天康生物 证券代码：002100 证券简称：天康生物 公告编号：2025-044 天康生物股份有限公司 第八届监事会第十八次（临时）会议决议公告 同意该项议案的票数为 2 票；反对票 0 票；弃权票 0 票； 本议案需提交公司 2025 年第二次临时股东大会审议。 二、备查文件 1、公司第八届监事会第十八次（临时）会议决议； 2、深交所要求的其他文件。 特此公告。 天康生物股份有限公司监事会 本公司及监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。 天康生物股份有限公司（以下简称"公司"）第八届监事会第十八次（临时） 会议通知于 2025 年 7 月 25 日以书面专人送达和电子邮件方式发出，并于 2025 年 8 月 1 日（星期五）上午 12：00 以通讯表决方式召开，公司 2 名监事参加了 会议，监事刘江已离任未出席本次会议。董事会秘书列席了会议，符合《公司法》 的有关规定，会议合法有效。会议由监事会主席张涛女士主持，会议就以下事项 形成决议： 一、议案审议情况 （一）审议并通过《关于修订<公司章程>并取消监事会、监事的议案》；（详 见刊登于 2025 年 8 月 ...

天康生物 证券代码：002100 证券简称：天康生物 公告编号：2025-040 天康生物股份有限公司 第八届董事会第二十六次（临时）会议决议公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或者重大遗漏。 天康生物股份有限公司（以下简称"公司"）第八届董事会第二十六次（临 时）会议通知于 2025 年 7 月 25 日以书面专人送达和电子邮件等方式发出，并于 2025 年 8 月 1 日（星期五）上午 11：00 分以通讯表决方式召开，应到会董事 7 人，实到会董事 7 人。公司部分监事及其他高级管理人员列席了会议。会议符合 《公司法》、《公司章程》的规定，会议合法有效。本次会议由董事长张杰先生 主持，经与会人员认真审议，形成如下决议： 一、议案审议情况 （一）审议并通过《关于修订<公司章程>并取消监事会、监事的议案》；（详 见刊登于 2025 年 8 月 2 日本公司规定信息披露报纸《证券时报》和巨潮资讯网 www.cninfo.com.cn 上的《天康生物股份有限公司关于修订<公司章程>及其附件 并取消监事会、监事的公告》<公告编号：2025-041>及《天康生物 ...

Market Overview - On August 1, the Xinjiang state-owned enterprise reform sector rose by 2.15%, led by Tianfu Energy [1] - The Shanghai Composite Index closed at 3559.95, down 0.37%, while the Shenzhen Component Index closed at 10991.32, down 0.17% [1] Stock Performance - Tianfu Energy (600509) closed at 6.59 with a gain of 2.01%, trading volume of 344,200 shares and a turnover of 227 million yuan [1] - Other notable stocks included Tiankang Biological (002100) with a 0.63% increase, and ST Zhongji (000972) with a 0.31% increase [1] - The overall performance of the Xinjiang state-owned enterprise reform sector showed mixed results, with some stocks experiencing slight declines [1] Capital Flow - The Xinjiang state-owned enterprise reform sector saw a net outflow of 441 million yuan from institutional investors, while retail investors contributed a net inflow of 214 million yuan [2] - The sector's capital flow indicates a divergence in investor sentiment, with institutional investors pulling back while retail investors remained active [2] Individual Stock Capital Flow - Qing Song Jian Hua (600425) had a net inflow of 14.21 million yuan from institutional investors, while Tianfu Energy (600509) saw a net inflow of 9.14 million yuan [3] - Conversely, stocks like Yili Te (600197) and Tiankang Biological (002100) experienced net outflows from institutional investors, indicating varying levels of confidence among different stocks [3]

Group 1 - The core viewpoint indicates that the cattle inventory has dropped to a ten-year low, leading to a three-year upward cycle in beef prices, while raw milk prices have fallen below cost, triggering capacity reduction. Leading companies like Modern Farming are expected to see a profit turning point by 2025 [1] - The livestock industry is entering a deep adjustment period, where high-quality companies with low costs and strong capital chains will stand out, indicating long-term high-quality development potential [1][2] - The investment opportunities in the pig industry are primarily driven by policy measures aimed at controlling new production capacity, which will accelerate the exit of inefficient and high-cost producers, thereby supporting prices [2] Group 2 - The pig industry has entered a stable development phase characterized by "capacity reduction + strong players," with market share redistribution occurring among existing players as low-efficiency and high-cost production gradually gets eliminated [2] - The criteria for high-quality companies are becoming clearer, focusing on low-cost breeding capabilities and sufficient capital reserves to withstand policy changes or price fluctuations [2] - The China Livestock Breeding Index (930707) includes major companies in the livestock sector, reflecting the overall performance of listed companies involved in livestock feed, pharmaceuticals, and breeding [2][3] Group 3 - As of July 31, 2025, the top ten weighted stocks in the China Livestock Breeding Index account for 64.83% of the index, including companies like Muyuan Foods, Wens Foodstuff, and Haida Group [3]

