Investment Rating - The industry investment rating is "Positive" [5] Core Insights - The report emphasizes the importance of ensuring food security and stabilizing agricultural product prices, with a focus on grain production and the rural revitalization strategy [2][3] - The report highlights the need for innovation in agriculture, advocating for the development of new productive forces through smart agriculture and biotechnology [4] Summary by Sections Agricultural Production and Price Stability - The central economic meeting stresses the need to strictly adhere to arable land limits and maintain grain production to keep prices of essential agricultural products at reasonable levels [2] - Since June 2025, a series of capacity control measures have been implemented, leading to a decrease in the breeding sow inventory to below 4,000 heads by October 2025, aligning with the central economic meeting's directives [2] - The report recommends focusing on the pig farming industry, particularly on leading enterprises like Muyuan Foods, and other beneficiaries such as Wens Foodstuff Group and DeKang Agriculture [2] County Economic Development and Brand Agriculture - The report discusses the promotion of county-level economic development as a key driver for high-quality growth, suggesting the establishment of a full industry chain from production to branding [3] - It encourages agricultural enterprises to transition from bulk raw material producers to specialty agricultural brand companies, highlighting the potential for growth in county-level economies [3] Innovation and New Productive Forces - The report advocates for a new round of high-quality development actions in key industrial chains, emphasizing the integration of artificial intelligence in agriculture [4] - It identifies three key areas for investment: biotechnology innovation, agricultural machinery upgrades, and smart agriculture, recommending specific companies in each sector [4]

每经AI快讯，荃银高科（SZ 300087，收盘价：11.45元）12月22日晚间发布公告称，公司第五届第二十 九次董事会会议于2025年12月22日以现场与通讯表决相结合的方式召开。会议审议了《关于 <安徽荃银 高科种业股份有限公司董事会关于中国种子集团有限公司要约收购事宜致全体股东的报告书> 的议 案》。 （记者 张明双） 2025年1至6月份，荃银高科的营业收入构成为：农业占比97.68%，其他业务占比2.32%。 每经头条（nbdtoutiao）——新能源重卡爆单了，11月销量同比增长178%！两班倒都供不应求，客户直 接进厂催单，这情景十年难遇 截至发稿，荃银高科市值为108亿元。 ...

致全体股东的报告书 证券代码：300087 证券简称：荃银高科 安徽荃银高科种业股份有限公司董事会 关于 中国种子集团有限公司 要约收购事宜 上市公司名称：安徽荃银高科种业股份有限公司 上市公司住所：安徽省合肥市高新区创新大道 98 号 股票上市地点：深圳证券交易所创业板 股票简称：荃银高科 股票代码：300087 董事会报告书签署日期：二〇二五年十二月 有关各方及联系方式 上市公司名称：安徽荃银高科种业股份有限公司 上市公司住所：安徽省合肥市高新区创新大道 98 号 联系人：张庆一、王允利 董事会声明 一、本公司全体董事确信本报告不存在任何虚假记载、误导性陈述或重大遗 漏，并对其内容的真实性、准确性、完整性负个别的和连带的责任。 二、本公司全体董事已履行诚信义务，向股东所提出的建议是基于公司和全 体股东的整体利益客观审慎做出的。 联系电话：0551-65355175 收购人名称：中国种子集团有限公司 收购人住所：海南省三亚市崖州区还金路金茂南繁科创中心 A 座 8 楼 001 号 通讯地址：海南省三亚市崖州区还金路金茂南繁科创中心 A 座 8 楼 001 号 独立财务顾问名称：国元证券股份有限公司 住所：安 ...

国元证券股份有限公司 关于 中国种子集团有限公司 要约收购 安徽荃银高科种业股份有限公司 之 独立财务顾问报告 独立财务顾问 签署日期：二零二五年十二月 国元证券股份有限公司 独立财务顾问报告 独立财务顾问声明和承诺 本部分所述的词语或简称与本独立财务顾问报告书"释义"部分所定义的词 语或简称具有相同的涵义。 2025 年 12 月 3 日，荃银高科发布公告，宣布收到中种集团出具的要约收购 报告书，中种集团拟以每股 11.85 元的价格，向荃银高科除中种集团以外的公司 全体股东发出部分要约，要约收购荃银高科 189,466,350 股股份（占荃银高科股 份总数的 20%）。 国元证券接受荃银高科董事会委托，担任本次要约收购的独立财务顾问，就 该事项向上市公司全体股东提供独立意见，并制作本独立财务顾问报告。 本报告书所依据的有关资料由荃银高科等相关机构及人员提供，提供方对所 提供的一切书面材料、文件或口头证言的真实性、准确性和完整性负责，并保证 该等信息不存在虚假记载、误导性陈述或重大遗漏。本独立财务顾问不承担由此 引起的任何风险责任。 除荃银高科等相关机构及人员提供的资料外，本报告书所依据的其他信息均 来自公 ...

