截至10月10日收盘，同花顺果指数概念下跌4.64%，位居概念板块跌幅榜前列，板块内，歌尔股份、长 盈精密、环旭电子等跌幅居前。 今日涨跌幅居前的概念板块 | 概念 | 今日涨跌幅（%） | 概念 | 今日涨跌幅（%） | | --- | --- | --- | --- | | 兵装重组概念 | 4.83 | 国家大基金持股 | -5.04 | | 2025三季报预增 | 3.44 | 同花顺果指数 | -4.64 | | 天津自贸区 | 2.13 | 中国AI 50 | -4.52 | | 动物疫苗 | 1.93 | MCU芯片 | -4.26 | | 草甘膦 | 1.92 | 汽车芯片 | -4.22 | | 深圳国企改革 | 1.85 | AI手机 | -3.99 | | 水泥概念 | 1.84 | AI PC | -3.94 | | 玉米 | 1.71 | 无线耳机 | -3.64 | | 赛马概念 | 1.62 | 存储芯片 | -3.62 | | 猪肉 | 1.60 | MLOps概念 | -3.56 | 资金面上看，今日同花顺果指数概念板块获主力资金净流出86.27亿元，其中，13股获主力资金净 ...

证券研究报告 | 策略点评 2025 年 10 月 10 日 投资要点 分析师：孟之绪 执业编号：S0300524080001 电话： 邮箱：mengzhixu@ykzq.com 投资策略研究 粤开市场日报-20251010 今日关注 今日主要指数涨跌幅：沪指涨跌幅为-0.94%，深证成指涨跌幅为-2.7%， 创业板指涨跌幅为-4.55%。 申万一级行业表现：建筑材料、煤炭、纺织服饰在行业涨跌幅榜居前； 有色金属、传媒、通信在行业涨跌幅榜居后。 概念板块表现：总体来看，预增、动物疫苗、连板概念表现相对较好； 动力电池、锂电电解液、半导体概念表现相对较差。 风险提示 股市有风险，投资需谨慎。 请务必阅读最后特别声明与免责条款 www.ykzq.com 1 / 5 策略点评 | 一、市场回顾 | 3 | | --- | --- | | 二、风险提示 | 3 | | 图表 1： | | --- | | 今日主要指数涨跌幅（%）及概念板块表现 3 | 一、市场回顾 图表1：今日主要指数涨跌幅（%）及概念板块表现 二、风险提示 股市有风险，投资需谨慎 请务必阅读最后特别声明与免责条款 www.ykzq.com 3 / ...

Core Viewpoint - The stock of Jinyu Biological Technology Co., Ltd. has shown a significant increase of 30.31% year-to-date, despite a recent decline of 1.11% over the past five trading days [1][2] Company Overview - Jinyu Biological Technology Co., Ltd. is located in Hohhot, Inner Mongolia, and was established on March 13, 1993, with its stock listed on January 15, 1999. The company primarily engages in the research, production, and sales of veterinary biological products [1] - The main revenue composition includes 94.42% from biopharmaceuticals, 3.18% from other income, and 2.40% from supplementary sources [1] Financial Performance - For the first half of 2025, the company reported an operating income of 620 million yuan, reflecting a year-on-year growth of 1.28%. However, the net profit attributable to shareholders decreased by 50.84% to 60.42 million yuan [2] - Cumulatively, the company has distributed 2.219 billion yuan in dividends since its A-share listing, with 189 million yuan distributed over the past three years [3] Shareholder Information - As of June 30, 2025, the number of shareholders increased to 54,900, with an average of 20,405 circulating shares per person, a decrease of 3.70% from the previous period [2] - The top ten circulating shareholders include notable ETFs, with the Guotai Zhongzheng Livestock Breeding ETF holding 15.95 million shares, an increase of 648,300 shares from the previous period [3]

Group 1 - The core viewpoint of the articles highlights the recent performance and financial metrics of Wens Foodstuff Group Co., Ltd, including stock price fluctuations and revenue growth [1][2][3] - As of September 25, Wens' stock price decreased by 2.11% to 18.58 CNY per share, with a total market capitalization of 123.63 billion CNY [1] - The company has seen a year-to-date stock price increase of 13.91%, with a 2.62% decline over the last five trading days [1] Group 2 - For the first half of 2025, Wens reported a revenue of 49.88 billion CNY, reflecting a year-on-year growth of 6.67%, and a net profit of 3.48 billion CNY, which is a significant increase of 161.77% [2] - The company has distributed a total of 28.12 billion CNY in dividends since its A-share listing, with 4.94 billion CNY distributed in the last three years [3] - As of June 30, 2025, the number of shareholders decreased by 20.62% to 91,000, while the average circulating shares per person increased by 43.71% to 65,602 shares [2][3]

