Core Insights - The report emphasizes a favorable outlook for the livestock sector, particularly dairy farming, anticipating a significant cyclical reversal benefiting Hong Kong-listed dairy farming companies [1][12] - The investment strategy highlights a recommended monthly portfolio including leading companies in various segments such as dairy, pig farming, and pet food [1][3] Livestock Sector - The livestock sector is expected to experience a cyclical reversal, with both beef and milk prices projected to rise, driven by a reduction in domestic beef production and a historical low in milk prices [14][29] - Key recommendations include Yuran Dairy and Modern Farming, which are positioned to benefit from the anticipated price recovery in raw milk and beef [14][17] Pig Farming Sector - The pig farming sector is witnessing a stabilization in prices, with a notable increase in piglet prices, indicating a potential recovery in profitability for leading companies [20][21] - Recommended companies in this sector include Muyuan Foods, Wens Foodstuffs, and Huazhong Holdings, which are expected to benefit from improved cash flow and dividend returns [3][15] Poultry Sector - The poultry sector is seeing a slight increase in supply, with expectations of demand recovery supporting price stability, particularly for broiler chickens [22][24] - Leading companies such as Lihua Agricultural and Shengnong Development are highlighted for their competitive advantages in cost management and market positioning [18][19] Pet Food Sector - The pet food market is identified as a high-growth area, benefiting from rising consumer sentiment and the emergence of domestic brands [16][18] - Companies like Guibao Pet Food are recommended for their strong growth potential in this segment [3][16] Feed Sector - The feed industry is expected to deepen its industrialization, with leading companies leveraging technological and service advantages to enhance competitive positioning [1][3] - The report notes that feed prices are at historical lows, providing a supportive cost structure for producers [20][21] Agricultural Products - The report tracks agricultural product prices, noting fluctuations in pork, chicken, and feed prices, with implications for overall market dynamics [2][21] - The analysis indicates that soybean meal prices are at historical lows, while corn prices are stabilizing, suggesting a tightening supply-demand balance in the medium term [20][21]

| 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 002311 | 海大集团 | 53.67 | 4.15% | 14.98万 | 7.96亿 | | 603609 | 末丰股份 | 7.42 | 1.92% | 5.93万 | 4362.88万 | | 001366 | 播恩集团 | 14.46 | 1.90% | 4.33万 | 6220.39万 | | 603668 | 天马科技 | 15.80 | 1.80% | 1 20.15万 | 3.21亿 | | 002100 | 天康生物 | 7.13 | 1.42% | 25.50万 | 1.80亿 | | 603151 | 邦墓科技 | 18.75 | 1.41% | 3.27万 | 6118.84万 | | 002696 | 百洋股份 | 7.64 | 1.33% | 6.99万 | 5335.42万 | | 002567 | 唐人神 | 4.40 | 1.15% | 24.67万 | 1.08亿 | | 603363 | 傲农生物 | 4 ...

Core Viewpoint - The agricultural sector is experiencing positive momentum, with the Agricultural ETF (Hua Xia, 516810) showing gains and increased investor interest following the release of the 2026 Central No. 1 Document, which emphasizes food security and agricultural modernization [1]. Group 1: Agricultural Sector Performance - As of February 4, the Agricultural ETF (Hua Xia, 516810) is trading positively, with holdings such as Nongfa Seed Industry rising over 5% [1]. - Other companies like Haida Group, Muyuan Foods, Tianma Technology, and Denghai Seeds are also seeing upward movement [1]. - In the past five days, the ETF has attracted a net inflow of 19.39 million yuan, indicating heightened interest in the sector [1]. Group 2: Policy Implications - The 2026 Central No. 1 Document sets a target for grain production to stabilize at around 1.4 trillion jin, alongside a new initiative to enhance grain production capacity by 100 billion jin [1]. - The document promotes the integration of artificial intelligence in agriculture, expanding applications for drones, IoT, and robotics, and accelerating key technological innovations in agricultural bio-manufacturing [1]. - It also outlines plans for extending land contracts for an additional 30 years post-expiration, increasing financial support for agricultural enterprises and farmers, and facilitating the urbanization of agricultural migrants [1]. Group 3: Investment Opportunities - GF Securities interprets the release of the Central No. 1 Document as a significant step towards building a strong agricultural nation, suggesting that there are substantial opportunities for modernization in rural areas [1]. - The emphasis on food security and breeding innovation positions leading seed companies to benefit from advancements in breeding research and the industrialization of biological breeding [1].

