Group 1: Company Overview - Shandong Yisheng Livestock and Poultry Breeding Co., Ltd. was established on April 22, 1997, and listed on August 10, 2010. The company is located at No. 1 Yisheng Road, Fushan District, Yantai City, Shandong Province [2] - The main business activities include breeding and sales of various generations of meat chickens, breeding and sales of pigs, production and sales of agricultural and livestock equipment, feed production, dairy farming, and organic fertilizer production [2] - The revenue composition is as follows: chicken income accounts for 76.18%, pig income 15.47%, livestock equipment income 5.48%, dairy income 1.72%, and other income 1.14% [2] Group 2: Financial Performance - For the first half of 2025, the company achieved an operating income of 1.321 billion yuan, a year-on-year decrease of 3.98%. The net profit attributable to the parent company was 6.1551 million yuan, down 96.64% year-on-year [2] - As of June 30, 2025, the number of shareholders was 48,000, an increase of 3.00% compared to the previous period, while the average circulating shares per person decreased by 2.91% to 15,601 shares [2] Group 3: Market Activity - On August 29, 2023, the company's stock price fell by 0.34%, with a trading volume of 74.639 million yuan. The financing buy-in amount was 11.0174 million yuan, while the financing repayment was 15.3102 million yuan, resulting in a net financing buy-in of -4.2929 million yuan [1] - The total financing and securities lending balance as of August 29, 2023, was 574 million yuan, with the financing balance accounting for 6.10% of the circulating market value, indicating a high level compared to the past year [1] - The company had a securities lending repayment of 38,400 shares and a securities lending sell amount of 200 shares on August 29, 2023, with a remaining securities lending balance of 158,100 shares, which is below the 40th percentile level over the past year [1] Group 4: Dividend and Shareholding - Since its A-share listing, the company has distributed a total of 1.529 billion yuan in dividends, with 439 million yuan distributed in the last three years [3] - As of June 30, 2025, the eighth largest circulating shareholder was the Guotai CSI Livestock Breeding ETF, holding 9.4508 million shares, an increase of 1.664 million shares compared to the previous period [3]

Group 1 - A-share companies have announced over 800 mid-term cash dividend plans, setting a historical record, with total cash dividends exceeding 639 billion yuan and a cash dividend ratio of 21.36% of total net profits [1] - The banking sector leads in dividend scale, with an expected mid-term cash dividend of 237.54 billion yuan in 2025, followed by industries such as oil and petrochemicals, telecommunications, non-bank financials, coal, and transportation [1] Group 2 - Major companies like China Mobile and Industrial and Commercial Bank of China have cash dividends exceeding 50 billion yuan, while over 20 companies, including Chang'an Automobile and Hengli Petrochemical, are initiating mid-term dividends for the first time [3] - In terms of cash dividend ratios, companies like Shuoshi Biology and Yisheng Shares have exceptionally high ratios, with Shuoshi Biology proposing a cash dividend of 34 yuan per 10 shares, resulting in a cash dividend ratio of 7142.28% [3] - Institutional investors show a clear preference for high dividend yields, with Dongfang Yuhong leading at a yield of 7.87%, and several other companies also exceeding 5% [3][4] Group 3 - Among stocks with dividend yields over 2%, six companies, including Bingchuan Network and Jinneng Technology, reported net profit growth exceeding 50% in the first half of the year [4] - Bingchuan Network achieved a net profit of 336 million yuan, marking a turnaround, with a mid-term dividend yield of 2.3% [4]

Investment Rating - The industry investment rating is "Recommended" with an expectation that the industry index will exceed the benchmark index by more than 5% in the next 3-6 months [53]. Core Insights - The report indicates that the prices of broilers and chicks have reached a bottom and are beginning to rebound, although the losses in the breeding sector have widened [1][2]. - In July, the loss from broiler farming was 2.59 yuan per bird, and the loss from hatcheries was 0.23 yuan per bird, both showing an increase in loss compared to previous months [2][43]. - The report highlights a recovery in chick prices after hitting a low of 0.73 yuan per chick, with a subsequent increase of 0.10 yuan per chick over 15 days due to supply shortages and rising broiler prices [8][11]. Industry Overview - The total market capitalization of the industry is approximately 1,331.25 billion yuan, with 101 listed companies [3]. - The absolute performance of the industry over the past month is 3.5%, with a relative performance of 3.9% [4]. Price Trends - The average price of white feather broilers in July was 3.21 yuan per kg, reflecting a year-on-year decrease of 12.30% and a month-on-month decrease of 8.55% [11]. - The average price of chicken products was 8535.88 yuan per ton, down 8.94% year-on-year and 3.04% month-on-month [11]. Sales Performance - In July, the sales volume of broiler meat for Shengnong Development was 15.87 million tons, up 22.83% year-on-year, while the sales volume for Xiantan Co. was 5.96 million tons, up 31.28% year-on-year [19][28]. - The sales revenue for Yisheng Co. in July was 1.01 billion yuan, down 46.39% year-on-year, while Shengnong Development's chicken meat sales revenue was 14.90 billion yuan, up 14.44% year-on-year [14][15]. Production Capacity - The average stock of grandparent stock chickens in July 2025 was 1.4 million sets, an increase of 7.3% year-on-year, while the stock of backup grandparent stock chickens decreased by 8.5% year-on-year [32][33]. - The average price of parent stock chicks in July was 47.66 yuan per set, with a slight decrease to 47.21 yuan per set in the latest week [35][37].

