生猪养殖月度跟踪：7 月猪价冲高回落，关注产能去化 20250819 摘要 近期生猪行业的整体情况如何？ 近期生猪行业处于价格探底阶段，猪价创下约一年半以来的新低。这一现象主 要由于被动去产能、政策引导下的持续减产能及环保政策收紧等因素所致。7 月份，仔猪、活猪和猪肉的均价分别为 35.7 元/公斤、34.91 元/公斤和 25.37 元/公斤，同比下降 18.65%、20.05%和 12.8%。环比来看，仔猪价格下降 4.09%，活猪和猪肉价格则分别小幅上涨 1.72%和 0.31%。截至 8 月上旬， 生猪出栏均价回落至 13.82 元/公斤，并在最近一周进一步回落。 截至 2025 年 8 月 8 日，自繁自养生猪头均盈利 45.13 元，外购仔猪持 续亏损，每头亏损 134.14 元，表明自繁自养模式维持小幅盈利，而外 购仔猪亏损进一步扩大。 2025 年 7 月牧原、温氏、新希望、正邦等主要生猪养殖企业出栏量环 比变动分别为-10.4%、5.24%、2.07%、-2.16%，17 家上市企业合 计出栏 1,581 万头，环比下滑 5.3%，但正邦和东瑞销量同比翻倍。 2025 年 7 月牧原、温氏、 ...

东 兴 晨 报 东兴晨报 P1 经济要闻 1. 国务院：总理李强 8 月 18 日主持召开国务院第九次全体会议。李强强 调，要进一步提升宏观政策实施效能，深入评估政策实施情况，及时回应 市场关切，稳定市场预期。要抓住关键着力点做强国内大循环。持续激发 消费潜力，系统清理消费领域限制性措施，加快培育壮大服务消费、新型 消费等新增长点。加力扩大有效投资，发挥重大工程引领带动作用，适应 需求变化更多"投资于人"、服务于民生，积极促进民间投资。纵深推进 全国统一大市场建设，不断释放超大规模市场红利。采取有力措施巩固房 地产市场止跌回稳态势。要在深化改革开放中增强发展动力，推进科技创 新和产业创新深度融合，激发各类经营主体的创新创造活力。坚定不移扩 大高水平对外开放，有序扩大自主开放和单边开放。要更大力度稳定就业 保障民生，加强防灾减灾救灾和安全生产监管，确保社会大局稳定。 （资 料来源：同花顺，央视） 5. 财政部： 2025 年 1—7 月财政收支情况。其中，1—7 月，全国政府性 基金预算收入 23124 亿元，同比下降 0.7%。分中央和地方看，中央政府性 基金预算收入 2596 亿元，同比增长 8.8%；地方 ...

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].

Group 1 - The core viewpoint of the article is that Zhengbang Technology reported significant growth in pig sales and revenue for the first seven months of 2025, indicating a strong performance in the livestock sector [2] Group 2 - In July 2025, the company sold 695,200 pigs, which includes 405,400 piglets and 289,800 market pigs, representing a month-on-month increase of 2.16% and a year-on-year increase of 202.44% [2] - The sales revenue for July 2025 was 741 million yuan, showing a month-on-month decrease of 4.48% but a year-on-year increase of 91.38% [2] - The average selling price of market pigs (excluding piglets) was 14.31 yuan per kilogram, which is an increase of 1.83% compared to the previous month [2] Group 3 - From January to July 2025, the company sold a total of 4.2718 million pigs, which is a year-on-year increase of 134.83% [2] - The cumulative sales revenue for the same period reached 4.818 billion yuan, reflecting a year-on-year increase of 126.72% [2]

Group 1: Company Announcements - Puyuan Precision plans to issue H-shares and list on the Hong Kong Stock Exchange [4] - Wanxing Technology intends to issue H-shares and list on the Hong Kong Stock Exchange [11] - Liou Co. plans to use no more than 3 billion yuan of its own funds for securities investment [13] - Guangdong Hongda's subsidiary intends to acquire 60% equity of Changzhilin for 1.02 billion yuan [12] Group 2: Financial Performance and Investments - GSK Gas plans to use 350 million yuan of raised funds for the Wuhan GSK Semiconductor Electronic Gas Station project, with a total investment of 503 million yuan [3] - Lianyungang's wholly-owned subsidiary plans to invest 548.8 million yuan in shipbuilding [2] - Hongjing Optoelectronics plans to invest 1.533 billion yuan in the construction of its R&D and manufacturing headquarters [9] Group 3: Regulatory Issues - Jihua Group is under investigation by the China Securities Regulatory Commission for suspected information disclosure violations [7] - *ST Gaohong may face forced delisting due to major violations related to fraudulent issuance of shares and false records in annual reports from 2015 to 2023 [8] Group 4: Sales Performance - Jingji Zhinnong reported sales of 3.51 billion yuan from selling 203,600 pigs in July, with a cumulative sales revenue of 2.243 billion yuan from January to July [8] - Zhengbang Technology reported sales of 7.41 billion yuan from selling 695,200 pigs in July, with a cumulative sales revenue of 4.818 billion yuan from January to July, showing significant year-on-year growth [10] Group 5: Share Transfers - Anzheng Fashion's shareholder plans to transfer 5.35% of the company's shares at a price of 6.78 yuan per share, totaling 141 million yuan [5] - Bidetech's actual controller and associates plan to transfer 29.9% of the company's shares to Dinglong Qishun for 897 million yuan [6]

