证券代码：002910 证券简称：庄园牧场 公告编号：2025-053 一、股票交易异常波动的情况介绍 兰州庄园牧场股份有限公司（以下简称"公司"或"本公司"）（证券简 称：庄园牧场；证券代码：002910）股票交易价格连续两个交易日（2025 年 10 月 9 日、10 月 10 日）收盘价格涨幅偏离值累计超过 20%，根据《深圳证券交易 所交易规则》的相关规定，属于股票交易异常波动的情况。 二、公司关注及核实情况说明 针对公司股票交易异常波动情况，按照相关规定要求，公司董事会对相关 事项进行了核查，现就核实情况说明如下： 1.公司前期所披露的信息不存在需要更正、补充之处； 2.公司未发现近期公共传媒报道了可能或已经对公司股票交易价格产生较 大影响的未公开重大信息； 3.公司近期经营情况正常，内外部经营环境未发生重大变化； 兰州庄园牧场股份有限公司 股票交易异常波动公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 三、是否存在应披露而未披露信息的说明 经公司董事会确认，本公司目前没有任何根据《深圳证券交易所股票上市 规则》等有关规定应予以披露而未披露的事 ...

Market Overview - The Chinese asset market experienced a collective pullback, with the A-share market declining significantly after a strong opening on the first trading day post-holiday. The Shanghai Composite Index fell approximately 1% to below 3900 points, while the ChiNext Index dropped over 5% before slightly narrowing its losses at the close [1] - The total trading volume in the Shanghai and Shenzhen markets decreased by 137.8 billion yuan compared to the previous day, totaling 253.45 billion yuan [1] Sector Performance - The semiconductor sector saw a substantial decline, with companies like Aojie Technology and Dongxin Co. dropping over 10%, and SMIC falling nearly 8% [2][3] - Conversely, resource sectors such as gas, coal, steel, and oil experienced gains, with companies like Dazhong Public Utilities and Hongtong Gas hitting the daily limit up [2][7] - The coal sector is expected to see improved performance in Q3 due to rising coal prices, with potential further increases in Q4 as winter demand rises [8] Semiconductor Sector Insights - Analysts suggest that the recent adjustment in the semiconductor sector is a short-term fluctuation driven by profit-taking, rather than a fundamental shift in the industry's long-term growth prospects. The trend of domestic substitution remains a key focus [3][5] - Domestic wafer fabs are progressively establishing high levels of localization, particularly in advanced storage, with expectations for stable expansion needs through 2025 and rapid growth anticipated by 2026 [5] Brokerage Sector Dynamics - The brokerage sector showed strong performance, with stocks like Guosen Securities reaching their daily limit. The sector's growth is supported by favorable policies, improved market confidence, and a shift towards high-value-added services [9][10] - The current environment is seen as enhancing the brokerage sector's profitability outlook, making it an attractive investment opportunity [10]

Core Insights - The beverage and dairy sector experienced a 2.4% increase on October 10, with Zhuangyuan Pasture leading the gains [1] - The Shanghai Composite Index closed at 3897.03, down 0.94%, while the Shenzhen Component Index closed at 13355.42, down 2.7% [1] Sector Performance - Zhuangyuan Pasture (002910) closed at 11.95, up 10.04% with a trading volume of 259,800 shares and a transaction value of 307 million yuan [1] - Yangyuan Beverage (603156) also saw a significant increase, closing at 34.42, up 10.00% with a trading volume of 377,700 shares and a transaction value of 1.255 billion yuan [1] - Other notable performers included Knight Dairy (920786) with a 3.43% increase, and Xirong Technology (300915) with a 3.42% increase [1] Capital Flow - The beverage and dairy sector saw a net inflow of 341 million yuan from institutional investors, while retail investors experienced a net outflow of 271 million yuan [2] - The main capital inflow and outflow for key companies were detailed, with Yili Group (600887) showing a net inflow of 1.55 billion yuan from institutional investors [3] - Zhuangyuan Pasture had a net inflow of 176 million yuan from institutional investors, while retail investors showed a net outflow of 719,230 yuan [3]

