格隆汇1月20日丨普莱柯(603566.SH)公布，经公司财务部门初步测算，预计2025年年度实现归属于母公 司所有者的净利润为17,600.00万元到19,500.00万元，同比上升89.64%到110.11%。预计2025年年度实现 归属于母公司所有者的扣除非经常性损益的净利润为13,700.00万元到15,300.00万元，同比上升70.19% 到90.07%。 报告期，禽腺病毒系列联苗等新产品上市为公司贡献了新的业绩增长点，宠物板块通过持续发力渠道搭 建和品牌打造进而取得了快速发展。2025年，面对行业竞争加剧、价格承压以及下游养殖行情波动等不 利因素，公司聚焦营销体系变革，加强销售费用管控，同时优化生产工艺和采购管理，进一步降低生产 成本，整体展现了较强的经营韧性，实现了高质量、高效益发展的经营目标。 ...

普莱柯公告称，预计2025年年度实现归属于母公司所有者的净利润1.76亿元到1.95亿元，同比上升 89.64%到110.11%；扣非净利润1.37亿元到1.53亿元，同比上升70.19%到90.07%。上年同期，公司归母 净利润9280.65万元，扣非净利润8049.70万元。业绩预增主要因禽腺病毒系列联苗等新产品上市，宠物 板块发展良好，且公司聚焦营销变革、降本增效。本次业绩预告为初步测算数据，未经审计。 ...

Market Overview - The animal health sector increased by 3.21% on January 19, with Huisheng Biological leading the gains [1] - The Shanghai Composite Index closed at 4114.0, up 0.29%, while the Shenzhen Component Index closed at 14294.05, up 0.09% [1] Stock Performance - Huisheng Biological (300871) closed at 28.16, up 8.18% with a trading volume of 331,800 shares [1] - Zhongmu Co., Ltd. (600195) closed at 8.49, up 7.88% with a trading volume of 435,600 shares [1] - Other notable performers include: - Biological Co. (600201) at 18.28, up 3.80% [1] - Jinhai Biological (002688) at 6.45, up 3.53% [1] - Shunlian Biological (688098) at 9.91, up 3.23% [1] Capital Flow - The animal health sector saw a net inflow of 175 million yuan from institutional investors, while retail investors experienced a net outflow of 171 million yuan [2] - The main capital flow details include: - Huisheng Biological had a net outflow of 59.49 million yuan from institutional investors [3] - Biological Co. had a net inflow of 58.13 million yuan from institutional investors [3] - Jinhai Biological experienced a net inflow of 35.35 million yuan from institutional investors [3]

Investment Rating - Industry Rating: Recommended [3] Core Insights - The pork price is rising due to the peak consumption season, and there is an expectation for accelerated destocking after the holiday [2][12] - The Ministry of Agriculture and Rural Affairs emphasizes the importance of agricultural modernization and the commercialization of genetically modified crops to enhance yield and self-sufficiency [1][11] - The report highlights the profitability recovery in pig farming, with self-breeding and purchased piglets turning profitable, indicating a short-term challenge for capacity destocking [2][12] Summary by Sections Planting Industry Chain - The Ministry of Agriculture and Rural Affairs is supporting Shandong Province in enhancing grain production and agricultural modernization, focusing on rural revitalization and technological innovation [1][11] - Key recommended stocks in the planting sector include Beidahuang and Suqian Agricultural Development, with a focus on leading seed companies like Dabeinong and Longping High-Tech [1][11] Swine Farming - The average price of live pigs is 12.72 CNY/kg, with a week-on-week increase of 1.26%. The number of breeding sows is 39.9 million, showing a decrease of 1.1% month-on-month and 2.1% year-on-year [2][12] - The report suggests focusing on companies with significant cost improvements and high future output elasticity, including stocks like Muyuan Foods and Wens Foodstuffs [2][12] Key Agricultural Product Data Tracking - Corn: The average price is 2359.57 CNY/ton, with a week-on-week increase of 0.26% [24] - Wheat: The average price is 2513.57 CNY/ton, remaining stable week-on-week [27] - Soybeans: The average price is 4053.16 CNY/ton, with a slight increase of 0.12% [38] - Cotton: The average price is 15640.00 CNY/ton, with a week-on-week increase of 0.18% [43]

