Core Viewpoint - Muyuan Foods Co., Ltd. has officially listed on the Hong Kong Stock Exchange, becoming the first company in China's pig farming industry to achieve a dual listing in both A-share and H-share markets, reflecting strong global capital market recognition of leading Chinese pig farming enterprises [1] Group 1: Listing and Market Response - The IPO could raise up to HKD 120.38 billion if the over-allotment option is fully exercised, marking it as the largest agricultural IPO globally in 2026 and one of the largest in recent years in the Hong Kong agricultural sector [1] - The listing ceremony highlighted the company's commitment to internationalization and innovation, aiming to enhance the pork industry and contribute to a better quality of life for the public [4] - The H-share issuance received strong interest from global investors, with both public and international offerings being oversubscribed, indicating confidence in the company's ability to navigate industry cycles and its long-term growth potential [4][5] Group 2: Investor Base and Financial Structure - A robust cornerstone investor group subscribed for approximately HKD 53.42 billion, accounting for 50% of the global offering, which will stabilize the company's post-listing equity structure [5] - Key cornerstone investors include major international industry leaders and top asset management firms, with Charoen Pokphand Group leading with a subscription of USD 200 million, enhancing Muyuan's overseas market expansion efforts [5] Group 3: Fund Utilization and Strategic Focus - The global offering involved a base issuance of 274 million shares at an issue price of HKD 39.0 per share, reflecting the market's recognition of the company's value [6] - 60% of the raised funds, approximately HKD 62.76 billion, will be allocated to expanding overseas operations, particularly in Southeast Asia, to enhance the global supply chain and pursue acquisitions [7] - 30% of the funds, around HKD 31.38 billion, will focus on technological research and development across the entire industry chain, reinforcing the company's technological leadership [7] - 10% of the funds, about HKD 10.46 billion, will support operational liquidity for daily business activities [7] Group 4: Financial Performance and Cost Management - In 2025, Muyuan is projected to sell 77.98 million pigs and achieve a net profit of between RMB 14.7 billion and RMB 15.7 billion, demonstrating strong profitability despite market fluctuations [8] - The company has optimized its cost structure, with the total cost of pig farming around RMB 12 per kilogram, dropping to approximately RMB 11.6 per kilogram in December, showcasing industry-leading cost control capabilities [8] - As of the end of Q3 2025, Muyuan's total assets reached RMB 180.756 billion, with shareholder equity of RMB 80.44 billion, indicating a solid financial structure and strong risk resilience [8] Group 5: Future Outlook - The successful listing on the Hong Kong Stock Exchange marks a new chapter in Muyuan's international development, leveraging Hong Kong's financial platform to support global expansion [9] - The company aims to drive production through technological innovation, enhancing profitability and international brand influence, contributing to China's transition from a major pig farming country to a strong one [9]

Group 1 - The A-share market opened lower on February 6, 2026, with the major consumption index down by 1.06% as of 10:08 AM, indicating mixed performance among constituent stocks [1] - The food and beverage industry is showing a recovery trend, particularly in the liquor sector, driven by macro policy optimization, low valuation levels, and improvements in leading companies' fundamentals [1] - Optimized real estate policies and intensive domestic demand support measures have boosted market expectations for a recovery in consumer scenarios [1] Group 2 - The top ten weighted stocks in the major consumption index as of January 30, 2026, include Kweichow Moutai, Wuliangye, Yili, Muyuan Foods, Luzhou Laojiao, Shanxi Fenjiu, Wens Foodstuff, Haitian Flavoring, Dongpeng Beverage, and Haida Group, collectively accounting for 67.37% of the index [1] - The consumption ETF managed by Harvest (512600) tracks the major consumption index, which encompasses leading consumer stocks across various sectors, with liquor being the largest sector, accounting for over 38% of the index [2] - Investors can also access the consumption recovery trend through the consumption ETF linked fund (009180) [3]

雷递网 雷建平 2月6日 牧原食品股份有限公司（简称："牧原股份"，股票代码："2714"）今日在港交所上市。 牧原股份此次发售2.74亿股，发行价39港元，募资总额106.86亿港元；扣非发行应付上市费用2.14亿港元，募资净额为104.7亿港元。 牧原股份基石投资者分别为Charoen Pokphand Foods、丰益、中化香港、香港豫农国际、富达基金、加皇环球资产管理（亚洲）有限公司、Perseverance Asset Management、上海高毅及华泰资本投资（与高毅场外掉期有关）、平安人寿保险、大家人寿、UBS AM Singapore、美的发展控股BVI、 Millennium、Jane Street，一共认购6.85亿美元。 | | | | 假設超額配股權 | | 假設超額配股權 | | | --- | --- | --- | --- | --- | --- | --- | | | | | 未獲行使 | | 獲悉數行使 | | | | | 將予認購的 | 佔發售 | 佔已發行 | 佔發售 | 佔已發行 | | | | 發售股份 | 股份概約 | 股本概約 | 股份概約 | 股本概約 | | ...

