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]

Group 1 - The core viewpoint of the articles indicates a fluctuating trend in global pork production from 2020 to 2025, with specific projections for China, the EU, the US, and Brazil [1][2][3] - In 2024, China's pork production is projected to be 56.75 million tons, with a slight decrease to 55.50 million tons in 2025 due to regulatory measures on excess pig production capacity [1] - The EU's pork production is expected to decline from 21.25 million tons in 2024 to 20.90 million tons in 2025, primarily due to reduced export demand [1] - The US and Brazil are anticipated to see increases in pork production, reaching 12.94 million tons and 4.55 million tons respectively by 2025 [1] Group 2 - The global pig inventory is projected to be approximately 759 million heads by the end of 2024, reflecting a year-on-year decrease of about 2.42% [2] - China, the EU (27 countries), and the US account for 57.19%, 17.50%, and 9.94% of the global pig inventory respectively [2] - In 2024, China's pig inventory is estimated to be around 42.743 million heads, showing a year-on-year decline of 1.6% [3] Group 3 - The market size of China's pig farming industry is expected to reach approximately 1.44 trillion yuan in 2024, influenced by rising pig prices [5] - The market size is calculated based on the number of pigs slaughtered, average weight at slaughter, and average price of pigs, with the average weight assumed to be 120 kg per head [5] - In 2020, the market size peaked at 2.16 trillion yuan due to significant price increases [5]

Investment Rating - The industry investment rating is "Positive" (maintained) [1] Core Insights - The supply contraction and macroeconomic catalysts are expected to provide strong support for pig prices in Q3 2025. The average selling price of pigs on July 4 was 15.37 yuan/kg, reflecting a week-on-week increase of 0.71 yuan/kg and a 4.84% rise [12][13] - The central economic committee's recent meeting emphasized the need to promote high-quality development of the marine economy, which is expected to benefit the aquaculture sector [21][36] - The agricultural index outperformed the market by 1.14 percentage points during the week of June 27 to July 4, with the agricultural index rising by 2.55% compared to a 1.40% increase in the Shanghai Composite Index [32][34] Summary by Sections Supply and Demand Dynamics - The average daily slaughter volume of pigs was 133,800 heads, a decrease of 7,300 heads from the previous week, indicating a seasonal decline in demand due to rising temperatures [12] - The supply side continues to contract due to previous over-culling and losses from piglets after the Spring Festival, which is expected to support prices [12] Price Trends - The average price of pigs increased to 15.35 yuan/kg, with a week-on-week rise of 0.63 yuan/kg. The price of piglets decreased to 31.33 yuan/kg, down by 0.27 yuan/kg [6][39] - The price of corn increased to 2,511 yuan/ton, reflecting a week-on-week increase of 8 yuan/ton, while soybean meal prices decreased to 2,926 yuan/ton, down by 27 yuan/ton [4][16] Investment Recommendations - The report recommends investing in companies such as Muyuan Foods, Wens Foodstuff Group, and New Hope Liuhe, which are expected to benefit from the improving investment logic in the pig sector [27] - In the feed sector, companies like Haida Group and New Hope are recommended due to domestic market benefits and strong overseas demand [27] Market Performance - The aquaculture sector led the market gains, with stocks like Guolian Aquatic Products rising by 12.22%, Shennong Technology by 7.31%, and Dongrui Co. by 6.92% during the week [32][35]