Investment Rating - Industry rating: Recommended [3] Core Insights - The pork price is rising due to the peak consumption season, and there is an expectation for accelerated destocking after the holiday [2][12] - The Ministry of Agriculture and Rural Affairs emphasizes the importance of agricultural modernization and the commercialization of genetically modified crops to enhance yield and self-sufficiency [1][11] - The report highlights the profitability recovery in pig farming, with self-breeding and purchased piglets turning profitable, indicating a short-term challenge for capacity destocking [2][12] Summary by Sections Planting Industry Chain - The Ministry of Agriculture and Rural Affairs is supporting Shandong province in enhancing grain production and agricultural modernization, focusing on technology and innovation [1][11] - Key recommended stocks in the planting sector include Beidahuang and Suqian Agricultural Development, with a focus on genetically modified seed companies like Dabeinong and Longping High-Tech [1][11] Swine Farming - The average price of live pigs is 12.72 CNY/kg, with a week-on-week increase of 1.26% [2][12] - The number of breeding sows is 39.9 million, showing a decrease of 1.1% month-on-month and 2.1% year-on-year, indicating a steady adjustment in production capacity [2][12] - Recommended stocks in the swine sector include Muyuan Foods, WH Group, and others, with a focus on companies that show significant cost improvements and high future output elasticity [2][12]

Core Insights - The report highlights a rebound in pork prices during the consumption peak season, with the average price of lean pigs at 12.49 CNY/kg, up 2.6% week-on-week but down 22.7% year-on-year [6][14]. - The report emphasizes the growth potential of leading feed companies expanding overseas, suggesting a focus on their international business growth [6][16]. Livestock Farming - The average price of 6.5 kg piglets has risen to 330 CNY/head, reflecting a 7.5% week-on-week increase, indicating a positive outlook among farmers for pork prices in the second half of the year [6][14]. - Major recommended companies in the livestock sector include Wen's Food Group and Muyuan Foods, with attention also on Dekang Agriculture and New Hope [6][14]. - The report notes that the industry is in a "tug-of-war" state, with companies possessing cost advantages having a significant competitive edge [6][14]. Dairy Industry - The current price of fresh milk in major production areas is 3.02 CNY/kg, down 0.3% week-on-week and 3.2% year-on-year, while some regions see prices rebounding to 3.3-3.4 CNY/kg [15]. - The report anticipates a continued upward trend in beef prices due to supply constraints, recommending companies like Yuran Dairy and Modern Dairy [15]. Feed and Animal Health - Prices for common and specialty fish and shrimp have continued to rise, driven by tight supply and increased demand as the Spring Festival approaches [16]. - The report suggests that leading feed companies are likely to see market share growth due to their comprehensive advantages, with a focus on international expansion [16]. - In the animal health sector, companies are expanding into pet healthcare, with recommendations for companies like Keqian Biological and Princely Biological [16]. Agricultural Sector - The report indicates that the domestic corn price is 2364 CNY/ton, up 0.5% week-on-week, while soybean meal prices are at 3196 CNY/ton, down 0.9% [18][44]. - The report highlights the importance of biotechnology advancements and industry consolidation in the seed sector, recommending companies like Suqian Agricultural Development and Beidahuang [18]. Market Performance - The agricultural sector underperformed the market by 2.7 percentage points, with the animal health sector showing a 1.2% increase [22]. - The report notes that the livestock sector is experiencing a recovery in profitability, with self-bred pigs showing a profit of 7.39 CNY/head [24].

