Market Overview - The feed sector increased by 0.22% on January 14, with Petty Co. leading the gains [1] - The Shanghai Composite Index closed at 4126.09, down 0.31%, while the Shenzhen Component Index closed at 14248.6, up 0.56% [1] Key Performers in the Feed Sector - Petty Co. (300673) closed at 19.15, up 4.42%, with a trading volume of 147,100 shares and a transaction value of 278 million [1] - Jin Xin Nong (002548) closed at 6.40, up 1.75%, with a trading volume of 456,200 shares and a transaction value of 291 million [1] - Guai Bao Pet (301498) closed at 68.50, up 1.47%, with a trading volume of 56,600 shares and a transaction value of 390 million [1] Capital Flow Analysis - The feed sector experienced a net outflow of 89.6645 million from institutional investors, while retail investors saw a net inflow of 66.2951 million [2] - The overall capital flow indicates a mixed sentiment, with institutional investors withdrawing funds while retail investors are actively buying [2] Individual Stock Capital Flow - Guai Bao Pet (301498) had a net inflow of 19.8055 million from institutional investors, but a net outflow of 1.66916 million from retail investors [3] - Hai Da Group (002311) saw a net inflow of 12.0345 million from institutional investors, while retail investors had a net inflow of 470.27 thousand [3] - Petty Co. (300673) had a net inflow of 10.0145 million from institutional investors, but retail investors experienced a net outflow of 746.07 thousand [3]

Investment Rating - The industry is rated as "Leading the Market - A" with a maintained rating [5]. Core Views - The recent pig prices are expected to fluctuate within a range, with a focus on changes in production capacity [19][21]. - The white feather chicken market is experiencing a supply-demand mismatch, with stable prices but cautious market sentiment [33]. - The aquaculture sector shows stable prices, presenting potential investment opportunities [47]. Summary by Sections 1. Weekly Market Review - The agricultural sector increased by 0.98% during the latest trading week, ranking 29th among the primary industries [12]. - The animal health sector saw significant gains, with notable increases in specific stocks [15]. 2. Industry Data Tracking 2.1. Pig Farming - The average price of live pigs is 12.49 CNY/kg, with a week-on-week increase of 1.54% and a two-week increase of 4.22% [18]. - The average price of piglets is 363 CNY/head, stable over the past two weeks [19]. - The average daily slaughter volume of pigs is 226,500 heads, showing a week-on-week decrease of 5.12% [19]. 2.2. Poultry Farming - The average price of white feather chicken is 7.64 CNY/kg, down 1.04% week-on-week [33]. - The price of chicken seedlings is 3.59 CNY/bird, up 1.70% week-on-week [33]. - The market is stable, but there is a notable increase in inventory levels due to weak demand [33]. 2.3. Planting Sector - The average price of corn is 2,352.77 CNY/ton, with a slight increase of 0.02% week-on-week [42]. - The average price of domestic wheat is 2,512.98 CNY/ton, down 0.12% week-on-week [42]. - The average price of domestic soybeans is 4,048.42 CNY/ton, up 0.50% week-on-week [42]. 2.4. Aquaculture Sector - The average price of carp is 20.00 CNY/kg, stable week-on-week, with a year-on-year increase of 11.11% [47]. - The average price of crab is 260.00 CNY/kg, showing a significant year-on-year increase of 30.00% [47]. - The average price of shrimp is 320.00 CNY/kg, stable week-on-week but down 11.11% year-on-year [47].

来源：新浪港股-好仓工作室 3%收入增速领跑行业 毛利率连年提升至16.8% 海大国际作为一家技术驱动型全球化农业企业，近年业绩呈现高速增长态势。财务数据显示，公司2023 年、2024年及截至2024年、2025年9月30日止九个月的总收入分别为人民币90.25亿元、114.17亿元、 83.87亿元及111.77亿元。2024年同比增长26.5%，而截至2025年9月30日止九个月则同比大幅增长 33.3%，增速显著领先全球同行。 与收入增长相对应的是公司盈利能力的稳步提升。同期毛利分别为人民币11.68亿元、17.30亿元、12.74 亿元及18.74亿元，2024年同比增长48.1%，截至2025年9月30日止九个月同比增长47.0%。毛利率分别达 12.9%、15.2%、15.2%及16.8%，呈现连年上升态势，显示出公司在成本控制和产品定价方面的持续优 化。 净利率表现同样亮眼，从2023年的4.0%提升至2024年的6.4%，2025年前九月进一步增至7.8%，年化股 本回报率高达25.9%，反映出公司优秀的资产运营效率和股东回报能力。 饲料业务贡献96.9%收入 水產料为核心增长引擎 公司业务 ...

