Core Insights - The company reported sales of 111 million meat chickens in July 2025, generating revenue of 2.316 billion yuan, with an average selling price of 9.89 yuan per kilogram [1] - The company sold 11.1027 million white feather chicks in July 2025, with cumulative sales for the year reaching 99.6205 million [1] - The company sold 3.1648 million pigs in July 2025, with revenue of 4.877 billion yuan and an average selling price of 14.58 yuan per kilogram [1] - The increase in pig sales year-on-year is attributed to prior increases in breeding stock and the impact of external sales of piglets [1] Financial Performance - July 2025 meat chicken sales showed a month-on-month change of +6.35% in volume, +1.22% in revenue, and -3.89% in average price, while year-on-year changes were +14.02% in volume, -11.84% in revenue, and -25.08% in average price [1] - For pigs, the month-on-month changes were +5.24% in volume, -0.87% in revenue, and +1.32% in average price, with year-on-year changes of +36.22% in volume, -8.72% in revenue, and -23.06% in average price [1]

Investment Rating - The report maintains an investment rating of "A" for the agriculture sector, suggesting a focus on the recovery cycle of feed and marginal improvements in breeding [1]. Core Insights - The agriculture sector has shown a decline of 2.97% in the past week, with the animal health, food and feed additives, fruit and vegetable processing, aquaculture, and seeds sub-industries performing the best [1][22]. - The report highlights a potential recovery in the feed industry due to the decline in upstream raw material prices and improvements in the breeding sector, particularly for Haida Group, which is expected to see an upward trend in its operational fundamentals [2][4]. - The report emphasizes that the current market may be overly pessimistic about the impact of rising pig production capacity on profitability, while it overlooks the positive effects of declining raw material costs and potential macro demand recovery in 2025 [3]. Summary by Sections Swine Breeding - As of August 1, 2025, the average prices for external three yuan pigs in Sichuan, Guangdong, and Henan were 13.70, 16.04, and 14.38 yuan per kilogram, reflecting increases of 0.74%, 3.22%, and 1.77% respectively [2][31]. - The average pork price was 20.60 yuan per kilogram, down 1.29% from the previous week, while the average wholesale price for piglets was 27.00 yuan per kilogram, up 3.85% [31]. - The report suggests that the swine breeding industry is expected to enter a profitability cycle starting from Q2 2024, although the average debt reduction rate indicates a long road ahead for the industry [3]. Poultry Breeding - The weekly price for white feather broilers was 6.83 yuan per kilogram, up 1.94%, while the price for broiler chicks rose significantly by 33.16% to 2.57 yuan per chick [46]. - The report notes that the breeding profit for broilers is currently negative at -0.43 yuan per chick, and egg prices have decreased by 2.70% to 7.20 yuan per kilogram [46]. Feed Processing - In June 2025, the total industrial feed production in China was 27.67 million tons, a slight decrease of 0.1% month-on-month but a year-on-year increase of 6.6% [55]. - The report indicates that the production of compound feed, concentrated feed, and additive premix feed saw year-on-year growth of 6.6%, 3.4%, and 8.7% respectively [55]. Aquaculture - As of August 1, 2025, the prices for sea cucumbers, shrimp, and bass remained stable at 90.00 yuan per kilogram, 320.00 yuan per kilogram, and 50.00 yuan per kilogram respectively [64]. - In freshwater products, the price for grass carp was 16.70 yuan per kilogram, down 0.30%, while crucian carp saw a slight increase of 0.09% to 22.99 yuan per kilogram [64]. Crop and Grain Processing - As of August 1, 2025, soybean prices were stable at 3926.32 yuan per ton, while corn and wheat prices slightly decreased to 2402.75 yuan and 2440.50 yuan per ton respectively [75]. - The report highlights a significant increase in the price of enoki mushrooms, which rose by 37.78% to 6.20 yuan per kilogram [75].

