Core Viewpoint - The company experienced a decline in both sales volume and revenue for chicken products in November 2025, influenced by the overall supply-demand dynamics in the industry [1] Company Summary - In November 2025, the company sold 19.04 million chickens, generating a revenue of 46.67 million yuan, reflecting a month-on-month change of -2.14% in sales volume and -17.11% in revenue [1] - Year-on-year, the sales volume and revenue decreased by 21.05% and 49.73%, respectively [1] Industry Summary - The high inventory levels of laying hens and the seasonal decline in egg consumption have led to a subdued market demand [1] - The low prices of eggs are causing ongoing losses in egg production, resulting in cautious expectations among breeding units and reduced enthusiasm for replenishing stocks [1] - Additionally, the weak trend in pig prices is indirectly suppressing egg consumption [1]

晓鸣股份公告，公司2025年11月销售鸡产品1904.13万羽，销售收入4666.52万元，环比变动分别 为-2.14%、-17.11%，同比变动分别为-21.05%、-49.73%。 ...

宁夏晓鸣农牧股份有限公司 2025 年 11 月鸡产品销售情况简报 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 一、2025 年 11 月鸡产品销售情况 宁夏晓鸣农牧股份有限公司（以下简称"公司"）2025 年 11 月销售鸡产品 1,904.13 万羽，销售收入 4,666.52 万元，环比变动分别为-2.14%、-17.11%， 同比变动分别为-21.05%、-49.73%。 二、原因说明 证券代码：300967 证券简称：晓鸣股份 公告编号：2025-164 | 2025 年 8 月 | 2,159.03 | 19,575.42 | 7,990.41 | 81,574.03 | 3.70 | | --- | --- | --- | --- | --- | --- | | 2025 年 9 月 | 2,161.79 | 21,737.21 | 6,615.15 | 88,189.18 | 3.06 | | 2025年10月 | 1,945.67 | 23,682.88 | 5,629.81 | 93,818.99 | 2.89 | | 2025年11月 ...

Core Insights - The Ningxia Boutique China Tour and Green Quality Agricultural Products Promotion Conference aims to showcase Ningxia's agricultural brand achievements and expand the market space and global influence of "Ning" branded green quality agricultural products [2] Group 1: Agricultural Quality and Branding - Ningxia's agricultural products are characterized by unique qualities derived from the Yellow River's water and the Helan Mountain's protection, leading to green, high-quality, and safe products [3] - The Helan Mountain East Slope wine region is recognized as a "golden zone," ranking first in China and fourth globally in brand value [3] - Ningxia is a leading region for goji berries, setting standards and leading in seedling and trading processes [3] - Key indicators of Ningxia milk exceed EU standards, and its beef and lamb products have been featured in state banquets due to their outstanding quality [3] Group 2: Technological Integration and Innovation - The promotion conference highlighted the integration of technology in agriculture, showcasing innovative practices in urban agriculture, digital agriculture applications, and modern planting and breeding techniques [7] - The event served as a platform for sharing practical experiences from leading agricultural enterprises in Ningxia, emphasizing the role of technology in enhancing agricultural productivity and competitiveness [7] Group 3: Market Expansion and Collaborations - The conference marked a significant step from "showcasing" to "implementation," with multiple intention cooperation agreements signed between Ningxia agricultural enterprises and organizations in digital economy services and ecological industry promotion [9] - These collaborations focus on core products such as goji berries and wine, indicating a strategic move to integrate "Ning" agricultural products into national and global supply chains through digital economy empowerment [9] Group 4: Event Highlights and Consumer Engagement - The promotion conference concluded with a tasting experience, allowing attendees to sample Ningxia's unique products, thereby enhancing consumer engagement and proximity to the brand [10] - A two-day exhibition and sales event showcased over 30 agricultural enterprises, featuring products like wine, goji berries, milk, and vegetables, further bridging the gap between Ningxia's quality agricultural products and consumers [10]

