证券代码：002567 证券简称：唐人神 公告编号：2026-007 唐人神集团股份有限公司 关于收到中国银行间市场交易商协会 《接受注册通知书》的公告 根据《接受注册通知书》（中市协注〔2026〕SCP24 号），公司本次超短期融 资券注册金额为 5 亿元，注册额度自通知书落款之日起 2 年内有效，由长沙银行 股份有限公司主承销。 公司在注册有效期内可分期发行科技创新债券，接受注册后如需备案发行， 应事前先向交易商协会备案。公司应按照有权机构决议及相关管理要求，进行发 行管理。发行完成后，应通过交易商协会认可的途径披露发行结果。 二、中期票据 根据《接受注册通知书》（中市协注〔2026〕MTN59 号），公司本次中期票据 注册金额为 5 亿元，注册额度自通知书落款之日起 2 年内有效，由长沙银行股份 有限公司主承销。 公司在注册有效期内可分期发行科技创新债券，接受注册后如需备案发行， 应事前先向交易商协会备案。公司应按照有权机构决议及相关管理要求，进行发 行管理。发行完成后，应通过交易商协会认可的途径披露发行结果。 公司将根据上述通知要求，按照《非金融企业债务融资工具注册发行规则》 《非金融企业债务融资工具 ...

1月23日，唐人神大宗交易成交122.93万股，成交额516.31万元，占当日总成交额的4.94%，成交价4.2 元，较市场收盘价4.29元折价2.1%。 | 交易日期 | 证券代码 | 证券简称 | 成交价格 | 成交量 | 成交金额 | 买方营业部 | 卖方营业部 | | --- | --- | --- | --- | --- | --- | --- | --- | | | | | (元) | (万股/万份) | (万元) | | | | 2026-01-23 | 002567 | 唐人神 | 4.20 | 122.93 | 516.31 | 中信建投证券股份 | 招商证券股份有限 | | | | | | | | 有限公司北京东城 | 公司长沙美蓉中路 | | | | | | | | 分公司 | 证券营业部 | ...

Group 1 - The feed sector experienced a decline of 0.29% on January 23, with Zhongchong Co., Ltd. leading the drop [1] - The Shanghai Composite Index closed at 4136.16, up 0.33%, while the Shenzhen Component Index closed at 14439.66, up 0.79% [1] - Key stocks in the feed sector showed varied performance, with Tianma Technology rising by 2.94% to a closing price of 16.13, while Zhongchong Co., Ltd. fell by 1.55% to 49.52 [2] Group 2 - The feed sector saw a net outflow of 70.64 million yuan from institutional investors, while retail investors had a net inflow of 90.51 million yuan [2] - The trading volume and turnover for major stocks in the feed sector varied, with major stocks like Tianma Technology and Haida Group showing significant trading activity [3] - The net inflow and outflow of funds for specific stocks indicated a mixed sentiment among investors, with some stocks like Haida Group experiencing a net inflow of 13.67 million yuan from institutional investors [3]

Core Insights - In December 2025, 16 major pig farming companies in China achieved a total sales volume of 17.72 million pigs, marking a year-on-year increase of 3.51% and a month-on-month increase of 7.15% [1][5][6] - The total revenue for these companies in December was 22.104 billion yuan, reflecting a year-on-year decline of 26.85% but a month-on-month increase of 4.87% [1][5][11] Sales Volume Analysis - The leading company, Muyuan Foods, sold 6.98 million pigs in December, while Wens Foodstuffs and New Hope reported sales of over 1.8 million pigs each [1][6] - Jin Xin Nong and Zhengbang Technology experienced significant sales growth, with increases exceeding 70% year-on-year, while four companies, including Muyuan Foods and Tangrenshen, saw declines of over 10% [1][6][10] Revenue Analysis - The revenue figures for December showed that Jin Xin Nong and Zhengbang Technology had revenue growth rates exceeding 20%, while four companies, including Zhenghong Technology and Tiankang Biological, reported revenue declines of over 30% [1][11] - Muyuan Foods generated 9.667 billion yuan in revenue for December, down 36.06% year-on-year, while Wens Foodstuffs and New Hope also reported declines of 11.38% and 10.75%, respectively [10][12] Price Trends - The average transaction price for pigs in the national market fluctuated around 15 yuan per kilogram in early 2025, dropping to a low of 11.05 yuan per kilogram in the latter half of the year [2]

Group 1 - The stock of Tangrenshen experienced a decline of 1.14%, closing at 4.32 yuan on January 21 [1] - A significant block trade occurred, with a total volume of 1 million shares and a transaction amount of 4.23 million yuan, reflecting a premium rate of -2.08% [1] - The buyer was CITIC Securities Co., Ltd. Beijing Dongcheng Branch, while the seller was China Merchants Securities Co., Ltd. Changsha Furong Middle Road Securities Branch [1] Group 2 - Over the past three months, Tangrenshen has recorded 15 block trades, with a total transaction amount of 63.82 million yuan [1] - In the last five trading days, the stock has seen a cumulative decline of 2.04%, with a net outflow of main funds amounting to 93.03 million yuan [1]

| 交易日期 | 证券代码 | 证券简称 | 成交价格 | 成交量 | 成交金额 | 买方营业部 | 卖方营业部 | | --- | --- | --- | --- | --- | --- | --- | --- | | | | | (元) | (万股/万份) | (万元) | | | | 2026-01-21 | 002567 | 唐人神 | 4.23 | 100.00 | 423.00 | 中信建投证券股份 | 招商证券股份有限 | | | | | | | | 有限公司北京东城 | 公司长沙芙蓉中路 | | | | | | | | 分公司 | 证券营业部 | 1月21日，唐人神大宗交易成交100万股，成交额423万元，占当日总成交额的2.18%，成交价4.23元，较市场收盘价4.32元折 价2.08%。 ...

