（文章来源：证券日报） 证券日报网讯 1月23日，农发种业发布公告称，预计 2025 年度实现归属于母公司所有者的净利润7， 500 万元到 8，400 万元，与上年同期相比，将上升 59.96%到 79.15%。 ...

农业农村部1月23日在京召开种业振兴行动部门工作协调机制会议。会议强调，"十五五"时期是种业振 兴"十年实现重大突破"目标任务的攻坚阶段，协调机制各成员单位要进一步强化协同联动，完善政策措 施，推动种业振兴整体提升，取得更多突破性新成效，加快实现种业科技自立自强、种源自主可控。 ...

Market Overview - The corn concept sector declined by 0.14%, ranking among the top losers in the market, with *ST Wanfang hitting the limit down, while COFCO Technology, Xiamen Xiangyu, and Beidahuang also saw significant declines [1] - In contrast, 15 stocks within the sector experienced price increases, with Fucheng Co., Chuaning Bio, and Yasheng Group leading the gains at 2.40%, 1.97%, and 1.67% respectively [1] Sector Performance - The top-performing concept sectors included BC batteries (+8.56%), perovskite batteries (+8.24%), and TOPCON batteries (+7.39%), while the soybean sector fell by 0.10% [1] - The corn sector saw a net outflow of 0.96 billion yuan, with 16 stocks experiencing net outflows, and 7 stocks seeing outflows exceeding 10 million yuan [1] Fund Flow Analysis - Beidahuang led the net outflow with 28.21 million yuan, followed by Shennong Seed Industry and Yuntu Holdings with outflows of 23.43 million yuan and 22.67 million yuan respectively [1] - Conversely, the stocks with the highest net inflows included Xinghuo Technology, Fucheng Co., and Jinjian Rice Industry, with inflows of 18.68 million yuan, 12.25 million yuan, and 12.10 million yuan respectively [1][2] Individual Stock Performance - Beidahuang's stock price decreased by 1.52% with a turnover rate of 1.64% and a net outflow of 28.21 million yuan [1] - COFCO Technology and *ST Wanfang also saw declines of 2.59% and 5.09% respectively, with net outflows of 5.94 million yuan and 5.90 million yuan [2] - On the other hand, stocks like Fucheng Co. and Xinghuo Technology showed positive performance with gains of 2.40% and 1.36% respectively, alongside significant net inflows [2]

Investment Rating - The report maintains an investment rating of "Outperform" for the agriculture, forestry, animal husbandry, and fishery industry [1]. Core Insights - The report highlights a weak fluctuation in pig prices, with the average price in December 2025 at 11.58 yuan/kg, down 0.09% month-on-month and down 26.76% year-on-year. However, a supply gap for heavy pigs is expected to lead to a price rebound [9][19]. - The white feather chicken prices showed an upward trend in December, with an average price of 3.67 yuan/jin, up 5.16% month-on-month, supported by tight supply and demand [9][25]. - Pet food exports maintained a year-on-year growth, with December 2025 exports at 37,700 tons, up 15.49% year-on-year, although the export value in USD decreased by 1.68% [9][32]. Summary by Sections Market Review - In December 2025, the agriculture, forestry, animal husbandry, and fishery index rose by 0.24%, ranking 22nd among 30 sectors, while the Shanghai and Shenzhen 300 index increased by 2.28%, indicating a 2.04 percentage point underperformance [9][12]. Livestock Industry Data Tracking - **Pig Farming**: The average price of pigs in December was 11.58 yuan/kg, with a month-on-month decrease of 0.09% and a year-on-year decrease of 26.76%. The supply-demand dynamics are expected to stabilize, with a potential increase in prices due to supply gaps [19][24]. - **White Feather Chicken**: The average price for white feather chicken in December was 3.67 yuan/jin, reflecting a month-on-month increase of 5.16% due to tight supply and demand support [25][29]. Pet Food - Pet food exports in December reached 37,700 tons, a year-on-year increase of 15.49%, while the total export value for the year was 1.412 billion USD, down 4.62% year-on-year [32][34]. Investment Recommendations - The report suggests focusing on companies such as Muyuan Foods, Pulaike, and Guobao Pet, all rated as "Buy" based on their earnings forecasts and relative valuation [1][9].

Group 1 - The company, Nongfa Seed Industry (600313), forecasts a net profit attributable to shareholders of 75 million to 84 million yuan for 2025, representing a year-on-year increase of 59.96% to 79.15% [2] - The company expects a non-recurring net profit of 19.19 million to 28.19 million yuan, recovering from a loss of 27.516 million yuan in the same period last year [2] - As of January 23, the company's price-to-earnings ratio (TTM) is approximately 87.35 to 97.83 times, with a price-to-book ratio (LF) of about 3.72 times and a price-to-sales ratio (TTM) of about 1.18 times [2] Group 2 - The company's main business includes the research, production, and sales of crop seeds, production and sales of pesticide products, fertilizer trading, and specialty grain order business [6] - The increase in performance is attributed to several factors: expansion of sales channels in the seed business, significant growth in revenue and profit in the fertilizer business due to active sourcing of imports, and improved market share in the pesticide business through enhanced production processes and cost reduction measures [6]

