Group 1 - The core point of the article is that Daxinghang Feed Co., Ltd., a major shareholder of Tangrenshen (002567.SZ), plans to reduce its holdings by selling up to 9,934,436 shares within a specified timeframe [1] - Daxinghang currently holds 98,106,200 shares, representing 6.85% of the total share capital of 1,433,051,393 shares [1] - The planned reduction will occur from September 3, 2025, to December 1, 2025, through centralized bidding transactions [1] Group 2 - The reduction represents 0.70% of the total share capital after excluding 8,713,500 shares held in the repurchase special account [1] - The total share capital after excluding the repurchase account is 1,424,337,893 shares [1]

证券代码：002567 证券简称：唐人神 公告编号：2025-074 唐人神集团股份有限公司 关于 5%以上股东减持股份预披露公告 公司 5%以上股东大生行饲料有限公司保证向本公司提供的信息内容真实、 准确、完整，没有虚假记载、误导性陈述或重大遗漏。 特别提示： 持有唐人神集团股份有限公司（以下简称"公司"）股份 98,106,200 股（占 当前公司总股本 1,433,051,393 股的比例为 6.85%；占公司剔除回购专用账户 8,713,500 股股份后的总股本 1,424,337,893 股的比例为 6.89%）的 5%以上股东大 生行饲料有限公司（以下简称"大生行"），计划自本次减持计划披露之日起 15 个交易日后的 3 个月内（2025 年 9 月 3 日至 2025 年 12 月 1 日），以集中竞价交 易方式减持公司无限售条件流通股不超过 9,934,436 股（占公司剔除回购专用账 户 8,713,500 股股份后的总股本 1,424,337,893 股的 0.70%）。 公司于近日收到 5%以上股东大生行的通知，大生行拟通过深圳证券交易所 集中竞价交易方式减持其所持有的部分公司股份，现将 ...

唐人神公告，大生行饲料有限公司现持有9810.62万股，占公司总股本6.85%，占剔除回购股份后总股本 6.89%；因自身资金需要，拟于2025年9月3日至2025年12月1日通过集中竞价方式减持不超过993.44万 股，占剔除回购股份后总股本0.70%。 ...

Investment Rating - The report maintains an investment rating of "Buy-A" for Haida Group and "Buy-B" for Shengnong Development, Wen's Shares, and others [7]. Core Insights - The report suggests focusing on the recovery cycle of feed and the marginal improvement in breeding [1]. - The pig price has decreased week-on-week, with average prices in key provinces showing a decline [3]. - The feed industry is expected to see a bottoming out and recovery due to the decline in upstream raw material prices and improvements in the downstream breeding sector [3]. - The report highlights the potential growth of Haida Group's overseas feed business as a new performance growth point [3]. Industry Performance - For the week of August 4 to August 10, the CSI 300 index rose by 1.23%, while the agriculture sector increased by 2.52%, ranking 10th among sectors [2][24]. - The top-performing sub-industries included broiler chicken breeding, fruit and vegetable processing, and pig breeding [2][24]. Pig Breeding Sector - As of August 8, the average price of external three-way cross pigs in Sichuan, Guangdong, and Henan was 13.30, 15.39, and 13.83 yuan/kg, respectively, reflecting a week-on-week decline of 2.92%, 4.05%, and 3.82% [3][33]. - The average pork price was 20.41 yuan/kg, down 0.92% from the previous week [3][33]. - The self-breeding profit was 45.13 yuan/head, while the profit from purchasing piglets was -134.14 yuan/head [3][33]. Poultry Sector - As of August 8, the weekly price of white feather broiler chickens was 7.14 yuan/kg, up 4.54% week-on-week [3][47]. - The price of broiler chicks was 3.13 yuan/chick, reflecting a week-on-week increase of 21.79% [3][47]. - The profit from chicken breeding was 0.62 yuan/chick, while egg prices fell by 6.94% to 6.70 yuan/kg [3][47]. Feed Processing Sector - In June 2025, the total industrial feed production in China was 27.67 million tons, a month-on-month decrease of 0.1% but a year-on-year increase of 6.6% [54]. - The production of compound feed, concentrated feed, and additive premix feed saw year-on-year growth of 6.6%, 3.4%, and 8.7%, respectively [54]. Recommendations - The report recommends stocks such as Wen's Shares, Shengnong Group, Juxing Agriculture, Tangrenshen, and New Hope in the pig breeding sector due to expected profitability recovery starting from Q2 2024 [4]. - It also highlights the potential of domestic pet food brands like Guibao Pet and Zhongchong Shares, which are expected to perform well in the upcoming years [5].

