唐人神（002567.SZ）2月10日在投资者互动平台表示，采用低蛋白日粮技术，2025年猪料蛋白比2024年 下降了1个百分点，其中外销猪料和内供猪料分别少用了3.45万吨和3.24万吨豆粕，分别节约成本大约 1200万元和1120万元。如果杂粕价格有优势会进一步降低豆粕用量，但日粮蛋白不会进一步降低。 （文章来源：每日经济新闻） 每经AI快讯，有投资者在投资者互动平台提问：公司2025年通过低蛋白日粮技术减少豆粕用量约多少 万吨？能否请您量化说明，这项技术去年为公司自身养殖业务和饲料外销业务分别带来了多少元/吨的 饲料成本节约？公司是否有进一步降低豆粕用量的中期目标？ ...

来源：问董秘 免责声明：本信息由新浪财经从公开信息中摘录，不构成任何投资建议；新浪财经不保证数据的准确 性，内容仅供参考。 感谢您的提问。采用低蛋白日粮技术，2025年猪料蛋白比2024年下降了1个百分点，其中外销猪料和内 供猪料分别少用了3.45万吨和3.24万吨豆粕，分别节约成本大约1200万和1120万。如果杂粕价格有优势 会进一度降低豆粕用量，但日粮蛋白不会进一步降低。 查看更多董秘问答>> 公司2025年通过低蛋白日粮技术减少豆粕用量约多少万吨？能否请您量化说明，这项技术去年为公司自 身养殖业务和饲料外销业务分别带来了多少元/吨的饲料成本节约？公司是否有进一步降低豆粕用量的 中期目标？ 董秘回答(唐人神SZ002567)： 投资者提问： ...

生生生 生生生生生生生生生生生生生 生生生生 2 0 2 6 . 0 2 . 0 6 作者：姜振飞 联系方式： jiangzhenfei@zjtfqh.com 审核：李文涛 我公司依法已获取期货交易咨询业务资格 交易咨询证号：Z0015640 观点小结 生猪 定性 解析 从业资格证号：F03143941 交易咨询证号：Z0022201 临近春节终端备货接近尾声，屠宰企业开工率接近年度高点，下周上半周北方小年过后，家庭备货也 将基本结束，屠宰企业将陆续停工，现货价格也将逐步停止报价，因春节后是需求淡季，市场对春节后现货 价格预期较为悲观，因此养殖端在春节前出栏较为积极，从规模化样本企业小幅超额完成1月出栏计划以及 牧原将出栏体重降至120公斤以下，加上标肥价差持续走扩，肥猪出现相对偏紧的情况来看，春节前养殖端 出栏是积极的，这也降低节后的出栏压力。 核心观点 底部区间震荡 从上市企业业绩公告来看，2025年半数上市企业都是亏损的，结合期货价格以及现在的养殖成本来看， 2026年上半年实现盈利将比较困难，因此在预期2026年较为悲观的情况下，上半年养殖端压栏以及二育将较 为谨慎，持续的亏损也将促使一些低效能的企业 ...

（文章来源：证券日报） 证券日报网讯 2月9日，唐人神在互动平台回答投资者提问时表示，低蛋白日粮技术是一种基于精准营 养理念的现代饲料配制技术，目前在饲料业务中已成常态化，养殖户只需按饲喂流程正常饲喂即可。 ...

国贸期货 农产品研究中心 2026-02-09 谢威 从业资格证号：F03087820 投资咨询证号：Z0019508 本报告非期货交易咨询业务项下服务，其中的观点和信息仅供参考，不构成任何投资建议；期市有风险，投资需谨慎 01 PART ONE 主要观点及策略概述 生猪：近月需求旺季不旺，远月产能去化支撑 投资咨询业务资格：证监许可【2012】31号 【生猪周报（LH)】 近月需求旺季不旺，远月产能去化支撑 | 影响因素 | 驱动 | 主要逻辑 | | | --- | --- | --- | --- | | 供给 | 中性 | 10月能繁母猪存栏量降至3990.0万头，减少45.0万头；11月样本企业能繁母猪存栏量下降至666.6万头；企业及散户出栏增加，二育介入导致库存累积，供应 压力持续。 | | | 需求 | 偏空 | 冬至备货需求释放，终端消费小幅回暖，下游屠宰企业订单增加，屠企开工率提升，但存在透支及后续需求真空预期。 | | | 库存 | 偏多 | 屠企和冻品库容率均处于同期低位。 | | | 基差/价差 | 中性 | 全国外三元现货均价约12720元/吨，LH2605合约收盘价11620元/吨 ...

