Core Viewpoint - New Hope Service (03658) announced a change in its executive leadership, with Executive Director Liu Xu transitioning to a non-executive director role to focus on other business ventures, effective September 10, 2025 [1] Group 1 - Liu Xu will dedicate more time to other business matters, leading to his appointment as a non-executive director [1] - Wu Min, the current non-executive director and co-chair of the board, will be promoted to executive director [1] - The leadership changes are set to take effect on September 10, 2025 [1]

Group 1 - The article highlights the upcoming meeting on September 16 in Beijing, organized by the Ministry of Agriculture and Rural Affairs and the National Development and Reform Commission, to discuss pig production capacity regulation measures [1] - The meeting will include 25 companies such as Muyuan, Wens, and New Hope, focusing on analyzing the current pig production situation and sharing measures and results related to capacity regulation [1] - The agenda includes studying and deploying pig production capacity regulation work for the second half of this year and next year [1]

登录新浪财经APP 搜索【信披】查看更多考评等级 ■ 庞允东先生的股份来源为公司2022年限制性股票激励计划获授并已上市流通的股份。 2．股东本次减持前后持股情况 ■ 二、其他相关说明 1．本次减持计划未违反《中华人民共和国公司法》《中华人民共和国证券法》《上市公司董事、监事 和高级管理人员所持本公司股份及其变动管理规则》《深圳证券交易所上市公司自律监管指引第10 号 一一股份变动管理》《深圳证券交易所上市公司自律监管指引第18 号一一股东及董事、监事、高级管 理人员减持股份》等有关法律、行政法规、部门规章以及规范性文件的规定。 2．庞允东先生本次减持计划的实施与此前披露的减持计划及其相关承诺不存在差异。 公司监事庞允东先生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。 新希望六和股份有限公司（以下简称"公司"）于2025年6月10日在巨潮资讯网（www.cninfo.com.cn）上 披露了《关于部分董事、监事、高级管理人员减持股份的预披露公告》（公告编号：2025-53），公司 监事庞允东先生计划于20 ...

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。 新希望六和股份有限公司（以下简称"公司"）于 2025 年 6 月 10 日在巨潮资讯 网（www.cninfo.com.cn）上披露了《关于部分董事、监事、高级管理人员减持股份 的预披露公告》（公告编号：2025-53），公司监事庞允东先生计划于 2025 年 7 月 1 日至 2025 年 9 月 30 日减持本公司股份不超过 18,000 股，约占本公司总股本比例 0.0004%。近日，公司收到庞允东先生送达的《股份减持计划实施完成告知函》，截 至 2025 年 9 月 8 日，庞允东先生本次减持计划已实施完成。具体情况公告如下： 一、股东减持情况 | 股东 | 减持 | 减持期间 | 减持均价 | 减持股数 | 减持比例 | | --- | --- | --- | --- | --- | --- | | 名称 | 方式 | | （元/股） | （股） | （%） | | 庞允东 | 集中竞价 交易 | 2025 年 9 月 8 日 | 10.24 | 18,000 | 0.0004% | | | 合计 | | 10.24 | 18,0 ...

Group 1 - The core viewpoint of the news is that China's preliminary anti-dumping ruling on imported pork from the EU is expected to create a favorable configuration opportunity for the domestic pig farming sector, leading to price increases in the industry [1][2] - The Ministry of Commerce of China announced a preliminary ruling on September 5, 2025, recognizing that imported pork and related products from the EU are being dumped, and will implement temporary anti-dumping measures starting September 10, 2025, with deposit rates ranging from 15.6% to 62.4% [1] - The livestock ETF (159867) rose by 2.60%, reflecting positive market sentiment towards the pig farming sector following the anti-dumping announcement [1] Group 2 - Open Source Securities noted that over 50% of China's imported pork and offal comes from the EU, and the anti-dumping measures may drive domestic pork prices higher, indicating a potential bottoming out of prices [2] - As temperatures cool, demand for pork is expected to improve, leading to tighter market supply of large pigs and an expansion of price differentials for fat pigs [2] - The China Livestock Breeding Index (930707) includes companies involved in livestock feed, veterinary drugs, and breeding, with the top ten weighted stocks accounting for 65.57% of the index [2]