Investment Rating - The report maintains an "Increase" rating for the agricultural sector [5] Core Views - The report emphasizes the need to combat "involutionary" competition and optimize pig production capacity, as highlighted in the recent meeting of the Central Financial Committee [1][17] - The overall pig farming industry is currently profitable, with self-breeding and self-raising models showing increased profits [18][23] - The poultry sector is experiencing price declines, particularly in broiler chickens and chicken seedlings, indicating a potential for price recovery in the future [19][36] Summary by Sections Agricultural Data Tracking - The national average price for lean meat pigs is 14.82 CNY/kg, up 3.9% from last week, while the average wholesale price for pork is 20.58 CNY/kg, up 1.7% [21][22] - The average weight of pigs for slaughter has decreased to 90.05 kg, down 0.6% week-on-week [26] - The price of 15 kg piglets has decreased to 36.77 CNY/kg, down 1% from last week [29] Pig Farming - The average profit for self-breeding pigs is 119.72 CNY/head, an increase of 69.48 CNY/head from last week, while the profit for purchased piglets is -26.26 CNY/head, an increase of 105.45 CNY/head [23][24] - The report suggests monitoring the impact of recent policy changes on pig prices and inventory behavior [18] Poultry Farming - The average price for broiler chickens is 6.75 CNY/kg, down 3.7% from last week, and the average price for chicken products is 8.45 CNY/kg, down 1.2% [36] - The price for broiler chicks has dropped to 1.36 CNY/chick, down 20% from last week [31] Crop and Agricultural Products - The approval of genetically modified varieties is expected to lead to commercial sales, with potential growth opportunities for industry companies [19] Livestock Support - The report notes increased price volatility in agricultural products, with leading feed companies likely to replace smaller competitors due to their advantages in procurement and scale [19]

证券代码：000876 证券简称：新希望 公告编号：2025-60 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 2022 年度限制性股票激励计划 回购注销限制性股票完成的公告 本公司及董事会全体成员保证信息披露内容的真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 特别提示： 共涉及 526 名激励对象，合计 2,337.22 万股，占回购前公司总股本的 0.52%。 理完成了上述限制性股票的回购注销手续。本次回购注销完成后，公司总股本由 公司于 2023 年 7 月 25 日召开了第九届董事会第十六次会议和第 九届监事会第十二次会议，并于 2023 年 10 月 27 日召开 2023 年第二 次临时股东大会审议通过了《关于回购注销部分限制性股票的议案》 同意公司回购注销 2022 年限制性股票激励计划(以下简称"2022 年 激励计划"）55 名激励对象所持有的未解除限售的合计 463.2 万股限 制性股票。 公司于 2023 年 10 月 27 日召开第九届董事会第二十次会议及第 九届监事会第十五次会议，并于 2025 年 4 月 3 日召 ...

证券代码：000876 证券简称：新希望 公告编号：2025-61 特别提示： 1、"希望转债"转股价格：调整前为 10.60 元/股，调整后为 10.61 元/股 新希望六和股份有限公司 关于可转债转股价格调整的公告 本公司及董事会全体成员保证信息披露内容的真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 2、"希望转 2"转股价格：调整前为 10.60 元/股，调整后为 10.61 元/股 债券代码：127015，127049 债券简称：希望转债，希望转 2 3、转股价格调整起始日期：2025 年 7 月 7 日 一、关于"希望转债"、"希望转 2"转股价格调整的相关规定 新希望六和股份有限公司（以下简称"公司"、"上市公司"）于 2020 年 1 月 3 日公开发行了 40,000,000 张可转换公司债券（债券简 称：希望转债，债券代码：127015）、于 2021 年 11 月 2 日公开发行 了 81,500,000 张可转换公司债券（债券简称：希望转 2，债券代码： 127049）。根据《公开发行 A 股可转换公司债券募集说明书》发行条 款以及中国证监会关于可转换债券发行的有关规定，在可 ...

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 证券代码：000876 证券简称：新希望 公告编号：2025-60 本公司及董事会全体成员保证信息披露内容的真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 特别提示： 1、新希望六和股份有限公司（以下简称"公司"）本次回购注销限制性股票 共涉及 526 名激励对象，合计 2,337.22 万股，占回购前公司总股本的 0.52%。 2、本次回购注销的限制性股票回购价格为 7.98 元/股。 关于 2022 年度限制性股票激励计划 回购注销限制性股票完成的公告 公司于 2023 年 7 月 25 日召开了第九届董事会第十六次会议和第 九届监事会第十二次会议，并于 2023 年 10 月 27 日召开 2023 年第二 次临时股东大会审议通过了《关于回购注销部分限制性股票的议案》， 同意公司回购注销 2022 年限制性股票激励计划(以下简称"2022 年 激励计划"）55 名激励对象所持有的未解除限售的合计 463.2 万股限 制性股票。 公司于 2023 年 10 月 27 日召开第九届董事会第二十次会议及第 ...