Group 1: Company Overview - Yisheng Co., established in 1989, has maintained the largest scale of chicken breeding in China for over a decade, accounting for approximately 1/3 of the domestic market share in grandparent meat chicken breeding [2] - The company is the largest grandparent meat chicken breeding enterprise in Asia, focusing on high-generation poultry source supply as its core competitiveness [2] Group 2: Industry Developments - The company is expanding its breeding operations in both chicken and pig industries to enhance its risk resistance and profitability [3] - The introduction of the new chicken breed, Yisheng 909, has been successful, with plans to increase its production capacity to 300 million by the end of the 14th Five-Year Plan [4] Group 3: Market Challenges and Responses - The avian influenza outbreak in Alabama has not affected the company's grandparent chicken imports [3] - The company anticipates a decrease in the supply of parent generation chicken due to the ongoing avian influenza and flight issues, leading to a significant price increase for parent generation chicken [3] Group 4: Future Outlook - With the easing of pandemic restrictions, there is an expected increase in demand for white feather chicken meat, positively impacting the chicken seedling market [4] - The company plans to have a breeding stock of 12,000 original pigs and provide 100,000 original pigs annually, aiming to become a leading player in the domestic pig breeding industry [4]

Group 1: Investor Relations Activities - The investor relations activities included specific object research, analyst meetings, media interviews, performance briefings, and roadshows [2][3] - Participants included representatives from various investment firms such as Changjiang Securities, Shanghai Liuhe Investment, and CITIC Securities [2] Group 2: Project Progress and Capacity Release - The Baquanling joint venture project focuses on broiler breeding and processing, leveraging local advantages to enhance capacity and market share [3] - Two fundraising projects have been put into operation and are releasing capacity [3] - The Suining project, with a target of 900,000 sets, is under construction and has partially commenced production [3] - The Suqian COFCO project is partially operational, with expected product output in the second half of the year [3] - The Heilongjiang Yisheng and Anhui Xiaoxian projects are in normal production [3] Group 3: Industry Trends and Product Pricing - There has been a recent increase in the prices of commercial broiler chicks and parent stock chicks [3] Group 4: Development Strategy - The strategy includes stabilizing and increasing market share in the chick market [3] - The company aims to integrate resources to strengthen the Chinese broiler industry [3] Group 5: Product Value Addition - The focus is on moderately extending the upstream and downstream industrial chain to reduce industry volatility risks and enhance product value [4]

Group 1: Investor Relations Activities - The company engaged in specific investor research activities, including meetings with analysts and media interviews [2] - Various securities firms participated in the investor relations activities, including Huachuang Securities and Changjiang Securities [2] Group 2: Industry Overview - There are currently 13 companies in China involved in the breeding of grandparent meat chickens, with a total of 1.1568 million sets introduced in 2014; Yisheng introduced 313,000 sets [3] - The introduction of grandparent meat chickens in the first half of 2015 significantly decreased compared to the same period in 2014, indicating a shift in supply and demand dynamics in the poultry industry [3] Group 3: Company Development Strategy - The company's strategic direction is described as "linking upstream, extending downstream, and expanding in the middle," focusing on breeding and potential overseas collaborations [3] - The company plans to enhance its capital market presence and collaborate with related industries [4] Group 4: Promotion of Broiler Chickens - White feather broilers are recognized for their rapid growth, high feed-to-meat ratio, and superior meat quality, making them popular globally [4] - The promotion of white feather broilers is essential for consumer education, as many consumers lack understanding of this breed's advantages [5] - The nutritional benefits of white feather broilers include lower fat content compared to other meats, making them a healthier choice [5]