Sales Performance - The three major pig companies reported an increase in sales volume, with Wens Foodstuffs showing the highest year-on-year growth of 37.88% [1][5] - In August, Muyuan Foods sold 7.001 million pigs, a year-on-year increase of 27.1% and a month-on-month increase of 10.2% [1][5] - Wens Foodstuffs sold 3.2457 million pigs, with a month-on-month increase of 2.56% and a year-on-year increase of 37.88% [1][5] - New Hope sold 1.3378 million pigs, with a month-on-month increase of 2.71% and a year-on-year increase of 4.72% [1][5] Revenue Analysis - All three companies experienced a decline in sales revenue year-on-year, with Muyuan Foods reporting a revenue of 11.85 billion yuan, down 12.3% year-on-year but up 1.8% month-on-month [4][6] - Wens Foodstuffs reported a revenue of 4.825 billion yuan, down 17.7% year-on-year and down 1.07% month-on-month [4][6] - New Hope's revenue was 1.722 billion yuan, down 30.73% year-on-year and down 4.45% month-on-month [4][6] Price Trends - The average sales price for all three companies decreased both year-on-year and month-on-month, with declines ranging from 4% to 7% month-on-month and 31% to 33% year-on-year [7][8] - In August, Muyuan Foods' average sales price was 13.51 yuan/kg, down 31.46% year-on-year and down 5.5% month-on-month [7][9] - Wens Foodstuffs' average price was 13.90 yuan/kg, down 32.03% year-on-year and down 4.66% month-on-month [7][9] - New Hope's average price was 13.54 yuan/kg, down 32.74% year-on-year and down 6.23% month-on-month [7][9]

Investment Rating - The industry investment rating is "Positive" (maintained) [1] Core Views - The report highlights that the profitability of the breeding chain is expected to see significant growth in H1 2025, with the pet sector maintaining its high prosperity [3][20] - The preliminary ruling on anti-dumping measures against EU pork imports is anticipated to drive domestic pork prices upward, presenting a good opportunity for investment in the pig farming sector [4][14] - The report emphasizes a dual driving force from both fundamental and policy aspects, suggesting that pig prices are likely to rise in H2 2025, improving the investment logic in the pig farming sector [20] Summary by Sections Weekly Observation - The Ministry of Commerce has announced preliminary anti-dumping measures on EU pork imports, with a guarantee deposit rate ranging from 15.6% to 62.4% [4][13] - The domestic pork and pork offal import volume reached 1.15 million tons in H1 2025, with EU imports accounting for 52% [14][16] Market Performance (Sept 1 - Sept 5) - The agricultural index underperformed the market by 0.15 percentage points, with the Shanghai Composite Index down 1.18% and the agricultural index down 1.32% [6][24] - The pet food sector led the gains among sub-sectors, with notable increases in individual stocks such as Yuegui Co. (+13.19%) and Honghui Fruits (+9.23%) [6][24][29] Price Tracking (Sept 1 - Sept 5) - The average price of live pigs was 13.77 yuan/kg, up 0.11 yuan/kg from the previous week, while the average price of piglets was 25.4 yuan/kg, down 1.74 yuan/kg [7][35] - The price of corn futures increased by 1.46% to 2219.00 yuan/ton, and soybean meal futures rose by 1.60% to 2536.00 yuan/ton [47][48] Key News (Sept 1 - Sept 5) - The Ministry of Agriculture reported a 5.3% month-on-month increase in the slaughter volume of designated pig slaughtering enterprises in July 2025 [30] - The report indicates that the domestic pig farming sector is expected to benefit from the anti-dumping measures, leading to a potential increase in domestic pork prices [4][14] Investment Recommendations - Recommended stocks in the pig farming sector include Muyuan Foods, Wens Foodstuff Group, and Juxing Agriculture [20] - In the feed sector, companies like Haida Group and New Hope Liuhe are recommended due to strong domestic and overseas demand [20][23]

Key Points - Western Gold's main business includes gold mining and smelting [1] - Donghu Gaoxin's subsidiary plans to establish a joint venture for the Changzi waste incineration project [1] - Southeast Network Framework won a 1.32 billion yuan EPC project as part of a consortium [1] - New Fengming intends to acquire 100% of Samir for 102 million yuan [1] - Lingzhi Software completed the second phase of share repurchase, totaling 0.9375% of its shares [1][2] - New Hope reported 1.722 billion yuan in pig sales revenue for August [1][2] - Muyuan Foods reported 11.85 billion yuan in pig sales revenue for August [1][2] - Shareholders of Chengda Street Industry plan to reduce their holdings by no more than 7.27% [1][3] - ST Lingnan received a notice from the Securities Regulatory Commission regarding suspected information disclosure violations [1][3]

Group 1 - The company sold 1.3378 million pigs in August 2025, representing a month-on-month increase of 2.71% and a year-on-year increase of 4.72% [2] - Revenue for August 2025 was 1.722 billion yuan, showing a month-on-month decrease of 4.45% and a year-on-year decrease of 30.73%, primarily due to a decline in sales prices [2] - The average selling price of commercial pigs was 13.54 yuan per kilogram, with a month-on-month decrease of 6.23% and a year-on-year decrease of 32.74%, significantly impacted by changes in the domestic pig market [2] Group 2 - The disclosed data only includes the company's pig breeding and sales situation, excluding other business activities [3] - The data provided is unaudited and may differ from figures in regular reports, serving as interim data for investor reference [3]

Core Insights - New Hope announced the sale of 1.3378 million pigs in August 2025, reflecting a month-on-month increase of 2.71% and a year-on-year increase of 4.72% [1] - The revenue generated from these sales amounted to 1.722 billion yuan, showing a month-on-month decrease of 4.45% and a year-on-year decrease of 30.73% [1]