Group 1 - The company held its third meeting of the seventh board of directors on February 23, 2026, with all seven directors present, including independent directors attending via communication [2][3] - The meeting approved a resolution regarding external guarantees and related transactions with a vote of 6 in favor, 0 against, and 0 abstentions [4][5] - The independent directors reviewed and approved the guarantee proposal in a separate meeting, and the proposal will be submitted to the shareholders' meeting for approval [7][8] Group 2 - The company plans to provide a guarantee of up to 35.17 million RMB for its subsidiary, Heilongjiang Beisanxia Breeding Co., Ltd., which is seeking a credit line of 100 million RMB from China Merchants Bank [16][17] - The guarantee is necessary for the subsidiary's operational financing and is considered to have controllable risks based on the company's assessment of the subsidiary's financial health and industry outlook [25] - The total amount of guarantees provided by the company and its subsidiaries will reach 300.04 million RMB, with the actual balance of guarantees being 132.83 million RMB, representing 2.97% of the company's audited net assets for 2024 [26] Group 3 - The company announced the second extraordinary shareholders' meeting for 2026, scheduled for March 12, 2026, with provisions for both on-site and online voting [28][29] - The meeting will discuss the proposals previously approved by the board, requiring more than half of the voting rights to pass, with related party shareholders required to abstain from voting [35] - Registration for the meeting will take place on March 10, 2026, and specific procedures for both individual and corporate shareholders have been outlined [36][41]

关于对外提供担保暨关联交易的公告 证券代码：002458 证券简称：益生股份 公告编号：2026-017 山东益生种畜禽股份有限公司 关于对外提供担保暨关联交易的公告 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。 一、担保情况概述 1.担保基本情况 因经营发展需要，山东益生种畜禽股份有限公司（以下简称"公 司"）的参股公司北大荒宝泉岭农牧发展有限公司（以下简称"宝泉 岭农牧"）之全资子公司黑龙江北三峡养殖有限公司（以下简称"北 三峡养殖"）向招商银行股份有限公司哈尔滨分行（以下简称"招商 银行哈尔滨分行"）申请人民币10,000.00万元的综合授信额度并获得 批复，期限三年。根据授信批复要求，该笔融资需由股东提供担保。 公司持有宝泉岭农牧25.55%股权，根据公司的出资比例并结合宝 泉岭农牧和北三峡养殖的实际情况，公司拟为北三峡养殖本次融资提 供不超过3,516.86万元的连带责任保证担保，该担保在上述额度范围 内循环滚动使用，任一期间内的实际担保余额合计不超过3,516.86万 元。具体担保有效期以担保协议约定为准。 2.董事会审议情况 公司于2026年2月 ...

股东会通知 证券代码：002458 证券简称：益生股份 公告编号：2026-018 5.会议的召开方式：现场表决与网络投票相结合。 6.会议的股权登记日：2026 年 3 月 9 日 山东益生种畜禽股份有限公司 关于召开 2026 年第二次临时股东会的通知 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、召开会议的基本情况 1.股东会届次：2026 年第二次临时股东会 2.股东会的召集人：董事会 3.本次会议的召集、召开符合《中华人民共和国公司法》《深圳 证券交易所股票上市规则》《深圳证券交易所上市公司自律监管指引 第 1 号——主板上市公司规范运作》等法律、行政法规、部门规章、 规范性文件及《公司章程》的有关规定。 4.会议时间： （1）现场会议时间：2026 年 3 月 12 日 14:30 （2）网络投票时间：通过深圳证券交易所系统进行网络投票的 具体时间为 2026 年 3 月 12 日 9:15-9:25，9:30-11:30，13:00- 15:00；通过深圳证券交易所互联网投票系统投票的具体时间为 2026 年 3 月 12 日 9:15 至 ...

