Investment Rating - The report maintains a "Positive" investment rating for the agriculture industry [5] Core Views - The report highlights a structural shortage in the pig industry, with pessimistic expectations likely to be corrected [2] - The report emphasizes the acceleration of capacity reduction in the pig farming sector, driven by recent policies and market conditions, which is expected to enhance long-term performance in the sector [3] Summary by Sections Investment Recommendations and Targets - The report recommends a positive outlook on the pig farming sector, suggesting that recent policies and market dynamics will drive capacity reduction, benefiting long-term performance. Key stocks include Muyuan Foods (002714, Buy), Wens Foodstuff Group (300498, Buy), and Shennong Group (605296, Not Rated) [3] - For the post-cycle sector, the report notes a continuing structural growth trend, with potential profit transmission down the supply chain if the current capacity reduction in pig farming proceeds smoothly. Relevant stocks include Haida Group (002311, Buy) and Reap Bio (300119, Not Rated) [3] - In the planting chain, the report indicates a confirmed upward trend in grain prices, with favorable fundamentals for planting and seed industries, highlighting significant investment opportunities. Related stocks include Suqian Agricultural Development (601952, Not Rated), Beidahuang (600598, Not Rated), Hainan Rubber (601118, Not Rated), and Longping High-Tech (000998, Not Rated) [3] - The pet sector is noted for being in a phase of growth and price increases, with continuous expansion in overseas markets and rising domestic brand recognition. Key stocks include Guibao Pet (301498, Not Rated), Zhongchong Co. (002891, Not Rated), and Petty Holdings (300673, Not Rated) [3] Industry Fundamentals - The report discusses the acceleration of capacity reduction in the pig industry, with the average price of live pigs as of December 26 at 11.63 CNY/kg, reflecting a week-on-week increase of 0.43% [13] - The report notes that the supply side is experiencing structural shortages, leading to price increases for medium and large pigs, with expectations of increased sales activity from smallholders as the New Year approaches [13] - The report also covers the white feather broiler chicken market, indicating a return to low volatility with prices rising to 7.82 CNY/kg, a week-on-week increase of 6.39% [19] - The report highlights the feed sector, noting that raw material prices are stabilizing at the bottom, with corn prices at 2338.63 CNY/ton, down 0.43% week-on-week, and soybean meal prices at 3174.86 CNY/ton, up 1.20% [29]

Group 1 - The core point of the article is the announcement of the third extraordinary general meeting of shareholders of New Hope Liuhe Co., Ltd., which was held on December 26, 2025, to discuss and vote on various proposals [1][2][3][4]. Group 2 - The meeting was conducted both in-person and via online voting, with a total of 869 shareholders participating, representing 2,535,580,870 shares, which accounts for 56.3132% of the total voting shares [5][6]. - Among the participants, 4 shareholders voted in person, representing 2,459,003,277 shares (54.6125%), while 865 shareholders voted online, representing 76,577,593 shares (1.7007%) [5][6]. Group 3 - The proposals discussed included amendments to the company's articles of association, with the first proposal receiving 99.8764% approval from the voting shareholders [10]. - The second proposal regarding the amendment of the rules of procedure for shareholder meetings was approved with 97.8031% of votes in favor [13]. - The third proposal concerning the amendment of the rules of procedure for board meetings also passed with 97.8016% approval [16]. - The proposal on the revision of the external guarantee management system was approved with 97.8045% of votes in favor [20]. Group 4 - The legal opinion provided by Beijing Zhonglun (Chengdu) Law Firm confirmed that the meeting's procedures, attendance, and voting results complied with relevant laws and regulations, ensuring the legality and validity of the resolutions passed [21].

证券日报网讯 12月26日，湘佳股份在互动平台回答投资者提问时表示，公司以全产业链布局畜禽产 业，确保生鲜和熟食原料品质满足中高端渠道和消费者需求；部分猪场及鸡场目前正在建设中；公司鸽 子产业属于上市公司。 （编辑 楚丽君） ...

（文章来源：证券日报） 证券日报网讯 12月26日，湘佳股份发布公告称，公司第五届董事会第二十次会议同意，将不超过1亿元 可转债闲置募集资金暂时补充流动资金，期限自董事会通过之日起不超过12个月，预计可节省财务费用 300万元；截至2025年12月20日，募集资金账户余额19，060.18万元，尚未到期余额18，875.90万元。 ...

Investment Rating - The report maintains an investment rating of "Outperform" for the agriculture, forestry, animal husbandry, and fishery industry [1]. Core Insights - The livestock prices have stabilized after a decline, and the export volume of pet food has shown year-on-year growth [1]. - The industry is currently trading at a price-to-earnings (P/E) ratio and price-to-book (P/B) ratio below historical averages, indicating potential for valuation recovery [7]. Summary by Sections Market Review - In November 2025, the agriculture, forestry, animal husbandry, and fishery index increased by 1.15%, outperforming the CSI 300 index, which fell by 2.46%, resulting in a relative outperformance of 3.61 percentage points [7][10]. - The sub-industry performance showed that the forestry processing sector had the highest gains, while the pet food sector experienced declines [10]. Livestock Industry Data Tracking - **Swine Farming**: In November 2025, the average price of external three-yuan pigs was 11.59 yuan/kg, a month-on-month increase of 0.61%, but a year-on-year decrease of 30.13% [19]. - **Broiler Chickens**: The average price of white feather broiler chickens was 3.48 yuan/jin, with a month-on-month increase of 2.65% and a year-on-year decrease of 7.69% [26]. Pet Food - In November 2025, China's pet food export volume reached 33,400 tons, a year-on-year increase of 11.23%, while the export value was 11.8 million USD, a year-on-year decrease of 3.59% [34]. Investment Recommendations - The report suggests focusing on companies such as Muyuan Foods (牧原股份), Pulaike (普莱柯), and Guobao Pet (乖宝宠物), all rated as "Buy" [1].

