Core Points - The 2025 National Science and Technology Awards nomination process is underway, with over 1300 achievements nominated for the general category and around 200 for the specialized category [1] - The National Science and Technology Award is the highest honor in China's science and technology sector, with a maximum of two recipients each year [1] - A total of 16 scientists, including 15 academicians, are proposed for the National Science and Technology Award [2] Group 1: National Science and Technology Awards - The nomination deadline for the general projects is June 30, 2025, with over 120 units participating in the nomination process [1] - The proposed nominees for the National Science and Technology Award include notable figures from various fields, such as crop genetics, marine geology, and aerospace engineering [2] - The awards aim to recognize outstanding contributions in the field of science and technology, with a focus on innovation and research [1][2] Group 2: Nominees for the National Science and Technology Awards - The list of nominees includes prominent scientists such as Fu Tingdong from Huazhong Agricultural University and Wang Pinxian from Tongji University [2] - The nominees represent a diverse range of disciplines, including geochemistry, computer science, and agricultural science [2] - The nomination process involves various stakeholders, including national ministries, provincial governments, and academic institutions [1][2] Group 3: Summary of Achievements - A total of 115 nominating units have submitted over 1290 achievements for the three major national science and technology awards, including the Natural Science Award, the Technological Invention Award, and the Science and Technology Progress Award [3] - Among these, 17 achievements are nominated for the Special Prize for Science and Technology Progress [3] - The achievements cover a wide array of research areas, highlighting the innovative efforts within the scientific community [3]

Investment Rating - The industry rating is "Recommended" [3] Core Insights - The report emphasizes the importance of the pig farming sector amidst stricter environmental regulations and rising pork prices, suggesting a focus on investment opportunities in this area [2][12] - The report highlights the expected increase in autumn grain production, driven by favorable soil conditions and government initiatives aimed at enhancing crop yields [1][11] Summary by Sections Planting Industry Chain - The current main flood season poses risks for agricultural disasters, with regional droughts and floods expected [1] - The Ministry of Agriculture aims to achieve a grain production target of approximately 1.4 trillion jin, focusing on key crops and regions [1][11] - The commercialization of genetically modified crops is anticipated to accelerate, enhancing self-sufficiency in key varieties [1][11] - Recommended stocks include Beidahuang and Suqian Agricultural Development in the planting sector, and leading seed companies like Longping High-Tech and Denge Seed Industry [1][11] Pig Farming - The average price of external three-way cross pigs is 15.17 yuan/kg, with a week-on-week increase of 4.97% [2][12] - The number of breeding sows is projected to reach 40.42 million by May 2025, with a slight increase from previous periods [2][12] - The report suggests focusing on companies with significant cost improvements and high future output elasticity, including Dekang Agriculture, Jingji Zhino, Muyuan Foods, and Wen's Foodstuffs [2][12] Key Agricultural Product Data Tracking - Corn: The average price is 2435.68 yuan/ton, with a week-on-week increase of 0.37% [24] - Wheat: The average price is 2450.52 yuan/ton, with a week-on-week increase of 0.18% [27] - Rice: The average price is 2892 yuan/ton, remaining stable [32] - Soybeans: The average price is 3926.32 yuan/ton, with a week-on-week decrease of 0.30% [39] - Cotton: The average price is 15130 yuan/ton, with a week-on-week increase of 1.54% [44] Feed and Vitamin Prices - The average price of pig feed is 2.69 yuan/kg, with a week-on-week increase of 0.75% [50] - Vitamin E averages 69.90 yuan/kg, with a week-on-week decrease of 5.16% [57]

