Group 1: Report Industry Investment Ratings - Investment rating for the pig industry: Neutral [3] - Investment rating for the egg industry: Cautiously bearish [6] Group 2: Core Views of the Report - The pig industry is in a low - volatility cycle, with stable sow inventories and difficult rapid decline in production capacity. Whether secondary fattening can drive up prices in Q3 this year needs continuous attention [2] - The egg industry is in a seasonal consumption off - season, with a loose supply pattern and weak demand. Egg prices are expected to be sluggish in the short term, and farmers' losses will continue [4][5] Group 3: Summary by Related Catalogs Pig Market Market News and Important Data - Futures: The closing price of the live hog 2509 contract yesterday was 14,275 yuan/ton, up 30 yuan/ton (+0.21%) from the previous trading day [1] - Spot: In Henan, the price of external ternary live hogs was 15.05 yuan/kg, up 0.05 yuan/kg; in Jiangsu, it was 15.30 yuan/kg, up 0.03 yuan/kg; in Sichuan, it was 14.37 yuan/kg, unchanged [1] - Wholesale market: On July 8, the average price of pork in the national agricultural product wholesale market was 20.51 yuan/kg, down 0.7% from the previous day [1] Market Analysis - Due to the decline in feed raw material prices and cost - reduction measures by group factories, self - breeding and self - raising still have profits. The sow inventory is stable, and the production capacity is unlikely to decline rapidly [2] - In Q3 of the past two years, there were price peaks. This year, group factories are reducing supply to control prices, but the impact of secondary fattening on price increases is uncertain due to relevant policies [2] Strategy - The strategy for the pig market is neutral [3] Egg Market Market News and Important Data - Futures: The closing price of the egg 2508 contract yesterday was 3445 yuan/500 kg, down 4 yuan (-0.12%) from the previous trading day [3] - Spot: In Liaoning, the egg price was 2.36 yuan/jin, down 0.06 yuan; in Shandong, it was 2.50 yuan/jin, down 0.10 yuan; in Hebei, it was 2.44 yuan/jin, unchanged [3] - Inventory: On July 8, the national production - link inventory was 1.27 days, unchanged, and the circulation - link inventory was 1.60 days, down 0.01 days [3] Market Analysis - Eggs are in the seasonal consumption off - season, and there is no obvious consumption boost before the Mid - Autumn Festival. Despite possible decline in laying rate due to high temperature, the supply will remain loose [4] - The plum - rain season increases the probability of egg mildew, and traders are cautious in purchasing, resulting in weak demand [5] Strategy - The strategy for the egg market is cautiously bearish [6]

证券代码：002714 证券简称：牧原股份 公告编号：2025-068 注册资本：伍拾肆亿陆仟贰佰柒拾陆万捌仟壹佰叁拾伍人民币元整 公司类型：股份有限公司（外商投资、上市） 债券代码：127045 债券简称：牧原转债 牧原食品股份有限公司 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚 假记载、误导性陈述或重大遗漏。 牧原食品股份有限公司（以下简称"公司"）于 2025 年 5 月 16 日召开的 法定代表人的议案》。近日，公司完成了相关工商变更登记手续，并取得了河 南省市场监督管理局换发的《营业执照》。 一、《营业执照》具体信息如下 公司名称：牧原食品股份有限公司 住 所：南阳市内乡灌涨水田村 统一社会信用代码：91410000706676846C 法定代表人：曹治年 法定代表人辞任的，公司将在法定代 法定代表人辞任的，公司将在法定代 表人辞任之日起三十日内确定新的法定代 表人辞任之日起三十日内确定新的法定代 表人。 表人。 除上述修订，《公司章程》其他内容不变。本次《公司章程》内容修订主 要为工商主管部门要求，不涉及实质内容的变更。相关议案规定《公司章程》 变更内容最终以市场监督管理部门 ...

