SDDSC(002041)

Search documents
农林牧渔行业周报第18期:夏粮收获三成,猪价震荡运行
HUAXI Securities· 2025-06-03 08:10
Investment Rating - The industry rating is "Recommended" [3] Core Views - The planting industry chain is progressing well, with 1.29 million acres of summer grain wheat harvested as of May 30, 2025, which is over 30% of the total expected harvest. Regions such as Hubei, Sichuan, and South China have completed their wheat harvests, while Anhui has surpassed 80% and Henan over 60% [1][9] - The Ministry of Agriculture and Rural Affairs emphasizes the importance of tracking weather changes and preparing for emergency harvesting to ensure timely collection of mature wheat. The commercialization of genetically modified technology is expected to accelerate, enhancing self-sufficiency in key varieties [1][9] - In the pig farming sector, the average price of external three-way cross pigs is 14.39 CNY/kg, with a week-on-week increase of 0.36%. The number of breeding sows is 40.38 million, showing a slight decrease [2][10] - The report suggests that while short-term consumer demand is recovering, supply remains relatively loose. However, due to slow recovery in production capacity in 2024, pig prices are expected to exceed expectations in the second half of 2025 [2][10] Summary by Sections Planting Industry - As of May 30, 2025, 1.29 million acres of summer grain wheat have been harvested, with significant progress in various provinces. The upcoming rainfall is beneficial for soil conditions and will facilitate mechanized sowing [1][9] - The Ministry of Agriculture will focus on ensuring the timely harvesting of wheat and improving mechanization to enhance yield [1][9] - Recommended stocks in the planting sector include Beidahuang and Suqian Agricultural Development, with a focus on leading seed companies like Longping High-Tech and Dabeinong [1][9] Pig Farming - The average price of pigs is 14.39 CNY/kg, with a slight increase from the previous week. The number of breeding sows has decreased slightly, while slaughtering volume has increased significantly year-on-year [2][10] - The report highlights the need to monitor cost improvements and suggests stocks such as Dekang Animal Husbandry, Jinke Intelligent Agriculture, and Muyuan Foods for potential investment [2][10] Market Performance - The agricultural sector index increased by 1.79% during the week of May 26 to May 30, 2025, outperforming major indices like the Shanghai Composite and Shenzhen Component [11][12] - The top-performing sub-sectors include aquaculture and livestock farming, indicating a positive trend in the agricultural market [11][12]
农林牧渔行业周报第18期:夏粮收获三成,猪价震荡运行-20250603
HUAXI Securities· 2025-06-03 05:05
Investment Rating - Industry Rating: Recommended [3] Core Views - The planting industry is seeing significant progress with summer grain wheat harvest, reaching over 30% completion as of May 30, with favorable weather conditions expected to enhance soil moisture and facilitate mechanized sowing [10][11] - The commercialization of genetically modified crops is anticipated to accelerate, aiming to improve yield and self-sufficiency in key varieties, supported by government initiatives to protect new plant varieties [10] - In the pig farming sector, the average price of live pigs is showing a slight increase, with a current price of 14.39 CNY/kg, reflecting a week-on-week rise of 0.36% [11][60] - The supply of breeding sows has slightly decreased, with a total of 40.38 million heads reported, while slaughtering volumes have increased significantly year-on-year [11][60] Summary by Sections Planting Industry - As of May 30, 1.29 million acres of summer wheat have been harvested, with regions like Hubei and Sichuan completing their harvests [10] - The Ministry of Agriculture emphasizes the importance of mechanization to enhance yield and efficiency in sowing [10] - Recommended stocks include Beidahuang and Suqian Agricultural Development for planting, and leading seed companies like Longping High-Tech and Dabeinong for seed production [10] Pig Farming - The average price of external three-way cross pigs is 14.39 CNY/kg, with a slight increase from the previous week [11] - The number of breeding sows has decreased slightly, while slaughtering volumes have increased by 20% year-on-year [11] - Recommended stocks in the breeding sector include Dekang Agriculture, Jinke Smart Agriculture, and Muyuan Foods, with feed companies like Haida Group also highlighted [11] Key Agricultural Products Data Tracking - Corn: Current average price is 2378.15 CNY/ton, with a week-on-week increase of 0.15% [23] - Wheat: Current average price is 2457.51 CNY/ton, with a week-on-week decrease of 0.35% [26] - Soybeans: Current average price is 3927.89 CNY/ton, remaining stable [38] - Cotton: Current average price is 14480.00 CNY/ton, with a slight decrease of 0.14% [42] Feed and Vitamin Prices - The average price of pig feed is 2.71 CNY/kg, showing a week-on-week decrease of 0.73% [48] - Vitamin E is priced at 101.60 CNY/kg, with a decrease of 4.87% [48]