Investment Rating - The report rates the agricultural, forestry, animal husbandry, and fishery industry as "Overweight" due to expected overall profit improvement in the sector [3][4]. Core Insights - The report highlights that the profitability of pig farming is expected to improve, with a stable pig price and a significant increase in average profit per head for self-bred pigs [4]. - Poultry farming shows a mixed outlook, with white chicken prices bottoming out and yellow chicken profitability declining, while egg-laying chicks continue to experience high demand [4]. - The pet food sector is projected to maintain high growth, with leading companies showing strong online sales growth, despite a decline in exports to the U.S. due to tariffs [4]. - Animal health is recovering, with increased demand for vaccines and improved sales of veterinary preparations [4]. - The seed industry faces challenges with declining corn prices and increased competition, leading to pressure on the performance of leading seed companies [4]. Summary by Sections Pig Farming - The average price of pigs in H1 2025 is expected to be 14.80 CNY/kg, a decrease of 4.2% year-on-year, while the average profit for self-bred pigs is projected at 69.04 CNY/head, recovering from a loss of 24.82 CNY/head in H1 2024 [4]. Poultry Farming - White chicken prices are under pressure due to oversupply, with the average price for commodity broiler chicks at 2.4 CNY/bird, down 21% year-on-year. Yellow chicken prices are also declining, with the average price for Qingjiao chicken at 8.9 CNY/kg, down 19% year-on-year [4]. Pet Food - The domestic pet food market is experiencing a growth rate of 17% in online GMV for the first five months of 2025, compared to 14% in the same period of 2024. Leading companies like Guibao Pet and Zhongchong Co. show growth rates of 51% and 26%, respectively [4]. Animal Health - The demand for veterinary vaccines has increased, with a 15.8% year-on-year rise in vaccine approvals in the first five months of 2025. Prices for veterinary preparations like Tylosin and Tiamulin have increased by 39.8% and 9.3%, respectively [4]. Seed Industry - The corn seed market is under pressure due to falling corn prices and high competition, leading to a decline in seed prices and performance expectations for leading seed companies [4].

Group 1: Core Insights - Yantai City is strategically planning and innovating to enhance agricultural high-quality development through "seed industry revitalization" [1] - The city has established a dual financial support system to ensure the high-quality development of the seed industry, allocating 25 million yuan annually from the municipal budget for three consecutive years [1] Group 2: Innovation and Research - Yantai has built 17 national-level innovation platforms and 7 academician workstations, with 765 new crop varieties registered [2] - The city has formed 53 breeding teams and has seen significant results in technology transfer, generating over 29 million yuan from the commercialization of 28 new varieties since 2021 [2] Group 3: Industry Growth - Leading enterprises in Yantai, such as Shandong Denghai Seed Industry Co., Ltd., have a combined market value nearing 10 billion yuan, contributing to a projected revenue of over 10 billion yuan for the seed industry in 2024 [2] - The city is fostering an integrated development model of "research-production-sales" to enhance the seed industry [2] Group 4: Agricultural Impact - Yantai has established over 200,000 acres of seed production bases, achieving a seed coverage rate of over 98% for major crops [3] - The "Yannong 1212" wheat variety has increased yields by 20 kg per mu, while the "Yanjinmi" apple variety has a market price exceeding 10 yuan per pound, yielding over 30,000 yuan per mu [3] Group 5: Regulatory Measures - Yantai has implemented a regulatory enforcement plan to strengthen management responsibilities and enhance market supervision, achieving a seed inspection pass rate of 98% for corn and wheat [4] - The city is actively promoting intellectual property rights in the seed industry and conducting public awareness campaigns to foster a fair competitive environment [4]