关于控股股东部分股份解除质押的公告 证券代码：002458 证券简称：益生股份 公告编号：2025-077 山东益生种畜禽股份有限公司 关于控股股东部分股份解除质押的公告 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。 山东益生种畜禽股份有限公司（以下简称"公司"）近日接到控股 股东、实际控制人曹积生先生通知，获悉其所持有公司的部分股份办 理了股份解除质押业务，具体事项如下: 一、控股股东股份解除质押情况 | 股东名称 | | 是否为控股股东 或第一大股东及 | 本次解除 质押数量 | 占其所持 | 占公司总 | 质押起始日 | 质押解除日 | 质权人 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | 其一致行动人 | （股） | 股份比例 | 股本比例 | | | | | 曹积生 | | 是 | 11,260,000 | 2.49% | 1.02% | 2023 年 9 月 28 日 | 2025 年 8 月 28 日 | 中信银行股份有限 公司青岛分公司 | | 合 | 计 | — ...

Core Viewpoint - Yisheng Co., Ltd. continues to lead the domestic white feather broiler breeding sector by importing a significant number of breeding stock from France, enhancing its market position and supply capabilities [1] Group 1: Company Developments - On August 28, Yisheng Co., Ltd. imported 14,000 sets of breeding stock of the Lihong Zuda white feather broiler chicken from France, marking the second batch of imports for the month and the tenth batch for the year [1] - The imported breeding stock has successfully cleared customs at Beijing Capital International Airport and completed the necessary quarantine procedures [1] Group 2: Market Position - With the latest import, Yisheng Co., Ltd. has achieved a cumulative import volume of 162,000 sets for the year, representing 59% of the total national import volume [1] - The company maintains a dominant position in the domestic white feather broiler breeding supply market, reinforcing its leadership status [1]

Company Overview - Shandong Yisheng Livestock and Poultry Breeding Co., Ltd. is located in Yantai, Shandong Province, established on April 22, 1997, and listed on August 10, 2010 [2] - The company's main business includes breeding and sales of various generations of meat chickens, pig breeding, agricultural equipment production, feed production, dairy farming, and organic fertilizer production [2] - Revenue composition: chicken income accounts for 76.18%, pig income 15.47%, livestock equipment income 5.48%, dairy income 1.72%, and other income 1.14% [2] Financial Performance - For the first half of 2025, the company achieved operating revenue of 1.32 billion yuan, a year-on-year decrease of 3.98% [2] - The net profit attributable to the parent company was 6.16 million yuan, a significant year-on-year decrease of 96.64% [2] - Cumulative cash dividends since the company's A-share listing amount to 1.53 billion yuan, with 439 million yuan distributed in the last three years [3] Shareholder and Market Activity - As of June 30, 2025, the number of shareholders increased to 48,000, up by 3.00% from the previous period [2] - The average circulating shares per person decreased by 2.91% to 15,601 shares [2] - The top ten circulating shareholders include Guotai Zhongzheng Livestock Breeding ETF, which holds 9.45 million shares, an increase of 1.66 million shares from the previous period [3] Financing and Trading Activity - On August 27, the company's stock price fell by 2.81%, with a trading volume of 150 million yuan [1] - The financing buy-in amount for the day was 26.96 million yuan, with a net buy of 5.11 million yuan [1] - The total financing and securities lending balance reached 575 million yuan, with financing balance accounting for 5.99% of the circulating market value, indicating a high level of financing activity [1]

证券之星消息，益生股份(002458)8月27日公开信息显示，股东曹积生向财通证券股份有限公司合计质 押1240.0万股，占总股本1.12%。质押详情见下表： 益生股份(002458)主营业务：祖代白羽肉种鸡的引进与饲养、父母代白羽肉种鸡的饲养、父母代白羽肉 种鸡雏鸡的生产与销售、商品代白羽肉鸡雏鸡的生产与销售、益生909小型白羽肉鸡的研发、饲养与雏 鸡销售、种猪的饲养和销售、奶牛的饲养与乳品销售、农牧设备的生产与销售等。 截止本公告日，股东曹积生已累计质押股份2.14亿股，占其持股总数的47.37%。本次质押后益生股份十 大股东的累计质押股份占持股比例(占持股比例的计算以公司最新一期财务报表公布的十大股东的持股 总数为基准)见下图： 益生股份财务数据及主营业务： 益生股份2025年中报显示，公司主营收入13.21亿元，同比下降3.98%；归母净利润615.51万元，同比下 降96.64%；扣非净利润336.74万元，同比下降98.16%；其中2025年第二季度，公司单季度主营收入6.98 亿元，同比上升1.42%；单季度归母净利润1932.31万元，同比下降73.75%；单季度扣非净利润1775.68 万元 ...

