Investment Rating - The report maintains an investment rating of "Outperform the Market" for the agriculture, forestry, animal husbandry, and fishery industry [4]. Core Insights - The poultry prices have stopped declining and are rebounding, supported by the release of the "Accelerating the Construction of an Agricultural Power Plan" [4]. - The report highlights that the industry is currently at a relatively low valuation compared to historical averages, indicating potential for valuation recovery [4]. Summary by Sections Market Review - In March 2025, the agriculture, forestry, animal husbandry, and fishery index rose by 2.44%, outperforming the Shanghai and Shenzhen 300 index, which fell by 0.07% [7][10]. - The animal health sector showed the highest growth, while the seed industry faced declines [10]. Livestock Farming Data Tracking - In March 2025, the average price of live pigs was 14.75 yuan/kg, with a slight month-on-month decline of 0.78% and a year-on-year decline of 0.03% [15][22]. - The average price of white feather broiler chicks was 2.88 yuan/chick, reflecting a month-on-month increase of 0.66 yuan/chick [24][27]. - The report notes a rebound in chicken prices due to improved market conditions and reduced cost pressures [27][29]. Policy Insights - The "Accelerating the Construction of an Agricultural Power Plan (2024-2035)" emphasizes the need for independent innovation in seed industry and the implementation of major biological breeding projects [31][32]. - The plan aims for significant progress in agricultural modernization by 2027 and substantial achievements by 2035 [31]. Major Agricultural Product Price Tracking - The report provides insights into the price trends of key agricultural products, indicating a strong fluctuation in corn and wheat prices [33][34]. Industry Dynamics and Company News - The report tracks significant events in the industry, including government initiatives to support agricultural development and the performance of listed companies in the sector [39][41].

1 、 《 中国及31省市生物育种行业政策汇总 》摘要 ■ 为落实《"十四五"全国现代种业发展规划》与《"十四五"现代种业提升工程建设规划》，农业农村 部发布了《关于加快推进种业基地现代化建设的指导意见》。 ■ 地方政府响应国家规划，纷纷出台细化政策，形成区域性发展特色，支持生物育种全链条发展。 为20%。 ■ 2025年，特斯拉目标将FSD（完全自动驾驶）扩展到欧洲和中国；新势力车企将注重智能化平权和 智能驾驶下沉，尤其是小鹏、零跑等推低价车型以普及高阶智能驾驶。 ■ 预计2025年中国电动车销量增长25%，达到1600万辆，同时全球储能需求增长35%-40%，锂电需 求增长近30%。 3、 《 4月债市耐心等待做多窗口到来》摘要 ■ 市场对央行操作变化较为敏感，特别是资金面的边际转松与银行负债压力的缓解，限制了收益率的 上行空间。 ■ 央行调整了MLF（中期借贷便利）招标方式，这有望降低银行负债成本并缓解净息差压力，但没有 统一的中标利率，也避免了市场误解为降息信号。 ■ 央行近期辟谣降息，强调降成本和稳债市的目标，显示短期内不会出现降息周期逆转，但仍保持稳 债市的政策立场。 ■ 4月起，部分消费贷产品的 ...

The provided content does not include any specific quantitative models or factors, nor does it provide details about their construction, evaluation, or backtesting results. The documents primarily focus on market performance, sector and concept index movements, market sentiment, capital flows, ETF premiums/discounts, block trading discounts, and institutional activity. These are descriptive analyses and statistics rather than quantitative models or factor-based methodologies. If you have another document or report that includes quantitative models or factors, please provide it for analysis

Group 1 - Agricultural stocks are performing well, with the seed industry concept leading the gains, as the sector index surged over 13% shortly after opening [4][5] - All stocks within the agricultural sector experienced significant increases, with Qiu Le Seed Industry hitting a 30% limit up and Shen Nong Seed Industry reaching a 20% limit up [5] - The Supreme People's Court has released typical cases for the judicial protection of seed industry intellectual property rights, enhancing protection and providing clearer guidelines for industry participants [7] Group 2 - The chicken concept stocks rebounded, with the sector index rising over 3%, and Xiao Ming Co. hitting a 20% limit up, marking a three-year high [8] - The price of white feather chicken has rebounded by approximately 40% compared to extreme low prices seen a month and a half ago, with current prices around 3.5 yuan per jin [10] - Analysts expect a reduction in poultry imports, which will benefit domestic white feather chicken enterprises, while increased tariffs will raise breeding costs, positively impacting market share and profit margins for related companies [10]

