。 本公司及董事会全体成员保证公告内容与信息披露义务人提供的信息一致 ...

11月21日，京基智农收跌1.68%，收盘价为15.83元，发生1笔大宗交易，合计成交量150万股，成交金额 2245.5万元。 第1笔成交价格为14.97元，成交150.00万股，成交金额2,245.50万元，溢价率为-5.43%，买方营业部为浙 商证券股份有限公司四川分公司，卖方营业部为中国中金财富证券有限公司深圳分公司。 责任编辑：小浪快报 进一步统计，近3个月内该股累计发生2笔大宗交易，合计成交金额为3708.46万元。该股近5个交易日累 计下跌2.70%，主力资金合计净流入4517.35万元。 ...