Market Performance - The Shanghai Composite Index rose by 0.23% to 3384.10 points, marking a three-day increase [1] - The Shenzhen Component Index increased by 0.58% to 10203.50 points, also achieving three consecutive days of gains [1] - The ChiNext Index saw a rise of 1.17% to 2048.62 points, continuing its three-day upward trend [1] - Total trading volume in the two markets reached 1.29 trillion yuan, exceeding 1 trillion yuan for six consecutive days [1] Sector Performance - The components sector performed notably well, surging by 5.15% [1] - Consumer electronics and communication equipment sectors followed, with increases of 3.22% and 3.14% respectively [1] - The AI index on the ChiNext rose by 3.33%, with several AI ETFs also showing significant gains [1][4] ETF Performance - The Information Technology ETF (512330.SH) increased by 3.98%, with a total share size of 555 million [3] - The AI ETF from Huaxia (159381.SZ) rose by 3.86%, with a share size of 272 million [4] - The 5G ETF (159994.SZ) increased by 3.40%, with a total share size of 1.733 billion [5] - The overall market saw 785 non-currency ETFs rise, accounting for 68% of the total [1] Valuation Metrics - The latest PE-TTM for the CSI 500 Information Technology Index is 98.22, lower than the 98.48% level maintained over the past three years [4] - The PE-TTM for the ChiNext AI Index stands at 74.41, below the 63.38% level of the past three years [5] - The PE-TTM for the CSI 5G Communication Index is 26.46, also lower than the 29.28% level over the last three years [5] Market Sentiment - The S&P 500 Consumer Select Index showed a premium of 24.20%, indicating strong market sentiment [8] - The S&P 500 Index also experienced a premium of 15.80%, reflecting positive investor sentiment [8]

Quantitative Models and Construction 1. Model Name: Coal Industry Profit Forecast Model - **Model Construction Idea**: The model estimates the revenue and profit growth rate of the coal industry based on changes in price and capacity factors[10] - **Model Construction Process**: - The pricing mechanism is determined by the long-term contract system, where the sales price for the next month is based on the last price index of the current month[10] - The model uses the year-on-year changes in price and capacity factors to estimate monthly revenue and profit growth rates[10] - **Model Evaluation**: The model provides a systematic approach to track and predict industry profitability, but it relies heavily on the stability of the pricing mechanism and external factors like market demand[10][14] 2. Model Name: Hog Supply-Demand Gap Estimation Model - **Model Construction Idea**: The model predicts the hog supply-demand gap six months ahead based on the breeding sow inventory and historical slaughter coefficients[15] - **Model Construction Process**: - The slaughter coefficient is calculated as: $ \text{Slaughter Coefficient} = \frac{\text{Quarterly Hog Slaughter}}{\text{Breeding Sow Inventory (Lagged 6 Months)}} $[15] - The potential supply six months later is estimated as: $ \text{Potential Supply (t+6)} = \text{Breeding Sow Inventory (t)} \times \text{Slaughter Coefficient (t+6, YoY)} $[15] - The potential demand six months later is estimated as: $ \text{Potential Demand (t+6)} = \text{Hog Slaughter (t+6, YoY)} $[16] - **Model Evaluation**: Historical data shows that this model effectively identifies hog price upward cycles, making it a valuable tool for supply-demand analysis[16] 3. Model Name: Steel Industry Profit Forecast Model - **Model Construction Idea**: The model predicts monthly profit growth and per-ton profit for the steel industry by integrating steel prices and raw material costs[18] - **Model Construction Process**: - The model incorporates comprehensive steel prices and costs of raw materials such as iron ore, coke, pulverized coal, and scrap steel to estimate profit growth rates[18] - **Model Evaluation**: The model provides a detailed profit analysis but is sensitive to fluctuations in raw material prices and global demand[22] 4. Model Name: Glass and Cement Industry Profitability Tracking Model - **Model Construction Idea**: The model tracks profitability changes in the glass and cement industries using price and cost indicators[23] - **Model Construction Process**: - The model monitors price and cost indicators to assess profitability changes and generate allocation signals[23] - **Model Evaluation**: The model is effective in identifying short-term profitability trends but requires additional macroeconomic indicators for long-term predictions[30] 5. Model Name: Refining and Oilfield Services Profitability Model - **Model Construction Idea**: The model estimates profit growth and cracking spreads for the refining industry based on changes in fuel prices, crude oil prices, and new drilling activities[31] - **Model Construction Process**: - The model calculates profit growth rates and cracking spreads using variations in fuel and crude oil prices[31] - Allocation signals are designed based on oil prices, cracking spreads, and new drilling activity[31] - **Model Evaluation**: The model provides a comprehensive view of industry profitability but is highly dependent on volatile oil price movements[35] --- Backtesting Results of Models 1. Coal Industry Profit Forecast Model - **Profit Growth Forecast**: Predicted a year-on-year profit decline for June 2025 due to lower coal prices compared to the previous year[14] 2. Hog Supply-Demand Gap Estimation Model - **Supply-Demand Balance**: Predicted a balanced supply-demand scenario for Q4 2025, with potential supply and demand both estimated at 18,226 million hogs[17] 3. Steel Industry Profit Forecast Model - **Profit Growth Forecast**: Predicted a slight year-on-year profit decline for May 2025, with PMI rolling averages remaining flat[22] 4. Glass and Cement Industry Profitability Tracking Model - **Glass Industry**: Predicted a year-on-year decline in gross profit for May 2025[30] - **Cement Industry**: Predicted a year-on-year profit growth for May 2025, driven by price recovery[30] 5. Refining and Oilfield Services Profitability Model - **Refining Industry**: Predicted a year-on-year profit decline for May 2025 due to lower oil prices compared to the previous year[35] - **Oilfield Services**: Observed stable new drilling activity and lower oil prices compared to the previous year, maintaining a neutral outlook[38]