农林牧渔行业周报:政策因素或引发猪价波动,头部宠物食品品牌持续发力618-20250602
KAIYUAN SECURITIES· 2025-06-02 07:08
Investment Rating - The industry investment rating is "Positive" (maintained) [1] Core Viewpoints - The supply of pigs is expected to increase due to the normalization of breeding practices, which may exert downward pressure on prices in the short term. However, as supply stabilizes, prices are anticipated to stabilize or slightly rebound [4][14] - The pet food sector is experiencing a rise in domestic brands, supported by consumption upgrades and tariff barriers, with significant growth expected in the pet food market [6][26][28] Summary by Sections Weekly Observation - The average national pig selling price on May 30 was 14.44 yuan/kg, up by 0.17 yuan/kg from the previous week, with a daily average slaughter volume of 156,400 pigs, an increase of 13,200 pigs [4][14] - The demand side shows slight recovery, and the focus remains on policies affecting the pig industry [4][14] Weekly Market Performance (May 26-30) - The agricultural index outperformed the market by 1.82 percentage points, with the agricultural index rising by 1.79% while the Shanghai Composite Index fell by 0.03% [29][30] - The livestock breeding sector led the gains, with notable increases in stocks such as Juxing Agriculture (+13.15%) and Xiwang Food (+12.42%) [29][32] Price Tracking (May 26-30) - The national average price for pigs was 14.47 yuan/kg, up by 1.12% from the previous week. The average price for piglets was 35.24 yuan/kg, down by 0.90% [36] - The average price for corn was 2,339.00 yuan/ton, up by 0.52%, while soybean meal was priced at 2,966.00 yuan/ton, up by 0.54% [51] Key News (May 26-30) - An announcement was made to prevent the entry of highly pathogenic avian influenza from Brazil, highlighting the importance of biosecurity in the livestock sector [33] Weekly Insights - The pig sector shows low valuation and potential for recovery, with recommendations for companies like Muyuan Foods and Wens Foodstuffs [26] - The feed sector benefits from the recovery of livestock and strong overseas demand, with recommendations for companies like Haida Group and New Hope Liuhe [26]
登海种业: 山东登海种业股份有限公司2024年年度权益分派实施公告
Zheng Quan Zhi Xing· 2025-05-20 09:12
Core Viewpoint - Shandong Denghai Seed Industry Co., Ltd. has approved its 2024 annual equity distribution plan, which includes a cash dividend of 0.261000 yuan per 10 shares for shareholders [1][2]. Group 1: Equity Distribution Plan - The equity distribution plan was approved by the shareholders' meeting held on May 13, 2025 [1]. - The cash dividend will be distributed to shareholders based on their holdings as of the registration date [2]. - The company will not withhold individual income tax for certain shareholders, with tax rates varying based on holding periods and types of shares [1][2]. Group 2: Key Dates - The equity registration date is set for May 28, 2025, and the ex-dividend date is May 29, 2025 [2]. - The distribution of cash dividends will be directly credited to shareholders' accounts through their custodial securities companies on the ex-dividend date [2]. Group 3: Distribution Method - The cash dividends will be distributed to all shareholders registered with the China Securities Depository and Clearing Corporation Limited, Shenzhen Branch, as of the registration date [2]. - The company assumes all legal responsibilities for any issues arising from insufficient cash dividends due to a decrease in shares held by shareholders during the application period [2].
登海种业(002041) - 山东登海种业股份有限公司2024年年度权益分派实施公告
2025-05-20 09:00
山东登海种业股份有限公司 山东登海种业股份有限公司 2024 年年度权益分派实施公告 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"本公司"或"公 司"),2024 年年度权益分派方案已获 2025 年 5 月 13 日召开的 2024 年年度股东会审议通过,现将权益分派事宜公告如下: 一、股东会审议通过权益分派方案情况 1、公司 2024 年年度权益分派方案已经 2025 年 5 月 13 日召开的 2024 年度股东会审议通过,股东会决议公告已于 2025 年 5 月 14 日 刊 登 在 《 中 国 证 券 报 》《 证 券 时 报 》 和 巨 潮 资 讯 网 (http://www.cninfo.com.cn)上。 2、本次权益分派方案自披露至实施期间,公司总股本未发生变 化。若公司总股本在权益分派实施前发生变化,公司将按照分配总 额固定的原则对分配比例进行调整。 3、本次实施的权益分派方案与股东会审议通过的权益分派方案 一致。 4、本次实施权益分派方案距离股东会审议通过的时间未超过两 个月。 5、公司目前尚未开立 ...
