[Table_Page] 投资策略周报|农林牧渔 证券研究报告 [TAblE_TitlE] 农林牧渔行业 | [TAblE_G rADE] 行业评级 | 买入 | | --- | --- | | 前次评级 | 买入 | | 报告日期 | 2026-02-08 | 本周猪价小幅回落，优选成本领先的龙头猪企 [TAblE_SummAry] 核心观点： [分析师： TAblE_Author 钱浩] SAC 执证号：S0260517080014 SFC CE No. BND274 021-38003634 shqianhao@gf.com.cn 分析师： 郑颖欣 SAC 执证号：S0260520070001 021-38003632 zhengyingxin@gf.com.cn 分析师： 高一岑 SAC 执证号：S0260525100002 021-38003780 gaoyicen@gf.com.cn 分析师： 李雅琦 SAC 执证号：S0260524080006 021-68827265 liyaqi@gf.com.cn -10% -2% 6% 14% 22% 30% 02/25 04/25 07/25 09/2 ...

农业农村部2月6日消息，为深入贯彻今年中央一号文件精神，农业农村部日前印发《关于落实〈中共中 央国务院关于锚定农业农村现代化、扎实推进乡村全面振兴的意见〉的实施意见》（以下简称《实施意 见》）提出，守牢国家粮食安全底线，持续巩固拓展脱贫攻坚成果，提升乡村产业发展水平、乡村建设 水平、乡村治理水平，努力把农业建成现代化大产业、使农村基本具备现代生活条件、让农民生活更加 富裕美好，加快建设农业强国，为推进中国式现代化提供基础支撑。 四是推进农业发展全面绿色转型，稳步提升可持续发展能力。提升农业资源保护利用水平，加强农业投 入品管理，发展生态低碳农业。 五是培育壮大乡村富民产业，千方百计促进农民稳定增收。做强农产品加工流通业，加快提升乡村特色 产业，发展壮大农业企业，强化农业品牌培育。 六是加快补齐农村现代生活条件短板，因地制宜推进宜居宜业和美乡村建设。接续推进乡村建设行动， 持续整治提升农村人居环境，保护传承优秀农耕文化，引导推动乡村善治。 七是进一步深化农村改革，激发农业农村发展活力。稳定土地承包关系，加快健全现代农业经营体系， 提升农村宅基地管理服务水平，稳健发展新型农村集体经济。 《实施意见》部署8方面40 ...

Core Viewpoint - The article outlines the implementation opinions of the Ministry of Agriculture and Rural Affairs regarding the modernization of agriculture and rural areas, emphasizing the importance of agricultural work in 2026 as the start of the "14th Five-Year Plan" period. Group 1: Agricultural Production Capacity and Quality - Emphasis on maintaining grain and oil production, ensuring stable grain output around 1.4 trillion jin, and promoting high-performance machinery and integrated technology to enhance productivity [6][7] - Development of modern facility agriculture, including energy-efficient greenhouses and modern breeding facilities [3][9] - Strengthening agricultural technology innovation and integrating it with industry innovation [3][16] Group 2: Livestock and Aquaculture Development - Focus on modernizing livestock production, including managing pig production and supporting dairy industry recovery [7][8] - Promotion of high-quality aquaculture practices and the development of deep-sea farming [8] Group 3: Food Supply and Safety - Development of a diversified food supply system and enhancement of food safety standards through comprehensive quality control measures [9][11] - Implementation of a new round of soil improvement and land quality enhancement initiatives [19][20] Group 4: Rural Revitalization and Poverty Alleviation - Establishment of a normalized assistance policy system to maintain financial support and resources for rural revitalization [12][13] - Continuous monitoring and support for poverty alleviation to prevent a return to poverty [13][14] Group 5: Agricultural Technology and Equipment - Promotion of agricultural technology innovation and the establishment of a robust agricultural machinery development framework [16][17] - Implementation of smart agriculture initiatives, including the use of AI, drones, and IoT in agricultural practices [18] Group 6: Sustainable Agricultural Practices - Focus on ecological low-carbon agriculture and the promotion of efficient resource utilization [20][21] - Strengthening the management of agricultural inputs and promoting the use of organic fertilizers [20] Group 7: Rural Infrastructure and Living Conditions - Improvement of rural infrastructure and public services to enhance living conditions in rural areas [24][25] - Promotion of cultural heritage and community governance to foster a harmonious rural environment [25][29] Group 8: Rural Reform and Economic Vitality - Stabilization of land contracting relationships and promotion of modern agricultural management systems [26][27] - Support for the development of rural collective economies and the establishment of a standardized rural property trading market [28] Group 9: Financial Support and Policy Implementation - Prioritization of public budget investments in agriculture and rural areas, along with the optimization of financial support mechanisms [30][31] - Enhancement of agricultural support policies to stabilize prices and ensure farmers' income [31][32]