Core Viewpoint - Agricultural Development Industry (农发种业) announced a profit forecast for 2025, expecting a net profit between 75 million to 84 million yuan, representing a year-on-year growth of 59.96% to 79.15% [2] Group 1 - The company's stock price increased by 0.44% as of the announcement, with a turnover rate of 2.84% and a transaction volume of 208 million yuan [2] - A statistical analysis of stocks with a profit forecast increase of over 50% shows that 64.34% of these stocks experienced a price increase on the day of the announcement, with 9 companies hitting the daily price limit [2] - Over a five-day period following the announcement, 79.02% of the stocks saw an increase in price [2]

Core Viewpoint - Agricultural Development Industry (农发种业) expects a significant increase in net profit for the fiscal year 2025, projecting a profit of between 75 million to 84 million yuan, representing a year-on-year increase of approximately 59.96% to 79.15% [1] Group 1: Financial Performance - The company anticipates a net profit attributable to shareholders of 75 million to 84 million yuan for 2025, an increase of 28.11 million to 37.11 million yuan compared to the previous year [1] - The projected profit growth is primarily driven by improvements in the seed, fertilizer, and pesticide businesses [1] Group 2: Business Segments - In the seed business, the company has expanded sales channels, resulting in increased gross margins for corn and soybean seed sales, while specialized variety orders have continued to grow despite a sluggish market [1] - In the fertilizer business, the company has actively sought to import sources and expand sales, leading to significant year-on-year growth in both revenue and profit [1] - In the pesticide business, the company has enhanced production capacity through process improvements and increased market penetration, resulting in substantial revenue growth and a significant reduction in losses [1]

Core Viewpoint - The company, Nongfa Seed Industry (600313.SH), expects to achieve a net profit attributable to shareholders of the parent company between 75 million and 84 million yuan for the fiscal year 2025, representing a year-on-year increase of 28.11 million to 37.11 million yuan, or a growth of 59.96% to 79.15% compared to the previous year [1] Group 1: Financial Performance - The expected net profit attributable to shareholders for 2025 is projected to be between 75 million and 84 million yuan, an increase of 28.11 million to 37.11 million yuan year-on-year [1] - The expected net profit after deducting non-recurring gains and losses is estimated to be between 19.19 million and 28.19 million yuan, reflecting an increase of 46.71 million to 55.71 million yuan compared to the previous year [1] Group 2: Business Segments - In the seed business, the company has expanded sales channels, resulting in improved gross margins for corn and soybean seed sales, with specialized variety orders maintaining growth despite a sluggish market [1] - In the fertilizer business, the company actively explored import sources and expanded sales, leading to significant year-on-year growth in both revenue and profit [1] - In the pesticide business, the company enhanced production capacity through process improvements and increased market penetration, resulting in substantial revenue growth and a significant reduction in losses [1]

Core Viewpoint - The company expects a significant increase in net profit for 2025, projecting a rise of 59.96% to 79.15% compared to the previous year, driven by improvements in its seed, fertilizer, and pesticide businesses [1] Group 1: Financial Projections - The company forecasts a net profit attributable to shareholders of 75 million to 84 million yuan for 2025 [1] - The projected net profit excluding non-recurring gains and losses is estimated to be between 19.19 million and 28.19 million yuan [1] Group 2: Business Performance Drivers - In the seed business, the company has expanded sales channels, resulting in increased gross margins for corn and soybean seed sales, while specialized variety orders have continued to grow despite a sluggish market [1] - In the fertilizer business, the company has actively sought to import sources and expand sales, leading to substantial growth in both revenue and profit [1] - In the pesticide business, the company improved production capacity through process enhancements and increased market penetration, which significantly boosted revenue and reduced losses [1]

融券方面，神农种业1月22日融券偿还0.00股，融券卖出0.00股，按当日收盘价计算，卖出金额0.00元； 融券余量0.00股，融券余额0.00元，超过近一年90%分位水平，处于高位。 资料显示，海南神农种业科技股份有限公司位于海南省海口市秀英区美林路8号慧远美林谷综合服务 楼，成立日期2000年12月29日，上市日期2011年3月16日，公司主营业务涉及公司以杂交水稻种子的选 育、制种、销售和技术服务为主,从事水稻、玉米、油料、蔬菜等农作物品种创新、生产、销售和技术 服务以及农药、化肥的销售。主营业务收入构成为：杂交水稻种子40.24%，其他种子28.71%，农化产 品及其它19.32%，玉米种子4.52%，水产品3.34%，其他(补充)3.28%，油菜种子0.58%。 截至9月30日，神农种业股东户数7.55万，较上期减少8.84%；人均流通股11733股，较上期增加9.69%。 2025年1月-9月，神农种业实现营业收入1.59亿元，同比增长29.36%；归母净利润565.51万元，同比增长 125.99%。 1月22日，神农种业涨3.20%，成交额7.85亿元。两融数据显示，当日神农种业获融资买入额7 ...