自雅鲁藏布江下游水电工程已2025年7月19日正式开工后，A股市场称得上刮起了一阵"雅下旋风"，带动上证 指数突破3600点的同时，也令不少上市公司收获了久违的涨停。 天康生物之外，鱼跃医疗的回复思路也具有"鱼跃"般的跳跃性。 卖猪肉的也能蹭上雅下水电站的热点！面对天康生物这波操作，只能疯狂地给董秘的"创意"点赞：脑洞大 开，敢想敢蹭！独蹭涨，不如众蹭涨。建议所有食品饮料行业上市公司的董秘朋友们，大家一起上！ 有热点不蹭，天理难容！ 面对如此炙手可热的概念，一些对市值上涨充满渴望的上市公司又动起了心思。而作为准官方信息披露平台 的上交所e互动与深交所互动易，由于受到各方的密切关注，便成了这些上市公司"蹭热点"的首选。 必须得说，经过这些年互动平台蹭热点冰与火的洗礼，如今上市公司在蹭热点方面的技艺日趋成熟、精湛。 1、最佳创意奖：天康生物(002100.SZ)、鱼跃医疗(002223.SZ) 记得疫情期间，一家上市公司官方旗舰店擅自将网友购买的已经到货的制氧机召回，原因是售价已经翻倍， 是鱼跃医疗吗？ 从上市公司的问答来看，雅下电站的运营主体雅江集团似乎对制氧设备的需求还挺大，虽然现在对业务没有 较大影响，如果 ...

内容概要：兽药原料药是指具有药理活性、直接用于制造兽药制剂的化学或生物物质，是兽药的有效成 分。自改革开放以来，我国畜牧业发展取得了举世瞩目的成就。在畜牧业发展中，兽药产业的贡献不可 磨灭。兽药原料药作为兽药生产的关键原料，被称为兽药制剂中的"芯片"，处于兽药产业链核心环节， 在兽药行业中占据着重要地位。随着我国养殖行业疾病防护意识不断加强，兽药原料药需求迅速增长。 2024年中国兽药原料药市场规模约185.1亿元，2025年，在宽松的货币和财政政策下，经济大环境有望 进一步好转，需求的进一步复苏和供应端的持续控制，兽药原料药市场整体表现或将好于2024年。预计 2025年中国兽药原料药市场规模约为200亿元。从细分市场来看，在我国兽药原料药中，抗微生物药在 兽药原料药市场中占据绝对主导地位，占据兽药原料药84%的市场份额，占比长期居于首位；寄生虫药 约占11%的市场份额。 上市企业：海昇药业[870656]、国邦医药[605507]、普洛药业[000739]、宏源药业[301246]、瑞普生物 [300119]、金河生物[002688]、生物股份[600201]、绿康生化、天康生物[002100]、*ST绿 ...

农林牧渔 2025 年 07 月 21 日 投资评级：看好（维持） 行业走势图 数据来源：聚源 -19% -10% 0% 10% 19% 29% 2024-07 2024-11 2025-03 农林牧渔 沪深300 相关研究报告 《短期供给增加致猪价下滑，震荡消 化后中枢或抬升 — 行 业 周 报 》 -2025.7.20 《7 月 USDA 农产品报告下调全球玉 米、水稻、小麦产量，上调大豆产量 —行业点评报告》-2025.7.15 《生猪龙头 2025Q2 利润高增，犊牛价 格持续上行牛周期景气有支撑—行业 周报》-2025.7.13 农林牧渔 6 月以来生猪超卖强化供给收缩之势，猪价新一轮上 行或开启 ——行业点评报告 | 陈雪丽（分析师） | 王高展（分析师） | 朱本伦（联系人） | | --- | --- | --- | | chenxueli@kysec.cn | wanggaozhan@kysec.cn | zhubenlun@kysec.cn | | 证书编号：S0790520030001 | 证书编号：S0790525070003 | 证书编号：S0790124060020 | 行业：6 ...

