Core Viewpoint - The Chinese livestock industry is experiencing a phase of high pig production capacity, prompting the Ministry of Agriculture and Rural Affairs to implement comprehensive production capacity regulation to mitigate risks of price volatility and overproduction [1][2]. Group 1: Market Performance - As of August 12, 2025, the CSI Livestock Breeding Index (930707) increased by 0.68%, with notable gains from companies such as Xiaoming Co. (300967) up 6.50%, Minhe Co. (002234) up 6.19%, and Yisheng Co. (002458) up 3.28% [1]. - The Livestock ETF (159867) rose by 0.46%, marking its third consecutive increase, with the latest price at 0.65 yuan [1]. Group 2: Policy and Regulation - The Ministry of Agriculture and Rural Affairs has announced plans to guide the reduction of approximately 1 million breeding sows to prevent production fluctuations and price instability [1]. - A meeting held on July 23 emphasized strict implementation of production capacity regulation measures, including the rational elimination of breeding sows and control of new production capacity [1]. Group 3: Industry Outlook - Recent policies are expected to accelerate the elimination of inefficient production capacity in the industry, potentially leading to a long-term increase in pig prices, benefiting low-cost and high-quality pig enterprises [1]. - The top ten weighted stocks in the CSI Livestock Breeding Index account for 64.83% of the index, indicating a concentrated market structure [2].

Group 1 - The poultry concept stocks experienced a rise, with Xiaoming Co., Ltd. increasing by over 11% [1] - Minhe Co., Ltd. saw an increase of nearly 6% [1] - Yisheng Co., Ltd. and Xiangjia Co., Ltd. both rose by nearly 3% [1]

Core Viewpoint - The poultry industry, particularly the white feather chicken sector, has experienced a rapid price increase in chick and broiler chicken markets, transitioning from a period of low prices and overcapacity to a situation of supply shortages and rising prices [1][4][6]. Price Trends - The price of commodity chick has surged from 1.5 yuan per chick in early July to 4.2 yuan per chick by August 11, marking a 180% increase [2][4]. - Broiler chicken prices in Shandong dropped to 3 yuan per pound in early July but have since risen to 3.55 yuan, with some slaughterhouses paying as much as 3.7 yuan per pound [2][4]. Supply and Demand Dynamics - The poultry industry has seen a significant shift in supply dynamics due to previous overproduction and recent weather changes, leading to increased demand for chicks as temperatures cool and schools prepare for the new term [4][5]. - The supply of commodity chicks decreased by 0.95% in July, with expectations of a further decline in August [5]. Profitability Across the Supply Chain - As of August 5, profitability across the poultry supply chain is positive, with theoretical profits of 0.50-0.80 yuan per chick at the breeding level, 1.73 yuan per commodity chicken, and 0.36 yuan per chicken at the slaughtering level [3]. Market Influences - The increase in prices is attributed to reduced imports of chicken meat due to avian influenza and trade tensions, alongside a decrease in domestic production capacity [4][6]. - The overall inventory of chicken products has decreased significantly, with slaughterhouse stocks dropping from high levels in mid-July to lower levels currently [3]. Future Outlook - Despite the current price increases, there are concerns about long-term sustainability due to potential overcapacity and weak terminal demand, which may pressure prices downward in the future [6].

Sales Performance Summary - In July 2025, the company sold 56.96 million white feather broiler chicks, generating sales revenue of 100.56 million yuan, representing a year-on-year change of -46.39% in revenue and a decrease of 6.18% in sales volume [2] - The sales of the company's 909 small white feather broiler chicks amounted to 5.12 million, with sales revenue of 5.06 million yuan, showing a year-on-year decline of 34.02% in revenue and a decrease of 26.69% in sales volume [2] - The company sold 8,171 breeding pigs in July 2025, with sales revenue of 19.48 million yuan, reflecting a significant year-on-year increase of 1,680.16% in revenue [2] Reasons for Sales Changes - The decrease in sales revenue for white feather broiler chicks in July 2025 is attributed to a lower selling price compared to the previous year [2] - The industry has seen early culling of parent stock due to low prices for white feather broiler chicks, but there has been a recent increase in the price of live chickens since late July 2025 [3] - Following the end of high-temperature weather, there has been an increase in the enthusiasm for restocking among farms, leading to a surge in demand for chick sales, which has resulted in a rapid increase in the selling price of white feather broiler chicks [3]

Group 1 - The company announced the sales quantity of broiler chicks for July 2025 to be 56.9624 million, with a sales revenue of 100.5635 million yuan [1] - Year-on-year changes in sales quantity and revenue are 7.51% and -46.39% respectively [1] - Quarter-on-quarter changes in sales quantity and revenue are -6.18% and -22.32% respectively [1]