Group 1 - The event "Ningxia Boutique China Tour (Hainan Station) and Green Quality Agricultural Products Promotion Conference" showcased the achievements of Ningxia's "six special" industries, emphasizing the theme of sharing a green and healthy lifestyle [1][3] - Ningxia Xiaoming Agricultural and Animal Husbandry Co., Ltd. presented its experience in upgrading the egg-laying industry through technological innovation and green development, highlighting its brand proposition of showcasing the vitality of the Gobi Desert [1][3] Group 2 - The promotion conference is a significant initiative for Ningxia to leverage high-end platforms to promote its "Ning" branded agricultural products nationally and globally, featuring renowned products like Helan Mountain wine, goji berries, milk, beef, and vegetables [3] - Xiaoming Co. is recognized as "China's first egg-laying stock" and aims to become a world-class Chinese egg source enterprise, having established a complete industry chain from breeding to table over 33 years, with a market share exceeding 25% in the domestic chick supply market [3][4] Group 3 - The company's unique "centralized breeding and decentralized hatching" model ensures biosecurity and product efficiency, with high-standard breeding bases in Ningxia and Inner Mongolia, leveraging the natural isolation of the Gobi Desert [3][4] - Xiaoming Co. has implemented strict quality control across the entire supply chain, achieving dual certification in ISO and HACCP food safety systems, and has independently released an ESG report, establishing a carbon footprint accounting system [4] Group 4 - The successful display of Xiaoming Co. at the Boao Forum reflects the achievements in Ningxia's agricultural brand building, expanding market space and deepening cooperation opportunities in agricultural technology, market channels, and brand development [4]

证券代码：300967 证券简称：晓鸣股份 公告编号：2025-163 宁夏晓鸣农牧股份有限公司 关于回购公司股份的进展公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 累计回购股份数量为 1,893,500 股，占公司总股本的 1.0095%，成交的最低价格 为 11.23 元/股，成交的最高价格为 19.18 元/股，支付的总金额为人民币 21,963,277.00 元（不含交易费用）。上述回购符合公司回购方案及相关法律法 规的要求。 二、其他说明 （一）公司回购股份的时间、集中竞价交易的委托时段、交易价格等符合《深 圳证券交易所上市公司自律监管指引第 9 号——回购股份》及公司回购股份方案 的相关规定，具体如下： 1.公司未在下列期间内回购公司股份： （1）自可能对本公司证券及其衍生品种交易价格产生重大影响的重大事项 发生之日或者在决策过程中，至依法披露之日内； 宁夏晓鸣农牧股份有限公司（以下简称"公司"）于 2024 年 12 月 20 日召 开第五届董事会第十七次会议、第五届监事会第七次会议，于 2025 年 1 月 10 日召开 2025 年第 ...

Core Viewpoint - The visit of Mongolian chicken merchants to Ningxia Xiaoming Agricultural and Animal Husbandry Co., Ltd. highlights the company's technological advancements and strong market presence in both domestic and Mongolian markets, with a focus on enhancing product quality through innovation [1][2]. Group 1: Company Overview - Xiaoming Co. has been engaged in chicken farming in the Gobi Desert for 31 years, achieving a domestic market share of approximately 25% and over 50% in Mongolia [1]. - The company integrates breeding, technical research, incubation, and sales, and is recognized as a key national agricultural enterprise and a high-tech enterprise [1]. - Xiaoming Co. is the first listed company in China's egg-laying chicken industry, having gone public on the Shenzhen Stock Exchange in 2021 [1]. Group 2: Market Position and Growth - Since 2008, the supply of hatching eggs to Mongolia has increased from tens of thousands to over 2 million annually, significantly supporting the development of Mongolia's egg-laying industry [2]. - The unique geographical advantages of the Gobi Desert, including low fixed costs and high biosecurity, have contributed to the company's leading position in the egg-laying chicken industry [2]. Group 3: Technological Advancements and Collaboration - The Mongolian merchants evaluated Xiaoming Co.'s achievements in breeding management and biosecurity systems positively, expressing a desire to learn from the company's development experience [3]. - The discussions during the visit focused on improving hatching quality and optimizing supply chain management, indicating a commitment to ongoing collaboration [3]. - The company aims to continue enhancing chick quality through technological innovation and providing competitive products and services to both domestic and international clients [3].

