Group 1 - The company achieved a sales revenue of 1.639 billion yuan in June 2025, representing an 8.61% increase year-on-year and a 6.44% increase month-on-month [2] - In the poultry breeding and processing segment, chicken sales revenue was 1.164 billion yuan, a 4.28% increase year-on-year and a 1.06% increase month-on-month [2] - The deep processing meat products segment saw sales revenue of 821 million yuan, a significant 29.77% increase year-on-year and a 17.27% increase month-on-month [2] Group 2 - For the first half of 2025, the company experienced steady growth across all segments, with an increasing proportion of deep processing products [3] - The company’s all-channel strategy has been effective, with retail C-end and export channels maintaining rapid growth, leading to an optimized sales structure [3] - The cost advantages have been further solidified, with the new self-developed breeding chicken "Shengze 901Plus" fully replaced, contributing to a decrease in comprehensive meat production costs compared to the same period in 2024 [3]

证券代码：002299 证券简称：圣农发展 公告编号：2025-037 福建圣农发展股份有限公司 2、上述财务数据均未经审计，可能与公司定期报告披露的数据存在一定差 异，仅作为阶段性财务数据供投资者参考，敬请广大投资者注意投资风险。 本公司及董事会全体成员保证公告内容真实、准确和完整，不存在虚假记载、误导性陈 述或者重大遗漏。 一、2025 年 6 月份销售情况 福建圣农发展股份有限公司（以下简称"公司"）2025 年 6 月实现销售收入 16.39 亿元，较去年同期增长 8.61%，较上月环比增长 6.44%。其中，家禽饲养加 工板块鸡肉销售收入为 11.64 亿元，较去年同期增长 4.28%，较上月环比增长 1.06%；深加工肉制品板块销售收入为 8.21 亿元，较去年同期增长 29.77%，较 上月环比增长 17.27%。 销量方面，6 月份家禽饲养加工板块鸡肉销售数量为 12.32 万吨，较去年同 期增长 3.17%，较上月环比增长 3.36%；深加工肉制品板块产品销售数量为 4.17 万吨，较去年同期增长 42.76%，较上月环比增长 11.48%。 二、说明 2025 年 1-6 月，公司各板块销 ...

Core Viewpoint - The company, Shengnong Development, reported a sales revenue of 1.639 billion yuan for June 2025, reflecting an 8.61% year-on-year increase and a 6.44% month-on-month increase [1] Group 1: Sales Revenue - The poultry farming and processing segment generated sales revenue of 1.164 billion yuan, marking a 4.28% increase year-on-year and a 1.06% increase month-on-month [1] - The deep-processed meat products segment achieved sales revenue of 821 million yuan, showing a significant 29.77% year-on-year increase and a 17.27% month-on-month increase [1] Group 2: Sales Volume - In June, the poultry farming and processing segment sold 123,200 tons of chicken, which is a 3.17% increase year-on-year and a 3.36% increase month-on-month [1] - The deep-processed meat products segment sold 41,700 tons, reflecting a substantial 42.76% year-on-year increase and an 11.48% month-on-month increase [1]

