Group 1 - The China Livestock Breeding Index (930707) increased by 0.05% as of May 27, 2025, with notable gains from companies such as Ruip Bio (300119) up 1.68% and Yike Food (301116) up 1.44% [1] - The Livestock ETF (516760) rose by 0.16%, with a latest price of 0.63 yuan, and has accumulated a 0.64% increase over the past two weeks [1] - The Livestock ETF has shown a net value increase of 3.27% over the past six months, with a maximum single-month return of 17.22% since its inception [1] Group 2 - Sichuan Province has drafted ten measures to promote high-quality development in the livestock industry, focusing on strengthening leading enterprises and supporting their participation in large-scale projects [2] - The measures aim to enhance the capabilities of leading livestock enterprises to drive the development of farms and households [2] Group 3 - Short-term pig prices are expected to remain stable, with a balanced supply-demand situation anticipated in the second half of the year, leading to a more optimistic outlook for pig price expectations and profitability of pig enterprises [3] - Current pig prices allow for slight profitability for breeding enterprises, but the industry faces challenges in capacity reduction, with cost competition becoming a key focus [3] Group 4 - As of May 26, 2025, the Livestock ETF has experienced a maximum drawdown of 5.00% this year, with a management fee of 0.50% and a custody fee of 0.10% [5] - The Livestock ETF tracks the China Livestock Breeding Index, which has a current price-to-earnings ratio (PE-TTM) of 12.33, indicating a historical low valuation [5] - The top ten weighted stocks in the China Livestock Breeding Index account for 69.38% of the index, with companies like Haida Group (002311) and Muyuan Foods (002714) being the largest contributors [5]

Group 1 - The A-share market shows a diverse range of hot sectors, with significant gains in aquaculture, pet economy, and synthetic biology [1] - In the ETF market, livestock-related ETFs have performed well, with an average increase of over 0.5% [1] - The Livestock ETF (159865) rose by 0.68% today, with a current price of 0.594 and a total share count of 5.805 billion [2][3] Group 2 - The livestock industry is undergoing a critical transformation towards quality improvement and efficiency, driven by the rural revitalization strategy [2] - The China Livestock Breeding Index, which tracks companies involved in feed, veterinary medicine, and livestock farming, has shown the best historical returns among agricultural indices [3] - Key weight stocks in the China Livestock Breeding Index include Hai Da Group (12.43%), Mu Yuan (10.03%), and Wen's Shares (9.79%) [4][5]

Core Viewpoint - The aquaculture sector is experiencing positive momentum, with the introduction of innovative technologies and a potential recovery in consumer demand, which may lead to improved pricing in the medium term [1][3]. Group 1: Market Performance - As of April 29, 2025, the China Livestock Breeding Index (930707) increased by 0.04%, with notable gains from companies such as RuiPu Bio (300119) up 4.81% and PuLaike (603566) up 3.79% [1]. - The Aquaculture ETF (516760) rose by 0.16%, with a recent price of 0.62 yuan, and has seen a cumulative increase of 2.14% over the past month, ranking first among its peers [1]. Group 2: Industry Developments - The world's first large-scale deep-sea aquaculture vessel, "Bay Area Lingding," is expected to be delivered in June 2025, with an annual production capacity of 5,000 tons, equivalent to the output of 5,000 mu of fish ponds [1]. - Huaxi Securities anticipates that while short-term consumer demand is recovering, supply remains ample. However, due to a slow recovery in production capacity in 2024, pig prices may exceed expectations in the second half of 2025 [1]. Group 3: Valuation Insights - The latest price-to-earnings ratio (PE-TTM) for the index tracked by the Aquaculture ETF is 13.13, which is in the 1.18% percentile over the past year, indicating that the valuation is lower than 98.82% of the time in the last year, suggesting historical low valuations [1]. Group 4: Index Composition - As of March 31, 2025, the top ten weighted stocks in the China Livestock Breeding Index include HaiDa Group (002311), Wen's Foodstuffs (300498), and MuYuan Food (002714), collectively accounting for 69.05% of the index [3].