Group 1 - The genetically modified (GM) concept sector declined by 2.81%, ranking among the top declines in concept sectors as of the market close on May 22 [1] - Key companies within the GM sector that experienced significant declines include KQ Bio, Jincheng Pharmaceutical, and Batian Agricultural [1] - The GM concept sector saw a net outflow of 171 million yuan in main funds today, with 13 stocks experiencing net outflows, and 6 stocks seeing outflows exceeding 10 million yuan [2] Group 2 - The stock with the highest net outflow was Dabeinong, with a net outflow of 45.6868 million yuan, followed by Jincheng Pharmaceutical and Batian Agricultural with net outflows of 35.9827 million yuan and 21.2855 million yuan, respectively [2] - Other companies with notable net outflows include Qianyuan High-Tech and Nongfa Seed Industry, with outflows of 13.8355 million yuan and 11.1082 million yuan, respectively [2] - Conversely, Shennong Seed Industry and Fengle Seed Industry were among the few stocks with net inflows, receiving 9.7587 million yuan and 0.8193 million yuan, respectively [2]

Investment Rating - The report maintains an "Outperform" rating for the agricultural sector [5] Core Insights - The USDA's May supply and demand report indicates a tightening of global supply for corn, soybeans, and wheat, while beef prices in the U.S. are expected to rise due to reduced supply [5][6] - The report highlights potential investment opportunities in the agricultural sector, particularly in corn and soybean markets, as prices are expected to stabilize and recover from historical lows [5][6] Summary by Relevant Sections Corn - The USDA forecasts a global corn production increase of 43.7 million tons (approximately +3.45%) to 1.26498 billion tons for the 25/26 season, with total usage rising by 24.4 million tons (approximately +1.91%) [16][17] - China's corn production is expected to increase by 80,000 tons (approximately +0.03%) to 295 million tons, with total usage up by 5 million tons (approximately +1.56%) [17] - Domestic corn prices are at historical lows, with strong support expected for price recovery [19] Soybeans - Global soybean production is projected to increase by 5.95 million tons (approximately +1.39%) to 426.82 million tons for the 25/26 season, with total usage up by 13.76 million tons (approximately +3.24%) [31][32] - The report anticipates that soybean prices will remain under pressure in the first half of 2025 due to high supply levels, but long-term trends are expected to improve [34][35] Wheat - Global wheat production is expected to rise by 8.81 million tons (approximately +1.10%) to 80.852 million tons for the 25/26 season, with total usage increasing by 4.38 million tons (approximately +0.55%) [43][44] - The overall supply of wheat remains ample, and prices are expected to stabilize at lower levels [43] Beef - The USDA predicts a significant reduction in U.S. beef supply for 2026, with prices expected to rise by 15.2% in Q2 2025 and 14.1% in Q3 2025 [5][7] - The domestic beef market is expected to see a price increase despite seasonal trends, indicating a potential upward cycle for beef prices [5][7] Pork - U.S. pork production is expected to increase by 1.33% in 2026, with consumption growth slightly outpacing supply [7][8] - Domestic pork prices are projected to decline, but low-cost producers are expected to maintain profitability [7] Poultry - U.S. poultry supply is expected to recover in 2026, with domestic demand in China anticipated to improve [7][8] - The report notes that high pathogenic avian influenza impacts are diminishing, which may support recovery in poultry production [7] Eggs - U.S. egg production is projected to increase by 6% in 2026, with domestic supply expected to remain ample throughout the year [8][9] - The report indicates that egg prices may face downward pressure due to high supply levels [8][9]

Investment Rating - The industry investment rating is "Positive" [4] Core Viewpoints - The USDA supply and demand report indicates that new crop inventories for soybeans and corn are lower than expected, which is favorable for prices [4][6] - Global corn production for the 2024/25 season is estimated at 1.221 billion tons, with significant increases in production from the U.S., Brazil, and Argentina [1][12] - The soybean production forecast for the 2025/26 season is 410 million tons, with Brazil expected to reach a record 175 million tons [2][3][18] - The global wheat production forecast for 2025/26 is 667 million tons, reflecting a 1.0% year-on-year increase, with the EU showing significant growth [4][28] Summary by Sections Corn - The USDA report estimates a global corn production of 1.221 billion tons for 2024/25, with U.S. production increasing by 24.22 million tons due to expanded planting [1][12] - The projected global corn ending stocks for 2025/26 are 95.68 million tons, a 7.4% increase year-on-year, with a low stocks-to-use ratio of 10% [1][12] Soybeans - The global soybean production for 2024/25 is estimated at 421 million tons, with U.S. ending stocks significantly reduced to 295 million bushels [2][3][18] - The forecast for global soybean ending stocks for 2025/26 is 80.47 million tons, a 1.6% increase year-on-year, with a stocks-to-use ratio of 27.6% [3][19] Wheat - The global wheat production for 2025/26 is projected at 667 million tons, with the EU's production expected to increase by 11.4% to 136 million tons [4][28] - The global wheat ending stocks for 2025/26 are estimated at 14.2 million tons, reflecting a 2.5% year-on-year increase, with a stocks-to-use ratio of 21.6% [5][28] Investment Recommendations - In light of increasing global weather extremes and geopolitical tensions affecting grain prices, the report emphasizes the importance of seed source control for national food security [6][36] - Recommended companies include leading seed firms with transgenic advantages such as Longping High-Tech, Dabeinong, and Qianyuan High-Tech, along with suggestions to monitor Kangnong Seed Industry, Denghai Seed Industry, and Fengle Seed Industry [6][36]