数据来源农业农村部、国家统计局等 习近平总书记强调："各级党委和政府要坚持把解决好'三农'问题作为重中之重，坚持五级书记抓乡村 振兴，奋发进取、真抓实干，努力把农业建成现代化大产业、使农村基本具备现代生活条件、让农民生 活更加富裕美好。" 中共中央、国务院《关于锚定农业农村现代化、扎实推进乡村全面振兴的意见》公开发布。这是党的十 八大以来指导"三农"工作的第十四个中央一号文件，对2026年"三农"工作作出全面部署，充分体现了以 习近平同志为核心的党中央对"三农"工作一以贯之的高度重视。 2026年是"十五五"开局之年，做好"三农"工作至关重要。如何提升农业综合生产能力和质量效益？进入 常态化帮扶阶段第一年，如何实施精准帮扶？如何促进农民稳定增收？宜居宜业和美乡村建设如何推 进？围绕热点问题，本报记者约请中央一号文件起草组成员进行解读。 ——编者 提升农业综合生产能力和质量效益 本报记者郁静娴 习近平总书记强调，要毫不放松抓好粮食生产，促进良田良种良机良法集成增效，提升农业综合生产能 力和质量效益。 2025年，我国粮食生产克服多重不利天气影响，产量再创历史新高，连续两年稳定在1.4万亿斤以上。 面对大国竞争加 ...

Investment Rating - The industry investment rating is "Buy" [2] Core Insights - The report emphasizes the acceleration of building an agricultural powerhouse as highlighted in the 2026 Central Document No. 1, which focuses on enhancing agricultural production capacity and quality, implementing precise assistance, and promoting stable income growth for farmers [7] - It stresses the need for comprehensive regulation of pig production capacity and the establishment of a diversified food supply system, indicating a shift from "doing well" to "strengthening" the regulation of pig production capacity compared to the 2025 document [7] - The report outlines the goal of stabilizing grain and oil production, with a target grain output of approximately 1.4 trillion jin, and emphasizes the importance of seed industry revitalization actions [7] - It highlights the integration of artificial intelligence with agricultural development, promoting the use of drones and other technologies to enhance agricultural productivity [7] - Investment suggestions include focusing on leading seed companies that benefit from breeding innovation and the biological breeding industry, such as Longping High-Tech, Denghai Seeds, and Kangnong Seeds [7] Summary by Sections Policy Insights - The 2026 Central Document No. 1 outlines three main areas: improving agricultural production capacity, implementing precise assistance, and promoting stable income growth for farmers [7] - It calls for a focus on stabilizing grain production and enhancing the diversity of oilseed supply, including increasing soybean production and expanding the cultivation of other oil crops [7] Technological Integration - The report discusses the potential of integrating AI with agriculture, including applications in autonomous farming machinery and AI pest identification, which are expected to drive improvements in agricultural efficiency [7] Investment Recommendations - The report recommends attention to companies with breeding research advantages, particularly in the context of the biological breeding industry, suggesting companies like Longping High-Tech, Denghai Seeds, and Kangnong Seeds as potential investment opportunities [7]

