格隆汇1月9日丨天康生物(002100.SZ)公布，12月份销售生猪29.59万头，销量环比下降4.12%，同比下降 6.06%；销售收入3.69亿元，销售收入环比下降12.14%，同比下降30.38%。2025年12月份商品猪（扣除 仔猪、种猪后）销售均价10.66元/公斤，环比下降3.96%。2025年1-12月，公司累计销售生猪319.02万 头，较去年同期增长5.34%；累计销售收入45.47亿元，较去年同期下降10.69%。 ...

天康生物公告，2025年12月份销售生猪29.59万头，销量环比下降4.12%，同比下降6.06%；销售收入 3.69亿元，销售收入环比下降12.14%，同比下降30.38%。2025年12月份商品猪（扣除仔猪、种猪后）销 售均价10.66元/公斤，环比下降3.96%。2025年1-12月，公司累计销售生猪319.02万头，较去年同期增长 5.34%；累计销售收入45.47亿元，较去年同期下降10.69%。 (本文来自第一财经) ...

人民财讯1月9日电，天康生物（002100）1月9日公告，公司2025年12月份销售生猪29.59万头，销量环 比下降4.12%，同比下降6.06%；销售收入3.69亿元，销售收入环比下降12.14%，同比下降30.38%。 2025年12月份商品猪(扣除仔猪、种猪后)销售均价10.66元/公斤，环比下降3.96%。2025年1—12月，公 司累计销售生猪319.02万头，较上年同期增长5.34%；累计销售收入45.47亿元，较上年同期下降 10.69%。 ...

格隆汇1月9日｜天康生物公告称，2025年12月销售生猪29.59万头，销量环比降4.12%，同比降6.06%； 销售收入3.69亿元，环比降12.14%，同比降30.38%。当月商品猪销售均价10.66元/公斤，环比降 3.96%。2025年1-12月，累计销售生猪319.02万头，同比增5.34%；累计销售收入45.47亿元，同比降 10.69%。公告提示，销售数据未经审计，仅为生猪业务，与定期报告可能有差异。 ...

天康生物公告，2025年12月份销售生猪29.59万头，销量环比下降4.12%，同比下降6.06%；销售收入 3.69亿元，环比下降12.14%，同比下降30.38%。2025年12月份商品猪销售均价10.66元/公斤，环比下降 3.96%。2025年1-12月，公司累计销售生猪319.02万头，较去年同期增长5.34%；累计销售收入45.47亿 元，较去年同期下降10.69%。 ...

天康生物 证券代码：002100 证券简称：天康生物 公告编号：2026-001 天康生物股份有限公司 关于 2025 年 12 月份生猪销售简报 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。 一、2025 年 12 月份生猪销售情况 天康生物股份有限公司（以下简称"公司"）2025 年 12 月份销售生猪 29.59 万头，销量环比下降 4.12%，同比下降 6.06%；销售收入 3.69 亿元，销售收入环 比下降 12.14%，同比下降 30.38%。 | 2025 | 年 | 10 | 月 | 30.35 | 258.58 | 4.15 | 37.58 | 10.97 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 2025 | 年 | 11 | 月 | 30.86 | 289.44 | 4.20 | 41.78 | 11.10 | | 2025 | 年 | 12 | 月 | 29.59 | 319.02 | 3.69 | 45.47 | 10.66 | 注：因四舍五入，以上数据 ...

Core Insights - The feed sector experienced a rise of 0.74% on January 9, with Baiyang Co., Ltd. leading the gains [1] - The Shanghai Composite Index closed at 4120.43, up 0.92%, while the Shenzhen Component Index closed at 14120.15, up 1.15% [1] Feed Sector Performance - Baiyang Co., Ltd. (002696) closed at 7.40, with a gain of 4.52% and a trading volume of 212,900 shares, amounting to a transaction value of 154 million yuan [1] - Tianma Technology (603668) closed at 17.05, up 2.40%, with a trading volume of 206,300 shares and a transaction value of 348 million yuan [1] - Dabeinong (002385) closed at 4.08, up 0.99%, with a trading volume of 983,400 shares and a transaction value of 400 million yuan [1] - Haida Group (002311) closed at 53.51, up 0.98%, with a trading volume of 94,800 shares and a transaction value of 501 million yuan [1] - Other notable companies include Jinxinnong (002548), Hefeng Co., Ltd. (603609), and Petty Co., Ltd. (300673), with respective closing prices and gains [1] Capital Flow Analysis - The feed sector saw a net outflow of 9.33 million yuan from main funds, while retail funds experienced a net inflow of 30.09 million yuan [2] - Dabeinong had a main fund net inflow of 42.81 million yuan, while Haida Group saw a net outflow of 60.89 million yuan from retail investors [3] - Baiyang Co., Ltd. had a main fund net inflow of 16.28 million yuan, with retail investors also showing a net outflow [3]

