Core Viewpoint - TianKang Biological Co., Ltd. plans to acquire 51% equity of Xinjiang Qiangdu Animal Husbandry Technology Co., Ltd. through cash payment, aiming to gain control over the target company [1][3] Transaction Overview - The acquisition framework agreement was signed on August 25, 2025, between TianKang Biological, Qiangdu Animal Husbandry, and its controlling shareholder, Qixing Qiangdu Group [3] - The agreement is preliminary and subject to due diligence, auditing, and evaluation, with the final transaction details to be determined in a formal agreement [2][3] - The transaction is not expected to constitute a major asset restructuring as per relevant regulations, nor will it involve issuing shares or changing control of the company [2][3] Parties Involved - TianKang Biological is the acquirer, while Qixing Qiangdu Group is the controlling shareholder of Qiangdu Animal Husbandry, holding 83.3564% of its equity [6][7] - The actual control of Qiangdu Animal Husbandry is held by Xu Songjiang and Xu Min, who collectively control 97.4890% of the company [6][7] Transaction Details - The agreement stipulates that Qixing Qiangdu Group will coordinate with other shareholders to transfer a total of 51% equity to TianKang Biological [8] - The final transaction price will be based on evaluations conducted by qualified asset appraisal institutions [8] - The agreement includes a exclusivity clause preventing parties from negotiating similar transactions with third parties [9] Impact on the Company - The acquisition aligns with TianKang Biological's strategic goals and is expected to enhance its market share in the pig farming industry [10] - Qiangdu Animal Husbandry operates a complete pig farming industry chain, which is significant for the local livestock sector [10] - The transaction is anticipated to strengthen the company's overall competitiveness and support its long-term development in the Xinjiang region [10]

每经记者｜范芊芊 每经编辑｜陈俊杰 并购重组 晶升股份：筹划购买北京为准控股权 晶升股份公告称，公司正在筹划以发行股份及支付现金的方式购买北京为准智能科技股份有限公司的控 股权，同时拟募集配套资金。由于相关事项存在不确定性，为保证公平信息披露，维护投资者利益，避 免造成公司股价异常波动，公司股票将于2025年8月26日开市起停牌，预计停牌时间不超过10个交易 日。 天康生物：拟收购羌都畜牧51%股权 天康生物公告称，公司与七星羌都集团、羌都畜牧签署股权收购框架协议，拟以支付现金方式收购羌都 畜牧51%股权，预计将实现对羌都畜牧控股。本次交易预计不构成重大资产重组。羌都畜牧主营生猪养 殖和销售，采用"自繁自养"模式。 联创电子：拟1.07亿元回购合肥智行光电33.33%股权 联创电子公告称，公司与融创岭岳签署《股权转让协议》，将回购其持有的合肥智行光电33.33%的股 权，交易对价为1.07亿元。此次回购符合《增资合同》和《股权转让协议》的约定，不会影响公司发展 战略和经营规划。回购完成后，融创岭岳将不持有合肥智行股权，公司将持有合肥智行100%股权。 业绩披露 江淮汽车：上半年归母净利润亏损7.73亿元 江淮 ...

智通财经APP讯，天康生物(002100.SZ)公告，公司与新疆七星羌都集团农牧有限公司(简称"七星羌都集 团")、新疆羌都畜牧科技有限公司(简称"羌都畜牧")签署《关于新疆羌都畜牧科技有限公司之股权收购 框架协议》，拟以支付现金方式收购羌都畜牧51%股权，交易完成后，公司预计将实现对羌都畜牧控 股。 公告显示，羌都畜牧采用"自繁自养"模式，形成了覆盖种猪繁育、商品猪养殖到屠宰加工等环节较为完 整的产业链。羌都畜牧是南疆地区生猪养殖重要企业之一，养殖规模和产业布局对当地畜牧业具有较大 影响。 （原标题：天康生物(002100.SZ)筹划取得羌都畜牧控股权） ...

