央视网消息：海鲜是不少家庭节日餐桌必不可少的美食，"五一"假期，市场上琳琅满目的海鲜迎来消费高峰。从海边到餐桌，作为中转站 的海鲜市场，正跑出抢"鲜"上市的加速度。 福建马尾海峡水产品交易中心是全国最大的水产现货交易市场之一，这里每天交易的品种超过300种。 放眼全国大市场，生蚝发货量在排名前五的省份都稳居第一，可谓是名副其实的"明星海鲜"，山东乳山、广东湛江、福建诏安等地盛产的 生蚝已经成为知名品牌。除此之外，海螺、贝壳、花甲、花蛤等海鲜也成为"五一"餐桌上的常客。 此外，西部地区中，成都、乌鲁木齐、银川等城市的海鲜消费量也名列前茅。 生鲜"奔"向草原牧区 物流养殖双"给力" 不仅沿海地区，内陆城市海鲜市场也迎来一波消费热潮。凌晨2点半的北京大红门京深海鲜批发市场，记者看到进场的车辆络绎不绝，物 流停车场也停满了正在卸货的货车。 排队的冷链物流车来到卸货地点后，市场商户以最快速度卸货，转运上车，拉回店铺。从凌晨三点开始，这些海鲜陆续由物流运走，上午 九点就已经所剩无几。 大数据看消费活力：热销海鲜流向揭秘 物流平台最新数据显示，今年1—4月，我国海产品发货量最大的省份分别为山东、广东、江苏、福建和辽宁，海产 ...

Core Insights - The core strategy of Dingdong Maicai is to build a comprehensive supply chain from farm to table, enhancing its brand visibility and supply chain strength through its own brand "Heizhuanshijia" [1][2] - Dingdong Maicai's shift from merely selling pork to raising pigs represents a significant strategic upgrade, addressing quality concerns and cost control in the black pig market [2][3] Group 1: Market Challenges - The black pig market in China faces structural contradictions between consumer upgrades and industrial imbalances, leading to trust issues and bottlenecks in the industry [4] - Consumers are increasingly concerned about food safety, with frequent food safety issues causing doubts about the quality of black pork, despite its higher price compared to white pork [4][7] - The lack of effective quality identification methods and the misuse of "local pig" labels have contributed to a trust crisis in the black pig industry [4] Group 2: Strategic Moves by Dingdong Maicai - Dingdong Maicai's strategy involves deep collaboration with Gaojin Foods to explore an order-based breeding model, planning to invest in 30,000 specialty black pigs over the next year [10] - The company aims to create a traceable system to ensure the quality and safety of black pigs, addressing consumer trust issues [10][19] - By focusing on consumer data to customize pig specifications and developing high-value products, Dingdong Maicai seeks to maximize the economic value of black pigs [10][15] Group 3: Supply Chain Innovations - Dingdong Maicai's approach includes a transparent supply chain where consumers can trace the entire lifecycle of the pigs, enhancing trust and quality assurance [17][19] - The company has established a "pig chip" barrier through molecular breeding technology, improving lean meat rates and creating detailed product solutions [19] - The integration of cold chain logistics ensures that pork remains fresh and safe, with a commitment to daily sales and no overnight meat [14][20] Group 4: Market Positioning and Consumer Engagement - Dingdong Maicai's "Heizhuanshijia" brand has achieved significant sales, with over 200,000 users and a high rate of repeat customers, indicating strong market acceptance [12] - The company is expanding its offline presence with dedicated stores, allowing consumers to see the quality of the meat firsthand, thus bridging the gap between online and offline experiences [21] - By collaborating with well-known restaurant chains, Dingdong Maicai is positioning itself as a quality supplier in the food service industry, enhancing its market influence [20]

【市场动态】 1、4月29日，生猪注册仓单705手； 另存为PDF 生猪日报 | 2025-04-30 【期价震荡调整】 2、LH2505合约以期现回归、交割博弈为主，远月合约受后续出栏有望增加影响 偏弱运行； 3、主力合约（LH2509）今日减仓421手，持仓约7.29万手，最高价14130元/ 吨，最低价13910元/吨，收盘于13930元/吨。 【基本面分析】 1、能繁母猪存栏量看，3-12月生猪供应量有望逐月增加，但幅度有限。仔猪数 据看，2025年二三季度生猪出栏量整体震荡增加；需求端来看，上半年较下半 年相比属需求淡季，下半年属需求旺季； 2、 从历史情况和现下基本面来看，肥标差仍有回落空间； 3、市场多空逻辑： 空头：①养殖端尚未进行降重，实则利空后市；②后续出栏 量有望持续增加；③二三季度尚未到消费旺季，需求对猪价的支撑有限；多 头：①屠企入库尚未结束能给猪价以支撑；②现货价格坚挺，说明供需不像空 头想的那么宽松；③后续出栏虽有增量但幅度有限，且三四季度逐渐进入生猪 消费旺季；④玉米豆粕涨价可能抬升生猪养殖成本。 【策略建议】 1、观点：短期猪价或震荡，中长期来看猪价或仍有新低可能； 2、核心 ...