Market Overview - The feed sector experienced a decline of 0.69% on January 21, with Aonong Biological leading the drop [1] - The Shanghai Composite Index closed at 4116.94, up 0.08%, while the Shenzhen Component Index closed at 14255.12, up 0.7% [1] Individual Stock Performance - Jin Xin Nong (002548) closed at 6.56, up 2.34% with a trading volume of 399,800 shares and a transaction value of 261 million [1] - Petty Holdings (300673) closed at 19.46, up 1.62% with a trading volume of 82,200 shares and a transaction value of 159 million [1] - Aonong Biological (603363) closed at 4.27, down 1.84% with a trading volume of 430,600 shares and a transaction value of 184 million [2] - Other notable declines include Tian Kang Biological (002100) down 1.26% and Hai Da Group (002311) down 1.17% [2] Capital Flow Analysis - The feed sector saw a net outflow of 95.94 million from institutional investors, while retail investors had a net inflow of 63.31 million [2] - The capital flow for individual stocks shows Jin Xin Nong with a net inflow of 21.61 million from institutional investors, while Aonong Biological had a net outflow of 1.32 million [3] - Petty Holdings experienced a net outflow of 1.99 million from institutional investors but a net inflow of 6.27 million from retail investors [3]

Core Viewpoint - The report from GF Securities indicates a significant increase in the total output of market pigs by listed companies in 2025, with a year-on-year growth of 25% to 111.53 million heads, and a 30% increase to 90.39 million heads when excluding Muyuan Foods [1][3]. Group 1: Market Output - In December 2025, the total output of market pigs from listed companies reached 19.05 million heads, reflecting a month-on-month increase of 7.1% and a year-on-year increase of 11.3% [2]. - The output of market pigs from listed companies, excluding Muyuan Foods, was 12.07 million heads in December, with a month-on-month growth of 8.0% and a year-on-year growth of 35.7% [2][3]. - Major companies such as Muyuan Foods, Wens Foodstuff Group, New Hope Liuhe, and Dekang Agriculture showed varying month-on-month growth rates in December, with increases of 5.7%, 4.8%, 15.4%, and 4.1% respectively [3]. Group 2: Piglet Sales and Prices - The overall sales volume of piglets from listed companies saw a significant increase in 2025, with a notable rise in the proportion of piglet sales [2][4]. - The price of 7 kg piglets has rebounded to 307 RMB per head, attributed to the upcoming replenishment season and positive market sentiment regarding pig prices in the second half of 2026 [1][5]. - The average selling price of pigs in December was estimated at 11.53 RMB per kilogram, showing a month-on-month decline of 1.4% [4]. Group 3: Company Performance - In 2025, major companies reported the following cumulative outputs: Muyuan Foods at 77.98 million heads (+19%), Wens Foodstuff Group at 40.48 million heads (+34%), New Hope Liuhe at 17.55 million heads (+6%), and Dekang Agriculture at 10.83 million heads (+23%) [3]. - Smaller companies like Tangrenshen, Tiankang Biological, Shennong Group, and Juxing Agriculture also reported varying outputs, with Tangrenshen showing a year-on-year increase of 23% [3]. Group 4: Industry Outlook - The industry is currently facing cumulative losses, which may lead to continued reduction in pig production capacity [1][5]. - The breeding sow inventory decreased by 0.22% month-on-month in December, indicating potential challenges in production [5].

| 交易日期 | 证券代码 | 证券简称 | 成交价格 (元) | 成交量 | 成交金额 (万元) | 买方营业部 | 卖方营业部 | | --- | --- | --- | --- | --- | --- | --- | --- | | | | | | (万股/万份) | | | | | 2026-01-19 | 002567 | 唐人神 | 4.28 | 100.00 | 428.00 | 中信建投证券股份 | 招商证券股份有限 | | | | | | | | 有限公司北京东城 | 公司长沙美蓉中路 | | | | | | | | 分公司 | 证券营业部 | 1月19日，唐人神大宗交易成交100万股，成交额428万元，占当日总成交额的5.05%，成交价4.28元，较 市场收盘价4.37元折价2.06%。 | 权益类证券大宗交易(协议交易) | | --- | ...

| 交易日期 | 证券代码 | 证券简称 | 成交价格 | 成交量 | 成交金额 (万元) | 买方营业部 | 卖方营业部 | | --- | --- | --- | --- | --- | --- | --- | --- | | | | | (元) | (万股/万份) | | | | | 2026-01-16 | 002567 | 唐人神 | 4.27 | 100.00 | 427.00 | 中信建投证券股份 | 招商证券股份有限 | | | | | | | | 有限公司北京东城 | 公司长沙芙蓉中路 | | | | | | | | 分公司 | 证券营业部 | 1月16日，唐人神大宗交易成交100万股，成交额427万元，占当日总成交额的4.03%，成交价4.27元，较市场收盘价4.36元折 价2.06%。 ...