Ge Long Hui·2025-12-19 00:12Group 1 - The core viewpoint is that by 2026, a new paradigm in the pig industry is expected to strengthen, characterized by shorter cycle lengths, reduced amplitude, and decreased volatility in prices [1] - In terms of price, it is anticipated that pig prices may gently decline in 2026, while leading companies are expected to maintain profitability throughout the year [1] - The growth paradigm for leading pig companies is entering an opportunity phase, with both growth and value attributes expected to rise [1] Group 2 - The investment paradigm is shifting from a purely cyclical perspective to a combination of cyclical and value considerations, leading to a continuous reshaping of the valuation system for low-cost, large-scale leading enterprises [1] - Leading companies are likely to continue outperforming the industry due to this evolving investment approach [1]