Core Viewpoint - The company, Denghai Seeds (002041), emphasizes its commitment to technological advancements in the seed industry, focusing on breeding high-yield and stress-resistant corn varieties to contribute to national food security [1] Group 1: Company Initiatives - The company is identified as a technology-driven enterprise in the seed industry, continuously increasing investments to enhance research and breeding capabilities [1] - Denghai Seeds aims to develop corn seeds that are both high-yielding and resilient to adverse conditions, aligning with national food security goals [1] Group 2: Market Considerations - The company acknowledges the inherent risks in the market and advises investors to exercise caution [1]

Investment Rating - The report maintains a "Recommendation" rating for the agricultural sector, indicating a positive outlook for the industry fundamentals [14]. Core Insights - The USDA's January report revises global corn, soybean, and wheat production forecasts upwards, suggesting a more favorable supply situation for these crops [14]. - The report highlights a significant narrowing of the global corn supply-demand gap, with total demand expected to reach a record 1.3 billion tons for the 2025/26 season [1][2]. - Global wheat supply is projected to be ample, with an increase in the ending stock-to-use ratio, which is expected to rise to 33.8% for the 2025/26 season [7][8]. - The soybean market is characterized by a slight increase in global production expectations, primarily driven by favorable conditions in Brazil and the U.S., despite a minor downward adjustment in China's production [10][11]. Summary by Sections Corn - The USDA report revises the 2025/26 global corn production forecast upwards by approximately 13.05 million tons to 1.296 billion tons, a 5.3% increase year-on-year [1]. - The U.S. corn production is adjusted to a record 170 million bushels, reflecting a 14.3% increase from the previous year [2]. - The global corn ending stock-to-use ratio is projected at 22.4%, down 1.16 percentage points from the previous year [1][5]. Wheat - The global wheat production forecast is raised by about 4.36 million tons to 842 million tons for the 2025/26 season, a 5.2% year-on-year increase [7]. - The report indicates a total global wheat consumption increase of 0.11% year-on-year, with a projected surplus of 18.26 million tons [7][8]. - The ending stock-to-use ratio for wheat is expected to increase to 33.8%, reflecting a more comfortable supply situation [7][8]. Soybeans - The global soybean production forecast is increased by approximately 3.14 million tons to 426 million tons for the 2025/26 season, despite a slight decrease in China's production [10][12]. - U.S. soybean production is adjusted to 116 million tons, a 2.6% decrease year-on-year, while total consumption is expected to rise by 5.6% [11][13]. - The global soybean ending stock-to-use ratio is projected at 29.4%, down 0.44 percentage points from the previous year [10][12].

Group 1 - The core point of the article is that Denghai Seed Industry (002041) reported a total of 63,104 shareholders as of January 10, 2026 [1]

Investment Rating - The industry rating is "Recommended" [4] Core Views - The sentiment in the pork market has significantly improved, with a notable reduction in losses for pig farming. The average price of live pigs is currently 12.55 CNY/kg, remaining stable week-on-week. The number of breeding sows has decreased by 1.1% month-on-month and 2.1% year-on-year, indicating a steady adjustment in pig production capacity [2][12] - The Ministry of Agriculture and Rural Affairs has initiated a nationwide inspection of winter crop seeds to ensure safety for the upcoming spring and summer planting seasons. This includes a focus on key crops such as corn, rice, soybeans, cotton, and vegetables. The commercialization of genetically modified seeds is expected to accelerate, enhancing self-sufficiency rates for critical varieties [1][11] Summary by Sections Planting Industry Chain - The Ministry of Agriculture is conducting inspections to ensure seed quality and compliance, which is crucial for agricultural production safety. The emphasis on genetically modified technology is expected to revolutionize yield improvements, with companies like Beidahuang and Suqian Agricultural Development likely to benefit [1][11] Pig Farming - The average price of live pigs is 12.55 CNY/kg, with a slight increase in slaughter volume by 17.4% year-on-year. The market sentiment has improved significantly, with a reduction in losses for self-bred and purchased pig farming, indicating a potential for recovery in the sector. Recommended stocks include companies like Muyuan Foods and Wens Foodstuffs [2][12] Key Agricultural Product Data Tracking - Corn: The average price is 2353.51 CNY/ton, with a slight increase of 0.09% week-on-week. The international price is 5.21 USD/bushel, up 2.11% [26][27] - Wheat: The domestic average price is 2513.62 CNY/ton, down 0.09% week-on-week. The international price is 5.82 USD/bushel, down 0.13% [29][31] - Soybeans: The domestic average price is 4048.42 CNY/ton, up 0.63% week-on-week. The international price is 405.95 USD/ton, up 0.74% [39][43] - Cotton: The average price in Xinjiang is 15530.00 CNY/ton, up 0.84% week-on-week [45][49] Feed and Vitamin Prices - The average price of pig feed is 2.64 CNY/kg, with a week-on-week increase of 0.76%. The prices for chicken feed and egg-laying hen feed remain stable [52][54]

