Core Viewpoint - Guangdong province is implementing various initiatives to enhance agricultural productivity, promote rural revitalization, and develop modern industrial systems, with a focus on leveraging media and technology to support these goals [4][18][20]. Group 1: Media Empowerment in Agriculture - The "Media+" initiative aims to enhance the agricultural market system through information dissemination, resource integration, brand building, and public opinion guidance, with five main objectives including promoting consumption and foreign trade [4][20][24]. - The action plan outlines eight key tasks to achieve goals such as increasing agricultural efficiency, rural vitality, and farmers' income by 2027 [22][28]. Group 2: Marine Economy Development - Maoming city is focusing on developing a modern marine economy, emphasizing the integration of port, industry, city, and rural development, and aims to establish a competitive marine industry system [12][41][52]. - The city plans to create four major engines: port manufacturing, fishing port economy, marine renewable energy, and coastal cultural tourism [52][56]. Group 3: Modern Industrial System in Jiangmen - Jiangmen has released a 2025 action plan to build a modern industrial system, which includes eight actions and 27 specific measures aimed at integrating primary, secondary, and tertiary industries [13][60][62]. - The plan targets a total industrial output value of over 900 billion yuan for key agricultural products by leveraging technological innovation and enhancing traditional industries [69]. Group 4: Rural Revitalization and Infrastructure - The "Hundred-Thousand-Ten Thousand Project" is being implemented across various counties to strengthen county-level industries, improve rural infrastructure, and enhance the quality of life in rural areas [31][72][76]. - Initiatives include enhancing agricultural productivity, improving rural living conditions, and promoting sustainable development through targeted investments and community engagement [78][84].

1. Report Industry Investment Rating No relevant content provided. 2. Core Viewpoints of the Report - In H1 2025, the commodity market showed a narrow - range oscillation, with the CSI Commodity Futures Index rising slightly by 0.20%. Positive returns mainly came from gold, silver, and copper, while negative returns were mainly from rebar, rubber, and soda ash [2]. - The CSI Commodity Index's year - on - year sequence has bottomed out and rebounded, potentially indicating that the PPI sequence is in the process of bottoming out and rebounding. Microscopically, the sector index trends reflect certain operational pressures in the steel and chemical industries [2]. - Investors should gradually reduce their reliance on fixed - income assets and practice the methodology of stock - bond - commodity asset allocation, increasing the proportion of commodities in the portfolio [2]. - The CSI Commodity Index has shown a relatively independent and excellent performance compared to overseas indices, but the recent increase in correlation needs attention. Adding an appropriate amount of commodities to the traditional stock - commodity portfolio can significantly improve the return - risk ratio of the portfolio [2]. 3. Summary According to the Directory 3.1 Market Review - In H1 2025, the commodity market presented a narrow - range oscillation. The CSI Commodity Index rose slightly by 0.20% annually, with an amplitude of only 10.27%. It was difficult to form a long - term trend, showing an inverted V - shaped oscillation after a strong start [9]. - Driven by frequent macro - events, the commodity market was repeatedly disturbed by policies and geopolitics. With the global economy still bottoming out, the demand side was weak, especially for industrial products. Three macro black - swan events occurred in H1 [12][14]. - There were two obvious characteristics in the commodity market: the significant differentiation between agricultural and industrial products, and the further differentiation within commodities due to different types of event shocks [15]. 3.2 Index Return Attribution 3.2.1 Roll Yield Contribution - The roll yield in H1 2025 was positive overall, at 1.07%, an improvement compared to 2024, possibly suggesting that the global economic growth is bottoming out. Most months had positive roll yields, except for March which had a large negative value [20]. 3.2.2 Sector Return Contribution - In H1 2025, the trends of industrial and agricultural products diverged. The agricultural product market had a small price increase and relatively low volatility, while the industrial product market had a large price decline and relatively large amplitude fluctuations. Agricultural products outperformed industrial products in most months [23]. 3.2.3 Variety Return Contribution - At the sector level, black and energy - chemical sectors mostly made negative return contributions, while precious metals, non - ferrous metals, and agricultural products mostly made positive return contributions. At the variety level, gold, silver, and copper had large positive return contributions, while rebar, rubber, and soda ash had large negative return contributions [24]. 