行业报告 | 行业研究周报 农林牧渔 证券研究报告 2025 年第 19 周周报：它博会归来，如何看宠物经济发展新趋势？ 1、宠物板块：高景气延续，国产替代与消费升级共筑量价双升 1）它博会看点：①今年关注度再上一层。第五届 TOPS 它博会于本周在上海国家会展中心开幕，展会以超 10 万平展览面积、1200 余家展商、8000+ 品牌缔造行业盛况，折射宠物赛道强劲增长动能。展会首日观众数同比激增 43%，创历史新高，核心数据验证行业扩容。②产品和工艺趋势变化：宠 物主粮精细化趋势显著，分龄分阶喂养成为核心升级方向：幼年期主打高蛋白、原生营养（麦富迪奶弗羊奶肉主粮系列），老年期聚焦肠胃调理、关节 养护（麦富迪老年犬粮）；工艺革新驱动高端化：低温烘焙成军备竞赛焦点（领先烘焙鲜肉猫粮、弗列加特鲜肉烘焙粮），鲜粮/湿粮赛道崛起（ZEAL 新西兰进口主食罐），国产技术迭代创新，行业从"粗放供给"迈向"精准营养+体验升级"新周期；③部分参展公司亮点：外资品牌如皇家、渴望、 爱肯拿，国产头部品牌如麦富迪、鲜朗、蓝氏，以及国产宠物用品公司天元宠物等齐聚展会，其中国产品牌表现较为亮眼——麦富迪它博会以"超级 工厂+天性数据研 ...

益生股份公告，公司2025年4月白羽肉鸡苗销售数量4893.2万只，销售收入1.41亿元，同比变动分别为 10.89%、-7.28%，环比变动分别为3.03%、2.16%。 回购增持 贵州轮胎：控股股东拟0.5亿元~1亿元增持公司股份 贵州轮胎公告称，公司控股股东贵阳工投计划增持公司股份，计划增持金额不低于0.5亿元（含），不 超过1亿元（含）。 每经记者｜王琳 每经编辑｜杨夏 并购重组 *ST金科：公司及全资子公司重整计划获法院裁定批准 *ST金科公告，5月10日及11日，公司及全资子公司重庆金科分别收到重庆市第五中级人民法院送达的 《民事裁定书》。重庆五中院裁定批准《金科地产集团股份有限公司重整计划》《重庆金科房地产开发 有限公司重整计划》，并终止公司及重庆金科重整程序。 业绩披露 益生股份：4月公司白羽肉鸡苗销售收入同比下降7.28% 汇宇制药：上海爽飒拟减持不超2.997%公司股份 汇宇制药公告，持股2.997%的公司股东上海爽飒企业管理咨询事务所（有限合伙）拟减持公司股份不 超过1269.56万股，即不超过公司总股本的2.997%。 派林生物：收到山西证监局出具的《行政监管措施决定书》 派林生物公告 ...

Group 1 - Wanxiang Qianchao plans to acquire 100% equity of Wanxiang America Corp through a combination of share issuance and cash payment, with the transaction constituting a major asset restructuring [3] - Chengfei Integration's stock price has shown abnormal fluctuations, but the company confirms that there have been no significant changes in its operational situation or external environment [4] - Qujiang Cultural Tourism's controlling shareholder is facing a court-ordered auction of 12 million shares, which represents 4.7% of the company's total equity, but this will not affect the company's operations or control [5] Group 2 - *ST Youshu will have its delisting risk warning lifted, and its stock name will change from "*ST Youshu" to "Youkeshu" starting May 13, 2025 [6] - Yisheng shares reported a sales revenue of 141 million yuan for April 2025, a year-on-year decrease of 7.28%, attributed to lower prices of small white feather broilers [8] - Guizhou Tire's controlling shareholder plans to increase its stake in the company by investing between 50 million to 100 million yuan over the next six months [10][11] Group 3 - Kelik plans to reduce its shareholding by up to 3%, equating to a maximum of 1,464,700 shares, through centralized bidding or block trading [12] - Huili Pharmaceutical's shareholder plans to reduce its stake by up to 2.997%, amounting to a maximum of 12,695,629 shares, within three months after the announcement [13]

