Group 1: Seed Industry Segment - The company's market share for the traits corresponding to actual planting area is approximately 60% in 2024, with expectations to further increase in 2025 [2] - The company is the only domestic enterprise with formal planting licenses in Brazil, Argentina, and Uruguay, currently implementing the "Technology Export, Grain Import" strategy [3] - The total area for soybean planting in China is around 15 million hectares, requiring approximately 500,000 hectares for seed production [4] Group 2: Pig Farming Segment - In 2024, the total number of pigs slaughtered by the company (including subsidiaries) was 6.405 million, representing a year-on-year growth of 5.9% [6] - The complete cost of fattening pigs as of March 2025 is 12.9 CNY/kg, with a target for further cost reduction [7] Group 3: Feed Segment - The company has significant technical reserves in low-protein diets and can fully replace soybean meal with other protein sources when prices are high [8] - The company is exploring regional industrial chain collaboration to maximize overall efficiency and has established a comprehensive management and supply chain platform [8] Group 4: Other Aspects - The company emphasizes operational management and market value maintenance, implementing measures such as executive stock purchases and profit distribution to share growth dividends with investors [10] - The company aims to be a global leader by 2035, focusing on technological innovation in agricultural development [10] - Sales and management expenses showed a significant decline in 2024, with sales expenses down by 11.31% and management expenses down by 8.46% [11]

Group 1 - Huazhi Biotechnology Co., Ltd. is collaborating with Pakistan to transfer molecular breeding technology, aiming to establish a national-level molecular breeding joint laboratory in Pakistan [1][3] - A memorandum of understanding was signed among Huazhi Biotechnology, Beijing Jiaolong Technology Co., Ltd., and Hassan Trading Company for comprehensive cooperation in the field of molecular-assisted breeding [1] - The cooperation will involve sharing germplasm resource databases and utilizing Huazhi's "genotype-phenotype" big data platform to aggregate superior genes [1] Group 2 - The collaboration is expected to enhance Pakistan's agricultural system, enabling the cultivation of "future seeds" that are resilient to climate change, thereby significantly increasing food production and farmers' income [1][2] - Huazhi Biotechnology aims to help Pakistan overcome breeding bottlenecks through technology sharing and promote the international application of China's seed industry "chip" technology [2] - Huazhi Biotechnology is a national-level molecular breeding platform guided by the Ministry of Agriculture and Rural Affairs, established in collaboration with leading seed companies [3]

截至2025年5月8日 10:40，中证畜牧养殖指数(930707)下跌0.21%。成分股方面涨跌互现，生物股份(600201)领涨2.30%，溢多利(300381)上涨1.61%，天马科 技(603668)上涨0.76%；梅花生物(600873)领跌1.28%，大北农(002385)下跌0.95%，神农集团(605296)下跌0.91%。 养殖ETF(516760)下跌0.32%，最新报价0.62元。 此外，农林牧渔行业债券发行人中有13家去年净利润同比增长，表现较好的两家为猪企，即温氏股份和牧原股份，净利润分别增长250.43%和554.07%。 财通证券认为，猪价震荡偏弱。前期产能回补传导，叠加二育和大猪陆续出栏，持续关注后续供应压力释放节奏，或有开启下一轮产能去化的可能。 数据显示，截至2025年4月30日，中证畜牧养殖指数(930707)前十大权重股分别为海大集团(002311)、牧原股份(002714)、温氏股份(300498)、梅花生物 (600873)、新希望(000876)、大北农(002385)、圣农发展(002299)、生物股份(600201)、天康生物(002100)、唐人神(0025 ...