Core Viewpoint - The livestock farming index in China shows a strong upward trend, with specific stocks experiencing significant gains, indicating a positive market sentiment in the livestock sector [1][2]. Group 1: Market Performance - As of June 3, 2025, the China Livestock Farming Index (930707) increased by 1.02%, with notable stock performances including Xiangjia Co., Ltd. (002982) up by 8.30%, Haida Group (002311) up by 2.89%, and Shennong Group (605296) up by 2.75% [1]. - The Livestock ETF (159867) rose by 0.49%, marking a third consecutive increase [1]. Group 2: Price Trends - Recent market data indicates a fluctuating rise in pig prices ahead of the holiday, driven by a reluctance among farming entities to sell at low prices and an increase in slaughterhouse demand due to pre-holiday stocking [1]. - The average weight of pigs sold slightly decreased last week, suggesting a potential shift in market dynamics as the industry prepares for seasonal changes [1]. Group 3: Future Outlook - Short-term projections suggest that rising temperatures may lead to increased weight gain in livestock, but the overall pig price is expected to face downward pressure due to seasonal consumption trends [1]. - In the medium term, a gradual recovery in the national breeding sow inventory is anticipated, with quality pig enterprises likely to achieve unexpected profits through increased sales and reduced costs despite a downward trend in the pig cycle expected in 2025 [1]. Group 4: Index Composition - The top ten weighted stocks in the China Livestock Farming Index (930707) include Haida Group (002311), Muyuan Foods (002714), Wens Foodstuff Group (300498), and others, collectively accounting for 68.9% of the index [2].

登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：002385 证券简称：大北农 公告编号：2025-051 北京大北农科技集团股份有限公司 北京大北农科技集团股份有限公司（以下简称"公司"）第六届董事会第三十一次（临时）会议通知于 2025年5月24日以电子邮件方式发出，会议于2025年5月29日在公司会议室以现场+通讯方式召开，本次 会议应出席董事9名，实际出席董事9名，其中董事长邵根伙先生、董事谈松林先生、林孙雄先生、邵丽 君女士现场参加会议，其他董事均以通讯方式参加会议。本次会议由董事长邵根伙先生主持。会议的召 开符合《中华人民共和国公司法》《公司章程》《董事会议事规则》的有关规定。 二、董事会会议审议情况 经本次董事会有效表决，会议审议通过了如下议案： （一）审议《关于为参股公司提供担保的议案》 具体内容详见公司指定信息披露媒体《证券时报》《上海证券报》《证券日报》及巨潮资讯网 （www.cninfo.com.cn）披露的《关于为参股公司提供担保的公告》（公告编号：2025-052）。 表决结果：9票赞成；0票反对；0票弃权。 （二）审议通过《关于为参股公司提供担保暨关联交易的议案》 第六 ...