Core Viewpoint - The dairy industry is experiencing a notable change post the "Double Festival" period, with a recovery in milk prices and a general market rebound, although the sustainability of this trend remains uncertain [3][4]. Group 1: Market Performance - After the "Double Festival," dairy stocks, particularly Zhuangyuan Pasture (002910.SZ), saw significant increases, with Zhuangyuan Pasture hitting the daily limit for two consecutive days, indicating a positive market sentiment [3]. - Other dairy companies also experienced gains, with Knight Dairy (920786.BJ) up 4.44% and New Dairy up 5.85%, reflecting a broader upward trend in the sector [3]. Group 2: Financial Performance - Zhuangyuan Pasture reported a revenue of 420 million yuan in the first half of 2023, a year-on-year decrease of 1.3%, while its net profit attributable to shareholders was -30 million yuan, showing a significant year-on-year increase of 68.5% [3]. Group 3: Milk Price Trends - The average purchase price of fresh milk in major production areas rose from 3.02 yuan/kg in August to 3.04 yuan/kg by the end of September, indicating a stabilization in prices [4]. - Prices for scattered milk in Hebei increased from 2.5 yuan/kg to 4.2 yuan/kg before the festivals, while in Ningxia, prices rose from 2.1 yuan/kg to between 3.5 and 3.7 yuan/kg [4]. Group 4: Market Dynamics - Analysts expect that the demand for dairy products will peak during the "Double Festival," leading to a more balanced supply-demand situation, which may ease competition among dairy companies [4]. - However, post-festival, scattered milk prices have begun to decline, with prices in Hebei dropping to 2.8 yuan/kg, suggesting ongoing market pressures [4]. - The dairy market is witnessing increased fragmentation in product sales and regional market dynamics, indicating that the sustainability of the current recovery is still in question [4].

Core Insights - The dairy sector has shown signs of recovery following the "Double Festival" period, with stocks like Zhuangyuan Pasture experiencing significant price increases driven by the broader consumer market trend [2] - The average purchase price of fresh milk in major production areas has stabilized, indicating a potential recovery in supply and demand dynamics within the industry [3] Group 1: Market Performance - Zhuangyuan Pasture (002910.SZ) has seen its stock price hit the daily limit for two consecutive days, contributing to an overall rise in dairy stocks [2] - Other dairy companies, such as Knight Dairy (920786.BJ) and New Dairy, have also reported stock price increases of 4.44% and 5.85%, respectively [2] - The company reported a revenue of 420 million yuan in the first half of 2023, a year-on-year decrease of 1.3%, while its net profit attributable to shareholders was -30 million yuan, reflecting a 68.5% year-on-year increase [2] Group 2: Price Trends - The average price of fresh milk rose from 3.02 yuan/kg in August to 3.04 yuan/kg in late September, indicating a halt in the previous downward trend [3] - Prices for scattered milk have shown significant increases, with reports of prices rising from 2.5 yuan/kg to 4.2 yuan/kg in Hebei, and from 2.1 yuan/kg to between 3.5 and 3.7 yuan/kg in Ningxia [3] Group 3: Market Dynamics - Despite initial price increases, scattered milk prices have begun to decline post-festival, with prices in Hebei dropping to 2.8 yuan/kg, suggesting ongoing market pressures [4] - Analysts note that the rise in milk prices is influenced by both inventory preparations for the festival and ongoing adjustments in production capacity, but the sustainability of market recovery remains uncertain due to increasing fragmentation in dairy product consumption [4]