3.3 Macro - Micro Representativeness 3.3.1 Macro Level: The CSI Commodity Index Leads PPI by About 2 Months - The CSI Commodity Index's year - on - year sequence is highly correlated with the PPI year - on - year and can lead by about 2 months. Recently, the commodity index's year - on - year sequence has bottomed out and rebounded, perhaps indicating that the PPI sequence is bottoming out and rebounding [25]. 3.3.2 Micro Level: The Sector Index Moves in Sync with the Industry's Total Profits - The year - on - year sequence of the sub - sector index is highly correlated with the year - on - year sequence of the corresponding industry's total profits. The energy - chemical futures index is in the process of bottoming out, and the steel futures index is still finding its bottom [29]. 3.4 Comparison of Major Asset Classes - In the long - term, the commodity market has similar returns but lower risks compared to the equity market. In H1 2025, the commodity market's risk indicators were still better than those of the equity market [38][39]. - The current risk - free interest rate is quite low, and the investment cost - performance of bonds has declined significantly. Investors should gradually practice the methodology of major asset allocation and increase the proportion of commodities in the portfolio [40]. - Since 2024, the correlation between the commodity market and the equity market has been increasing. In H1 2025, the correlation remained relatively high, but it decreased rapidly at the end of June [43]. 3.5 Comparison with Overseas Indices - In the long - term, the CSI Commodity Index has obvious advantages in both returns and risks compared to overseas mainstream commodity indices. In H1 2025, it still had better performance in risk control [47][48]. - The correlation between the CSI Commodity Index and overseas mainstream commodity indices increased rapidly in early April and remained high in Q2, mainly due to the impact of the tariff shock [50]. 3.6 Application Cases - Adding an appropriate amount of commodities to the traditional stock - commodity portfolio can significantly improve the return - risk ratio of the portfolio. Replacing half of the stocks in the traditional 40 - 60 stock - bond portfolio with commodities can significantly reduce the portfolio's volatility and drawdown while keeping the returns similar [54][60].

在深寻食品产业园，南桥镇党委书记凌志伟饶有兴致地介绍起园区的发展历程。园区于2022年启动建 设，按照"建一个企业、兴一个产业、富一方百姓"的要求，现已进驻企业5家，满园后可容纳企业12家 以上，实现农产品加工产业集聚，并有效带动群众按需做配套、发展种养殖，在家门口实现增收致富。 目前，园区已有务工人员370多名、基地职业农民1200多名，带动自主经营农户3000多户。 巧耕人家农业发展有限公司是首批进驻园区的企业之一，已经实现了蔬菜种植、农产品加工、预特菜深 加工、冷链物流配送等全产业链布局，以独特的乳酸菌发酵工艺，大幅降低了泡菜产品的亚硝酸盐含 量，获评绿色食品、富硒产品以及全国名特优新产品等称号。 巧耕人家的快速发展是深圳支援合作寻乌的生动实践。"要打破以往单纯依靠捐钱捐物的帮扶模式，更 加紧密联结两地资源优势，加快推动产业承接转移，实现共赢发展。"赵一麟说。 寻乌县是东江源头县，好山好水好生态孕育了品类丰富、品质一流的农特产品，而深圳作为常住人口近 1800万的国际化大都市，"菜篮子""果盘子"市场需求巨大。 近年来，寻乌县大力发展现代农业产业，致力于成为大湾区的"菜园子"，已有多家企业被认定为大湾 ...

Core Viewpoint - The collaboration between South China Agricultural University and Yunfu City aims to enhance investment cooperation in agriculture and related sectors, promoting a new model of integration between academia, government, and industry [2][3][8]. Group 1: Event Overview - The "Investment Matching and Exchange Conference" was held on July 10, co-hosted by South China Agricultural University and Yunfu City Government, with over 200 representatives from more than 140 alumni enterprises attending [2][5]. - The conference focused on aligning demands and promoting investment cooperation in areas such as specialty agricultural industrialization, deep processing of agricultural products, and ecological cultural tourism [3][4]. Group 2: Strategic Goals - The university aims to strengthen the integration of production, education, and research, talent cultivation, platform construction, and collaboration between government and academia through four main pathways [7]. - The goal is to create a new development model that integrates "universities + government + alumni + industry," leveraging alumni networks to foster deeper and broader cooperation with Yunfu City [8][9]. Group 3: Local Government Support - Yunfu City expressed its commitment to providing an optimal business environment for alumni enterprises, ensuring they can effectively operate and succeed in the region [11][12]. - The local investment promotion bureau highlighted the advantages of the agricultural industry in Yunfu and the supportive policies available for investors [15][16]. Group 4: Collaboration Outcomes - Representatives from alumni enterprises, including Wens Foodstuff Group, shared successful experiences of collaboration between schools, companies, and farmers [19]. - Several projects reached cooperation intentions during the conference, with participants emphasizing the role of alumni networks in advancing the high-quality development of modern agriculture in Yunfu [21][22].