Core Viewpoint - The Chinese livestock industry is experiencing a phase of high pig production capacity, prompting the Ministry of Agriculture and Rural Affairs to implement comprehensive production capacity regulation to mitigate risks of price volatility and overproduction [1][2]. Group 1: Market Performance - As of August 12, 2025, the CSI Livestock Breeding Index (930707) increased by 0.68%, with notable gains from companies such as Xiaoming Co. (300967) up 6.50%, Minhe Co. (002234) up 6.19%, and Yisheng Co. (002458) up 3.28% [1]. - The Livestock ETF (159867) rose by 0.46%, marking its third consecutive increase, with the latest price at 0.65 yuan [1]. Group 2: Policy and Regulation - The Ministry of Agriculture and Rural Affairs has announced plans to guide the reduction of approximately 1 million breeding sows to prevent production fluctuations and price instability [1]. - A meeting held on July 23 emphasized strict implementation of production capacity regulation measures, including the rational elimination of breeding sows and control of new production capacity [1]. Group 3: Industry Outlook - Recent policies are expected to accelerate the elimination of inefficient production capacity in the industry, potentially leading to a long-term increase in pig prices, benefiting low-cost and high-quality pig enterprises [1]. - The top ten weighted stocks in the CSI Livestock Breeding Index account for 64.83% of the index, indicating a concentrated market structure [2].

Core Insights - The core viewpoint of the articles is that the Chinese pig industry is undergoing a significant adjustment in production capacity, particularly focusing on reducing the number of breeding sows to stabilize pig prices and mitigate the cyclical volatility of the market [1][2][3]. Industry Overview - The Ministry of Agriculture and Rural Affairs has announced a plan to reduce the breeding sow population by approximately 1 million heads to prevent extreme fluctuations in production and prices [1]. - As of June, the national pig inventory was 424 million heads, with breeding sows at 40.43 million heads, which is 103.7% of the normal holding capacity, indicating a need for capacity adjustment [2]. - The current pig cycle is the sixth, characterized by shorter cycles, increased short-term volatility, and a supply-demand imbalance where supply is strong but demand is weak [3]. Price Trends - The price of live pigs has reached a new low for the year at 13.77 yuan/kg as of August 10, reflecting a cumulative decline of approximately 13.9% since the beginning of the year [2][5]. - The price drop has significantly impacted the profitability of listed pig companies, with many reporting double-digit declines in sales revenue in July compared to the previous year [1][5]. Company Performance - Major listed companies like Muyuan Foods and Wen's Foodstuffs have reported declines in sales volume and revenue due to the seasonal drop in demand and low prices [6][7]. - For instance, Muyuan Foods sold 6.355 million pigs in July, a decrease of 9.5% month-on-month, with a sales revenue of 11.639 billion yuan, down 10.41% year-on-year [6]. - Smaller companies also faced challenges, with some reporting their lowest sales volumes of the year in July [6]. Future Outlook - The ongoing production capacity adjustments are expected to have a long-term impact on pig prices, with potential for price recovery if capacity reduction is significant [3]. - The industry is likely to transition towards a more stable and high-quality development phase, with larger companies benefiting from improved cost control and cash flow capabilities [1][7].