Market Overview - A total of 53 stocks hit the daily limit up in the A-share market, with a limit-up rate of 66.25% after excluding 11 ST stocks [1] Financial Technology Sector - Yuyin Co. had the highest limit-up order volume with 879,300 hands and a total order amount of approximately 5.57 billion yuan [2] - Other notable stocks include Nanwang Energy, ST United, and Hailian Jinhui, with limit-up order volumes of 385,700 hands, 373,300 hands, and 360,000 hands respectively [2] - Yuyin Co. has established itself as a provider of intelligent comprehensive service solutions in the financial technology field, gaining high recognition in the market [2] Pharmaceutical Sector - Several pharmaceutical stocks, including Huason Pharmaceutical and Ruizhi Pharmaceutical, also hit the limit-up [3] - Huason Pharmaceutical received approval from the Singapore Health Sciences Authority for its traditional Chinese medicine product, Pain-Diarrhea Ning Granules, allowing it to be sold in Singapore [3] - Ruizhi Pharmaceutical has developed an ADC one-stop R&D platform with over 15 years of experience, assisting partners in early-stage R&D projects [3] Livestock Sector - Juxing Agriculture reported a significant increase in pig sales, reaching 328,600 heads in April, a year-on-year growth of 115.46% [5] - Xiangjia Co. sold 4.4367 million live poultry in April, generating sales revenue of 80.7027 million yuan, with month-on-month changes of 17.46% and 12.62% respectively [6] Sports Industry - Gongchuang Turf and Jinling Sports are among the stocks that hit the limit-up in the sports industry [7] - Gongchuang Turf is recognized as a preferred supplier of artificial turf by FIFA and other international sports organizations [7] - Jinling Sports is actively exploring growth points in the sports consumption service sector, aiming to enhance the quality of sports consumption services [7] Institutional Investment - Sifang Jingchuang received over 1.5 billion yuan in net purchases from institutions [8] - The top three net purchases on the leaderboard included Sifang Jingchuang, Yunnai Power, and Xue Ren Co., with net purchases of 2.37 billion yuan, 1.68 billion yuan, and 1.57 billion yuan respectively [9] - Institutional net purchases for Sifang Jingchuang reached 1.52 billion yuan, while the deep stock connect saw a net purchase of 1.9 billion yuan for the same stock [9]

Market Overview - On May 30, A-shares experienced a collective adjustment, with the Shanghai Composite Index down by 0.47%, the Shenzhen Component Index down by 0.85%, and the ChiNext Index down by 0.96%. Only about 1,100 stocks in the market saw an increase [1][2] - The total trading volume in the Shanghai and Shenzhen markets was 1,139.178 billion RMB, indicating a decrease compared to the previous trading day [2] Sector Performance - In the banking sector, there was a notable increase, with banks like Hangzhou Bank and Chengdu Bank reaching new historical highs. A total of 11 stocks in this sector have set new records this year [7] - The banking sector is expected to maintain its attractiveness due to stable fundamentals, low valuations, and the influence of new public fund regulations and long-term capital inflows [7] - The livestock sector is anticipated to respond to new policies regarding pig farming, which may lead to price catalysts in the market [5][7] Index Performance - The performance of major indices on May 30 showed declines across the board, with the CSI 300 down by 0.48% and the ChiNext 50 down by 1.02% [2][5] - The Hang Seng China Enterprises Index decreased by 0.90%, while the Hang Seng Index fell by 1.20% [4][5] Investment Products - Relevant investment products in the banking sector include the CSI Bank ETF (512730) and Hong Kong Bank LOF (A class 501025, C class 010365) [6][7] - In the livestock sector, the Livestock ETF (159867) is highlighted as a related product [6][8]