证券代码：002458 证券简称：益生股份 山东益生种畜禽股份有限公司投资者关系活动记录表 | --- | --- | --- | |----------------|------------------------------|----------------------------------------| | | ■特定对象调研 □分析师会议 | | | 投资者关系活动 | □媒体采访 □业绩说明会 | | | 类别 | □ 新闻发布会 □路演活动 | | | | □现场参观 □ | 其他（请文字说明其他活动内容） | | | | 安邦资产管理有限责任公司：陈静 | | | | 财通证券资产管理有限公司：杨琪 | | | | 上海陆宝投资管理有限公司：杨佳丽 | | | 中信证券股份有限公司：刘洋 | | | | 富国基金管理有限公司：王园园 | | | 参与单位名称及 | 宝盈基金管理有限公司：杨思亮 | | | 人员姓名 | | 上海尚阳投资管理有限公司：王永明 | | | | 上海申银万国证券研究所有限公司：叶洁 | | | | 上海申银万国证券研究所有限公司：赵金厚 | | | 嘉实基金管理有限 ...

Group 1: Investor Relations Activities - The company engaged in specific investor research activities, including meetings with various fund management companies such as Huatai-PineBridge and Galaxy Fund Management [1][2] - Notable participants in the investor relations activities included representatives from Galaxy Fund Management and China International Capital Corporation [2][3] Group 2: Industry Overview - In 2015, approximately 700,000 sets of grandparent stock broilers were introduced domestically [3] - The poultry breeding industry is undergoing a transformation with improved supply-demand relationships and adjustments in production structure [3] Group 3: Company Development Strategy - The company aims to seek cooperation with domestic and international grandparent breeding enterprises while increasing the production capacity of commercial broiler chicks [3] - Plans to leverage capital markets to create a collaborative platform for industry advancement [3] Group 4: White Feather Broiler Industry - White feather broilers are recognized for their high production speed, feed-to-meat ratio, and meat quality, making them popular globally [3][4] - The consumption of white feather chicken meat remains the highest in Europe, America, and Japan, indicating its significant market presence [3] Group 5: Sustainability Initiatives - The company emphasizes advantages in resource conservation, including savings in feed, land, water, and emissions [4] - Collaborative promotional activities are being organized to enhance consumer awareness of the benefits of white feather chicken products [4]

Group 1: Industry Overview - There are currently 13 companies in China engaged in the breeding of grandparent meat chickens, with a total of approximately 710,000 sets introduced nationwide in 2015, of which Yisheng introduced about 230,000 sets [3] - The poultry industry is characterized by significant cyclicality, experiencing a downturn since 2013 due to factors such as "fast-growing chickens," "avian influenza," and overcapacity [3] - The introduction of grandparent meat chickens in China has significantly decreased in 2015 compared to the same period in 2014, influenced by international trade restrictions [3] Group 2: Company Development Strategy - The company's strategic direction is described as "linking upstream, extending downstream, and expanding in the middle," focusing on breeding grandparent stock and seeking potential collaborations with overseas breeding enterprises [3] - The company plans to stabilize and increase sales of parent stock while also expanding into the market for commercial chicks [3] Group 3: Product Promotion - White feather meat chickens are recognized for their high production speed, feed-to-meat ratio, and quality, making them the most consumed chicken variety in Europe, the U.S., and Japan [4] - The company aims to educate consumers about white feather meat chickens, which can be marketed at around 40 days old, achieving a weight of over 5 kg, despite not reaching sexual maturity [4] - Collaborative promotional activities are being organized with other industry players to enhance consumer understanding and promote the healthy development of the white feather meat chicken industry in China [4] Group 4: Employee Stock Ownership Plan - The employee stock ownership plan has been completed, with employees holding a total of 31 million shares, purchased at an average price of 31.27 yuan, totaling 991,189 shares of the company's stock [4]