Company Announcements - Jihua Group's main business and existing product system do not involve brain-computer interface related fields [1] - Hongjing Optoelectronics plans to invest 1.533 billion yuan to build a research and manufacturing headquarters project [1] - Zhuojin Co., Ltd. won the bid for soil control project around Longchao Line [1] - Jianghuai Automobile's July sales totaled 25,197 units, a year-on-year decrease of 21.73% [1][2] - Lakala intends to transfer 100% equity of certain subsidiaries [1] - Haitai High-tech completed a buyback, spending a total of 70.91 million yuan to repurchase 6.69995 million shares [1] - Tongchen Beijian reported a net profit of 737 million yuan for the first half of the year, a year-on-year decrease of 17.34% [1][3] - Xuelang Environment's shareholders plan to reduce their holdings by a total of no more than 3% [1] - Huaxia Happiness's shareholders plan to reduce their holdings by a total of no more than 3% [1] - Sanxin Medical plans to issue convertible bonds to raise no more than 530 million yuan [1] - *ST Gaohong's stock may face mandatory delisting due to major legal violations [1] Investment and Financial Data - GAC Group's July automobile sales were 119,482 units, a year-on-year decrease of 15.38% [2] - Minghe Co., Ltd. reported July sales revenue of 41.36 million yuan [2] - Tangrenshen's July pig sales revenue totaled 589.6 million yuan [3] - Tiankang Biological's July pig sales revenue was 335 million yuan [3] - Chongqing Construction's new contract amount for the first half of the year was 24.271 billion yuan, a year-on-year decrease of approximately 19.20% [3] Shareholder Actions - Guangdong Hongda's subsidiary plans to acquire 60% equity of Changzhilin [3] - Ningbo Energy intends to acquire a total of 41% equity of Yongneng Comprehensive Energy [3] - Tianyang Technology plans to invest to acquire 51% equity of Moshuzhiqing [3] - ST Lutong's specific shareholders plan to reduce their holdings by a total of no more than 3.27% [3] - Jiuliang Co., Ltd.'s shareholders plan to reduce their holdings by a total of no more than 3% [3] - Ailis's employee stock ownership platform plans to reduce a total of no more than 13.5 million shares [3] - Huaxia Happiness's shareholders plan to reduce their holdings by a total of no more than 3% [3] Other Developments - Sanxin Medical plans to use the raised funds for the expansion project of producing 10 million blood dialysis membranes and 10 million blood dialysis devices [3]

Group 1: Pig Sales Performance - In July 2025, the company sold 351,600 pigs, a 23.37% increase year-on-year compared to 285,000 pigs sold in July 2024, but a 14.91% decrease month-on-month [2] - The total sales revenue for July 2025 was 589.60 million yuan, reflecting a 2.81% decrease year-on-year and a 15.50% decrease month-on-month [2] - Cumulative pig sales from January to July 2025 reached 2,945,200 pigs, a 35.86% increase compared to 2,167,800 pigs in the same period of 2024, with total sales revenue of 5,073.62 million yuan, up 42.64% year-on-year [2] Group 2: Guarantee Progress - The company has approved a total guarantee amount of up to 8.65 billion yuan for 2025, which can be used for various financing activities including bank loans and leasing [5][6] - As of July 31, 2025, the total guarantee balance for consolidated entities was 4.20 billion yuan, accounting for 71.28% of the company's audited net assets as of the end of 2024 [7] - The total guarantee balance for non-consolidated entities was 997.89 million yuan, representing 16.95% of the company's audited net assets, with overdue guarantees amounting to 160.96 million yuan [7]

每经AI快讯，唐人神（002567）8月8日公告，2025年7月生猪销量35.16万头(其中商品猪33.52万头，仔 猪1.64万头)，2024年7月生猪销量28.50万头(其中商品猪26.41万头，仔猪2.09万头)，同比上升23.37%， 环比下降14.91%；销售收入合计58960万元，同比下降2.81%，环比下降15.50%。 ...

人民财讯8月8日电，唐人神（002567）8月8日晚间公告，7月生猪销量35.16万头(其中商品猪33.52万 头，仔猪1.64万头)，同比上升23.37%，环比下降14.91%；销售收入合计5.9亿元，同比下降2.81%，环 比下降15.50%。2025年1—7月累计生猪销量294.52万头(其中商品猪280.13万头，仔猪14.39万头)，同比 上升35.86%；销售收入50.74亿元，同比上升42.64%。 ...