Core Viewpoint - Juxing Agriculture and Animal Husbandry (603477) has seen a stock price increase of 2.23% this week, closing at 17.85 yuan, with a total market capitalization of 9.105 billion yuan as of January 16, 2026 [1]. Company Announcements - The company plans to issue shares to specific investors, raising no more than 227.066 million yuan for projects including the construction of a boar station, a breeding technology research base, and digital intelligence development, with the controlling shareholder Juxing Group as one of the investors [1][3]. - The issuance has been approved by the board and shareholders but is pending review by the Shanghai Stock Exchange and registration with the China Securities Regulatory Commission [1]. - As of December 31, 2025, the company has provided guarantees totaling 2.3237354 billion yuan, which accounts for 70.41% of the latest audited net assets, primarily for working capital loans and bank acceptance bills [1][3].

Group 1 - The core point of the article is that Juxing Agriculture and Animal Husbandry (603477) is planning to issue shares to specific investors to raise up to 227.07 million yuan for various projects and working capital [1][3] - On January 15, 2026, Juxing Agriculture and Animal Husbandry closed at 17.99 yuan, with a 0.9% increase, a turnover rate of 2.77%, a trading volume of 141,400 shares, and a transaction amount of 255 million yuan [1] - On the same day, the net inflow of main funds was 9.17 million yuan, accounting for 3.6% of the total transaction amount, while retail investors had a net outflow of 9.91 million yuan, representing 3.89% of the total transaction amount [1] Group 2 - The company plans to use the raised funds for the construction of a boar station, a breeding technology research base, digital intelligence construction, and to supplement working capital [1][3] - The issuance will involve related party transactions with the controlling shareholder, Juxing Group, but will not lead to a change in company control [1] - As of December 31, 2025, the company provided guarantees totaling 571.14 million yuan for several wholly-owned and controlled subsidiaries, which is 70.41% of the latest audited net assets [1]

Group 1 - The company, Juxing Agriculture and Animal Husbandry, announced that neither it nor its subsidiaries have any overdue guarantees [2]

乐山巨星农牧股份有限公司 2025 年 12 月份担保情况的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： | | | 巨星农牧有限公司、德昌巨星农牧科 技有限公司、平塘巨星农牧有限公 司、泸县巨星农牧科技有限公司、古 | | --- | --- | --- | | | | 蔺巨星农牧有限公司、剑阁巨星农牧 有限公司、乐山市巨星科技有限公 司、屏山巨星农牧有限公司、乐山巨 星生物科技有限公司、眉山市彭山永 | | | 被担保人名称 | 祥饲料有限责任公司、广元巨星农业 有限公司、叙永巨星农牧有限公司、 | | | | 乐山巨星农业发展有限公司、邛崃巨 星农牧有限公司、重庆巨星农牧有限 | | | | 公司、安徽巨星农牧有限公司、南充 | | 担保对象 | | 巨星农牧科技有限公司、川东巨星 | | （一） | | （达州）畜牧有限公司、绵阳巨星农 | | | | 业有限公司、雅安巨星农牧有限公 | | | | 司、山东巨星农牧有限公司、夹江县 | | | | 巨星农牧有限公司、宝鸡巨星农牧有 | | | ...

Core Viewpoint - The company, Juxing Agriculture and Animal Husbandry (巨星农牧), is planning to issue shares to specific investors to raise up to 227.07 million yuan for various projects, including the construction of a boar station and a breeding technology research base, as well as for digital intelligence development and working capital supplementation [1]. Group 1: Stock Performance - As of January 14, 2026, the stock closed at 17.83 yuan, up 2.35% from the previous trading day [1]. - The stock opened at 17.5 yuan, reached a high of 17.83 yuan, and a low of 17.31 yuan, with a trading volume of 2.42 billion yuan and a turnover rate of 2.69% [1]. Group 2: Fundraising Announcement - The company announced plans to issue shares to specific investors, with a total fundraising amount not exceeding 227.07 million yuan [1]. - The issuance will include the controlling shareholder, Juxing Group, which constitutes a related party transaction [1]. - The issuance will not result in a change of control of the company [1]. - The project has been approved by the board of directors and the shareholders' meeting, pending review by the Shanghai Stock Exchange and registration with the China Securities Regulatory Commission [1].