Group 1 - The livestock sector is experiencing a positive trend, with the China Livestock Breeding Index (930707) rising, and key stocks such as Jinxinnong (002548) and Yisheng (002458) showing significant gains [1] - Major pig farming companies are expanding into Southeast Asia, indicating a trend of overseas expansion among leading enterprises like Muyuan, New Hope, and Haida [1] - The market is at a critical point of capacity reduction driven by both policy and market forces, with potential improvements in supply-demand relationships expected by mid-2026 if capacity reduction targets are met [2] Group 2 - The top ten weighted stocks in the China Livestock Breeding Index account for 65.58% of the index, with companies like Muyuan (002714) and Wens (300498) being the most significant contributors [3] - The overall capital expenditure of listed pig farming companies is stabilizing and slightly decreasing, as many firms are halting capacity expansion projects due to narrowing profits and cash flow pressures [2] - The livestock ETF closely tracks the China Livestock Breeding Index, which includes companies involved in feed, pharmaceuticals, and livestock farming, reflecting the overall performance of the sector [2]

Group 1: Company Performance - As of September 30, 2025, the company achieved a revenue of 1.024 billion yuan, representing a year-on-year growth of 58.98% [2] - The net profit attributable to the parent company for the same period was 183 million yuan, showing a significant year-on-year increase of 2243.97% [2] - The company has distributed a total of 93.93 million yuan in dividends since its A-share listing, with 37.14 million yuan distributed over the past three years [3] Group 2: Shareholder and Financing Information - As of November 21, 2023, the company had a total of 17,300 shareholders, an increase of 1.12% from the previous period [2] - The average number of circulating shares per shareholder was 7,211, which decreased by 1.10% compared to the previous period [2] - On November 21, 2023, the company recorded a financing buy-in amount of 14.68 million yuan, with a net financing buy of 4.22 million yuan, indicating a relatively high financing balance of 124 million yuan, accounting for 3.39% of the circulating market value [1]

Group 1 - The poultry concept sector rose by 1.90%, ranking fourth among concept sectors, with 15 stocks increasing in value, including Yike Food which hit a 20% limit up [1] - Leading stocks in the poultry sector included Lihua Co., Jingji Zhino, and Guanghong Holdings, which saw increases of 1.91%, 1.48%, and 1.29% respectively [1] - The stocks that experienced the largest declines were Luoniushan, Huadong Co., and Xiaoming Co., with decreases of 3.80%, 1.50%, and 1.11% respectively [1] Group 2 - The poultry concept sector attracted a net inflow of 275 million yuan from main funds, with 10 stocks receiving net inflows, and 5 stocks exceeding 10 million yuan in net inflow [2] - The top stock for net inflow was Tianma Technology, which saw a net inflow of 246 million yuan, followed by Yike Food, Huaying Agriculture, and Jingji Zhino with net inflows of 75.81 million yuan, 56.13 million yuan, and 42.85 million yuan respectively [2] - The net inflow ratios for Tianma Technology, Yike Food, and Jingji Zhino were 25.15%, 19.08%, and 17.33% respectively [3] Group 3 - The trading performance of Tianma Technology showed a daily increase of 10.03% with a turnover rate of 12.06% and a main fund flow of 245.60 million yuan [3] - Yike Food had a daily increase of 19.98% with a turnover rate of 6.92% and a main fund flow of 75.81 million yuan [3] - Other notable stocks included Huaying Agriculture with a daily increase of 10.03% and a main fund flow of 56.13 million yuan, and Jingji Zhino with a daily increase of 1.48% and a main fund flow of 42.85 million yuan [3]