Core Viewpoint - The poultry farming industry is experiencing a cautious sentiment regarding restocking due to declining profitability, leading to a decrease in demand for chick prices, which initially rose but are now expected to fall further [1][3][8]. Group 1: Chick Price Trends - In the first quarter, the average price of layer chicks was 4.33 yuan per chick, with a quarter-on-quarter increase of 12.31% and a year-on-year increase of 45.51% [1]. - January saw the highest price in nearly three years at 4.51 yuan per chick, but prices began to decline due to reduced demand from cautious farming units [1][3]. - As of the end of April, the average price of layer chicks was 4.13 yuan per chick, with a maximum decline of 8.43% during the period [1]. Group 2: Profitability and Demand - The gross profit per kilogram of eggs in the first quarter was 0.39 yuan, reflecting a significant quarter-on-quarter decline of 72.92% [3]. - In January, the average gross profit per kilogram of eggs was approximately 1.13 yuan, but this dropped to 0.00 yuan and 0.01 yuan in February and March, respectively, leading to a cautious restocking sentiment among farmers [3]. - By April 24, the average gross profit per kilogram of eggs was only 0.06 yuan, indicating continued low profitability and further reduction in chick demand [3]. Group 3: Future Market Outlook - In May, the demand for eggs is expected to remain relatively high, providing support for egg prices, but June may see a seasonal decline in demand, potentially leading to oversupply and downward pressure on prices [5][8]. - The overall trend for egg prices from May to June is anticipated to be an initial increase followed by a decrease, with feed costs remaining stable and profitability fluctuating [5][8]. - The chick hatching difficulty is expected to increase due to high temperatures, further reducing demand for chicks and leading to a continued decline in chick prices in the second quarter [8].

[Table_Summary] 事件概述 证券研究报告|公司点评报告 [Table_Date] 2025 年 04 月 30 日 [Table_Title] 现金分红比例持续增高，养殖业务未来可期 [Table_Title2] 广弘控股(000529) | [Table_DataInfo] 评级： | 增持 | 股票代码： | 000529 | | --- | --- | --- | --- | | 上次评级： | 增持 | 52 周最高价/最低价： | 8.2/4.76 | | 目标价格： | | 总市值(亿) | 35.03 | | 最新收盘价： | 6 | 自由流通市值(亿) | 34.19 | | | | 自由流通股数(百万) | 569.88 | 公司发布 2024 年年报，报告期内，公司实现营业收入 23.36 亿元，同比-16.29%；实现归母净利润 1.22 亿元， 同比-42.79%。2025Q1，公司实现营业收入 5.09 亿元，同比-8.54%；实现归母净利润 0.14 亿元，同比增长 1.70%。 分析判断: ► 主业稳定，公司近三个会计年度累计分红总额为 2.45 亿元 2024 年 ...

公司点评报告 · 农林牧渔行业 养殖成本改善,25年出栏目标 350-400 万头 2025年4月 30 日 核心观点 | 天康生物(股票代码:002100.SZ) | | | --- | --- | | 维持评级 | 推荐 | | 分析师 | | | 谢芝优 | | | ☎: 021-68597609 | | | 网: xiezhiyou_yj@chinastock.com.cn | | | 分析师登记编码: S0130519020001 | | | 市场数据 | 2025-4-29 | | --- | --- | | 股票代码 | 002100.SZ | | A 股收盘价(元) | 6.24 | | 上证指数 | 3286.65 | | 总股本(万股) | 136,525 | | 实际流通 A 股(万股) | 136,525 | | 流通 A 股市值(亿元) | 85 | | | 2024A | 2025E | 2026E | 2027E | | --- | --- | --- | --- | --- | | 营业收入(百万元) | 17175.81 | 19096.11 | 20289.67 | 222 ...