投资者关系活动记录表 证券代码：002458 证券简称：益生股份 山东益生种畜禽股份有限公司 投资者关系活动记录表 编号：2016-002 | --- | --- | --- | --- | --- | |----------------|----------------------------------|----------------------------------|-------|--------| | | | | | | | | ■ 特定对象调研 | □ 分析师会议 | | | | | □ 媒体采访 | □业绩说明会 | | | | | □新闻发布会 | □路演活动 | | | | | □ 现场参观 | □一对一沟通 | | | | 投资者关系活动 | □其他 （请文字说明其他活动内容） | | | | | | 国泰君安证券股份有限公司 | | | 王乾 | | 类别 | 国泰君安证券股份有限公司 | | | 钱浩 | | | 方正证券股份有限公司 | | | 刘育华 | | | 红土创新基金管理有限公司 | | | 陈方园 | | | 建信基金管理公司 | | | 刘克飞 | | | 巨杉资产 ...

投资者关系活动记录表 证券代码：002458 证券简称：益生股份 山东益生种畜禽股份有限公司 投资者关系活动记录表 编号：2016-004 | --- | --- | --- | --- | --- | |----------------|----------------------------------|----------------------------------|-------------|--------| | | ■ 特定对象调研 | □ | 分析师会议 | | | | □ 媒体采访 | | □业绩说明会 | | | | □新闻发布会 | | □路演活动 | | | 投资者关系活动 | □ 现场参观 | | □一对一沟通 | | | 类别 | □其他 （请文字说明其他活动内容） | | | | | | 诺安基金管理有限公司 | | | 张 强 | | | 统一证券投资信托股份有限公司 | | | 林川钦 | | | 统一证券投资信托股份有限公司 | | | 林玉珠 | | 时间 | | 2016 年 5 月 12 日 | | | | 地点 | | 山东益生种畜禽股份有限公司会议室 | | | ...

Group 1: Company Overview - Yisheng Co., established in 1989, is the largest ancestor meat chicken breeding enterprise in China and Asia, holding approximately 33% of the domestic market share for ancestor meat chickens [3] - The company also has a significant presence in the market for commercial broiler chicks, accounting for about 10% of the domestic market [3] Group 2: Market Trends and Pricing - Recent decline in chick prices is attributed to the holiday season affecting slaughterhouses, leading to a temporary halt in hatching [3] - The price of parent broiler chicks has increased due to supply-demand dynamics, with a notable shortage in ancestor white feather broiler imports since May, resulting in a projected high market demand for the next year [3][4] - Chicken meat consumption has risen from 20.9% of total meat consumption in 2010 to nearly 30% currently, driven by health trends and the growth of the takeaway and prepared food industries [3] Group 3: Production and Capacity - The company produced over 500 million commercial broiler chicks in 2022, with the new Yisheng 909 breed expected to reach an output of over 300 million by the end of the 14th Five-Year Plan [4] - The company plans to significantly increase the production capacity of the Yisheng 909 breed, which has shown superior performance in terms of meat yield and disease resistance [4] Group 4: Challenges and Strategic Responses - The rise in feed raw material prices impacts production costs, with feed costs accounting for approximately 70% of total costs in commercial chicken farming [5] - The company has adapted its farming practices to mitigate the impact of rising feed costs, including transitioning from free-range to cage farming to enhance efficiency [5] - Future plans include importing ancestor meat chickens, contingent on international supply conditions affected by avian influenza [4]

投资者关系活动记录表 证券代码：002458 证券简称：益生股份 山东益生种畜禽股份有限公司 投资者关系活动记录表 编号：2017-001 | --- | --- | --- | --- | --- | --- | --- | --- | --- | |----------------|----------------------------------|----------------------------------|-------|-------------|-------|--------------|-------|-------| | | | | | | | | | | | | ■ 特定对象调研 | □ | | 分析师会议 | | | | | | | □ 媒体采访 | | | □业绩说明会 | | | | | | | □新闻发布会 | □路演活动 | | | | | | | | | □ 现场参观 | | | □一对一沟通 | | | | | | | □其他 （请文字说明其他活动内容） | | | | | | | | | 投资者关系活动 | 长江证券股份有限公司 | | | | | 余昌、姚雪梅 ...