重要内容提示: ● 被担保人名称：天乾食品有限公司（以下简称"天乾食品"）、武汉天益畜牧有限公司（以下简称"武 汉天益"）、武汉天乾农牧有限公司（以下简称"武汉天乾"）、武穴市强大牧业有限公司（以下简称"武 穴牧业"）、宜昌天域农牧有限公司（以下简称"宜昌天域"）、宜都天乾农牧有限公司（以下简称"宜都 天乾"）、宜都天乾农牧有限公司麻城分公司（以下简称"宜都天乾麻城分"），以上统称"天乾食品及其 下属子公司" ● 是否为上市公司关联人：否 ● 本次担保金额及已实际为其提供的担保余额：本次担保金额合计为不超过人民币1,800.00万元，本次 担保前公司对天乾食品、武汉天乾、宜昌天域、宜都天乾、宜都天乾麻城分的担保余额分别为人民币 1,000.00万元、1,368.00万元、3,243.55万元、133.70万元、523.57万元，对其他下属子公司的担保余额为 0万元。 ● 本次担保不存在反担保 ● 公司及控股子公司不存在逾期担保的情形 ● 特别风险提示：本次被担保人天乾食品、宜昌天域、宜都天乾麻城分为资产负债率超过70%的控股子 公司，敬请投资者注意相关风险。 登录新浪财经APP 搜索【信披】查看更多考评等级 ...

每周一景： 湖南永州九嶷山风景名胜区 点击右上角菜单，收听朗读版 【农业】 猪 周期：产能去化的趋势与节奏 年初至今价格极致稳定的背后。 年初至今价格十分平稳，代表了供需在这一价格水平上接近平衡，而供 给又取决于能繁母猪。年初的能繁与价格，以及24年末的能繁与价格关系均提供了一种基准，即在当前阶 段，生产能繁同比7%的降幅对应猪价同比的基本平稳。 猪周期=能繁周期+效率周期。 25年与23年相似，24年与22年近乎一致的猪价走势背后均是来自于效率 周期和能繁周期。效率周期是指冬季疫病导致生产效率下降，不同群体受损对供给的逐次体现的过程，结 果上体现为历史上价格容易在4月份左右产生拐点，而容易在Q3出现猪价高点。22/24年近乎一致的猪价 走势便是一次典型的效率周期。能繁周期是指能繁母猪同比变化与价格同比之间在较强的相关性。结合来 看，对于猪价的判断，能繁周期决定了猪价年内的中枢水平和同比变化，而效率周期则决定了猪价的年内 节奏。 我们如何展望猪价。 结合猪周期=效率周期+能繁周期的框架来看，我们认为效率周期影响在25年仍然存 在，但或明显小于往年，因此年中价格或稳中偏强。但三季度中后期猪价下行压力加大，猪价或 ...

Core Viewpoint - The company is entering a weak pig cycle and will focus on quality improvement rather than expansion, while also seeking international development opportunities [2][5]. Group 1: Quality Improvement and Cost Reduction - As of the end of 2024, the company will have a breeding capacity of approximately 81 million heads per year, with 71.6 million heads marketed in 2014 [3]. - The company’s breeding costs have been decreasing, reaching around 12.2 yuan/kg in May, a decrease of nearly 0.2 yuan/kg month-on-month, primarily due to improved production performance [3]. - The company aims to achieve a cost target of 12 yuan/kg this year, with a significant reduction in costs already realized since the initial target of reducing costs by 600 yuan when the cost was around 16 yuan/kg [3][4]. Group 2: Feed and Technology Innovations - The company has been promoting low-soybean meal feed formulation technology, with the first phase of its synthetic amino acid project having an annual production capacity of 30,000 tons and currently operating at 80% capacity [4]. - The synthetic amino acids can replace soybeans, acting as a stabilizer against rising soybean prices [4]. Group 3: International Expansion - The company has initiated its international development strategy starting in 2024, with Southeast Asia identified as the first target market [5][6]. - A strategic cooperation agreement was signed with BAF Vietnam Agricultural Joint Stock Company, marking the first step in its overseas development [6]. - The company plans to leverage its technology, equipment, and management capabilities to provide production capacity output, including designing pig houses and training employees [6][7]. - The company has submitted an application for listing H-shares on the Hong Kong Stock Exchange, which is expected to enhance its international presence and attract global investors [7][8].

