“养殖航母”预计6月交付使用，养殖ETF(516760)午后翻红

Core Viewpoint - The aquaculture sector is experiencing positive momentum, with the introduction of innovative technologies and a potential recovery in consumer demand, which may lead to improved pricing in the medium term [1][3]. Group 1: Market Performance - As of April 29, 2025, the China Livestock Breeding Index (930707) increased by 0.04%, with notable gains from companies such as RuiPu Bio (300119) up 4.81% and PuLaike (603566) up 3.79% [1]. - The Aquaculture ETF (516760) rose by 0.16%, with a recent price of 0.62 yuan, and has seen a cumulative increase of 2.14% over the past month, ranking first among its peers [1]. Group 2: Industry Developments - The world's first large-scale deep-sea aquaculture vessel, "Bay Area Lingding," is expected to be delivered in June 2025, with an annual production capacity of 5,000 tons, equivalent to the output of 5,000 mu of fish ponds [1]. - Huaxi Securities anticipates that while short-term consumer demand is recovering, supply remains ample. However, due to a slow recovery in production capacity in 2024, pig prices may exceed expectations in the second half of 2025 [1]. Group 3: Valuation Insights - The latest price-to-earnings ratio (PE-TTM) for the index tracked by the Aquaculture ETF is 13.13, which is in the 1.18% percentile over the past year, indicating that the valuation is lower than 98.82% of the time in the last year, suggesting historical low valuations [1]. Group 4: Index Composition - As of March 31, 2025, the top ten weighted stocks in the China Livestock Breeding Index include HaiDa Group (002311), Wen's Foodstuffs (300498), and MuYuan Food (002714), collectively accounting for 69.05% of the index [3].