招股书显示，牧原股份为生猪养殖行业的领导者，采取的垂直一体化商业模式已覆盖生猪育种、生猪养 殖、饲料生产、屠宰肉食的生猪全产业链条。根据弗若斯特沙利文统计，自2021年起，按生猪产能及出 栏量计量，公司是全球第一大生猪养殖企业，生猪出栏量连续四年全球第一。按生猪出栏量计算，公司 的全球市场份额从2021年的2.6%增长到2024年的5.6%，于2024年已经超过第二至第四的市场参与者的 合计市场份额数。 在继续夯实生猪养殖的领先地位的同时，公司自2019年开始进军生猪屠宰肉食业务，以增强公司全产业 链运营的优势。根据弗若斯特沙利文统计，按屠宰头数计量，公司于2024年的屠宰与肉食业务位列全球 第五、中国第一。按照收入计量，2021年至2024年间，公司的屠宰肉食业务的收入复合年均增长率居于 中国大型同行业企业之首。 牧原股份（002714）(02714)首挂上市，公告显示，每股定价39港元，共发行2.74亿股份，每手100股， 所得款项净额约104.704亿港元。截至发稿，无涨跌，报39港元，成交额4.69亿港元。 ...

在继续夯实生猪养殖的领先地位的同时，公司自2019年开始进军生猪屠宰肉食业务，以增强公司全产业 链运营的优势。根据弗若斯特沙利文统计，按屠宰头数计量，公司于2024年的屠宰与肉食业务位列全球 第五、中国第一。按照收入计量，2021年至2024年间，公司的屠宰肉食业务的收入复合年均增长率居于 中国大型同行业企业之首。 智通财经APP获悉，牧原股份(02714)首挂上市，公告显示，每股定价39港元，共发行2.74亿股份，每手 100股，所得款项净额约104.704亿港元。截至发稿，无涨跌，报39港元，成交额4.69亿港元。 招股书显示，牧原股份为生猪养殖行业的领导者，采取的垂直一体化商业模式已覆盖生猪育种、生猪养 殖、饲料生产、屠宰肉食的生猪全产业链条。根据弗若斯特沙利文统计，自2021年起，按生猪产能及出 栏量计量，公司是全球第一大生猪养殖企业，生猪出栏量连续四年全球第一。按生猪出栏量计算，公司 的全球市场份额从2021年的2.6%增长到2024年的5.6%，于2024年已经超过第二至第四的市场参与者的 合计市场份额数。 ...

智通财经APP获悉，牧原股份(02714)首挂上市，公告显示，每股定价39港元，共发行2.74亿股份，每手 100股，所得款项净额约104.704亿港元。截至发稿，无涨跌，报39港元，成交额4.69亿港元。 招股书显示，牧原股份为生猪养殖行业的领导者，采取的垂直一体化商业模式已覆盖生猪育种、生猪养 殖、饲料生产、屠宰肉食的生猪全产业链条。根据弗若斯特沙利文统计，自2021年起，按生猪产能及出 栏量计量，公司是全球第一大生猪养殖企业，生猪出栏量连续四年全球第一。按生猪出栏量计算，公司 的全球市场份额从2021年的2.6%增长到2024年的5.6%，于2024年已经超过第二至第四的市场参与者的 合计市场份额数。 在继续夯实生猪养殖的领先地位的同时，公司自2019年开始进军生猪屠宰肉食业务，以增强公司全产业 链运营的优势。根据弗若斯特沙利文统计，按屠宰头数计量，公司于2024年的屠宰与肉食业务位列全球 第五、中国第一。按照收入计量，2021年至2024年间，公司的屠宰肉食业务的收入复合年均增长率居于 中国大型同行业企业之首。 ...

Industry News - The Ministry of Industry and Information Technology and seven other departments issued the "Implementation Plan for High-Quality Development of Traditional Chinese Medicine Industry (2026-2030)", aiming to establish a collaborative development system for the entire industry chain by 2030, promote the approval of innovative Chinese medicine drugs, cultivate 10 major traditional Chinese medicine products, and facilitate the transformation of Chinese medicine preparations in medical institutions into innovative drugs [20]. - Eleven departments jointly issued the "Implementation Opinions on Enhancing Digital Service Convenience for Foreign Personnel Entering the Country", proposing significant improvements in the internationalization and convenience of digital services by 2027, with a focus on streamlining digital applications in residence, healthcare, payment, tourism, and public services [20]. - Infineon Technologies announced a price increase for power switches and related chips due to ongoing supply shortages and rising costs of raw materials and infrastructure, effective April 1, 2026 [20]. - BASF announced an 11% price increase for TDI products in the Asia-Pacific region (excluding mainland China), with 24% of global TDI production capacity undergoing maintenance in January 2026, leading to a growing supply gap in overseas markets [22]. - Major PC manufacturers, including HP, Dell, Acer, and Asus, are considering sourcing memory chips from manufacturers in mainland China due to supply constraints threatening production and increasing costs across the tech industry [22]. Company News - GCL-Poly announced that it has not yet received any orders in the "space photovoltaic" sector [23]. - NewEase Technology indicated that the revenue share of its 1.6T related optical module products is expected to increase further in 2026 [24]. - Meituan announced plans to acquire Dingdong for $717 million [25]. - Tianqi Mould announced plans to purchase equity in Dongshi Co., leading to a stock suspension [26]. - Bolee announced that its actual controller, Ma Xuejun, is under investigation by the Securities Regulatory Commission for alleged market manipulation [27]. - Guoxuan High-Tech announced plans to raise no more than 5 billion yuan through a private placement for a 20GWh power battery project [28]. - ST Cube announced a cumulative increase of 314.93% in stock price from January 20 to February 5, leading to a stock suspension for verification [29]. - NIO expects to record an adjusted operating profit of 700 million to 1.2 billion yuan in the fourth quarter of 2025, marking the company's first quarterly adjusted operating profit [29]. - Muyuan Foods reported a sales revenue of 10.566 billion yuan for January 2026, reflecting a year-on-year decrease of 11.93% [30].