Group 1: Core Breeding and Sales - The company operates three core breeding farms and four binary breeding farms, ranking first nationally in Duroc pig breeding for several years [1] - The company focuses on balanced breeding to improve growth speed and reproductive performance, aiming to shorten the time to market and enhance barn utilization [1] - The company anticipates that the current price of piglets will remain stable until October, with a low likelihood of prices falling below cost during the off-season [1] Group 2: Feed Sales and Market Dynamics - The feed distributor primarily sells pig feed to local smallholders, with sales volume around 1,200 tons per month, peaking at 1,400-1,500 tons [1] - The distributor notes a decline in self-breeding households due to stricter environmental regulations [1] Group 3: Pig Raising and Market Conditions - The contract farmer in Sichuan raises 7,000 pigs across two farms, with a total raising fee of approximately 220 yuan per pig [2] - The farmer highlights significant issues with piglet diarrhea affecting growth rates, leading to a desire for heavier pigs among both smallholders and larger farms [2] - A breeding company with a 200-head boar station believes piglet prices will remain high, with traditional seasonal price increases expected [2] Group 4: Trade and Supply Chain - A trading company focuses on pig trade, moving 5-6 trucks of pigs to slaughterhouses daily, with peak volumes reaching 30-40 trucks [3] - The company observes a stable price for piglets, predicting limited price increases but a potential decline after the end of the second fattening phase [3] - Another trading firm has shifted focus to piglet trade and reports increased supply of heavier pigs post-Qingming Festival, while anticipating a potential price drop for piglets [3] Group 5: Fattening and Market Impact - A company with 10,000 fattening pigs has cleared its stock, with an average weight of 120 kg per pig, and a feed-to-meat ratio of 2.5-2.6 [3] - The company indicates that if prices for second fattening pigs drop below 7 yuan/kg, it will consider restocking or fattening pigs [3] - The company believes that second fattening will significantly impact this year's pig market [3]

图为管理员陈灏宇在培养室观察蔗苗生长情况。 本报记者 张云河摄 广西崇左市新和镇新村村那糯屯，蔗田里一"瘦"一"胖"两株甘蔗前，站着俩人，一愁一喜。 瞅了半天，村民马立彪终于认输："你这苗确实更壮。" 王伦旺掰着手指，给自留种亮出4张"红牌"——种苗质量差、繁育速度慢、繁种用地多、种茎用量大。 "脱毒后的甘蔗良种得到提纯复壮，工厂化繁殖速度更快，效率更高。"王伦旺说。 新和镇的广西甘蔗脱毒种苗研发中心，脱毒苗培养基自动生产线前，管理员陈灏宇正在仔细检查。"我 们这是崇左的独一份！"年轻人言语间带着骄傲。 在一间培养室里，53个培养架，小罐子排得满满当当，有5万多瓶。罐子里，嫩绿的甘蔗苗静静地吸收 着营养。透过培养瓶，可以清晰地观察到每株幼苗的生长状态。研发中心落地刚半年，已有年产5000万 株的培苗能力。 脱毒种苗有何优势？广西农科院甘蔗研究所所长吴建明说："与自留种比，用种更少，以前每亩用种七 八千芽，现在约5000芽；用地更少，省一半；速度更快，6至8个月可培育出生产所需要的量……" 甘蔗育种育苗的道路上，新技术方兴未艾。从事甘蔗育种育苗38年，王伦旺特别有感触。最新应用的技 术成果是"抠芽育苗"方法。传 ...

放眼望去，斯诺登尼亚国家森林公园山脉连绵，梅奈海峡海岸壮观。这里是位于英国威尔士北部的沿海 城镇班戈。在位于这里的班戈大学，王梦逍度过了几年的大学时光，攻读市场营销专业。 大学期间，王梦逍学到了不少较为前沿的经济学、国际贸易学的知识。为了尽快完成老师列出的书单， 她常常带着饭菜，泡在学校的图书馆里。 王梦逍公司培育的月季。 王梦逍（右三）向外国客户介绍月季品种。 本文照片均由受访者提供 很多人心中都有一座"秘密花园"，这里布局精妙，鲜花绽放，风景如画，如童话故事一般。而如此梦幻 的场景，对于河北省邯郸市肥乡区95后海归女孩王梦逍而言，却是她的日常。 王梦逍（左）与参观者检查月季长势。 走进位于肥乡区肥乡镇的邯郸市七彩园林绿化工程有限公司，上千亩月季花竞相开放，红、橙、黄、 粉……娇艳欲滴，沁人心脾。游客们漫步于花丛间，笑容满面，有的举着相机，定格美好瞬间；有的正 精心挑选着心仪的花朵。运输月季苗木的车辆往来穿梭，发货区内，工人们正争分夺秒地往车上装载打 包好的月季。 来自海外的上千个品种的月季花，在这里经过严格筛选和杂交育种，留下了更适合中国栽种的优质品 种。"现在国内很多城市绿化做得很发达了，但是开花受季节 ...