4.央行等联合印发《关于金融支持广州南沙深化面向世界的粤港澳全面合作的意见》 近日，中国人民银行、金融监管总局、中国证监会、国家外汇局、广东省人民政府联合印发《关于金融 支持广州南沙深化面向世界的粤港澳全面合作的意见》（以下简称《意见》）。《意见》从完善创新创 业金融服务、加强社会民生领域金融服务、发展特色金融服务、推进粤港澳金融市场互联互通、开展跨 境金融创新与交流、完善金融监管机制等方面提出30条重点举措，推动广州南沙在粤港澳大湾区"新发 展格局战略支点、高质量发展示范地、中国式现代化引领地"建设中更好发挥引领带动作用。 5.广东发布《金融支持促消费扩内需专项行动方案》 重要的消息有哪些 1.中美日内瓦经贸会谈联合声明 双方承诺将于2025年5月14日前采取以下举措：美国将（一）修改2025年4月2日第14257号行政令中规定 的对中国商品（包括香港特别行政区和澳门特别行政区商品）加征的从价关税，其中，24%的关税在初 始的90天内暂停实施，同时保留按该行政令的规定对这些商品加征剩余10%的关税；（二）取消根据 2025年4月8日第14259号行政令和2025年4月9日第14266号行政令对这些商品的加征 ...

股票代码：000713 股票简称：丰乐种业 编号： 2025-026 合肥丰乐种业股份有限公司 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 合肥丰乐种业股份有限公司（以下简称"公司"）2024年年度权 益分派方案已获2025年4月1日召开的2024年年度股东大会审议通过， 现将权益分派事宜公告如下： 一、股东大会审议通过利润分配方案情况 过了《关于2024年度利润分配预案》，方案具体内容为：以2024年12 月31日的总股本614,014,980 股为基数，向全体股东每10股派发现金 红利0.20元（含税），合计派发现金红利12,280,299.60元（含税）。 告已于2025年4月2日刊登在《证券时报》《证券日报》及巨潮资讯网 （www.cninfo.com.cn）上。 将以最新股本总额为利润分配的股本基数，并按照"每股分配金额不 变"的原则，相应调整分配总额。自分配方案披露至实施期间，公司 股本总额未发生变化。 分配方案一致。 月。 二、本次实施的权益分派方案 本 公 司 2024 年 年 度 权 益 分 派 方 案 为 ： 以 公 司 现 有 总 股 ...

股票代码：000713 股票简称：丰乐种业 编号： 2025-026 合肥丰乐种业股份有限公司 2024 年年度权益分派实施公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 合肥丰乐种业股份有限公司（以下简称"公司"）2024年年度权 益分派方案已获2025年4月1日召开的2024年年度股东大会审议通过， 现将权益分派事宜公告如下： 1、2025年4月1日公司召开了2024年年度股东大会，会议审议通 过了《关于2024年度利润分配预案》，方案具体内容为：以2024年12 月31日的总股本614,014,980 股为基数，向全体股东每10股派发现金 红利0.20元（含税），合计派发现金红利12,280,299.60元（含税）。 2024年度不送红股，不进行资本公积转增股本。本次股东大会决议公 告已于2025年4月2日刊登在《证券时报》《证券日报》及巨潮资讯网 （www.cninfo.com.cn）上。 2、自分配方案披露至实施期间，若公司股本发生变动的，公司 将以最新股本总额为利润分配的股本基数，并按照"每股分配金额不 变"的原则，相应调整分配总额。自分配方 ...