Group 1 - The company reported sales of 11,094.39 million chickens in July 2025, generating revenue of 2.316 billion yuan, with an average selling price of 9.89 yuan/kg for live chickens. The month-on-month changes were 6.35% for sales volume, 1.22% for revenue, and -3.89% for average price. Year-on-year changes were 14.02% for sales volume, -11.84% for revenue, and -25.08% for average price [1][1][1] - The company sold 1,110.27 million broiler chicks in July 2025, with a cumulative sales of 9,962.05 million broiler chicks for the year [1][1][1] - The company sold 316.48 million pigs in July 2025, including 264.58 million live pigs and 51.90 million piglets, generating revenue of 4.877 billion yuan, with an average selling price of 14.58 yuan/kg for live pigs. Month-on-month changes were 5.24% for sales volume, -0.87% for revenue, and 1.32% for average price. Year-on-year changes were 36.22% for sales volume, -8.72% for revenue, and -23.06% for average price [1][1][1]

Group 1 - The company announced that in July 2025, it sold 111 million meat chickens, generating revenue of 2.316 billion yuan, with an average selling price of 9.89 yuan per kilogram. The month-on-month changes were 6.35% for sales volume, 1.22% for revenue, and -3.89% for average price. Year-on-year changes were 14.02% for sales volume, -11.84% for revenue, and -25.08% for average price [1] - The company sold 11.1027 million white feather chicken seedlings in July 2025 [1] - In terms of live pig sales, the company sold 3.1648 million pigs in July 2025, with revenue of 4.877 billion yuan and an average selling price of 14.58 yuan per kilogram. Month-on-month changes were 5.24% for sales volume, -0.87% for revenue, and 1.32% for average price. Year-on-year changes were 36.22% for sales volume, -8.72% for revenue, and -23.06% for average price [1]

Group 1 - The company reported sales of 110.94 million meat chickens in July 2025, generating revenue of 2.316 billion yuan, with an average selling price of 9.89 yuan per kilogram [1] - The month-on-month changes for meat chicken sales, revenue, and average price were 6.35%, 1.22%, and -3.89% respectively, while year-on-year changes were 14.02%, -11.84%, and -25.08% [1] - The company sold 11.10 million white feather chicken chicks in July 2025, with a cumulative sales of 99.62 million chicks for the year [1] Group 2 - The company sold 3.1648 million live pigs in July 2025, with 2.6458 million being market pigs and 519,000 being piglets, generating revenue of 4.877 billion yuan [1] - The average selling price for market pigs was 14.58 yuan per kilogram, with month-on-month changes of 5.24%, -0.87%, and 1.32%, and year-on-year changes of 36.22%, -8.72%, and -23.06% [1]

温氏食品集团股份有限公司 | 证券代码：300498 | 证券简称：温氏股份 | 公告编号：2025-99 | | --- | --- | --- | | 债券代码：123107 | 债券简称：温氏转债 | | 温氏食品集团股份有限公司 2025年7月主产品销售情况简报 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。 一、2025年7月份鸡产品销售情况 1、温氏食品集团股份有限公司（以下简称"公司"）2025年7 月销售肉鸡11,094.39万只（含毛鸡、鲜品和熟食），收入23.16亿 元，毛鸡销售均价9.89元/公斤，环比变动分别为6.35%、1.22%、 -3.89%，同比变动分别为14.02%、-11.84%、-25.08%。 | | 月份 | | | 肉鸡销量（万只） | | 销售收入（亿元） | 毛鸡价格（元/公斤） | | --- | --- | --- | --- | --- | --- | --- | --- | | | | | 当月 | 当年累计 | 当月 | 当年累计 | 当月 | | 2024 | 年 7 | 月 | 9,730.23 | ...

Group 1 - Trump plans to significantly increase tariffs on pharmaceuticals, with rates potentially reaching up to 250%, and is expected to announce tariffs on drugs and chips next week [2] - The U.S. stock market saw declines across major indices, with the Dow Jones down 0.14%, Nasdaq down 0.65%, and S&P 500 down 0.49%, driven by disappointing earnings outlooks from major tech companies [3][4] - AMD reported a 31% year-over-year decline in adjusted net profit for Q2, with revenue of $7.69 billion, a 32% increase year-over-year, but below expectations [10] - Super Micro Computer's Q4 net sales of $5.76 billion fell short of analyst expectations, leading to a post-earnings drop of over 16% [11] Group 2 - OpenAI and Google have been approved as AI suppliers for the U.S. government, facilitating broader application of AI technologies in federal agencies [12] - Anthropic announced its new model Opus 4.1, achieving a score of 74.5% on a programming evaluation benchmark, indicating significant improvements in programming and data analysis capabilities [14] - UBS has identified potential beneficiaries of "anti-involution" policies in various sectors, including construction materials, healthcare, and insurance [17] Group 3 - TSMC is facing allegations of a potential leak of its 2nm process technology, with regulatory actions taken against involved engineers [19] - The Chinese government has issued guidelines to support new industrialization, emphasizing the importance of preventing "involution" competition and promoting high-quality development in various sectors [22] - China's service sector PMI rose to 52.6 in July, indicating continued expansion and strong new business growth [23]