农林牧渔 2025 年 07 月 20 日 投资评级：看好（维持） 行业走势图 数据来源：聚源 -19% -10% 0% 10% 19% 29% 2024-07 2024-11 2025-03 农林牧渔 沪深300 相关研究报告 《7 月 USDA 农产品报告下调全球玉 米、水稻、小麦产量，上调大豆产量 —行业点评报告》-2025.7.15 《生猪龙头 2025Q2 利润高增，犊牛 价格持续上行牛周期景气有支撑—行 业周报》-2025.7.13 《供给收缩与宏观催化共振，2025Q3 猪 价 存 在 强 支 撑 — 行 业 周 报 》- 2025.7.6 10 短期供给增加致猪价下滑，震荡消化后中枢或抬升 ——行业周报 | 陈雪丽（分析师） | 王高展（分析师） | 朱本伦（联系人） | | --- | --- | --- | | chenxueli@kysec.cn | wanggaozhan@kysec.cn | zhubenlun@kysec.cn | | 证书编号：S0790520030001 | 证书编号：S0790525070003 | 证书编号：S0790124060020 | 周观察：短期供给 ...

Core Viewpoint - The article discusses the recent decline in pig prices and the overall performance of the pig farming industry, highlighting changes in supply, demand, and pricing dynamics [3][4]. Group 1: Pig Price Trends - As of July 11, the average price of external three yuan pigs in China was 14.81 yuan/kg, reflecting a week-on-week decrease of 3.52%. The average price for 15 kg piglets was 31.89 yuan/kg, showing a week-on-week increase of 1.79% [3]. - The average weight of market pigs sold this week was 129.03 kg, which is an increase of 0.39 kg compared to the previous week. The national frozen product inventory rate rose to 14.31%, up by 0.08 percentage points [3]. Group 2: June Sales Report Analysis - In June, 13 listed pig companies collectively sold 16.2681 million pigs, representing a month-on-month increase of 2.65% and a year-on-year increase of 47.55%. Major companies like Muyuan, Wens, and New Hope saw varying changes in their sales volumes [4]. - The total number of market pigs sold in June was approximately 13.5449 million, with a month-on-month increase of 3.30% and a year-on-year increase of 43.36%. The sales of piglets decreased slightly by 1.90% month-on-month but increased by 74.14% year-on-year [4]. - The average selling price of market pigs decreased due to inventory reduction, with most companies experiencing a price drop of less than 3% month-on-month and approximately 20% year-on-year [4]. Group 3: Weight and Pricing Dynamics - The average weight of market pigs sold in June was 125.06 kg, down by 0.77 kg month-on-month, indicating a trend towards reducing weight as companies adjust to market conditions [4]. - The average selling price varied among companies, with the lowest at 13.23 yuan/kg and the highest at 15.57 yuan/kg, with most companies maintaining prices between 14-15 yuan/kg [4].

