Group 1: WuXi AppTec - WuXi AppTec expects a revenue of approximately RMB 45.456 billion for 2025, representing a year-on-year growth of about 15.84%, with a 21.40% increase in revenue from continuing operations [1] - The adjusted net profit attributable to shareholders is projected to be around RMB 14.957 billion, reflecting a year-on-year growth of approximately 41.33% [1] - The net profit attributable to shareholders, excluding non-recurring gains and losses, is expected to be about RMB 13.241 billion, with a year-on-year increase of approximately 32.56% [1] Group 2: Shanghai Port Group - Shanghai Port Group reported a total revenue of RMB 39.44 billion for 2025, which is a year-on-year increase of 3.5% [2][3] - The net profit attributable to shareholders decreased by 10.4% to RMB 13.4 billion [2][3] - The net profit attributable to shareholders, excluding non-recurring gains and losses, fell by 8.1% to RMB 12.2 billion [2][3] Group 3: Zangge Mining - Zangge Mining forecasts a net profit attributable to shareholders between RMB 3.7 billion and RMB 3.95 billion for 2025, indicating a growth of 43.41% to 53.10% year-on-year [4] - The net profit, excluding non-recurring gains and losses, is expected to be between RMB 3.87 billion and RMB 4.12 billion, reflecting a growth of 51.95% to 61.76% [4] Group 4: Sanan Optoelectronics - Sanan Optoelectronics anticipates a net loss attributable to shareholders between RMB -200 million and RMB -400 million for 2025, compared to a profit of RMB 253 million in the previous year [5] - The net profit, excluding non-recurring gains and losses, is expected to be between RMB -750 million and RMB -850 million [5] Group 5: JA Solar Technology - JA Solar Technology projects a net loss attributable to shareholders between RMB -4.5 billion and RMB -4.8 billion for 2025 [12] - The company maintains a leading position in battery module shipments, but faces significant pressure on sales prices and profitability due to industry competition and supply-demand imbalances [12] Group 6: Rongbai Technology - Rongbai Technology expects a net loss attributable to the parent company between RMB -150 million and RMB -190 million for 2025 [18] - The company anticipates a turnaround in the fourth quarter with a projected net profit of approximately RMB 30 million [18] Group 7: Sanxiang New Materials - Sanxiang New Materials forecasts a net profit attributable to shareholders between RMB 100 million and RMB 130 million for 2025, representing a year-on-year growth of 31.99% to 71.58% [21] - The company is focusing on expanding its zirconium product chain and optimizing its customer structure to enhance profitability [21]

（编辑 任世碧） 证券日报网讯 1月12日，圣农发展发布2025年12月份销售情况简报称，公司2025年12月份实现销售收入 18.61亿元，较去年同期增长11.03%，较上月环比增长2.84%。其中，家禽饲养加工板块鸡肉销售收入为 13.85亿元，较去年同期增长5.18%，较上月环比增长9.14%；深加工肉制品板块销售收入为9.48亿元， 较去年同期增长50.87%，较上月环比变动-2.97%。销量方面，2025年12月份家禽饲养加工板块鸡肉销售 数量为14.76万吨，较去年同期增长14.28%，较上月环比增长7.54%；深加工肉制品板块产品销售数量为 4.92万吨，较去年同期增长51.01%，较上月环比变动-6.01%。 ...