Investment Rating - The industry investment rating is maintained as "Add" [6] Core Views - The agricultural sector underperformed the market by 1.15 percentage points during the week of June 23-27, 2025, with the Shenwan Agricultural Index closing at 2,661.46, reflecting a weekly increase of 0.80% [1][16] - The pig farming sector shows a bullish sentiment with pig prices continuing to rebound, reaching an average price of 14.72 CNY/kg, a week-on-week increase of 3.52% [2] - The poultry sector is facing downward pressure, with broiler prices remaining low due to high inventory levels in the downstream slaughtering sector [2] - Grain prices such as wheat and corn have seen slight increases, while soybean meal prices have decreased due to increased supply from oil mills [3] Summary by Sections 1. Market Review - The agricultural sector's weekly performance ranked 25th among 31 Shenwan first-level industries, with the fishery sector performing the best with a 4.90% increase [1][18] - The animal health, agricultural product processing, planting, and breeding sectors also saw increases of 3.13%, 2.10%, 1.44%, and 0.28% respectively, while the feed sector declined by 0.32% [1][18] 2. Industry Key Data 2.1 Pig Farming - The average profit for self-bred pigs is 50.25 CNY/head, up 30.84 CNY/head week-on-week, while the profit for purchased piglets is -131.71 CNY/head, an increase of 55.08 CNY/head week-on-week [2][24] 2.2 Poultry - The average price of broiler chicks is 1.70 CNY/chick, down 8.60% week-on-week, and the average price of white feather broilers is 7.01 CNY/kg, down 1.54% week-on-week [2][32] 2.3 Agricultural Products - The average price of wheat is 2,446.39 CNY/ton, up 0.19% week-on-week, and corn is 2,352.86 CNY/ton, up 0.43% week-on-week. Soybean meal prices have decreased to a range of 2,900-3,100 CNY/ton [3][35] 3. Investment Recommendations - The report suggests focusing on investment opportunities in the planting industry chain due to increasing geopolitical tensions affecting food security [4] - For pig farming, companies with strong cost control or clear cost reduction paths are recommended, including Muyuan Foods, Wens Foodstuff Group, and others [4] - In the poultry sector, attention is drawn to integrated industry leaders like Shengnong Development and Lihua Stock for their stable capacity expansion and cost advantages [4] - The feed sector is expected to benefit from the recovery of livestock inventory, with recommendations for industry leaders like Haida Group and Hefeng Stock [4] - For agricultural products, companies like Suqian Agricultural Development and Beidahuang are highlighted for their relevance to food security [4]

Group 1: Core Insights - The report emphasizes the importance of policy measures to regulate breeding sow capacity, which may elevate the price center for pigs in 2025-2026, benefiting the poultry sector and leading feed companies [1][38]. - The report highlights the increasing focus on food security amid frequent extreme weather events and trade tensions, suggesting a strategic shift in the agricultural sector [1]. Group 2: Swine Farming - In the first half of 2025, pig prices remained strong, influenced by slow recovery in breeding sow capacity and proactive market behavior before holidays, leading to a stable price range of 14.0-15.0 yuan/kg [12][15]. - The report anticipates limited growth in pig supply for 2025 due to cautious replenishment by producers, with expectations for pig prices to remain favorable in the second half of 2025 [15][31]. - Key companies recommended for investment in the swine sector include Muyuan Foods and WH Group, noted for their cost advantages and strong performance [38]. Group 3: Poultry Farming - The report is optimistic about the white-feathered chicken breeding sector, expecting a tightening supply of parent stock in the second half of 2025, which will positively impact the market [40][58]. - For yellow-feathered chickens, the report indicates that the current low inventory of parent stock, combined with reduced production costs, sets the stage for potential price recovery and profit expansion [52][58]. - Recommended companies in the poultry sector include Lihua Agricultural and Dekang Agriculture, which are expected to benefit from improving market conditions [58]. Group 4: Feed and Veterinary Services - The report notes a recovery in demand for feed products as the breeding sector improves, with a positive outlook for companies like Haida Group, which is well-positioned to capitalize on this trend [6][38]. - The veterinary services sector is also expected to see a recovery in demand, with a focus on leading companies in the animal health space [38]. Group 5: Seed Industry - The report highlights the rising importance of food security, with a focus on the seed industry, particularly in rice and corn, as the sector enters a phase of recovery and growth [38]. - The hybrid rice seed industry is expected to see improved supply-demand dynamics, while corn prices are rebounding, encouraging farmer planting enthusiasm [38][58]. - Recommended companies in the seed sector include Longping High-Tech and Dabeinong, which are anticipated to benefit from these trends [38].