Core Insights - The 2026 Central Document, released on February 3, focuses on "agriculture, rural areas, and farmers" (referred to as "three rural issues") and marks the first document of the 14th since the new era, emphasizing the importance of these issues in the context of the 14th Five-Year Plan [1][2] Group 1: Agricultural Modernization - The document highlights the need to accelerate the construction of a strong agricultural nation, addressing the critical period of the 14th Five-Year Plan, which is essential for achieving socialist modernization [2] - It emphasizes the importance of enhancing agricultural productivity and ensuring food security, with a focus on improving comprehensive production capacity and quality efficiency [3] Group 2: Poverty Alleviation and Rural Revitalization - The document outlines systematic measures for implementing normalized and precise assistance to maintain the achievements of poverty alleviation, particularly in the transition period following the completion of poverty alleviation tasks [4] - It stresses the importance of protecting farmers' enthusiasm for farming and increasing their income through various initiatives, including supporting county-level industries and stable employment for migrant workers [4] Group 3: Rural Infrastructure and Living Conditions - The document calls for accelerating the improvement of rural living conditions and enhancing infrastructure, while also promoting the modernization of rural areas [5][6] - It emphasizes the need for a comprehensive approach to rural development, integrating agricultural and rural modernization, and ensuring that both material and spiritual living standards are improved [6] Group 4: Tailored Approaches to Rural Development - The document advocates for a "tailored" approach to rural construction, encouraging localized strategies that align with the specific needs of farmers and rural communities [5][6] - It highlights the importance of adapting rural development strategies to local conditions, ensuring that initiatives are practical and effective in meeting the demands of rural populations [6]

Core Viewpoint - The article emphasizes the importance of the "Three Rural Issues" (agriculture, rural areas, and farmers) in the context of China's 14th Central Document focusing on these issues, marking the beginning of the "15th Five-Year Plan" period. It highlights the need for modernization in agriculture and rural areas as a foundation for achieving socialist modernization in China [3][4]. Group 1: Agricultural Modernization - The "15th Five-Year Plan" period is identified as a critical time for achieving agricultural modernization and addressing existing shortcomings in the agricultural sector [3]. - The document stresses the need to enhance agricultural productivity and ensure food security, with specific measures to protect arable land and improve agricultural quality [5]. - A diversified food supply system is to be promoted, expanding beyond traditional grains to include various food sources such as meat, dairy, and vegetables [5]. Group 2: Poverty Alleviation and Rural Revitalization - The document outlines strategies for consolidating poverty alleviation achievements and ensuring that no large-scale return to poverty occurs, particularly as the transition period following the completion of poverty alleviation efforts comes to an end [6]. - Systematic deployment of regular and precise assistance measures is emphasized, focusing on improving the effectiveness of industry and employment support for underdeveloped areas [6][7]. Group 3: Rural Infrastructure and Living Conditions - The article highlights the need for improved rural infrastructure and public services, addressing the current inadequacies in these areas [8]. - It calls for a comprehensive approach to rural modernization, ensuring both material and spiritual well-being for rural residents, and emphasizes the importance of cultural enrichment alongside economic development [9]. - The principle of "adapting to local conditions" is reiterated as essential for effective rural development strategies, requiring tailored approaches based on specific local needs [9].

2026年中央一号文件2月3日发布，这也是"十五五"首个中央一号文件。 中共中央 国务院关于锚定农业农村现代化 扎实推进乡村全面振兴的意见 （2026年1月3日） 农业农村现代化关系中国式现代化全局和成色。"十四五"时期，农业综合生产能力迈上新台阶， 脱贫攻坚成果巩固拓展，农民生活水平显著提高，乡村全面振兴取得明显进展。"十五五"时期是 基本实现社会主义现代化夯实基础、全面发力的关键时期，要加快补上农业农村领域突出短板， 加快建设农业强国。2026年是"十五五"开局之年，做好"三农"工作至关重要。要坚持以习近平新 时代中国特色社会主义思想为指导，深入贯彻党的二十大和二十届历次全会精神，认真落实四中 全会部署，全面贯彻习近平总书记关于"三农"工作的重要论述和重要指示精神，坚持把解决好"三 农"问题作为全党工作重中之重，坚持和加强党对"三农"工作的全面领导，完整准确全面贯彻新发 展理念，坚持稳中求进工作总基调，坚持农业农村优先发展，坚持城乡融合发展，锚定农业农村 现代化，以推进乡村全面振兴为总抓手，以学习运用"千万工程"经验为引领，以改革创新为根本 动力，提高强农惠农富农政策效能，守牢国家粮食安全底线，持续巩固拓 ...

