Investment Rating - The report maintains an "Overweight" rating for the agriculture, forestry, animal husbandry, and fishery industry [45][46]. Core Insights - The SW agriculture, forestry, animal husbandry, and fishery industry slightly underperformed the CSI 300 index, with an increase of 0.74% from July 4 to July 17, 2025, lagging behind the index by approximately 0.93 percentage points [11][14]. - Most sub-sectors recorded positive returns during the same period, with animal health, agricultural product processing, breeding, and planting sectors increasing by 8.71%, 2.56%, 1.42%, and 0.46% respectively, while the fishery and feed sectors saw declines of 1.8% and 4.2% [14][15]. - The overall price-to-book (PB) ratio for the industry is approximately 2.66 times, indicating a slight recovery, but still remains at a historical low, around 59.2% of the valuation center since 2006 [21][22]. Industry Key Data - **Pig Farming**: - The average price of external three yuan pigs decreased from 15.31 CNY/kg to 14.37 CNY/kg between July 4 and July 17, 2025 [24]. - As of June 2025, the breeding sow inventory reached 40.43 million heads, slightly up by 0.02% from the previous month, which is 103.7% of the normal holding capacity of 39 million heads [24]. - The profit from self-breeding pigs is 90.89 CNY/head, while the profit from purchased piglets is -18.66 CNY/head, both showing a decline compared to the previous week [29]. - **Poultry Farming**: - The average price of broiler chicks in major production areas was 1.37 CNY/chick, showing a slight increase, while the average price of layer chicks was 3.88 CNY/chick, which slightly decreased [31]. - The average price of white feather broilers was 6.4 CNY/kg, which has also decreased, with a profit of -2.93 CNY/chick, showing a slight recovery compared to the previous week [34]. - **Feed Costs**: - The spot price of corn was 2409.12 CNY/ton, showing a decline, while soybean meal prices were 2952 CNY/ton, which fluctuated in the last two weeks [26]. Industry Outlook - The report anticipates an overall increase in pig production capacity this year, which may suppress pig prices. The breeding sow inventory has some room for reduction [45]. - The poultry sector continues to face pressure on profitability, with opportunities for marginal improvement [45]. - In the feed sector, there are opportunities arising from increased concentration among leading companies, cost reduction, and overseas expansion [45]. - The domestic pet market is expected to maintain rapid growth, with leading domestic brands likely to see significant growth [45]. Recommended Stocks - Key stocks to focus on include: - Muyuan Foods (002714) - Wens Foodstuff Group (300498) - Shennong Development (002299) - Haida Group (002311) - Bio-Stock (600201) - Zhongchong Co., Ltd. (002891) - Yiyi Co., Ltd. (001206) [46].

Group 1 - The company held its second extraordinary general meeting of shareholders and the first employee representative meeting of 2025 on July 11, 2025, where the fourth board of directors was elected [1] - The meeting was attended by all 14 directors, and the procedures complied with relevant laws and regulations [1][2] - The board unanimously elected non-independent director Gao Fuzhong as the chairman of the fourth board of directors, with a term starting from the approval date until the board's term ends [2] Group 2 - The board approved the election of members for various specialized committees, including the Strategy Committee, Audit Committee, Nomination Committee, and Compensation and Assessment Committee, with all votes in favor [3][4] - Gao Fuzhong was appointed as the chairman of the Strategy Committee, while Liu Ying was appointed as the chairman of the Audit Committee [3] - The board also approved the appointment of Gao Fuzhong as the general manager and several other executives, including Lu Junmei and Gao Jian as deputy general managers [4] Group 3 - The board appointed Zhou Lina as the financial director and also approved the appointment of Zhou Lina as the board secretary and Zhang Beibei as the securities affairs representative [5] - All appointments are effective from the date of approval until the end of the fourth board's term [4][5]

Group 1 - The core opinion of the article is that the legal opinion letter issued by Tianjin Jinnuo Law Firm confirms the legality and validity of the procedures, qualifications, and results of the second extraordinary general meeting of shareholders of Tianjin Yiyi Hygiene Products Co., Ltd. held on July 11, 2025 [2][4][16] Group 2 - The meeting was convened in accordance with the resolutions of the company's board of directors and relevant provisions of the company's articles of association, with a notice published on June 26, 2025 [2][3] - The meeting took place at 14:00 on July 11, 2025, at the company's conference room, and the actual time and location matched the notice [3] - The network voting for the meeting was conducted through the Shenzhen Stock Exchange trading system from 9:15 to 15:00 on the same day [3] Group 3 - A total of 140 participants attended the meeting, representing 105,108,799 shares, which accounted for 57.0577% of the total voting shares [5] - The meeting included attendance from the company's directors, supervisors, and senior management, and the law firm was also present [5] Group 4 - The voting procedures and results were consistent with the meeting notice, with no new proposals or modifications made during the meeting [6] - The resolutions passed included significant support from shareholders, with 105,060,523 shares in favor, representing a substantial majority [6][7] - The resolutions required a two-thirds majority to pass, which was achieved with 105,062,703 shares voting in favor [6][10] Group 5 - The election of the fourth board of directors was conducted through cumulative voting, with several candidates successfully elected for a three-year term [12][15] - The voting results indicated a strong majority support from minority investors, with percentages of approval ranging from approximately 85.7% to 86.3% for various resolutions [9][10][14]