董事会决议公告 证券代码：002458 证券简称：益生股份 公告编号：2026-016 决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整， 没有虚假记载、误导性陈述或者重大遗漏。 一、董事会会议召开情况 2026 年 2 月 23 日，山东益生种畜禽股份有限公司（以下简称"公 司"）第七届董事会第三次会议在公司会议室以现场与通讯相结合方 式召开。会议通知已于 2026 年 2 月 21 日通过通讯方式及书面方式送 达董事、高级管理人员。会议应出席董事七人，实际出席董事七人， 其中，独立董事王楚端先生、曹相见先生通过通讯方式出席会议并行 使表决权。会议由董事长曹积生先生召集并主持，公司高级管理人员 列席会议。 本次会议的召集、召开程序符合《中华人民共和国公司法》和《公 司章程》的有关规定。 二、董事会会议审议情况 本次会议经记名投票表决方式，通过决议如下： 1.审议通过《关于对外提供担保暨关联交易的议案》。 表决情况：6 票同意，0 票反对，0 票弃权。 山东益生种畜禽股份有限公司 第七届董事会第三次会议 董事会决议公告 本议案需提请股东会审议。 2.审议通过《关于召开 2026 年第二次临时 ...

Group 1 - The core growth driver of the "pet economy" is the consumption of seasonal holiday products, with the search term "New Year pet gift box" on Tmall showing a year-on-year growth of over 20% [1][2] - Sales of pet clothing for the New Year increased by 330%, while sales of pet New Year dinners grew by 290% according to Tmall data [1][2] - The pet product category has formed a comprehensive matrix covering "food + clothing + decoration + services," extending from cats and dogs to exotic pets [2] Group 2 - There has been a 46% month-on-month increase in demand for pet boarding services as reported by 58 Daojia [2] - The pilot program for pet transportation on high-speed trains has expanded to cover 110 stations and 170 trains, while the "pet in cabin" service for airlines now includes 31 airports and 110 flight routes [2] - Major pet exhibitions in South China and North China are scheduled for March, with leading domestic brands expected to launch new products at these events [2] Group 3 - After the Spring Festival, it is anticipated that pig prices will enter a seasonal decline due to decreased demand and increased supply [3] - The price is expected to drop into a low phase, leading to potential losses in the breeding sector as slaughterhouses resume operations after the holiday [3] Group 4 - Recommended stocks in the pig breeding sector include Muyuan Foods (002714.SZ) and Wens Foodstuff Group (300498.SZ) [4] - Other recommended stocks in the agricultural product supply chain include Morning Light Bio (300138.SZ) and Noposion (002215.SZ) [4] - In the pet sector, recommended stocks include Guibao Pet (301498.SZ) and Zhongchong Co., Ltd. (002891.SZ) [4]

Investment Rating - The report maintains an "Overweight" rating for the pet economy sector, highlighting its rapid growth during the Spring Festival [4][7]. Core Insights - The pet consumption during the Spring Festival has seen significant growth, with a 20%+ year-on-year increase in searches for "New Year pet gift boxes" on Tmall. The sales of pet clothing surged by 330%, and pet New Year's dinners increased by 290% [7]. - The report emphasizes the comprehensive nature of pet services, with a 46% month-on-month increase in pet boarding demand. The expansion of pet transport services on high-speed trains and airlines is also noted [7]. - Upcoming pet exhibitions in March are expected to further stimulate market interest, with major brands likely to launch new products [7]. Summary by Sections Important Industry Data Overview - The agricultural sector index stands at 2,858.1, with a year-on-year increase of 14.28%. The wholesale price index for agricultural products is at 129.6, reflecting a 4.95% year-on-year increase [10]. - The average price of live pigs is 12.3 yuan/kg, down 15.81% year-on-year, while the average price of piglets is 471.0 yuan/head, down 25.24% year-on-year [10]. Pig Farming Sector - The report anticipates a seasonal decline in pig prices post-Spring Festival, with expectations of low prices leading to potential losses in farming [5][12]. - Recommended stocks in the pig farming sector include Muyuan Foods and Wens Foodstuffs, with additional recommendations in the agricultural product supply chain [5]. Poultry Sector - The report discusses the white feather broiler market, noting a decrease in chick prices and stable prices for broiler meat [19][20]. - The average price of broiler chicks is reported at 2.4 yuan/chick, with a 4.35% increase month-on-month [10]. Feed Sector - The report indicates stable feed prices, with corn prices at 2,372.2 yuan/ton and soybean meal prices at 3,167.7 yuan/ton [10][30]. - The analysis highlights the fluctuations in import prices for soybeans and corn, impacting the feed sector [32]. Key Company Profit Forecasts and Valuations - The report provides earnings per share (EPS) forecasts for key companies, with Muyuan Foods projected at 2.54 yuan for 2025 and 4.81 yuan for 2026, maintaining an "Overweight" rating [36]. - Other companies such as Wens Foodstuffs and Petty Holdings also receive "Overweight" ratings, indicating strong growth potential [36].