Group 1 - The company plans to continue developing its chicken farming business, which is a core part of its operations, with a projected sale of 1.208 billion meat chickens in 2024, maintaining the highest market share among listed companies [2] - In 2024, revenue from chicken products is expected to account for 34.1% of the company's total revenue, indicating a strong reliance on this segment [2] - The company has no current plans to enter the pet feed market, despite having chicken and pig feed businesses that could potentially align with pet food production [2]

证券之星消息，根据天眼查APP数据整理，近日，广东温氏电商有限公司成立，法定代表人为秦磊，注 册资本500万元，经营范围包含：一般项目：信息技术咨询服务；技术服务、技术开发、技术咨询、技 术交流、技术转让、技术推广；软件开发；数字文化创意软件开发；互联网销售(除销售需要许可的商 品)；日用杂品销售；供港澳活畜禽经营；畜禽收购；鲜蛋零售；鲜蛋批发；食用农产品批发；食用农 产品零售；食用农产品初加工；畜牧渔业饲料销售；农副产品销售；信息咨询服务(不含许可类信息咨 询服务)。(除依法须经批准的项目外，凭营业执照依法自主开展经营活动)许可项目：互联网信息服务； 互联网直播技术服务；食品互联网销售；家禽饲养；家禽屠宰；活禽销售；种畜禽经营；种畜禽生产； 食品销售。(依法须经批准的项目，经相关部门批准后方可开展经营活动，具体经营项目以相关部门批 准文件或许可证件为准)。天眼查APP股权穿透显示，该公司由温氏股份全资持股。 数据来源：天眼查APP ...

Investment Rating - The report maintains a "Recommended" rating for the agricultural, forestry, animal husbandry, and fishery industry [1][8]. Core Viewpoints - The report highlights a long-term revaluation opportunity for the pig industry, indicating that while pig prices are experiencing fluctuations, there is still downward pressure. The industry is expected to transition towards a self-regulatory and stable phase, benefiting leading companies such as Wens Foodstuffs, Muyuan Foods, and Juxing Agriculture [4][14]. - The poultry sector is currently facing low prices, but there are signs of marginal improvement in the cycle, with recommendations for companies like Shennong Development and Lihua Stock [5][24]. - The animal health sector is anticipated to see performance recovery and investment opportunities in pet medical services, with a focus on companies like Kexin Biological and Ruipuhua [6][34]. - The planting sector is experiencing a decline in the pig-to-grain price ratio, with ongoing commercialization of genetically modified seeds benefiting early adopters [7][37]. - The feed sector is witnessing price fluctuations, with recommendations for Haida Group and attention to He Feng Stock [7][42]. - The pet economy is thriving, with domestic brands gaining strength, and the report recommends companies in the pet food sector such as Guibao Pet and Zhongchong Stock [7][51]. Summary by Sections Pig Industry - The average price of pigs is currently around 14.08 yuan/kg, with fluctuations noted [14]. - The number of breeding sows has increased slightly, indicating a stable supply [14]. - Key recommendations include Wens Foodstuffs, Muyuan Foods, and Juxing Agriculture, with a suggestion to pay attention to Dekang Agriculture [4][14]. Poultry Industry - The price of white feather chicken is low, with a focus on potential marginal improvements in the cycle [5][23]. - The report notes a significant update in the breeding stock, with a mix of imported and self-bred varieties [5][24]. - Recommended companies include Shennong Development and Lihua Stock [5][24]. Animal Health - The report anticipates continued recovery in animal health companies' performance, supported by stable profits in the pig farming sector [6][34]. - The approval of mRNA vaccines for veterinary use marks a significant technological advancement [6][34]. - Recommended companies include Kexin Biological and Ruipuhua, with additional attention to Huisheng Biological and Jinhai Biological [6][34]. Planting Sector - The pig-to-grain price ratio has decreased, with ongoing commercialization of genetically modified seeds [7][37]. - Recommendations include Suqian Agricultural Development and Longping High-Tech [7][37]. Feed Sector - Feed prices are experiencing fluctuations, with specific prices noted for different types of feed [7][42]. - The report suggests that the feed industry is likely to see increased concentration, recommending Haida Group and monitoring He Feng Stock [7][42]. Pet Industry - The pet market is growing, with a significant increase in consumption and brand development [7][51]. - Recommendations include Guibao Pet, Zhongchong Stock, and Peidi Stock in the pet food sector, as well as Ruipuhua in the pet medical sector [7][51].