股票简称：巨星农牧 证券代码：603477 乐山巨星农牧股份有限公司 Leshan Giantstar Farming&Husbandry Corporation Limited （四川省乐山市五通桥区竹根镇新华村） 2023 年度向特定对象发行股票 募集说明书 （申报稿） 保荐机构（主承销商） 深圳市前海深港合作区南山街道梦海大道 5073 号民生互联网大 厦 C 座 1401-1408、1501-1508、1601-1606、1701-1705 二〇二六年一月 乐山巨星农牧股份有限公司 2023 年度向特定对象发行股票募集说明书 声 明 本募集说明书按照《上市公司证券发行注册管理办法》《公开发行证券的公 司信息披露内容与格式准则第 61 号——上市公司向特定对象发行证券募集说明 书和发行情况报告书》等要求编制。 本公司全体董事、审计委员会成员、高级管理人员承诺募集说明书不存在任 何虚假、误导性陈述或重大遗漏，并保证所披露信息的真实、准确、完整。 公司负责人、主管会计工作负责人及会计机构负责人（会计主管人员）保证 募集说明书中财务会计报告真实、完整。 证券监督管理机构及其他政府部门对本次发行所作的任何决定， ...

Core Viewpoint - The aquaculture sector experienced a slight increase of 0.09% on January 14, with *ST Tianshan leading the gains, while the overall market showed mixed results with the Shanghai Composite Index down by 0.31% and the Shenzhen Component Index up by 0.56% [1]. Group 1: Stock Performance - *ST Tianshan closed at 9.67, up by 15.67%, with a trading volume of 174,600 shares and a transaction value of 161 million yuan [1]. - Other notable performers included Juxing Agriculture (up 2.35% to 17.83), Zhengbang Technology (up 1.25% to 3.24), and Xiaoming Co. (up 0.98% to 19.59) [1]. - Major stocks like Wens Foodstuff and Muyuan Foods saw minor increases of 0.48% and 0.46%, respectively, with closing prices of 16.89 and 48.40 [1]. Group 2: Capital Flow - The aquaculture sector saw a net outflow of 223 million yuan from institutional investors, while retail investors contributed a net inflow of 77.57 million yuan [2]. - Notable stocks with significant capital flow included Zhengbang Technology, which experienced a net outflow of 37.67 million yuan from institutional investors [3]. - Muyuan Foods had a net inflow of 37.65 million yuan from institutional investors, indicating a positive sentiment towards this stock [3].

Market Overview - The domestic market indices showed a decline, with the Shanghai Composite Index closing at 4,138.76, down 0.64% [4] - The CSI 300 Index experienced a decrease of 0.60%, closing at 4,761.03 [4] Agricultural Sector Insights - The agricultural sector reported a weekly performance with the CSI 300 Index increasing by 2.79% and the agriculture sector rising by 0.98%, ranking 28th among sectors [6] - Pig prices increased week-on-week, with average prices for external three yuan pigs in Sichuan, Guangdong, and Henan at 13.10, 12.86, and 12.93 CNY/kg respectively, showing a mixed trend [6] - The average pork price was 17.97 CNY/kg, up 1.18% from the previous week, while the average wholesale price for piglets rose by 6.45% to 16.50 CNY/kg [6] - The self-breeding and self-raising profit margin was -11.54 CNY per head, a reduction of approximately 23.05 CNY per head from the previous week [6] - The report suggests focusing on Hai Da Group due to favorable conditions in the feed industry and its competitive advantages in the market [6] Livestock Industry Trends - The pig farming industry has entered a loss phase, prompting a new round of capacity reduction driven by market forces and policy adjustments [6] - The number of breeding sows is expected to decrease rapidly, indicating a trend towards capacity reduction in the first half of the year [6] - Companies such as Wen's Foodstuffs, Shennong Group, and New Hope are recommended for investment due to their potential recovery in fundamentals and valuations [6] Poultry Sector Developments - Shengnong Development's breeding chicken business is progressing steadily, with cost control measures leading to reduced production costs [6] - The company is enhancing its revenue structure by increasing its presence in high-value channels [6] Pet Food Market Outlook - The pet food sector is anticipated to continue growing, with increasing penetration rates in pet ownership [6] - The competition is shifting from marketing to research and supply chain efficiency, suggesting a focus on brands that prioritize R&D [6] Coal Industry Analysis - The coal market is maintaining normal production levels, with a gradual recovery in supply as coal mines resume operations [8] - The demand from downstream sectors remains limited, leading to a stable but weak market outlook [8] - Investment recommendations include companies like Yanzhou Coal Mining, Shaanxi Coal and Chemical Industry, and China Shenhua Energy, with a focus on potential recovery in Q4 performance [8]