证券代码：300087 证券简称：荃银高科 公告编号：2025-055 安徽荃银高科种业股份有限公司 第五届董事会第二十九次会议决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 安徽荃银高科种业股份有限公司（以下简称"公司"）第五届董 事会第二十九次会议于 2025 年 12 月 22 日以现场与通讯表决相结合 的方式召开。会议通知于 2025 年 12 月 17 日以电子邮件方式送达。 会议应出席董事 8 人，实际出席董事 8 人，会议由董事长应敏杰先生 主持。本次会议的召集、召开程序符合《中华人民共和国公司法》及 《公司章程》等相关规定。与会董事经过审议并表决，形成决议如下： 会议以 5 票赞成、0 票反对、0 票弃权审议通过《关于<安徽荃银 高科种业股份有限公司董事会关于中国种子集团有限公司要约收购 事宜致全体股东的报告书>的议案》 关联董事应敏杰先生、戴晨晗先生、宋维波先生回避表决。 本议案已经公司第五届董事会独立董事第六次专门会议审议通 过。 同时，公司聘请的独立财务顾问国元证券股份有限公司对本次要 约收购事项出具了《国元证券股份有限公司关于 ...

Investment Rating - Industry rating: Recommended [3] Core Views - The report emphasizes the importance of the EU's anti-dumping duties on imported pork, which are expected to alleviate domestic supply pressures and stabilize prices in the pork market. The anti-dumping tax rates range from 4.9% to 19.8% and will take effect from December 17, 2025 [2][12] - The report highlights the ongoing adjustments in the pig breeding capacity, with a noted decrease in the number of breeding sows, which is expected to support price recovery in the pork market [2][12] - The report suggests that the commercialization of genetically modified seeds will accelerate, enhancing self-sufficiency in key crop varieties and benefiting companies in the seed industry [11] Summary by Sections Planting Industry Chain - The Ministry of Agriculture and Rural Affairs has initiated inspections to ensure the safety of seeds for the upcoming spring and summer planting seasons, focusing on key crops such as corn, rice, soybeans, cotton, and vegetables [11] - The report identifies companies like Beidahuang and Suqian Agricultural Development as beneficiaries in the planting sector, while companies with significant advantages in the seed industry include Dabeinong and Longping High-Tech [11] Pig Breeding - The average price of live pigs is reported at 11.64 CNY/kg, with a week-on-week increase of 1.45%. The total number of breeding sows is 39.9 million, reflecting a decrease of 1.1% month-on-month and 2.1% year-on-year [2][12] - The report recommends focusing on companies with significant cost improvements and high future output elasticity, including Li Hua Co., Muyuan Foods, and WH Group in the breeding sector, and Haida Group in the feed sector [2][12] Key Agricultural Product Data Tracking - Corn: The average price is 2351.76 CNY/ton, with a week-on-week decrease of 0.26% [25] - Wheat: The average price is 2517.30 CNY/ton, with a week-on-week increase of 0.04% [28] - Soybeans: The average price is 4014.74 CNY/ton, remaining stable week-on-week [40] - Cotton: The average price is 14950.00 CNY/ton, with a week-on-week increase of 0.67% [44] Feed and Vitamin Prices - The average price of pig feed is 2.62 CNY/kg, with no change week-on-week. The average price of chicken feed is 3.5 CNY/kg, reflecting a week-on-week increase of 0.29% [51][53]