湘佳股份（002982.SZ）12月26日在投资者互动平台表示，公司以全产业链布局畜禽产业，确保生鲜和 熟食原料品质满足中高端渠道和消费者需求；部分猪场及鸡场目前正在建设中；公司鸽子产业属于上市 公司。 每经AI快讯，有投资者在投资者互动平台提问：目前种猪和新建鸡场项目是否投产？原本计划是2025 年12月31日前完成并投产、目前的状态进展如何？贵公司目前的乳鸽养殖进展如何？乳鸽产业是否是上 市公司的资产？还是大股东的资产？ （文章来源：每日经济新闻） ...

中新网长治12月25日电 题：山西长子：林间畜禽养殖 撬动乡村经济新支点 作者 刘小红 魏慧梅 和红波 在山西长子县宋村镇谷村的欣荣懋劳动实践教育基地内，有一处别具特色的养殖区域——琼花果园散养 基地。这里，土鸡穿梭林间觅食，大鹅结伴踱步嬉戏，孔雀不时开屏，非洲鸵鸟稳步前行，多元畜禽共 同构成一幅生动的养殖场景。 共同构成一幅生动的养殖场景。魏慧梅摄 多元畜禽 该基地占地20亩，充分利用周边丰富林木资源，搭建起"以养为主、多元融合"的生态养殖体系。目前， 园内养殖优质土鸡4000余只、生态大鹅300只，还引入孔雀、鸵鸟等特色品种。此举优化了养殖结构， 强化了生态循环功能，形成"基础养殖保效益，特色品种增亮点"的发展模式。 "我们的鸡全天在林子里散养，吃杂草、虫子，补喂玉米、豆粕等天然饲料，不使用任何添加剂。"基地 负责人陈琼花介绍，这种回归自然的饲养方式，让土鸡肉质紧实、鲜香可口，鸡蛋则蛋香浓郁、营养丰 富，凭借品质赢得市场认可。 为拓展销售渠道，基地采用"线下固本+线上增量"策略。线下，凭借产品品质吸引周边及更远地区的客 户，订单稳定；线上，借助乡村e镇直播平台，陈琼花自己直播带货。镜头前，她热情展示产品； ...

（文章来源：证券日报） 证券日报网讯 12月25日，圣农发展发布公告称，公司2025年12月25日召开2025年第五次临时股东会， 审议通过《关于变更经营范围及相应修改的议案》。 ...

据天眼查APP显示，温氏食品集团股份有限公司成立于1993年07月26日，注册资本665392.7141万人民 币。（数据宝） 12月25日温氏股份大宗交易一览 （原标题：温氏股份大宗交易成交16.50万股 成交额274.73万元） 温氏股份12月25日大宗交易平台出现一笔成交，成交量16.50万股，成交金额274.73万元，大宗交易成交 价为16.65元。该笔交易的买方营业部为中信证券华南股份有限公司广东分公司，卖方营业部为机构专 用。 进一步统计，近3个月内该股累计发生14笔大宗交易，合计成交金额为7844.90万元。 证券时报•数据宝统计显示，温氏股份今日收盘价为16.65元，上涨0.12%，日换手率为0.38%，成交额为 3.82亿元，全天主力资金净流入2859.36万元，近5日该股累计下跌2.23%，近5日资金合计净流出4349.94 万元。 两融数据显示，该股最新融资余额为9.18亿元，近5日增加1984.63万元，增幅为2.21%。 | 成交量 （万股） | 成交金额 （万元） | 成交价格 （元） | 相对当日 收盘折溢价 （%） | 买方营业部 | 卖方营业部 | | --- | --- | ...

12月24日主力资金净流入322.06万元；游资资金净流出433.7万元；散户资金净流入111.64万元。 公司公告汇总湖南一星律师事务所关于公司2025年第四次临时股东会的法律意见书 截至2025年12月24日收盘，唐人神(002567)报收于4.38元，上涨0.23%，换手率0.94%，成交量13.39万 手，成交额5843.2万元。 当日关注点 交易信息汇总资金流向 唐人神集团股份有限公司于2025年12月24日召开2025年第四次临时股东会，采用现场与网络投票相结合 方式，审议通过了关于2026年度向银行申请综合授信、开展融资租赁业务、对外提供担保、担保额度预 计、开展套期保值业务、进行期货和衍生品交易、审议相关可行性分析报告以及部分募投项目投资金额 变更及延期等八项议案。会议表决结果均符合公司章程规定，律师出具法律意见书确认会议召集、召开 程序及表决结果合法有效。 以上内容为证券之星据公开信息整理，由AI算法生成（网信算备310104345710301240019号），不构成 投资建议。 来自交易信息汇总：12月24日主力资金净流入322.06万元，显示主力对个股短期态度偏积极。 来自公司公告汇总： ...