格隆汇1月28日丨A股市场养鸡板块短线拉升，其中，晓鸣股份涨超10%，立华股份、巨星农牧、湘佳 股份、华统股份、禾丰股份等跟涨。 ...

[Table_Page] 深度分析|农林牧渔 证券研究报告 [Table_Title] 农林牧渔行业 白鸡专题四：产业链有望景气改善，关注海外引种节奏 [Table_Summary] 核心观点： [Table_Grade] 行业评级 买入 前次评级 买入 报告日期 2026-01-27 [Table_PicQuote] 相对市场表现 [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： 李雅琦 SAC 执证号：S0260524080006 -10% -2% 6% 14% 22% 30% 01/25 04/25 06/25 09/25 11/25 01/26 农林牧渔 沪深300 021-68827265 liyaqi@gf.com.cn 请注意，李雅琦并非香港证券及期货事务监察委员会的注 册持牌人，不可在香港从事受监管活动。 | DocReport] [Table_ 相关研究： | | | --- | --- | | 农林牧渔行业:本周猪价延续 | 2026-01 ...

| 605567 | 春雪食品 | -1.27 | 1.94 | -33.37 | | --- | --- | --- | --- | --- | | 002982 | 湘佳股份 | -2.51 | 3.21 | -18.42 | | 301116 | 益客食品 | -2.98 | 1.68 | 59.45 | | 603609 | 禾丰股份 | -1.63 | 0.59 | 143.84 | | 002299 | 圣农发展 | -2.01 | 1.26 | 175.36 | | 002234 | 民和股份 | -1.28 | 3.54 | 179.52 | | 000895 | 双汇发展 | -0.39 | 0.40 | 239.20 | | 002458 | 益生股份 | -0.85 | 3.46 | 267.78 | | 603668 | 天马科技 | 0.06 | 1.42 | 324.17 | | 300761 | 立华股份 | -2.64 | 2.20 | 1026.22 | 资金面上看，今日养鸡概念板块获主力资金净流出1.94亿元，其中，14股获主力资金净流出，8股主力 资金净流出超千万元，净流 ...

Core Insights - The poultry sector experienced a decline of 0.36% as of the market close on November 25, with major stocks like Jingji Zhinnong hitting the limit down, while stocks such as Luoniushan and Minhe Shares saw gains of 4.60% and 1.10% respectively [1][2] Market Performance - The poultry concept ranked among the top decliners in the market, with Jingji Zhinnong leading the losses at -10.03% and a net outflow of 1.23 billion yuan in main funds [1] - Other notable decliners included Tianma Technology and Lihua Shares, with net outflows of 3017.17 million yuan and 2044.02 million yuan respectively [1] Fund Flow Analysis - The poultry sector saw a net outflow of 1.22 billion yuan today, with 13 stocks experiencing outflows, and 5 stocks seeing outflows exceeding 10 million yuan [1] - The stocks with the highest net inflows included Luoniushan, Jinlongyu, and Huaying Agriculture, with inflows of 5444.90 million yuan, 2111.88 million yuan, and 2011.22 million yuan respectively [1][2] Stock Performance - Among the top gainers in the poultry sector, Luoniushan led with a rise of 4.60%, followed by Minhe Shares and Xiaoming Shares with increases of 1.10% and 1.08% respectively [1] - Conversely, stocks like Jingji Zhinnong and Tianma Technology faced significant declines, impacting overall sector performance [1][2]

Group 1 - The poultry concept sector rose by 1.90%, ranking fourth among concept sectors, with 15 stocks increasing in value, including Yike Food which hit a 20% limit up [1] - Leading stocks in the poultry sector included Lihua Co., Jingji Zhino, and Guanghong Holdings, which saw increases of 1.91%, 1.48%, and 1.29% respectively [1] - The stocks that experienced the largest declines were Luoniushan, Huadong Co., and Xiaoming Co., with decreases of 3.80%, 1.50%, and 1.11% respectively [1] Group 2 - The poultry concept sector attracted a net inflow of 275 million yuan from main funds, with 10 stocks receiving net inflows, and 5 stocks exceeding 10 million yuan in net inflow [2] - The top stock for net inflow was Tianma Technology, which saw a net inflow of 246 million yuan, followed by Yike Food, Huaying Agriculture, and Jingji Zhino with net inflows of 75.81 million yuan, 56.13 million yuan, and 42.85 million yuan respectively [2] - The net inflow ratios for Tianma Technology, Yike Food, and Jingji Zhino were 25.15%, 19.08%, and 17.33% respectively [3] Group 3 - The trading performance of Tianma Technology showed a daily increase of 10.03% with a turnover rate of 12.06% and a main fund flow of 245.60 million yuan [3] - Yike Food had a daily increase of 19.98% with a turnover rate of 6.92% and a main fund flow of 75.81 million yuan [3] - Other notable stocks included Huaying Agriculture with a daily increase of 10.03% and a main fund flow of 56.13 million yuan, and Jingji Zhino with a daily increase of 1.48% and a main fund flow of 42.85 million yuan [3]