Investment Rating - The industry investment rating is maintained as "Recommended" [1] Core Insights - The report highlights a continuous decline in pig prices and a slight decrease in chick prices, indicating a challenging market environment for livestock [2] - The Consumer Price Index (CPI) is projected to increase by 16% in 2024, which may impact overall agricultural pricing dynamics [2] - The report provides a detailed analysis of various agricultural sectors, including livestock, feed, and aquaculture, with specific price movements noted for each category [2][22] Summary by Relevant Sections Industry Overview - The agricultural sector, particularly livestock, is experiencing price fluctuations, with pig prices at 12.05 yuan/kg, down by 1.63% [22] - Chick prices are reported at 2.80 yuan per chick, reflecting a decrease of 3.45% [22] Price Trends - The report notes a 5.15% decline in the price of broiler chickens, currently at 3.68 yuan per 500 grams [22] - The price of feed and other agricultural products is also analyzed, showing varying trends across different commodities [22] Market Performance - The report indicates that the agricultural sector has seen a decline of 0.59% compared to the broader market index, with specific stocks like Wen's Group and Muyuan Foods showing mixed performance [15] - The overall market sentiment remains cautious, with significant attention on price movements and their implications for future profitability [15][22]

Core Insights - The company, Baoxin Packaging, has experienced a significant increase in order volume, with over 60 million yuan in orders received this year, more than doubling compared to the same period in 2025 [1][2] - Baoxin Packaging specializes in the production of printed packaging bags, serving various sectors including fertilizer, feed, and nutrient substrate packaging [1] - The company operates a full-process production model, allowing for strict cost and quality control, as well as high production flexibility to respond to market changes [1] Customer Expansion - Baoxin Packaging has expanded its client base to over ten partners, including five listed companies, with notable contracts such as a 10 million yuan order with Tangrenshen Group in 2025 [2] - The company has seen a significant increase in order volume from existing clients, with many new customers proactively seeking collaboration [2] Digital Transformation - In addition to focusing on offline major clients, Baoxin Packaging has embraced digital sales channels, achieving over 7 million yuan in sales through online platforms within a few months [2] Capacity Expansion - To meet the surging demand, Baoxin Packaging plans to invest over 10 million yuan this year to expand its production lines and add more than 20 new machines [2]

Core Viewpoint - The agricultural and livestock industry is actively seizing the consumption opportunities presented by the upcoming Spring Festival, with companies focusing on technology, product, and channel strengths to drive high-quality development [1][2]. Group 1: Technology Strength - Technology is the foundation for innovation and is essential for implementing the central government's directive to enhance agricultural technology innovation efficiency. Companies like Xiangjia Co., Ltd. are advancing smart factory construction to achieve full automation in production, while Tangrenshen is upgrading its processing techniques to produce low-salt health products [1][2]. Group 2: Product Strength - Product strength is crucial for innovation and aligns with the government's push for deep processing of agricultural products and the cultivation of premium agricultural brands. Consumer demand is shifting towards healthier options, as seen with Tangrenshen's ready-to-eat dishes and Jinjian Rice Industry's health-oriented products, which reflect this trend [2]. Group 3: Channel Strength - Channel strength is vital for converting products into sales. Agricultural companies are enhancing their distribution channels through online platforms like live streaming and e-commerce, as well as offline strategies in supermarkets and community stores. This dual-channel approach has led to increased sales and improved brand reputation for companies like Tangrenshen and Jinjian Rice Industry [2]. Group 4: Synergy of Strengths - The interplay of technology, product, and channel strengths is fundamental for agricultural companies to achieve high-quality development and capitalize on the festive consumption market. Continuous consumer upgrades necessitate a focus on technological research, product innovation, and optimized channel strategies to ensure long-term growth [2].

Core Viewpoint - Agricultural companies are leveraging innovative products and precise marketing strategies to capture the Spring Festival consumption opportunities, enhancing their market presence and driving sales growth [1][2][3]. Group 1: Company Strategies - Tangrenshen Group is focusing on a combination of traditional upgrades and new product innovations, launching "Tang Xiaochu" health food products to meet Spring Festival consumer demands [1]. - Xiangjia Co. is emphasizing freshness with a product matrix of fresh poultry and dishes, while accelerating the production of smart factories for automated and standardized production [2]. - Daodaquan Grain and Oil Co. is positioning itself with a "health + high-end" strategy, promoting high-end cold-pressed tea oil products and utilizing a combination sales strategy to enhance market penetration [2]. - Jinjian Rice Industry Co. is offering a full range of New Year products, ensuring quality through strict control of raw material planting and processing, while developing health-oriented products to cater to the needs of middle-aged and elderly consumers [2][3]. Group 2: Market Trends and Consumer Insights - Companies are effectively responding to consumer trends by integrating product development, process upgrades, and channel innovations, maintaining core advantages in traditional categories while aligning with health, convenience, and premium consumption demands [3]. - The innovation practices of these agricultural enterprises not only enhance their market competitiveness but also stimulate holiday consumption growth, showcasing the robust vitality and vast development potential of China's agricultural sector [3].

Group 1 - The latest price of live pigs on February 4 is 12.85 yuan per kilogram, reflecting a 12.72% increase over the last 60 days [1][2] - Related producers include companies such as Jijing Zhino (000048), Zhenghong Technology (000702), Luoniushan (000735), and others [1][2] Group 2 - Cyclical stocks refer to publicly listed companies that produce raw materials, with their profits significantly affected by fluctuations in raw material prices [3] - Utilizing the price fluctuation data from the business community to identify buying signals for cyclical stocks before quarterly and annual reports is an important investment strategy [3]