Investment Rating - The report maintains a "Positive" investment rating for the agricultural industry [5] Core Insights - The report highlights a structural shortage in the pig market, with expectations for a price turning point in Q2 2026 due to ongoing capacity reduction and favorable policies [3][9] - The report emphasizes the potential for long-term performance improvement in the pig farming sector, driven by policy and market forces [3][9] Summary by Sections Investment Recommendations - The report recommends focusing on the pig farming sector, anticipating a price recovery in Q2 2026, with suggested stocks including Muyuan Foods (002714, Buy), Wens Foodstuff Group (300498, Buy), and Shennong Group (605296, Not Rated) [3] - It also suggests looking at the animal health sector, which may benefit from profit transmission down the supply chain, with recommended stocks including Haida Group (002311, Buy) and Reap Bio (300119, Not Rated) [3] - In the planting chain, the report notes a confirmed upward trend in grain prices, highlighting investment opportunities in large-scale planting, with suggested stocks including Suqian Agricultural Development (601952, Not Rated) and Beidahuang (600598, Not Rated) [3] - The pet food sector is also highlighted, with growth driven by increasing domestic brand recognition and overseas market expansion, recommending stocks such as Guibao Pet (301498, Not Rated) and Zhongchong Co. (002891, Not Rated) [3] Industry Fundamentals - The report indicates that December saw a continued increase in pig output, with 13 listed pig companies collectively reporting an output of 18.72 million heads, a month-on-month increase of 7.11% and a year-on-year increase of 6.8% [13] - The average selling price for pigs in December remained low, with a range from 10.66 yuan/kg to 12.54 yuan/kg, and an overall average around 11.5 yuan/kg [15] - The average weight of pigs sold in December was 124.85 kg, reflecting a decrease of 1.8 kg from the previous month, indicating a trend of accelerated inventory reduction [15][16] Market Trends - The report notes that the natural rubber market is experiencing price strength, with futures prices reaching 16,030 yuan/ton, a week-on-week increase of 2.72% [47] - The report also highlights a stable upward trend in grain prices, with corn and wheat prices showing slight declines while soybean meal prices have increased [37]

Group 1 - The planting industry sector increased by 0.78% on January 9, with Yasheng Group leading the gains [1] - The Shanghai Composite Index closed at 4120.43, up 0.92%, while the Shenzhen Component Index closed at 14120.15, up 1.15% [1] - Yasheng Group's stock price rose by 7.62% to 3.53, with a trading volume of 1.9829 million shares and a transaction value of 705 million yuan [1] Group 2 - The planting industry sector saw a net inflow of 160 million yuan from main funds, while retail investors experienced a net outflow of 177 million yuan [2] - The stock of Jingyin Gaoke decreased by 7.96% to 10.76, with a trading volume of 946,100 shares and a transaction value of 102.5 million yuan [2] - The stock of Shennong Seed Industry increased by 3.45% to 7.50, with a trading volume of 2.1746 million shares and a transaction value of 1.617 billion yuan [2] Group 3 - Yasheng Group had a net inflow of 1.13 billion yuan from main funds, representing 16.05% of its total trading [3] - Jingyin Gaoke experienced a net outflow of 75.64 million yuan from retail investors, accounting for 7.38% of its total trading [3] - Shennong Seed Industry had a net inflow of 35.56 million yuan from main funds, while retail investors saw a net outflow of 101 million yuan [3]

证券日报网讯 1月8日，隆平高科发布公告称，公司第九届董事会第二十六次（临时）会议审议通过 《关于向控股子公司隆平农业发展股份有限公司提供借款的议案》。 （文章来源：证券日报） ...

Group 1 - The core viewpoint of the article highlights the vast potential of the Chinese seed industry market, which is currently fragmented, with different companies focusing on various segments due to differences in business layout and technical expertise [1] - The company, Longping High-Tech (隆平高科), serves as the core listed platform for crop breeding under CITIC Group, emphasizing its strategic position in the industry [1] - Longping High-Tech collaborates closely with research institutions such as the Chinese Academy of Agricultural Sciences and Wuhan University, focusing on key technological breakthroughs in rice, corn, and wheat, as well as the creation of high-quality new germplasm and the industrialization of research outcomes [1] Group 2 - The company has successfully cultivated and promoted a large number of high-yield, high-quality, and stress-resistant varieties, which have been widely adopted across the country, resulting in significant planting benefits [1]

证券代码：000998 证券简称：隆平高科 公告编号：2026-03 袁隆平农业高科技股份有限公司 关于向控股子公司提供借款的公告 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。 特别提示： 1.袁隆平农业高科技股份有限公司（以下简称"公司"）拟向控股子公司隆 平农业发展股份有限公司（以下简称"隆平发展"）提供不超过 20,000 万元人 民币借款，借款期限自董事会审议通过之日起 3 年，上述额度在期限范围内可以 循环滚动使用；借款利率参照国内金融机构向隆平发展提供的同期同档次贷款利 率，本次执行利率为年利率 2.60%。 2.本次借款已经公司 2026 年 1 月 7 日召开的第九届董事会第二十六次（临 时）会议审议通过，无需提交股东会审议。本次借款不构成《深圳证券交易所股 票上市规则》规定的关联交易，也不构成《上市公司重大资产重组管理办法》规 定的重大资产重组。 3.本次借款的对象隆平发展为公司控股子公司，公司能对隆平发展实施有效 的业务、资金管理等风险控制，确保资金安全，且其第二大股东已对其提供借款， 本次借款事项整体风险可控。 一、本次借款事项概述 隆 ...