Investment Rating - The industry investment rating is "Positive" (maintained) [1] Core Viewpoints - The pig price is weakening, and supply pressure remains after the festival, with the current industry breeding profit turning positive and the sentiment for replenishment continuing to recover [2][12] - The industry policy is undergoing a profound transformation, focusing on protecting farmers' rights and activating enterprise innovation, which may lead to a better performance of growth stocks in the future [3][12] - The high-quality development of the industry is imperative, with cost-leading and farmer-linked enterprises likely to enjoy excess profits and valuation premiums [3][13] Summary by Sections 1. Swine Industry - The swine breeding sector has seen a slight increase of 0.2%, gradually digesting concerns about slow capacity reduction [2][12] - The average weight of pigs for slaughter has decreased from high levels, with prices adjusting weakly to 12.31 CNY/kg [2][12] - The price of 7 kg piglets has risen to 367 CNY, indicating a weak expectation for capacity reduction [2][12] - The policy shift towards protecting farmers' rights and promoting innovation is expected to positively influence pig prices and profitability in 2026 [3][12] 2. Poultry Industry - The poultry sector is experiencing a contradiction of "high capacity, weak consumption," with the price of broiler chickens at 3.7 CNY/kg, down 3.4% week-on-week [4][13] - The impact of avian influenza in France may lead to a reduction in imported breeding chickens, potentially increasing prices for parent stock [4][13] - Integrated enterprises and contract farming are expected to expand market share in 2026 [4][14] 3. Feed Industry - The prices of various aquatic products have rebounded, with significant year-on-year increases for some species [5][15] - Hai Da Group is recommended due to its clear long-term growth path and plans to increase its dividend payout ratio [6][15][16] - The company aims for a global sales target of 100 million tons by 2050, with ongoing overseas market expansion [6][16] 4. Pet Industry - The pet industry is facing pressure with concerns over Q4 2025 performance, but there are signs of recovery in domestic sales [7][17] - Companies like Zhongchong and Peidi are recommended for their strong domestic sales growth potential [7][17] 5. Agricultural Products - Domestic soybean meal prices have increased slightly, supported by weather disturbances and procurement demand [8][18] - Corn prices have shown fluctuations, with a slight decrease due to reduced channel stocking [8][18] - The price of eggs has decreased, indicating a potential peak in trade inventory [8][18]

Group 1 - The feed sector experienced a slight increase of 0.34% on February 3, with Tianma Technology leading the gains [1] - The Shanghai Composite Index closed at 4067.74, up 1.29%, while the Shenzhen Component Index closed at 14127.1, up 2.19% [1] - Tianma Technology's stock price rose by 4.51% to 15.52, with a trading volume of 158,200 shares and a transaction value of 242 million yuan [1] Group 2 - The feed sector saw a net outflow of 99.92 million yuan from institutional investors, while retail investors contributed a net inflow of 53.17 million yuan [2] - The top individual stocks in terms of net inflow from retail investors included Haida Group with 24.68 million yuan and Jin Xin Nong with 14.53 million yuan [3] - Conversely, stocks like Petty Holdings and Haofeng Holdings experienced significant net outflows from institutional investors, with -4.36 million yuan and -3.34 million yuan respectively [3]