Core Viewpoint - Haida Holdings, a spin-off from Haida Group, has submitted its prospectus to the Hong Kong Stock Exchange for a planned IPO, aiming to leverage its technological advantages in the global agricultural sector, particularly in feed production and aquaculture solutions [3][4]. Company Overview - Haida Holdings is a technology-driven global agricultural enterprise with a proven track record of rapid growth, focusing on providing comprehensive solutions across the entire value chain of the livestock industry [5][6]. - The company primarily operates in Asia (excluding East Asia), Africa, and Latin America, utilizing advanced agricultural technologies and extensive industry resources to modernize livestock farming practices [3][6]. Financial Performance - For the nine months ending September 30, 2025, Haida Holdings reported revenues of approximately RMB 11.177 billion, representing a year-on-year growth of about 33.3%, and a net profit attributable to shareholders of approximately RMB 798 million, up 58.0% year-on-year [3][15][18]. - The company's feed sales volume reached 2.507 million tons, with year-on-year growth rates of 38.4% for 2025 and 47.4% for 2024 [5][6]. Market Position - According to Frost & Sullivan, Haida Holdings is the second-largest aquaculture feed supplier in Asia (excluding East Asia) by production volume, with an output of 1 million tons in 2024, and the third-largest feed supplier in Vietnam with a production of 1.7 million tons [3][6]. - The company has a total annual production capacity of approximately 4.8 million tons, supported by 17 production bases across six countries [6]. Use of IPO Proceeds - The net proceeds from the IPO are planned to be allocated as follows: 70% for expanding and optimizing the manufacturing network, 10% for repaying certain bank loans, 10% for upgrading the global sales and service network, and 10% for working capital and general corporate purposes [4][5]. Competitive Advantages - Haida Holdings has established a strong competitive edge in the aquaculture sector, with its aquaculture feed products accounting for 67.2% of total revenue and contributing 80.3% of total gross profit [12][18]. - The company has successfully implemented an integrated service value chain strategy in its aquaculture business, providing a comprehensive solution that includes feed, seedlings, and veterinary services [13][14].

Market Overview - The domestic market indices showed a decline, with the Shanghai Composite Index closing at 4,138.76, down 0.64% [4] - The CSI 300 Index experienced a decrease of 0.60%, closing at 4,761.03 [4] Agricultural Sector Insights - The agricultural sector reported a weekly performance with the CSI 300 Index increasing by 2.79% and the agriculture sector rising by 0.98%, ranking 28th among sectors [6] - Pig prices increased week-on-week, with average prices for external three yuan pigs in Sichuan, Guangdong, and Henan at 13.10, 12.86, and 12.93 CNY/kg respectively, showing a mixed trend [6] - The average pork price was 17.97 CNY/kg, up 1.18% from the previous week, while the average wholesale price for piglets rose by 6.45% to 16.50 CNY/kg [6] - The self-breeding and self-raising profit margin was -11.54 CNY per head, a reduction of approximately 23.05 CNY per head from the previous week [6] - The report suggests focusing on Hai Da Group due to favorable conditions in the feed industry and its competitive advantages in the market [6] Livestock Industry Trends - The pig farming industry has entered a loss phase, prompting a new round of capacity reduction driven by market forces and policy adjustments [6] - The number of breeding sows is expected to decrease rapidly, indicating a trend towards capacity reduction in the first half of the year [6] - Companies such as Wen's Foodstuffs, Shennong Group, and New Hope are recommended for investment due to their potential recovery in fundamentals and valuations [6] Poultry Sector Developments - Shengnong Development's breeding chicken business is progressing steadily, with cost control measures leading to reduced production costs [6] - The company is enhancing its revenue structure by increasing its presence in high-value channels [6] Pet Food Market Outlook - The pet food sector is anticipated to continue growing, with increasing penetration rates in pet ownership [6] - The competition is shifting from marketing to research and supply chain efficiency, suggesting a focus on brands that prioritize R&D [6] Coal Industry Analysis - The coal market is maintaining normal production levels, with a gradual recovery in supply as coal mines resume operations [8] - The demand from downstream sectors remains limited, leading to a stable but weak market outlook [8] - Investment recommendations include companies like Yanzhou Coal Mining, Shaanxi Coal and Chemical Industry, and China Shenhua Energy, with a focus on potential recovery in Q4 performance [8]

登录新浪财经APP 搜索【信披】查看更多考评等级 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导性陈述或重大遗 漏。 2026年1月12日，公司收到海大控股的通知，海大控股于当日向香港联交所递交了首次公开发行股票并 在香港联交所主板上市的申请文件（以下统称"A1文件"），且刊登于香港联交所网站 （https://www.hkex.com.hk）。 海大控股本次分拆上市的A1文件是按照香港证券及期货事务监察委员会（以下简称"香港证监会"）和 香港联交所的要求编制和刊发，为草拟版本，并未定稿，且A1文件所载资料和信息可能会适时作出更 新及修订。 三、风险提示 自《分拆预案》披露以来，公司稳步有序推进海大控股本次分拆上市的相关工作，截至本公告披露日， 本次分拆上市仍在推进过程中，尚需通过香港证监会、香港联交所的审核及取得相关部门的批准或同 意，能否以及何时通过或取得该等审核、批准或同意均存在不确定性，敬请广大投资者注意投资风险。 公司将按照相关法律、法规、部门规章、规范性文件及深圳证券交易所相关业务规则的要求，继续对本 次分拆上市的进展情况及时履行信息披露义务。 特此公告。 广东海大集 ...

