Core Insights - The company reported a total pig sales revenue of 7.365 billion yuan from January to July 2025, with a total sales volume of 4.4286 million pigs during the same period [1][2] Group 1: Sales Performance - In July 2025, the company's controlled and affiliated companies sold a total of 593,900 pigs, generating a revenue of 984 million yuan [1] - For the first seven months of 2025, the controlled company sold 2.4349 million pigs, representing a year-on-year growth of 21.73%, with total sales revenue of 3.835 billion yuan, up 19.96% year-on-year [1] - The affiliated company sold 1.9938 million pigs from January to July 2025, marking a year-on-year increase of 51.77%, with total sales revenue of 3.529 billion yuan, up 46.07% year-on-year [2] Group 2: Pricing and Weight - The average selling price of pigs from the controlled company in July 2025 was 14.50 yuan per kilogram, with an average weight of 124.46 kilograms [1] - The average selling price from the affiliated company in July 2025 was 14.39 yuan per kilogram, with an average weight of 124.34 kilograms [1]

2025年7月控股公司生猪销售数量为29.00万头，销售收入4.38亿元。其中销售数量环比增长-22.71%，同 比增长6.07%；销售收入环比增长-23.02%，同比增长19.63%；商品肥猪出栏均重124.46公斤，销售均价 14.50元/公斤。 2025年1-7月，参股公司累计销售生猪199.38万头，同比增长51.77%。累计销售收入35.29亿元，同比增 长46.07%。 2025年1-7月，控股公司累计销售生猪243.49万头，同比增长21.73%。累计销售收入38.35亿元，同比增 长19.96%。 格隆汇8月6日丨大北农(002385.SZ)公布，公司控股及参股公司生猪销售数量当月合计为59.39万头，1-7 月累计为442.86万头；销售收入当月合计为9.84亿元，1-7月累计为73.65亿元；公司控股及参股公司商 品肥猪当月均价为14.43元/公斤。公司控股及参股公司销售情况如下： 2025年7月参股公司生猪销售数量为30.40万头，销售收入5.46亿元。其中销售数量环比增长4.47%，同 比增长58.00%；销售收入环比增长7.27%，同比增长24.94%；商品肥猪出栏均重124.34公 ...

Core Insights - The company reported a total pig sales volume of 593,900 heads in July 2025, with a cumulative total of 4,428,600 heads sold from January to July 2025 [1] - The total sales revenue for July 2025 was 984 million yuan, with a cumulative revenue of 7,365 million yuan for the first seven months of 2025 [1] - The average price of market pigs sold by the company in July 2025 was 14.43 yuan per kilogram [1] Group 1: Sales Performance - In July 2025, the company's controlling subsidiary sold 290,000 heads of pigs, generating a revenue of 438 million yuan, with a month-on-month sales volume decrease of 22.71% and a year-on-year increase of 6.07% [1] - The controlling subsidiary's sales revenue decreased by 23.02% month-on-month but increased by 19.63% year-on-year [1] - From January to July 2025, the controlling subsidiary sold a total of 2,434,900 heads of pigs, representing a year-on-year growth of 21.73% [1] Group 2: Subsidiary Performance - In July 2025, the company's affiliated subsidiary sold 304,000 heads of pigs, with a revenue of 546 million yuan, showing a month-on-month sales volume increase of 4.47% and a year-on-year increase of 58.00% [1] - The affiliated subsidiary's sales revenue increased by 7.27% month-on-month and by 24.94% year-on-year [1] - From January to July 2025, the affiliated subsidiary sold a total of 1,993,800 heads of pigs, with a year-on-year growth of 51.77% [2]