Group 1 - The core viewpoint of the article highlights the significant role of AI technology in enhancing the efficiency of key processes in the development of gene-engineered vaccines, such as structural prediction of recombinant proteins, antigen screening, and expression [2] Group 2 - The company, Pulaike, responded to investor inquiries on an interactive platform, emphasizing the importance of AI in vaccine research and development [2]

Core Viewpoint - The animal health sector experienced a rise of 0.93% on January 16, with leading gains from BioShares, while the overall market indices showed slight declines [1]. Group 1: Market Performance - The Shanghai Composite Index closed at 4101.91, down 0.26% [1]. - The Shenzhen Component Index closed at 14281.08, down 0.18% [1]. Group 2: Individual Stock Performance - BioShares (600201) led the gains with a closing price of 17.61, up 3.53%, and a trading volume of 480,000 shares, amounting to a transaction value of 840 million yuan [1]. - Other notable performers included: - Huisheng Bio (300871) at 26.03, up 1.36%, with a transaction value of 434 million yuan [1]. - Xianfeng Holdings (002141) at 3.76, up 1.35%, with a transaction value of 8.13 million yuan [1]. - Ruipu Bio (300119) at 20.15, up 0.90%, with a transaction value of 110 million yuan [1]. - Shunlian Bio (688098) at 9.60, up 0.63%, with a transaction value of 40.84 million yuan [1]. Group 3: Capital Flow - The animal health sector saw a net inflow of 112 million yuan from institutional investors, while retail investors experienced a net outflow of 68.65 million yuan [2]. - The capital flow for individual stocks showed: - BioShares had a net inflow of 75.95 million yuan from institutional investors [3]. - Huisheng Bio had a net inflow of 19.63 million yuan from institutional investors [3]. - Xianfeng Holdings had a net inflow of 16.40 million yuan from institutional investors [3].

Core Viewpoint - The announcement details the expected daily related transactions for 2026 by Pulaike Biological Engineering Co., Ltd., emphasizing that these transactions are necessary for the company's operations and will not harm the interests of shareholders, particularly minority shareholders [2][3]. Group 1: Daily Related Transactions Overview - The estimated amount for daily related transactions in 2026 is 39.24 million yuan, accounting for 1.49% of the audited net assets for 2024, and does not require shareholder meeting approval [3]. - The board of directors, including independent directors, has reviewed and approved the proposal, confirming that the transactions are fair and reasonable, and will not affect the company's independence or ongoing operations [3][14]. Group 2: Related Parties and Relationships - The related parties include several pet hospitals and clinics, all controlled by a parent company, with the actual controller of Pulaike also controlling these entities, establishing a clear related party relationship [7][11]. - Other related parties include Zhongke Gene and its subsidiaries, which are also under the same actual control as Pulaike, further solidifying the interconnectedness of these entities [9][11]. Group 3: Transaction Details and Pricing Policies - The main content of the daily transactions includes the sale of goods, provision of leasing services, purchase of goods, and acceptance of labor services, with pricing based on market rates or cost-plus methods to ensure fairness [13]. - The transactions are designed to meet the company's operational needs and are executed in accordance with relevant contracts, ensuring that they do not harm the company's interests or financial status [14].

Market Overview - The animal health sector experienced a decline of 0.16% on January 15, with the driving force leading the drop [1] - The Shanghai Composite Index closed at 4112.6, down 0.33%, while the Shenzhen Component Index closed at 14306.73, up 0.41% [1] Individual Stock Performance - The following stocks in the animal health sector showed notable performance: - *ST Lvkang (002868)*: Closed at 37.13, up 5.01% with a trading volume of 32,900 shares and a turnover of 120 million yuan [1] - Jinhe Biology (002688): Closed at 6.34, up 1.28% with a trading volume of 329,000 shares and a turnover of 207 million yuan [1] - Huisheng Biology (300871): Closed at 25.68, up 0.63% with a trading volume of 188,300 shares and a turnover of 489 million yuan [1] - Other stocks like Pulaike (603566) and Ruipu Biology (300119) also showed slight increases [1] Capital Flow Analysis - The animal health sector saw a net outflow of 32.17 million yuan from institutional investors, while retail investors had a net inflow of 44.53 million yuan [2] - The following stocks had significant capital flow: - Jinhe Biology (002688): Net inflow of 13.58 million yuan from institutional investors, but net outflows from retail investors [3] - *ST Lvkang (002868)*: Net inflow of 6.86 million yuan from institutional investors, with outflows from retail investors [3] - Other stocks like Shenglian Biology (688098) and Driving Force (920275) experienced net outflows from both institutional and retail investors [3]