证券代码：002234 证券简称：民和股份 公告编号：2025-050 一、融资租赁事项概述 根据实际经营需要，公司计划与招银金融租赁有限公司签订《融资租赁合同》， 开展一笔售后回租的融资租赁业务，租赁本金为5,000万元，租赁期限为24个月 （自起租日起算）。 根据《深圳证券交易所股票上市规则》等规定，本次融资租赁事项在董事会 审批权限内，无需提交公司股东会审议。公司与招银金融租赁有限公司无关联关 系，本次融资租赁事项不构成关联交易，亦不属于《上市公司重大资产重组管理 办法》中规定的重大资产重组。 山东民和牧业股份有限公司 关于开展融资租赁业务的公告 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。 山东民和牧业股份有限公司（以下简称"公司"或"本公司"）于2025年 11月7日召开第九届董事会第四次会议，审议通过了《关于开展融资租赁业务的 议案》。具体情况如下： 公司第九届董事会第四次会议审议通过《关于开展融资租赁业务的议案》， 并授权公司董事长孙宪法先生代表公司办理与该融资机构融资有关的事项，所有 内容以签订的合同文件为准。 二、交易对方基本情况 1、交易 ...

证券代码：002234 证券简称：民和股份 公告编号：2025-052 山东民和牧业股份有限公司 关于召开 2025 年第二次临时股东会的通知 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。 根据《中华人民共和国公司法》、《深圳证券交易所股票上市规则》、《山 东民和牧业股份有限公司公司章程》等有关规定，山东民和牧业股份有限公司（以 下简称"本公司"或"公司"）拟召开2025年第二次临时股东会，现将有关具 体事项通知如下： 一、会议召开的基本情况 1、股东会届次 3、会议召开的合法合规性 本次会议的召集、召开符合《中华人民共和国公司法》、《深圳证券交易所 股票上市规则》、《深圳证券交易所上市公司自律监管指引第1号——主板上市 公司规范运作》等法律、行政法规、部门规章、规范性文件及《公司章程》的有 关规定。 （1）现场会议召开时间：2025年11月24日14:30 （2）网络投票时间： 2025年第二次临时股东会 2、股东会召集人 山东民和牧业股份有限公司董事会 4、会议召开时间 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11月24日 9:15- ...

证券代码：002234 证券简称：民和股份 公告编号：2025-049 山东民和牧业股份有限公司 第九届董事会第四次会议决议公告 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。 一、董事会会议召开情况 山东民和牧业股份有限公司（以下简称"公司"或"本公司"）关于召开第 九届董事会第四次会议的通知于2025年10月27日以电话通知、邮件和专人送达 的形式发出。会议于2025年11月7日以现场和通讯相结合方式在山东省烟台市蓬 莱区南关路2号附3号公司会议室召开。会议应参加表决董事9人，实际参加表决 9人，其中独立董事王德良、王熠华、鞠硕以通讯形式参与表决。会议由董事长 孙宪法主持，高级管理人员列席会议。本次会议的召集、召开和表决程序符合《公 司法》和《公司章程》的有关规定，会议合法有效。 二、董事会会议审议情况 独立董事召开第九届董事会独立董事专门会议第一次会议审议并同意该事 项。此议案尚需提交股东会审议。 3、审议通过《关于制定<董事及高级管理人员薪酬管理制度>的议案》 表决结果：9票同意，0票反对，0票弃权。 经与会董事认真审议，通过以下议案： 1、审议通过《 ...