Group 1 - The stock price of Tiankang Biological on July 29 closed at 6.50 yuan, down 0.11 yuan, a decrease of 1.66% from the previous trading day [1] - The trading volume on that day was 293,400 hands, with a transaction amount of 190 million yuan, and a turnover rate of 2.15% [1] - Tiankang Biological's main business includes feed, veterinary drugs, pig farming, and slaughter processing within the agricultural and animal husbandry industry chain [1] Group 2 - The company is a significant agricultural and animal husbandry enterprise in the Xinjiang region, involved in multiple fields such as feed production and animal vaccines [1] - According to the company's statement on the investor interaction platform, the cost of pig farming has decreased to 13 yuan per kilogram by early 2025, which is at an industry-leading level [1] - The company maintains cost control stability through optimizing feed formulas, improving production efficiency, and enhancing industry chain collaboration, while actively expanding sales in markets outside Xinjiang [1]

Group 1 - The poultry concept sector experienced a decline of 1.12%, ranking among the top losers in the market, with notable declines in companies such as Wens Foodstuffs, Xiaoming Co., and Shennong Development [1][2] - The poultry sector saw a net outflow of 299 million yuan from major funds today, with 19 stocks experiencing net outflows, and 11 stocks seeing outflows exceeding 10 million yuan [2][3] - Wens Foodstuffs led the net outflow with 69.59 million yuan, followed by Tiankang Biological, Tangrenshen, and Lihua Co., with net outflows of 33.68 million yuan, 27.93 million yuan, and 26.47 million yuan respectively [2][3] Group 2 - The top stocks with net outflows in the poultry sector included Wens Foodstuffs (-2.06%), Tiankang Biological (-1.66%), and Tangrenshen (-0.81%), with respective turnover rates of 0.95%, 2.15%, and 2.93% [3][4] - Other companies in the poultry sector that experienced declines include New Hope (-1.00%), Giant Star Agriculture (-1.26%), and Xiaoming Co. (-1.94%), with varying turnover rates [3][4] - Conversely, stocks such as Huaying Agriculture, Chunxue Food, and Hefeng Co. saw net inflows of 6.70 million yuan, 5.44 million yuan, and 4.36 million yuan respectively, indicating some positive movement within the sector [2][4]

Market Overview - The feed sector experienced a decline of 1.07% on July 29, with Lude Environment leading the drop [1] - The Shanghai Composite Index closed at 3609.71, up 0.33%, while the Shenzhen Component Index closed at 11289.41, up 0.64% [1] Individual Stock Performance - Lude Environment (688156) closed at 20.02, down 2.58% with a trading volume of 34,800 shares and a transaction value of 69.87 million [1] - Other notable declines include: - Lusi Co. (832419) down 2.18% to 21.56 - Zhongchong Co. (002891) down 1.95% to 54.19 - Bangji Technology (603151) down 1.86% to 24.78 [1] Capital Flow Analysis - The feed sector saw a net outflow of 201 million from institutional investors, while retail investors contributed a net inflow of 96.49 million [1] - Specific stock capital flows include: - Jin Xin Nong (002548) with a net inflow of 10.17 million from institutional investors [2] - He Feng Co. (603609) with a net inflow of 5.69 million from institutional investors [2] - Petty Co. (300673) experienced a net outflow of 54,400 from institutional investors [2]

Group 1 - The opening of the Yarlung Zangbo River downstream hydropower project on July 19, 2025, has sparked significant interest in the A-share market, leading to the Shanghai Composite Index surpassing 3600 points and many listed companies experiencing a surge in stock prices [1] - Companies are increasingly attempting to capitalize on the popularity of the Yarlung Zangbo River project, with platforms like Shanghai Stock Exchange's e-Interaction and Shenzhen Stock Exchange's Interactive Easy becoming popular venues for these companies to "hitch a ride" on the hot topic [2][3] - The ability of listed companies to effectively engage in "hitching a ride" on market trends has improved significantly over the years, showcasing their growing sophistication in this area [3] Group 2 - Tian Kang Biological (002100.SZ) and Yuyue Medical (002223.SZ) have been recognized for their creative approaches to leveraging the Yarlung Zangbo project, with Tian Kang's strategy being particularly noted for its boldness [4] - Chongqing Steel (601005.SH) and Teruid (300001.SZ) have formed specialized technical teams to address the opportunities presented by the Yarlung Zangbo project, although questions have been raised about the timing of this decision [6] - Companies like Falan Tech (603966.SH), Anke Rui (300286.SZ), and Youfa Group (601686.SH) have been noted for their lengthy and elaborate responses regarding their involvement with the Yarlung Zangbo project, with varying degrees of clarity and relevance [8][10][11]