Core Viewpoint - The overall trend of pig prices has declined in June 2025, impacting the sales performance of major listed pig companies in China [1][2][3] Group 1: Sales Performance of Major Companies - Muyuan Foods reported a June average selling price of 14.08 CNY/kg, a year-on-year decrease of 20.59% and a month-on-month decrease from 14.52 CNY/kg [1][2] - Wens Foodstuff Group's June average selling price was 14.39 CNY/kg, reflecting a month-on-month decrease of 1.98% and a year-on-year decrease of 20.50% [1][2] - New Hope reported a June average selling price of 14.18 CNY/kg, with a month-on-month decrease of 2.81% and a year-on-year decrease of 21.53% [1][2] Group 2: Sales Volume and Revenue - Muyuan Foods sold 7.019 million pigs in June, a year-on-year increase of 58.35%, generating a revenue of 12.799 billion CNY, up 27.65% [2] - Wens Foodstuff Group sold 3.0073 million pigs, a year-on-year increase of 28.93%, with a revenue of 4.920 billion CNY, down 5.40% [2] - New Hope sold 1.33 million pigs, a year-on-year increase of 3.38%, with a revenue of 1.871 billion CNY, down 19.14% [2] Group 3: Market Outlook - The decline in pig prices is expected to impact company performance, but the second half of 2025 is anticipated to perform better than expected [3] - According to a report by招商证券, the overall pig price is expected to stabilize with support at the bottom, and the second half of the year may see better-than-expected prices due to limited supply growth [3] - 卓创资讯 forecasts that the average monthly price from July to December 2025 will range between 13.76 CNY/kg and 15.07 CNY/kg, with demand expected to decrease initially before increasing [3]

Core Points - The company is established as a joint-stock limited company in accordance with the Company Law of the People's Republic of China and other relevant regulations [4][5] - The company was approved by the China Securities Regulatory Commission for its initial public offering of 30 million shares, which were listed on the Shenzhen Stock Exchange on January 28, 2014 [4][5] - The total investment of the company is 5,462,768,135 yuan, with the same amount as registered capital [4][5] Chapter Summaries General Provisions - The company aims to protect the legal rights of shareholders and creditors while regulating its organization and behavior [4] - The company is registered with the Henan Provincial Market Supervision Administration and holds a business license with a unified social credit code [4][5] Business Objectives and Scope - The company's business objective is to lead the industry and create high-quality life through responsibility [6] - The business scope includes livestock breeding, feed production, food production and sales, and other related activities [6][7] Shares - The company issues ordinary shares, with each share having a par value of 1 yuan [7] - The company has a total share capital of 5,462,768,135 shares, all of which are ordinary shares [7][8] Shareholder Rights and Responsibilities - Shareholders have rights to dividends, attend meetings, supervise the company, and transfer their shares [12][13] - Shareholders must comply with laws and the company's articles of association, and they cannot abuse their rights to harm the company or other shareholders [15][16] Shareholder Meetings - The company holds annual and temporary shareholder meetings, with specific procedures for calling and conducting these meetings [19][20] - Shareholder meetings must be held within six months after the end of the previous fiscal year, and temporary meetings can be called under certain conditions [19][20] Voting and Resolutions - Resolutions can be classified as ordinary or special, with different voting thresholds required for each type [32][33] - Ordinary resolutions require more than half of the voting rights present, while special resolutions require two-thirds [32][33]

