Core Viewpoint - The overall trend of pig prices has declined in June 2025, impacting the sales performance of major listed pig companies in China [1][2][3] Group 1: Sales Performance of Major Companies - Muyuan Foods reported a June average selling price of 14.08 CNY/kg, a year-on-year decrease of 20.59% and a month-on-month decrease from 14.52 CNY/kg [1][2] - Wens Foodstuff Group's June average selling price was 14.39 CNY/kg, reflecting a month-on-month decrease of 1.98% and a year-on-year decrease of 20.50% [1][2] - New Hope reported a June average selling price of 14.18 CNY/kg, with a month-on-month decrease of 2.81% and a year-on-year decrease of 21.53% [1][2] Group 2: Sales Volume and Revenue - Muyuan Foods sold 7.019 million pigs in June, a year-on-year increase of 58.35%, generating a revenue of 12.799 billion CNY, up 27.65% [2] - Wens Foodstuff Group sold 3.0073 million pigs, a year-on-year increase of 28.93%, with a revenue of 4.920 billion CNY, down 5.40% [2] - New Hope sold 1.33 million pigs, a year-on-year increase of 3.38%, with a revenue of 1.871 billion CNY, down 19.14% [2] Group 3: Market Outlook - The decline in pig prices is expected to impact company performance, but the second half of 2025 is anticipated to perform better than expected [3] - According to a report by招商证券, the overall pig price is expected to stabilize with support at the bottom, and the second half of the year may see better-than-expected prices due to limited supply growth [3] - 卓创资讯 forecasts that the average monthly price from July to December 2025 will range between 13.76 CNY/kg and 15.07 CNY/kg, with demand expected to decrease initially before increasing [3]

Group 1 - New Hope Liuhe Co., Ltd. reported a decrease in pig sales in June 2025, with sales of 1.33 million pigs, a month-on-month decrease of 0.29% and a year-on-year increase of 3.38% [1] - The sales revenue for June was 1.871 billion yuan, reflecting a month-on-month decrease of 5.12% and a year-on-year decrease of 19.14% [1] - The average selling price of pigs in June dropped to 14.18 yuan/kg, down 2.81% month-on-month and 21.53% year-on-year, marking a new low for the past year [1] Group 2 - In the first quarter of 2025, New Hope achieved operating revenue of 24.417 billion yuan, a year-on-year increase of 2.13%, and a net profit of 445 million yuan, indicating a significant turnaround [2] - The company has successfully reduced breeding costs by 1.8 yuan/kg compared to the same period last year, contributing to improved profitability [2] - Future trends suggest that pig prices may exhibit volatility, with expectations of average monthly prices between 13.76 yuan/kg and 15.07 yuan/kg from July to December 2025 [2] Group 3 - The pig farming industry is experiencing increased concentration due to the expansion of leading enterprises and technological advancements, while weaker companies face significant challenges amid low prices and rising costs [3] - The overall profit margins in the industry are being compressed, with many companies selling pigs at prices below 15 yuan/kg, leading to a low-profit operating phase [3] - New Hope's recent operational costs for fattened pigs are approximately 13 yuan/kg, and the company is focusing on four key tasks to reduce costs: epidemic prevention, genetic improvement, flexible management, and enhancing profitability in the fresh food segment [3]

Group 1 - Sannuo Group expects a net loss of 100 million to 120 million yuan for the first half of 2025, a significant decline from a profit of 7.4 million yuan in the same period last year [1] - The company anticipates a net loss of 77 million to 95 million yuan after excluding non-recurring gains and losses [1] - Basic earnings per share are projected to be a loss of 0.2148 to 0.2578 yuan per share [1] Group 2 - Landai Technology is planning to transfer 18% of its shares, which may lead to a change in control [2] - The stock of Landai Technology has been suspended from trading since July 8, 2025, with an expected suspension period of no more than two trading days [2] Group 3 - Xinxin Co. announced that a senior executive plans to reduce their holdings by up to 750,000 shares, representing no more than 0.2971% of the total share capital [3] - The reason for the reduction is personal financial needs [3] Group 4 - Biyimi plans to reduce its shares by a total of up to 3% by two shareholders, with one shareholder planning to reduce up to 139.68 million shares (2.00%) and the other up to 69.84 million shares (1.00%) [4] - The reason for the reduction is also personal financial needs [4] Group 5 - Changxin Bochuang announced that shareholders plan to reduce their holdings by up to 2.95%, totaling 8.6 million shares [6] - The reason for the reduction is personal financial needs [6] Group 6 - Tianci Materials plans to publicly issue H-shares and apply for listing on the Hong Kong Stock Exchange [9] Group 7 - Sanxiang Impression announced the termination of a previous equity transfer agreement, following a request from its controlling shareholder [10] Group 8 - Zhongke Technology has decided to terminate its plan to issue shares for asset acquisition and related fundraising due to changes in market conditions [12] Group 9 - Hangcha Group's subsidiary plans to acquire 99.23% of Guozu Robot's shares through capital increase [14] Group 10 - Xishan Technology plans to increase its holdings in the company by no less than 5 million and no more than 10 million yuan [19] Group 11 - New Hope reported sales of 1.33 million pigs in June, a year-on-year increase of 3.38% [21] - The sales revenue was 1.871 billion yuan, a year-on-year decrease of 19.14% [21] Group 12 - Auhua Endoscope announced that two shareholders plan to reduce their holdings by up to 1.92% [18] Group 13 - Star Source Material has submitted an application for H-share issuance and listing [18] Group 14 - Yilian Technology plans to invest 20 million yuan to establish a partnership with professional institutions [30]