公告显示，羌都畜牧采用"自繁自养"模式，形成了覆盖种猪繁育、商品猪养殖到屠宰加工等环节较为完 整的产业链。羌都畜牧是南疆地区生猪养殖重要企业之一，养殖规模和产业布局对当地畜牧业具有较大 影响。 天康生物（002100）(002100.SZ)公告，公司与新疆七星羌都集团农牧有限公司(简称"七星羌都集团")、 新疆羌都畜牧科技有限公司(简称"羌都畜牧")签署《关于新疆羌都畜牧科技有限公司之股权收购框架协 议》，拟以支付现金方式收购羌都畜牧51%股权，交易完成后，公司预计将实现对羌都畜牧控股。 ...

Core Viewpoint - TianKang Bio (002100.SZ) has signed a framework agreement to acquire 51% equity in Qiangdu Livestock Technology Co., Ltd. from Qixing Qiangdu Group Agricultural and Animal Husbandry Co., Ltd. through cash payment, aiming to gain control over Qiangdu Livestock after the transaction is completed [1] Group 1 - The acquisition involves a cash payment for 51% equity in Qiangdu Livestock Technology Co., Ltd. [1] - The transaction is expected to result in TianKang Bio gaining a controlling stake in Qiangdu Livestock [1]

天康生物 证券代码：002100 证券简称：天康生物 公告编号：2025-048 天康生物股份有限公司 关于筹划收购新疆羌都畜牧科技有限公司控制权 的提示性公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚假 记载、误导性陈述或者重大遗漏。 特别提示： 一、天康生物股份有限公司（以下简称"公司"）与新疆七星羌都集团农牧 有限公司（以下简称"七星羌都集团"）、新疆羌都畜牧科技有限公司（以下简 称"羌都畜牧"、"目标公司"）签署《关于新疆羌都畜牧科技有限公司之股权 收购框架协议》（以下简称"《股权收购框架协议》"），拟以支付现金方式收 购羌都畜牧 51%股权（以下简称"本次交易"）。本次交易完成后，公司预计将 实现对羌都畜牧控股。 二、本次公司签署的《股权收购框架协议》为意向性协议，为公司与目标公 司控股股东七星羌都集团一方签署。本次股权收购事项最终的交易安排尚需进行 尽职调查、审计、评估工作，并根据相关结果由各方协商及履行必要决策审批程 序后，以最终签署的正式收购协议为准，尚存在不确定性。 三、根据初步研究和测算，本次交易预计不构成《上市公司重大资产重组管 理办法》规定的重大资产重组。本次交 ...

人民财讯8月25日电，天康生物（002100）8月25日晚间公告，公司与新疆七星羌都集团农牧有限公司、 新疆羌都畜牧科技有限公司(简称"羌都畜牧")签署《关于新疆羌都畜牧科技有限公司之股权收购框架协 议》，拟以支付现金方式收购羌都畜牧51%股权。本次交易完成后，公司预计将实现对羌都畜牧控股。 羌都畜牧是南疆地区生猪养殖重要企业之一，养殖规模和产业布局对当地畜牧业具有较大影响。本次合 作有利于加速推进公司生猪产业的发展，提高公司在生猪产业的市场份额。 ...

Group 1 - The company has signed a framework agreement for equity acquisition with Xinjiang Qixing Qiangdu Group Agricultural and Animal Husbandry Co., Ltd. and Xinjiang Qiangdu Animal Husbandry Technology Co., Ltd. to acquire 51% equity of Qiangdu Animal Husbandry through cash payment [1] - Upon completion of the transaction, the company is expected to gain control over Qiangdu Animal Husbandry [1] - The transaction is currently in the planning stage, with specific details such as transaction targets, acquisition ratios, and prices to be negotiated based on due diligence, auditing, and evaluation results [1] Group 2 - The transaction is anticipated not to constitute a major asset reorganization, will not involve the issuance of shares by the listed company, and will not lead to a change in control of the company [1] - The transaction does not qualify as a related party transaction [1] - The transaction is subject to approval by the company's board of directors, shareholders' meeting, and higher regulatory authorities [1]