Summary of Key Points Core Viewpoint - The company reported significant sales figures for its pig farming operations in July 2025, indicating strong performance in both its controlling and affiliated companies [1] Sales Performance - In July 2025, the total sales volume of pigs reached 593,900 heads, generating a revenue of 984 million yuan [1] - Cumulative sales from January to July 2025 amounted to 4,428,600 heads, with total revenue of 7.365 billion yuan [1] Breakdown of Sales - The controlling company sold 290,000 heads in July, contributing 438 million yuan to the revenue [1] - The affiliated companies sold 304,000 heads in July, resulting in a revenue of 546 million yuan [1] Year-on-Year Growth - From January to July 2025, the controlling company experienced a year-on-year sales increase of 21.73%, selling 2,434,900 heads [1] - The affiliated companies saw a substantial year-on-year sales growth of 51.77%, with total sales of 1,993,800 heads [1]

北京大北农科技集团股份有限公司 2025年7月份生猪销售情况简报 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、2025年7月份生猪销售情况 公司控股及参股公司生猪销售数量当月合计为 59.39 万头，1-7 月累计为 442.86 万 头；销售收入当月合计为 9.84 亿元，1-7 月累计为 73.65 亿元；公司控股及参股公司商 品肥猪当月均价为 14.43元/公斤。公司控股及参股公司销售情况如下： 1、2025 年 7 月控股公司生猪销售数量为 29.00 万头，销售收入 4.38 亿元。其中销 售数量环比增长-22.71%，同比增长 6.07%；销售收入环比增长-23.02%，同比增长- 19.63%；商品肥猪出栏均重 124.46公斤，销售均价 14.50元/公斤。 2025 年 1-7 月，控股公司累计销售生猪 243.49 万头，同比增长 21.73%。累计销售 收入 38.35亿元，同比增长 19.96%。 证券代码：002385 证券简称：大北农 公告编号：2025-063 注：因四舍五入，以上数据可能存在尾差。 2 二、变动原因 20 ...

Core Insights - The feed sector experienced a rise of 0.99% on August 4, with Zhongchong Co., Ltd. leading the gains [1] - The Shanghai Composite Index closed at 3583.31, up 0.66%, while the Shenzhen Component Index closed at 11041.56, up 0.46% [1] Summary by Category Stock Performance - Zhongchong Co., Ltd. (002891) closed at 58.43, with a gain of 6.33% and a trading volume of 116,900 shares, amounting to a transaction value of 677 million yuan [1] - Other notable performers include: - Guobao Pet (301498) at 92.49, up 2.09% [1] - Petty Co., Ltd. (300673) at 15.75, up 2.01% [1] - Lusi Co., Ltd. (832419) at 21.76, up 1.82% [1] Capital Flow - The feed sector saw a net inflow of 15.24 million yuan from institutional investors, while retail investors contributed a net inflow of 7.74 million yuan [2] - Notable capital flows for specific stocks include: - Zhongchong Co., Ltd. with a net inflow of 48.16 million yuan from institutional investors [3] - Guobao Pet with a net inflow of 19.14 million yuan from institutional investors [3] - Dabeinong (002385) with a net inflow of 2.24 million yuan from institutional investors [3]

Investment Rating - The industry rating is "Recommended" [3] Core Insights - The pork market is experiencing an oversupply, leading to a continued decline in pork prices. The average price of external three yuan pigs is 14.13 yuan/kg, with a week-on-week decrease of 1.09% [2][12] - The Ministry of Agriculture and Rural Affairs emphasizes the need for quality improvement and efficiency enhancement in the pig industry, suggesting that outdated production capacity will gradually be eliminated [2][13] - The report highlights the potential benefits of genetically modified crops in increasing yield and self-sufficiency rates for key varieties, with specific companies recommended for investment [12] Summary by Sections Planting Industry - A meeting was held to discuss increasing crop yields in Northeast China, which is crucial for national food security. The region has seen improvements in planting density and technology, contributing to stable yield increases [1] - Companies such as Beidahuang and Suqian Agricultural Development are expected to benefit from these developments, along with seed companies like Dabeinong and Longping High-Tech [1][12] Pig Farming - The average price of pigs has shown a downward trend, with the average weight of slaughtered pigs decreasing for eight consecutive weeks. The number of breeding sows has also decreased slightly [2][12] - The report suggests focusing on companies with significant cost improvements and high future output elasticity, including DeKang Agriculture and Mu Yuan Co., Ltd. [13] Key Agricultural Product Data Tracking - Corn: The average price is 2406.65 yuan/ton, with a week-on-week decrease of 0.09% [27] - Wheat: The average price is 2440.86 yuan/ton, with a week-on-week decrease of 0.08% [30] - Rice: The average price of japonica rice is 2912.00 yuan/ton, with a week-on-week increase of 0.14% [35] - Soybeans: The average price is 3926.32 yuan/ton, remaining stable week-on-week [40] - Cotton: The average price is 15410.00 yuan/ton, with a slight decrease of 0.02% [47] Feed and Vitamin Prices - The average price of pig feed is 2.73 yuan/kg, with a week-on-week increase of 0.37% [53] - The average price of vitamin E is 68.00 yuan/kg, remaining stable week-on-week [62]

