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]

证券之星消息，9月2日饲料板块较上一交易日下跌0.09%，路德环境领跌。当日上证指数报收于 3858.13，下跌0.45%。深证成指报收于12553.84，下跌2.14%。饲料板块个股涨跌见下表： 以上内容为证券之星据公开信息整理，由AI算法生成（网信算备310104345710301240019号），不构成投资建议。 | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 832419 | 路斯股份 | 20.70 | 1.02% | 2.50万 | 5131.56万 | | 002311 | 海大集团 | 61.27 | 0.82% | 5.59万 | - 3.43 Z | | 001366 | 播恩集团 | 12.69 | 0.55% | 3.49万 | 4367.54万 | | 002100 | 天康生物 | 6.73 | 0.45% | 44.17万 | 2.95 Z | | 603609 | 禾丰股份 | 8.62 | 0.23% | 5.69万 | 4883.88万 | | 002548 ...

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]

Group 1 - The feed sector experienced a slight decline of 0.08% on September 1, with Lude Environment leading the drop [1] - The Shanghai Composite Index closed at 3875.53, up 0.46%, while the Shenzhen Component Index closed at 12828.95, up 1.05% [1] - Major stocks in the feed sector showed varied performance, with Bangmu Technology leading with a 9.99% increase, closing at 26.43 [1] Group 2 - The feed sector saw a net inflow of 146 million yuan from institutional investors, while retail investors experienced a net outflow of 36.42 million yuan [1] - The trading volume for key stocks in the feed sector varied, with Aonong Biological recording a volume of 1.6445 million shares traded [1] - The total transaction value for Bangmu Technology reached 270 million yuan, indicating strong investor interest [1]

Investment Rating - The report indicates a positive outlook for the agriculture, forestry, animal husbandry, and fishery sectors, with a focus on improving profitability driven by declining feed costs and increased production scale [1][11]. Core Insights - The overall agricultural sector has seen a revenue increase of 6.12% year-on-year in H1 2025, reaching 614.8 billion yuan, with a significant profit increase of 198% to 27 billion yuan, primarily due to the recovery of the pig farming sector [1][11]. - The pig farming sector is experiencing a seasonal price decline, yet remains profitable due to reduced feed costs and increased production efficiency [2][28]. - The poultry farming sector has shown mixed performance, with revenue slightly declining by 0.29% in H1 2025, but net profit improved by 6.43% due to lower costs [3][21]. - The seed sector reported a revenue increase of 5.05% in H1 2025, although net profit turned negative, indicating challenges in seed sales due to falling grain prices [4][21]. Summary by Sections Industry Overview - Feed prices have been on a downward trend, improving overall farming costs. Pig prices have remained stable year-on-year, while poultry prices have been low but profitable across the supply chain. The agricultural product supply-demand balance is easing, with major product prices at low levels [1][11]. - In H1 2025, the sector achieved revenues of 614.8 billion yuan and net profits of 27 billion yuan, with significant contributions from the pig farming sector [1][11]. Pig Farming - In 2024, pig supply is expected to decrease, with prices showing seasonal trends. Despite a decline in prices post-October, the sector remains profitable. In Q1 2025, the average price was 15.01 yuan/kg, up 3.90% year-on-year, while Q2 saw a price drop to 14.56 yuan/kg, down 10.94% year-on-year [2][28]. - The pig farming sector generated revenues of 248.6 billion yuan in H1 2025, a 15.67% increase, with net profits soaring by 1551% to 17.1 billion yuan [2][28]. Poultry Farming - The poultry sector's revenue in H1 2025 was 33.7 billion yuan, a slight decline of 0.29%, but net profit increased by 6.43% to 1 billion yuan due to lower costs [3][21]. - The white feather chicken segment remains stable despite low prices, while the yellow feather chicken segment is recovering from previous losses [3][21]. Seed Sector - The seed sector reported revenues of 8.87 billion yuan in H1 2025, a 5.05% increase, but net profit turned negative, indicating challenges in the market [4][21].