Group 1 - The company Jin Xin Nong (002548) announced its pig sales forecast for August 2025, projecting a total of 108,000 pigs sold, which includes 66,800 commercial pigs, 40,100 piglets, and 800 breeding pigs [1] - The expected sales revenue from pig sales is 121.065 million yuan, indicating a significant contribution to the company's financial performance [1] - The average selling price of commercial pigs is projected to be 13.84 yuan per kilogram, reflecting the market conditions and pricing strategy [1]

Major Events - Kweichow Moutai's controlling shareholder obtained a loan of 2.7 billion yuan to increase holdings [1] - SMIC is actively promoting the purchase of 49% equity in SMIC North, but the transaction plan is still under discussion [1] - Guokai Microelectronics is advancing the issuance of shares and cash payment for asset acquisition and fundraising [1] - Aerospace Hongtu signed a strategic cooperation agreement with Pakistan, but the formal contract signing remains uncertain [1] - Sinopec announced a cash dividend of 0.088 yuan per share (before tax) for A-shares [1] - Hikvision's chairman proposed a mid-2025 dividend plan of 4 yuan for every 10 shares [1] - Anzheng Fashion reported no undisclosed major events [1] - China State Construction is acquiring equity in a Shanghai real estate project for approximately 15.478 billion yuan [1] - Guokai Co., Ltd. changed its stock name to Guokai Electronics [1] - Kailuan Co. completed the change in the equity structure of China Cinda [1] - Unification Co. completed the change in the equity structure of its controlling shareholder [1] - ST Xin Dongli's stock may face delisting risk warning [1] - Jinlang Technology reported normal recent operations with no significant changes in the internal and external environment [1] - Sungrow Power Supply confirmed normal operations with no undisclosed major events [1] - Tiantong Co. reported normal production and operations with no significant changes [1] - Keyuan Pharmaceutical received a decision letter on the anti-monopoly review without further examination [1] - Zhizheng Co. was approved to issue shares for asset acquisition and fundraising [1] - Amlogic plans to issue H-shares and list on the Hong Kong Stock Exchange [1] - Digital Certification's controlling shareholder changed to Beijing Data Group [1] - ST Songfa signed a contract for two 30.6 million-ton ultra-large crude oil tankers with Hengli Shipbuilding [1] - Guangqi Technology signed a contract worth 1.278 billion yuan for the mass production of metamaterials [1] - Hongrun Construction won a bid for the Ningbo Ring City South Road East Extension Phase I project with a bid price of 388 million yuan [1] Performance - Muyuan Foods reported sales revenue of 11.85 billion yuan from live pigs in August, a year-on-year decrease of 12.30% [1] - Ankai Bus's cumulative production increased by 68.06% this year [1] - Shuguang Co. reported a 45.58% increase in axle sales in August [1] - Jinxinnong reported sales revenue of 121 million yuan from live pigs in August [1] Buyback - Yingke Medical adjusted the upper limit of its share repurchase price from 26.51 yuan per share to 41.88 yuan per share [2]

Group 1 - The company Jin Xin Nong (002548.SZ) reported a pig sales volume of 108,000 heads for August 2025, which includes 66,800 heads of commercial pigs, 40,100 heads of piglets, and 800 heads of breeding pigs [1] - The sales revenue from pig sales amounted to 121.065 million yuan [1] - The average selling price of commercial pigs was 13.84 yuan per kilogram [1]

Sales Performance - In August 2025, the company reported a sales revenue of 121.065 million yuan from pig sales, with an average selling price of 13.84 yuan per kilogram [1] - The sales volume of pigs for the month was not specified in terms of quantity but is included in the overall sales revenue [1] - The disclosed sales data does not include figures from the company's affiliated companies and is unaudited, indicating potential discrepancies with periodic report disclosures [1] Market Conditions - The company highlights that the sales data pertains solely to its livestock farming business, excluding other business operations [1] - Significant fluctuations in pig market prices could have a substantial impact on the company's operational performance, which is a point of caution for investors [1]

四舍五入，以上数据可能存在尾数差异。 二、风险提示 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 一、生猪销售情况 深圳市金新农科技股份有限公司（以下简称公司）2025 年 08 月生猪销量 10.80 万头（其中商品猪 6.68 万头、仔猪 4.01 万头、种猪 0.08 万头），生猪 销售收入 12,106.50 万元，商品猪销售均价 13.84 元/公斤。 | | 时间 | 生猪销售数量（万头） | | 生猪销售收入（万元） | | 商品猪价格 | | --- | --- | --- | --- | --- | --- | --- | | | | | | | | （元/公斤） | | | | 当月 | 累计 | 当月 | 累计 | 当月 | | 2024 | 年 月 08 | 10.02 | 79.21 | 17,227.62 | 107,796.08 | 20.24 | | 2024 | 年 09 月 | 9.39 | 88.60 | 15,053.65 | 122,849.73 | 18.95 | | 2024 | 年 10 月 | 9.75 | ...