Investment Rating - The report maintains a "Recommended" rating for the agricultural, forestry, animal husbandry, and fishery industry [9][66]. Core Insights - The swine industry is entering an accelerated phase of capacity reduction, presenting opportunities at the bottom of the market. Regulatory measures are being reinforced to control pig prices, with expectations of a gradual adjustment rather than aggressive interventions. The focus is on low-cost performance and dividend increases for value reassessment, particularly for leading companies like Muyuan Foods and WH Group [1][14]. - The poultry sector is expected to see improvements in fundamentals, with historical highs in the number of breeding stock updates. The price dynamics are currently low, but there is potential for marginal changes in the cycle. Recommended companies include Shennong Development and Lihua Agricultural [2][28]. - The animal health sector is advancing with the clinical trials of the African swine fever subunit vaccine, which has received approval for clinical trials. The likelihood of domestic vaccine market entry is increasing, with recommended companies including BioFeng and Kexin Biological [3][6]. - The pet industry continues to grow rapidly, with significant improvements in profitability. Recommended companies in the pet food sector include GuaiBao Pet and ZhongChong Co., while in the pet medical sector, RuiPu Biological is highlighted [9][60]. Summary by Sections Swine Industry - The swine industry is experiencing a capacity reduction phase, with regulatory measures aimed at stabilizing prices. The average price of pigs in December 2025 was 11.59 CNY/kg, with a slight month-on-month decrease. The number of breeding sows has decreased by 1.1% month-on-month and 2.1% year-on-year [13][14]. - Recommended companies include Muyuan Foods and WH Group, with additional attention on Dekang Agriculture, Shennong Group, and Juxing Agriculture [1][14]. Poultry Industry - The poultry sector is seeing a potential improvement in fundamentals, with breeding stock updates reaching historical highs. The average price for broiler chickens was 3.9 CNY/jin, with a slight increase [26][28]. - Recommended companies are Shennong Development and Lihua Agricultural [2][28]. Animal Health - The animal health sector is focused on the progress of the African swine fever vaccine trials, with the first round of trials proceeding as planned. The second round is set to begin by the end of March 2026 [3][6]. - Companies to watch include BioFeng, Kexin Biological, and RuiPu Biological [6]. Pet Industry - The pet market is projected to reach a scale of 300.2 billion CNY in 2024, with a year-on-year growth of 7.5%. The average annual spending per pet dog is 2,961 CNY, while for cats, it is 2,020 CNY [59][60]. - Recommended companies include GuaiBao Pet, ZhongChong Co., and Peidi Co. in the pet food sector, and RuiPu Biological in the pet medical sector [9][60]. Feed Industry - The feed industry is experiencing price fluctuations, with the price of feed for fattening pigs at 3.34 CNY/kg, showing a month-on-month increase [47][48]. - Recommended companies include Haida Group and HeFeng Co. [48]. Planting Industry - Grain prices have increased year-on-year, with corn prices at 2,250 CNY/ton, showing a 10.5% increase compared to the previous year [41][46]. - Companies to focus on include SuKan Agricultural Development, LongPing High-Tech, and DengHai Seeds [7][46].

Investment Rating - The industry investment rating is "Overweight," indicating that the industry is expected to outperform the overall market [4]. Core Insights - The report highlights a rebound in pig prices, which are stabilizing and maintaining strength. The focus is also on the pet industry following the release of a white paper on the sector [1][3]. - The report suggests that the supply of pigs remains ample in the first half of 2026, with a prolonged bottoming period expected for the industry cycle. The logic for a rebound in 2026 remains intact, presenting potential investment opportunities [3][4]. Summary by Sections Pig Farming - As of January 11, the national average price for external three yuan pigs is 12.70 yuan/kg, reflecting a week-on-week increase of 2.1%. The supply of large pigs is tight, and the enthusiasm for secondary fattening has increased, leading to a temporary tightening of the market [3]. - The price of weaned piglets has also risen, reaching 251 yuan/head, nearing industry cost levels. The report notes that the production capacity reduction has slowed down, with a slight increase in the number of breeding sows [3][4]. Pet Industry - The 2026 China Pet Industry White Paper indicates that the urban pet consumption market reached 312.6 billion yuan in 2025, growing by 4.1% year-on-year. The dog market accounted for 160.6 billion yuan, while the cat market reached 152.0 billion yuan [3]. - The average annual spending per pet owner has shown a slight increase, with dog owners spending an average of 3,006 yuan and cat owners spending 2,085 yuan [3]. Chicken Farming - The average price for white feather broiler chicks has decreased to 3.15 yuan/chick, a week-on-week decline of 6.5%. Despite this, the supply of broilers remains tight, with the average price for broiler chickens at 3.79 yuan/kg [3]. - The report emphasizes that the theme of abundant supply in the white feather chicken market will continue into 2025-2026, and it suggests focusing on leading companies in the sector [3].

Core Viewpoint - The company reported a sales revenue of 1.861 billion yuan for December 2025, marking an 11.03% increase year-on-year and a 2.84% increase month-on-month [1] Group 1: Sales Performance - The poultry farming and processing segment generated chicken sales revenue of 1.385 billion yuan, reflecting a 5.18% year-on-year increase and a 9.14% month-on-month increase [1] - The deep-processed meat products segment achieved sales revenue of 948 million yuan, showing a significant 50.87% increase year-on-year, although it experienced a month-on-month decline of 2.97% [1] Group 2: Sales Volume - In December, the poultry farming and processing segment sold 147,600 tons of chicken, which is a 14.28% increase compared to the same month last year and a 7.54% increase from the previous month [1] - The deep-processed meat products segment sold 49,200 tons, representing a 51.01% year-on-year increase, but a month-on-month decrease of 6.01% [1] Group 3: Cost Management and Product Strategy - The company effectively controlled overall costs despite rising expenses due to seasonal factors, achieving a more than 5% year-on-year reduction in comprehensive meat production costs for the entire year of 2025 [1] - The company continues to optimize its product structure by increasing the proportion of high-value-added deep-processed products, thereby enhancing its profitability resilience [1]