Group 1 - U.S. stock indices fell over 1.2%, with AMD and Qualcomm dropping more than 8%, while the Chinese concept index rose by 0.9% [1] - Bitcoin dropped below $65,000 [1] - Silver prices plummeted by 19.5%, and gold fell by 4% [1] - U.S. crude oil futures closed down over 2.8%, at $63.29 per barrel [1] - UBS and Goldman Sachs warned about volatility and liquidity issues in the silver market [1] - HP and Dell are reportedly researching the use of mainland China's memory chips [1] - South Korean stocks fell by 3.86%, with foreign investors recording a record high net sell-off [1] - JPMorgan stated that strong demand from central banks could push gold prices to $6,300 per ounce by the end of 2026 [1] - In January, the number of layoffs by Challenger companies in the U.S. rose to 108,000, the highest for the same period since 2009 [1] - Nvidia delayed the release of new gaming chips due to a shortage of memory chips [1] - Amazon's stock dropped by 11% after hours, with expected annual capital expenditures of approximately $200 billion [1] Group 2 - Meituan plans to acquire Dingdong for $717 million [2] - Multiple foreign institutions continue to increase their investment willingness in China [2] - China Telecom and China Unicom have initiated trial commercial use of Beidou SMS [2] - AUX announced a price increase of 6%-10% for all central air conditioning products starting March 1 [2] - Hong Kong Stock Exchange reported that the amount raised from IPOs in January was HKD 39.3 billion, a year-on-year increase of 555% [2] - The silicon industry association indicated that the silicon wafer market is expected to remain stable due to adjustments in battery production and expectations of declining silicon prices [2] - NIO expects adjusted operating profit to be between 700 million and 1.2 billion yuan in Q4 2025 [2] - The Bank of England maintained its current policy as expected [2] - Muyuan Foods saw a 1.9% increase in dark trading, earning HKD 74 per lot [2] - Dazhu CNC experienced a 21.71% increase in dark trading, earning HKD 2,080 per lot [2] Group 3 - Hong Kong stocks of Zhuozheng Medical, Dazhu CNC, and Muyuan Foods were listed [3] - Significant accumulation of Tencent shares occurred, with southbound funds net buying a total of HKD 11 billion over four consecutive days [3] - Announcement highlights include Revotek planning a 1 billion yuan investment in a synthetic biology manufacturing project in Xinjiang, and GCL-Poly has not yet received relevant orders in the "space photovoltaic" sector [3] - In A-shares, Beiliang's major shareholder Ma Xuejun is under investigation by the CSRC for alleged market manipulation [3]

格隆汇2月6日｜今日卓正医疗(2677.HK)、大族数控(3200.HK)、牧原股份(2714.HK)上市，海致科技集 团(2706.HK)、沃尔核材(9981.HK)、先导智能(0470.HK)申购。 ...

登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：002714 证券简称：牧原股份 公告编号：2026-012 债券代码：127045 债券简称：牧原转债 牧原食品股份有限公司 2026年1月份销售简报 本公司及董事会全体成员保证信息披露内容的真实、准确、完整，没有虚假记载、误导性陈述或重大遗 漏。 一、2026年1月份销售情况简报 2026年1月份，公司销售商品猪700.9万头，同比变动2.73%（其中向全资子公司牧原肉食品有限公司及 其子公司合计销售商品猪311.6万头）；商品猪销售均价12.57元/公斤，同比变动-16.92%。商品猪销售 收入105.66亿元，同比变动-11.93%。 ■ 注：因四舍五入，以上数据可能存在尾差。 上述销售数据未经审计，与定期报告披露的数据之间可能存在差异，因此上述数据仅作为阶段性数据供 投资者参考。 二、风险提示 （一）生猪市场价格的大幅波动（下降或上升），都可能会对公司的经营业绩产生重大影响。如果未来 生猪市场价格出现大幅下滑，仍然可能造成公司的业绩下滑。敬请广大投资者审慎决策，注意投资风 险。 （二）生猪市场价格变动的风险是整个生猪生产行业的系统风险，对任 ...