Group 1 - *ST San Sheng (002742.SZ): The controlling shareholder Pan Xianwen's 32.2 million shares have been transferred, accounting for 7.30% of the total share capital, reducing his holding from 17.26% to 16.75, with no change in company control [1] - Aikang Co., Ltd. (300889.SZ): Shareholders Zhang Fengbin and Feng Renrong reduced their holdings by a total of 1.76 million shares, accounting for 1.06% of the total share capital, completing the reduction plan [1] - Allianz Ruishi (301042.SZ): Director Shen Lei reduced his holdings by 98,700 shares, accounting for 0.14% of the total share capital, with the reduction plan period ending [1] Group 2 - Baotong Technology (300031.SZ): Controlling shareholder Bao Zhifang and director Tang Yu plan to reduce their holdings by up to 8.3749 million shares and 1.526988 million shares, accounting for no more than 2% and 0.36% of the total share capital, respectively [2] - Biyiwei (688045.SH): Shareholders Fang Guang Erqi and Yuan Chengjun plan to reduce their holdings by up to 139,680 shares and 69,840 shares, accounting for no more than 2% and 1% of the total share capital, respectively [2] - Chahua Co., Ltd. (603615.SH): Shareholder Shenzhen Hanjinliang reduced 2.397 million shares, accounting for 0.99% of the total share capital, completing the reduction plan [2] Group 3 - Dacai Co., Ltd. (605287.SH): Shareholder Qingdao Dikuang Chanquan Development Co., Ltd. reduced 3.64 million shares, accounting for 2.60% of the total share capital, completing the reduction plan [3] - Dize Pharmaceutical (688192.SH): Vice President Zhang Shiying reduced 161,550 shares, accounting for 0.0035% of the total share capital, completing the reduction plan [3] - Fuhan Micro (300613.SZ): Controlling shareholder's concerted action party plans to reduce up to 6.90208 million shares, accounting for 3% of the total share capital [3] Group 4 - Guanghuan Xinwang (300383.SZ): Directors and vice presidents plan to reduce a total of up to 720,476 shares, accounting for no more than 0.04% of the total share capital [4] - Hanyu Group (300403.SZ): Director and Vice President Wu Geming plans to reduce up to 1 million shares, accounting for 0.1658% of the total share capital [4] - Haosen Intelligent (688529.SH): Shareholders plan to reduce a total of up to 3 million shares, accounting for 1.7838% of the total share capital [4] Group 5 - Huilong New Materials (301057.SZ): Controlling shareholder's concerted action party plans to reduce up to 3.482902 million shares, accounting for 3% of the total share capital excluding repurchased shares [5] - Huitong Co., Ltd. (688219.SH): Shareholder Tong'an Fund reduced 4.667815 million shares, accounting for 0.93% of the total share capital, completing the reduction plan [5] Group 6 - Jiangsu Shentong (002438.SZ): Shareholder Huzhou Fenglin Huoshan Equity Investment Partnership reduced a total of 14.205 million shares, accounting for 2.798808% of the total share capital, completing the reduction plan [6] - Jiangtian Chemical (300927.SZ): Shareholder Jiangshan Co., Ltd. reduced 1.3265 million shares, accounting for 0.92% of the total share capital [6] - Jin Sanjiang (301059.SZ): Shareholder Guangzhou Saina reduced 104,900 shares, accounting for 0.05% of the total share capital, completing the reduction plan [6] Group 7 - Jingxue Energy (301010.SZ): Controlling shareholder's concerted action party reduced 1.08 million shares, accounting for 1% of the total share capital, completing the reduction plan [7] - Jiuwu High-Tech (300631.SZ): Vice President Wang Xiaohu and Cheng Junjun plan to reduce up to 18,900 shares and 5,000 shares, accounting for no more than 0.1511% and 0.04% of the total share capital, respectively [7] - Kanghui Pharmaceutical (603139.SH): Shareholder Shanghai Sailoxian plans to reduce up to 2.9964 million shares, accounting for 3% of the total share capital [7] Group 8 - Meino Biological (301156.SZ): Shareholder's concerted action party reduced 1.297029 million shares, accounting for 0.92% of the total share capital, completing the reduction plan [8] - Minfa Aluminum Industry (002578.SZ): Shareholder Huang Tianhuo reduced 6.6702 million shares, accounting for 0.71% of the total share capital, reducing his holding to 4.9963% [8] - Nuo Puxin (002215.SZ): Directors and senior management plan to reduce a total of up to 1.8607 million shares, accounting for no more than 0.185% of the total share capital [8] Group 9 - Entropy Technology (301330.SZ): Shareholders reduced a total of 4,693,864 shares, accounting for 1.9556% of the total share capital, completing the reduction plan [9] - Shengbang Co., Ltd. (301233.SZ): Supervisor Hu Jilin plans to reduce up to 5,650 shares, accounting for 0.0111% of the total share capital [9] - Shudao Equipment (300540.SZ): Senior management did not reduce their shares, and the reduction plan period has ended [9] Group 10 - Tongyu Communications (002792.SZ): Controlling shareholder and actual controller Shi Guiqing plans to reduce up to 15,653,487 shares, accounting for 2.9963% of the total share capital [10] Group 11 - Wuzhou Xinchun (603667.SH): Senior management plans to reduce a total of up to 22,500 shares, accounting for no more than 0.0061%, 0.0067%, and 0.0037% of the total share capital [11] - New Sharp Co., Ltd. (688257.SH): Senior management plans to reduce up to 750,000 shares, accounting for no more than 0.2971% of the total share capital [11] - New Hope (000876.SZ): Senior management reduced 225,000 shares, accounting for 0.005% of the total share capital, completing the reduction plan [11] Group 12 - Youke De (688158.SH): Shareholder Zhongyi Capital reduced 882,766 shares, accounting for 0.19% of the total share capital, completing the reduction plan [12] - Changqing Technology (001324.SZ): Shareholders reduced a total of 4,165,050 shares, accounting for 3.00% of the total share capital, completing the reduction plan [12] - Changxin Bochuang (300548.SZ): Shareholders plan to reduce up to 8.6 million shares, accounting for 2.95% of the total share capital [12] Group 13 - Zhongfu Industrial (600595.SH): Shareholder Henan Yicheng Chuangtou plans to reduce up to 40 million shares, accounting for 1% of the total share capital [13] - Zhuhai Ming Technology (300232.SZ): Controlling shareholder Lin Mingfeng plans to reduce up to 21,722,009 shares, accounting for 1.99% of the total share capital [13] - Zhuoyi Information (688258.SH): Employee shareholding platform plans to reduce up to 2,271,445 shares, accounting for no more than 1.88% of the total share capital [13]

