新希望10月9日公告，公司2025年9月销售生猪139.42万头，环比变动4.22%，同比变动16.92%。收入 17.46亿元，环比变动1.39%，同比变动-23.82%。商品猪销售均价12.89元/公斤，环比变动-4.80%，同比 变动-31.47%。 ...

Group 1 - Dongfang Caifu announced that shareholders plan to transfer a total of 237.8 million shares at a price of 24.40 yuan per share, with 32 institutional investors participating in the bidding [1] - Laofengxiang's subsidiary plans to invest 24 million USD to acquire a 20% stake in Maybach Luxury Goods Asia Pacific, becoming the second-largest shareholder [1] - Saito Bio's subsidiary received a CEP certificate for Dexamethasone Sodium Phosphate, allowing it to sell in international markets [2] Group 2 - Jianglong Shipbuilding is expected to win a bid for a 600-ton fishery enforcement vessel project worth 72.99 million yuan, accounting for 4.22% of its audited revenue for 2024 [3] - Shikong Technology is planning to acquire control of Shenzhen Jiahe Jinwei Electronic Technology Co., Ltd., with stock trading suspended for up to 5 trading days [4] - Mould Technology's controlling shareholder plans to reduce its stake by up to 1% due to funding needs [5] Group 3 - Guokong Electronics expects a net profit increase of 64.72% to 80.17% for the first three quarters of 2025, with projected revenue of 340 million to 370 million yuan [7] - Beimo High-Tech anticipates a net profit increase of 50% to 60% for the same period, with a projected net profit of 125 million to 133 million yuan [8] - ST Haofeng's controlling shareholder has transferred 15.0046% of shares to Zhixin Network at a price of 6 yuan per share, totaling 331 million yuan [9] Group 4 - ST Changyuan's major shareholder plans to reduce its stake by up to 3% within 90 days due to risk management [11] - Runze Technology's shareholder plans to reduce its stake by up to 1% due to personal funding needs [12] - Limin Co. expects a net profit increase of 649.71% to 669.25% for the first three quarters of 2025, with a projected net profit of 384 million to 394 million yuan [14] Group 5 - Kanda New Materials received a government subsidy of 10.05 million yuan, accounting for 4.08% of its latest audited net profit [15] - Keheng Co.'s shareholder plans to reduce its stake by up to 1% due to personal funding needs [16] - New Hope reported a September sales revenue of 1.746 billion yuan from 1.3942 million pigs sold, with a year-on-year decline of 23.82% [18] Group 6 - Wan'an Technology plans to invest 150 million yuan to establish a joint venture in Wuhan for automotive chassis systems [19] - Wan'an Technology also intends to acquire a 40% stake in Fuao Wan'an for 26.22 million yuan, aiming for full ownership [19] - Kuai Ke Electronics' controlling shareholder plans to transfer 4% of the company's shares through an inquiry [20] Group 7 - Changan Automobile's joint venture Avita Technology has completed payment of 3.45 billion yuan for a 10% stake in Huawei's Yiwang [21]

（企业公告） 10月9日，新希望发布公告称，公司 2025年9月销售生猪139.42万头，环比变动4.22%，同比变动 16.92%。收入17.46亿元，环比变动1.39%，同比变动-23.82%。商品猪销售均价12.89元/公斤，环比变 动-4.80%，同比变动-31.47%，销售价格同比降幅较大主要是受国内生猪市场行情变化的影响。上述数 据均未经审计，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。 ...

Core Insights - Continuous capital inflow into the livestock sector, with the Livestock ETF (159865) seeing over 800 million yuan in net inflows in the last 10 trading days [1] - Major pig companies, including Muyuan Foods, New Hope, and Wens Foodstuff, reported year-on-year sales growth for September 2025, although there were mixed results on a month-on-month basis [1] - The industry is experiencing a policy-driven reduction in hog output, while seasonal demand remains weak, leading to a downward trend in pork prices [1] Industry Overview - The Livestock ETF (159865) tracks the China Securities Livestock Breeding Index, with approximately 60% exposure to "pigs," presenting potential investment opportunities for interested investors [1] - According to招商证券, the seasonal decline in piglet sales is noted, and the policy adjustments aimed at boosting the Consumer Price Index (CPI) may elevate the price center for pork in 2026 [1] - The cash flow of low-cost pig companies is expected to improve significantly, enhancing their intrinsic value [1]