Group 1 - Morning Light Biological expects a net profit of 202.0 million to 232.0 million yuan for the first half of 2025, representing a year-on-year increase of 102.33% to 132.38% [1] - Northern Rare Earth anticipates a net profit of 900.0 million to 960.0 million yuan for the first half of 2025, with a significant year-on-year growth of 1882.54% to 2014.71% [1] - Youfa Group forecasts a net profit of 277.0 million to 307.0 million yuan for the first half of 2025, reflecting a year-on-year increase of 151.69% to 178.93% [1] Group 2 - Torch Electronics projects a net profit of approximately 247.0 million to 280.0 million yuan for the first half of 2025, indicating a year-on-year growth of 50.36% to 70.45% [3] - Zhiwei Intelligent expects a net profit of 91.98 million to 112.43 million yuan for the first half of 2025, with a year-on-year increase of 62.85% to 99.06% [4] - Youhao Group anticipates a net profit of 12.0 million yuan for the first half of 2025, representing a year-on-year growth of 51% [5] Group 3 - Nami Technology expects a net profit of 61.0 million to 73.0 million yuan for the first half of 2025, with a year-on-year increase of 35% to 62% [7] - Xinda Co. forecasts a net profit of 130.0 million to 150.0 million yuan for the first half of 2025, reflecting a substantial year-on-year growth of 2443.43% to 2834.73% [8] Group 4 - Shaanxi Coal Industry reported a coal production of 14.36 million tons in June, a year-on-year decrease of 5.07% [9] - Huanxu Electronics announced a consolidated revenue of 4.587 billion yuan in June, a year-on-year decline of 1.23% [10] Group 5 - Huadian International successfully issued 2.0 billion yuan in medium-term notes with a maturity of 3+N years and a coupon rate of 1.89% [20] - Zhongmin Energy reported a total power generation of 1.405 billion kilowatt-hours in the first half of 2025, a year-on-year decrease of 0.89% [20] Group 6 - Huaxia Biotech passed the FDA inspection with zero deficiencies, covering six major systems [21] - Ruikeda's application for convertible bond issuance has been accepted by the Shanghai Stock Exchange [22] Group 7 - Dafu Technology plans to invest no more than 100 million yuan in Anhui Yunta [42] - Tongda Co. won a bid for a project valued at 180.3 million yuan from the Southern Power Grid [46]

Core Viewpoint - The article summarizes important announcements from various listed companies in the Shanghai and Shenzhen stock markets, providing insights for investors regarding their operational status and significant developments. Group 1: Company Announcements - Jinshi Technology (002951) stated that it has not engaged in any business related to stablecoins and confirmed no undisclosed significant matters [3] - New Asia Electronics (605277) reported that revenue from its "lotus core structure" technology application is less than 3.31% of total revenue, and the technology has not yet been mass-produced [4] - New Zhonggang (605162) confirmed that its main business has not undergone significant changes and its operational status remains normal [6] - Zhuoyue New Energy (688196) plans to invest 700 million yuan in a bioenergy project in Thailand, which includes a biodiesel production line with an annual capacity of 300,000 tons [7] - Zhengfan Technology (688596) intends to acquire 62.23% of Han Jing Semiconductor, aiming to enhance its competitiveness in the semiconductor sector [8] - Alliance Electronics (688311) announced that five shareholders plan to transfer 3.68% of the company's shares through a pricing inquiry [9] - Xinpeng Co., Ltd. (002328) reported that its subsidiary's investment project has been listed on the STAR Market [10] - Bayi Shikong (688181) is expanding into edge computing services, partnering with China Broadcasting Network [12] - Dafu Technology (300134) plans to invest up to 100 million yuan in Anhui Yunta Electronics [14] - Jinchengzi (688291) noted that revenue from its laser 3D printing control systems will account for less than 2% of total revenue in 2024 [15] - Dazhi (601519) confirmed that its daily operations are normal and there are no significant changes [16] - Senlin Packaging (605500) clarified that its consumer packaging business currently represents a small portion of its overall operations [17] - Guangyunda (300227) intends to acquire 56.0299% of Yilian Unlimited for 352 million yuan [18] - Xinning Electric (301388) reported no significant changes in its operational environment [19] - Shangwei New Materials (688585) announced progress in its controlling shareholder's control change plan [20] - Yong'an Futures (600927) confirmed no undisclosed significant information [21] Group 2: Performance Reports - Jingji Zhino (000048) reported June sales of 176,400 pigs, generating revenue of 310 million yuan [23] - Kemin Foods (002661) noted a 111.22% year-on-year increase in June sales revenue from its subsidiary [24] - Lihua Co., Ltd. (300761) reported a 21.3% year-on-year decline in June chicken sales revenue [25] - Xiaoming Co., Ltd. (300967) experienced a 182.52% year-on-year increase in June chicken product sales revenue [26] - Tiankang Bio (002100) reported a 19.53% year-on-year decline in June pig sales revenue [27] - Shen Shen Fang A (000029) expects a net profit increase of 1411.7% to 2034.17% for the first half of the year [29] - Juhua Co., Ltd. (600160) anticipates a net profit increase of 136% to 155% for the first half of the year [30] - Jieshun Technology (002609) expects a net profit increase of 105.68% to 193.82% for the first half of the year [31] - Haopeng Technology (001283) forecasts a net profit increase of 228.03% to 271.77% for the first half of the year [32] - Dajin Heavy Industry (002487) expects a net profit increase of 193.32% to 227.83% for the first half of the year [33] - Huace Navigation (300627) anticipates a net profit increase of 27.37% to 33.34% for the first half of the year [34] - Yatai Co., Ltd. (002284) expects a net profit increase of 81.97% to 101.13% for the first half of the year [35] - Huagong Technology (000988) forecasts a net profit increase of 42.43% to 52.03% for the first half of the year [36] - Shangwei Co., Ltd. (603333) expects a net loss of 27 million to 35 million yuan for the first half of the year [37] Group 3: Major Contracts and Share Transactions - Hongyuan Green Energy (603185) signed a cooperation agreement with Jiangsu Shunfeng Photovoltaic Technology [38] - Pulite (002324) announced a procurement contract for a 30MWh sodium-ion battery energy storage system [40] - Hisense Home Appliances (000921) plans to increase its shareholding by 6.92 million to 13.86 million shares [41] - Yanpai Co., Ltd. (301081) intends to increase its shareholding by 17 million to 34 million yuan [42] - Yuanzu Co., Ltd. (603886) announced a plan to reduce its shareholding by up to 1% [43] - 吉祥航空 (603885) plans to reduce its shareholding by up to 1% [44] - Jin Domain Medical (603882) intends to reduce its shareholding by up to 1% [45] - Chao Tu Software (300036) announced plans for its controlling shareholder to reduce its shareholding by up to 2.01% [46] - Xintong Lian (603022) plans to reduce its shareholding by up to 3% [47] - Dongfang Zhongke (002819) intends to reduce its shareholding by up to 3% [48] - Shuo Beid (300322) plans to repurchase shares worth 20 million to 30 million yuan [49]

