Investment Rating - The industry investment rating is maintained as "Increase" [4] Core Viewpoints - After the double holiday, pig prices have rapidly declined to below 12 yuan/kg, with self-breeding and self-raising profitability dropping to -152.15 yuan/head, a decrease of 47.2 yuan/head from the previous week. The pressure from high supply is expected to continue to weigh on pig prices, leading to increased market pessimism and a potential for further price declines. However, there is an expectation for a mid-to-long-term price reversal driven by policy and proactive production cuts [1][15][19] - The average selling price of lean pigs nationwide is 11.39 yuan/kg, down 6.1% from last week. The current valuation remains relatively low, suggesting investment opportunities in low-cost pig farming companies such as Muyuan Foods, Wens Foodstuff Group, and others [2][16] - In poultry farming, the price of white feather chickens is 6.88 yuan/kg, down 0.1% from last week, while the average price of chicken products remains stable at 8.65 yuan/kg. The price of meat chicken chicks has increased by 0.6% to 3.22 yuan each. There are expectations for a price rebound in the chicken market [2][16][34] Summary by Sections Livestock - The average weight of pigs sold is 128.48 kg, showing a 0.5% increase from the low point in early August. Feed prices have also increased, indicating a gradual rise in pig inventory since July [1][15] - The profitability of self-breeding and self-raising pigs is -152.15 yuan/head, while the profitability of purchased piglets is -301.04 yuan/head, indicating significant losses in the sector [19][20] Poultry - The price of yellow feather chickens has seen a week-on-week increase of 1.9%, with the current price at 14.18 yuan/kg. This suggests seasonal price elasticity opportunities [2][16][40] - The profitability of parent breeding chickens is 0.47 yuan/head, while the profitability of meat chickens is -2.23 yuan/head, reflecting challenges in the poultry sector [38][44] Agricultural Products - The approval of genetically modified varieties is expected to lead to commercial sales, with potential growth for industry companies as prices and profit distribution become clearer [2][16] Feed and Vaccines - The volatility in agricultural product prices is increasing, and leading feed companies are expected to replace smaller competitors due to their advantages in procurement and scale [2][16]

Group 1 - The core point of the article is that Yisheng Co., Ltd. (益生股份) reported its sales figures for September 2025, showing mixed performance in various segments [1] Group 2 - The sales volume of broiler chicks reached 52.8372 million, with a sales revenue of 188 million yuan, reflecting a year-on-year change of 6.89% and -6.82%, respectively, and a month-on-month change of -8.77% and -12.01% [1] - The sales volume of Yisheng 909 small broiler chicks was 8.0069 million, generating a sales revenue of 6.8568 million yuan, with year-on-year changes of 42.34% and -18.48%, and month-on-month changes of 28.79% and -25.70% [1] - The sales volume of breeding pigs was 12,585 heads, with a sales revenue of 28.0791 million yuan, showing significant year-on-year changes of 475.45% and 356.68%, and month-on-month changes of 46.47% and 46.96% [1]

Core Insights - The company reported a total of 52.84 million white feather broiler chicks sold in September 2025, generating sales revenue of 188.27 million yuan, with year-on-year changes of 6.89% and -6.82% respectively, and quarter-on-quarter changes of -8.77% and -12.01% [1] - The sales of the 909 small white feather broiler chicks reached 8.01 million, with sales revenue of 6.86 million yuan, showing year-on-year changes of 42.34% and -18.48%, and quarter-on-quarter changes of 28.79% and -25.70% [1] - The company sold 12,585 breeding pigs in September 2025, with sales revenue of 28.08 million yuan, reflecting significant year-on-year changes of 475.45% and 356.68%, and quarter-on-quarter changes of 46.47% and 46.96% [1]

Core Viewpoint - Yisheng Co., Ltd. (002458) reported significant changes in sales figures for September 2025, indicating a mixed performance in its poultry and breeding sectors [1] Sales Performance - The company sold 52.8372 million broiler chicks in September 2025, generating sales revenue of 188 million yuan, with year-on-year changes of +6.89% in quantity and -6.82% in revenue, and month-on-month changes of -8.77% in quantity and -12.01% in revenue [1] - In contrast, the company sold 12,585 breeding pigs in September 2025, achieving sales revenue of 28.0791 million yuan, with year-on-year changes of +475.45% in quantity and +356.68% in revenue, and month-on-month changes of +46.47% in quantity and +46.96% in revenue [1] Capacity and Growth - The significant increase in breeding pig sales is attributed to the steady release of breeding pig capacity, leading to substantial year-on-year and month-on-month growth in both sales quantity and revenue [1]

Core Insights - The company reported a total sales volume of 52.8372 million white feather broiler chicks in September 2025, generating a revenue of 188 million yuan, with year-on-year changes of 6.89% and -6.82% respectively, and month-on-month changes of -8.77% and -12.01% [1] - The sales volume of the company's 909 small white feather broiler chicks reached 8.0069 million, with a revenue of 6.8568 million yuan, showing year-on-year changes of 42.34% and -18.48%, and month-on-month changes of 28.79% and -25.70% [1] - The company sold 12,585 breeding pigs in September 2025, resulting in a revenue of 28.0791 million yuan, with significant year-on-year changes of 475.45% and 356.68%, and month-on-month changes of 46.47% and 46.96% [1]

