Group 1 - The animal vaccine sector experienced a decline of 0.72% as of the market close on August 22, ranking among the top declines in concept sectors [1] - Within the animal vaccine sector, companies such as Shenlian Biological, Weilan Biological, and Xianfeng Holdings saw significant declines, while Kexing Pharmaceutical, Haizheng Pharmaceutical, and Guoyao Modern recorded increases of 2.06%, 0.44%, and 0.09% respectively [1] - The overall market saw a net outflow of 0.68 billion yuan from the animal vaccine sector, with 11 stocks experiencing net outflows, and 6 stocks seeing outflows exceeding 10 million yuan [2] Group 2 - The top net outflow in the animal vaccine sector was from Kanghua Biological, with a net outflow of 30.50 million yuan, followed by Shenlian Biological, Dabeinong, and Jinhai Biological with outflows of 27.38 million yuan, 24.27 million yuan, and 23.53 million yuan respectively [2] - Conversely, the stocks with the highest net inflows included Haizheng Pharmaceutical, Kexing Pharmaceutical, and Luoniushan, with net inflows of 27.34 million yuan, 16.70 million yuan, and 10.38 million yuan respectively [3] - The trading activity in the animal vaccine sector showed that Kanghua Biological had a turnover rate of 3.52% and a decline of 1.70%, while Kexing Pharmaceutical had a turnover rate of 3.12% and an increase of 2.06% [3]

Group 1 - The central government will soon initiate the reserve collection of frozen pork to stabilize the pork market due to increased supply and a slight decline in prices [1] - The average pig-to-grain price ratio has dropped below 6:1, indicating a need for intervention to maintain market stability [1] - The China Livestock Breeding Index (930707) has shown a slight increase of 0.14%, with key stocks like Shennong Group and Haida Group experiencing gains [1] Group 2 - In the second half of 2025, supply pressure is expected to be significant, with policies aimed at high-quality development and capacity control to stabilize prices [2] - The top ten weighted stocks in the China Livestock Breeding Index account for 64.83% of the index, indicating concentrated market performance [2] - The livestock ETF closely tracks the China Livestock Breeding Index, reflecting the overall performance of listed companies in the livestock sector [2]

序号代码名称最新价涨跌幅主力净流入主力净占比1002100天康生物6.61.072467.41万元9.41%2600975新 五丰6.470.621664.68万元5.92%3603717天域生物8.552.271509.48万元9.71%4002840华统股份 10.750.191368.62万元10.32%5002311海大集团60.220.871161.37万元3.17%6000735罗 牛 山6.440.94684.38 万元3.36%7002157正邦科技2.91.05649.50万元1.74%8300761立华股份19.711.86572.66万元1.67%9002385 大北农4.220.72526.59万元0.92%10603609禾丰股份8.940.68479.32万元6.42% 来源：金融界 8月21日，猪肉概念上涨0.75%，今日主力资金流出1.97亿元，概念股28只上涨，6只下跌。 主力资金净流出居前的分别为牧原股份（1.99亿元）、顺鑫农业（2979.91万元）、新希望（1936.05万 元）、得利斯（1393.17万元）、京基智农（974.31万元）。 ...

Market Overview - The feed sector increased by 0.56% on August 20, with Lude Environment leading the gains [1] - The Shanghai Composite Index closed at 3766.21, up 1.04%, while the Shenzhen Component Index closed at 11926.74, up 0.89% [1] Individual Stock Performance - Lude Environment (688156) closed at 24.17, up 7.04% with a trading volume of 50,900 shares and a turnover of 118 million yuan [1] - Zhongchong Co., Ltd. (002891) closed at 62.75, up 3.89% with a trading volume of 137,000 shares and a turnover of 844 million yuan [1] - Other notable performers include Boen Group (001366) up 1.75%, Bangji Technology (603151) up 1.51%, and Guai Bao Pet (301498) up 1.34% [1] Capital Flow Analysis - The feed sector saw a net inflow of 13.84 million yuan from institutional investors, while retail investors experienced a net outflow of 29.77 million yuan [2] - The main capital inflow was observed in Zhongchong Co., Ltd. with a net inflow of 69.92 million yuan, while Lude Environment had a net inflow of 10.56 million yuan [3] Summary of Capital Flows - Zhongchong Co., Ltd. (002891) had a significant net inflow from institutional investors at 69.92 million yuan, while retail investors showed a net outflow of 61.77 million yuan [3] - Lude Environment (688156) experienced a net inflow of 10.56 million yuan from institutional investors, with retail investors also showing a net outflow [3] - Other companies like Jin Xin Nong (002548) and Ao Nong Biological (603363) also had mixed capital flows, with varying levels of institutional and retail investor activity [3]

