长江商报消息 水产饲料龙头海大集团（002311.SZ）经营业绩稳健增长再现。 7月28日晚，海大集团披露了2025年半年度报告。上半年，公司实现营业收入约588亿元，同比增长 12.50%；归母净利润逾26亿元，同比增长约24%。 长江商报记者发现，半年盈利超过26亿元，海大集团创造了历史同期新高。 饲料业务是海大集团的核心业务，2025年上半年，公司饲料销量创历史同期新高，达到1470万吨（含内 部养殖耗用量约 105 万吨），同比增长约 25%，外销增量绝对值已接近2025年全年目标。 公司表示，上半年，禽养殖行业供应与需求格局的矛盾凸显，禽肉和蛋价格持续低位运行，养殖端压力 巨大。公司积极发挥研发技术储备和专业优势，直达食品公司和终端消费者需求，积极扩大市场份额。 与此同时，生猪养殖行业呈现复苏态势，显著提振养殖信心，刺激补栏需求释放。公司积极适应养殖趋 势的变化，主动调整客户结构，开发生猪专业养殖集团，为其提供原料采购、饲料配方技术、饲料生 产、品质监控、防病治瘟等多种服务，公司生猪养殖集团类客户的饲料产品销量增长迅猛。水产养殖行 业在经历前两年较为明显的产能去化后，大部分品种触底反弹，投苗投料积极 ...

Core Viewpoint - The automotive industry is experiencing a significant shift as major manufacturers commit to shortening supplier payment terms to within 60 days, which is expected to improve cash flow for parts suppliers and potentially reverse market sentiment in the short term, although long-term competition remains intense [1][2][6]. Group 1: Industry Actions and Reactions - Major automotive companies have collectively announced a reduction in payment terms to suppliers to 60 days, which is seen as a response to the ongoing "price war" and competitive pressures within the industry [2][4]. - The China Automotive Industry Association has raised concerns about the negative impacts of price wars on profit margins, product quality, and consumer rights, advocating for a more collaborative approach among companies [2][3]. - The commitment from manufacturers to shorten payment terms is viewed as a critical turning point in the automotive supply chain, potentially leading to improved financial health for parts suppliers [7]. Group 2: Financial Implications for Suppliers - Shortening the payment cycle from over 120 days to 60 days is expected to significantly reduce accounts receivable turnover days, thereby improving cash flow and reducing financial burdens on parts suppliers [6][7]. - Suppliers have expressed that receiving payments within 60 days will alleviate cash flow issues, allowing for better financial management and potentially enhancing profitability by reducing bad debt provisions [3][6]. - The anticipated improvement in cash flow is expected to lead to a 2% to 3% increase in profit margins for parts suppliers, as financial pressures are alleviated [7]. Group 3: Long-term Industry Outlook - Despite the short-term improvements, the automotive industry is still characterized by intense competition, and companies must focus on identifying high-quality firms capable of navigating through economic cycles [1][6][7]. - The competitive landscape remains challenging, with manufacturers exerting strong bargaining power over suppliers, often demanding price reductions, which could continue to pressure profit margins [4][6]. - The industry is expected to undergo further adjustments, and companies that can leverage technological advancements and global expansion will likely lead the market in the long run [7].