Core Viewpoint - The integration of new media and e-commerce presents significant opportunities for promoting agricultural products, as demonstrated by a practical initiative from Yangzhou University’s School of Journalism and Communication [1]. Group 1: Initiative Overview - The initiative, named "放手一播" (Let It Go Live), utilizes live streaming to enhance the sales of agricultural products by creating a digital bridge to broader markets [3]. - The project is part of the 15th National College Student E-commerce "Innovation, Creativity, and Entrepreneurship" Challenge, focusing on live e-commerce practices [3]. Group 2: Research and Findings - The team conducted research in Xinjiang's Bayingolin Mongol Autonomous Prefecture, identifying that many high-quality agricultural products suffer from limited marketing channels, leading to local market confinement [3]. - Traditional products like hand-made beef are of high quality but face sales challenges due to their remote locations and single marketing methods [3]. Group 3: Live Streaming Strategy - The team employed creative live streaming techniques, combining traditional cultural elements like "xiangsheng" (a form of Chinese comedic dialogue) with product promotion, achieving a 50% viewer engagement rate [5]. - The live streams garnered over 200,000 exposures, with peak simultaneous viewers exceeding 3,000, resulting in daily sales reaching several thousand yuan [5]. Group 4: Cultural Integration and Future Plans - The initiative emphasizes infusing cultural narratives into agricultural products, aiming to enhance marketing innovation and activate rural cultural identity [6]. - Future plans include launching a "Farmer Anchor Training Camp" to cultivate local live streaming talent and improve logistics for cold chain transportation [6].

Group 1 - The article highlights the successful integration of agricultural products from Jiangxi Province's Ganzhou City into the Guangdong-Hong Kong-Macao Greater Bay Area, showcasing the transportation of fresh produce like honey tangerines and peaches to urban markets [1] - Ganzhou has established 90 "vegetable basket" production bases and 31 "Zhenpin" brand agricultural enterprises, enhancing the market presence of local agricultural products [1] - The region faced challenges such as low wholesale prices, reliance on intermediaries, and poor sales channels, prompting a shift towards agricultural industrialization and upgrading [1] Group 2 - Companies like Shenjia Food Technology have set up centralized processing bases in Xunwu County, attracted by low rental costs, which facilitates transportation to the Greater Bay Area [1] - Shenjia Food has built a cold storage facility capable of holding 600 tons of produce, utilizing advanced processing techniques to enhance product value, resulting in an annual output exceeding 200 million yuan [1] - Technological innovations in companies like Qiaogengrenjia and Yangjiaoyuan have led to significant revenue increases, with Qiaogengrenjia tripling its income and Yangjiaoyuan boosting output value by 150% [2] Group 3 - The local government is implementing policies to support agricultural brand creation, offering rewards for quality certifications and encouraging direct market connections with the Greater Bay Area [2] - The establishment of processing experience parks and research centers in Shenzhen is fostering talent exchange and creating a supply chain that benefits both the Bay Area and the local agricultural sector [2]

Core Viewpoint - Jinhe Biology (002688.SZ) expects a net profit increase of 40%-55% for the first half of 2025, projecting a profit range of 127 million to 141 million yuan compared to the same period last year [1] Group 1: Financial Performance - The expected net profit for the first half of 2025 is between 127 million and 141 million yuan, indicating a growth of 40%-55% year-on-year [1] - The growth is attributed to strong sales in the veterinary chemical drug segment, particularly the main product, Chlortetracycline, which saw increased sales in both domestic and overseas markets [1] Group 2: Operational Highlights - The overseas market sales have continued to grow, contributing positively to overall performance [1] - The completion of the sixth phase project has increased production capacity, ensuring supply meets demand and generating additional profits [1] Group 3: Sector Contributions - The agricultural product processing segment benefited from a decline in corn prices, which also contributed to the overall performance improvement [1]