Core Viewpoint - The live pig futures market in China has developed significantly over the past five years, becoming an essential tool for stabilizing operations in the pig farming industry and enhancing its resilience against cyclical fluctuations [3][9]. Market Capacity - The liquidity of live pig futures has steadily improved, with the total trading volume reaching 17.993 million contracts and an average daily trading volume of 74,000 contracts by 2025, compared to 25,000 contracts and 60,000 contracts in 2021 [3][9]. - The average open interest has increased to 213,000 contracts, with levels maintained above 300,000 contracts since November 2025 [3][9]. Industry Participation - Over 3,000 industry enterprises are involved in live pig futures trading, with 24 out of 32 major pig companies participating in trading or delivery [3][9]. - Notable companies such as Muyuan Foods, Shennong Group, and others have issued announcements related to hedging with live pig futures [3][9]. Delivery Layout - The delivery network for live pig futures has expanded to cover 22 provinces, with 58 delivery warehouses established, up from 14 at the time of launch [4][10]. - The Dalian Commodity Exchange has optimized contract specifications and introduced new delivery methods to enhance efficiency and service to industry participants [4][10]. Risk Management and Support for Rural Revitalization - The Dalian Commodity Exchange has supported 774 "insurance + futures" projects, covering over 15.4 million pigs and providing compensation of 748 million yuan to farmers [4][10]. - These initiatives have benefited approximately 28,700 farming households across major pig-producing provinces [4][10]. Price Discovery - Live pig futures serve as a reference for macroeconomic policy formulation and production planning for farming enterprises, reflecting policy impacts quickly in market prices [5][10]. - The futures market has become a critical tool for large-scale enterprises to manage price volatility and stabilize supply-demand dynamics in the industry [5][11]. Industry Insights - Companies like Sichuan Dekang Agricultural Group have actively engaged in hedging since the launch of live pig futures, using it as a standard operational method to secure profits [11][12]. - Shaanxi Shiyang Agricultural Technology Co., Ltd. emphasizes the importance of futures in improving cash flow and stabilizing operations amid industry cycles [12][13]. Market Evolution - The rapid development of live pig futures has led to increased transparency in market information, allowing enterprises and farmers to make informed decisions [13]. - The market's growth reflects a deepening integration between futures and the real economy, with expectations for a more resilient and efficient live pig futures market in the future [13].

Group 1 - The pork concept sector declined by 0.28%, ranking among the top declines in concept sectors, with major declines seen in companies like Jingji Zhino, Luoniushan, and Tianyu Biological [1] - Among the 16 stocks that rose, Yisheng Shares, Longda Meishi, and Guangming Meat Industry had the highest increases of 2.51%, 0.97%, and 0.63% respectively [1] - The pork concept sector experienced a net outflow of 189 million yuan from main funds, with 19 stocks seeing net outflows, and 8 stocks with outflows exceeding 10 million yuan [2] Group 2 - The top net outflow was from Haida Group, with a net outflow of 63.29 million yuan, followed by Luoniushan, Zhengbang Technology, and Jingji Zhino with outflows of 60.56 million yuan, 33.99 million yuan, and 20.80 million yuan respectively [2] - The stocks with the highest net inflows included Wens Shares, Muyuan Foods, and Tiankang Biological, with net inflows of 29.18 million yuan, 14.76 million yuan, and 11.47 million yuan respectively [2] - The pork concept sector's outflow list included Haida Group, Luoniushan, Zhengbang Technology, and Jingji Zhino, all showing negative performance [3]

Market Overview - The feed sector experienced a decline of 1.08% on December 31, with TianKang Biological leading the drop [1] - The Shanghai Composite Index closed at 3968.84, up 0.09%, while the Shenzhen Component Index closed at 13525.02, down 0.58% [1] Individual Stock Performance - JinXinNong (002548) saw a significant increase of 9.95%, closing at 6.08, with a trading volume of 816,900 shares and a transaction value of 479 million [1] - TianKang Biological (002100) declined by 3.03%, closing at 7.37, with a trading volume of 337,500 shares and a transaction value of 250 million [2] - Other notable performers include ZhiYang Co. (002696) with a 1.00% increase, and Boen Group (001366) with a 0.91% increase [1] Capital Flow Analysis - The feed sector experienced a net outflow of 75.87 million from institutional investors, while retail investors saw a net inflow of 22.40 million [2] - JinXinNong had a net inflow of 64.54 million from institutional investors, but a net outflow of 36.08 million from retail investors [3] - TianMa Technology (603668) had a net inflow of 11.83 million from institutional investors, while retail investors experienced a net outflow of 13.32 million [3]