Group 1 - The core point of the article highlights the performance of the Agricultural and Animal Husbandry ETF managed by Jianxin Fund, which opened at 0.904 yuan and experienced a slight decline of 0.33% [1] - The ETF's major holdings include Cangge Mining, which rose by 3.34%, and Yilake Co., which increased by 2.82%, while other stocks like Muyuan Foods and New Hope saw minor declines [1] - Since its inception on July 21, 2022, the ETF has reported a return of -9.46%, with a recent one-month return of 3.27% [1] Group 2 - The ETF's performance benchmark is the CSI Agricultural and Animal Husbandry Theme Index return [1] - The fund manager is Jianxin Fund Management Co., Ltd., and the fund manager is Gong Jiajia [1]

Core Viewpoint - Guangdong Haid Group Co., Ltd. has announced the progress of its share repurchase plan, indicating a total repurchase of 13,194,845 shares, representing 0.79% of the total share capital, with a total expenditure of 719 million yuan as of January 31, 2026 [2][4]. Group 1: Repurchase Progress - As of January 31, 2026, the company has repurchased a total of 13,194,845 shares, which is approximately 0.79% of its total share capital [2]. - The highest transaction price during the repurchase was 59.50 yuan per share, while the lowest was 52.25 yuan per share, with a total payment of 71.86 million yuan (excluding transaction fees) [2]. Group 2: Compliance with Regulations - The company emphasized that the repurchase strictly adheres to relevant laws and regulations, as well as the established repurchase plan [3]. - During the repurchase period, the company did not execute repurchases during significant events that could impact the stock price or during other specified circumstances by the China Securities Regulatory Commission and Shenzhen Stock Exchange [3]. - The company followed regulatory requirements regarding the pricing and timing of share repurchases [3]. Group 3: Future Plans - The company plans to continue implementing the repurchase scheme based on market conditions within the designated timeframe [4]. - The company will fulfill its information disclosure obligations in accordance with relevant laws and regulations during the repurchase period [4].

（文章来源：证券日报） 证券日报网讯 2月2日，海大集团发布公告称，截至2026年1月31日，公司通过回购专用证券账户以集中 竞价交易的方式累计回购公司股份13，194，845股，约占公司总股本的0.79%。 ...

广东海大集团股份有限公司（以下简称"公司"）分别于2025年10月28日、 2025年11月14日召开了第七届董事会第四次会议、2025年第四次临时股东会，审 议通过了《关于以集中竞价方式回购公司股份方案的议案》，同意公司以集中竞 价交易方式回购公司部分已在境内发行的A股股票，用于依法注销减少注册资本 及实施股权激励计划及/或员工持股计划。具体内容详见公司在指定信息披露媒 体《证券时报》《中国证券报》《上海证券报》《证券日报》和巨潮资讯网披露 的《关于以集中竞价方式回购公司股份方案的公告》《关于以集中竞价方式回购 公司股份方案的报告书》，公告编号：2025-055、2025-061。 根据《上市公司股份回购规则》《深圳证券交易所上市公司自律监管指引第 9号——回购股份》等相关规定，公司应在回购期间每个月的前三个交易日内披 露截至上月末的回购进展情况，现将公司回购股份进展情况公告如下： 一、截至上月末回购股份的进展情况 截至 2026 年 1 月 31 日，公司通过回购专用证券账户，以集中竞价交易的方 式累计回购公司股份 13,194,845 股，约占公司总股本的 0.79%，回购成交的最高 价为 59.50 ...

每经头条（nbdtoutiao）——曾卖劳斯莱斯、保时捷等豪车，汽车销售巨头宝利德如今破产清算：杭州 总部已人去楼空，义乌子公司贴上了封条 每经AI快讯，海大集团2月2日晚间发布公告称，截至2026年1月31日，公司通过回购专用证券账户，以 集中竞价交易的方式累计回购公司股份约1319万股，约占公司总股本的0.79%，回购成交的最高价为 59.5元/股，最低价为52.25元/股，支付的总金额约为7.19亿元。 （记者 曾健辉） ...