1. Report Industry Investment Rating - Not provided in the given content 2. Core Viewpoints of the Report - This week, the three major oils fluctuated and declined. Palm oil had the largest decline among the three major oils due to factors such as OPEC+ members agreeing to increase production, the negative impact of US tariff policies on the global economic outlook, and a bearish MPOB report. Soybean oil had a relatively small decline in the oils due to the impact of US tariff policies on increasing the cost of domestic soybean imports. In the future, as a large number of soybeans arrive at ports and the oil mill operating rate increases, the shortage of domestic soybean oil will soon be alleviated. Against the background of low - level fluctuations in crude oil, the demand outlook for palm oil as biodiesel is limited. Coupled with the current entry into the production - increasing cycle, there is a need for the price difference between palm oil and soybean oil to return, and the market may continue to fluctuate weakly [9][10]. - For the feed sector, the USDA supply - demand report this month did not make major adjustments to South America. Brazil's bumper harvest pattern is set, and the large - scale arrival of soybeans starting from April will still bring certain supply pressure to the domestic market. However, the report significantly increased the domestic soybean crushing demand in the US, which also reflects that under the current tariff policy, the import volume of US oils may decline, which is beneficial to domestic soybean oil consumption in the US. The CBOT US soybean price also rebounded after a decline. Domestically, it is currently the window period for the arrival of Brazilian soybeans. Although the Brazilian premium has remained firm under the influence of tariff policies, which supports the import cost to a certain extent, the overall arrival volume in the next few months is still large, and the domestic downstream supply is not tight in the short term. Future policy changes and domestic soybean arrival situations need to be focused on [12]. - In the pig market, the supply side is expected to remain stable in the future, with no significant changes in the slaughter volume and weight. The consumption side shows weak growth in slaughter data and synchronous growth in frozen product inventory, with large resistance in white - striped pork sales and weak consumption. It is expected that the consumption side may decline slightly in the future. Overall, there is no obvious contradiction between supply and demand in the pig market, and the price is expected to fluctuate steadily. As the delivery month approaches, the basis of near - month contracts may converge. At the current price, the probability of large - scale entry of secondary fattening is not high, and the pig price is expected to fluctuate [14]. - For the cotton market, the short - term risks of the cotton futures market have been cleared, but the macro uncertainty is still high, and the cotton price is expected to fluctuate within a range. Domestically, the short - term supply is still abundant, and the expected cotton - planting area in the new year is expected to increase steadily. The downstream performance is still weaker than the peak - season level, and the demand is expected to weaken after April. Internationally, the April USDA report slightly increased the global cotton ending inventory, with a neutral - to - bearish overall adjustment. As the Northern Hemisphere enters the sowing season and the expectation of reduced planting in the new year of US cotton increases, attention has gradually shifted to the new - season supply, and the drought situation in the main US cotton - producing areas needs to be continuously monitored [16]. - Regarding the sugar market, short - term international sugar prices are still strongly supported, and the domestic sugar price is expected to fluctuate at a high level. In the medium term, the sugar price may still be under pressure. The short - term focus is on the weather and the start of the crushing season in Brazil, as well as the weather in Guangxi and the import rhythm in China [17]. 3. Summary According to Relevant Catalogs 3.1 Comprehensive Evaluation and Strategy - **Supply**: The weekly national oil mill imported soybean crushing volume was 1.0301 million tons, with a decrease in soybean crushing, and the imported rapeseed crushing was 70,000 tons, with a decrease in rapeseed crushing. The oil mill's expected operating rate this week was slightly reduced, and the crushing volume decreased. As of April 4, the actual soybean crushing volume of the oil mill was 1.0301 million tons, and the operating rate was 28.96%. The sample showed that the inventory of breeding sows in March was 5.0484 million heads, a slight month - on - month increase of 0.08%; the elimination volume of breeding sows in March was 97,826 heads, a month - on - month increase of 0.18%; the inventory of commercial pigs was 35.4457 million heads, a month - on - month increase of 0.27%; the slaughter volume of commercial pigs in March was 10.3928 million heads, a month - on - month increase of 17.43%. According to the Cotton Information Network, the national commercial cotton inventory at the end of March was 4.8396 million tons, a month - on - month decrease of 12.24%, 19,800 tons lower than the same period last