Core Insights - The forum at Tsinghua University focused on the theme of accelerating agricultural and rural modernization during the "14th Five-Year Plan" period, discussing tasks and development paths for this initiative [1][2] - The report released by Tsinghua University’s China Rural Research Institute evaluated the livability and workability of rural areas, assessing the construction levels of beautiful rural areas across 1,470 counties in China [2] Group 1: Agricultural Modernization Goals - Chen Xiwens, the chairman of the Agricultural and Rural Committee of the National People's Congress, emphasized the adaptability and vitality of China's dual management system based on family contracting, advocating for innovation in rural basic management systems and agricultural social services to achieve the goal of a strong agricultural nation with Chinese characteristics [1] - Du Ying, former deputy director of the National Development and Reform Commission, highlighted the need to focus on the overall goal of agricultural and rural modernization during the "14th Five-Year Plan" period, with an emphasis on increasing effective supply of agricultural products and farmers' income [1] Group 2: Key Tasks for Agricultural Modernization - Pan Wenbo, chief agronomist of the Ministry of Agriculture and Rural Affairs, outlined key tasks for accelerating agricultural modernization, including enhancing comprehensive production capacity and quality, consolidating poverty alleviation achievements, promoting the construction of livable and workable beautiful villages, broadening income channels for farmers, and improving the effectiveness of policies benefiting agriculture [1] - Hu Angang, a senior professor at Tsinghua University, stressed the strategic significance of modernizing agriculture, rural areas, and farmers for solidifying the foundation of Chinese-style modernization, proposing paths such as technological empowerment and industrial integration [2] Group 3: Rural Economic Development - Ye Xingqing, former director of the Rural Economy Research Department of the State Council Development Research Center, emphasized the goal of transforming agriculture into a modern large industry, focusing on land protection and agricultural technology innovation [2] - Wei Houkai, a member of the Chinese Academy of Social Sciences, pointed out that rural operation is crucial for comprehensive rural revitalization, advocating for the professional and market-oriented operation of rural collective economies and a shift from single-village to regional operations [2]

Core Insights - The articles highlight the role of agricultural universities in fostering new agricultural talents and addressing real-world agricultural challenges through hands-on experience and research [1][4][14] Group 1: Agricultural Innovations and Practices - Chinese agricultural universities are actively involved in developing local agricultural products, such as domestically grown durians and improved tomato varieties, which enhance sweetness by 30% [1] - In Xinjiang, the introduction of high-tech agricultural practices, including the use of Beidou navigation systems for mechanized farming, is transforming local industries, particularly in chili pepper cultivation [2][4] - The establishment of technology innovation centers, like the Hainan Sanya Durian Technology Institute, aims to localize durian production, reducing reliance on imports from Southeast Asia [5][7] Group 2: Student Engagement and Community Impact - Students from agricultural universities are directly involved in fieldwork, addressing farmers' needs and adapting their research to local conditions, which fosters trust and collaboration with the farming community [2][4][9] - The concept of "technology small courtyards" has been implemented, where students live and work alongside farmers, directly applying their academic knowledge to solve practical agricultural problems [4][9] - The average income for farmers involved in the chili pepper industry in Xinjiang has reportedly increased by 3,000 yuan per acre due to the technological support provided by university students [8] Group 3: Educational Philosophy and Research Focus - The educational approach emphasizes the importance of understanding local agricultural conditions and the socio-economic context, which is seen as essential for effective agricultural research and development [8][9] - Faculty members encourage students to persist in their research despite challenges, highlighting the value of dedication and long-term commitment to solving agricultural issues [12][14] - The integration of practical experience with theoretical learning is viewed as crucial for cultivating a sense of responsibility among students towards national agricultural development [10][14]