Core Insights - The 9th China-South Asia Expo has opened in Kunming, showcasing opportunities for trade and cooperation between China and South Asian countries amidst global economic challenges [1][2] - The trade volume between China and South Asian countries is projected to approach $200 billion in 2024, having doubled over the past decade, with China being the largest trading partner for countries like Pakistan and Bangladesh [2] - The expo features over 2,500 enterprises from 73 countries and regions, highlighting the growing economic ties and collaborative potential in various sectors [2] Group 1: Trade Opportunities - South Asian countries are increasingly focusing on the Chinese market, recognizing its vast consumer base as a significant growth opportunity [2] - The expo serves as a vital platform for South Asian businesses to enter the Chinese market, particularly in sectors like agriculture and dairy, where technology cooperation can enhance production efficiency [2][3] - The event emphasizes green trade, digital trade, and service trade, with specialized pavilions showcasing advanced manufacturing and clean energy [5] Group 2: Regional Cooperation - Yunnan province is positioning itself as a hub for trade with South Asia and Southeast Asia, with trade volumes exceeding 100 billion RMB for seven consecutive years [5] - The expo is part of a broader strategy to enhance regional connectivity through infrastructure projects and digital platforms, facilitating trade efficiency and collaboration [5] - The event fosters a spirit of cooperation and mutual development among participating countries, aiming to build a community of shared interests and prosperity [3][4]

神农集团：拟投资5.5亿元建设龙门猪场等3个项目 智通财经6月20日电，神农集团(605296.SH)公告称，公司拟投资建设文山神农猪业发展有限公司树皮彝 族乡马恒45万头优质仔猪扩繁基地建设项目，项目总投资2.8亿元；文山神农猪业发展有限公司树皮彝 族乡树皮24万头优质仔猪扩繁基地建设项目，项目总投资1.5亿元；广西大新神农牧业有限公司龙门猪 场项目，项目总投资1.2亿元。 ...

Group 1 - The China-South Asia Expo promotes economic, trade, and investment cooperation, providing long-term development opportunities for South Asian countries [1] - Pakistan's dairy industry can benefit from China's advancements in technology, logistics, and e-commerce, enhancing links to global value chains [1] - The Expo serves as a vital pathway for Pakistani enterprises to enter China's dynamic consumer market, supported by China's policies encouraging the import of quality goods and services [1] Group 2 - Collaboration in cold chain logistics, feed technology, automation, and processing equipment between Pakistan and China can significantly improve production efficiency and quality standards in the dairy sector [1] - Yunnan's unique geographical advantages position it as an important hub connecting China and South Asia, facilitating innovation, cooperation, and sustainable growth [1] - China's commitment to maintaining free and open trade acts as a stabilizing force in regional economies amid rising global trade protectionism and economic uncertainty [1]

| | | 油脂产业期现日报 | | | | | | | | | | | | | | | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 2025年6月20日 | 投资咨询业务资格:证监许可 【2011】1292号 | | | | | | | | | | | | | | | | | | 王凌辉 Z0019938 | | | | | | | 员知 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 6月19日 | | | | | | | | | | | | | | | 6月18日 张跃 张跌幅 | | | | | | | | 现价 | 江苏一级 | | 8400 | | | | | | | | | | | | | | | 8350 50 0.60% | | ...

Group 1 - The core viewpoint of the news is the performance and structure of the CITIC Securities Value Growth C fund, which has experienced a decline in net value and cumulative returns since its inception [1] - As of June 19, the fund's net value is 0.93 yuan, marking a 1.05% decrease and a cumulative decline of 4.74% over the last five trading days [1] - The fund was established in December 2020 with a total size of 111 million yuan and has recorded a cumulative return of -50.98% since inception [1] Group 2 - The current fund manager, Ms. Zhang Yan, has a master's degree and has held various positions in different fund management companies since 2011, including roles at Xinhua Fund Management and China Life Pension Insurance [2] - Ms. Zhang has managed multiple funds at Zhongyin International Securities, including the Zhongyin Securities Health Industry Flexible Allocation Mixed Fund and the Zhongyin Securities New Energy Flexible Allocation Mixed Fund [2] Group 3 - As of March 31, 2025, the top ten holdings of CITIC Securities Value Growth C account for a total of 51.76%, with notable positions in companies such as Wens Foodstuff Group (7.00%) and Bairun Co., Ltd. (6.68%) [3] - Other significant holdings include Jieya Co., Ltd. (5.82%), Muyuan Foods (5.58%), and Tangrenshen (5.04%) [3]

Group 1 - The company plans to repurchase its shares using self-owned or raised funds, with a total amount not less than RMB 30 billion and not exceeding RMB 40 billion, at a maximum repurchase price of RMB 58.60 per share [1][3] - After the implementation of the profit distribution plan for the first three quarters of 2024, the maximum repurchase price has been adjusted to RMB 57.22 per share, effective from June 26, 2025 [2][3] - Based on the adjusted maximum repurchase price, the estimated number of shares that can be repurchased is approximately 6,990.56 million shares at the upper limit and 5,242.92 million shares at the lower limit, representing 1.28% and 0.96% of the company's total share capital, respectively [3] Group 2 - The repurchased shares will be used entirely for employee stock ownership plans or equity incentive plans, with a repurchase period of 12 months from the board's approval date [1] - The company will strictly adhere to relevant regulations during the repurchase process and will disclose progress updates to investors [4][5]