Performance Overview - In the 2025 performance forecast, the company expects a net profit attributable to shareholders of between 150 million to 190 million yuan, representing a year-on-year decline of 62.29% to 70.23%. However, the fourth quarter shows significant improvement with a net profit of 118 million to 158 million yuan. The company attributes the performance fluctuation mainly to the industry cycle in the first half of the year, while 2026 is anticipated to bring multiple growth opportunities driven by the gap in grandparent breeding stock, expansion of production capacity, and growth in the breeding pig business [1] Industry Conditions - Due to the impact of avian influenza overseas, the introduction volume of grandparent white feather broiler breeding stock in 2025 decreased by over 10% year-on-year, totaling only 620,000 sets, leading to a tight supply. The price of parent stock chick has been rising since September 2025, with the transaction price exceeding 53 yuan/set in January 2026, and further price increases are expected, benefiting the company's core business [2] Strategic Initiatives - The company plans to expand its production capacity over the next four years, increasing the parent stock inventory from 7 million sets to 10 million sets and the production capacity of commercial chicks from 600 million to 1 billion birds. This will be achieved through both self-construction and acquisitions to solidify its leading position in the industry [3] Business Development - The company has made progress in new business areas, with the research and development of new egg-laying chicken strains passing the pilot test, expected to receive certification in the first half of 2026, thereby enriching its product matrix. Additionally, the overseas strategy is advancing steadily, with agricultural and animal husbandry equipment already exported to Southeast Asia, and negotiations for the export of hatching eggs are underway to expand into international markets [4] Subsidiary Growth - As a core breeding farm for national pig breeding, the company's pig sales reached 98,400 heads in 2025, marking a year-on-year increase of 228.43%. The target for 2026 is to achieve sales of 150,000 heads, gradually contributing to sustainable revenue [5]

Group 1 - The core viewpoint of the article is that Yisheng Co. has experienced a decline in the price of commodity broiler chicks due to the annual incubation period, but prices have started to rise again as seasonal factors have been eliminated [2] - As of February 13, the price of commodity white feather broiler chicks is quoted at 3.2 yuan per chick [2] - The supply of commodity broiler chicks is determined by the update quantity of parent breeding chickens from seven months prior [2]

Core Viewpoint - The company, Yisheng Co., Ltd. (002458), is currently unable to import grandparent white feather broiler chickens from abroad due to the impact of avian influenza, which will affect its breeding plans for 2026 [1] Group 1 - The company has no plans to import grandparent white feather broiler chickens in February and March 2026 [1] - In 2025, the company plans to introduce 266,000 sets of grandparent white feather broiler chickens, which represents a year-on-year increase [1] - The current suspension of imports is not expected to significantly impact the company's parent stock production for 2026 [1] Group 2 - The company will closely monitor the developments regarding avian influenza abroad and maintain communication with foreign breeding companies [1]

Core Viewpoint - The company, Yisheng Co., Ltd. (002458.SZ), is currently unable to import grandparent white feather broiler chickens from abroad due to the impact of avian influenza, which will not affect its parent stock production significantly in 2026 [1] Group 1: Import and Supply Situation - The company has no plans to import grandparent white feather broiler chickens in February and March 2026 [1] - In 2025, the company imported 266,000 sets of grandparent white feather broiler chickens, with a year-on-year increase in import volume [1] - The current suspension of imports is not expected to have a major impact on the company's parent stock production for 2026 [1] Group 2: Monitoring and Communication - The company will closely monitor the developments regarding avian influenza abroad [1] - The company plans to maintain communication with foreign breeding companies regarding the situation [1]