Core Insights - The company Jin Xin Nong (002548.SZ) reported its pig sales for August 2025, indicating a total sales volume of 108,000 pigs, which includes 66,800 commercial pigs, 40,100 piglets, and 800 breeding pigs [1] - The sales revenue from pig sales reached 121 million yuan, with the average selling price of commercial pigs at 13.84 yuan per kilogram [1] Sales Performance - Total pig sales volume: 108,000 pigs [1] - Breakdown of sales: 66,800 commercial pigs, 40,100 piglets, and 800 breeding pigs [1] - Sales revenue: 121 million yuan [1] - Average price of commercial pigs: 13.84 yuan/kg [1]

Group 1 - The company announced that the sales volume of live pigs in August 2025 is expected to be 108,000 heads, including 66,800 heads of commercial pigs, 40,100 heads of piglets, and 800 heads of breeding pigs [1] - The sales revenue from live pigs in August 2025 is projected to be 121 million yuan, with the average selling price of commercial pigs at 13.84 yuan per kilogram [1] - Cumulatively, the sales volume of live pigs for the year 2025 is expected to reach 819,700 heads, with total sales revenue amounting to 980 million yuan [1]

Group 1 - The company Jin Xin Nong reported that as of August 20, the number of shareholders was 44,533 [2]

Core Viewpoint - The feed sector experienced a slight decline of 0.09% on September 2, with LuDe Environment leading the drop. The Shanghai Composite Index closed at 3858.13, down 0.45%, while the Shenzhen Component Index closed at 12553.84, down 2.14% [1]. Group 1: Market Performance - The feed sector's individual stock performance showed mixed results, with LuSi Co., Ltd. closing at 20.70, up 1.02%, and HaiDa Group at 61.27, up 0.82% [1]. - The overall trading volume in the feed sector was notable, with stocks like DaBeiNong and TangRenShen showing significant trading activity, with volumes of 102.10 thousand and 31.88 thousand respectively [1]. Group 2: Capital Flow - The feed sector saw a net outflow of 204 million yuan from main funds, while retail investors contributed a net inflow of 174 million yuan [2]. - The capital flow data indicates that speculative funds had a net inflow of 29.51 million yuan, suggesting a mixed sentiment among different types of investors [2].

Cost Management - The company's pig sales cost decreased by 1.34 RMB/kg year-on-year, with the current cost at 13.77 RMB/kg [2] - Feed constitutes approximately 62% of the total breeding cost, with other components being medicine (4%), labor (11%), depreciation (13%), and others (10%) [3] Production and Sales Targets - The company aims for a PSY (Pigs Sold per Year) of 27-28 by 2025, currently at around 25 [3] - The target for pig output in 2025 is 1.3 million heads, with the "company + farmer" model expected to contribute approximately 100,000 heads [3] - The expected output ratio for market pigs and piglets in the second half of the year is over 95% [3] Financial Performance - The company achieved a 31% increase in feed revenue, but the gross profit margin decreased by 2 percentage points due to intense competition [4] - The profit from feed business was approximately 22 million RMB, while the profit from pig farming was around 50 million RMB [4] Strategic Initiatives - The new chairman has proposed a shift from heavy asset to light asset operations, focusing on profit-centered models [5] - The company is exploring new products, including premium and specialty pigs, as well as new feed and pet food [5] - A stock incentive plan has been introduced to support management and reflect confidence in future growth [5] Debt and Financing - As of June, the company's debt-to-asset ratio was over 72%, slightly higher than at the end of 2024, due to increased bank financing for cooperative breeding [3] - Future improvements in cash flow and equity incentives are expected to lower the debt-to-asset ratio [3] Compliance and Market Response - The company is committed to high-quality pig farming and is actively responding to government policies to control breeding numbers and avoid overproduction [6] - The company emphasizes its role in rural revitalization and job creation through its cooperative model [6]