（文章来源：证券日报） 证券日报网讯 8月18日晚间，天康生物发布公告称，公司于2025年8月18日召开的2025年第二次临时股 东大会审议通过了《关于修订并取消监事会、监事的议案》，取消了监事会设置。公司监事张涛女士、 杜英杰女士、刘江先生因治理结构调整，担任的第八届监事会监事职务自然免除。离任后，杜英杰女士 仍在公司任职，张涛女士、刘江先生不在公司任职。 ...

关于取消监事会、监事的公告 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。 天康生物股份有限公司（以下简称"公司"）于 2025 年 8 月 18 日召开的 2025 年第二次临时股东大会审议通过了《关于修订<公司章程>并取消监事会、监事的 议案》。根据《公司法》、《关于新<公司法>配套制度规则实施相关过渡期安排》、 《上市公司章程指引》、《关于印发<深化国有企业监事会改革实施方案>的通知》 （国资发改办[2024]51 号）等相关法律法规、规范性文件的规定，公司修订了《公 司章程》，取消了监事会设置，公司《监事会议事规则》等监事会相关制度相应 废止，各项制度中涉及监事会、监事的规定不再适用。公司监事张涛女士、杜英 杰女士、刘江先生因治理结构调整，担任的第八届监事会监事职务自然免除。离 任后，杜英杰女士仍在公司任职，张涛女士、刘江先生不在公司任职。 根据《公司法》相关规定，公司在《章程》修订中规定了由公司董事会审计 委员会承接监事会相关职责。本次监事离任后，公司治理结构符合《公司法》关 于"不设监事会或监事"的要求，不会影响公司内部监督机制的正常运行。 监事张 ...

天康生物 证券代码：002100 证券简称：天康生物 公告编号：2025-046 天康生物股份有限公司 2025 年第二次临时股东大会决议公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、 误导性陈述或者重大遗漏。 重要提示： 1、本次股东大会无增加、变更、否决提案的情况； 2、本次股东大会未涉及变更以往股东大会已通过的决议的情况。 一、 会议召开和出席情况 （一）会议召开时间 现场会议时间：2025 年 8 月 18 日上午 11：00 网络投票时间：2025 年 8 月 18 日，其中，通过深圳证券交易所交易系统进 行网络投票的具体时间为 2025 年 8 月 18 日上午 9:15—9:25，9:30—11:30 和下 午 13:00-15:00；通过深圳证券交易所互联网投票系统进行网络投票的具体时间 为 2025 年 8 月 18 日上午 9：15 至下午 15:00 任意时间。 （二）会议召开地点：新疆乌鲁木齐市高新区长春南路 528 号天康企业大 厦 11 楼公司 4 号会议室。 （三）会议召开方式：现场投票与网络投票相结合的方式。 （四）会议召集人：公司董事会 （五）主持 ...