"供需失衡与疫病是导致白羽肉鸡价格震荡的主要因素。"王欣宇建议，企业可通过优化鸡源结构，增加 合同鸡、自养鸡比例，制定长期精准生产计划来调控。同时加快疫病防控药物研发，降低外部风险干 扰。 卓创资讯白羽肉鸡分析师孙亚男对《证券日报》记者表示，今年前4个月，白羽肉鸡价格为3.48元/斤， 同比下降9.14%。市场饱和、渠道备货意愿不足等因素叠加，导致屠宰企业冻品库存及下游食品加工企 业库存处于高位水平。今年，养殖上游的鸡苗质量参差不齐、特殊天气下昼夜温差大、疫病情况较为严 重，养殖难度明显高于去年同期，对于市场散户的养殖群体冲击较大。从今年产业发展的状况来看，行 业有多处短板亟须补齐。 面对行业痛点，孙亚男建议，从养殖环节来看，企业要强化精细化管理，养殖水平的提高能有效确保养 殖利润的提升。此外，也要关注鸡苗、环境控制等因素对成本的影响。从屠宰环节来看，应加强产业链 合作与整合，纵向一体化发展。通过向前延伸产业链，涉足肉鸡养殖环节，建立自有养殖场或与养殖户 签订长期合作协议，稳定肉鸡供应渠道和质量，降低采购成本和供应风险。向后拓展产业链，发展鸡肉 深加工和销售业务，提高产品附加值和市场竞争力。 历经多年发展，我 ...

证券之星消息，2025年5月9日春雪食品（605567）发布公告称公司于2025年5月9日召开业绩说明会。 具体内容如下： 问：2024年公司成功实现扭亏为盈，净利润同比增长显著，请主要得益于哪些因素？ 答：2024年公司实现扭亏为盈，主要得益于以下几个方面 1、成本管控优化通过强化内部管理及降本增效措施，毛鸡养殖成本同比下降，饲料原料采购实现增值 超500万元。玉米、豆粕采购价格分别下降16%和27%，显著降低养殖成本； 问：公司在2024年已经投产了"年产4万吨鸡肉调理品智慧工厂"，请未来在产能扩张方面还有哪些计 划？ 答：公司将继续推进产能扩张计划，以满足市场需求。2025年，我们计划新增委托养殖基地批次存栏规 模240万只，总体批次存栏规模达到1600万只；新增调理品产能1.8万吨，整体调理品产能达到13.6万 吨。此外，我们还将根据市场需求和公司发展战略，适时推进其他产能建设项目，进一步提升公司的市 场竞争力。 问：去年行业全年的鸡肉出口创了新高，公司是怎么看海外市场的机会的 答：去年中国鸡肉行业全年出口量创历史新高，行业普遍看好海外市场机遇，欧洲、东南亚等新兴市场 增速显著。公司针对性制订了海外市 ...

Core Viewpoint - The actor Zhao Liang's brand "San De Zi" is under scrutiny for misleading consumers regarding its product "De Zi Tu Ji" (土鸡), as the trademark registered is "De Zi Tu" (德子土), which may confuse customers about the product's authenticity [1][2][3]. Trademark and Consumer Misleading - The company Chengdu San De Zi Hao Zhen Xuan Agricultural Technology Co., Ltd. has registered multiple trademarks including "San De Zi" and "De Zi Tu," with the latter successfully registered on January 21, 2024, covering categories such as meat and poultry [2][3]. - Consumers have raised concerns that the branding and product descriptions on e-commerce platforms have omitted the term "Tu Ji" (土鸡), instead using terms like "Shaonian Gong Ji" (少年公鸡) and "Zhuang Nian Mu Ji" (壮年母鸡) [2][3]. Company Response and Practices - The company claims that "De Zi Tu" was a defensive registration and that the main trademark has always been "San De Zi." They have begun changing packaging to remove the "De Zi Tu" branding since early April 2024 [3][4]. - The company asserts that their chickens are raised in a free-range environment and are fed grains, although there is no standardized definition for "Tu Ji" [3][4]. Previous Violations - The company has a history of violations, including a fine for false advertising related to food labeling, where they used misleading terms like "Mountain Free-Range Gu Shi Ji" (山地散养固始鸡) [4]. - This incident is not the first controversy for Zhao Liang, who faced backlash for his association with a store name similar to a well-known retail brand, leading to an apology and clarification of his non-commercial involvement [5]. Market Presence - The "San De Zi" official flagship store has gained significant traction, boasting over 1.1 million followers and sales of 605,000 units [5].

