（文章来源：证券日报） 证券日报网讯 9月2日晚间，益生股份发布公告称，公司2025年半年度权益分派方案为：以实施权益分 派股权登记日的公司总股本1，106，412，915股扣除已回购股份21，681，600股后的股本1，084， 731，315股为基数，向全体股东以每10股派发现金红利人民币1.50元（含税），股权登记日为2025年9 月9日，除权除息日为2025年9月10日。 ...

证券日报网讯 9月2日晚间，益生股份发布公告称，截至2025年8月31日，公司通过股份回购专用证券账 户以集中竞价方式累计回购股份数量为13，381，600股，占公司总股本的比例为1.21%。 （文章来源：证券日报） ...

Core Viewpoint - Shandong Yisheng Livestock and Poultry Breeding Co., Ltd. announced an adjustment to the maximum repurchase price of its shares due to the implementation of the 2025 semi-annual equity distribution, lowering it from 11.80 CNY per share to 11.65 CNY per share, effective from September 10, 2025 [1][4]. Summary by Sections Share Repurchase Overview - On November 1, 2024, the company's board approved a share repurchase plan using bank loans and self-owned funds, with a total repurchase amount set between 100 million CNY and 200 million CNY. The initial maximum repurchase price was set at 12.00 CNY per share, estimating a repurchase of approximately 833.33 million shares (0.75% of total shares) at the lower limit and 1,666.66 million shares (1.50% of total shares) at the upper limit [2]. 2025 Semi-Annual Equity Distribution Details - On August 18, 2025, the company approved a profit distribution plan, distributing a cash dividend of 1.50 CNY per 10 shares (including tax) to shareholders, totaling approximately 162.71 million CNY. The record date for this distribution is September 9, 2025, and the ex-dividend date is September 10, 2025 [3]. Calculation of Adjusted Repurchase Price - The adjusted maximum repurchase price is calculated by subtracting the per-share cash dividend from the previous maximum repurchase price, resulting in an adjusted price of approximately 11.65 CNY per share. Based on this adjustment, the estimated repurchase quantity is approximately 858.37 million shares (0.78% of total shares) at the lower limit and 1,716.74 million shares (1.55% of total shares) at the upper limit [4].

权益分派实施公告 证券代码：002458 证券简称：益生股份 公告编号：2025-079 山东益生种畜禽股份有限公司 本公司及董事会全体成员保证信息披露内容真实、准确和完整， 没有虚假记载、误导性陈述或重大遗漏。 特别提示： 半年度权益分派方案为：以实施权益分派股权登记日的公司总股本 股为基数，向全体股东每 10 股派发现金红利人民币 1.50 元（含税） ， 共派发人民币 162,709,697.25 元，不送股且不进行资本公积金转增 股本。 一、股东会审议通过权益分派方案情况 审议通过了《2025 年半年度利润分配预案》。公司 2025 年半年度权 益分派方案为：以实施权益分派股权登记日的公司总股本扣除公司回 权益分派实施公告 购专用证券账户中的回购股份为基数，向全体股东以每 10 股派发现 金红利人民币 1.50 元(含税)，本次利润分配不送股且不进行资本公 积金转增股本。本次利润分配预案公告后至实施前，因股权激励行权、 可转债转股、股份回购等原因导致公司股本总额发生变动情形时，公 司将按照分配比例不变的原则对分配总额进行调整。具体内容详见 报》 《证券日报》和巨潮资讯网（www.cninfo.com. ...

Group 1 - The company announced an adjustment to the maximum repurchase price of its shares following the implementation of the 2025 semi-annual profit distribution [2][5] - The total amount for the share repurchase is set between RMB 100 million and RMB 200 million, with a maximum repurchase price adjusted from RMB 12.00 per share to RMB 11.80 per share [2][6] - After the semi-annual profit distribution, the maximum repurchase price is further adjusted to RMB 11.65 per share, effective from September 10, 2025 [5][6] Group 2 - The company plans to repurchase approximately 833.33 million shares, representing 0.75% of the total share capital, based on the lower limit of the repurchase fund and the upper limit of the repurchase price [2] - The semi-annual profit distribution involves a cash dividend of RMB 1.50 per 10 shares, totaling RMB 162,709,697.25, with the ex-dividend date set for September 9, 2025 [2][3] - The adjusted maximum repurchase price calculation considers the cash dividend per share, which is approximately RMB 0.1470605 [3][5]

Core Viewpoint - TianKang Biological (002100) maintains a "buy" rating due to stable pig farming operations and recovery in protein and oil business profitability [1] Group 1: Financial Performance - In H1 2025, the company reported revenue of 8.847 billion yuan, a year-on-year increase of 10.68%, and a net profit attributable to shareholders of 338 million yuan, up 22.27% year-on-year [1] - Q2 2025 revenue was 4.666 billion yuan, with a net profit of 190 million yuan, reflecting a year-on-year decrease of 14.59% [1] - The profit forecasts for 2025-2027 have been adjusted to 677 million, 913 million, and 1.576 billion yuan respectively, with corresponding EPS of 0.50, 0.67, and 1.15 yuan [1] Group 2: Pig Farming Operations - The pig farming business generated 2.849 billion yuan in revenue in H1 2025, a slight decrease of 0.95% year-on-year, with a gross margin of 11.78%, an increase of 1.55 percentage points [2] - The number of pigs sold reached 1.5282 million heads, marking a year-on-year increase of 9.05% [2] - The company aims to reduce the full-year cost to below 13 yuan per kilogram, with current costs around 13 yuan per kilogram [2] Group 3: Feed and Other Businesses - The feed business reported revenue of 2.434 billion yuan in H1 2025, down 14.24% year-on-year, with a gross profit of 246 million yuan, a decrease of 35.17% [3] - The corn storage business generated 1.305 billion yuan in revenue, up 72.32% year-on-year, while the protein and oil processing business saw revenue of 1.449 billion yuan, an increase of 97.60% year-on-year [3] - The overall profit level has improved due to the recovery in corn storage and protein oil processing profitability [3]