Core Viewpoint - Several listed companies in the Shanghai and Shenzhen markets have announced significant developments, including management changes, stock trading fluctuations, and major contracts, which may present investment opportunities and risks for investors [2]. Group 1: Management Changes and Legal Issues - Scanda's chairman and general manager, Li Yuejie, along with director Zhu Chuncheng, have been subjected to criminal coercive measures due to alleged violations related to information disclosure [3]. - Longhong High-Tech is planning to acquire 100% equity of Guangxi Changke, leading to a stock suspension for up to 10 trading days [6]. Group 2: Stock Trading and Performance - New Asia Electronics reported abnormal stock trading with a cumulative price deviation exceeding 20% over three days, while confirming that its operations are normal and consistent with previously disclosed share reduction plans [5]. - ST Tiexin announced the removal of risk warnings and a name change, which will increase the trading limit from 5% to 10% [8]. Group 3: Financial Performance Forecasts - Industrial Fulian expects a net profit increase of 36.84% to 39.12% year-on-year for the first half of 2025, driven by a surge in AI-related business [18]. - Huayou Cobalt anticipates a net profit increase of 55.62% to 67.59% for the same period, benefiting from integrated operations and rising cobalt prices [19]. - Guoli Co. forecasts a staggering net profit increase of 130.91% to 158.08% for the first half of 2025, attributed to new product and market expansions [20]. - Bangji Technology expects a net profit increase of 166.77% to 200.91%, driven by increased sales from direct sales channels [21]. - Lier Chemical predicts a net profit increase of 185.24% to 196% due to rising product sales and cost reduction efforts [25]. Group 4: Major Contracts and Projects - Huadian Science and Technology signed significant contracts worth approximately RMB 25.16 billion for coal handling and transportation systems [41]. - Aerospace Engineering is the first candidate for a project with a bid of RMB 23.92 billion for a coal gasification facility [43].