登海种业: 第九届董事会第一次(临时)会议决议公告
Zheng Quan Zhi Xing· 2025-05-19 12:11
证券代码:002041 证券简称:登海种业 公告编号:2025-020 山东登海种业股份有限公司 山东登海种业股份有限公司 会议经参会董事审议和表决,形成如下决议: 一、审议通过了《关于选举公司董事长、副董事长的议案》,赞 成票 9 票,反对票 0 票,弃权票 0 票。 会议选举唐世伟女士担任公司第九届董事会董事长,吴晓燕女士 担任公司第九届董事会副董事长,任期自本次董事会审议通过之日起 至本届董事会任期届满之日止。简历见本公告附件。 二、审议通过了《关于聘请公司名誉董事长的议案》,赞成票 公司第九届董事会聘请李登海先生为公司名誉董事长,任期自 本次董事会审议通过之日起至本届董事会任期届满之日止。 三、审议通过了《关于修改 <董事会战略委员会工作实施细则> 的议案》,赞成票 9 票,反对票 0 票,弃权票 0 票。 详 见 2 0 2 5 年 5 月 2 0 日 刊 登 于 巨 潮 资 讯 网 (http://www.cninfo.com.cn)的《董事会战略委员会工作实施细则》。 四、审议通过了《关于选举公司第九届董事会专门委员会成员 山东登海种业股份有限公司 的议案》,赞成票 9 票,反对票 0 票,弃权 ...
登海种业(002041) - 董事会战略委员会工作实施细则
2025-05-19 11:48
山东登海种业股份有限公司 山东登海种业股份有限公司董事会 战略委员会工作实施细则 第一章 总则 第六条 战略委员会委员任职期限与其董事任职期限相同,连选 可以连任。如有委员因辞职或其他原因不再担任公司董事职务,其 委员资格自其不再担任董事之时自动丧失。董事会应根据《公司章 程》及本规则增补新的委员。 第七条 战略委员会下设工作组,其成员无需是战略委员会成 员。董事会秘书负责战略委员会和董事会之间的具体协调工作。 第三章 职责权限 第八条 战略委员会的主要职责权限: 第一条 为适应公司战略发展需要,增强公司核心竞争力,确定 公司发展规划,健全投资决策程序,加强决策科学性,提高重大投 资决策的效益和决策的质量,完善公司治理结构,根据《中华人民 共和国公司法》《上市公司治理准则》《公司章程》及其他有关规 定,公司特设立董事会战略委员会,并制定本工作细则。 第二条 董事会战略委员会是董事会设立的专门工作机构,主要 负责对公司长期发展战略和重大投资决策进行研究并向公司董事会 提出建议。 第二章 机构及人员组成 第三条 战略委员会成员由七名董事组成,其中至少包括一名独 立董事。 第四条 战略委员会委员由董事长、二分之一以 ...
登海种业(002041) - 第九届董事会第一次(临时)会议决议公告
2025-05-19 11:45
山东登海种业股份有限公司 证券代码:002041 证券简称:登海种业 公告编号:2025-020 山东登海种业股份有限公司 第九届董事会第一次(临时)会议决议公告 会议选举唐世伟女士担任公司第九届董事会董事长,吴晓燕女士 担任公司第九届董事会副董事长,任期自本次董事会审议通过之日起 至本届董事会任期届满之日止。简历见本公告附件。 二、审议通过了《关于聘请公司名誉董事长的议案》,赞成票 9 票,反对票 0 票,弃权票 0 票。 公司第九届董事会聘请李登海先生为公司名誉董事长,任期自 本次董事会审议通过之日起至本届董事会任期届满之日止。 三、审议通过了《关于修改<董事会战略委员会工作实施细则> 的议案》,赞成票 9 票,反对票 0 票,弃权票 0 票。 详 见 202 5 年 5 月 2 0 日 刊 登 于 巨 潮 资 讯 网 (http://www.cninfo.com.cn)的《董事会战略委员会工作实施细则》。 四、审议通过了《关于选举公司第九届董事会专门委员会成员 1 本公司及董事会全体成员保证信息披露的内容真实、准确和完整,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" ...