Investment Rating - Industry rating: Outperform the market (maintained rating) [17] Core Views - The pig farming sector shows significant profitability but with large variances due to cost differences, leading to a stronger performance from leading companies [19][21] - The poultry sector is experiencing a structural adjustment with varying profitability across different types of chickens, indicating a potential bottoming out in the white chicken segment [22][26] - The seed industry faces inventory pressure, but the biotechnological breeding sector is expected to accelerate due to supportive policies [29][30] - The pet industry is witnessing rapid growth of domestic brands, with a focus on high-income growth companies [32][33] - The feed sector is recommended for investment due to improving market demand and continuous performance from leading companies [34] Summary by Sections Pig Farming Sector - Q1 sales prices for most A-share pig companies were between 14.5-15.5 yuan/kg, down from 16-17 yuan/kg in Q4 2024 [19] - Leading companies like Shennong and Juxing saw over 60% year-on-year growth in output [19] - Average profit per pig improved significantly, with Shennong achieving around 300-350 yuan per head [19][21] - Some companies are returning cash to shareholders with dividend payout ratios of 49.6% for Tiankang and 42.4% for Muyuan [19] Poultry Sector - The profitability of white chickens is narrowing, with major companies reporting significant declines in net profits [22] - The supply of parent stock is at a five-year low, indicating a potential for price increases as demand recovers [26] - Investment recommendations include focusing on companies like Shengnong Development and Yisheng [25][26] Seed Industry - The seed sector's net profit dropped by 37.6% in Q1 2025 due to oversupply, with leading companies showing varied performance [29] - High R&D investment continues, with a focus on biotechnological advancements expected to enhance competitiveness [30][31] Pet Industry - Major pet food companies reported strong revenue growth, with significant increases in net profits for companies like Guibao Pet and Zhongchong [32] - The demand for senior pet care products is rising, indicating a shift in consumer preferences [32] Feed Sector - Haida Group is highlighted for its market share growth and improving financial performance, with Q1 revenues up by 10.6% [34] - The aquaculture feed market is expected to improve due to rising fish prices and supportive consumption policies [34] Animal Health Sector - The animal health sector is experiencing revenue and profit differentiation, with some companies like Huisheng showing over 50% growth [35] - Investment focus is on new product lines and the potential for pet health products to capture market share [35][36]

投资者关系 活动类别 特定对象调研 分析师会议 媒体采访 业绩说明会 新闻发布会 路演活动 现场参观 其他 参与单位名称 及人员姓名 中信证券、中金公司、华创证券、华安证券等 25 家机构 33 位投资者， 部分名单详见附件清单。 重要提示：参会人员名单由组织机构提供并经整理后展示。公司无法保 证参会人员及其单位名称的完整性、准确性，请投资者注意。 时间 2025 年 4 月 30 日（周三）15:00-16:00 方式 电话会议 上市公司接待 人员姓名 副董事长：张立忠先生 董事、总裁：谈松林先生 董事：邵丽君女士 财务总监：姜晗女士 董事会秘书：尹伟先生 创种科技副总裁：李军民女士 证券代码：002385 证券简称：大北农 北京大北农科技集团股份有限公司 投资者关系活动记录表 编号： 2025-001 | | 一、2024 年整体情况概览 | | --- | --- | | | 1、营收利润方面 | | | 2024 年，公司实现营业收入 287.67 亿元，其中：饲料产品收入 190.54 | | | 亿元，占营收比重为 66.24%；控股公司生猪产品收入 亿元，占营收比 62.78 | | | 重为 ...