Summary of the Conference Call for Xingnong Development Company Overview - **Company**: Xingnong Development - **Industry**: Poultry and Food Processing Key Points and Arguments Financial Performance - In the first half of 2025, Xingnong Development's revenue from C-end retail and export segments grew by over 30% year-on-year, while the B-end catering channel maintained steady growth. B-end and C-end sales accounted for over 60% of total revenue, indicating a continuous optimization of the revenue structure [2][4] - The net profit attributable to shareholders is expected to be between 850 million to 950 million, representing a year-on-year increase of 732% to 830%. The non-recurring net profit is projected to be between 330 million to 420 million [3] Cost Control and Management - The company effectively controlled costs through various measures, including the complete replacement of the 901 variety, digital management, and optimized procurement strategies. During the period of rising soybean meal prices, the actual procurement cost was significantly lower than market prices, which greatly improved profitability [2][6][9] - Risk management strategies such as basis trading and pricing transactions were employed to manage procurement costs for soybean meal and corn, ensuring that cost pressures remain manageable [5][10][11] Acquisition and Integration - The consolidation of Sun Valley resulted in a one-time impact of approximately 540 million due to fair value changes. However, operational improvements have significantly enhanced profitability, with future cost reduction and efficiency potential expected to drive greater profit growth [2][7][12] Market Opportunities and Sales Channels - The company capitalized on changes in the domestic retail market by increasing penetration in membership and discount store systems, while also actively exploring emerging export markets such as Russia, Hong Kong, and Southeast Asia, leading to significant growth across all sales channels [2][8] - The premium pricing of Shengrong chicken products stems from the advantages of a fully integrated supply chain, food safety, and stable processes, with nearly 60% of sales coming from B-end, C-end, and export channels [2][16] Future Outlook - The company anticipates a cautious outlook for chicken prices in the second half of 2025, as supply indicators remain historically high, although a seasonal uptick in demand may occur [17] - The food segment's revenue share is expected to continue increasing, with a goal of reaching nearly 45% in the first half of the year. The company aims to enhance brand development and profitability over time [18] Competitive Advantages - Xingnong Development possesses several competitive advantages in the C-end market, including strong service capabilities, product innovation, and a comprehensive supply chain that ensures food safety and animal welfare [19][20] - The company is focused on expanding its market share in the domestic white feather chicken breeding market, with a goal of leading the market with domestic varieties [22][23] Dividend Policy - Xingnong Development has maintained a high dividend payout ratio of approximately 60-70% in recent years and is likely to continue or even increase this ratio due to strong cash flow and reduced capital expenditure [24] Additional Important Information - The company has identified new opportunities in the Chinese catering sector, leveraging its experience with Western fast food giants to meet the growing demand for standardized products and stable supply chains [19] - The integration of Sun Valley is expected to contribute approximately 200 million in annual profits, enhancing overall profitability [12][14]

Group 1 - A-share market is experiencing a wave of positive earnings forecasts, with 83 out of 107 companies predicting better-than-expected results, accounting for nearly 80% [1] - Among the companies, 61 are expected to report net profits exceeding 100 million yuan, representing nearly 60% of the total [1] - Notable performers include Industrial Fulian, Lixun Precision, Xinhecheng, and Yun Aluminum, all of which are expected to report net profits exceeding 1 billion yuan [1] Group 2 - Industrial Fulian anticipates a net profit of over 12 billion yuan for the first half of the year, a year-on-year increase of nearly 40%, driven by strong growth in cloud computing and AI server businesses [1] - Lixun Precision expects a profit range of 6.475 billion to 6.745 billion yuan, reflecting a year-on-year growth of 20% to 25% [1] - Xinhecheng forecasts a net profit between 3.3 billion and 3.75 billion yuan, with a year-on-year increase of 50% to 70%, mainly due to rising sales and prices of vitamins [1] Group 3 - 24 companies are predicting a year-on-year net profit increase of over 100%, with Huayin Power expecting a staggering increase of 3600% to 4.423 billion yuan [3] - Other companies like Shen Shen Fang A and Saint Farm are also projecting significant profit increases, with some exceeding 400% [3] - The average stock price of companies that have released earnings forecasts has risen by 27.03% this year, significantly outperforming the market [3] Group 4 - Financing activities have accelerated towards companies with positive earnings forecasts, with 49 companies experiencing net capital inflows [3] - Notably, Xiaoshangpin City has received a net capital inflow of 373 million yuan since July, with an expected net profit growth of over 12% [3] - Overall, despite macroeconomic challenges, leading companies are achieving stable growth due to their core competitiveness [3]