Core Insights - Japan is experiencing a resurgence of highly pathogenic avian influenza (HPAI) with confirmed outbreaks leading to the culling of approximately 280,000 chickens in Niigata Prefecture, raising concerns about egg supply and prices [1][2] - The current avian influenza season has seen four reported outbreaks, affecting over 1.5 million birds, which has led to heightened anxiety over egg supply shortages and price increases [1][2] - Egg prices in Japan are nearing the peak levels observed during the "egg crisis" of 2023, with the price of medium-sized eggs in Fukuoka Prefecture reaching 340 yen per kilogram, close to the previous high of 345 yen [2] Group 1 - The Niigata Prefecture government has implemented measures to prevent the spread of avian influenza, including halting the transportation of poultry and eggs from farms within a 10-kilometer radius of the outbreak [1] - The impact of avian influenza is already visible in retail, with supermarkets reducing their egg sales area and increasing prices due to supply shortages [2] - The food service industry is also feeling the pressure, with some businesses reporting a 50 yen increase in the price of egg-based products due to rising costs [2][3] Group 2 - If the avian influenza outbreak is not effectively controlled, Japan may face a repeat of the supply crisis and price surges experienced two years ago, which could strain consumers and related industries [1] - The price of eggs has significantly increased, with reports indicating that a box of eggs that previously cost around 3,000 yen is now exceeding 4,000 yen, and suppliers expect these high prices to persist into the winter [3]

Group 1 - The poultry sector experienced a surge, with Huaying Agriculture hitting the daily limit up [1] - Other companies in the sector, including Tianma Technology, Shengnong Development, Luoniushan, Chunxue Food, and Yike Food, also saw increases in their stock prices [1]

Market Performance - The three major US stock indices reached all-time highs, driven by Nvidia and Apple [1][2] - The Dow Jones increased by 0.14% to 46,381.54 points, the S&P 500 rose by 0.44% to 6,693.75 points, and the Nasdaq gained 0.70% to 22,788.98 points [2] Company Highlights - Nvidia's stock surged by 3.9%, approaching a market capitalization of $4.5 trillion, following its announcement of a potential $100 billion investment in OpenAI for AI data centers [3] - Oracle, another AI-related stock, rose by 6% after announcing the promotion of Clay Magouyrk and Mike Sicilia to co-CEOs, marking a 45% increase for the month [4] - Apple saw a significant increase of over 4% due to strong sales of the iPhone 17, reversing its earlier decline and nearing historical highs [5] Sector Trends - Major tech stocks mostly rose, with Nvidia up 3.93%, Apple up 4.31%, while Microsoft, Google, and Amazon saw declines [6] - The Nasdaq Golden Dragon Index, which tracks Chinese stocks, fell by 0.96%, indicating mixed performance among Chinese companies listed in the US [6] Economic Indicators - The probability of a 25 basis point rate cut by the Federal Reserve in October is at 89.8%, with a 10.2% chance of maintaining current rates [10] - The AH share premium index in Hong Kong reached a six-year low, reflecting a 17% decline this year, influenced by increased southbound capital inflows and changes in the A+H listing structure [11]

Group 1 - The poultry concept sector declined by 1.50%, ranking among the top declines in the concept sectors, with major companies like Juxing Agriculture, Xiaoming Co., and Huadong Co. experiencing significant drops [1][2] - Among the poultry stocks, only two showed an increase, with Roniu Mountain and Jingji Zhino rising by 0.46% and 0.40% respectively [1][2] - The poultry sector saw a net outflow of 583 million yuan from main funds, with 19 stocks experiencing net outflows, and 8 stocks seeing outflows exceeding 30 million yuan [2][3] Group 2 - The top net outflow stock was Wens Foodstuffs, with a net outflow of 166 million yuan, followed by New Hope, Jinlongyu, and Juxing Agriculture with outflows of 70.8 million yuan, 58.9 million yuan, and 53.0 million yuan respectively [2][3] - The stocks with the highest net inflows included Roniu Mountain, Chunxue Food, and Huaying Agriculture, with inflows of 15.5 million yuan, 2.4 million yuan, and 1.9 million yuan respectively [2][3] - The trading volume for Wens Foodstuffs was 1.21%, while other notable stocks like New Hope and Juxing Agriculture had trading volumes of 1.34% and 5.18% respectively [2][3]

Core Viewpoint - The three major stock indices opened higher, indicating a positive market sentiment at the start of the trading day [1] Group 1: Stock Indices Performance - The Shanghai Composite Index opened at 3865.98 points, up 0.14% [1] - The Shenzhen Component Index opened at 13017.58 points, up 0.09% [1] - The ChiNext Index opened at 3072.3 points, up 0.2% [1] Group 2: Sector Performance - Precious metals, gold, and coal sectors showed significant gains [1] - The poultry, pork, seed industry, and internet insurance sectors performed poorly [1]