责任编辑：小浪快报 资料显示，安徽荃银高科种业股份有限公司位于安徽省合肥市高新区创新大道98号，成立日期2002年7 月24日，上市日期2010年5月26日，公司主营业务涉及优良水稻、玉米、小麦等主要农作物种子的研 发、繁育、推广、服务,以及利用公司优质特色品种带动的订单农业业务。主营业务收入构成为：订单 粮食、青贮玉米44.79%，水稻种子25.38%，皮棉、棉籽、农机、农化及其他业务15.26%，玉米种子 9.39%，棉花种子3.36%，瓜菜种子、大豆种子及其他作物种子1.21%，小麦种子0.61%。 截至12月10日，荃银高科股东户数3.80万，较上期减少5.00%；人均流通股23744股，较上期增加 5.26%。2025年1月-9月，荃银高科实现营业收入19.34亿元，同比减少5.90%；归母净利润-1.80亿元，同 比减少113.45%。 分红方面，荃银高科A股上市后累计派现4.46亿元。近三年，累计派现2.10亿元。 机构持仓方面，截止2025年9月30日，荃银高科十大流通股东中，万家品质生活A（519195）位居第三 大流通股东，持股1619.42万股，相比上期减少121.93万股。南方中证10 ...

Investment Rating - The report indicates a neutral investment rating for the agricultural sector, with expectations of limited price fluctuations in the near term [9]. Core Insights - The agricultural sector index has shown a slight increase of 0.79% week-on-week, but it has underperformed compared to the Shanghai Composite Index [13]. - The pig farming industry is currently facing a downward price trend, with an average pig price of 11.58 yuan/kg, indicating ongoing losses across the sector [22][23]. - Poultry farming is experiencing a stabilization at the bottom of the price cycle, with white feather chicken prices at 7.35 yuan/kg, reflecting a slight recovery in profits [29]. - The beef market is expected to see price increases as it enters the consumption peak season, with live cattle prices in Shandong at 26.68 yuan/kg [36]. - The planting industry is witnessing a tightening supply-demand situation, with corn prices rising to 2244.29 yuan/ton, indicating potential for price increases [41][42]. - Feed prices have stabilized, with pig feed at 3.33 yuan/kg, while aquatic product prices are showing upward trends [55]. Summary by Sections 1. Pig Farming - The average weight of pigs at market is 130.18 kg, with ongoing losses in the industry prompting a reduction in production capacity [23][22]. - The report anticipates further price declines in the short term, but a potential recovery in the medium to long term due to improved profit margins for leading companies [23][22]. 2. Poultry Farming - White feather chicken prices are under pressure, while yellow feather chicken prices are showing resilience due to improved demand and reduced supply [29]. - The overall profitability in poultry farming is expected to improve as consumer demand recovers [29]. 3. Livestock - The beef market is poised for price increases, supported by a seasonal demand surge and reduced supply from imports [36]. - Dairy prices are stabilizing, with average purchase prices for raw milk at 3.02 yuan/kg, indicating a potential for recovery in the dairy sector [39]. 4. Planting Industry - Corn prices are on the rise, with a current price of 2244.29 yuan/ton, reflecting a tightening supply situation [41]. - The report highlights the potential for improved conditions in the planting sector if there are significant reductions in crop yields due to adverse weather [42]. 5. Feed and Aquaculture - Feed prices have stabilized, with pig feed at 3.33 yuan/kg, while aquatic product prices are trending upwards, particularly for shrimp and fish [55][60].

（文章来源：证券日报） 证券日报网讯 12月19日，荃银高科在互动平台回答投资者提问时表示，截至2025年12月10日，公司共 有股东约3.8万户。 ...

证券代码：300087 证券简称：荃银高科 公告编号：2025-054 安徽荃银高科种业股份有限公司 关于中国种子集团有限公司要约收购公司股份的 第二次提示性公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整， 没有虚假记载、误导性陈述或重大遗漏。 重要内容提示 1、本次公告为中国种子集团有限公司（以下简称"收购人"或 "中种集团"）以要约方式收购安徽荃银高科种业股份有限公司（以 下简称"公司"或"上市公司"）部分股份（以下简称"本次要约收 购"）的第二次提示性公告。 2、本次要约收购期限为 2025 年 12 月 4 日至 2026 年 1 月 5 日。 按照本次要约收购申报程序，在本次要约收购期限内最后三个交易日 （即 2025 年 12 月 30 日、2025 年 12 月 31 日和 2026 年 1 月 5 日）， 预受股东可撤回当日申报的预受要约，但不得撤回已被中登深圳分公 司临时保管的预受要约。 公司于 2025 年 12 月 3 日公告了《安徽荃银高科种业股份有限公 司要约收购报告书》（以下简称"要约收购报告书"），中种集团以 要约方式收购公司部分股份。公司现就本次要约收购的有关情 ...