Core Viewpoint - The company, Yisheng Co., Ltd. (002458.SZ), has announced a share buyback program, indicating a commitment to returning value to shareholders through the repurchase of its own shares [1] Summary by Relevant Sections - **Share Buyback Details** - As of August 31, 2025, the company has repurchased a total of 13.38 million shares, which represents 1.21% of the company's total share capital [1] - The total amount spent on the share buyback is 120 million yuan, excluding transaction fees [1]

Core Viewpoint - Longda Food stated that its source of live pigs is a combination of self-breeding and external procurement, primarily focusing on direct procurement and establishing direct cooperation with large-scale breeding enterprises and farmers, with traders supplying as a supplement [2] Group 1 - The company utilizes a mixed sourcing strategy for live pigs, combining self-breeding and external procurement [2] - Direct procurement is the main approach for sourcing, with a focus on establishing partnerships with large-scale breeding enterprises [2] - The procurement structure will be dynamically optimized based on market conditions and customer demands [2]

Core Viewpoint - The article highlights the selection of 240 stocks as "golden stocks" by brokerages, with a focus on those recommended by multiple firms, indicating strong investment interest in these companies [1] Group 1: Company Summaries - **Luoyang Molybdenum (603993.SH)**: A leading global producer of copper and cobalt, benefiting from rising prices and increased production, with a net profit growth of 55.49% in H1 2025 [2] - **Muyuan Foods (002714.SZ)**: A top player in pig farming with a significant cost advantage, experiencing a 952.92% increase in net profit in H1 2025 due to rising pig prices [3][4] - **AVIC Shenyang Aircraft (600760.SH)**: A core manufacturer of fighter jets, facing a decline in revenue and profit in H1 2025 but with strong future order potential [5] - **ZTE Corporation (000063.SZ)**: The fourth-largest global telecom equipment provider, seeing a 54.39% stock price increase driven by AI demand, despite a decline in net profit [6] - **Kingsoft Office (688111.SH)**: A leading office software provider with a strong user base, experiencing growth in subscription revenue but facing high valuation concerns [9] - **NewEase (300502.SZ)**: Specializes in optical modules with a significant market share, achieving a remarkable 340.13% stock price increase due to AI demand [10] - **Haiguang Information (688041.SH)**: Develops high-end processors, benefiting from AI demand and a strong order backlog, but facing high valuation risks [11] - **Luzhou Laojiao (000568.SZ)**: A leading producer of strong-flavor liquor, experiencing a 20.50% stock price increase despite a decline in revenue and profit [13] - **Shede Spirits (600702.SH)**: A liquor company with a diverse product range, seeing a 31.25% stock price increase amid expectations of consumption recovery [15] - **Zhaoyi Innovation (603986.SH)**: A semiconductor company benefiting from rising storage chip prices, with a 56.16% stock price increase and a forecasted profit growth of 41.52% [17] Group 2: Market Trends and Investment Logic - The overall market sentiment is positive for the selected stocks, driven by sector-specific demand and price increases, particularly in commodities and technology [1][2][3][4][5][6][10][11][13][15][17] - The companies are positioned well within their respective industries, with strong competitive advantages and growth potential, although some face high valuations and market risks [9][10][11][13][15][17]

Group 1: Financial Performance - The company achieved a revenue of 1.00 billion in the first half of 2025, representing a year-on-year growth of 124.68% [2] - The net profit attributable to shareholders for the second quarter of 2025 was 0.17 billion, marking a return to profitability [2] - The total number of pigs sold in the first half of 2025 reached 259.36 thousand, a year-on-year increase of 37.75% [2] Group 2: Business Operations - The company’s fat pig sales reached 246.61 thousand, with a year-on-year growth of 49.73%, accounting for 95.08% of total sales [2] - The feed business volume increased to 322.56 thousand tons in the first half of 2025, reflecting an 11.71% year-on-year growth [3] - The company has invested in modern slaughter and meat processing bases in regions such as Hunan and Henan [3] Group 3: Cost Management and Efficiency - The company has implemented cost reduction projects for feed, vaccines, and employee salaries, leading to improved production efficiency [2] - The production cost of piglets decreased by 0.74 per kilogram compared to the beginning of the year [3] - The utilization rate of breeding sows has gradually improved, contributing to better production performance [2] Group 4: Strategic Initiatives - The company is focusing on a "company + farmer" breeding model, which accounted for 80.64% of fat pig sales in the first half of 2025 [3] - The introduction of the new Dan breed has increased its proportion from 56% to 76% over the past year [3] - The meat business is transitioning from a regional brand to a national brand, with plans for increased strategic investment in the second half of 2025 [3]