Core Viewpoint - The major asset restructuring plan of Bangji Technology has been abruptly terminated due to the inability to reach an agreement with the transaction party, Riverstone Farm Pte. Ltd. [1][5] Summary by Sections Termination of Major Asset Restructuring - On November 11, Bangji Technology announced the termination of its plan to acquire 100% equity of several companies from Riverstone Farm Pte. Ltd. through share issuance and cash payment [3][5]. Reasons for Termination - The company stated that despite hiring intermediaries for due diligence and negotiations, no consensus was reached on the transaction plan. The decision to terminate was made to protect the interests of the company and its shareholders [5][6]. Decision-Making Process - The termination was approved in a board meeting held on November 11, 2025, and did not require shareholder approval as the transaction was still in the preliminary stage. Independent directors confirmed that the termination complies with legal requirements and does not harm the interests of shareholders [5][6]. Impact on Business Operations - Bangji Technology indicated that its current business operations remain normal and that the termination will not adversely affect its financial status or future development strategy. The company also committed to not planning any major asset restructuring for at least one month following the announcement [5][6]. Stock Price Movement - Following the announcement of the termination, Bangji Technology's stock price experienced significant declines, dropping 8.91% and 7.54% on November 10 and 11, respectively. The stock has seen a cumulative decline of 15.78% over the week, with a total market value reduced to 3.664 billion CNY [1][6]. Previous Stock Performance - Prior to the termination announcement, the stock price had surged by 81% from June 17 to September 16 due to the anticipation of the asset restructuring [12]. The company reported a revenue of approximately 4.149 billion CNY for the first three quarters, a year-on-year increase of 155.4%, and a net profit of about 106 million CNY, up 148.64% year-on-year [12].

Group 1 - The company Jin Xin Nong (SZ 002548) announced an investor research meeting scheduled for November 11, 2025, where the board secretary and securities representative will address investor inquiries [1] - For the first half of 2025, Jin Xin Nong's revenue composition was as follows: feed processing accounted for 66.97%, livestock breeding for 32.1%, other industries for 0.58%, and raw material trading for 0.35% [1] - As of the report date, Jin Xin Nong's market capitalization was 4.6 billion yuan [1]

Core Viewpoint - The company has decided to terminate a significant asset restructuring plan involving the acquisition of 100% equity in Shandong Dongxi Farm Co., Ltd. and 80% equity in Paistong Livestock Technology Consulting (Shanghai) Co., Ltd. [1] Group 1 - The second meeting of the company's second board of directors is scheduled for November 11, 2025, to review the termination of the asset restructuring proposal [1] - The termination involves the purchase of shares and cash payment for the aforementioned companies [1]

Core Points - The company reported a significant increase in pig sales for October 2025, with a total of 71,500 pigs sold, representing a month-on-month growth of 13.84% and a year-on-year increase of 57.90% [1] - The sales revenue for October 2025 was 115.87 million yuan, showing a slight month-on-month decline of 2.01% but a year-on-year growth of 24.65% [1] - For the period from January to October 2025, the company sold a total of 561,500 pigs, which is a year-on-year decrease of 2.74%, with cumulative sales revenue of 1.03296 billion yuan, down 3.82% year-on-year [1] Sales Analysis - The substantial year-on-year increase in pig sales is attributed to the company's adjustment in pig production models and a gradual recovery in production capacity, leading to an increase in the number of marketable pigs sold compared to the previous year [2]

（文章来源：证券日报） 证券日报网讯 11月10日晚间，罗牛山发布2025年10月份畜牧行业销售简报称，公司2025年10月份销售 生猪7.15万头，环比增长13.84%，同比增长57.90%；销售收入11，587.32万元，环比下降2.01%，同比 增长24.65%。2025年1月-10月份，公司累计销售生猪56.15万头，同比下降2.74%；累计销售收入103， 296.05万元，同比下降3.82%。 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部 分內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 生豬板塊 DEKON FOOD AND AGRICULTURE GROUP 四川德康農牧食品集團股份有限公司 （於中華人民共和國註冊成立的股份有限公司） （股份代碼：2419） 自願公告 2025年10月運營快報 本公告乃四川德康農牧食品集團股份有限公司（「本公司」，連同其附屬公司，「本集 團」）作出的自願公告。 本公司董事會（「董事會」）謹此宣佈，本集團2025年10月的主要運營數據（未經審核） 如下： | | | | | | 商品肉豬 | | --- | --- | --- | --- | --- | --- | | | 生豬銷量 | | 銷售收入 | | 平均售價 | | | | | | | （人民幣元╱ | | | （千頭） | | （人民幣百萬元） | | 公斤） | | | 本期間數量 | 本年累計數量 | 本期間金額 | 本年累計金額 | | | 2024年10月 | 769.97 | 6, ...

