Group 1 - The core viewpoint of the news is that Jin Xin Nong's stock has experienced fluctuations, with a recent decline of 2.05% and a total market value of 5.135 billion yuan [1] - As of January 12, the stock price is reported at 6.20 yuan per share, with a trading volume of 89.95 million yuan and a turnover rate of 1.78% [1] - The company has seen a year-to-date stock price increase of 1.97%, with a 4.03% rise over the last five trading days, a 12.12% increase over the last 20 days, and a 30.53% increase over the last 60 days [2] Group 2 - Jin Xin Nong's main business involves the research, production, and sales of pig feed products, with revenue composition including 49.43% from pig compound feed, 32.10% from live pigs, and smaller percentages from other feed types [2] - As of December 31, the number of shareholders is reported at 36,100, a decrease of 5.09% from the previous period, while the average circulating shares per person increased by 5.37% to 22,280 shares [2] - The company reported a revenue of 3.541 billion yuan for the period from January to September 2025, reflecting a year-on-year growth of 3.04%, but a net profit attributable to shareholders of -94.22 million yuan, a decrease of 438.06% [2] Group 3 - Jin Xin Nong has distributed a total of 368 million yuan in dividends since its A-share listing, with no dividends paid in the last three years [3] - As of September 30, 2025, the second-largest circulating shareholder is Guotai Zhongzheng Livestock Breeding ETF, holding 12.7276 million shares, an increase of 4.7225 million shares from the previous period [3]

Core Viewpoint - The pig farming industry in China is experiencing a prolonged period of low prices and losses due to supply-demand imbalances, with a shift towards fine-tuned operations expected in the future [2][6]. Supply and Demand Imbalance - The industry is currently facing losses primarily due to high production capacity, with the number of breeding sows remaining elevated at 39.9 million as of October 2025, which is 102.3% of the normal level [4]. - The average price of live pigs was reported at 12.25 yuan/kg as of December 28, 2025, still below the breakeven cost of 14 yuan/kg [2]. Price Trends and Profitability - The average price of live pigs for the entire year of 2025 is projected to be between 13.9 and 14 yuan/kg, with significant price drops observed from August onwards [3]. - By December 26, 2025, the losses for self-breeding and purchased pig farming were reported at -130 yuan/head and -163 yuan/head, respectively [3]. Production Capacity and Adjustments - The number of breeding sows has decreased by approximately 400,000 from a peak of 4.39 million in December 2022, but the current level remains high [4]. - Despite efforts to reduce production capacity, the pace of adjustment has been slow, with major companies like Wens Foodstuffs and Zhengbang Technology already meeting their annual output targets by November 2025 [5]. Cost Reduction and Efficiency - Companies are focusing on cost reduction and efficiency improvements, with some achieving significant reductions in production costs, such as Muyuan Foods at 11.3 yuan/kg and Wens Foodstuffs at 12.2-12.4 yuan/kg [8]. - The industry consensus indicates that relying solely on scale is no longer sufficient for profit growth, leading to a transition towards a micro-profit era [9]. Industry Trends and Future Outlook - The industry is expected to undergo a transformation towards sustainable development, emphasizing collaboration across the supply chain, including feed production, breeding, and processing [10]. - The involvement of large agricultural groups and cross-industry capital is anticipated to intensify competition and capacity expansion in the short term, while promoting modernization and stability in the long term [10].

格隆汇1月9日丨金新农(002548.SZ)公布，2025年12月生猪销量22.58万头（其中商品猪11.86万头、仔猪 10.72万头、种猪0.001万头），生猪销售收入18,883.28万元，商品猪销售均价11.54元/公斤。2025年1-12 月生猪销量合计147.51万头（其中商品猪78.39万头、仔猪68.49万头、种猪0.62万头），同比增长 22.82%；生猪销售收入合计152,931.80万元，同比下降7.13%；商品猪销售均价13.66元/公斤。 ...

智通财经APP讯，金新农(002548.SZ)披露2025年12月生猪销售简报，公司2025年12月生猪销量22.58万 头(其中商品猪11.86万头、仔猪10.72万头、种猪0.001万头)，生猪销售收入1.89亿元，商品猪销售均价 11.54元/公斤。 ...