2026年1月12日，分拆自海大集团(002311.SZ)的海大国际控股有限公司 Haid International Holdings Limited(以下简称"海大国际")在港交所递交招股书，拟香 港主板IPO上市。 海大国际招股书链接： https://www1.hkexnews.hk/app/sehk/2026/108067/documents/sehk26011200895_c.pdf 主要业务 海大国际，作为一家技术驱动型的全球化农业企业，于2012年收购越南海外工厂而正式开展业务，凭藉公司在技术、产品及服务方面的核心竞争优势，以 饲料业务为基石，为畜牧行业全价值链提供全面的综合解决方案。公司的核心市场为亚洲(不含东亚，下同)、非洲及拉丁美洲。 根据弗若斯特沙利文的资料，于2024年按产量计，海大国际是亚洲第二大水产料供货商，水产料产量达100万吨，也是越南第三大饲料供货商，饲料产品 产量达170万吨。 海大国际通过涵盖饲料、种苗与动保的整套产品与服务，全面满足养殖业领域的各种需求，基于严格研发提供专业化产品，并为本土化养殖及运营效率提 供深度支持。 饲料业务：是公司的主要产品，提供科学配比的饲料 ...

证券之星消息，1月13日饲料板块较上一交易日下跌0.69%，天马科技领跌。当日上证指数报收于 4138.76，下跌0.64%。深证成指报收于14169.4，下跌1.37%。饲料板块个股涨跌见下表： | 代码 | 名称 | 主力净流入(元) | 主力净占比 游资净流入 (元) | | 游资净占比 散户净流入 (元) | | 散户净占比 | | --- | --- | --- | --- | --- | --- | --- | --- | | 002548 | 金新农 | 4024.17万 | 10.99% | -1582.68万 | -4.32% | -2441.50万 | -6.67% | | 002696 | 目洋股份 | 1305.95万 | 6.35% | -2100.15万 | -10.21% | 794.20万 | 3.86% | | 603668 天马科技 | | 234.85万 | 0.83% | -277.14万 | -0.98% | 42.29万 | 0.15% | | 603151 | 邦基科技 | 137.26万 | 3.80% | -228.22万 | -6.32% | 90.97万 ...

Group 1 - The core viewpoint of the article is that Haida International has submitted a listing application to the Hong Kong Stock Exchange, with joint sponsors including JPMorgan, CICC, and GF Securities [1] - Haida International is a technology-driven global agricultural company that provides comprehensive solutions for the entire value chain of the livestock industry, primarily based on its feed business [1] - The company's key markets cover Asia (excluding East Asia), Africa, and Latin America [1] Group 2 - According to Frost & Sullivan data, Haida International is projected to be the second-largest aquaculture feed supplier in Asia (excluding East Asia) in 2024, with a production volume of 1 million tons [1] - The company is also the third-largest feed supplier in Vietnam, with a feed product output of 1.7 million tons [1]

据港交所1月12日披露，海大国际控股有限公司(简称：海大国际)向港交所主板递交上市申请，摩根大通、中金公司（601995）、广发证券为其联席保荐 人。 公司简介 招股书显示，海大国际是一家技术驱动型的全球化农业企业，以饲料业务为基石，为畜牧行业全价值链提供全面的综合解决方案。公司的核心市场为亚洲 (不含东亚)、非洲及拉丁美洲。 根据弗若斯特沙利文的资料，2024年，按产量计，公司是亚洲(不含东亚)第二大水产料供应商，水产料产量达100万吨；按产量计，亦是越南第三大饲料供 应商，饲料产品产量达170万吨。 公司通过涵盖饲料、种苗与动保的整套产品与服务，全面满足养殖业领域的各种需求。其中，饲料是公司的主要产品。公司的饲料产品种类丰富，拥有水产 料、禽料、猪料生产线。 截至2026年1月5日，公司的饲料生产基地分布于六个国家，分别为越南、印度、印度尼西亚、埃及、孟加拉国及厄瓜多尔。 于往绩记录期间，公司的收入来自销售饲料产品，主要包括水产料、禽料及猪料；种苗产品，包括虾苗及鱼苗；及动物保健品，包括环境改良剂及多种动物 保健产品。 | | | 截至12月31日止年度 | | | | 截至9月30日止九個月 | | | ...