Summary of Yisheng Co., Ltd. Conference Call Company Overview - Yisheng Co., Ltd. is a leading breeding company in Asia, specializing in high-quality poultry and swine genetics, with a significant market share in the domestic imported breeding stock market, accounting for approximately one-third of the market [3][6]. Financial Performance - In the first half of 2025, Yisheng reported a total profit of approximately 6 million yuan, with profits from parent stock chickens and breeding pigs at 40 million yuan each, while losses from commercial chicken chicks amounted to 50 million yuan [2][3]. - The company sold 4 million sets of parent stock chickens, generating a profit of 10 yuan per set, and sold 320 million commercial chicken chicks at a cost of less than 2.5 yuan each, resulting in a total loss of 50 million yuan [3]. Market Dynamics - The price of commercial chicken chicks began to rise rapidly in mid-July due to seasonal factors such as farming activities and school holidays, with current prices at 14.2 yuan per chick against a cost of 2.6-2.7 yuan [2][5]. - The ongoing U.S.-China trade war and avian influenza have contributed to increased prices for chicken wings and feet [2][5]. Import and Breeding Strategy - Following the suspension of imports from the U.S. and New Zealand, Yisheng has actively sourced breeding stock from France, importing 132,000 sets from March to July 2025, which represents nearly 60% of the national import volume [2][6]. - The company plans to import an additional 30,000 sets in August 2025, with a total expected import volume of around 300,000 sets in a normal year [11]. Pricing and Sales Outlook - Current prices for parent stock are over 50 yuan per set, while commercial chicken chicks are priced at 4.2 yuan each, with expectations for continued price adjustments [7][18]. - The company anticipates a positive outlook for profits in the second half of 2025, expecting commercial chick sales to reach 660 million and pig sales to exceed 100,000 heads [4][31]. Product Development - The company has received new breed recognition for its 817 series, which is more suitable for small-scale farming, complementing the existing 909 series [8]. - Yisheng has expanded its swine business significantly, with sales expected to exceed 100,000 heads in 2025 and a target of 200,000 heads by 2026 [9][10]. Industry Trends - The overall demand for white chicken is expected to increase, driven by rising domestic consumption and reduced imports from Thailand and other countries [19][20]. - The poultry industry is projected to see an increase in slaughter volume compared to the previous year, with expectations of a continued upward trend in prices [20][31]. Challenges and Risks - The company faces challenges from rising import costs and potential impacts from avian influenza on breeding stock availability [21][22]. - The profitability of Yisheng's investments in joint ventures and agricultural equipment companies has been affected, with reported losses of 20 million yuan [2][3]. Future Plans - Yisheng is constructing a new parent stock facility in Shanxi with a capacity of 1 million sets, which is expected to enhance production capabilities significantly [15][16]. - The company is exploring futures contracts to stabilize feed costs amid fluctuating prices for corn and soybean meal [15]. This summary encapsulates the key points from the conference call, highlighting Yisheng Co., Ltd.'s financial performance, market dynamics, strategic initiatives, and future outlook.

Company Overview - Established in 1989, Yisheng Co. specializes in breeding high-quality livestock and poultry, being the largest ancestor meat chicken breeding enterprise in Asia, accounting for approximately 33% of the domestic imported chicken market [1][2] - The company has implemented a source purification strategy to ensure the health of breeding stock and product quality, gaining high market recognition [2] Production and Sales - The company plans to sell 100,000 breeding pigs in 2025, with 38,500 sold in the first half of the year [2] - As of August 2025, the company has approximately 400,000 ancestor meat chickens and over 6 million parent stock chickens in inventory [4] Import and Market Trends - From January to July 2025, the company imported 132,000 sets of ancestor meat chickens, representing nearly 60% of the national total import of 230,000 sets, with a year-on-year decline of over 30% in imports and updates [3] - The company plans to import 30,000 sets of ancestor meat chickens in August 2025 [4] Pricing and Market Conditions - The price for parent stock chicken seedlings is set at 52 yuan per set for August and September 2025, with monthly adjustments based on market demand [7] - The price of commodity chicken seedlings is expected to improve in the second half of the year, following a trend of rising prices since mid-July [8] Future Developments - The company is constructing a project in Datong, Shanxi, which includes nine parent stock chicken farms and a feed factory, with production capacity being gradually released [6] - The company is in the process of applying for approval for a new breed of egg-laying chickens, having completed preliminary testing [10]

截至发稿，益生股份市值为102亿元。 每经头条（nbdtoutiao）——能给主人"打电话"的宠物智能手机也来了！宠物产业3000亿元市场大爆 发，行业上市公司"涨"声一片 每经AI快讯，益生股份（SZ 002458，收盘价：9.26元）8月26日晚间发布公告称，公司近日接到控股股 东、实际控制人曹积生先生通知，获悉其所持有公司的部分股份办理了股份质押业务，本次质押1240万 股。截至本公告日，曹积生累计质押股数约为2.14亿股，占其所持股份比例为47.37%。 2025年1至6月份，益生股份的营业收入构成为：鸡收入占比76.18%，猪收入占比15.47%，农牧设备收 入占比5.48%，牛奶收入占比1.72%，其他行业占比1.14%。 （记者 王晓波） ...