智通财经6月17日午间新闻精选 1、智通财经记者从多位知情人士处获悉，近期有关部门召开了生猪生产调度会，会议提出了具体的生 猪生产调控目标，将对全国能繁母猪存栏量在现有基础上调减100万头左右，降至3950万头。 2、第三届链博会将于7月16日至7月20日在北京举行。中国贸促会副会长于健龙介绍，第三届链博会新 面孔多，有230多家首次参展的中外新伙伴，全球人工智能领军企业美国英伟达将首次在链博会上参 展。 3、日本央行维持政策利率在0.5%不变，将从明年第二季度开始放慢削减购债步伐。 4、截至午间收盘，沪指跌0.19%，深证成指微跌0.48点，创业板指跌0.14%。恒生指数跌0.13%，恒生科 技指数跌0.06%。 ...

东方盛虹：控股股东一致行动人拟5亿–10亿元增持公司股份 6月17日，东方盛虹（000301）发布公告称，公司控股股东盛虹科技的一致行动人、持股5%以上的公司 股东盛虹（苏州）集团有限公司（简称"盛虹苏州"）计划自本公告披露日起6个月内，通过深圳证券交 易所以集中竞价交易方式增持公司A股股份，本次增持金额不低于5亿元，不超过10亿元。 资料显示，东方盛虹成立于1998年7月，主营业务是石化及化工新材料、涤纶长丝的研发、生产和销售 等。 所属行业：石油石化–炼化及贸易–炼油化工 艾为电子：超低功耗高压180Vpp压电微泵液冷驱动产品即将量产 6月17日，艾为电子（688798）发布公告称，公司自主研发的超低功耗高压180Vpp压电微泵液冷驱动产 品将液体冷却方案带入移动设备中，该创新技术解决方案正在彻底改变移动设备的热管理系统，是国产 芯片在该领域的首个自主突破，填补了国内空白。目前该产品已在多家客户完成验证测试即将量产。 资料显示，艾为电子成立于2008年6月，主营业务是集成电路芯片研发和销售。 所属行业：电子–半导体–模拟芯片设计 *ST九有：收到股票终止上市决定 6月17日，*ST九有（600462）发布 ...

行业 生猪日报 日期 2025 年 06 月 17 日 021-60635740 期货从业资格号：F3055047 021-60635732 yulanlan@ccb.ccbfutures.com 期货从业资格号：F0301101 021-60635727 期货从业资格号：F0230741 研究员：洪辰亮 021-60635572 hongchenliang@ccb.ccbfutures.co m 期货从业资格号：F3076808 021-60635570 liuyouran@ccb.ccbfutures.com 期货从业资格号：F03094925 农业产品研究团队 研究员：林贞磊 linzhenlei@ccb.ccbfutures.com 研究员：余兰兰 研究员：王海峰 wanghaifeng@ccb.ccbfutures.com 研究员：刘悠然 请阅读正文后的声明 ＃summary＃ 数据来源：涌益，建信期货研究中心 生猪行情： 期货方面，16 日生猪主力 2509 合约小幅高开后冲高回落震荡走低，尾盘收 阴，最高 13850 元/吨，最低 13750 元/吨，收盘报 13780 元/吨，较昨日持平，指 ...

结合近期市场变化，再论生猪板块预期差 20250616 摘要 湖南省环保严查加速散户退出，或影响本地生猪产能，不仅针对散户， 部分规模化养殖场也受波及，利于供给侧改革。辽宁省亦有类似环保收 紧措施，但其他省份尚未大规模推行。 西南地区草根调研显示，上半年养殖户倾向于养殖大猪，因当地饮食习 惯偏好及饲料价格优势，育肥具有经济效益。目前散户出栏体重约 135 公斤，若降至 120 公斤，短期供应压力或增 10%。 发改委禁止二次育肥政策被部分市场参与者解读为利好，导致二次育肥 积极性提高，散户压栏意愿增强，短期内二次育肥量未减反增，与政策 初衷相悖。 上半年仔猪价格较高，主要因山东地区放养模式扩张及西南地区仔猪育 肥需求增加。散户和二次育肥人群减少母猪养殖，转而选择仔猪育肥或 商品猪二次育肥，两者存在替代效应。 西南地区需求优于山东，因冻品存量不足及反倾销政策限制进口，鲜品 和冻品价差缩小，鲜品需求替代冻品。上半年屠宰场囤货亦推动需求， 而山东地区需求稳定。 Q&A 湖南省最新的环保政策对生猪养殖行业有哪些具体影响？ 湖南省最新的环保政策主要针对生猪存栏 50 头以上的养殖场，包括鸡场和牛 场等其他养殖形态，进行 ...

