Group 1 - The company is closely monitoring and responding to national policy directions to promote high-quality development in the pig farming industry [2] - The company is making efforts to reduce pig farming costs and enhance its profitability [2]

Market Overview - The feed sector increased by 0.29% on September 19, with Tianma Technology leading the gains [1] - The Shanghai Composite Index closed at 3820.09, down 0.3%, while the Shenzhen Component Index closed at 13070.86, down 0.04% [1] Key Performers in the Feed Sector - Tianma Technology (603668) closed at 15.20, up 4.83% with a trading volume of 321,600 shares and a turnover of 486 million yuan [1] - Jin Xin Nong (002548) closed at 5.22, up 4.19% with a trading volume of 1,024,900 shares and a turnover of 521 million yuan [1] - Tian Kang Biological (002100) closed at 7.68, up 1.86% with a trading volume of 563,400 shares and a turnover of 427 million yuan [1] Capital Flow Analysis - The feed sector experienced a net outflow of 80.65 million yuan from institutional investors, while retail investors saw a net inflow of 5.61 million yuan [2] - The main capital inflow was observed in Jin Xin Nong, with a net inflow of 55.77 million yuan from institutional investors [3] - Hai Da Group (002311) had a net inflow of 18.08 million yuan from institutional investors, indicating positive sentiment [3]

Market Overview - The feed sector experienced a decline of 1.48% on September 17, with Bangji Technology leading the drop [1] - The Shanghai Composite Index closed at 3876.34, up 0.37%, while the Shenzhen Component Index closed at 13215.46, up 1.16% [1] Individual Stock Performance - Aonong Biological (603363) saw a closing price of 6.02, with an increase of 4.15% and a trading volume of 1.568 million shares, totaling a transaction value of 927 million yuan [1] - Guibao Pet (301498) closed at 96.05, up 2.60%, with a trading volume of 36,400 shares and a transaction value of 351 million yuan [1] - Zhongchong Co. (002891) closed at 56.39, up 1.46%, with a trading volume of 98,500 shares and a transaction value of 559 million yuan [1] - Bangji Technology (603151) closed at 28.21, down 8.32%, with a trading volume of 63,000 shares and a transaction value of 182 million yuan [2] - Haida Group (002311) closed at 64.40, down 3.01%, with a trading volume of 111,600 shares and a transaction value of 720 million yuan [2] Capital Flow Analysis - The feed sector saw a net outflow of 65.0615 million yuan from institutional investors, while retail investors experienced a net inflow of 24.4814 million yuan [2] - Aonong Biological had a net inflow of 29.917 million yuan from institutional investors, but a net outflow of 25.9353 million yuan from retail investors [3] - Zhongchong Co. had a net inflow of 27.7889 million yuan from institutional investors, with a net outflow of 27.0733 million yuan from retail investors [3]

Investment Rating - The industry investment rating is "Positive" (maintained) [1] Core Viewpoints - The report indicates that the pig price is expected to remain stable in the future despite a decline in August due to factors such as heavy weight slaughtering and the spread of African swine fever [3][13] - The average national pig sales price in August 2025 was 13.77 yuan/kg, down 5.35% month-on-month and down 32.35% year-on-year [3][13] - The report highlights that the supply of pigs may gradually tighten in the future due to a decrease in the proportion of large pigs in stock and an increase in the proportion of large pigs being slaughtered [4][17] Summary by Sections Industry Overview - In August 2025, the national pig slaughter volume was 4.3388 million heads, an increase of 4.34% month-on-month and 5.66% year-on-year [3][13] - The report notes that the completion rate of pig slaughtering plans was 100.04% in August, with a planned increase of 3.92% in September compared to actual slaughter in August [3][13] Market Dynamics - The structure of pig slaughtering shows an increase in the proportion of large pigs (over 150kg) being slaughtered, while the proportion of large pigs in stock has decreased [4][17] - The average profit for self-breeding and self-raising pigs in August was 36.80 yuan/head, a decrease of 63.80% month-on-month [5][20] Company Performance - A total of 12 listed pig farming companies reported a combined slaughter of 15.116 million heads in August, an increase of 29.79% year-on-year [6][23] - The average sales price of pigs for major listed companies decreased month-on-month, with specific companies reporting the following prices: - Muyuan Foods: 13.51 yuan/kg, down 5.5% - Wens Foodstuffs: 13.90 yuan/kg, down 6.5% - New Hope Liuhe: 13.54 yuan/kg, down 6.9% [7][28]