Group 1: Investment Announcements - Panjiang Co. plans to increase investment by 55.8 million yuan in its wholly-owned subsidiary, New Energy Zhenning Co., for the construction of a wind power project with a total investment of 279 million yuan [1] - Lianyungang's wholly-owned subsidiary, Yunport Ferry Co., intends to invest 548.8 million yuan in building a passenger and vehicle ferry, having signed a construction contract with Huanghai Shipbuilding Co. [1] - Guanggang Gas plans to use 350 million yuan of raised funds for the Wuhan Guanggang Semiconductor Electronic Gas Station project, with a total planned investment of 503 million yuan [1] - Hongjing Optoelectronics intends to invest in a new R&D and manufacturing headquarters with a total investment of 1.533 billion yuan [6] Group 2: Share Transfers - Anzheng Fashion's shareholder plans to transfer 5.35% of the company's shares, totaling 20.8 million shares at a price of 6.78 yuan per share, amounting to 141 million yuan [2] - Bidetech's actual controllers plan to transfer 29.9% of the company's shares, totaling 56.1672 million shares at a price of 15.97 yuan per share, amounting to 897 million yuan [3] Group 3: Financial Performance - Jingji Zhino reported sales of 203,600 pigs in July, generating revenue of 351 million yuan, with a cumulative sales revenue of 2.243 billion yuan from January to July [6] - Zhengbang Technology reported sales of 695,200 pigs in July, with a revenue of 741 million yuan, showing a year-on-year increase of 91.38% and a cumulative revenue of 4.818 billion yuan from January to July [6] - Shuoshi Bio reported a 1.05% decrease in revenue to 176 million yuan for the first half of the year, with a net profit decline of 86.35% to 3.9926 million yuan [9] Group 4: Regulatory Issues - Jihua Group is under investigation by the China Securities Regulatory Commission for suspected information disclosure violations [4] - *ST Gaohong received a notice indicating potential major illegal delisting due to fraudulent issuance of shares and false records in annual reports from 2015 to 2023 [4] Group 5: Other Announcements - Wanjing Technology plans to issue H-shares and list on the Hong Kong Stock Exchange [7] - Guangdong Hongda's subsidiary intends to acquire 60% of Changzhilin for 1.02 billion yuan, enhancing its defense equipment business [7] - Lio Co. approved a plan to use up to 3 billion yuan of its own funds for securities investments [8]

证券代码：002157 证券简称：正邦科技 公告编号：2025—043 江西正邦科技股份有限公司 关于对外担保的进展公告 本公司及董事会全体成员保证信息披露内容的真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 一、担保情况概述 （二）公司于 2025 年 4 月 23 日召开第八届董事会第四次会议，审议通过了 《关于在 2025 年度为子公司担保预计额度内增加被担保对象的议案》，同意在 原批准的 2025 年度新增担保预计额度内增加 8 家子公司为被担保对象，2025 年 度公司新增担保预计额度将不会发生变化。含本次新增被担保子公司，资产负债 率 70%以上的子公司可享担保总额度为 110,000 万元，资产负债率 70%以下的子 公司可享担保总额度为 100,000 万元。在全年预计担保总额范围内，各下属控股 子公司的担保额度可以在同类担保对象间调剂使用，担保期限为自 2024 年年度 股东大会通过之日起至 2025 年 12 月 31 日。 本议案已经公司 2024 年年度股东大会审议通过。上述具体内容详见公司 2025 年 4 月 25 日披露于巨潮资讯网的《关于在 2025 年度为子公司担保 ...