Investment Rating - The industry investment rating is maintained as "Increase" for the agricultural sector [6] Core Viewpoints - The agricultural sector outperformed the market by 1.01 percentage points during the week of June 30 to July 4, 2025, with a weekly increase of 2.55% [15][17] - The pig farming sector is highlighted as a key investment opportunity due to the recovery of breeding profits and the ongoing rise in pig prices [4][2] - The report emphasizes the importance of cost control for listed pig farming companies to navigate the pig cycle effectively [4] Summary by Sections Market Review - The agricultural sector index closed at 2,729.26, ranking 7th among 31 first-level industries in terms of weekly performance [15][17] - The fishery sector showed the best performance with a 5.13% increase, followed by breeding, agricultural product processing, feed, and planting sectors with respective increases of 3.12%, 2.96%, 2.30%, and 1.63% [17][19] Industry Dynamics - Pig prices continued to rise, with the national average price reaching 15.35 yuan/kg, a week-on-week increase of 4.28% [2] - Self-breeding profits increased to 119.72 yuan/head, while external piglet breeding profits improved to -26.26 yuan/head [2] - In the poultry sector, chicken prices remained under pressure due to high inventory levels, with broiler chick prices dropping to 1.36 yuan/chick, a 20% decrease week-on-week [2] Agricultural Products - Prices for wheat, corn, and soybean meal showed a week-on-week increase, with wheat averaging 2,451.06 yuan/ton (up 0.19%), corn at 2,367.14 yuan/ton (up 0.61%), and soybean meal at 2,928.00 yuan/ton (up 0.76%) [3][34] Investment Recommendations - The report suggests focusing on the pig farming sector, particularly companies with strong cost control such as Muyuan Foods, Wens Foodstuff Group, and others [4] - In the poultry sector, it recommends looking at integrated industry leaders like Shennong Development and Lihua Stock for yellow feathered chickens [4] - For feed, it highlights industry leaders like Haida Group and regional leaders like Hefeng Stock as beneficiaries of the recovery in livestock demand [4] - The report also emphasizes the importance of food security, recommending companies like Suqian Agricultural Development and Beidahuang [4]