Company Overview - Wens Food Group Co., Ltd. is located in Xinxing County, Guangdong Province, established on July 26, 1993, and listed on November 2, 2015 [1] - The company's main business involves the breeding and sales of meat chickens and pigs, with revenue composition: 65.67% from pig breeding, 30.34% from chicken breeding, and 1.90% from other breeding [1] Financial Performance - For the first half of 2025, Wens achieved operating revenue of 49.875 billion yuan, a year-on-year increase of 6.67%, and a net profit attributable to shareholders of 3.475 billion yuan, a year-on-year increase of 161.77% [2] - Since its A-share listing, the company has distributed a total of 28.116 billion yuan in dividends, with 4.942 billion yuan distributed in the last three years [3] Stock Performance - As of September 22, Wens' stock price was 18.74 yuan per share, with a market capitalization of 124.695 billion yuan [1] - Year-to-date, the stock price has increased by 14.89%, but it has decreased by 6.58% in the last five trading days [1] Shareholder Structure - As of June 30, 2025, the number of shareholders was 91,000, a decrease of 20.62% from the previous period, while the average circulating shares per person increased by 43.71% to 65,602 shares [2] - Among the top ten circulating shareholders, Hong Kong Central Clearing Limited holds 139 million shares, an increase of 20.044 million shares from the previous period [3]

Core Viewpoint - The stock price of Kexing Pharmaceutical has shown significant volatility, with a year-to-date increase of 92.87%, but recent declines in the short term indicate potential market fluctuations [2]. Group 1: Stock Performance - As of September 19, Kexing Pharmaceutical's stock price rose by 2.02% to 42.01 CNY per share, with a trading volume of 1.42 billion CNY and a turnover rate of 1.69%, resulting in a total market capitalization of 8.455 billion CNY [1]. - The stock has experienced a decline of 1.18% over the last five trading days and a 5.60% drop over the past 20 days, while it has increased by 9.40% over the last 60 days [2]. Group 2: Company Overview - Kexing Pharmaceutical, established on August 22, 1997, is located in Jinan, Shandong Province, and specializes in the research, production, and sales of recombinant protein drugs and micro-ecological preparations, with 97.38% of its revenue coming from pharmaceutical products [3]. - The company has appeared on the stock market's "Dragon and Tiger List" six times this year, with the most recent appearance on July 3 [3]. Group 3: Financial Performance - For the first half of 2025, Kexing Pharmaceutical reported a revenue of 700 million CNY, a year-on-year decrease of 7.82%, while the net profit attributable to shareholders reached 80.3445 million CNY, reflecting a substantial year-on-year increase of 576.45% [3]. - The company has distributed a total of 51.5446 million CNY in dividends since its A-share listing, with 15.7785 million CNY distributed over the past three years [4]. Group 4: Shareholder Structure - As of June 30, 2025, Kexing Pharmaceutical had 9,412 shareholders, an increase of 16.86% from the previous period, with an average of 21,211 circulating shares per shareholder, a decrease of 14.43% [3]. - Notable institutional shareholders include E Fund Medical Healthcare Industry Mixed A, which holds 3.669 million shares, and has increased its holdings by 1.6955 million shares [4].

Core Viewpoint - TianKang Biological has shown a significant increase in stock price and trading volume, indicating positive market sentiment and potential growth in the agricultural and livestock sector [1][2]. Company Overview - TianKang Biological Co., Ltd. is located in Urumqi, Xinjiang, and was established on December 28, 2000, with its stock listed on December 26, 2006. The company specializes in the production and sales of biological vaccines for livestock, feed, and plant protein, as well as pig breeding, pig farming, slaughter processing, and meat product sales [1]. - The revenue composition of TianKang Biological includes: 32.20% from pig farming, 27.51% from feed, 16.37% from protein and oil processing, 14.75% from corn, 5.44% from veterinary drugs, and 3.40% from other sources [1]. Financial Performance - For the first half of 2025, TianKang Biological achieved an operating income of 8.847 billion yuan, representing a year-on-year growth of 10.68%. The net profit attributable to the parent company was 338 million yuan, reflecting a year-on-year increase of 22.27% [2]. - Since its A-share listing, TianKang Biological has distributed a total of 1.891 billion yuan in dividends, with 598 million yuan distributed over the past three years [3]. Shareholder Information - As of September 10, 2025, the number of shareholders of TianKang Biological was 69,400, an increase of 1.60% from the previous period. The average number of circulating shares per person decreased by 1.57% to 19,672 shares [2]. - Notable institutional shareholders include Guotai Zhongzheng Livestock Breeding ETF, which holds 15.5491 million shares, and Jiashi Agricultural Industry Stock A, holding 10.2945 million shares, both of which have increased their holdings compared to the previous period [3].