张东刚为叶紫薇（左）送上聘书。图源：中国人民大学 今年29岁的叶紫薇博士毕业于 美国密歇根州立大学 ，毕业后入职人大不到3年，通过战略性人才职称评审学 校提名制度这一超常规方式，"95后"叶紫薇从助理教授破格晋升为教授。 4月2日下午，中国人民大学党委书记张东刚为破格晋升为教授的叶紫薇送上聘书。 校对：祝甜婷 百万用户都在看 刚刚！AI，传出重磅消息！ 今夜，集体拉升！重磅时刻，来袭！ 利好来袭！上海，重磅发布！ 事关降息！重磅来袭！ 午后，突然大跳水！ 刚刚！暴跌超1500点！ 谈到回国任职，叶紫薇表示，农林经济管理学科具有鲜明的实践和问题导向，需要在和政策的联动中推动 学术成果落地，只有身处中国研究和现实发展的大局之中，才能及时感知并解决国家的需求，运用专业知 识为社会发展的大船保驾护航。 中国人民大学强调，从启动提名程序，到召开学院-学部-学校学术委员会，再到学校审议通过，坚持严格 程序和标准。 来源：长安街知事 责编： 王璐璐 在学术研究中，她聚焦农业生物经济方向，尤其关注生物育种技术的经济、环境问题及相关政策研究。她 用交叉学科思维破解农业政策难题，在国际顶尖期刊发表多篇论文，将生物育种经济研究写进 ...

Core Viewpoint - The integration of AI technology in agriculture is transforming various aspects of the industry, enhancing efficiency in breeding, farming, and marketing processes, while also addressing challenges related to data complexity and profitability [2][9]. Group 1: AI in Breeding - AI-powered breeding robots are replacing traditional methods, allowing for faster identification of high-yield and disease-resistant plant traits, thus shortening the breeding cycle [3][4]. - The use of AI models in breeding can significantly reduce the number of plants needing laboratory testing, streamlining the research process [4][5]. - Breeding is crucial for agricultural development, with AI expected to enhance food security by enabling crops to thrive in harsh environments [5]. Group 2: AI in Farming Operations - AI technologies are revolutionizing farming practices by automating tasks such as path planning and pest detection, leading to increased productivity and reduced labor costs [6]. - The deployment of AI in agriculture has led to a significant increase in crop yields, with farmers reporting substantial improvements in production efficiency [6]. Group 3: AI in Supply Chain and Marketing - AI is enhancing the entire agricultural supply chain, from production to marketing, by optimizing processes such as sorting, grading, and inventory management [7][8]. - E-commerce platforms are utilizing AI tools to improve marketing strategies, reduce costs, and enhance operational efficiency for farmers [8]. Group 4: Challenges and Future Outlook - The agricultural sector faces challenges in data quality and integration, which are critical for the successful implementation of AI technologies [9][10]. - The role of farmers is expected to evolve into that of managers overseeing AI systems, shifting the perception of farming to a more technology-driven profession [10].

报告摘要 本周猪价上涨 根据博亚和讯，3月21日全国外三元生猪均价为14.71元/kg，周环比+0.96%，15公斤仔猪均价35.41元/公 斤，周环比上涨3.90%。根据涌益咨询数据，本周商品猪出栏均重为128.40kg，周环比上升0.48kg。屠宰场 冻品库容率为14.31%，环比上升0.55pct。补库带动的均重上升以及肥标价差收敛仍在持续，需求疲软抑制 价格上行，短期内猪价仍将维持窄幅震荡。 2025中国种子大会归来，如何看待行业热点与发展趋势 点击注册小程序 查看完整报告 特别申明： 本订阅号中所涉及的证券研究信息由光大证券研究所编写，仅面向光大证券专业投资者客户，用作新媒体形势下研究 信息和研究观点的沟通交流。非光大证券专业投资者客户，请勿订阅、接收或使用本订阅号中的任何信息。本订阅号 难以设置访问权限，若给您造成不便，敬请谅解。光大证券研究所不会因关注、收到或阅读本订阅号推送内容而视相 关人员为光大证券的客户。 （1）热点育种方向：在种质创新的基础上，利用生物育种技术结合常规育种，具体来看，主粮育种重点 方向包括1）水稻：抗稻飞虱、超高产绿色、耐极端高温、耐盐碱、特早熟等；2）小麦：抗赤霉病、养 ...