Summary of the Conference Call for Dekang Agriculture Industry Overview - The current period is considered a favorable time to invest in the pig farming sector as the downward price cycle has been resolved, with policy guidance and restored market confidence expected to drive stock prices higher [2][5] - The pig farming industry has completed initial scaling, with future competition focusing on leading enterprises, emphasizing management, breeding costs, and cash flow value creation capabilities [2][6] Company Profile: Dekang Agriculture - Dekang Agriculture is the sixth largest pig farming company and the third largest yellow chicken farming company in China, with a compound annual growth rate (CAGR) of approximately 35% in pig output over the past three years, and an expected CAGR of nearly 25% over the next three years [2][7] - The company is projected to reach a pig output of approximately 11 million heads by 2025 and 15 million heads by 2026 [7] Business Model Innovation - Dekang has innovated a light asset model by outsourcing breeding to partner farmers, avoiding capital expenditures on sow farms while leveraging the same funds for greater operational leverage [2][10] - This model has resulted in a higher long-term return on assets, with an average return on equity (ROE) of nearly 12% from 2018 to 2024, compared to the industry leader at 19% [10][12] Financial Performance - In 2024, Dekang's net profit per pig was approximately 360 yuan, significantly above the industry average, with overall costs continuing to decline in 2025 [3][12] - The company’s sales net profit margin averaged around 10% from 2018 to 2024, with asset turnover rates being higher due to lower capital investment in sow farms [12] - The expected net profit before fair value adjustments for biological assets in 2025 is close to 3.5 billion yuan, reflecting a year-on-year growth of approximately 16% [14] Market Position and Valuation - Dekang's stock has shown significant growth in the Hong Kong agricultural sector, with a price-to-earnings (P/E) ratio of about 8 times for 2025, still below the industry average of 15 times [15][18] - The company is viewed as a cyclical growth stock with substantial valuation recovery potential, driven by rapid output growth and favorable pricing dynamics [16][18] Future Outlook - Dekang is expected to maintain rapid growth based on its innovative light asset farming model, supported by a favorable talent environment and strategic foresight [13] - The company’s poultry farming business is projected to maintain an output of around 90 million birds in 2025, with a conservative sales price expectation of 14.3 yuan per kilogram [13] Key Recommendations - Dekang Agriculture is recommended as a focus for investment due to its robust growth in poultry farming, reasonable sales price expectations, and significant growth in net profit before fair value adjustments [17][18] - The overall market confidence in the pig farming sector has improved, suggesting a potential catalyst for further growth in the coming months [16]

6月16日晚，邦基科技（603151）发布公告，本次重大资产重组交易的预案已出炉。 公司拟通过发行股份及支付现金的方式，向Riverstone FarmPte. Ltd.购买其持有的北溪农牧、瑞东伟力、鑫牧农牧、瑞东农牧（利 津）、瑞东农牧（山东）、威力牧业（滨州）100%股权及派斯东80%股权。公司股票自6月17日开市起复牌。 本月4日 ，邦基科技股价涨停。 4日晚间，邦基科技发布公告称，拟收购多家农牧公司股权，自6月5日开市起停牌。 Wind数据显 示，今年以来，邦基科技股价累计上涨71.03%。 重大资产重组预案出炉 据中国证券报报道，近年来，一系列支持性政策出台，鼓励企业借助资本市场，通过并购重组等方式，促进行业整合和产业升级， 不断做优做强上市公司。 2024年9月，证监会发布《关于深化上市公司并购重组市场改革的意见》，明确提出进一步强化并购重组资源配置功能，发挥资本市 场在企业并购重组中的主渠道作用，适应新质生产力的需要和特点，支持上市公司开展符合商业逻辑的并购，收购有助于补链强 链、提升关键技术水平的优质资产从而提升投资价值。 6月16日晚，多家上市公司披露重大资产重组最新进展。 远达环保 晚间 ...