2025 年 04 月 30 日 养殖成本保持优势地位，产能规模有望延续增长 势头 | 基本数据 | 2025-04-29 | | --- | --- | | 当前股价（元） | 29.21 | | 总市值（亿元） | 153 | | 总股本（百万股） | 525 | | 流通股本（百万股） | 523 | | 52 周价格范围（元） | 24.81-44.99 | | 日均成交额（百万元） | 123.21 | 市场表现 -40 -30 -20 -10 0 10 20 30 (%) 神农集团 沪深300 资料来源：Wind，华鑫证券研究 相关研究 1、《神农集团（605296）：成本优 势地位稳固，定增扩产维持独一档 负债率表现》2025-04-14 2、《神农集团（605296）：业绩实 现高增长，成本优势持续巩固》 2024-08-29 3、《神农集团（605296）：养殖成 本行业领先，出栏量快速增长》 2024-08-07 —神农集团（605296.SH）公司事件点评报告 买入(维持) 事件 | 分析师：娄倩 | S1050524070002 | | --- | --- | | louqian@cf ...

证券研究报告|公司点评报告 [Table_Date] 2025 年 04 月 30 日 [Table_Title] 现金分红比例持续增高，养殖业务未来可期 [Table_Title2] 广弘控股(000529) | [Table_DataInfo] 评级： | 增持 | 股票代码： | 000529 | | --- | --- | --- | --- | | 上次评级： | 增持 | 52 周最高价/最低价： | 8.2/4.76 | | 目标价格： | | 总市值(亿) | 35.03 | | 最新收盘价： | 6 | 自由流通市值(亿) | 34.19 | | | | 自由流通股数(百万) | 569.88 | [Table_Summary] 事件概述 公司发布 2024 年年报，报告期内，公司实现营业收入 23.36 亿元，同比-16.29%；实现归母净利润 1.22 亿元， 同比-42.79%。2025Q1，公司实现营业收入 5.09 亿元，同比-8.54%；实现归母净利润 0.14 亿元，同比增长 1.70%。 分析判断: ► 主业稳定，公司近三个会计年度累计分红总额为 2.45 亿元 2024 年 ...

2025 年 04 月 30 日 养殖成本保持优势地位，产能规模有望延续增长 势头 买入(维持) 事件 | 分析师：娄倩 | S1050524070002 | | --- | --- | | louqian@cfsc.com.cn | | | 联系人：卫正 | S1050124080020 | | weizheng2@cfsc.com.cn | | | 基本数据 | 2025-04-29 | | --- | --- | | 当前股价（元） | 29.21 | | 总市值（亿元） | 153 | | 总股本（百万股） | 525 | | 流通股本（百万股） | 523 | | 52 周价格范围（元） | 24.81-44.99 | | 日均成交额（百万元） | 123.21 | 市场表现 -40 -30 -20 -10 0 10 20 30 (%) 神农集团 沪深300 资料来源：Wind，华鑫证券研究 相关研究 1、《神农集团（605296）：成本优 势地位稳固，定增扩产维持独一档 负债率表现》2025-04-14 2、《神农集团（605296）：业绩实 现高增长，成本优势持续巩固》 2024-08-29 3 ...

截至2025年4月30日 10:37，中证畜牧养殖指数(930707)下跌0.07%。成分股方面涨跌互现，天康生物 (002100)领涨2.88%，天马科技(603668)上涨1.08%，播恩集团(001366)上涨0.99%；兄弟科技(002562)领 跌5.35%，金新农(002548)下跌1.56%，梅花生物(600873)下跌0.90%。 养殖ETF(516760)上涨0.32%，最新价报0.63元。拉长时间看，截至2025年4月29日，养殖ETF近1月累计 上涨2.47%，涨幅排名可比基金1/4。 消息面上，农业农村部发布《养殖业节粮行动实施方案》，力争到2030年，全国养殖业饲料中粮食用量 占比降至60%，豆粕用量占比降至10%。方案提出推广精准饲料配方、挖掘非粮饲料资源、发展优质饲 草等措施，以提高饲料利用效率，保障粮食安全。 国盛证券 2025 年 4 月 25 日发布的报告指出养殖板块在基金重仓配置中减配明显。2025 年一季度养殖 业重仓占比 0.45%，环比下降 0.06pct，同比下降 0.65pct。从历史平均来看，目前配置水平远低于平均 水平和标配水平，为近 3 年来最低。但行业关 ...