year, a decrease of 0.41%. As of the end of March in the 2024/25 sugar - making season, 43 sugar mills in Yunnan and 1 in Guangxi were still in production, and sugar mills in other provinces (regions) had all stopped production. The total national sugar production in this sugar - making season was 10.7479 million tons, a year - on - year increase of 1.1748 million tons, an increase of 12.27% [9][12][15]. - **Demand**: The weekly national spot trading volume of palm oil was 5,299 tons, soybean oil was 145,000 tons, and rapeseed oil pick - up was 8,300 tons. Palm oil and soybean oil increased, while rapeseed oil decreased. The national soybean meal trading volume this week was 1.3546 million tons, a month - on - month increase of 709,000 tons, with an average daily trading volume of 270,900 tons, an average daily month - on - month increase of 141,800 tons. This week, the slaughter data of pigs showed weak growth, and the frozen product inventory also increased synchronously. The downstream performance of the cotton market was still weaker than the peak - season level, and the demand is expected to weaken after April. As of the end of March, the national cumulative sugar sales volume was 5.9958 million tons, a year - on - year increase of 26.64%; the cumulative sugar sales rate was 55.79%, a year - on - year acceleration of 6.33 percentage points [9][12]. - **Inventory**: The weekly port palm oil inventory increased to 373,400 tons, the oil mill soybean oil inventory decreased to 791,200 tons, and the coastal oil mill rapeseed oil inventory decreased to 127,000 tons. This week, the oil mill's inventory was 791,200 tons, a decrease of 47,900 tons from last week, and the rapeseed meal inventory was 31,300 tons, an increase from last week. This week, the frozen product storage rate of key domestic slaughtering enterprises was 17.38%, an increase of 0.12 percentage points from last week. This week, the raw material inventory of yarn mills increased slightly, and the finished - product cotton yarn inventory increased slightly; the cotton yarn inventory of weaving mills decreased slightly, and the all - cotton grey fabric inventory continued to increase. As of the end of March in the 2024/25 sugar - making season, the national monthly industrial sugar inventory was 4.7521 million tons, a year - on - year decrease of 86,500 tons [9][12][15]. - **Basis**: The spot basis includes North China first - grade soybean oil Y05 + 324, East China fourth - grade rapeseed oil OI05 + 95, and South China 24 - degree palm oil P05 + 266. The spot basis of soybean meal in South China is M05 - 114, and that of rapeseed meal in Fujian is RM05 + 1. The spot basis of live pigs in Henan is LH05 + 455. As of this Friday, the spot price of cotton in Xinjiang is 14,215 yuan/ton, a month - on - month decrease of 424 yuan/ton. The spot basis is CF05 + 1405, a month - on - month increase of 276. The national weighted average spot price of cotton is 14,275 yuan/ton, a month - on - month decrease of 627 yuan/ton, and the spot basis is CF05 + 1465, a month - on - month increase of 73. As of this Friday, the spot price of sugar in Nanning, Guangxi is 6,170 yuan/ton, a month - on - month decrease of 90 yuan/ton, and the spot basis is SR05 + 84, a month - on - month increase of 13 [9][12][15]. - **Profit**: This week, the import profit of Malaysian palm oil for April shipments was - 699 yuan/ton. This week, the on - paper gross profit of Brazilian soybeans for May shipments was 265 (with a premium of 175), and the on - paper crushing gross profit of Canadian rapeseed for May shipments was 284. As of April 10, the self - breeding and self - raising profit this week was 129.30 yuan/head, a decrease of 2.67 yuan/head from last week, and the profit of purchasing piglets for breeding was 65.80 yuan/head, a loss of 39.06 yuan/head compared with last week. As of April 10, the national immediate spinning profit of 32s pure - cotton ring - spun yarn was - 297.4 yuan/ton, an increase of 723.1 yuan/ton from last week. On April 11, the sales profit of white sugar produced from imported Brazilian raw sugar in China was about 1,665 yuan/ton (within the tariff quota) or 294 yuan/ton (outside the tariff quota); the sales profit of white sugar produced from imported Thai raw sugar was about 1,782 yuan/ton (within the tariff quota) or 450 yuan/ton (outside the tariff quota) [9][12][15]. - **Cost**: According to the data released by the shipping survey agency SGS, it is estimated that the export volume of Malaysian palm oil from April 1 to 10 was 211,252 tons, a decrease of 6.63% compared with the export volume of 226,247 tons in the same period last month. The MPOB data showed that the Malaysian palm oil production in March was 1,387,193 tons, a month - on - month increase of 16.76%, higher than the Reuters' expectation of 1.31 million tons; the palm oil import was 121,886 tons, a month - on - month increase of 82.51%; the palm oil export was 1,005,547 