Meeting Attendance - The meeting was attended by a total of 140 shareholders and representatives, representing 105,108,799 shares, which is 57.0577% of the total voting shares [2] - On-site attendance included 11 shareholders and representatives, representing 104,792,031 shares, or 56.8857% of the total voting shares [2] - Online voting involved 129 shareholders, representing 316,768 shares, accounting for 0.1720% of the total voting shares [2] - Small investors present included 3 individuals on-site, representing 20,900 shares, which is 0.0113% of the total voting shares [2] Voting Results - The meeting adopted a combination of on-site and online voting, with the following results for the proposals: - Proposal 1: 105,060,523 shares in favor (99.9541%), 45,832 shares against (0.0436%), and 2,444 shares abstained (0.0023%) [2] - Small investors' votes for Proposal 1: 289,392 shares in favor (85.7031%), 45,832 shares against (13.5731%), and 2,444 shares abstained (0.7238%) [3] - Proposal 2: 105,062,703 shares in favor (99.9561%), 44,632 shares against (0.0425%), and 1,464 shares abstained (0.0014%) [3] - Small investors' votes for Proposal 2: 291,572 shares in favor (86.3487%), 44,632 shares against (13.2177%), and 1,464 shares abstained (0.4336%) [3] - Proposal 3: 105,061,503 shares in favor (99.9550%), 47,096 shares against (0.0448%), and 200 shares abstained (0.0002%) [5] - Small investors' votes for Proposal 3: 290,372 shares in favor (85.9933%), 47,096 shares against (13.9474%), and 200 shares abstained (0.0592%) [5] Board Elections - The election of the fourth board of directors included non-independent directors, with the following results: - High Fuzhong, Lu Junmei, Gao Jian, Gao Bin, Yang Bingfa, Zhou Lina, Hao Yanlin, and Cui Lianrong were elected for a term of three years [12] - The voting results for the election of independent directors included He Yongjun, Wei Yi, Liu Ya, Xiao Heyong, and Liu Ying, also for a term of three years [15] - The voting results for the independent directors showed that 104,797,912 shares were in favor, representing a significant majority [15] Legal Opinions - The legal opinions confirmed that the qualifications of attendees, voting procedures, and results complied with legal and regulatory requirements, making the resolutions of the shareholders' meeting valid [15]

Core Viewpoint - The company has completed the election of its fourth board of directors, which consists of 14 members, including 8 non-independent directors, 5 independent directors, and 1 employee representative director [1][2]. Board Composition - The fourth board of directors includes the following members: - Chairman: Mr. Gao Fuzhong (also the legal representative) - Non-independent directors: Mr. Gao Fuzhong, Ms. Lu Junmei, Mr. Gao Jian, Mr. Gao Bin, Mr. Yang Bingfa, Ms. Zhou Lina, Ms. Hao Yanlin, Ms. Cui Lianrong - Independent directors: Mr. He Yongjun, Mr. Wei Yi, Ms. Liu Ya, Mr. Xiao Heyong, Ms. Liu Ying [2][4]. Committees of the Board - The specialized committees of the fourth board of directors are composed as follows: - Strategy Committee: Chairman Mr. Gao Fuzhong, members Mr. He Yongjun, Ms. Lu Junmei - Audit Committee: Chairman Ms. Liu Ying, members Mr. Xiao Heyong, Ms. Cui Lianrong - Nomination Committee: Chairman Mr. He Yongjun, members Mr. Gao Fuzhong, Mr. Wei Yi - Compensation and Assessment Committee: Chairman Mr. Wei Yi, members Ms. Liu Ya, Ms. Zhou Lina [4][5]. Senior Management Appointments - The company has appointed the following senior management: - General Manager: Mr. Gao Fuzhong - Deputy General Managers: Ms. Lu Junmei, Mr. Gao Jian, Mr. Gao Bin, Ms. Hao Yanlin - Chief Financial Officer: Ms. Zhou Lina [5]. Departure of Previous Board Members - Following the election, the following individuals will no longer serve as independent directors or hold any other positions: Mr. Zhang Xiaoyu, Mr. Zhang Min, Mr. Yan Peng, Ms. Han Zhihong. They have not held any shares in the company as of the announcement date [6].

证券代码：001206 证券简称：依依股份 公告编号：2025-049 天津市依依卫生用品股份有限公司 关于聘任董事会秘书和证券事务代表的公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 天津市依依卫生用品股份有限公司（以下简称"公司"）于2025年7月11日召 开第四届董事会第一次会议，审议通过了《关于聘任公司董事会秘书及证券事务 代表的议案》，同意聘任周丽娜女士为公司董事会秘书（简历详见附件），同意聘 任张贝贝女士为公司证券事务代表（简历详见附件），任期自董事会审议通过之 日起至公司第四届董事会届满之日止。 周丽娜女士和张贝贝女士均已取得深圳证券交易所颁发的董事会秘书资格 证书，具备履行职责所需的专业知识和管理能力，其任职资格符合《深圳证券交 易所股票上市规则》《深圳证券交易所上市公司自律监管指引第1号——主板上市 公司规范运作》等有关规定。 公司董事会秘书、证券事务代表联系方式如下： 1、董事会秘书周丽娜女士的联系方式 联系电话：022-87986666 传真号码：022-87987888 电子邮件：zhoulina@tjyiyi.com 联系地址： ...