Group 1: Market Overview - A-shares opened lower and experienced fluctuations, with the Shanghai Composite Index testing the 3900-point support level, while the ChiNext Index fell over 3% below 3200 points [1] - The market saw a stable trading volume, with technology growth stocks undergoing significant adjustments, particularly the STAR Market Index which dropped over 4% [1] Group 2: Food and Beverage Sector - The food and beverage sector showed resilience, with the beverage and dairy segments leading the gains, as the sector index rose over 2% for the fifth consecutive day [2] - Notable performers included Zhuangyuan Pastoral, which hit the daily limit, and Yangyuan Beverage, which also reached the daily limit, alongside other companies like New Dairy and Dongpeng Beverage [2] - The positive sentiment was bolstered by PepsiCo's Q3 earnings report, which revealed revenues of $23.94 billion, slightly above Wall Street's expectations, and an adjusted EPS of $2.29, exceeding the forecast [2] Group 3: Pre-prepared Food Standards - The State Council's Food Safety Committee is prioritizing the establishment of national standards for pre-prepared foods, following recent controversies, which will enhance consumer rights and transparency in the restaurant sector [2] - The draft for the national food safety standards for pre-prepared foods has passed review and is set to be publicly consulted [2] Group 4: Cultivated Diamond Sector - The cultivated diamond sector opened significantly higher, with the sector index rising over 4% to reach a historical high [4] - Key stocks included Huanghe Whirlwind, which hit the daily limit and achieved a new annual high, and Sifangda, which also opened at a 20% limit up [4] - The Ministry of Commerce and the General Administration of Customs announced export controls on various synthetic diamond products, which may impact the sector [4] Group 5: Investment Opportunities - Analysts suggest that the food and beverage industry presents structural investment opportunities driven by policies to boost domestic demand and trends in rational, emotional, and health-oriented consumption [3] - Focus areas for investment include the beverage sector, particularly energy drinks, the snack industry with innovative channels and products, and health products targeting younger consumers [3]

Core Viewpoint - The dairy sector is experiencing a notable change post the "Double Festival," with a recovery in milk prices and a general market rebound, although the sustainability of this trend remains uncertain [2][3]. Group 1: Market Performance - After the "Double Festival," dairy stocks, particularly Zhuangyuan Pasture (002910.SZ), have seen significant gains, with Zhuangyuan Pasture hitting the daily limit for two consecutive days, leading to an overall increase in dairy stocks [2]. - Other dairy companies, such as Knight Dairy (920786.BJ) and New Dairy, also reported increases of 4.44% and 5.85% respectively, with several stocks rising over 2% [2]. Group 2: Company Financials - Zhuangyuan Pasture reported a revenue of 420 million yuan in the first half of 2023, a year-on-year decrease of 1.3%, and a net profit attributable to shareholders of -30 million yuan, which is a 68.5% increase compared to the previous year [2]. Group 3: Industry Trends - The average purchase price of fresh milk in major production areas has stabilized, rising from 3.02 yuan/kg in August to 3.04 yuan/kg in late September [3]. - There has been a significant increase in the price of raw milk before the "Double Festival," with prices for scattered milk rising from 2.5 yuan/kg to 4.2 yuan/kg in Hebei, indicating tight supply [3]. - Despite the initial recovery in milk prices, there are signs of a decline post-festival, with prices in Hebei dropping to 2.8 yuan/kg, suggesting ongoing market pressures [3]. - Analysts note that while there is a temporary increase in demand for dairy products during the festival, the market's recovery and the sustainability of price increases are still under observation due to fragmentation in consumer behavior and regional market disparities [3].

Core Viewpoint - The dairy industry shows signs of recovery following the recent holiday season, with milk prices beginning to rise, although the sustainability of this trend remains uncertain [1][3]. Group 1: Market Performance - Dairy stocks, particularly Zhuangyuan Pasture (002910.SZ), have experienced significant gains, with Zhuangyuan Pasture hitting the daily limit for the second consecutive day, driven by a broader consumer market rally [1]. - Other dairy companies also saw increases, with Knight Dairy (920786.BJ) up 4.44% and New Dairy up 5.85%, while several stocks rose over 2% [1]. Group 2: Financial Performance - Zhuangyuan Pasture reported a revenue of 420 million yuan in the first half of 2023, a year-on-year decrease of 1.3%, and a net profit attributable to shareholders of -30 million yuan, which is a 68.5% increase compared to the previous year [3]. - Major domestic dairy companies have shown signs of bottoming out after two years of decline, with expectations for recovery in the second half of the year [3]. Group 3: Milk Price Trends - The average purchase price of fresh milk in major production areas rose from 3.02 yuan/kg in August to 3.04 yuan/kg in late September, indicating a stabilization in prices [3]. - Prices for spot milk have seen significant increases, with prices in Hebei rising from 2.5 yuan/kg to 4.2 yuan/kg, and in Ningxia from 2.1 yuan/kg to between 3.5 and 3.7 yuan/kg [3]. Group 4: Market Dynamics - Analysts expect that the demand for dairy products will peak during the holiday season, potentially leading to a more balanced supply-demand situation [4]. - However, post-holiday, spot milk prices have begun to decline, with prices in Hebei dropping to 2.8 yuan/kg, indicating ongoing market pressures [4]. - The dairy market is experiencing fragmentation in consumption patterns, which may affect the sustainability of the recovery [4].

