Investment Rating - The industry investment rating is "Positive" (maintained) [1] Core Views - The demand for meat chickens is entering a peak season, providing price support, while egg prices are declining, leading to accelerated culling of laying hens [8] - The report highlights the performance of various poultry segments, including white feathered chickens, yellow feathered chickens, and laying hens, with specific price trends and inventory changes [13][23][31] Summary by Sections 1. White Feathered Chickens - The average sales price for white feathered meat chickens in October 2025 was 6.93 yuan/kg, with a slight decrease of 0.06 yuan/kg month-on-month. The breeding loss was 1.78 yuan per bird, continuing a trend of losses [13] - The price of white feathered chicken seedlings rose to 3.39 yuan each, an increase of 0.58 yuan month-on-month, indicating positive stocking activity ahead of the peak demand season [14] - The total inventory of white feathered grandparent stock was 2.0209 million sets, down 1.30% month-on-month, with a decrease in both breeding and backup stock [14] 2. Yellow Feathered Chickens - The average sales price for medium-speed yellow feathered chickens in October was 12.86 yuan/kg, with a slight decrease of 0.03% month-on-month. The demand is supporting price stability [23] - The sales volume of parent yellow feathered chicken seedlings increased by 8.87% month-on-month, while the total inventory of yellow feathered grandparent stock decreased by 2.65% [23] 3. Laying Hens - The average price of laying hen seedlings was 2.80 yuan each, up 7.69% month-on-month, while the wholesale price of eggs dropped to 5.72 yuan/kg, down 20.11% month-on-month [31] - The profit from laying hen farming was -24.44 yuan per bird, a decrease of 26.56 yuan month-on-month, indicating pressure on profitability due to high inventory levels and low egg prices [31] 4. Sales and Revenue Trends - In October, the sales volume of chicken products showed mixed results, with some companies experiencing declines in sales volume but increases in revenue due to higher average prices [43][49] - For example, Xiantan Co. reported a chicken sales volume of 52,900 tons, down 1.37% month-on-month, but an increase in sales revenue to 456 million yuan, up 4.05% month-on-month [43]

证券之星消息，11月13日养殖业板块较上一交易日上涨0.62%，华英农业领涨。当日上证指数报收于 4029.5，上涨0.73%。深证成指报收于13476.52，上涨1.78%。养殖业板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 002321 | 华英农业 | 3.23 | 3.86% | 85.63万 | 2.72亿 | | 301116 | 益客食品 | 11.78 | 2.08% | 6.24万 | 7277.36万 | | 300761 | 立华股份 | 21.83 | 1.87% | 7.31万 | 1.58亿 | | 603717 | 天域生物 | 9.80 | 1.34% | 17.06万 | 1.68亿 | | 600965 | 福成股份 | 5.76 | 1.05% | 19.88万 | 1.14亿 | | 000735 | 罗牛山 | 8.23 | 0.98% | 59.17万 | 4.89亿 | | 002746 | 仙坛股份 | 6.65 | 0.9 ...

Core Insights - Xiangjia Co., Ltd. reported its live poultry sales for October 2025, indicating a total of 3.8902 million birds sold, generating revenue of 93.9523 million yuan, with an average selling price of 11.34 yuan per kilogram [1] Sales Performance - The sales volume of live poultry decreased by 0.69% month-on-month and by 10.36% year-on-year [1] - The sales revenue experienced a month-on-month decline of 2.76% and a year-on-year decrease of 2.50% [1] - The average selling price per kilogram saw a month-on-month drop of 6.29% but an increase of 3.35% year-on-year [1]

Core Insights - The aquaculture sector experienced a slight increase of 0.31% on November 7, with Tianyu Biological leading the gains [1] - The Shanghai Composite Index closed at 3997.56, down 0.25%, while the Shenzhen Component Index closed at 13404.06, down 0.36% [1] Aquaculture Sector Performance - Tianyu Biological (603717) closed at 9.46, up 3.05% with a trading volume of 169,600 shares and a turnover of 160 million yuan [1] - Other notable performers included: - Luoniushan (000735) at 8.12, up 2.40% with a volume of 1,088,900 shares [1] - Zhengbang Technology (002157) at 66.7, up 1.36% with a volume of 1,212,200 shares [1] - Muyuans (002714) at 49.71, up 0.93% with a volume of 285,500 shares [1] Capital Flow Analysis - The aquaculture sector saw a net inflow of 223 million yuan from institutional investors, while retail investors experienced a net outflow of 11.04 million yuan [2] - Key stocks with significant capital flow included: - Muyuan (002714) with a net inflow of 214 million yuan from institutional investors [3] - Jingji Zhino (000048) with a net inflow of 50.59 million yuan from institutional investors [3] - Zhengbang Technology (002157) with a net inflow of 24.48 million yuan from institutional investors [3]