Core Viewpoint - The company has announced its 2024 annual profit distribution plan, which includes a cash dividend of 5.72 CNY per 10 shares, totaling approximately 3.08 billion CNY, while adjusting for changes in total share capital due to share buybacks and convertible bond conversions [1][2][5]. Group 1: Profit Distribution Plan - The company plans to distribute a cash dividend of 5.72 CNY per 10 shares, with a total distribution amount of 3,082,880,394.31 CNY (including tax) [1][2]. - The cash dividend per share is calculated as 0.5742689 CNY based on the adjusted total share capital after excluding repurchased shares [1][2]. - The distribution plan complies with the company's commitments and distribution policies as outlined in its articles of association [1]. Group 2: Share Capital Adjustments - The total share capital of the company is currently 5,462,768,373 shares, which has changed due to the ongoing conversion period of the convertible bonds [2]. - Shares held in the company's repurchase account do not participate in the profit distribution, leading to adjustments in the distribution ratio [1][5]. - The adjusted cash dividend per share, considering the actual distribution amount, is calculated to be 0.5643439 CNY [5]. Group 3: Key Dates and Methods - The record date for the profit distribution is set for June 25, 2025, and the ex-dividend date is June 26, 2025 [3]. - The distribution will be directly credited to shareholders' accounts through their custodial securities companies [4]. - The conversion price of the "Mu Yuan Convertible Bonds" will be adjusted from 45.74 CNY to 45.18 CNY effective June 26, 2025 [5].

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"）第五届董事会第六次会议于 2025 年 6 月 19 日以通讯的方式召开。召开本次会议的通知及相关会议资料已于 2025 年 6 月 16 日通过书面、电子邮件等方式送达各位董事、监事和高级管理人员。 本次会议应出席董事 7 人，实际出席董事 7 人。公司监事会成员和高级管理人员 列席了本次会议，会议的召开符合《中华人民共和国公司法》等法律、法规及《公 司章程》的规定，会议合法有效。 本次会议由公司董事长秦英林先生主持，经与会董事认真审议，对以下议案 进行了表决，形成本次董事会决议如下： 一、会议以 7 票同意，0 票反对，0 票弃权的表决结果审议通过了《关于选 举曹治年先生为公司法定代表人的议案》。 证券代码：002714 证券简称：牧原股份 公告编号：2025-063 债券代码：127045 债券简称：牧原转债 牧原食品股份有限公司 秦英林先生受邀拟担任杭州市西湖教育基金会理事长，杭州市西湖教育基金 会为西湖大学的举办方。根据国务院颁发的《基金会管理条例》规定，"基金会 ...

Core Viewpoint - The pace of weight reduction in large-scale pig farms has accelerated due to policy changes and rising temperatures, leading to a decrease in the average weight of pigs being sold [1] Industry Summary - The overall market's capacity to absorb supply remains limited, which is suppressing the transaction pace of larger pigs [1] - Farmers still hold expectations for the future market of larger pigs, resulting in a limited overall supply during the week [1] Data Summary - As of the week of June 19, the average weight of external three yuan pigs in China was 123.78 kg, a decrease of 0.18 kg from the previous week, reflecting a slight week-on-week decline of 0.15% [1] - This average weight has reached a three-month low, with a year-on-year decline of 0.35% [1]

6月18日，养猪龙头新希望（000876.SZ，股价9.42元，市值426.34亿元）的年度股东大会在成都举行。 每经编辑｜杨夏 而在年度股东大会召开的两个月前，新希望刚完成了新一届董事换届，陶玉岭成为新总裁。这次，以总裁陶玉岭、财务总监史涵、董秘赵亮为代表的新希望 高管围绕盈利修复、数字化养猪实践及海外业务拓展等核心议题，向参会的股东和媒体一一回应。 公司高管表示，新希望已熬过猪周期低谷以来的最困难阶段，未来业务会聚焦饲料和养猪。陶玉岭坦言，公司的养猪成本与一些优秀的企业仍有差距，还需 要在育种、数字化等方面下功夫。但他同时强调，不要神化数字化养猪，数字化手段需服务于降本本质，而非盲目追求技术噱头。与此同时，新希望将"出 海"作为第三增长极，计划3~5年新增海外饲料产能300~400万吨，瞄准海外市场高利润空间与竞争格局优势，试图打开规模与利润的新想象空间。 谈盈利：最困难的阶段已经过去 6月18日，新希望的年度股东大会在成都举行。今年的会议室比去年的略小，但投资者参与热情不减，整个会议室坐得满满当当。 今年4月3日，新希望董事会完成了换届，时隔5年迎来新总裁陶玉岭。陶玉岭是资深"养猪人"。他曾任公司京津冀 ...