证券代码：002548 证券简称：金新农 公告编号：2026-001 深圳市金新农科技股份有限公司 2025 年 12 月生猪销售简报 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。 注：1、2025 年 12 月生猪销量同比增长 80.21%，主要系公司合作养殖业务 商品猪出栏增加，以及自繁自养业务仔猪出栏增加。 2、上述销售数据未包含公司参股公司数据。上述数据未经审计，与定期报 告披露的数据可能存在差异，因此上述数据仅作为阶段性数据供投资者参考。因 四舍五入，以上数据可能存在尾数差异。 二、风险提示 （一）上述披露仅包含公司畜牧养殖业务销售情况，不含其它业务。 （二）生猪市场价格的大幅波动，可能会对公司的经营业绩产生重大影响， 敬请广大投资者注意投资风险。 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 12 月生猪销量 22.58 万头（其中商品猪 11.86 万头、仔猪 10.72 万头、种猪 0.001 万头），生 猪销售收入 18,883.28 万元，商品猪销售均价 11.54 元/公斤。 2025 年 1-12 月生猪 ...

Group 1 - The core point of the article is that Jin Xin Nong (002548) reported its pig sales for December 2025, indicating a total sales volume of 225,800 pigs [1] - The breakdown of the sales includes 118,600 commercial pigs, 107,200 piglets, and 1,000 breeding pigs [1] - The total sales revenue from pig sales amounted to 189 million yuan, with an average selling price of 11.54 yuan per kilogram for commercial pigs [1]

金新农公告,公司2025年12月生猪销量22.58万头（其中商品猪11.86万头、仔猪10.72万头、种猪0.001万 头），生猪销售收入1.89亿元，商品猪销售均价11.54元/公斤。2025年1-12月生猪销量合计147.51万头 （其中商品猪78.39万头、仔猪68.49万头、种猪0.62万头），同比增长22.82%；生猪销售收入合计15.29 亿元，同比下降7.13%；商品猪销售均价13.66元/公斤。 ...

Core Insights - The feed sector experienced a rise of 0.74% on January 9, with Baiyang Co., Ltd. leading the gains [1] - The Shanghai Composite Index closed at 4120.43, up 0.92%, while the Shenzhen Component Index closed at 14120.15, up 1.15% [1] Feed Sector Performance - Baiyang Co., Ltd. (002696) closed at 7.40, with a gain of 4.52% and a trading volume of 212,900 shares, amounting to a transaction value of 154 million yuan [1] - Tianma Technology (603668) closed at 17.05, up 2.40%, with a trading volume of 206,300 shares and a transaction value of 348 million yuan [1] - Dabeinong (002385) closed at 4.08, up 0.99%, with a trading volume of 983,400 shares and a transaction value of 400 million yuan [1] - Haida Group (002311) closed at 53.51, up 0.98%, with a trading volume of 94,800 shares and a transaction value of 501 million yuan [1] - Other notable companies include Jinxinnong (002548), Hefeng Co., Ltd. (603609), and Petty Co., Ltd. (300673), with respective closing prices and gains [1] Capital Flow Analysis - The feed sector saw a net outflow of 9.33 million yuan from main funds, while retail funds experienced a net inflow of 30.09 million yuan [2] - Dabeinong had a main fund net inflow of 42.81 million yuan, while Haida Group saw a net outflow of 60.89 million yuan from retail investors [3] - Baiyang Co., Ltd. had a main fund net inflow of 16.28 million yuan, with retail investors also showing a net outflow [3]

公司发布的三季报数据显示，前三季公司共实现营业收入35.41亿元，同比增长3.04%，实现净利 润-9422.05万元，同比下降438.06%，基本每股收益为-0.1200元。（数据宝） 金新农1月7日披露，截至12月31日公司股东户数为36106户，较上期（12月20日）减少1938户，环比降 幅为5.09%。 证券时报·数据宝统计，截至发稿，金新农收盘价为6.20元，平盘报收，本期筹码集中以来股价累计上涨 10.12%。具体到各交易日，5次上涨，5次下跌，其中，涨停1次。 （文章来源：证券时报网） ...

证券之星消息，1月6日饲料板块较上一交易日上涨0.49%，金新农领涨。当日上证指数报收于4083.67， 上涨1.5%。深证成指报收于14022.55，上涨1.4%。饲料板块个股涨跌见下表： 从资金流向上来看，当日饲料板块主力资金净流出1585.63万元，游资资金净流出1634.42万元，散户资金 净流入3220.05万元。饲料板块个股资金流向见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 002548 | 金新农 | 6.20 | 4.03% | 67.63万 | 4.18亿 | | 301498 | 乖宝宠物 | 67.09 | 1.65% | 3.40万 | 2.26亿 | | 300673 | 佩蒂股份 | 18.53 | 1.53% | 6.31万 | 1.17亿 | | 920419 | 路斯股份 | 16.30 | 1.24% | 7579.18 | 1232.36万 | | 603151 | 邦臺科技 | 18.94 | 1.12% | 2.30万 | 4342.43万 ...