江西正邦科技股份有限公司（以下简称"公司"）的经营范围中包括生猪养殖 业务，现公司就每月生猪销售情况进行披露，具体内容如下： 江西正邦科技股份有限公司 关于2025年7月份生猪销售情况简报 一、2025年7月份生猪销售情况 公司2025年7月销售生猪69.52万头（其中仔猪40.54万头，商品猪28.98万头）， 环比上升2.16%，同比上升202.44%；销售收入7.41亿元，环比下降4.48%，同比上 升91.38%。 证券代码：002157 证券简称：正邦科技 公告编号：2025—042 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、误导性陈述或重大遗漏。 2025年1-7月，公司累计生猪销售数量及销售收入同比上升较大主要是公司业 务逐步恢复所致。 商品猪（扣除仔猪后）销售均价14.31元/公斤，较上月上升1.83%。 2025年1-7月，公司累计销售生猪427.18万头，同比上升134.83%；累计销售 收入48.18亿元，同比上升126.72%。 上述数据均未经审计，与定期报告披露的数据之间可能存在差异。因此，上 述数据仅作为阶段性数据，供投资者参考。 | 月份 | | ...

Core Viewpoint - The pig farming industry is entering a new cycle of prosperity, with Zhengbang Technology showing signs of recovery after overcoming significant financial difficulties [1][2]. Financial Performance - Zhengbang Technology is expected to achieve revenue between 190 million to 210 million yuan in the first half of the year, successfully turning a profit compared to the same period last year [4]. - The company's net profit attributable to shareholders, excluding non-recurring gains and losses, is projected to be between 50 million to 70 million yuan [4]. - From 2021 to 2024, Zhengbang Technology reported cumulative net losses of 34.819 billion yuan, with total liabilities reaching 34.83 billion yuan in 2022 and a debt-to-asset ratio of 148.38% [2][3]. Support and Restructuring - Zhengbang Technology received substantial support from various government and financial institutions, including 33 banks that provided continuous lending support [2][3]. - The "white knight" Twin Group took over Zhengbang Technology in December 2023, injecting 4.34 billion yuan to aid in its restructuring [3]. Operational Recovery - The company has resumed operations at 59 pig farms and 16 feed mills, with feed sales increasing by 94% year-on-year to 1.24 million tons [3]. - As of the first quarter of this year, Zhengbang Technology's total liabilities decreased to 8.717 billion yuan, with a debt-to-asset ratio of 44.91% [3]. Stock Performance - Despite improved financial metrics, Zhengbang Technology's stock price remains low at 2.83 yuan per share, down 3.08% since the beginning of 2025, and has decreased nearly 90% from its peak of 25.98 yuan per share [5]. - The company's market capitalization has evaporated by over 200 billion yuan [5]. Industry Context - The pig farming industry has entered a low-profit era, where only companies with strong cost control can thrive [6]. - Zhengbang Technology's current fattening cost is 13.3 yuan per kilogram, which, while reduced, still lags behind industry leaders [6]. - There are indications of a potential decline in pork prices, which could impact future profitability [6]. Conclusion - While Zhengbang Technology has navigated past bankruptcy risks and financial distress, the company faces a long road ahead in a competitive and challenging pig farming industry [7].

Group 1: Company Performance - BeiGene reported a net profit of 450 million yuan for the first half of 2025, marking a turnaround from losses in the previous year, with product revenue increasing by 45.8% to 17.36 billion yuan and total revenue rising by 46.0% to 17.52 billion yuan [1] - CITIC Securities announced that Huaxia Fund achieved an operating income of 4.258 billion yuan and a net profit of 1.123 billion yuan in the first half of 2025, with total comprehensive income of 1.106 billion yuan [3] - Shanghai Pudong Development Bank's net profit for the first half of 2025 was 29.737 billion yuan, reflecting a year-on-year growth of 10.19%, with total operating income of 90.559 billion yuan, up 2.62% [6] - Xianhe Co. plans to invest approximately 11 billion yuan in a new integrated high-performance paper-based material project, with an expected annual output value of about 5.15 billion yuan from the first phase [7] - Shengmei Shanghai reported a net profit of 696 million yuan for the first half of 2025, representing a year-on-year increase of 56.99% [14] Group 2: Regulatory and Corporate Actions - Sino Medical's subsidiary received breakthrough medical device designation from the FDA for its intracranial atherosclerosis treatment product, marking it as the first of its kind globally [2] - *ST Dongtong's actual controller and chairman is under investigation by the China Securities Regulatory Commission for suspected violations of information disclosure laws [8] - Tianyang Technology is planning to purchase equity in Tonglian Financial Services, with key transaction details still under negotiation [10] - Dongfang Guoxin's major shareholder reduced their stake by 2.68 million shares, decreasing their total shareholding from 27.06% to 26.82% [5] - Filinger's president reduced his holdings by 8,600 shares during a period of stock price volatility, while other executives did not sell shares [4]