Core Insights - Xiangjia Co., Ltd. (002982.SZ) reported sales of live poultry reaching 3.8902 million units in October 2025, generating a revenue of 93.9523 million yuan [1] - The average selling price was 11.34 yuan per kilogram, with month-on-month changes of -0.69% for sales volume, -2.76% for revenue, and -6.29% for average price [1] - Year-on-year changes showed a decline of 10.36% in sales volume, a decrease of 2.50% in revenue, while the average price increased by 3.35% [1] Sales Performance - Total sales volume of live poultry in October 2025 was 3.8902 million units [1] - Revenue from sales amounted to 93.9523 million yuan [1] - Average selling price per kilogram was recorded at 11.34 yuan [1] Month-on-Month Changes - Sales volume decreased by 0.69% compared to the previous month [1] - Revenue saw a decline of 2.76% month-on-month [1] - Average selling price dropped by 6.29% from the previous month [1] Year-on-Year Changes - Sales volume experienced a significant decline of 10.36% compared to the same month last year [1] - Revenue decreased by 2.50% year-on-year [1] - Average selling price increased by 3.35% compared to the previous year [1]

Core Insights - The company reported sales of live poultry amounting to 3.8902 million heads in October 2025, generating a revenue of 93.9523 million yuan [1] - The average selling price was 11.34 yuan per kilogram, with month-on-month changes of -0.69% in sales volume, -2.76% in revenue, and -6.29% in average price [1] - Year-on-year changes showed a decline of 10.36% in sales volume, a decrease of 2.50% in revenue, and an increase of 3.35% in average price [1] Sales Performance - Total sales volume for October 2025 was 3.8902 million heads [1] - Revenue for the same period reached 93.9523 million yuan [1] - Average selling price per kilogram was reported at 11.34 yuan [1] Month-on-Month Changes - Sales volume decreased by 0.69% compared to the previous month [1] - Revenue saw a decline of 2.76% month-on-month [1] - Average selling price dropped by 6.29% compared to the previous month [1] Year-on-Year Changes - Sales volume experienced a significant decline of 10.36% compared to the same month last year [1] - Revenue decreased by 2.50% year-on-year [1] - Average selling price increased by 3.35% compared to the same month last year [1]

Core Insights - Xiangjia Co., Ltd. (002982.SZ) reported its live poultry sales for October 2025, with a total of 3.8902 million birds sold, generating a revenue of 93.9523 million yuan [1] Sales Performance - The average selling price for live poultry was 11.34 yuan per kilogram [1] - Month-on-month changes in sales volume, revenue, and average price were -0.69%, -2.76%, and -6.29% respectively [1] - Year-on-year changes in sales volume, revenue, and average price were -10.36%, -2.50%, and 3.35% respectively [1]

Core Insights - The company Xiangjia Co., Ltd. (002982.SZ) reported its live poultry sales for October 2025, indicating a total sale of 3.8902 million birds, generating a revenue of 93.9523 million yuan [1] Sales Performance - The sales volume of live poultry decreased by 0.69% month-on-month [1] - The sales revenue experienced a month-on-month decline of 2.76% [1] - The average selling price per kilogram of live poultry fell by 6.29% compared to the previous month, standing at 11.34 yuan/kg [1] Year-on-Year Comparison - Year-on-year, the sales volume decreased by 10.36% [1] - The sales revenue showed a slight decline of 2.50% compared to the same month last year [1] - However, the average selling price increased by 3.35% year-on-year [1]

湖南湘佳牧业股份有限公司 注：若存在尾差，属四舍五入原因所致。 | 证券代码：002982 | 证券简称：湘佳股份 | 公告编号：2025-064 | | --- | --- | --- | | 债券代码：127060 | 债券简称：湘佳转债 | | 月份 活禽销量（万只） 销售收入（万元） 活禽销售均价 （元/公斤） 当月 当年累计 当月 当年累计 2024 年 10 月 433.98 3,712.18 9,635.74 81,057.47 10.97 2024 年 11 月 385.06 4,097.24 8,200.65 89,258.12 10.54 2024 年 12 月 430.69 4,527.93 8,679.85 97,937.97 9.60 2025 年 1 月 398.70 398.70 8,182.74 8,182.74 9.70 2025 年 2 月 384.00 782.70 7,151.50 15,334.24 8.72 2025 年 3 月 377.73 1,160.43 7,165.81 22,500.05 9.38 2025 年 4 月 443.67 1,604.10 8, ...

Core Insights - The company Xiangjia Co., Ltd. (002982) reported sales of live poultry amounting to 3.8902 million birds in October 2025, generating a revenue of 93.9523 million yuan [1] - The average selling price was 11.34 yuan per kilogram, with month-on-month changes of -0.69% in sales volume, -2.76% in revenue, and -6.29% in average price [1] - Year-on-year changes showed a decrease of 10.36% in sales volume, a decrease of 2.50% in revenue, and an increase of 3.35% in average price [1] Summary by Category - **Sales Volume** - October 2025 sales volume was 3.8902 million birds [1] - Month-on-month change: -0.69% [1] - Year-on-year change: -10.36% [1] - **Revenue** - Total revenue for October 2025 was 93.9523 million yuan [1] - Month-on-month change: -2.76% [1] - Year-on-year change: -2.50% [1] - **Average Selling Price** - Average selling price was 11.34 yuan per kilogram [1] - Month-on-month change: -6.29% [1] - Year-on-year change: +3.35% [1]