证券研究报告：农林牧渔|行业周报 行业投资评级 强于大市|维持 行业基本情况 收盘点位 2556.61 52 周最高 2927.53 52 周最低 2110.64 行业相对指数表现 -19% -15% -11% -7% -3% 1% 5% 9% 13% 17% 2024-03 2024-05 2024-08 2024-10 2024-12 2025-03 农林牧渔 沪深300 资料来源：聚源，中邮证券研究所 研究所 分析师:王琦 SAC 登记编号:S1340522100001 Email:wangqi2022@cnpsec.com 近期研究报告 《猪价窄幅震荡，白鸡引种开辟新渠 道》 - 2025.03.11 农林牧渔行业报告 生猪供需博弈僵持，白鸡价格反弹 ⚫ 行情回顾：大幅反弹 上周申万农林牧渔行业指数涨 2.84%，在申万 31 个一级行业中 涨幅排名第 8 位。农业主要子行业全面反弹，其中前期跌幅较深的 肉鸡养殖、生猪养殖板块分别上涨 4.83%、2.93%。 ⚫ 猪：窄幅震荡 猪价持续在区间震荡。本周全国生猪均价 14.52 元/公斤，较上 周几乎持平。同时近期出栏体重依然处于历史低位、肥标价差收 ...

证券简称： 康农种业 证券代码： 837403 湖北省宜昌市长阳经济开发区长阳大道 553 号 湖北康农种业股份有限公司 湖北康农种业股份有限公司招股说明书（申报稿） 本公司的发行申请尚未经中国证监会注册。本招股说明书申报稿不具有据以发行股票的法律效 力，投资者应当以正式公告的招股说明书全文作为投资决定的依据。 本次股票发行后拟在北京证券交易所上市，该市场具有较高的投资风险。北京证券交易所主要 服务创新型中小企业，上市公司具有经营风险高、业绩不稳定、退市风险高等特点，投资者面临较 大的市场风险。投资者应充分了解北京证券交易所市场的投资风险及本公司所披露的风险因素，审 慎作出投资决定。 保荐机构（主承销商） （北京市西城区武定侯街 6 号卓著中心 10 层） 二零二三年九月 中国证监会和北京证券交易所对本次发行所作的任何决定或意见，均不表明其对注册申 请文件及所披露信息的真实性、准确性、完整性作出保证，也不表明其对发行人的盈利能力、 投资价值或者对投资者的收益作出实质性判断或者保证。任何与之相反的声明均属虚假不实 陈述。 根据《证券法》的规定，股票依法发行后，发行人经营与收益的变化，由发行人自行负 责；投资者自 ...

湖北省宜昌市长阳经济开发区长阳大道 553 号 湖北康农种业股份有限公司 湖北康农种业股份有限公司招股说明书（申报稿） 本公司的发行申请尚未经中国证监会注册。本招股说明书申报稿不具有据以发行股票的法律效 力，投资者应当以正式公告的招股说明书全文作为投资决定的依据。 本次股票发行后拟在北京证券交易所上市，该市场具有较高的投资风险。北京证券交易所主要 服务创新型中小企业，上市公司具有经营风险高、业绩不稳定、退市风险高等特点，投资者面临较 大的市场风险。投资者应充分了解北京证券交易所市场的投资风险及本公司所披露的风险因素，审 慎作出投资决定。 保荐机构（主承销商） （北京市西城区武定侯街 6 号卓著中心 10 层） 二零二三年四月 证券简称： 康农种业 证券代码： 837403 中国证监会和北京证券交易所对本次发行所作的任何决定或意见，均不表明其对注册申 请文件及所披露信息的真实性、准确性、完整性作出保证，也不表明其对发行人的盈利能力、 投资价值或者对投资者的收益作出实质性判断或者保证。任何与之相反的声明均属虚假不实 陈述。 根据《证券法》的规定，股票依法发行后，发行人经营与收益的变化，由发行人自行负 责；投资者自 ...