Investment Rating - Industry rating: Outperform the market (maintained rating) [15] Core Views - The pig farming sector shows significant profitability but with large disparities due to cost differences, leading to a "stronger becoming stronger" scenario [19][21] - The poultry sector is experiencing a structural decline in production capacity, with a focus on the white chicken segment as it approaches its lowest point [22][24] - The seed industry faces inventory pressure, but the biological breeding sector is expected to accelerate due to supportive policies [29][30] - The pet industry is witnessing rapid growth of domestic brands, with a focus on high-income growth companies [32][33] - The feed sector is recommended for investment due to improving market demand and cost control capabilities [34] Summary by Sections Pig Farming Sector - Q1 sales prices for pigs were low, averaging 14.5-15.5 CNY/kg, down from 16-17 CNY/kg in Q4 2024 [19] - Companies like Shennong and Juxing saw over 60% year-on-year growth in output [19] - Average profit per pig improved significantly, with leading companies achieving profits of 300-350 CNY per head [19][21] - Some companies are returning cash to shareholders with high dividend payout ratios [19] Poultry Sector - The white chicken segment is under pressure, with significant price declines and narrowing profits [22] - The egg-laying chicken sector is benefiting from rising chick prices and sales, with companies like Xiaoming showing substantial profit growth [28] - The yellow chicken segment is experiencing a supply contraction, with demand expected to improve gradually [26][27] Seed Industry - The seed sector is under pressure with a net profit decline of 37.6% in Q1, primarily due to excess supply [29] - High R&D investment is noted, with leading companies like Longping High-Tech maintaining a strong position [29][30] - New regulations are expected to bolster the biological breeding sector, enhancing competitiveness [30][31] Pet Industry - Major pet food companies reported strong revenue growth, with brands like Maifudi leading the market [32] - The demand for elderly pet care products is increasing significantly, indicating a shift in consumer preferences [32] - The pet economy is thriving, with a focus on high-growth domestic brands [33] Feed Sector - The feed sector is recommended for investment, with companies like Haida Group showing improved revenue and profit [34] - The market for aquaculture feed is expected to recover, driven by rising fish prices and supportive consumption policies [34] Animal Health Sector - The animal health sector is experiencing revenue and profit differentiation, with some companies benefiting from price increases in raw materials [35] - New product opportunities in the pet health segment are emerging, providing potential growth avenues [35][36]

我国强耐盐水稻育种材料创制与品种培育取得重要进展 耐受千分之十盐浓度新育种材料在三亚成功创制 "当前在3‰—5‰盐胁迫或pH8.0—9.0碱胁迫条件下可适种的耐盐碱水稻新品种已陆续产出,但在超 过7‰盐胁迫下的耐盐碱材料选育仍是学界难题。"国创中心主任唐文帮表示,高耐盐材料选育将有助于 推动"亿亩荒滩变粮仓",实现"藏粮于地、藏粮于技"国家粮食战略。 据悉,国创中心总部设在三亚崖州湾科技城高新区,该中心以耐盐碱水稻核心种质创制、耐盐碱水稻 重要品种培育为核心,构建耐盐碱水稻前沿引领技术、关键共性技术研发与应用体系。近五年来该中心 已有"华荃优187""盐稻21号""中科盐4号""南粳盐1号""旌7优42"等11个品种通过审定,其中,2023年培育出 我国第一个通过审定的耐盐不育系"盐416S"。 海南日报讯（海南日报全媒体记者 黄媛艳）海南日报全媒体记者近日从国家耐盐碱水稻技术创新 中心(以下简称国创中心)获悉,该中心创制出耐受10‰盐浓度的新育种材料。 国创中心团队通过筛选耐盐碱优异种质资源,正反向遗传学手段共鉴定到6个正向调控耐盐基因,8个 负调控耐盐基因,1个主效耐碱基因,挖掘出显著提高水稻耐盐碱的关键 ...