Group 1 - The core viewpoint indicates that the poultry industry, particularly the yellow-feathered chicken sector, has returned to profitability since August, with individual chicken profits estimated at 3-4 yuan, potentially offsetting earlier losses in the year [1] - The Pacific Securities report highlights a significant turnaround in the yellow chicken industry's integrated breeding model, which has led to substantial profits in August, contrasting with previous losses [1] - The recent increase in yellow chicken prices is attributed to low production capacity and a recovery in consumer demand, with expectations for continued price rebounds as the autumn and winter consumption peak approaches [1] Group 2 - As of August 29, 2025, the top ten weighted stocks in the China Securities Livestock Breeding Index account for 65.57% of the index, including major companies such as Muyuan Foods, Wens Foodstuff Group, and Haida Group [2]

Group 1 - The company Tangrenshen has begun supplying some meat products to Pandonglai through distributors and aims to expand the range of products supplied in the future [1]

格隆汇9月16日丨唐人神(002567.SZ)在投资者互动平台表示，目前公司已通过经销商供应部分肉制品给 胖东来，未来争取供应更多品类。 ...

Core Viewpoint - The company Tangrenshen (002567.SZ) has begun supplying certain meat products to the retailer Pang Dong Lai through distributors, with plans to expand the range of products supplied in the future [1] Group 1 - The company is currently supplying some meat products to Pang Dong Lai [1] - There is an intention to increase the variety of products supplied to Pang Dong Lai in the future [1]

Market Overview - The feed sector increased by 2.52% on September 15, with Aonong Biological leading the gains [1] - The Shanghai Composite Index closed at 3860.5, down 0.26%, while the Shenzhen Component Index closed at 13005.77, up 0.63% [1] Key Stocks Performance - Aonong Biological (603363) closed at 6.04, up 10.02% with a trading volume of 1.5461 million shares and a transaction value of 908 million yuan [1] - Tiankang Biological (002100) closed at 8.05, up 8.20% with a trading volume of 1.4636 million shares and a transaction value of 1.158 billion yuan [1] - Haida Group (002311) closed at 67.35, up 3.62% with a trading volume of 79,700 shares and a transaction value of 534 million yuan [1] - Other notable stocks include Quanjinong (002548) up 3.33%, Zhenghong Technology (000702) up 2.01%, and Tangrenshen (002567) up 1.80% [1] Capital Flow Analysis - The feed sector saw a net inflow of 116 million yuan from institutional investors, while retail investors experienced a net outflow of 47.8 million yuan [2] - Aonong Biological had a significant net inflow of 204 million yuan from institutional investors, representing 22.44% of its trading volume [3] - Tiankang Biological and Zhenghong Technology also saw net inflows from institutional investors, although retail investors showed net outflows [3]

为进一步加强与投资者的互动交流，唐人神集团股份有限公司（以下简称"公 司"）将参加由湖南证监局、湖南省上市公司协会与深圳市全景网络有限公司联 合举办的"资本聚三湘 楚光耀新程——2025 年湖南辖区上市公司投资者网上 集体接待日暨半年度业绩说明会"活动，现将相关事项公告如下： 本次活动将采用网络远程的方式举行，投资者可登录"全景路演"网站 （https://rs.p5w.net），或关注微信公众号：全景财经，或下载全景路演 APP，参 与本次互动交流，活动时间为 2025 年 9 月 19 日（星期五）14:00-17:00。届时公 司高管将在线就公司 2024 年至 2025 半年度业绩、公司治理、发展战略、经营状 况、融资计划、股权激励和可持续发展等投资者关心的问题，与投资者进行沟通 与交流，欢迎广大投资者踊跃参与。 特此公告。 唐人神集团股份有限公司董事会 二〇二五年九月十二日 证券代码：002567 证券简称：唐人神 公告编号：2025-084 唐人神集团股份有限公司 关于参加2025年湖南辖区上市公司投资者网上 集体接待日暨半年度业绩说明会活动的公告 本公司及董事会全体成员保证信息披露的内容真实、准 ...