面对因季节性因素带来的保温费用等成本上升，公司通过精细化运营与动态成本管控，有效实现了整体 成本的良好控制，2025年全年综合造肉成本同比实现超5%的降幅。同时，公司持续优化产品结构，提 升高附加值深加工品的占比，进一步增强盈利韧性。 格隆汇1月12日丨圣农发展(002299.SZ)公布，公司2025年12月实现销售收入18.61亿元，较去年同期增长 11.03%，较上月环比增长2.84%。其中，家禽饲养加工板块鸡肉销售收入为13.85亿元，较去年同期增长 5.18%，较上月环比增长9.14%；深加工肉制品板块销售收入为9.48亿元，较去年同期增长50.87%，较上 月环比变动-2.97%。 销量方面，12月份家禽饲养加工板块鸡肉销售数量为14.76万吨，较去年同期增长14.28%，较上月环比 增长7.54%；深加工肉制品板块产品销售数量为4.92万吨，较去年同期增长51.01%，较上月环比变 动-6.01%。 ...

人民财讯1月12日电，圣农发展（002299）1月12日公告，公司2025年12月实现销售收入18.61亿元，较 上年同期增长11.03%，较上月增长2.84%。其中，家禽饲养加工板块鸡肉销售收入为13.85亿元，较上年 同期增长5.18%，较上月增长9.14%；深加工肉制品板块销售收入为9.48亿元，较上年同期增长50.87%， 较上月下降2.97%。 ...

证券代码：002299 证券简称：圣农发展 公告编号：2026-001 面对因季节性因素带来的保温费用等成本上升，公司通过精细化运营与动态 成本管控，有效实现了整体成本的良好控制，2025 年全年综合造肉成本同比实 现超 5%的降幅。同时，公司持续优化产品结构，提升高附加值深加工品的占比， 进一步增强盈利韧性。 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 12 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 12 月实现销售收 入 18.61 亿元，较去年同期增长 11.03%，较上月环比增长 2.84%。其中，家禽饲 养加工板块鸡肉销售收入为 13.85 亿元，较去年同期增长 5.18%，较上月环比增 长 9.14%；深加工肉制品板块销售收入为 9.48 亿元，较去年同期增长 50.87%， 较上月环比变动-2.97%。 销量方面，12 月份家禽饲养加工板块鸡肉销售数量为 14.76 万吨，较去年 同期增长 14.28%，较上月环比增长 7.54%；深加工肉制品板块产品销售数量为 4.92 万吨，较去年同期增长 5 ...

圣农发展公告称，2025年12月公司实现销售收入18.61亿元，同比增长11.03%，环比增长2.84%。其中， 家禽饲养加工板块鸡肉销售收入13.85亿元，同比增长5.18%，环比增长9.14%，销量14.76万吨，同比增 长14.28%，环比增长7.54%；深加工肉制品板块销售收入9.48亿元，同比增长50.87%，环比降2.97%， 销量4.92万吨，同比增长51.01%，环比降6.01%。2025年全年综合造肉成本同比降超5%。 ...

证券之星消息，1月12日养殖业板块较上一交易日上涨0.04%，福成股份领涨。当日上证指数报收于 4165.29，上涨1.09%。深证成指报收于14366.91，上涨1.75%。养殖业板块个股涨跌见下表： 从资金流向上来看，当日养殖业板块主力资金净流出2.33亿元，游资资金净流出1677.8万元，散户资金净 流入2.5亿元。养殖业板块个股资金流向见下表： | 代码 | 名称 | 主力净流入 (元) | 主力净占比 游资净流入(元) | | 游资净占比 散户净流入 (元) | | 散户净占比 | | --- | --- | --- | --- | --- | --- | --- | --- | | 600965 福成股份 | | -5099.47万 | 22.49% | -2642.87万 | -11.66% | -2456.60万 | -10.84% | | 300498 温氏股份 | | 3317.98万 | 4.38% | -3850.21万 | -5.08% | 532.22万 | 0.70% | | 002299 | 圣农发展 | 1479.95万 | 5.82% | -975.27万 | -3.84% ...