证券代码：000876 证券简称：新希望 公告编号：2025-62 债券代码：127015、127049 债券简称：希望转债、希望转 2 公司高级管理人员李爽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），公司高级管理人员李爽先生计划于 2025 年 7 月 1 日至 2025 年 9 月 30 日减持本公司股份不超过 225,000 股，约占本公司总股 本比例 0.0050%。近日，公司收到李爽先生送达的《股份减持计划实施完成告知函》， 截至 2025 年 7 月 3 日，李爽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 | | --- | --- | --- | --- | --- ...

证券代码：000876 证券简称：新希望 公告编号：2025-64 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关于控股股东 非公开发行可交换公司债券（第一期）调整换股价格的 提示性公告 本公司控股股东新希望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信息披露的内容与信息披露义务人提供的信 息一致。 可交换公司债券（第一期）募集说明书》（以下简称"募集说明书"） 的约定，在本期可交换债券发行后，当公司因派送股票股利、转增股 本或配股以及派送现金股利等情况使公司和/或股东权益发生变化时， 将按下述公式进行换股价格的调整（（保留小数点后两位，最后一位四 舍五入）： 派送股票股利或转增股本：P1=P0×N/（N+n）； 低于市价配股：P1=P0×（N+k）/(N+n)，k=n×A/M； 派送现金股利：P1=P0-D 近日，新希望六和股份有限公司董事会（（以下简称"公司"）收到 控股股东新希望集团有限公司（（以下简称"新希望集团"）关于 2023 年 面向专业投资者非公开发行可交换公司债券（（第 ...

证券代码：000876 证券简称：新希望 公告编号：2025-62 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 公司高级管理人员李爽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），公司高级管理人员李爽先生计划于 2025 年 本比例 0.0050%。近日，公司收到李爽先生送达的《股份减持计划实施完成告知函》， 截至 2025 年 7 月 3 日，李爽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 减持均价 减持股数 减持比例 减持期间 名称 方式 （元/股） （股） （%） 集中竞 2025 年 7 月 2 日 9.40 185,500 0.0041% 李爽 价交易 2025 年 7 月 3 日 9.45 ...

一、2025 年 6 月份生猪销售情况 公司 2025 年 6 月销售生猪 133.00 万头，环比变动-0.29%，同比 变动 3.38%。收入 18.71 亿元，环比变动-5.12%，同比变动-19.14%。 商品猪销售均价 14.18 元/公斤，环比变动-2.81%，同比变动-21.53%。 | 月份 | | | 生猪销售数量 | | 生猪销售收入 | | 商品猪价格 | | --- | --- | --- | --- | --- | --- | --- | --- | | | | | （万头） | | （亿元） | | （元/公斤） | | | | | 当月 | 累计 | 当月 | 累计 | 当月 | | 2024 | 年 | 6 月 | 128.65 | 868.86 | 23.14 | 130.48 | 18.07 | | 2024 | 年 | 7 月 | 126.20 | 995.06 | 23.91 | 154.39 | 18.80 | | 2024 | 年 | 8 月 | 127.75 | 1,122.81 | 24.86 | 179.25 | 20.13 | | 2024 | 年 | 9 ...

Group 1 - The core announcement is about the adjustment of the conversion price for the first phase of the non-public issuance of exchangeable corporate bonds by the controlling shareholder, New Hope Group [1][2] - The exchangeable bonds were issued on March 22, 2023, with a total scale of 6.5 billion RMB and a maturity of 3 years [1][2] - The adjustment of the conversion price is based on changes in the company's equity due to stock dividends, capital increases, or cash dividends, following specific formulas outlined in the offering document [2] Group 2 - The adjusted conversion price for the exchangeable bonds is calculated to be 13.07 RMB, effective from July 11, 2025, after the completion of the repurchase and cancellation of restricted stock [2] - The number of shares reserved for exchange will be no less than 120% of the total shares required for the exchange of all outstanding exchangeable bonds [3] - The company assures that the adjustment of the conversion price is a normal operation and will not adversely affect its production and operations [4]