Investment Rating - The report maintains an investment rating of "Buy" for the agricultural sector, specifically highlighting companies such as Hai Da Group, Shengnong Development, and Wen's Shares [3]. Core Insights - The agricultural sector has shown a mixed performance, with the Shanghai and Shenzhen 300 Index increasing by 2.79% and the agricultural sector rising by 0.98% during the week of January 5 to January 11 [2][12]. - The report emphasizes the recovery in the pig farming industry, with a new round of capacity reduction expected. The average price of pigs has increased, and losses in pig farming have narrowed [2][22]. - The feed industry is experiencing a structural recovery, with most raw material prices at cyclical lows, and companies like Hai Da Group are expected to benefit from this trend [3]. Summary by Sections 1. Agricultural Sector Weekly Review - The agricultural sector ranked 28th among all sectors, with top-performing sub-industries including aquaculture, animal health, and poultry farming [2][12]. - Notable gainers in the agricultural sector include companies like Dahu Co. and Zhongshui Fisheries, with increases of 17.83% and 16.07% respectively [12]. 2. Industry Data 2.1 Pig Farming - As of January 9, the average price of pigs in Sichuan, Guangdong, and Henan was 13.10, 12.86, and 12.93 CNY/kg respectively, with an overall average pork price of 17.97 CNY/kg [22]. - Self-breeding pig farming reported a loss of 11.54 CNY per head, a reduction of approximately 23.05 CNY from the previous week [22]. 2.2 Poultry Farming - The weekly price for white feather broilers was 7.64 CNY/kg, a decrease of 1.04% from the previous week, while the profit from broiler farming was 0.45 CNY per bird, down 23.73% [37]. 2.3 Feed Processing - The average price of fattening pig feed was 3.36 CNY/kg, remaining stable, while chicken feed prices also held steady at 3.45 CNY/kg [43]. 2.4 Aquaculture - As of January 9, the price of sea cucumbers was 120.00 CNY/kg, reflecting a 33.33% increase, while shrimp prices remained stable at 320.00 CNY/kg [49]. 2.5 Planting and Grain Processing - As of January 9, corn prices were 2,351.86 CNY/ton, showing a slight decrease of 0.18%, while soybean prices remained stable at 4,048.42 CNY/ton [58].

Group 1 - New Hope plans to issue A-shares to raise up to 3.338 billion yuan for projects aimed at upgrading biosecurity and digitalization in pig farming and repaying bank debts [1] - The company aims to enhance its biosecurity, comfort, intelligence, information technology, and breeding quality through a comprehensive upgrade of existing pig farms, with a total investment of 2.92 billion yuan [1] - New Hope has established itself as a leading player in the domestic pig farming industry, achieving cumulative sales of 17.5454 million pigs and sales revenue of 23.205 billion yuan by 2025 [1] Group 2 - The Chinese government is focusing on digital agriculture and rural development, promoting the application of digital technologies in the pig farming industry, which is a key area of support [2] - The implementation of New Hope's biosecurity and digitalization project is expected to improve pig farming efficiency and management, reduce resource waste, and enhance profitability [2] - Other companies in the industry, such as Wens Foodstuff Group, are also investing in digital applications and technologies like cloud computing and AI to enhance their farming processes [2] Group 3 - Leshan Juxing Agricultural and Animal Husbandry is advancing its digital intelligence construction project, which is seen as essential for internal development and industry advancement [3] - Experts believe that technology-driven cost reduction and green farming will characterize the future of pig farming, with innovations like AI and precision feeding expected to lower costs [3] - The transformation of pig farming companies will focus on strategic restraint and technological penetration, with a shift in competition from resource ownership to data application [3]