证券代码：000998 证券简称：隆平高科 公告编号：2026-02 二、备查文件 袁隆平农业高科技股份有限公司 第九届董事会第二十六次（临时）会议决议公告 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。 一、董事会会议召开及审议情况 袁隆平农业高科技股份有限公司（以下简称"公司"）第九届董事会第二十 六次（临时）会议采用通讯方式召开和表决。根据《中华人民共和国公司法》（以 下简称《公司法》）及《袁隆平农业高科技股份有限公司章程》（以下简称《公 司章程》）的有关规定，本次会议的通知以电子邮件方式于 2026 年 1 月 7 日送达 公司全体董事和高级管理人员。本次会议的召集和召开符合《公司法》及《公司 章程》的有关规定。截至 2026 年 1 月 7 日，公司董事会办公室共计收到 9 位董事 的有效表决票，现根据董事表决意见形成如下决议： 审议通过了《关于向控股子公司隆平农业发展股份有限公司提供借款的议案》 本次公司向控股子公司隆平农业发展股份有限公司（以下简称"隆平发展"） 提供借款，主要为满足其在发展过程中资金周转需要，不会影响公司的正常业务 开展及资金使 ...

证券日报网讯 1月5日，隆平高科在互动平台回答投资者提问时表示，公司收购隆平发展是基于长期战 略价值的考量，亦是国际化布局的关键举措。隆平发展作为巴西第三大玉米种业公司，具备稀缺的南美 种质资源与成熟市场渠道，有效提升公司国际行业地位和竞争力。上半年，隆平发展通过优化组织结 构、调整经营班子，强化市场研判、优化营销政策与市场运作，推进降本增效和精益降费等系列措施， 正逐步改善经营业绩情况。 （编辑 袁冠琳） ...

Market Overview - The planting industry sector declined by 0.78% on January 5, with Shennong Agricultural Technology leading the decline [1] - The Shanghai Composite Index closed at 4023.42, up 1.38%, while the Shenzhen Component Index closed at 13828.63, up 2.24% [1] Stock Performance - Notable gainers in the planting sector included: - Noposion: Closed at 10.77, up 1.70% with a trading volume of 121,600 shares and a turnover of 131 million yuan [1] - Guotou Fengle: Closed at 6.68, up 0.91% with a trading volume of 72,100 shares and a turnover of 47.99 million yuan [1] - Qiu Le Seed Industry: Closed at 16.08, up 0.82% with a trading volume of 33,900 shares and a turnover of 54.37 million yuan [1] - Shennong Agricultural Technology was the biggest loser, closing at 7.07, down 4.97% with a trading volume of 2,384,300 shares and a turnover of 1.677 billion yuan [2] Capital Flow - The planting industry sector experienced a net outflow of 36.51 million yuan from institutional funds, while retail investors saw a net inflow of 80.96 million yuan [2] - The capital flow for specific stocks showed: - Qianyuan High-Tech: Net inflow of 55.91 million yuan from institutional funds, but a net outflow of 46.12 million yuan from speculative funds [3] - Hainan Rubber: Net inflow of 16.70 million yuan from institutional funds, with a net outflow of 3.07 million yuan from retail investors [3] - Yasheng Group: Net inflow of 15.96 million yuan from institutional funds, with a significant net outflow from retail investors [3]

Core Viewpoint - Longping High-Tech (隆平高科) has announced the approval of multiple new crop varieties by the National Crop Variety Approval Committee, indicating a significant advancement in its agricultural research and development efforts [1] Group 1: Company Developments - The company, along with its subsidiaries, has successfully developed and received approval for 43 new rice varieties, 20 new corn varieties, and 1 new cotton variety [1]

证券代码：000998 证券简称：隆平高科 公告编号：2026-01 袁隆平农业高科技股份有限公司 关于水稻、玉米及棉花新品种通过国家审定 的自愿性信息披露公告 本公司及董事会全体成员保证公告内容真实、准确和完整，没有虚假记载、 误导性陈述或者重大遗漏。 一、本次新品种审定情况概述 根据《中华人民共和国农业农村部公告第 985 号》，第五届国家农作物品 种审定委员会第八次主任委员会会议审定通过并发布了品种审定公告。其中， 袁隆平农业高科技股份有限公司（以下简称"公司"）及下属公司自主培育或 与他方共同培育的 43 个水稻新品种、20 个玉米新品种、1 个棉花新品种通过国 家审定。 二、本次新品种通过审定对公司的影响 公司以打造种业新质生产力为方向，进一步强化科技创新管理，坚持企业 创新主体地位，推动产学研深度融合，分子育种与传统育种双轮驱动，促进品 种研发效率进一步提升，品种选育质量进一步提高，公司水稻、玉米等绿色优 质高产品种布局进一步完善。 水稻新品种方面：一是品种综合性状显著提升。以飓两优 6 号、飓两优 5287、飓两优 8247、琮两优 8247 等为代表的新品种，区试增产 5%以上，中抗 稻瘟病、 ...