Core Viewpoint - The veterinary raw material drug market in China is expected to grow significantly, with a projected market size of approximately 185.1 billion yuan in 2024 and around 200 billion yuan in 2025, driven by increased demand and favorable economic conditions [1][8]. Industry Characteristics and Classification - Veterinary raw material drugs are pharmacologically active substances used directly in the manufacture of veterinary drug formulations, characterized by specificity, regulatory requirements, and high technical barriers [2][4]. - They can be classified by chemical properties into synthetic raw materials, biotechnological raw materials, and natural extracts, and by usage into antimicrobial drugs, antiparasitic drugs, antipyretic analgesics, and diagnostic/treatment aids [4][5]. Current Development Status - The veterinary drug industry in China has rapidly developed, becoming a significant part of the global veterinary drug market, with a projected market size of approximately 600 billion yuan in 2024 and 635 billion yuan in 2025 [6][8]. Market Size and Growth - The veterinary raw material drug market is expected to see a growth from 185.1 billion yuan in 2024 to 200 billion yuan in 2025, reflecting a recovery in demand and controlled supply [8][10]. Market Segmentation - Antimicrobial drugs dominate the veterinary raw material drug market, holding an 84% market share, while antiparasitic drugs account for about 11% [10]. Industry Chain - The industry chain includes upstream components such as basic chemical raw materials and intermediates, midstream production of raw materials through chemical synthesis and fermentation, and downstream processing into veterinary drug formulations for livestock and pet healthcare [12]. Competitive Landscape - The veterinary raw material drug industry in China has a low concentration level, with major companies including Haisheng Pharmaceutical, Qihui Pharmaceutical, Guobang Pharmaceutical, and Puluo Pharmaceutical, among others [14][16]. - The industry is experiencing a shift towards larger, more capable firms as regulatory standards improve, leading to a potential increase in market concentration [14]. Key Enterprises - Guobang Pharmaceutical reported a revenue of 1.831 billion yuan from animal health raw materials in 2024, with a gross margin of 18.86% [16]. - Haisheng Pharmaceutical achieved a revenue of 112 million yuan from raw materials in 2024, with a gross margin of 36.28% [18]. Technology Development Trends - The production of raw materials and intermediates requires significant investment in research and development to improve process technology and compete in higher-margin sectors [20].

Investment Rating - Investment rating for the agriculture, forestry, animal husbandry, and fishery industry is "Positive" (maintained) [1] Core Viewpoints - The industry is experiencing a supply contraction due to overselling of live pigs since June, leading to a potential increase in pig prices in Q3 2025. The average selling price of live pigs in June 2025 was 14.28 yuan/kg, down 2.28% month-on-month and down 21.99% year-on-year [4][15] - The supply-demand dynamics are improving, with the gross white price difference strengthening month-on-month. As of July 17, 2025, the gross white price difference was 4.71 yuan/kg, an increase of 0.45 yuan/kg compared to June, although lower than the same period in 2024 [5][27] - The industry is entering a critical supply contraction phase, with expectations for the price center of live pigs to rise monthly [4][15] Summary by Sections Industry Overview - Since June, the overselling of live pigs has intensified, leading to a supply contraction. The average price of live pigs in June 2025 was 14.28 yuan/kg, reflecting a month-on-month decrease of 2.28% and a year-on-year decrease of 21.99% [4][15] - The monitoring sample indicated a slaughter volume of 4.3168 million heads in June 2025, down 6.20% month-on-month but up 12.22% year-on-year [4][15] Supply and Demand Dynamics - The gross white price difference has improved, indicating a stronger supply-demand balance. The national frozen product storage rate was 16.85%, down 0.03 percentage points year-on-year [5][27] - The industry is currently in a supply contraction phase, with expectations for the price center of live pigs to rise gradually [4][15] Company Performance - As of July 10, 2025, 12 listed pig farming companies reported a total of 16.1481 million heads sold in June, a year-on-year increase of 45.98% [6][34] - The average selling prices for major listed pig companies decreased month-on-month, with specific companies reporting the following prices: Muyuan Foods at 14.08 yuan/kg, Wens Foodstuff Group at 14.39 yuan/kg, and New Hope Liuhe at 14.18 yuan/kg [7][41]