Group 1 - Shennong Development expects a net profit of 850 million to 950 million yuan for the first half of 2025, representing a year-on-year increase of 732.89% to 830.88% [1] - Sifang New Materials announced that its directors and senior executives collectively reduced their holdings by 80,000 shares, in line with a previously announced reduction plan [1] - Alliance Electronics plans to transfer 3.68% of its shares through a price inquiry, totaling 6.1869 million shares, due to the shareholders' funding needs [1][2] Group 2 - Yongtai Technology clarified that its patent for "a preparation method of lithium bis(fluorosulfonyl)imide" is still valid and has not been declared invalid [3] - Guibao Pet plans to invest 650 million yuan in building an intelligent warehousing and sorting center to enhance operational efficiency [4] - Deep Deep Housing A expects a net profit of 85 million to 120 million yuan for the first half of 2025, with a year-on-year increase of 1411.70% to 2034.17% [7] Group 3 - Shandong Steel anticipates a net profit of 12.71 million yuan for the first half of 2025, marking a turnaround from a loss of approximately 98.1 million yuan year-on-year [7] - Tangrenshen reported a June sales revenue of 698 million yuan from pig sales, a year-on-year increase of 26% [9] - Dongfang Zhongke plans to reduce its holdings by up to 3% of its shares due to the financial needs of a major shareholder [10] Group 4 - Weichuang Electric obtained six patents and two software copyrights between April 1 and June 30, 2025 [11] - Zhenai Home plans to reduce its holdings by up to 3% due to the financial needs of a major shareholder [13] - Xingwang Yuda's actual controller intends to reduce its holdings by up to 3% for personal financial needs [15] Group 5 - Guangyun Da intends to acquire 56.03% of Yilian Infinite for 352 million yuan, gaining control of the company [16] - Chao Tu Software's actual controller plans to reduce holdings by up to 2% due to personal financial needs [17] - Weixing Intelligent's actual controller plans to reduce holdings by up to 1.99% for personal financial needs [18] Group 6 - ST Dongshi is facing a bankruptcy reorganization application due to its inability to repay debts, with potential delisting risks if the court accepts the application [19][20] - Tongwei Co. plans to reduce its holdings by up to 1% due to personal financial needs [21] - Borui Pharmaceutical received approval for clinical trials of its drug for chronic obstructive pulmonary disease [22] Group 7 - Shuangwei New Materials announced progress in its control change plan, leading to the resumption of its stock trading [24] - Yunnei Power's stock is under risk warning due to false financial disclosures, with a name change to "ST Yun Dong" [26][28]

Group 1 - Xi Jinping emphasized the development of wind power, hydrogen energy, and other energy sources to build a new energy system while ensuring coal supply responsibilities [1] - The coal industry is encouraged to transition from low-end to high-end products, moving from primary fuels to high-value products [1] Group 2 - Trump announced a 50% tariff on copper products and up to 200% on pharmaceuticals, causing New York copper futures to surge by 17% to a record high [2] - The potential tariffs could increase costs for many industries reliant on copper and disrupt the global copper supply chain [2] Group 3 - The State Council issued a directive to promote the application of AI large models and new technologies in government services to enhance administrative efficiency [3] - The focus is on ensuring safety while steadily advancing the integration of these technologies [3] Group 4 - Tongwei Co. stated that there is no confirmed news regarding the recent rumors of silicon material storage, but prices for silicon materials have significantly increased [4] - The photovoltaic sector is actively responding to market conditions, leading to notable performance among silicon material companies [4] Group 5 - The Chinese government is set to release June CPI data, which may impact market expectations and investment strategies [5] - Investment advice emphasizes avoiding foolish mistakes rather than trying to appear overly clever, highlighting the importance of long-term advantages [5] Group 6 - Various securities firms suggest that "anti-involution" and AI are key drivers for market growth, with potential for major financial and cyclical resource sectors to lead the way [6][7] - There is a high probability of the Shanghai Composite Index breaking through the 3500-point mark, with financial and technology sectors expected to play crucial roles [7] Group 7 - Seven departments jointly released opinions to accelerate the construction of a universal childcare service system, indicating growth potential in the maternal and infant sector [8] - Zhejiang province launched a consumption promotion action for the summer of 2025, focusing on cultural tourism and sports events, which may benefit related sectors [9] Group 8 - Meta reportedly invested $3.5 billion in a European partner for AI smart glasses, which are expected to be a key application for AI technology [10] - The market is anticipated to enter a phase of intensive new product releases, benefiting the related industry chain [10] Group 9 - Shen Shen Fang A reported a net profit of 85 million to 120 million yuan for the first half of the year, marking a year-on-year increase of 1411.70% to 2034.17% [11] - Shengnong Development expects a net profit of 850 million to 950 million yuan for the first half of the year, reflecting a year-on-year growth of 732.89% to 830.88% [13]