Investment Rating - The industry rating is "Recommended" [3] Core Insights - The report highlights that the sentiment in the pork market is supporting an upward shift in pork prices, with the average price for external three-line pigs at 14.20 CNY/kg, reflecting a week-on-week increase of 1.43% [2][12] - The report emphasizes the importance of increasing soybean and oilseed production, with a focus on enhancing yield through advanced agricultural practices and the promotion of genetically modified varieties [1][11] - The report suggests that while short-term consumer demand is recovering, supply remains relatively loose, but medium to long-term projections indicate that pork prices may exceed expectations in the second half of 2025 due to slow recovery in production capacity [2][12] Summary by Sections Planting Industry Chain - The Ministry of Agriculture and Rural Affairs held a meeting to discuss the production and demand situation for soybeans and oilseeds, emphasizing the need to enhance production capacity and implement key measures for yield improvement [1][11] - The report identifies potential beneficiaries in the planting sector, including Beidahuang and Suqian Agricultural Development, and recommends companies with a strong first-mover advantage in the seed industry such as Dabeinong and Longping High-Tech [1][11] Swine Farming - The average price of external three-line pigs is reported at 14.20 CNY/kg, with a significant increase in slaughter volume and consumer demand noted [2][12] - The report indicates that the number of breeding sows has decreased slightly, and the profitability of self-breeding operations has turned positive, suggesting a potential for recovery in the swine sector [2][12] - Recommended stocks in the swine farming sector include companies like Muyuan Foods, Wens Foodstuff Group, and DeKang Agriculture [2][12] Key Agricultural Product Data Tracking - Corn: The average price is 2412.94 CNY/ton, with a week-on-week increase of 0.54% [26] - Wheat: The average price is 2440.61 CNY/ton, with a week-on-week increase of 0.46% [29] - Soybeans: The average price is 3946.32 CNY/ton, with a week-on-week increase of 0.21% [40] - Cotton: The average price is 14760.00 CNY/ton, with a week-on-week increase of 0.15% [45] Feed and Vitamin Prices - The average price of pig feed is reported at 2.69 CNY/kg, with a week-on-week increase of 0.75% [51] - Vitamin E prices have decreased by 10.02% to 80.80 CNY/kg [51][59]

Group 1: Pet Economy - The pet economy continues to show high growth, with over 400 pet brands achieving sales growth of over 100% year-on-year during the "618" shopping festival [1] - The number of pet transaction users increased by 32% year-on-year, while new pet owners grew by 39% [1] - Top brands in various pet food categories include Royal Canin and Maffidi for cat and dog dry food, and Maffidi and Zeal for cat and dog snacks/wet food [1] Group 2: Pig Prices - The average price of external three yuan pigs rose to 14.22 yuan/kg, a week-on-week increase of 1.43% [2] - The average price of piglets decreased to 31.85 yuan/kg, down 3.16% week-on-week [2] - The average weight of market pigs decreased slightly to 128.28 kg, while the inventory rate of frozen products increased to 14.04% [2] Group 3: Grain Prices - Prices for corn, soybean meal, and wheat have increased, with corn averaging 2417.06 yuan/ton (up 0.47%), soybean meal at 3015.14 yuan/ton (up 1.59%), and wheat at 2441.67 yuan/ton (up 0.46%) [3] - Weather conditions and trade dynamics are influencing corn prices, while soybean meal prices are affected by supply concerns from the U.S. and geopolitical tensions [3] Group 4: Investment Recommendations - The pig farming sector is expected to enter a long-term profit growth phase after inventory reduction, with recommended companies including Juxing Agriculture, Shennong Group, and Muyuan Foods [4] - The post-cycle sector is seeing a recovery in feed and veterinary demand, with companies like Haida Group and Ruipu Biotech recommended [4] - The planting chain is showing positive fundamentals with rising grain prices, suggesting investment opportunities in companies like Suqian Agricultural Development and Beidahuang [4] - The pet food industry is in a growth phase, with increasing recognition of domestic brands and recommended companies including Guibao Pet and Zhongchong Co. [4]