Group 1 - The core viewpoint indicates that the pig farming industry is experiencing a shift towards capacity reduction due to declining pig prices and policy-driven measures, which may lead to a long-term increase in pig prices [1][2] - In Q1-Q3 2025, pig farming enterprises achieved a revenue of 341.27 billion yuan, a year-on-year increase of 8.32%, and a net profit of 22.18 billion yuan, up 14.29% year-on-year [1] - The total number of pigs slaughtered by 12 major pig farming companies reached 123.99 million heads, reflecting a year-on-year increase of 19.45% [1] Group 2 - The current market conditions show weak pig prices, both in reality and expectations, which, combined with policy initiatives, are likely to initiate a capacity reduction in the pig farming industry [2] - The latest price-to-book ratio (PB) for the livestock farming index tracked by the breeding ETF is 2.59 times, which is lower than 80.93% of the time over the past five years, indicating a favorable valuation [2] - The industry is expected to see a contraction in supply, which may enhance the profitability and valuation of quality pig farming companies, suggesting a positive outlook for the breeding ETF [2]

Core Insights - The aquaculture sector experienced a 1.0% increase on October 31, with Tianyu Biological leading the gains [1] - The Shanghai Composite Index closed at 3954.79, down 0.81%, while the Shenzhen Component Index closed at 13378.21, down 1.14% [1] Aquaculture Sector Performance - Tianyu Biological (603717) closed at 9.16, up 4.93% with a trading volume of 254,000 shares and a transaction value of 234 million [1] - Huaying Agriculture (002321) closed at 2.90, up 4.69% with a trading volume of 654,900 shares and a transaction value of 188 million [1] - Other notable performers include *ST Tianshan (300313) up 3.34%, Luoniushan (000735) up 2.37%, and Xiaoming Co. (300967) up 1.65% [1] Capital Flow Analysis - The aquaculture sector saw a net inflow of 290 million from institutional investors, while retail investors experienced a net outflow of 190 million [2] - Major stocks like Muyuan Foods (002714) had a net inflow of 203 million, while Wens Foodstuffs (300498) had a net inflow of 61 million [3] - The overall trend indicates a shift in capital, with institutional investors showing confidence in the sector while retail investors are withdrawing [2][3]

Group 1 - The core point of the article is that ST Huaton reported significant growth in its Q3 2025 financial results, with a notable increase in both revenue and net profit [1] Group 2 - The company's Q3 revenue reached 10.016 billion yuan, representing a year-on-year growth of 60.19% [1] - The net profit attributable to shareholders was 1.701 billion yuan, showing a substantial year-on-year increase of 163.78% [1]

Core Points - The aquaculture sector experienced a decline of 1.31% on October 30, with Tianyu Biology leading the drop [1] - The Shanghai Composite Index closed at 3986.9, down 0.73%, while the Shenzhen Component Index closed at 13532.13, down 1.16% [1] Stock Performance - Yisheng Co. (002458) closed at 9.03, up 0.33% with a trading volume of 97,800 shares and a turnover of 88.43 million yuan [1] - Xiantan Co. (002746) closed at 6.31, up 0.32% with a trading volume of 154,800 shares and a turnover of 97.81 million yuan [1] - Tianyu Biology (603717) closed at 8.73, down 3.64% with a trading volume of 155,200 shares and a turnover of 137 million yuan [2] - Huaying Agriculture (002321) closed at 2.77, down 3.15% with a trading volume of 424,400 shares and a turnover of 119 million yuan [2] Capital Flow - The aquaculture sector saw a net outflow of 188 million yuan from institutional investors, while retail investors had a net inflow of 141 million yuan [2] - The main capital inflow and outflow for specific stocks included: - Jingji Zhinnong (000048) had a net inflow of 19.99 million yuan from main capital [3] - Wens Foodstuff Group (300498) had a net inflow of 7.96 million yuan from main capital [3] - Yisheng Co. (002458) had a net inflow of 3.79 million yuan from main capital [3]