Core Viewpoint - The leading chicken producer, Shengnong Development, is expected to report a significant increase in net profit for the first half of the year, with projections indicating a growth of over 700% compared to the previous year [2]. Financial Performance - Shengnong Development anticipates a net profit attributable to shareholders of between 850 million to 950 million yuan, representing a year-on-year increase of 732.89% to 830.88% [2]. - The company's non-recurring net profit is projected to be between 330 million to 420 million yuan, reflecting a year-on-year growth of 256.20% to 353.35% [2]. - The expected net profit midpoint suggests that the company's earnings for the first half of the year may reach a five-year high [2]. Growth Drivers - The company attributes its performance improvement to three main factors: 1. Continued rapid growth in retail channels, with stable growth in export and catering sectors, leading to an optimized revenue structure [2]. 2. Strengthened cost advantages through lean management practices and increased self-use of the new self-developed chicken breed "Shengze 901 Plus," resulting in a significant reduction in overall meat production costs compared to the same period last year [2]. 3. The completion of the controlling merger with Taiyanggu, generating an investment income of approximately 540 million to 550 million yuan, alongside improved operational efficiency from prior industry empowerment and lean management [2]. Sales Performance - In the sales report for May, Shengnong Development noted stable growth in fresh food product sales and a 9% increase in deep-processed product sales, with the proportion of deep-processed products continuing to rise [2]. Stock Performance - Following the profit forecast announcement, Shengnong Development's stock price rose rapidly, with an increase of over 20% from January 13 to April 11 [3]. - Recently, the stock has experienced a slight increase over six consecutive trading days, with a cumulative rise of 5.74%, although it remains 14.86% below its year-to-date high [3].

Group 1 - The Chinese government emphasizes the need for Shanxi to implement strategies for ecological protection and high-quality development in the Yellow River basin [1] - The State Council Premier Li Qiang reassures that the Chinese economy can withstand external shocks and will support overseas Chinese enterprises [2] - The Ministry of Foreign Affairs reiterates China's stance against protectionism and trade wars, stating that there are no winners in such conflicts [3] Group 2 - In June, the retail sales of passenger cars in China reached 2.11 million units, a year-on-year increase of 18.6%, with new energy vehicles accounting for 1.111 million units, up 29.7% [6] - Changan Group is preparing for a restructuring, with a plan to be finalized in August [7] - Hunan province discovers a significant lithium ore deposit of 490 million tons, with lithium oxide resources amounting to 131,000 tons [9] - Northern Rare Earth reports a recovery in export orders for rare earth products and maintains a positive outlook on future price trends [10] - Several companies, including Shengnong Development and Juhua Co., expect substantial increases in net profits for the first half of the year, with projections ranging from 733% to 2034% [12]

Group 1 - US stock market showed mixed results with Dow Jones down 0.37%, Nasdaq up 0.03%, and S&P 500 down 0.07% [1] - Tesla rebounded by 1.32% and Nvidia increased by 1.12%, both reaching new highs [1] - Meta Platforms and Apple saw increases of up to 0.32%, while Microsoft decreased by 0.22% and Google A dropped by 1.37% [1] Group 2 - Trump seeks to tighten clean energy tax regulations, leading to a decline in solar stocks, with SunRun falling over 11% [2] - Trump announced a 50% tariff on copper and a 200% tariff on pharmaceuticals, resulting in the largest increase in copper futures since 1968 [2] Group 3 - Meta invested $3.5 billion in EssilorLuxottica to advance its AI glasses strategy [3] Group 4 - SpaceX, owned by Musk, achieved a valuation of approximately $400 billion during a stock sale [4][11] Group 5 - Hugging Face released an open-source top model featuring dual-mode reasoning and 128K context, marking a significant advancement in AI [5] Group 6 - The 2025 Esports World Cup will be held in Riyadh, Saudi Arabia, with a total prize pool exceeding $70 million [6] Group 7 - Germany warned that the EU is prepared to retaliate if a fair trade agreement cannot be reached [7] Group 8 - Morgan Stanley predicts TSMC will continue to exceed expectations in Q2, with strong advanced process orders, although the appreciation of the New Taiwan Dollar may pose profitability challenges [8] Group 9 - The Chinese government is promoting the application of new technologies like AI in public services, as outlined in a recent policy document [9] Group 10 - Pacific Securities noted that multiple indices broke through their consolidation ranges, indicating a strong short-term market trend [10] - Everbright Securities suggested that if the Shanghai Composite Index surpasses 3500 points, it could further boost market confidence and attract more capital [10] Group 11 - Shentong Express partnered with Cainiao to accelerate the application of unmanned delivery vehicles, aiming to deploy 2000 unmanned vehicles by the end of the year [12] - Guohai Securities highlighted that the development of regulations for unmanned vehicles is paving the way for the logistics industry's standardization [12] Group 12 - The National Development and Reform Commission and six other departments released a plan to enhance the childcare service system, projecting the market size for childcare services in China to reach 151.81 billion yuan by 2024 [16]