Group 1 - Jinshi Technology has not engaged in any business related to stablecoins and confirmed no undisclosed significant matters [3] - Xinya Electronics reported that revenue from its "lotus core structure" technology accounts for less than 3.31% of total revenue, and the technology has not yet been mass-produced [4] - New Zhonggang stated that its main business has not undergone significant changes and its production and operational status remains normal [5] Group 2 - Zhuoyue New Energy plans to invest 700 million yuan in a bioenergy project in Thailand, which includes a biodiesel production line with an annual capacity of 300,000 tons [6] - Zhengfan Technology intends to acquire 62.23% of Han Jing Semiconductor, which will become a subsidiary, enhancing its capabilities in the semiconductor sector [7] Group 3 - Jingji Zhino reported sales of 176,400 pigs in June, generating revenue of 310 million yuan [9] - Kemin Foods' subsidiary saw a 111.22% year-on-year increase in sales revenue from pig sales in June [10] - Lihua Co. reported a 21.3% year-on-year decline in chicken sales revenue in June [11] Group 4 - Xiaoming Co. achieved a 182.52% year-on-year increase in chicken product sales revenue in June [12] - Tiankang Bio reported a 19.53% year-on-year decline in pig sales revenue in June [13] Group 5 - Juhua Co. expects a net profit increase of 136% to 155% for the first half of 2025, driven by rising prices of core products [14] - Jieshun Technology anticipates a net profit increase of 105.68% to 193.82% for the first half of 2025, supported by growth in innovative business [15] - Dajin Heavy Industry forecasts a net profit increase of 193.32% to 227.83% for the first half of 2025, attributed to significant growth in overseas business [16] Group 6 - Huace Navigation expects a net profit increase of 27.37% to 33.34% for the first half of 2025, driven by rapid growth in overseas markets [17] - Yatai Co. anticipates a net profit increase of 81.97% to 101.13% for the first half of 2025, due to market expansion and operational efficiency [18] - Shangwei Co. expects a net loss of 27 million to 35 million yuan for the first half of 2025, impacted by economic conditions and competition [19] Group 7 - Hongyuan Green Energy's subsidiary signed a cooperation agreement to stabilize operations during a pre-restructuring phase [21] - Pulit signed a procurement contract for a 30MWh sodium-ion battery energy storage system, marking a significant milestone in sodium battery applications [22] Group 8 - Hisense Home Appliances' controlling shareholder plans to increase its stake by acquiring up to 13.86 million shares [24] - Yanpai Co.'s controlling shareholder intends to increase its stake by investing between 17 million to 34 million yuan [25] - Yuanzhu Co. plans to reduce its stake by up to 1% due to funding needs [26] - Xintonglian's shareholder plans to reduce its stake by up to 3% for operational needs [27]

Sales Performance - In June 2025, the company sold 243,100 pigs, representing a month-on-month increase of 5.83% but a year-on-year decrease of 6.14% [1] - The sales revenue for June 2025 was 342 million yuan, showing a month-on-month decline of 0.87% and a year-on-year decrease of 19.53% [1] - Cumulative sales revenue reached 2.244 billion yuan, a slight year-on-year decline of 0.27% [1] Price Information - The average price of commodity pigs for the month was not explicitly stated in the provided data, but the sales figures indicate a challenging pricing environment [2]