Group 1 - The core point of the news is that Shandong Bangji Technology Co., Ltd. is planning a major asset restructuring by acquiring 100% equity of six companies and 80% equity of one company, which will lead to a significant shift in its business model from solely producing pig feed to integrating pig farming and sales [1][2] - The acquisition aims to leverage the modern pig farming experience from Riverstone's shareholders in the U.S. and adapt it to the Chinese context, promoting a sustainable and efficient farming model [2] - The transaction is expected to enhance the company's operational synergy, reduce risks associated with underutilization of new projects, and create additional revenue streams and profit growth opportunities [2][3] Group 2 - Post-acquisition, the company plans to integrate resources, combining management experience in pig farming with feed product innovation, which is anticipated to improve feed product development and pig farming efficiency [3] - The acquisition will also help the company enhance its brand recognition and market influence in the pig farming sector, aiming to capture a larger share of the domestic market and strengthen its pig feed business [3]

后市周期预判：政策引导下生猪降重出栏是近期大趋势，猪价短空长多，产能 去化预期提升，板块迎来明显催化。行业指数 PB 自五月底以来明显抬升，但 仍处于历史偏低位置，板块估值具备安全性和向上弹性，养殖龙头有望率先迎 来估值修复。标的方面建议关注具备成本优势的头部养殖标的牧原股份，其他 相关标的包含温氏股份、天康生物、神农集团等。 5 月上市企业销售数据： 风险提示：畜禽价格波动风险，上市企业出栏量扩张不及预期，动物疫病风险， 企业成本控制不及预期等。 2025 年 6 月 16 日 看好/维持 农林牧渔 行业报告 农林牧渔行业：政策引导规范出栏， 关注产能去化预期提升 ——生猪养殖行业月度跟踪 行业供需表现：5 月猪价前高后低。2025 年 5 月仔猪、活猪和猪肉均价分别 为 38.19 元/公斤、14.78 元/公斤和 25.49 元/公斤，环比变化分别为-2.43%、 -1.52%和-1.12%。5 月猪价前高后低，五一节后全国生猪价格回落，截止 6 月 12 日，全国出栏生猪均价 14.12 元/公斤。 供应端：24 年下半年能繁母猪存栏微增，对应 5 月出栏生猪量整体充足，叠 加饲料成本相对低位，养殖压 ...

Core Viewpoint - Tianbang Food Co., Ltd. is undergoing a restructuring process due to financial difficulties, having signed a restructuring investment agreement with Xiamen Jianfa Property Co., Ltd. and is still negotiating with multiple financial investors for better investment terms [2][6]. Group 1: Restructuring Process - Tianbang Food announced its intention to apply for restructuring due to an inability to repay debts and a lack of solvency, but with potential for restructuring value [6]. - The Ningbo Intermediate Court approved the pre-restructuring process for Tianbang Food, which has been extended multiple times, with the latest extension until November 9, 2025 [6]. - The company has received formal applications from five industrial investors and two financial investors for the restructuring process [6]. Group 2: Financial Performance - Tianbang Food experienced significant financial volatility, with a net profit of -44.62 billion yuan in 2021, a drastic decline from a profit of 32.45 billion yuan in 2020, marking a year-on-year decrease of 237.50% [8]. - The company's revenues for 2022, 2023, and 2024 were 95.71 billion yuan, 102.3 billion yuan, and 96.44 billion yuan, respectively, with net profits fluctuating significantly [8]. - In 2024, Tianbang Food returned to profitability, reporting a net profit of 1.27 billion yuan in Q1 2025 [9]. Group 3: Debt Situation - The company's debt ratio has been high, reaching 86.73% in 2023, with total liabilities of 99.18 billion yuan at the end of 2024 [10]. - Tianbang Food faces a significant cash flow challenge due to a court ruling requiring it to pay over 12.14 billion yuan related to a share repurchase dispute [10].

以下文章来源于侃见财经 ，作者侃见财经 侃见财经 . 看见不一样的财经！ 本文转载自侃见财经 值班编辑 | 江江 视觉 | 诺言 首富的更迭，反映出了产业的变迁。 近期，泡泡玛特创始人王宁取代牧原股份创始人秦英林成为河南新首富。王宁的登顶，是市场对于潮玩 经济的肯定，同时也折射出市场对于养殖企业的态度。 但对于秦英林而言，王宁的超越或许只是周期的游戏。作为全国最大的养猪企业，夯实基础向外突围才 是目前的重中之重。 因此，在此背景之下，国际化就成了牧原股份的"必选项"。 5月27日，牧原股份向港交所递交了上市申请，拟在主板上市，中信证券、摩根士丹利、高盛为联席保 荐人。 | 2025 年 | | | | 秦英林 × | | --- | --- | --- | --- | --- | | 排名 | 排名变化 | 财富 | 个人信息 | 花亦信當 | | No. 92 | ~ -33 | ¥ 1350 亿 | 秦英林、钱瑛夫妇 | 牧原 | | | | | 先生 59、女士 58 | 行业:畜牧 | 牧原股份表示，"全球生猪养殖业仍然高度分散，前五大生猪养殖企业在2024年的全球销量市场份额仅 11.8%，通过我们 ...