特此公告。 天津市依依卫生用品股份有限公司 董事会 2025 年 7 月 12 日 证券代码：001206 证券简称：依依股份 公告编号：2025-047 天津市依依卫生用品股份有限公司 关于选举职工代表董事的公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 天津市依依卫生用品股份有限公司（以下简称"公司"）第三届董事会任期 即将届满，根据《中华人民共和国公司法》（以下简称"《公司法》"）《深圳证券 交易所股票上市规则（2025年修订）》《深圳证券交易所上市公司自律监管指引第 1号——主板上市公司规范运作》等法律、法规和《天津市依依卫生用品股份有 限公司章程》（以下简称"《公司章程》"）的有关规定，公司于2025年7月11日召 开职工代表大会，经职工代表民主选举，同意选举张健先生为公司第四届董事会 职工代表董事（简历详见附件），职工代表董事张健先生将与公司股东大会选举 产生的8名非独立董事和5名独立董事共同组成公司第四届董事会，任期自本次职 工代表大会审议通过之日起，至第四届董事会届满之日止。 张健先生担任职工代表董事之后，公司第四届董事会成员中兼任公司高 ...

证券代码：001206 证券简称：依依股份 公告编号：2025-050 天津市依依卫生用品股份有限公司 关于完成董事会换届选举及聘任高级管理人员的公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 天津市依依卫生用品股份有限公司（以下简称"公司"）第三届董事会、监 事会任期即将届满，根据《中华人民共和国公司法》（以下简称"《公司法》"）、 《深圳证券交易所股票上市规则》《深圳证券交易所上市公司自律监管指引第1 号——主板上市公司规范运作》等法律、法规和《天津市依依卫生用品股份有限 公司章程》（以下简称"《公司章程》"）的有关规定，公司于2025年7月11日召开 2025年第二次临时股东大会、2025年第一次职工代表大会，分别审议通过了《关 于修订<公司章程>及相关议事规则的议案》《关于选举第四届董事会非独立董事 的议案》《关于选举第四届董事会独立董事的议案》和《关于选举公司第四届董 事会职工代表董事的议案》。 经全体董事一致同意，豁免董事会通知时限要求，同日公司召开了第四届董 事会第一次会议，选举产生了董事长、各专门委员会委员和高级管理人员。公司 第四届董事 ...

天津金诺律师事务所 关于天津市依依卫生用品股份有限公司 2025 年第二次临时股东大会 律师见证法律意见书 Tel：86-22-23133590 Fax：86-22-23133597 http://www.winlawfirm.com 二〇二五年七月 目 录 | 一、本次股东大会的召集、召开程序 2 | | --- | | 二、出席本次股东大会人员资格 3 | | 三、本次股东大会的表决程序和表决结果 4 | | 四、结论意见 8 | 天津市区：中国·天津和平区徐州道 12 号万通中心 23 层 邮编 300042 滨海新区：中国·天津市滨海新区新城西路 5 号周大福金融中心 2204-2205 邮编 300450 天津金诺律师事务所 关于天津市依依卫生用品股份有限公司 2025 年第二次临时股东大会 律师见证法律意见书 致：天津市依依卫生用品股份有限公司 天津金诺律师事务所（以下简称"本所"）接受天津市依依卫生用品股份有 限公司（以下简称"公司"）的委托，指派本所律师对公司 2025 年 7 月 11 日召 开的 2025 年第二次临时股东大会进行见证并出具法律意见书。本所指派律师通 过现场方式对本次股东大 ...

证券代码：001206 证券简称：依依股份 公告编号：2025-046 天津市依依卫生用品股份有限公司 2025年第二次临时股东大会决议公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 特别提示： 1、本次股东大会没有出现否决议案的情况； 2、本次股东大会不涉及变更以往股东大会已通过决议的情况； 一、会议召开和出席的情况 1、会议召开时间： （1）现场会议召开时间：2025年7月11日下午14:00。 （2）网络投票时间：通过深圳证券交易所交易系统进行网络投票的具体时 间为：2025年7月11日上午9:15-9:25，9:30-11:30，下午13:00-15:00；通过深圳证 券交易所互联网投票系统投票的具体时间为：2025年7月11日9:15-15:00期间的任 意时间。 2、会议召开方式：本次股东大会采取现场投票与网络投票相结合的方式。 3、会议召开地点：天津市西青区张家窝镇工业园天津市依依卫生用品股份 有限公司会议室。 4、会议召集人：公司第三届董事会。 5、会议主持人：公司董事长高福忠先生。 6、本次会议的召集、召开符合有关法律、行政法规、部门规 ...