Core Insights - The company reported a significant decrease in sales revenue for its white feather broiler chicks in July 2025, with a total sales volume of 56.9624 million chicks and revenue of 101 million yuan, reflecting year-on-year changes of -46.39% in revenue [1] - The sales of the company's small white feather broiler chicks (model 909) also saw a decline, with sales volume of 5.119 million chicks and revenue of 5.0579 million yuan, showing year-on-year changes of -34.02% in revenue [1] - In contrast, the company experienced a remarkable increase in sales of breeding pigs, with a total of 8,171 pigs sold and revenue of 19.478 million yuan, reflecting year-on-year changes of 1,680.16% in revenue [1] Sales Performance - For July 2025, the sales volume of white feather broiler chicks was 56.9624 million, with a revenue of 101 million yuan, indicating a year-on-year sales volume increase of 7.51% but a revenue decrease of 46.39% [1] - The small white feather broiler chicks (model 909) had a sales volume of 5.119 million and revenue of 5.0579 million yuan, with year-on-year changes of -17.82% in sales volume and -34.02% in revenue [1] - The breeding pig sales reached 8,171 heads, generating revenue of 19.478 million yuan, with year-on-year changes of 1,382.94% in sales volume and 1,680.16% in revenue [1] Month-on-Month Changes - The month-on-month changes for white feather broiler chicks showed a decrease in both sales volume and revenue, with a decline of 6.18% in sales volume and 22.32% in revenue [1] - The small white feather broiler chicks experienced a month-on-month sales volume decrease of 26.69% but a slight revenue increase of 1.00% [1] - For breeding pigs, the month-on-month changes indicated a decrease of 19.30% in sales volume and 21.89% in revenue [1]

Summary of Key Points Core Viewpoint - Yisheng Co., Ltd. (益生股份) reported its sales performance for July 2025, indicating a mixed performance in the sales of broiler chicks and breeding pigs, with significant year-on-year and month-on-month fluctuations in revenue and sales volume [1]. Sales Performance of Broiler Chicks - In July 2025, the company sold 56.9624 million white feather broiler chicks, generating sales revenue of 101 million yuan, with year-on-year changes of 7.51% in sales volume and a decline of 46.39% in revenue, while month-on-month changes showed a decrease of 6.18% in sales volume and 22.32% in revenue [1]. - The sales of Yisheng 909 small white feather broiler chicks amounted to 5.1190 million, with sales revenue of 5.0579 million yuan, reflecting year-on-year declines of 17.82% in sales volume and 34.02% in revenue, and month-on-month changes of -26.69% in sales volume and a slight increase of 1.00% in revenue [1]. Sales Performance of Breeding Pigs - The company sold 8,171 breeding pigs in July 2025, achieving sales revenue of 19.478 million yuan, with remarkable year-on-year increases of 1,382.94% in sales volume and 1,680.16% in revenue, while month-on-month changes indicated a decrease of 19.30% in sales volume and 21.89% in revenue [1].

Core Insights - Yisheng's sales volume of broiler chicks reached 56.96 million with revenue of 101 million yuan in July 2025, showing a year-on-year change of 7.51% in volume but a significant decline of 46.39% in revenue [1] - The sales volume of Yisheng 909 small broiler chicks was 5.12 million with revenue of 5.06 million yuan, reflecting a year-on-year decrease of 17.82% in volume and 34.02% in revenue [1] - The company sold 8,171 breeding pigs in July 2025, generating revenue of 19.48 million yuan, with a remarkable year-on-year increase of 1,382.94% in volume and 1,680.16% in revenue [1] Sales Performance - The sales volume of broiler chicks decreased by 6.18% month-on-month, while revenue fell by 22.32% [1] - The sales volume of Yisheng 909 small broiler chicks experienced a month-on-month decline of 26.69%, but revenue increased by 1.00% [1] - Breeding pig sales saw a month-on-month decline of 19.30% in volume and 21.89% in revenue [1]

销售情况简报 证券代码：002458 证券简称：益生股份 公告编号：2025-070 山东益生种畜禽股份有限公司 2025 年 7 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。 1、鸡苗销售情况 一、2025年7月销售情况 山东益生种畜禽股份有限公司（以下简称"公司"）2025 年 7 月 白羽肉鸡苗销售数量 5,696.24 万只，销售收入 10,056.35 万元，同 比变动分别为 7.51%、-46.39%，环比变动分别为-6.18%、-22.32%。 益生909小型白羽肉鸡苗销售数量511.90万只，销售收入505.79 万元，同比变动分别为-17.82%、-34.02%,环比变动分别为-26.69%、 1.00%。 2、种猪销售情况 公司2025年7月种猪销售数量8,171头，销售收入1,947.80万元， 同比变动分别为1,382.94%、1,680.16%，环比变动分别为-19.30%、- 21.89%。 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 ...

Summary of Key Points Core Viewpoint - The sales performance of Yisheng Co., Ltd. in July 2025 shows a significant decline in revenue from broiler chicks, while there is a remarkable increase in the sales of breeding pigs, indicating mixed results in different segments of the business [1]. Group 1: Broiler Chick Sales - In July 2025, the sales volume of white feather broiler chicks reached 56.9624 million, generating revenue of 101 million yuan, with year-on-year changes of 7.51% and -46.39% respectively, and month-on-month changes of -6.18% and -22.32% [1]. - The sales volume of Yisheng 909 small white feather broiler chicks was 5.119 million, with revenue of 5.0579 million yuan, reflecting year-on-year changes of -17.82% and -34.02%, and month-on-month changes of -26.69% and 1.00% [1]. Group 2: Breeding Pig Sales - The company sold 8,171 breeding pigs in July 2025, with a revenue of 19.478 million yuan, showing year-on-year changes of 1,382.94% and 1,680.16%, while month-on-month changes were -19.30% and -21.89% [1].