Core Viewpoint - The company, Denghai Seeds (002041.SZ), has successfully developed and received approval for 12 new corn varieties from the National Crop Variety Approval Committee, indicating a significant advancement in its research and development capabilities [1] Group 1: Company Developments - Denghai Seeds announced the approval of 12 new corn varieties, including "Denghai 359," "Denghai 992," "Denghai 997," "Denghai 2335," "Denghai 2367," "Denghai 2368," "Denghai 2378," "Denghai 2379," "Denghai 2388," "Denghai 3159," "Denghai YY226," and "Denghai Yuyou 635" [1] - The approval was granted during the eighth meeting of the fifth National Crop Variety Approval Committee, showcasing the company's commitment to innovation in agricultural biotechnology [1] Group 2: Industry Impact - The successful approval of these new corn varieties is expected to enhance the competitive position of the company within the agricultural sector, potentially leading to increased market share and revenue growth [1] - The introduction of these varieties may also contribute to advancements in crop yield and agricultural efficiency, aligning with industry trends towards improved food security and sustainable farming practices [1]

Core Viewpoint - The company, Denghai Seeds (002041.SZ), has successfully developed and received approval for 12 new corn varieties from the National Crop Variety Approval Committee, indicating a significant advancement in its research and development capabilities [1]. Group 1: Company Developments - Denghai Seeds has developed a total of 12 new corn varieties, including "Denghai 359," "Denghai 992," "Denghai 997," "Denghai 2335," "Denghai 2367," "Denghai 2368," "Denghai 2378," "Denghai 2379," "Denghai 2388," "Denghai 3159," "Denghai YY226," and "Denghai Yuyou 635" [1]. - These new varieties have been approved during the eighth meeting of the fifth National Crop Variety Approval Committee, showcasing the company's commitment to innovation in agricultural biotechnology [1]. Group 2: Industry Impact - The approval of these new corn varieties is expected to enhance the competitive position of Denghai Seeds in the agricultural sector, potentially leading to increased market share and revenue growth [1]. - The successful development and approval of these varieties reflect broader trends in the agricultural industry towards improved crop yields and resilience, aligning with global demands for food security [1].

Core Viewpoint - The company, Denghai Seeds, announced the approval of 12 new corn varieties by the National Crop Variety Approval Committee, indicating a significant advancement in its product offerings and potential market expansion [1] Group 1: Company Developments - Denghai Seeds has developed 12 new corn varieties, including "Denghai 359," "Denghai 992," "Denghai 997," "Denghai 2335," "Denghai 2367," "Denghai 2368," "Denghai 2378," "Denghai 2379," "Denghai 2388," "Denghai 3159," "Denghai YY226," and "Denghai Yuyou 635" [1] - The approval was granted during the eighth meeting of the fifth session of the National Crop Variety Approval Committee, showcasing the company's commitment to innovation in agricultural biotechnology [1] Group 2: Industry Impact - The successful approval of these new varieties may enhance the competitive position of Denghai Seeds in the agricultural sector, potentially leading to increased market share and revenue growth [1] - The introduction of these varieties could also contribute to advancements in crop yield and agricultural efficiency, aligning with industry trends towards improved food production [1]

山东登海种业股份有限公司 1 证券代码 ：002041 证券简称：登海种业 公告编号：2026-001 山东登海种业股份有限公司 关于玉米新品种通过国家品审会审定的公告 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。 山东登海种业股份有限公司（以下简称"公司"）及公司控股子（孙） 公司自主研发的玉米新品种"登海 359""登海 992""登海 997""登海 2335" "登海 2367""登海 2368""登海 2378""登海 2379""登海 2388""登海 3159""登海 YY226""登海宇玉 635"共计 12 个玉米新品种，已经第五届 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，品种名称等 信息经公示无异议，现予公告。 山东登海种业股份有限公司 | 序 号 | 品种 名称 | 审定编号 | 申请者 | 育种者 | 农艺性状 | 适宜种植区域 | | --- | --- | --- | --- | --- | --- | --- | | | | | | | 特征特性：东华北中熟春玉米组出苗至成熟 129.2 | 审定意见：该品种符合国 ...

Investment Rating - Industry Rating: Recommended [4] Core Insights - The pork industry continues to face losses, with a focus on pig farming opportunities. The average price of live pigs is 11.59 CNY/kg, down 0.46% week-on-week. The total breeding sow inventory is 39.9 million heads, down 1.1% month-on-month and 2.1% year-on-year. The industry is experiencing ongoing losses, with self-bred and purchased pig farming losses at 130.11 CNY/head and 162.80 CNY/head respectively. The recent anti-dumping ruling may alleviate domestic pork supply pressure, leading to accelerated capacity reduction [2][12]. Summary by Sections Planting Industry Chain - The Ministry of Agriculture and Rural Affairs has initiated winter crop seed supervision checks to ensure seed safety for the upcoming spring and summer planting. The checks focus on key crops such as corn, rice, soybeans, cotton, and vegetables. The commercialization of genetically modified technology is expected to accelerate, enhancing self-sufficiency rates of key varieties. Recommended stocks include Beidahuang and Suqian Agricultural Development [1][11]. Pig Farming - The average price of live pigs is reported at 11.59 CNY/kg, with a slight decrease of 0.46% from the previous week. The average price for pig futures is 11,469 CNY/ton, reflecting a 1.07% increase. The average weight of pigs post-slaughter is 89.57 kg, with a month-on-month increase of 3.21% in slaughter volume [12][62][65]. Recommended Stocks - For pig farming, recommended stocks include: 1. Livestock sector: Lihua Stock, Muyuan Food, Shuanghui Development, Dekang Agriculture, Jingji Zhino, and Wens Foodstuff 2. Feed sector: Haida Group 3. Animal health sector: Jinhai Biological, Biological Shares, Placo, and Zhongmu Shares [2][12].

证券日报网讯12月22日，登海种业（002041）在互动平台回答投资者提问时表示，公司截至12月20日公 司的股东人数是63321户。 ...