Investment Rating - Industry rating: Outperform the market (maintained rating) [9] Core Insights - The pet industry is experiencing significant growth, with the Asia Pet Expo showcasing over 2,600 exhibitors and 20,000 brands, indicating a thriving market driven by globalization and innovation [2][13] - China's pet food exports have shown continuous growth, with 201,000 tons exported from January to July 2025, reflecting a year-on-year increase of 6.64% [14] - The pig farming sector is facing challenges, with the average pig price at 13.82 yuan/kg, a decrease of 3.63% from the previous week, and the average weight of pigs reaching a historical high [15][16] - The dairy sector is poised for a recovery, with the original milk price expected to rebound as production capacity decreases after a prolonged period of losses [17][18] - The poultry sector is focusing on breeding gaps, with a significant decline in the import of breeding chickens due to avian influenza concerns, which may impact future supply [19][20] - The planting sector emphasizes food security and the importance of biotechnology, with a focus on high-yield and resilient crop varieties [25] - The feed sector is recommended for investment, particularly in companies like Haida Group, which is expected to benefit from market recovery and increased market share [26] Summary by Sections Pet Sector - The Asia Pet Expo has reached a record scale of 310,000 square meters, highlighting the industry's vitality and innovation potential [2][13] - Pet food exports from China have increased, with a total of 201,000 tons exported in the first seven months of 2025, showing a year-on-year growth of 6.64% [14] - Recommended companies include pet food brands like Guibao Pet, Zhongchong Co., and Petty Co. [14] Pig Sector - The average pig price is currently at 13.82 yuan/kg, with a year-to-date low in profitability for pig farming [15][16] - The average weight of pigs is at a historical high, indicating supply pressures [15] - Recommended companies include leading pig farming firms such as Wens Foodstuffs Group and Muyuan Foods [16] Dairy Sector - Yuran Dairy reported stable performance with a revenue of 10.3 billion yuan, showing a year-on-year growth of 2.3% [17] - The dairy industry is expected to see a recovery as production capacity decreases [18] - Recommended companies include Yuran Dairy and China Shengmu Organic Milk [18] Poultry Sector - The poultry sector is facing challenges with breeding imports, particularly for white chickens, due to avian influenza [19][20] - Recommended companies include Shennong Development and Yisheng Livestock [20] Planting Sector - The focus is on food security and biotechnology, with an emphasis on high-yield and resilient crop varieties [25] - Recommended companies include Longping High-Tech and Dabeinong Technology Group [25] Feed Sector - Haida Group is highlighted as a key investment opportunity due to its increasing market share and performance [26] - The animal health sector is also recommended, particularly companies like Kexin Biological [27]

Investment Rating - The industry investment rating is "Positive" (maintained) [1] Core Insights - The report indicates that the pig price is expected to gradually rise due to government storage initiatives, with the average pig price as of August 22, 2025, being 13.73 yuan/kg, showing a week-on-week increase of 0.04 yuan/kg but a year-on-year decrease of 6.51% [3][13] - The pet food export market is experiencing high growth, with July 2025 exports amounting to 130 million USD, a month-on-month increase of 13.35% [4][25] - The report highlights a positive outlook for the pig farming sector, driven by both fundamental and policy factors, with recommendations for specific companies in the sector [5][26] Weekly Observations - The report notes that the storage of frozen pork by the government is set to begin on August 25, 2025, with a total of 10,000 tons to be stored [38] - The average pig-to-grain price ratio has fallen below 6:1, prompting government intervention to stabilize the market [13][41] - The agricultural index outperformed the market by 0.23 percentage points during the week of August 18-22, 2025, with a 3.72% increase [30][33] Price Tracking - As of August 22, 2025, the average price of live pigs was 13.73 yuan/kg, with a slight decrease of 0.03 yuan/kg from the previous week [43][44] - The average price of piglets was 27.78 yuan/kg, down 1.09 yuan/kg week-on-week [43][44] - The report also tracks the prices of other agricultural products, noting fluctuations in beef, chicken, and feed prices [42][54] Recommendations - The report recommends several companies for investment, including Muyuan Foods, Wens Foodstuff Group, and others in the pig farming sector, as well as companies in the feed sector like Haida Group and New Hope [5][26][28] - In the pet food sector, companies such as Guibao Pet and Petty are highlighted as strong investment opportunities due to the rising domestic market [5][29]