Investment Rating - The industry investment rating is "Recommended" with an expectation that the industry index will exceed the benchmark index by more than 5% in the next 3-6 months [3][51]. Core Insights - The report indicates that after a decline, the price of broilers has stabilized while the price of chicks remains high and fluctuating. In September, the average price of broilers was 6.99 yuan/kg, down 3.22% year-on-year and 2% month-on-month [9][8]. - The report highlights a significant loss in broiler farming, with losses of 1 yuan per bird in September, and a loss of 0.41 yuan per chick in hatcheries, indicating a substantial decline in profitability [41][41]. - The demand for poultry meat is expected to improve in 2025 due to a recovery in consumption, despite current pressures on prices and demand [44]. Summary by Sections Market Overview - In September, the price of broilers experienced a decline followed by stabilization, with a fixed transaction period lasting over 20 days. The average price of chicks fluctuated between 3.03 and 3.31 yuan per chick during the month [8][8]. - The average price of chicken products was 8712.92 yuan/ton, reflecting a year-on-year decrease of 3.77% [9]. Production Capacity - As of September 2025, the average stock of parent stock was 22.92 million sets, up 2.0% year-on-year, while the average stock of backup parent stock decreased by 1.7% [34][34]. - The average stock of grandparent stock was 1.36 million sets, showing a year-on-year increase of 1.7% [27][30]. Sales Performance - In September, the sales volume of chicken meat from major companies showed positive growth, with Shengnong's chicken sales increasing by 10.57% year-on-year and Xiantan's chicken sales rising by 23.64% [16][24]. - The sales revenue for the chicken segment in September was reported at 13 billion yuan for Shengnong, reflecting a year-on-year increase of 9.52% [12]. Investment Recommendations - The report suggests focusing on companies like Shengnong Development, Yisheng Shares, and Hefeng Shares, anticipating improvements in profitability and valuation recovery in the poultry sector [44].

Core Insights - The aquaculture sector experienced a 2.28% increase on October 27, with Shengnong Development leading the gains [1] - The Shanghai Composite Index closed at 3996.94, up 1.18%, while the Shenzhen Component Index closed at 13489.4, up 1.51% [1] Aquaculture Sector Performance - Shengnong Development (002299) closed at 16.97, up 4.24% with a trading volume of 239,800 shares and a transaction value of 403 million yuan [1] - Other notable performers included: - Bangxi Co., Ltd. (300967) at 22.05, up 4.01% [1] - Yisheng Co., Ltd. (002458) at 9.17, up 3.62% [1] - Lihua Co., Ltd. (300761) at 22.15, up 3.12% [1] - Muyu Co., Ltd. (002714) at 50.25, up 2.84% with a transaction value of 2.24 billion yuan [1] Capital Flow Analysis - The aquaculture sector saw a net inflow of 102 million yuan from institutional investors, while retail investors experienced a net outflow of 613.2 million yuan [2] - Key stocks with significant capital flow included: - Muyuan Foods (002714) with a net inflow of 234 million yuan from institutional investors [3] - Shennong Group (605296) with a net inflow of 22.49 million yuan [3] - Xinnong Co., Ltd. (000876) with a net inflow of 22.84 million yuan [3]

Core Insights - Minhe Holdings (002234.SZ) released its Q3 2025 report on October 25, 2025, indicating a total of 3 institutional investors holding shares, amounting to 8.31 million shares, which represents 2.38% of the total share capital [1] Institutional Holdings - The total institutional holding increased by 0.17 percentage points compared to the previous quarter [1] - The institutional investors include Zheshang Bank Co., Ltd. - Guotai CSI Livestock Breeding ETF, Agricultural Bank of China Co., Ltd. - Yinhua Agricultural Industry Equity Fund, and Kunlun Trust Co., Ltd. [1] Public Fund Holdings - One public fund increased its holdings this period, specifically the Guotai CSI Livestock Breeding ETF, with an increase of 0.58% [1] - One new public fund disclosed this quarter is the Yinhua Agricultural Industry Equity Fund [1] - A total of 22 public funds were not disclosed this quarter, including CITIC Securities Value Growth A, China Merchants CSI Livestock Breeding ETF, Livestock ETF, Guojin Quantitative Multi-Factor A, and Guojin Quantitative Select A [1]