Group 1 - Longpan Technology's subsidiaries signed a sales contract for over 5 billion yuan of lithium iron phosphate cathode materials, expecting to sell a total of 150,000 tons from 2025 to 2029 [1] Group 2 - Hengda plans to acquire high-precision CNC grinding business assets from German company SMS for 8.5 million euros, aiming to enhance R&D capabilities and product offerings in intelligent CNC equipment [2] Group 3 - China First Heavy Industries' chairman is under investigation for serious violations of discipline and law, prompting the company to appoint an acting chairman [3] Group 4 - In April, various companies reported their sales performance, with notable figures including: - China Merchants Shekou's sales amounting to 14.764 billion yuan - Shoukai's sales down by 23.77% to 1.46 billion yuan - Tiankang Biological's pig sales revenue at 380 million yuan, up 1.06% month-on-month - Longyuan's pig sales revenue at 125 million yuan, up 14.59% month-on-month and 12.72% year-on-year - New Wufeng's pig sales reaching 408,100 heads, up 36.31% year-on-year - GAC Group's car sales at 116,400 units, down 12.66% year-on-year [6] Group 5 - Red Tower Securities proposed a share buyback of 100 million to 200 million yuan, while Mengbaihe plans to buy back shares worth 85 million to 170 million yuan [6]

Core Viewpoint - Xiaoming Co., Ltd. (300967) reported a decrease in chicken product sales and revenue for April 2025, influenced by limited profitability in downstream egg-laying chicken farming and weak holiday effects [1] Sales Performance - In April 2025, the company sold 24.8788 million chickens, with a sales revenue of 110 million yuan [1] - Month-on-month changes showed a decrease of 15.57% in sales volume and 15.62% in revenue [1] - Year-on-year changes indicated an increase of 28.93% in sales volume and 73.86% in revenue [1] Market Influences - The decline in sales volume is attributed to limited profitability in the downstream egg-laying chicken farming sector [1] - The weak holiday effect also contributed to the reduced order quantity for chicken products compared to the previous month [1]

5月9日晚间，沪深两市多家上市公司发布公告，以下是第一财经对一些重要公告的汇总，供投资者参 考。 【品大事】 卧龙地产：证券简称变更为"卧龙新能" 卧龙地产(600173)公告，公司证券简称将自2025年5月15日起由"卧龙地产"变更为"卧龙新能"，公司证券 代码保持不变。 宁波富达：终止筹划重大资产重组事项 宁波富达(600724)公告，公司原计划以现金方式通过股权受让或增资方式取得宁波晶鑫电子材料有限公 司不少于45%股权，并保证上市公司拥有目标公司的表决权股权比例不低于51%。由于交易双方未能就 交易最终方案达成一致，经友好协商，各方同意终止进一步推进本次交易。终止本次重大资产重组事项 无需提交董事会、股东会审议。交易尚处于筹划阶段，未对上市公司现有生产经营活动、财务状况和战 略发展造成重大不利影响。公司承诺自公告披露之日起至少一个月内不再筹划重大资产重组。 蓝黛科技：拟3411万元收购重庆台冠18%股权 蓝黛科技(002765)公告，拟收购殷文俊、刘健、孙刚、崔颖合计持有的公司控股子公司重庆台冠18%股 权，转让价款为3411万元。本次股权收购完成后，公司将持有重庆台冠100%股权，重庆台冠成为公司 ...

禾丰食品股份有限公司 会议材料 二〇二五年五月 中国·沈阳 禾丰食品股份有限公司 2024 年年度股东大会会议材料 目 录 议案六：关于 2024 年度日常关联交易执行情况及 2025 年度日常关联交易预计的议案16 禾丰食品股份有限公司 2024 年年度股东大会会议材料 禾丰食品股份有限公司 会议方式：现场投票和网络投票相结合 现场会议时间：2025 年 5 月 16 日 10:00 网络投票时间：2025 年 5 月 16 日（星期五） 交易系统投票平台投票时间段：9:15-9:25，9:30-11:30，13:00-15:00 互联网投票平台投票时间段：9:15-15:00 会议地点：辽宁省沈阳市沈北新区辉山大街 169 号禾丰股份综合办公大楼 7 楼会议室 会议召集人：公司董事会 议程： 一、主持人宣布大会开始，宣布股东到会情况。 二、推选监票人、计票人。 三、审议会议议案。 序号 议案名称 《关于 2024 年度日常关联交易执行情况及 2025 年度日常关联交易预计 的议案》 四、现场参会股东对议案进行讨论并以书面形式投票表决。 禾丰食品股份有限公司董事会 禾丰食品股份有限公司 2024 年年度股东 ...