Core Viewpoint - The article summarizes important announcements from various listed companies in the Shanghai and Shenzhen stock markets, providing insights for investors regarding their operational status and significant developments. Group 1: Company Announcements - Jinshi Technology (002951) stated that it has not engaged in any business related to stablecoins and confirmed no undisclosed significant matters [3] - New Asia Electronics (605277) reported that revenue from its "lotus core structure" technology application is less than 3.31% of total revenue, and the technology has not yet been mass-produced [4] - New Zhonggang (605162) confirmed that its main business has not undergone significant changes and its operational status remains normal [6] - Zhuoyue New Energy (688196) plans to invest 700 million yuan in a bioenergy project in Thailand, which includes a biodiesel production line with an annual capacity of 300,000 tons [7] - Zhengfan Technology (688596) intends to acquire 62.23% of Han Jing Semiconductor, aiming to enhance its competitiveness in the semiconductor sector [8] - Alliance Electronics (688311) announced that five shareholders plan to transfer 3.68% of the company's shares through a pricing inquiry [9] - Xinpeng Co., Ltd. (002328) reported that its subsidiary's investment project has been listed on the STAR Market [10] - Bayi Shikong (688181) is expanding into edge computing services, partnering with China Broadcasting Network [12] - Dafu Technology (300134) plans to invest up to 100 million yuan in Anhui Yunta Electronics [14] - Jinchengzi (688291) noted that revenue from its laser 3D printing control systems will account for less than 2% of total revenue in 2024 [15] - Dazhi (601519) confirmed that its daily operations are normal and there are no significant changes [16] - Senlin Packaging (605500) clarified that its consumer packaging business currently represents a small portion of its overall operations [17] - Guangyunda (300227) intends to acquire 56.0299% of Yilian Unlimited for 352 million yuan [18] - Xinning Electric (301388) reported no significant changes in its operational environment [19] - Shangwei New Materials (688585) announced progress in its controlling shareholder's control change plan [20] - Yong'an Futures (600927) confirmed no undisclosed significant information [21] Group 2: Performance Reports - Jingji Zhino (000048) reported June sales of 176,400 pigs, generating revenue of 310 million yuan [23] - Kemin Foods (002661) noted a 111.22% year-on-year increase in June sales revenue from its subsidiary [24] - Lihua Co., Ltd. (300761) reported a 21.3% year-on-year decline in June chicken sales revenue [25] - Xiaoming Co., Ltd. (300967) experienced a 182.52% year-on-year increase in June chicken product sales revenue [26] - Tiankang Bio (002100) reported a 19.53% year-on-year decline in June pig sales revenue [27] - Shen Shen Fang A (000029) expects a net profit increase of 1411.7% to 2034.17% for the first half of the year [29] - Juhua Co., Ltd. (600160) anticipates a net profit increase of 136% to 155% for the first half of the year [30] - Jieshun Technology (002609) expects a net profit increase of 105.68% to 193.82% for the first half of the year [31] - Haopeng Technology (001283) forecasts a net profit increase of 228.03% to 271.77% for the first half of the year [32] - Dajin Heavy Industry (002487) expects a net profit increase of 193.32% to 227.83% for the first half of the year [33] - Huace Navigation (300627) anticipates a net profit increase of 27.37% to 33.34% for the first half of the year [34] - Yatai Co., Ltd. (002284) expects a net profit increase of 81.97% to 101.13% for the first half of the year [35] - Huagong Technology (000988) forecasts a net profit increase of 42.43% to 52.03% for the first half of the year [36] - Shangwei Co., Ltd. (603333) expects a net loss of 27 million to 35 million yuan for the first half of the year [37] Group 3: Major Contracts and Share Transactions - Hongyuan Green Energy (603185) signed a cooperation agreement with Jiangsu Shunfeng Photovoltaic Technology [38] - Pulite (002324) announced a procurement contract for a 30MWh sodium-ion battery energy storage system [40] - Hisense Home Appliances (000921) plans to increase its shareholding by 6.92 million to 13.86 million shares [41] - Yanpai Co., Ltd. (301081) intends to increase its shareholding by 17 million to 34 million yuan [42] - Yuanzu Co., Ltd. (603886) announced a plan to reduce its shareholding by up to 1% [43] - 吉祥航空 (603885) plans to reduce its shareholding by up to 1% [44] - Jin Domain Medical (603882) intends to reduce its shareholding by up to 1% [45] - Chao Tu Software (300036) announced plans for its controlling shareholder to reduce its shareholding by up to 2.01% [46] - Xintong Lian (603022) plans to reduce its shareholding by up to 3% [47] - Dongfang Zhongke (002819) intends to reduce its shareholding by up to 3% [48] - Shuo Beid (300322) plans to repurchase shares worth 20 million to 30 million yuan [49]