Core Viewpoint - The Industrial and Commercial Bank of China (ICBC) Linxia Branch is actively promoting financial support for local industries, particularly focusing on the livestock sector and food processing, to enhance rural revitalization and drive high-quality economic development in Linxia Prefecture [1][4]. Group 1: Financial Support for Livestock Industry - The Linxia Branch of ICBC is enhancing financial supply capabilities and services for rural revitalization, specifically targeting the local livestock industry, which is a traditional strength and a key support for rural revitalization [1]. - The bank has provided 3 million yuan in loans to Dongyang Livestock Co., enabling the company to implement a digital management platform for its sheep farming operations, allowing a small workforce to manage a large number of sheep [2]. - ICBC has issued a total of 53.24 million yuan in "Breeding e-loans" to 60 clients, supporting the development of local specialty brands in the livestock industry [2]. Group 2: Support for Food Processing Industry - The bank is also increasing financial support for food processing enterprises, facilitating technological innovation and brand development to promote industry transformation [3]. - ICBC provided 5 million yuan in loans to Yikela Mu Halal Food Co., which significantly alleviated the company's financial pressure and supported its expansion and transformation efforts [3]. - The bank has established a diverse service system, issuing 3.5 billion yuan in loans for post-disaster reconstruction and supporting 104 key industrial enterprises with 5.2 billion yuan in loans for manufacturing development [3]. Group 3: Commitment to Local Economic Development - The ICBC Linxia Branch is committed to maintaining its financial mission, focusing on local economic and industrial development, and continuously innovating financial products and service models [4]. - The bank aims to provide robust financial guarantees for the high-quality development of Linxia's specialty industries, contributing to rural revitalization and economic growth [4].

截至2025年5月29日 10:55，中证畜牧养殖指数(930707)上涨0.22%，成分股溢多利(300381)上涨2.33%，播恩集团(001366)上涨1.37%，兄弟科技(002562)上涨 1.32%，温氏股份(300498)上涨0.87%，安迪苏(600299)上涨0.74%。 养殖ETF(516760)上涨0.16%，最新价报0.63元。拉长时间看，截至2025年5月28日，养殖ETF近3月累计上涨7.20%，涨幅排名可比基金1/4。 2025年4月，生猪价格延续震荡走势但整体偏强，主要受3月标肥价差收窄刺激行业提前出栏，部分透支4月供给，缓解了市场压力。养殖盈利方面，自繁自 养利润均值达69.4元/头，环比增长64%，外购仔猪利润31.7元/头，环比扭亏。 截至5月28日，养殖ETF近6月净值上涨2.27%。从收益能力看，截至2025年5月28日，养殖ETF自成立以来，最高单月回报为17.22%，最长连涨月数为4个 月，最长连涨涨幅为17.79%，上涨月份平均收益率为4.75%。截至2025年5月28日，养殖ETF成立以来超越基准年化收益为3.29%。 从估值层面来看，养殖ETF跟踪的中证畜牧 ...

Group 1 - The China Livestock Breeding Index (930707) decreased by 0.55% as of May 28, 2025, with mixed performance among constituent stocks [1] - Leading gainers included Juxing Agriculture (603477) up by 1.41%, while the biggest loser was Ruipubio (300119) down by 3.28% [1] - The Livestock ETF (516760) fell by 0.63%, currently priced at 0.63 yuan [2] Group 2 - Muyuan Foods announced plans for a Hong Kong listing to enhance overseas business development, leveraging experience in disease prevention and pig farming technology [2] - The launch of the world's first self-propelled water body natural exchange aquaculture vessel, "Bay Area Lingding," marks a new era in deep-sea aquaculture technology in China [2] - According to Founder Securities, short-term pig prices may remain volatile, with a balanced supply-demand situation expected in the second half of the year, leading to optimistic profit forecasts for pig farming companies [2] Group 3 - As of April 30, 2025, the top ten weighted stocks in the China Livestock Breeding Index accounted for 69.38% of the index, including companies like Haida Group (002311) and Muyuan Foods (002714) [3]

Group 1: Industry Development - The "Hulamb" sheep farming base in Tunchang has increased its stock from over 500 to more than 6,000 in five years, with plans to reach 15,000 by the end of this year due to expansion efforts supported by local industry funding [4] - Tunchang has developed a unique coffee industry model that integrates production, processing, and sales, with the establishment of coffee processing plants and experience stores, creating multiple job opportunities for local residents [5] - The local government has implemented a strategy to revitalize idle land for coffee cultivation, leading to improved quality and market acceptance of Robusta coffee beans [5] Group 2: Healthcare Improvements - Tunchang has seen a significant improvement in healthcare services, with the annual outpatient visits increasing from over 220,000 to 260,000 after the establishment of a partnership with Hainan Provincial People's Hospital [6] - The average waiting time for patients has decreased from 35 minutes to 15 minutes, and the average treatment cost has been reduced by approximately 20 yuan [6] - The introduction of over 20 provincial medical experts to Tunchang has enhanced the quality of care and patient experience [6]