Core Viewpoint - The company reported a decrease in revenue and average selling price of pigs, influenced by changes in the domestic market conditions [1] Group 1: Sales Performance - The company sold 1.3942 million pigs in September 2025, representing a month-on-month increase of 4.22% and a year-on-year increase of 16.92% [1] - Revenue for the same period was 1.746 billion yuan, showing a month-on-month increase of 1.39% but a year-on-year decrease of 23.82% [1] Group 2: Pricing Analysis - The average selling price of pigs was 12.89 yuan per kilogram, reflecting a month-on-month decrease of 4.80% and a significant year-on-year decrease of 31.47% [1] - The substantial year-on-year decline in selling prices is primarily attributed to fluctuations in the domestic pig market [1]

Core Viewpoint - New Hope (000876.SZ) reported a significant decline in revenue and average selling price of live pigs, primarily due to changes in the domestic market conditions [1] Group 1: Sales Performance - The company sold 1.3942 million live pigs in September 2025, representing a month-on-month increase of 4.22% and a year-on-year increase of 16.92% [1] - Revenue from sales reached 1.746 billion yuan, with a month-on-month increase of 1.39% but a year-on-year decrease of 23.82% [1] Group 2: Pricing Trends - The average selling price of commodity pigs was 12.89 yuan per kilogram, showing a month-on-month decrease of 4.80% and a year-on-year decrease of 31.47% [1] - The substantial year-on-year decline in selling prices is mainly attributed to fluctuations in the domestic live pig market [1]

Core Viewpoint - The domestic pig prices have sharply declined, with futures contracts dropping nearly 6% to below 12,000 yuan per ton, attributed to a combination of reduced demand and increased supply pressure [2][3]. Group 1: Price Trends - The weighted price of October pig futures has already seen a monthly decline of 7.9%, following an 8.4% drop in September, marking the largest monthly decline since January [3]. - The sales data from listed pig companies indicate a significant increase in sales volume despite the drop in average selling prices, with companies like Wens Foodstuffs reporting a 32.46% year-on-year increase in sales [4]. Group 2: Supply and Demand Dynamics - There is a notable increase in the planned slaughter volume for October, with a 5.48% rise compared to September, indicating ongoing supply pressure [5][6]. - The market consensus suggests a phase of demand inertia decline post-holiday, with expectations of reduced consumer demand and limited new orders from major slaughterhouses [7]. Group 3: Market Sentiment - The overall market sentiment is pessimistic, with many institutions expressing a bearish outlook for pig prices over the next three months due to high levels of breeding sows and slow capacity reduction [8][9]. - The industry is experiencing a phase of losses, with companies focusing on cost-cutting and cash flow management, leading to a challenging environment for price recovery [8].

Core Viewpoint - New Hope (000876.SZ) reported a significant decline in revenue and average selling price of hogs, primarily due to changes in the domestic hog market conditions [1] Sales Performance - The company sold 1.3942 million hogs in September 2025, representing a month-on-month increase of 4.22% and a year-on-year increase of 16.92% [1] - Revenue for the same period was 1.746 billion yuan, showing a month-on-month increase of 1.39% but a year-on-year decrease of 23.82% [1] Pricing Trends - The average selling price of hogs was 12.89 yuan per kilogram, which reflects a month-on-month decrease of 4.80% and a year-on-year decrease of 31.47% [1] - The substantial year-on-year decline in selling prices is mainly attributed to fluctuations in the domestic hog market [1]

证券代码：000876 证券简称：新希望 公告编号：2025-99 债券代码：127015、127049 债券简称：希望转债、希望转 2 新希望六和股份有限公司 2025 年 9 月生猪销售情况简报 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。 新希望六和股份有限公司（以下简称"公司"）下属子公司从事 生猪养殖业务。按照《深圳证券交易所上市公司自律监管指引第 3 号 ——行业信息披露》规定，深交所鼓励从事畜禽、水产养殖业务的上 市公司每月通过临时公告形式披露相关业务销售情况，公司将参照指 引相关规定执行。 2、上述数据均未经审计，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。敬请广大 投资者注意投资风险。 特此公告 新希望六和股份有限公司 董 事 会 二○二五年十月十日 公司 2025 年 9 月销售生猪 139.42 万头，环比变动 4.22%，同比 变动 16.92%。收入 17.46 亿元，环比变动 1.39%，同比变动-23.82%。 商品猪销售均价 12.89 元/公斤，环比变动-4.80%，同比变动-31. ...

Core Insights - New Hope reported a decrease in the average selling price of commodity pigs in September, indicating a challenging market environment for the company [1] Sales Performance - In September 2025, New Hope sold 1.3942 million pigs, representing a month-on-month increase of 4.22% and a year-on-year increase of 16.92% [1] - The revenue for September was 1.746 billion yuan, showing a month-on-month growth of 1.39% but a year-on-year decline of 23.82% [1] Pricing Trends - The average selling price of commodity pigs was 12.89 yuan per kilogram, which reflects a month-on-month decrease of 4.80% and a year-on-year decrease of 31.47% [1]