Market Overview - A-shares opened lower and experienced fluctuations, with the Shanghai Composite Index testing the 3900-point support level. The tech growth stocks faced significant adjustments, with the Sci-Tech Innovation 50 index dropping over 4% and falling below 1500 points, while the ChiNext index fell over 3% and dropped below 3200 points. Market trading volume remained stable [1]. Sector Performance - The food and beverage, cultivated diamond, cement, and ground weaponry sectors saw the largest gains, while energy metals, semiconductors, photovoltaic equipment, and medical services sectors experienced the largest declines [3]. Food and Beverage Sector - The food and beverage sector showed resilience, with the beverage and dairy segments leading the gains. The sector index surged over 2%, marking its fifth consecutive day of increase. Notable stocks included Zhuangyuan Pasture, which hit the daily limit shortly after opening, and Yangyuan Beverage, which also reached the daily limit. Other significant gainers included New Dairy and Dongpeng Beverage [5][4]. - Other segments within the food sector, such as snack foods, agricultural product processing, prepared dishes, and condiments, also saw upward movement, with companies like Baba Foods and Shuangta Foods leading the gains [7]. - PepsiCo reported third-quarter earnings of $23.94 billion, slightly above Wall Street's expectation of $23.85 billion, with adjusted earnings per share of $2.29, exceeding the anticipated $2.27. This positive news led to a significant increase in Pepsi's stock price, which rose over 4%, marking its largest single-day gain in three months [7]. - The State Council's Food Safety Committee has prioritized the "prepared dishes controversy," leading to the development of national standards for prepared dishes. The draft of the food safety standards, led by the National Health Commission, has passed review and will soon be open for public consultation [7]. - Wanlian Securities suggests that under the influence of policies to boost domestic demand and trends in rational, emotional, and health consumption, there are structural investment opportunities in the food and beverage industry. Key areas of focus include the beverage sector, particularly energy drinks, and snack foods that innovate in channels and categories, as well as health products targeting young consumers [8]. Cultivated Diamond Sector - The cultivated diamond sector opened significantly higher, with the sector index rising over 4% to reach a historical high. Notable stocks included Huanghe Whirlwind, which hit the daily limit and achieved a new annual high, and Sifangda, which also opened at the daily limit price [10]. - The Ministry of Commerce and the General Administration of Customs announced export controls on various superhard material products, including synthetic diamond micro-powder and single crystals, following State Council approval [12].

Market Overview - On October 10, the consumer sector experienced a significant rise, with stocks such as Zhuangyuan Pasture and Lianfa Shares hitting the daily limit [1] - The consumer sector index increased by 0.57%, driven by the commencement of the e-commerce "Double 11" promotional event [2] Event: "Double 11" E-commerce Festival - The annual "Double 11" e-commerce festival began, with JD.com starting sales on October 9, five days earlier than last year, creating a 37-day promotional period [3] - During the National Day and Mid-Autumn Festival holiday, key retail and catering enterprises saw a 2.7% year-on-year increase in sales [3] - The Australian wool auction market has seen record highs, with the Eastern Market Indicator rising by 112 Australian cents per kilogram, marking a 7.7% increase month-on-month and a 41.8% increase year-on-year [3] Institutional Insights - The fourth batch of national subsidy funds totaling 69 billion yuan has been allocated, stimulating consumer demand during the holiday and positively impacting sales in home appliances and consumer electronics [4] - In the cosmetics sector, brands are ramping up promotional activities ahead of "Double 11," with significant investments in subsidies and marketing campaigns expected to boost online sales [4] - Major e-commerce platforms are increasingly integrating AI technologies to enhance shopping experiences and operational efficiencies [5] AI in E-commerce - AI is expected to improve buyer shopping experiences in areas such as product recommendations and price comparisons, while also helping sellers reduce costs and improve management [5] - The tourism sector is anticipated to see sustained demand, with potential government support for service consumption, particularly in travel [5] - The price of Australian wool is in the early stages of an upward trend, presenting strategic opportunities similar to previous high points in 2011 and 2018 [5]