Group 1 - The core viewpoint indicates that the cattle inventory has dropped to a ten-year low, leading to a three-year upward cycle in beef prices, while raw milk prices have fallen below cost, triggering capacity reduction. Leading companies like Modern Farming are expected to see a profit turning point by 2025 [1] - The livestock industry is entering a deep adjustment period, where high-quality companies with low costs and strong capital chains will stand out, indicating long-term high-quality development potential [1][2] - The investment opportunities in the pig industry are primarily driven by policy measures aimed at controlling new production capacity, which will accelerate the exit of inefficient and high-cost producers, thereby supporting prices [2] Group 2 - The pig industry has entered a stable development phase characterized by "capacity reduction + strong players," with market share redistribution occurring among existing players as low-efficiency and high-cost production gradually gets eliminated [2] - The criteria for high-quality companies are becoming clearer, focusing on low-cost breeding capabilities and sufficient capital reserves to withstand policy changes or price fluctuations [2] - The China Livestock Breeding Index (930707) includes major companies in the livestock sector, reflecting the overall performance of listed companies involved in livestock feed, pharmaceuticals, and breeding [2][3] Group 3 - As of July 31, 2025, the top ten weighted stocks in the China Livestock Breeding Index account for 64.83% of the index, including companies like Muyuan Foods, Wens Foodstuff, and Haida Group [3]

Group 1 - Wang Wentao met with the delegation from the US-China Business Council to discuss Sino-US economic relations and the development of US companies in China, emphasizing the need for mutual efforts to maintain a stable and sustainable economic relationship [1] - Contemporary Amperex Technology Co., Ltd. (CATL) reported a net profit of 30.5 billion yuan for the first half of 2025, a year-on-year increase of 33.02%, with revenue reaching 178.9 billion yuan, up 7.27% year-on-year [1] - The stock of Upwind New Materials will be suspended for trading due to multiple instances of abnormal trading fluctuations, with the company stating that its fundamentals have not changed significantly [1] Group 2 - The US core PCE price index for the second quarter increased by 2.5%, exceeding expectations of 2.3%, while actual personal consumption expenditures rose by 1.4% [2] - The Federal Reserve maintained the federal funds rate in the range of 4.25%-4.5%, marking the fifth consecutive decision to keep rates unchanged, with Chairman Powell indicating no decisions have been made regarding potential policy adjustments in September [2][3] Group 3 - The first intercity long-haul drone logistics route in the Greater Bay Area was launched, successfully demonstrating the feasibility of long-distance logistics operations [7] - The "Fengdeng Gene Scientist" AI system was released, marking a significant advancement in China's smart breeding technology, filling a technological gap in autonomous scientific discovery systems in the field of biological breeding [7] Group 4 - Longyang Power plans to invest approximately 26.6 billion yuan in the construction of the Gezhouba shipping capacity expansion project [9] - NIO and other Chinese concept stocks experienced declines, with NIO and New Oriental dropping over 4% [3]

证券日报网讯大北农7月30日在互动平台回答投资者提问时表示，公司目前暂无参与雅江水电站下游农 业种植计划。 （文章来源：证券日报） ...