tons, a month - on - month increase of 0.91%, lower than the Reuters' expectation of 1.02 million tons; the palm oil inventory was 1,562,586 tons, a month - on - month increase of 3.52%, higher than the Reuters' expectation of 1.56 million tons. This week, the price of US soybeans fluctuated steadily. As of April 10, the closing price of US soybeans was 1,035.50 cents per bushel. As of April 10, the average cost of secondary fattening this week was 14.40 yuan/kg, an increase of 0.01 yuan/kg from last week; the pig - to - grain ratio was 6.46:1. The Cotlook:A index: 1% tariff price was reported at 13,825 yuan/ton, and the China Cotton Price Index: 328 was reported at 14,275 yuan/ton, with an internal - external cotton price difference of 450 yuan/ton. On April 11, the processed cost of imported Brazilian raw sugar (with a premium of 0.69) in China was about 4,884 yuan/ton (within the tariff quota) or 6,255 yuan/ton (outside the tariff quota); the processed cost of imported Thai raw sugar (with a premium of 0.88) was about 4,765 yuan/ton (within the tariff quota) or 6,099 yuan/ton (outside the tariff quota) [9][12][15]. 3.2 Oilseeds Sector Supply and Demand - **Palm Oil**: Analyzed the basis, monthly spread, import cost, and profit of palm oil, as well as the supply and demand data of GAPKI and MPOB palm oil, and the direct import volume of China's three major oils, domestic oil mill crushing, production, and inventory [23][56][59]. - **Soybean Oil**: Analyzed the basis, monthly spread, import cost, and profit of soybean oil [37][41]. - **Rapeseed Oil**: Analyzed the basis, spread, import cost, and profit of rapeseed oil, as well as the price difference between soybean oil and palm oil, and between soybean oil and rapeseed oil in Guangdong [47][53]. 3.3 Feed Sector Supply and Demand - Analyzed the basis, monthly spread, price difference, and profit of soybean meal and rapeseed meal, as well as the import volume of oilseeds and meal, domestic soybean meal and rapeseed meal production, and inventory [72][88][91]. 3.4 Pig Sector Supply and Demand - Analyzed the basis, monthly spread, monthly supply and demand, weekly profit, and weekly pig - to - grain ratio of live pigs [100][107][110]. 3.5 Cotton Sector Supply and Demand - Analyzed the basis, monthly spread, supply and demand (including import volume, industrial inventory, commercial inventory, factory load, inventory, and retail and export data), and global and regional supply and demand of cotton [122][129][151]. 3.6 Sugar Sector Supply and Demand - Analyzed the price, basis, and supply and demand (including domestic and international production, inventory, import, and export data) of sugar [161][167][169].

Group 1 - Yuxi City has focused on improving the business environment and attracting investment, resulting in a total of over 390,000 operating entities [1] - The city has implemented reforms to address urgent issues faced by enterprises, including the launch of 40 high-frequency services, generating 373,400 service requests [1] - Yuxi has coordinated solutions for 154 demands from 118 enterprises regarding land use, financing, and talent needs [1] Group 2 - The city has streamlined business registration processes, reducing the time for enterprise registration to 0.5 working hours [2] - Yuxi has fostered the development of foreign trade entities, with 52 enterprises engaged in agricultural exports and 17 vegetable export companies obtaining cross-border e-commerce qualifications [2] - The city has established a tiered innovation cultivation mechanism, nurturing 1,608 technology-based SMEs and 241 high-tech enterprises [2] Group 3 - Yuxi aims to create a better environment for the development of the private economy and support high-quality development through a three-year action plan [2] - The city is committed to optimizing the business environment, enhancing investment attraction, and supporting private enterprises to grow stronger [2]

Group 1 - The core stock price of Jiahua Co., Ltd. (603182) closed at 13.81 yuan on July 11, 2025, reflecting a 2.37% increase from the previous week's closing price of 13.49 yuan [1] - The stock reached a nearly one-year high of 13.95 yuan during intraday trading on July 11, with a low of 13.39 yuan on July 7 [1] - The current total market capitalization of Jiahua Co., Ltd. is 2.272 billion yuan, ranking 21st out of 22 in the agricultural product processing sector and 4851st out of 5149 in the A-share market [1] Group 2 - Jiahua Co., Ltd. plans to use up to 50 million yuan of its own funds for hedging activities related to raw material soybeans [1] - The company will employ various financial instruments, including but not limited to futures, options, forwards, swaps, and combinations thereof, for this hedging strategy [1] - The board of directors has approved this plan, which does not require shareholder meeting approval, and the trading period is set for 12 months from the date of board approval [1]