Sales Performance - In the 2024-2025 operating year, the company achieved corn seed sales of over 30 million kilograms, with "Tie 391" and "Tie 391K" accounting for over 11 million kilograms [2] - The main promoted corn varieties in Northeast and Northwest regions are "Tie 391" and "Tie 391K," while "Fengle 520" leads the green high-resistance series in the Huang-Huai-Hai market [2][3] - The sales of "Fengle 520" reached over 4 million kilograms in the 2024-2025 operating year [3] Inventory and Production - As of the end of Q1 2025, inventory was 937 million RMB, a year-on-year increase of 264 million RMB from 673 million RMB in Q1 2024, primarily due to increased corn seed inventory [3] - The company expects to reduce the seed production area in 2025 based on market inventory assessments [3] Financial Strategy - The company plans to raise a total of no more than 1,088.6486 million RMB through a private placement, which will be used to supplement working capital and repay bank loans [3] - This fundraising is aimed at optimizing the asset-liability structure and enhancing financial strength for high-quality R&D and operational development [3] Agricultural and Chemical Business - In 2025, the company will increase R&D investment in the agricultural chemical sector, focusing on green and low-residue pesticides and bio-pesticides [4] - The strategy includes upgrading production lines and exploring new crop solutions to seek new economic growth points [4] Spice Business Development - The spice industry will focus on product differentiation and market strategies, aiming to solidify the market position of natural menthol and menthol oil [4] - The company plans to cultivate potential products like peppermint oil and develop 2-3 core products, while also preparing for market entry of new products [4]

截至5月12日收盘，转基因概念下跌0.77%，位居概念板块跌幅榜前列，板块内，神农种业、荃银高 科、敦煌种业等跌幅居前，股价上涨的有4只，涨幅居前的有芭田股份、新安股份、科前生物等，分别 上涨3.20%、1.95%、1.83%。 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（%） | | --- | --- | --- | --- | | 中船系 | 6.55 | 重组蛋白 | -0.94 | | 成飞概念 | 5.77 | 代糖概念 | -0.82 | | 军工信息化 | 4.28 | 转基因 | -0.77 | | 同花顺果指数 | 4.17 | 创新药 | -0.60 | | 国产航母 | 3.73 | 粮食概念 | -0.60 | | 军民融合 | 3.69 | 玉米 | -0.59 | | 航空发动机 | 3.42 | 大豆 | -0.45 | | 人形机器人 | 3.20 | 农业种植 | -0.31 | | 减速器 | 3.20 | 生物质能发电 | -0.28 | | 军工 | 3.15 | 减肥药 | -0.24 | 资金面上看，今日转基因概念板块获主力 ...

Group 1 - The corn concept sector experienced a decline of 1.00%, ranking among the top declines in the concept sector, with leading decliners including Fengle Seed Industry, Jindan Technology, and Qianyuan High-Tech [1][2] - Among the stocks in the corn concept sector, six stocks saw price increases, with Guangyu Group, Fucheng Co., and Yantang Dairy leading the gains at 4.32%, 1.71%, and 0.92% respectively [1][2] - The corn concept sector saw a net outflow of 303 million yuan from main funds today, with 22 stocks experiencing net outflows, and 13 stocks seeing outflows exceeding 10 million yuan [2][3] Group 2 - The stock with the highest net outflow was Jinjian Rice Industry, with a net outflow of 48.06 million yuan, followed by Jindan Technology, Xinghu Technology, and Qianyuan High-Tech with net outflows of 34.74 million yuan, 29.16 million yuan, and 28.98 million yuan respectively [2][3] - The stocks with the highest net inflows included Guangyu Group, Yuntu Holdings, and Longping High-Tech, with net inflows of 10.64 million yuan, 8.37 million yuan, and 7.01 million yuan respectively [2][3] - The corn concept sector's performance was contrasted by other sectors, such as the Chengfei concept which rose by 7.01%, and the soybean sector which fell by 1.62% [2]

Group 1 - The genetically modified (GM) concept sector declined by 1.12%, ranking among the top declines in concept sectors, with leading decliners including Fengle Seed Industry, Qianyuan High-Tech, and Wanxiang DeNong [1][2] - Among the GM concept stocks, only four experienced price increases, with Ba Tian Co., Qian Qian Bio, and Top Cloud Agriculture rising by 2.16%, 1.92%, and 1.85% respectively [1][2] - The GM concept sector saw a net outflow of 123 million yuan from main funds today, with 11 stocks experiencing net outflows, and six stocks seeing outflows exceeding 10 million yuan [2] Group 2 - The stock with the highest net outflow was Qianyuan High-Tech, with a net outflow of 28.98 million yuan, followed by Fengle Seed Industry, Dabeinong, and Shennong Seed Industry with net outflows of 25.65 million yuan, 22.57 million yuan, and 18.05 million yuan respectively [2][3] - The stocks with the highest net inflows included Top Cloud Agriculture, Longping High-Tech, and Ba Tian Co., with net inflows of 7.65 million yuan, 7.01 million yuan, and 2.32 million yuan respectively [3]