Core Insights - The Hexi Corridor, historically significant as part of the Silk Road, is experiencing revitalization through unique agricultural and renewable energy developments driven by financial support [2][3]. Financial Support and Agricultural Development - Agricultural Bank's timely financial assistance has enabled local farmers to overcome funding challenges, facilitating the growth of organic vegetable farming in Gansu [3][4]. - The introduction of flexible loan products like "Fumin Loan" has encouraged farmers to expand operations, leading to significant increases in income and employment opportunities [4][8]. - Ma Zhaocun's organic vegetable base has grown to 3,600 acres, generating sales of 42 million yuan in 2024, with an average income of 35,000 yuan per acre, five times higher than conventional vegetable farming [4][8]. Specialty Crop Production - The region has become known for its high-quality grapes, with over 10,000 acres dedicated to grape cultivation, yielding more than 20,000 tons annually and generating over 50 million yuan in revenue [7][8]. - Financial support from Agricultural Bank has enabled local farmers to upgrade their production methods, enhancing both quality and profitability [7][8]. Seed Production Industry - Zhangye is recognized as the largest corn seed production base in China, with over 1 million acres dedicated to seed production, accounting for nearly half of the national seed supply [8][12]. - The Agricultural Bank's "Hexi Corridor Seed Loan" has provided crucial funding to ensure timely operations during critical production periods [8][12]. Dairy Farming Innovations - Dairy farming in Gulang County has faced challenges due to funding and asset limitations, prompting the introduction of the "Smart Livestock Loan" to leverage livestock as collateral [12][13]. - The bank's innovative approach includes real-time monitoring of livestock through IoT technology, enhancing asset management and reducing credit risk [14][13]. Renewable Energy Development - The region is transforming its ecological disadvantages into advantages for renewable energy, with significant solar and wind energy projects underway [16][17]. - Agricultural Bank has committed substantial financing to support these projects, including a 15 billion yuan credit line for a solar power project [18][17]. - The introduction of energy storage solutions is addressing the challenges of renewable energy intermittency, with significant investments in compressed air storage technology [18][19]. Credit Innovations - The "Electricity e-Loan" product allows businesses to leverage their electricity payment history as a basis for credit, promoting sustainable agricultural practices [19][18]. - This innovative financing model supports the development of modern irrigation technologies, enhancing water efficiency in agriculture [19][18].

Group 1 - The core viewpoint of the news is that Lihua Food Group's stock has seen a significant increase, with a rise of 5.07% to 21.75 CNY per share, and a total market capitalization of 18.211 billion CNY [1] - Lihua Food Group, established on June 19, 1997, and listed on February 18, 2019, primarily engages in the production and sales of yellow feathered chickens, pigs, and meat geese, with chicken revenue accounting for 75.84%, pig revenue 23.31%, and goose revenue 0.86% [1] Group 2 - From the perspective of fund holdings, Lihua shares are a significant investment for Ping An Fund, with the Ping An CSI Livestock Breeding ETF holding 216,300 shares, representing 2.63% of the fund's net value, ranking as the tenth largest holding [2] - The Ping An CSI Livestock Breeding ETF, established on March 4, 2021, has a current size of 1.79 billion CNY, with a year-to-date return of 15.5% and a one-year return of 6.27% [2] - The fund manager, Weng Xin, has been in charge for 1 year and 332 days, with the fund's total asset size at 3.68 billion CNY, achieving a best return of 52.05% and a worst return of -15.51% during the tenure [2]

消息面上，上周猪价格环比下跌，全国生猪价格 11.97 元/公斤，周环比-4.7%。此外，10 月中旬以来二 育快速上量博弈年前猪价行情，当前二育入场渐至尾声，市场存量二育已高于 2024 年同期。 券商研究方面，开源证券指出，当前行业生猪出栏均重高于 2024 年同期，生猪出栏均重或再度上移。 当前标肥价差已收窄，肥猪供给渐充裕，展望后市猪价反弹或渐至尾声，供给压力下猪价磨底或延续。 而当前较高的存量二育或将造成供给增量后移压力。该压力或将于年前集中释放，届时猪价或进一步承 压下行。在此背景下，生猪及仔猪均陷亏损，叠加政策疫病多因素催化，生猪去化或加速。 截至2025年11月10日 10:22，中证畜牧养殖指数(930707)上涨，成分股罗牛山(000735)上涨5.30%，蔚蓝 生物(603739)上涨2.45%，兄弟科技(002562)上涨2.00%，海大集团(002311)上涨1.89%，安迪苏(600299) 上涨1.78%。畜牧ETF(159867)上涨0.45%， 冲击4连涨。最新价报0.67元。 畜牧ETF紧密跟踪中证畜牧养殖指数，中证畜牧养殖指数选取涉及畜禽饲料、畜禽药物以及畜禽养殖等 业务 ...

养殖ETF（159865）跟踪中证畜牧养殖指数，含"猪"量约60%，感兴趣的投资者可以关注相关布局机 会。 政策端对能繁母猪存栏向下调控方向不变，在政策调控下预计规模集团能繁母猪存栏量出现下降，而中 小企业或因养殖成本压力逐步调减产能。在行业产能有序调控的背景下，预计能繁母猪存栏下降至合理 区间，中期行业盈利中枢有望提升。 资金面来看，随着猪价走低，养殖板块延续震荡，左侧布局资金持续流入，养殖ETF（159865）今年来 份额增长超118%，当前规模超81亿元。 今日，养殖板块反弹，养殖ETF（159865）涨超1%。 国金证券表示，生猪价格自年初以来呈现震荡向下态势，受益于养殖成本的改善，生猪养殖企业在上半 年均实现较好的盈利，而随着供给端的逐步增加猪价进一步下跌，25Q3全国生猪均价13.79元/公斤，同 比-29.05%，在猪价大幅下跌的背景下，部分企业已经开始出现亏损，预计行业开启去产能。 （文章来源：每日经济新闻） ...