5月USDA供需报告分析:新作库存低于预期,利多大豆和玉米
ZHESHANG SECURITIES· 2025-05-15 07:30
Investment Rating - The industry investment rating is "Positive" [4] Core Viewpoints - The USDA supply and demand report indicates that new crop inventories for soybeans and corn are lower than expected, which is favorable for prices [4][6] - Global corn production for the 2024/25 season is estimated at 1.221 billion tons, with significant increases in production from the U.S., Brazil, and Argentina [1][12] - The soybean production forecast for the 2025/26 season is 410 million tons, with Brazil expected to reach a record 175 million tons [2][3][18] - The global wheat production forecast for 2025/26 is 667 million tons, reflecting a 1.0% year-on-year increase, with the EU showing significant growth [4][28] Summary by Sections Corn - The USDA report estimates a global corn production of 1.221 billion tons for 2024/25, with U.S. production increasing by 24.22 million tons due to expanded planting [1][12] - The projected global corn ending stocks for 2025/26 are 95.68 million tons, a 7.4% increase year-on-year, with a low stocks-to-use ratio of 10% [1][12] Soybeans - The global soybean production for 2024/25 is estimated at 421 million tons, with U.S. ending stocks significantly reduced to 295 million bushels [2][3][18] - The forecast for global soybean ending stocks for 2025/26 is 80.47 million tons, a 1.6% increase year-on-year, with a stocks-to-use ratio of 27.6% [3][19] Wheat - The global wheat production for 2025/26 is projected at 667 million tons, with the EU's production expected to increase by 11.4% to 136 million tons [4][28] - The global wheat ending stocks for 2025/26 are estimated at 14.2 million tons, reflecting a 2.5% year-on-year increase, with a stocks-to-use ratio of 21.6% [5][28] Investment Recommendations - In light of increasing global weather extremes and geopolitical tensions affecting grain prices, the report emphasizes the importance of seed source control for national food security [6][36] - Recommended companies include leading seed firms with transgenic advantages such as Longping High-Tech, Dabeinong, and Qianyuan High-Tech, along with suggestions to monitor Kangnong Seed Industry, Denghai Seed Industry, and Fengle Seed Industry [6][36]
登海种业(002041):粮价低迷拖累业绩,2025年营收利润双降
Guolian Securities· 2025-05-15 02:30
Investment Rating - The investment rating for the company is "Buy" [18] Core Views - The company is experiencing a decline in revenue and profit due to low grain prices, with expectations for revenue and profit to decrease in 2025 [2][10] - The company is actively developing high-yield new varieties and increasing investment in research and development [12] - The company is projected to benefit from the commercialization of genetically modified corn, suggesting a potential for future growth despite current challenges [13] Summary by Sections Financial Performance - In 2024, the company achieved revenue of 1.246 billion yuan, a decrease of 19.74% year-on-year, with a net profit attributable to shareholders of 57 million yuan, down 77.86% year-on-year [10][14] - For Q1 2025, the company reported revenue of 163 million yuan, a year-on-year decrease of 30.04%, and a net profit of 25 million yuan, down 18.37% year-on-year [10] Business Segments - The corn business generated revenue of 1.073 billion yuan in 2024, a decrease of 20.78% year-on-year, with a gross margin of 29.50%, an increase of 0.33 percentage points [4][11] - The wheat business revenue was 108 million yuan, down 3.38% year-on-year, while the rice business revenue was 32 million yuan, down 30.61% year-on-year, and the vegetable seed business revenue was 13 million yuan, down 7.23% year-on-year [4][11] Research and Development - The company has successfully passed the approval for 20 new corn varieties and is increasing its R&D investment, with R&D expenses reaching 83 million yuan in 2024, up 24.79% year-on-year [12] - In Q1 2025, R&D expenses were 14 million yuan, an increase of 9.65% year-on-year [12] Future Projections - Revenue projections for 2025-2027 are 1.290 billion yuan, 1.418 billion yuan, and 1.673 billion yuan, with year-on-year growth rates of 3.60%, 9.85%, and 18.02% respectively [13][14] - Net profit projections for the same period are 177 million yuan, 187 million yuan, and 206 million yuan, with growth rates of 212.13%, 5.75%, and 10.06% respectively [13][14]