Group 1 - The grain concept sector rose by 1.30%, ranking 9th among concept sectors, with 23 stocks increasing in value, including Qiu Le Seed Industry, Kang Nong Seed Industry, and Shen Nong Seed Industry, which rose by 11.99%, 10.91%, and 8.29% respectively [1] - The top gainers in the grain concept sector included Jinhe Biological, with a net inflow of 67.34 million yuan, followed by Denghai Seed Industry, Longping High-Tech, and COFCO Technology, with net inflows of 38.17 million yuan, 36.26 million yuan, and 35.14 million yuan respectively [2][3] - The main capital inflow ratios were led by Denghai Seed Industry, Jingliang Holdings, and Jinhe Biological, with net inflow rates of 13.59%, 12.33%, and 8.93% respectively [3] Group 2 - The grain concept sector saw a net inflow of 189 million yuan, with 22 stocks receiving net inflows, and 6 stocks exceeding 30 million yuan in net inflow [2] - The stocks with the highest trading turnover included Jinhe Biological at 15.46%, Denghai Seed Industry at 3.15%, and Longping High-Tech at 3.10% [3][4] - The overall performance of the grain concept sector was positive, with several stocks showing significant gains, while some stocks like Weiwei Co., Lianhua Holdings, and Luoping Zinc Electric experienced declines of 2.92%, 2.06%, and 1.89% respectively [1][5]

Investment Rating - The industry investment rating is maintained as "Increase" for the agricultural sector [6] Core Viewpoints - The agricultural sector outperformed the market by 0.03 percentage points during the week of June 3-6, 2025, with the index closing at 2,682.22, reflecting a weekly increase of 0.91% [1][15] - The pig farming sector is experiencing a downward trend in prices, with the average price of pigs at 14.05 yuan/kg, a week-on-week decrease of 2.43% and a year-on-year decrease of 23.89% [2] - The poultry sector is seeing stable chick prices but weak adjustments in meat chicken prices due to high inventory levels in downstream slaughtering [2] - In the agricultural products segment, wheat and soybean meal prices are weak, while japonica rice prices have increased [3] Summary by Sections 1. Market Review - The agricultural sector index rose by 0.91% and ranked 20th among 31 sectors [1][15] - The fishery sector showed the best performance with a 1.34% increase, followed by planting, feed, agricultural product processing, and breeding sectors [1][17] 2. Industry Key Data 2.1 Pig Farming - The average price of pigs is 14.05 yuan/kg, down 2.43% week-on-week and down 23.89% year-on-year [2] - Self-breeding profits are at 33.83 yuan/head, a decrease of 1.82 yuan/head week-on-week, while profits from purchased piglets are at -120.80 yuan/head, down 36.43% week-on-week [2] 2.2 Poultry - The average price of meat chicken chicks is 2.84 yuan/chick, down 1.05% week-on-week, and the price of white feather meat chickens is 7.32 yuan/kg, down 0.68% week-on-week [2] 2.3 Agricultural Products - The average price of wheat is 2,433.61 yuan/ton, down 0.82% week-on-week; japonica rice is at 2,876.00 yuan/ton, up 0.42% week-on-week; and soybean meal is at 2,940.00 yuan/ton, down 0.54% week-on-week [3] 3. Investment Recommendations - The report suggests focusing on the aquaculture feed industry due to the upcoming sales peak in summer and rising prices of certain fish species [4] - In pig farming, companies with strong cost control or clear cost reduction paths are recommended, including Muyuan Foods, Wens Foodstuff Group, and others [4] - For poultry, attention is drawn to integrated industry leaders like Shengnong Development and Lihua Stock for their stable expansion and cost advantages [4] - In the feed sector, companies like Haida Group and Hefeng Stock are highlighted for benefiting from the recovery in livestock inventory [4] - For agricultural products, companies like Suqian Agricultural Development and Beidahuang are recommended for their focus on food security [4]