Sales Performance - In June 2025, the company sold 243,100 pigs, representing a month-on-month increase of 5.83% but a year-on-year decrease of 6.14% [1] - The sales revenue for June 2025 was 342 million yuan, showing a month-on-month decline of 0.87% and a year-on-year decrease of 19.53% [1] - Cumulative sales revenue reached 2.244 billion yuan, a slight year-on-year decline of 0.27% [1] Price Information - The average price of commodity pigs for the month was not explicitly stated in the provided data, but the sales figures indicate a challenging pricing environment [2]

Group 1 - The company, Jingji Zhino, reported sales of 176,400 pigs in June 2025, generating a revenue of 310 million yuan [1] - The average selling price of commercial pigs was 15.15 yuan per kilogram [1] - For the first half of 2025, the company sold a total of 1,062,100 pigs, resulting in a cumulative revenue of 1.891 billion yuan [1]

Group 1 - The core point of the article indicates that TianKang Biological (002100) reported a decline in pig sales and revenue for June 2025 compared to the previous year, with sales of 243,100 pigs, a year-on-year decrease of 6.14%, but a month-on-month increase of 5.83% [1] - The sales revenue for June 2025 was 342 million yuan, reflecting a year-on-year decrease of 19.53% and a month-on-month decrease of 0.87% [1] - For the first half of 2025, the company sold a total of 1,528,200 pigs, which represents a year-on-year growth of 9.05%, while the cumulative sales revenue was 2.244 billion yuan, showing a slight year-on-year decline of 0.27% [1]

农产品日报 | 2025-07-08 需求持续疲软，猪价偏弱震荡 生猪观点 市场要闻与重要数据 期货方面，昨日收盘生猪 2509合约14245元/吨，较前交易日变动-60.00元/吨，幅度-0.42%。现货方面，河南地区 外三元生猪价格15.00元/公斤，较前交易日变动-0.04元/公斤，现货基差 LH09+755，较前交易日变动-180；江苏地 区外三元生猪价格 15.27元/公斤，较前交易日变动-0.15元/公斤，现货基差LH09+1025，较前交易日变动-290；四 川地区外三元生猪价格14.37元/公斤，较前交易日变动-0.08元/公斤，现货基差LH09+125，较前交易日变动-340。 据农业农村部监测，7月7日"农产品批发价格200指数"为112.64，比上周五上升0.34个点，"菜篮子"产品批发价格指 数为112.67，比上周五上升0.39个点。全国农产品批发市场猪肉平均价格为20.66元/公斤，比上周五上升0.4%；牛 肉63.60元/公斤，比上周五上升0.4%；羊肉59.54元/公斤，比上周五下降0.4%；鸡蛋7.06元/公斤，比上周五上升0.1%； 白条鸡17.14元/公斤，比上周五上升0 ...

Core Insights - The company reported significant growth in pig sales and revenue for the first half of 2025, indicating strong operational performance [1] Sales Performance - In June 2025, the company's subsidiary, Xingjiang Muge, sold 58,800 pigs, representing a year-on-year increase of 144.37% and a quarter-on-quarter increase of 21.79% [1] - The sales revenue for June 2025 reached 58.26 million yuan, showing a year-on-year growth of 111.22% and a quarter-on-quarter growth of 11.20% [1] Cumulative Sales Data - For the first half of 2025, the company sold a total of 297,300 pigs, which is a year-on-year increase of 27.13% [1] - The cumulative sales revenue for the same period amounted to 329 million yuan, reflecting a year-on-year growth of 18.80% [1]