天康生物 2025 年第二次临时股东大会法律意见书 新疆星河井然律师事务所 新疆星河井然律师事务所 关于天康生物股份有限公司 2025 年第二次临时股东大会之 法律意见书 星河证股字[2025]第 005 号 致：天康生物股份有限公司 新疆星河井然律师事务所（以下简称"本所"）接受天康生物股份有 限公司（以下简称"公司"）委托，指派律师出席公司 2025 年第二次临 时股东大会（以下简称"本次会议"），并根据《中华人民共和国证券法》 （以下简称"《证券法》"）、《中华人民共和国公司法》（以下简称"《公 司法》"）、《上市公司股东大会规则》（以下简称"《规则》"）、《深 圳证券交易所股票上市规则》（以下简称"《上市规则》"）和《天康生 物股份有限公司章程》（以下简称"《公司章程》"）的相关规定，就公 司本次会议的召集与召开程序、出席会议人员资格、召集人资格、会议表 决程序和表决结果的合法性等有关法律问题出具法律意见书。 为出具本法律意见书，本所律师对公司本次会议所涉及的有关事项进 行了审查，查阅了本所律师认为出具本法律意见书所必须查阅的文件，并 对有关问题进行了必要的核查和验证。 本法律意见书仅供本次会议见证之 ...

Investment Rating - The industry investment rating is "Positive" (maintained) [1] Core Insights - The report highlights that a new round of price increases for pigs may gradually begin, with the African swine fever vaccine opening growth opportunities for the animal health sector [4][5] - The report emphasizes that the investment logic for live pigs is marginally improving, supported by both fundamental and policy factors, with recommendations for specific companies [5][31] Summary by Sections Weekly Observation - As of August 15, 2025, the national average price of live pigs is 13.73 CNY/kg, with a week-on-week increase of 0.06 CNY/kg but a year-on-year decrease of 7.44% [4][13] - The price premium for 150kg fat pigs over 120kg standard pigs is 0.28 CNY/kg, indicating a tightening supply [4][13] Weekly Market Performance (August 11-15) - The agricultural sector underperformed the market by 1.84 percentage points, with the agricultural index down 0.14% while the Shanghai Composite Index rose by 1.70% [6][35] - Key stocks that led the gains include COFCO Sugar (+41.04%), Shunli Biological (+13.97%), and Xiaoming Co. (+8.86%) [6][35] Price Tracking (August 11-15) - The average price of live pigs on August 15 is 13.76 CNY/kg, a slight increase from the previous week [6][46] - The average price of piglets is 28.87 CNY/kg, showing a decrease of 5.03% from the previous week [6][46] - The average price of white feathered chickens is 7.20 CNY/kg, with a week-on-week increase of 0.84% [6][51] Key News (August 11-15) - The central government allocated 1.146 billion CNY for agricultural disaster relief, supporting major grain-producing provinces [6][41]

Investment Rating - The industry investment rating is "Positive" (maintained) [2] Core Viewpoints - The rhythm of pig sales led to July pig prices rising less than expected, but the outlook for future prices remains optimistic. In July 2025, the national average selling price of live pigs was 14.55 yuan/kg, up 1.89% month-on-month but down 23.21% year-on-year. The slaughter volume in July was 4.1583 million heads, down 3.67% month-on-month but up 1.80% year-on-year. The completion rate of pig sales in July was 97.11% of the planned output, with an increase of 6.60% in planned output for August compared to July [6][15][22]. Summary by Sections Industry Overview - The increase in pig prices in July was less than expected due to the accelerated growth rate of pigs in May and June, leading to earlier sales in July. The price peaked at 15.46 yuan/kg on July 3 and fell to 14.09 yuan/kg by the end of July. The supply gap and supportive policies suggest a positive outlook for future prices [6][15][18]. Supply and Structure - As of August 7, 2025, the proportion of large pigs (over 150kg) in the sales structure decreased, while the proportion of breeding stock increased. The breeding stock increased by 0.52% month-on-month, and the average profit per head for self-breeding and self-raising in July was 101.66 yuan, a month-on-month increase of 304.30% [7][16][22]. Corporate Performance - In July 2025, 12 listed pig companies reported a total of 15.2799 million heads sold, a year-on-year increase of 24.82%. The average selling prices for major companies increased month-on-month, with prices for companies like Muyuan, Wens, and New Hope rising by 1.6% to 3.4% [8][28][33].