点击注册小程序 查看完整报告 根据博亚和讯，6月20日全国外三元生猪均价为14.22元/kg，周环比上涨1.43%，15公斤仔猪均价31.85元/ 公斤，周环比下跌3.16%。根据涌益咨询数据，本周商品猪出栏均重为128.28kg，周环比下跌0.54kg，全国 冻品库容率为14.04%，环比上升0.15pct。库存去化顺畅，均重保持快速下降。猪价跌破14元/公斤后，多 省二次育肥进场情绪提升，市场流通猪源减少，屠宰企业采购有一定难度，支撑猪价连续上涨。随后养殖 端逐渐恢复增量出栏，同时学校陆续放假、气温升高，白条走货难度或进一步加大，需求端无明显利好支 撑。 特别申明： 本订阅号中所涉及的证券研究信息由光大证券研究所编写，仅面向光大证券专业投资者客户，用作新媒体形势下研究 信息和研究观点的沟通交流。非光大证券专业投资者客户，请勿订阅、接收或使用本订阅号中的任何信息。本订阅号 难以设置访问权限，若给您造成不便，敬请谅解。光大证券研究所不会因关注、收到或阅读本订阅号推送内容而视相 关人员为光大证券的客户。 报告摘要 25年"618"结束，宠物经济持续兑现高景气 根据京东"618"战报，超400个宠物品牌商家销售额 ...

【财报数据】 国泰航空(00293)前五个月载客量同比增长28.4% 中国天瑞水泥(01252)发布2024年度业绩，股东应占溢利2.79亿元 同比扭亏为盈 现代牧业(01117)发盈警 预期上半年净亏损约8亿-10亿元 【重大事项】 云知声(09678)6月20日至6月25日招股 预计6月30日上市 泰德医药(03880)6月20日至6月25日招股 预计6月30日上市 佰泽医疗(02609)每股发售价4.22港元 公开发售获25.92倍认购 三花智控(02050)以上限定价 公开发售获747.92 倍认购 药捷安康-B(02617)香港公开发售获3419.87倍认购 预期6月23日上市 吉利汽车(00175)拟参与设立合资公司，可加强在巴西的品牌影响力及扩大其市场覆盖范围 中国燃气(00384)为中燃宏明电力销售引资2.16亿元 持股比例摊薄至77% 先声药业(02096)：抗失眠症药物科唯可®获国家药品监督管理局批准在中国上市 潍柴动力(02338)拟分拆潍柴雷沃并于香港港交所主板上市 中国银行(03988)拟以自有资金向中银欧洲增资不超过等值3亿欧元 永泰地产(00369)拟4300万英镑出售Topwo ...

清晨，第一缕阳光洒下戈壁滩时，牧民伊国凯正忙着把自家的羊赶出羊圈，今天他要给家里的羊剪羊毛。这几年，村里家家户户养羊的数 量都成倍增长，剪羊毛就成了一项"大工程"，一家忙不过来，于是村民们就自发前去帮忙。 央视网消息：青海省德令哈市尕海镇地处柴达木盆地，这里常年降雨量小、蒸发量大，特殊的地质条件造就了大片戈壁滩和盐碱地，被人 们称为"寸草不生"的"荒凉小城"。这几年，一家企业不仅在这片盐碱地上成功种植了大片优质牧草，还带动周边农户更新技术、种草增收，为 冬季常面临"草荒"的当地牧民带来新的致富机遇。他们是如何做到的呢？《一线调研·民企见闻》将带您了解他们的故事。 伊国凯告诉记者，今年他一共养了1000只羊，每一只都膘肥体壮，这是以前想都不敢想的。以前家里每年就养100多只羊，冬季遇上极端 天气，还会饿死不少。 伊国凯家所在的尕海镇郭里木新村是传统的牧业村，家家户户以养羊为生。每年冬天，大家最犯愁的事就是家里的羊没有草吃。 2019年，这片盐碱地上迎来转机和变化。这一年，一家来自西宁的农牧业龙头企业落户了尕海镇，在当地专注草业发展，将这片盐碱地变 成了一望无际的草场。通过逐步改善盐碱地的土壤条件，青贮玉米、燕麦 ...