销售情况简报 证券代码：002458 证券简称：益生股份 公告编号：2025-087 山东益生种畜禽股份有限公司 2025 年 9 月鸡苗和种猪销售情况简报 本公司及董事会全体成员保证信息披露内容真实、准确和完整， 没有虚假记载、误导性陈述或重大遗漏。 一、2025年9月销售情况 1、鸡苗销售情况 山东益生种畜禽股份有限公司（以下简称"公司"）2025 年 9 月 白羽肉鸡苗销售数量 5,283.72 万只，销售收入 18,827.22 万元，同 比变动分别为 6.89%、-6.82%，环比变动分别为-8.77%、-12.01%。 公司2025年9月种猪销售数量12,585头，销售收入2,807.91万元， 同比变动分别为475.45%、356.68%，环比变动分别为46.47%、46.96%。 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。 二、原因说明 1、公司益生909小型白羽肉鸡有新批次父母代种鸡开产，商品代 鸡苗产量增加，故2025年9月公司益生909小型白羽肉鸡苗销售数量同 比和环比都增加。 2、公司种猪产能稳步释放，故 2025 年 9 月 ...

Core Insights - The aquaculture sector experienced a rise of 0.72% on October 10, with Lihua Co. leading the gains [1] - The Shanghai Composite Index closed at 3897.03, down 0.94%, while the Shenzhen Component Index closed at 13355.42, down 2.7% [1] Aquaculture Sector Performance - Lihua Co. (300761) closed at 22.95, up 3.52% with a trading volume of 161,900 shares and a transaction value of 368 million yuan [1] - Other notable performers included: - Luoniushan (000735) at 6.49, up 3.34% [1] - Xiaoming Co. (300967) at 22.43, up 2.28% [1] - Minhe Co. (002234) at 8.57, up 2.15% [1] - The overall trading volume and transaction values for various stocks in the aquaculture sector were significant, indicating active market participation [1] Capital Flow Analysis - The aquaculture sector saw a net inflow of 134 million yuan from institutional investors, while retail investors experienced a net outflow of 1.31 billion yuan [2] - The main stocks with significant capital flow included: - Muyuan Foods (002714) with a net inflow of 199 million yuan from institutional investors [3] - Wens Foodstuff Group (300498) with a net inflow of 15.53 million yuan from institutional investors [3] - Retail investors showed a negative trend in net inflows across several stocks, indicating a cautious sentiment among smaller investors [2][3]

格隆汇10月9日丨益生股份(002458.SZ)公布，截至2025年9月30日，公司通过股份回购专用证券账户以 集中竞价方式累计回购股份数量为14,664,200股，占公司总股本的比例为1.33%，最高成交价为10.94元/ 股，最低成交价为8.04元/股,累计成交总金额为131,500,778.50元（不含交易费用）。 ...

Market Overview - On October 9, the aquaculture sector rose by 0.21% compared to the previous trading day, with *ST Tianshan leading the gains [1] - The Shanghai Composite Index closed at 3933.97, up 1.32%, while the Shenzhen Component Index closed at 13725.56, up 1.47% [1] Stock Performance - The top-performing stocks in the aquaculture sector included: - *ST Tianshan: Closed at 8.70, up 4.32% with a trading volume of 64,800 shares and a turnover of 55.68 million yuan [1] - Jingji Dron: Closed at 16.82, up 3.44% with a trading volume of 166,300 shares and a turnover of 276 million yuan [1] - Lihua Co.: Closed at 22.17, up 2.12% with a trading volume of 133,000 shares and a turnover of 288 million yuan [1] Capital Flow - The aquaculture sector experienced a net outflow of 361 million yuan from institutional investors, while retail investors saw a net inflow of 92.07 million yuan [2] - Notable capital flows included: - Shengnong Development: Net inflow of 23.73 million yuan from institutional investors, but a net outflow of 41.17 million yuan from retail investors [3] - Zhengbang Technology: Net inflow of 16.55 million yuan from institutional investors, with a net outflow of 21.71 million yuan from retail investors [3] Summary of Key Stocks - Stocks with significant net inflows from institutional investors included: - *ST Tianshan: 5.84 million yuan, representing 10.50% of total inflow [3] - New Hope: 4.72 million yuan, representing 1.19% of total inflow [3] - Stocks with notable net outflows from retail investors included: - Shengnong Development: -41.17 million yuan, representing -12.38% of total outflow [3] - Zhengbang Technology: -21.71 million yuan, representing -5.89% of total outflow [3]

关于回购股份进展情况的公告 证券代码：002458 证券简称：益生股份 公告编号：2025-085 山东益生种畜禽股份有限公司 关于回购股份进展情况的公告 山东益生种畜禽股份有限公司（以下简称"公司"）于 2024 年 11 月 1 日召开第六届董事会第二十三次会议，审议通过了《关于以 集中竞价交易方式回购公司股份方案的议案》，同意公司使用银行专 项贷款资金及自有资金以集中竞价交易方式回购公司部分已发行的 人民币普通股（A 股），本次回购股份将用于实施员工持股计划，回 购股份的资金总额不低于人民币 10,000 万元（含），不超过人民币 20,000 万元（含），回购股份的价格不超过人民币 12.00 元/股（含）， 具体回购股份的数量以回购期限届满或回购完毕时实际回购的股份 数量为准，实施期限为董事会审议通过回购股份方案之日起 12 个月 内。具体内容详见 2024 年 11 月 5 日公司刊登于《中国证券报》《上 海证券报》《证券时报》《证券日报》和巨潮资讯网（www.cninfo.com.cn） 的《关于以集中竞价交易方式回购公司股份方案的公告》（公告编号： 2024-094）。 因公司实施 2024 ...