Core Viewpoint - The stock price of Kexing Pharmaceutical has shown significant volatility, with a year-to-date increase of 94.21% and recent fluctuations in trading performance [2] Group 1: Stock Performance - As of September 18, Kexing Pharmaceutical's stock rose by 2.03%, reaching 42.30 CNY per share, with a total market capitalization of 8.513 billion CNY [1] - The stock has experienced a 3.50% increase over the last five trading days, a 2.98% decrease over the last 20 days, and a 9.47% increase over the last 60 days [2] Group 2: Financial Performance - For the first half of 2025, Kexing Pharmaceutical reported a revenue of 700 million CNY, a year-on-year decrease of 7.82%, while the net profit attributable to shareholders was 80.3445 million CNY, reflecting a substantial year-on-year increase of 576.45% [2] - Cumulatively, the company has distributed 51.5446 million CNY in dividends since its A-share listing, with 15.7785 million CNY distributed over the past three years [3] Group 3: Shareholder Information - As of June 30, 2025, the number of shareholders increased by 16.86% to 9,412, while the average circulating shares per person decreased by 14.43% to 21,211 shares [2] - The top shareholders include various mutual funds, with notable increases in holdings from E Fund Medical Healthcare Industry Mixed A and other funds [3]

Company Overview - Jinhe Biology Co., Ltd. is located in Inner Mongolia and was established on March 14, 1990, with its listing date on July 13, 2012 [2] - The company specializes in the production, sales, research, and service of animal health products, with a revenue composition of 61.83% from veterinary chemical drugs, 19.76% from starch and related products, 11.12% from veterinary vaccines, 4.97% from environmental services, and 2.15% from other sources [2] Financial Performance - For the first half of 2025, Jinhe Biology achieved a revenue of 1.39 billion yuan, representing a year-on-year growth of 30.45%, and a net profit attributable to shareholders of 138 million yuan, up 51.52% year-on-year [2] - The company has distributed a total of 877 million yuan in dividends since its A-share listing, with 227 million yuan distributed over the past three years [3] Stock Performance - As of September 16, Jinhe Biology's stock price was 7.05 yuan per share, with a market capitalization of 5.44 billion yuan [1] - The stock has increased by 61.22% year-to-date, with a recent 5-day increase of 1.29%, a 20-day decrease of 5.87%, and a 60-day increase of 12.44% [1] - The company has appeared on the trading leaderboard six times this year, with the most recent occurrence on April 16, where it recorded a net buy of -28.30 million yuan [1] Shareholder Information - As of June 30, 2025, the number of shareholders increased by 104.38% to 64,500, while the average circulating shares per person decreased by 51.07% to 11,547 shares [2] - Among the top ten circulating shareholders, Guotai Zhongzheng Livestock Breeding ETF is the third-largest shareholder, holding 7.66 million shares as a new investor [3]

Company Overview - Tianbang Food Co., Ltd. is located in Minhang District, Shanghai, and was established on September 25, 1996. The company was listed on April 3, 2007. Its main business involves pig farming and pork product processing [1] - The revenue composition of Tianbang Food includes 63.82% from pig farming, 33.25% from food processing, 2.85% from feed products, and 0.08% from other sources [1] Stock Performance - As of September 16, Tianbang Food's stock price decreased by 2.18%, trading at 3.14 CNY per share, with a total market capitalization of 6.977 billion CNY [1] - Year-to-date, the stock price has increased by 12.54%, with a 1.95% rise over the last five trading days, 4.67% over the last 20 days, and 6.08% over the last 60 days [1] - The company has appeared on the "Dragon and Tiger List" once this year, with the most recent occurrence on May 8, where it recorded a net purchase of 20.5299 million CNY [1] Financial Performance - For the first half of 2025, Tianbang Food achieved a revenue of 4.693 billion CNY, representing a year-on-year growth of 8.69%. However, the net profit attributable to shareholders decreased by 58.14% to 352 million CNY [2] - The company has distributed a total of 1.185 billion CNY in dividends since its A-share listing, with no dividends paid in the last three years [3] Shareholder Information - As of September 10, Tianbang Food had 80,800 shareholders, an increase of 0.33% from the previous period. The average number of tradable shares per shareholder is 24,415, which has decreased by 0.33% [2]