Core Insights - The report from the Chinese Academy of Agricultural Sciences predicts that China's agricultural production will continue to improve, with grain output expected to reach 1.426 trillion jin in 2025, marking a significant increase from 2024's projected 1.4 trillion jin [1] - The report emphasizes the importance of stabilizing the agricultural sector to support economic recovery and enhance food security, particularly in the context of the "14th Five-Year Plan" [1] - The report highlights the need for strategic responses to the increasing import of agricultural products, particularly corn, beef, and soybeans, which could impact domestic production [2] Agricultural Production Outlook - In 2024, China's grain production is expected to increase, with a per mu yield rise of 5.1 kg [1] - The report anticipates continued growth in soybean and oilseed production, stable cotton and sugar production, and effective regulation of pig production leading to decreased pork imports [1] Import Strategies - The report suggests different strategies for managing imports of corn, soybeans, and beef, including quota management for corn and expanding agricultural trade cooperation with Belt and Road Initiative countries [2] - It emphasizes the need to reduce costs and enhance efficiency in beef production through differentiated competition strategies [2] Climate Change and Agricultural Resilience - The report notes that global climate change significantly impacts China's food supply chain, increasing post-harvest losses [2] - It calls for a focus on the entire grain production chain and participation in global climate governance to stabilize cross-border supply chains [2] Carbon Emission Reduction - The report indicates that China's agricultural sector has made significant progress in reducing greenhouse gas emissions, with lower emissions intensity compared to major economies [3] - It advocates for collaborative efforts in reducing carbon emissions from both production and consumption sides, promoting low-carbon agricultural technologies and encouraging dietary adjustments among consumers [3] Agricultural Technology and Food Security - The report stresses the importance of self-reliance in agricultural technology to enhance competitiveness and maintain food security [3] - It highlights the need to accelerate the formation of new productive forces in agriculture to support rural revitalization and the construction of an agricultural powerhouse [3]

国家能源局20日发布数据显示，5月份全社会用电量8096亿千瓦时，同比增长4.4%。 （转自《经济日报》） 分产业用电看，第一产业用电量119亿千瓦时，同比增长8.4%；第二产业用电量5414亿千瓦时， 同比增长2.1%；第三产业用电量1550亿千瓦时，同比增长9.4%。城乡居民生活用电量1013亿千 瓦时，同比增长9.6%。 前5个月，全社会用电量累计39665亿千瓦时，同比增长3.4%。分产业用电看，第一产业用电量 543亿千瓦时，同比增长9.6%；第二产业用电量25914亿千瓦时，同比增长2.2%；第三产业用电 量7406亿千瓦时，同比增长6.8%。城乡居民生活用电量5802亿千瓦时，同比增长3.7%。 前5个月，全社会用电量增速比前4个月提高0.3个百分点。中国电力企业联合会统计与数据中心主 任侯文捷分析，具体来看，第一产业用电量保持快速增长。其中，畜牧业和农业保持较快增长，同 比增速分别为15.5%和7.2%。第二产业用电量保持增长，高技术及装备制造业用电量增速相对领 先。第三产业用电量较快增长，充换电服务业等新业态用电量保持高速增长。城乡居民生活用电量 增速延续回升态势。 （王轶辰） ...

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。 ...