天眼查显示，近日，滨州舜昌畜牧有限公司成立，法定代表人为尹凯，注册资本1000万人民币，由山东 麦便利商业有限公司全资持股。 序号股东名称持股比例1山东麦便利商业有限公司100% 经营范围含许可项目：牲畜饲养；动物饲养；种畜禽生产；种畜禽经营；生猪屠宰；主要农作物种子生 产；农作物种子经营；食品销售；食品生产；食品互联网销售。（依法须经批准的项目，经相关部门批 准后方可开展经营活动，具体经营项目以相关部门批准文件或许可证件为准）鲜肉零售；鲜肉批发；畜 禽粪污处理利用；生物饲料研发；蔬菜种植；谷物种植；谷物销售；初级农产品收购；食用农产品初加 工；食用农产品批发；食用农产品零售；饲料原料销售；生物有机肥料研发。（除依法须经批准的项目 外，凭营业执照依法自主开展经营活动） 企业名称滨州舜昌畜牧有限公司法定代表人尹凯注册资本1000万人民币国标行业农、林、牧、渔业> 农、林、牧、渔专业及辅助性活动>农业专业及辅助性活动地址山东省滨州市滨城区秦皇台乡永莘路以 北、罗郭路以东养殖场内101室企业类型有限责任公司（非自然人投资或控股的法人独资）营业期限 2026-2-14至无固定期限登记机关滨州市滨城区市场监督管理局 来 ...

灵蛇辞旧岁，骏马启新程。 "丙午马年，希望全国各族人民更加紧密地团结在党中央周围，坚定必胜信心，保持昂扬斗志，在 中国式现代化新征程上策马扬鞭、勇往直前，共同开创更加美好的未来。" 春和景明启新岁 神州大地年味浓郁、春意盎然。从人民大会堂到基层一线，习近平总书记的讲话温暖着亿万群众 的心田。 全年经济社会发展主要目标任务顺利完成，"十四五"圆满收官……"习近平总书记在讲话中全面回 顾一年来国家发展取得的辉煌成就，令人深受鼓舞、深感自豪。"现场聆听习近平总书记讲话，北 京星河动力航天科技股份有限公司总裁刘建设说，"展望未来，我们将始终保持战略定力，勇担使 命、勇攀高峰，持续推动我国航天事业不断取得新突破，助力党和国家事业不断积小胜为大胜。" "总书记的讲话饱含深情，让我们真切体会到党和国家始终牵挂基层劳动者、关心关怀新就业群 体。"参加团拜会的网约车司机宫海际激动不已，"过去一年，着力保障和改善民生取得显著成 效，成果可感可及，广大普通劳动者的获得感、幸福感、安全感更加充实。" 千里之外的吉林查干湖畔，天未破晓，餐饮经营者们便忙着打包鲜鱼、对接物流，将"湖鲜年 味"送往全国各地；中午，湖畔民宿座无虚席，游客围炉 ...

Employment Initiatives - The Tachen region prioritizes employment as a key aspect of public welfare, establishing a leadership group to coordinate efforts across 34 member units to enhance employment services and support job creation [3][4] - Since the beginning of the 14th Five-Year Plan, Tachen has achieved a cumulative urban employment increase of 91,000, maintaining a dynamic zero-employment family status [3][4] - The region has developed a four-tier public employment service system to provide equal, inclusive, and convenient employment services for job seekers [3][4] Skill Training and Education - Tachen has implemented vocational training programs, such as a caregiver training course, to equip residents with practical skills for better employment opportunities [2][5] - The Tachen vocational technical college has expanded its student enrollment from under 300 to 4,668 and increased its program offerings from 4 to 21, aligning education with industry needs [7] - The region promotes "industry-education integration" to enhance vocational education quality and adapt to market demands [7] Economic Development - Tachen's GDP is projected to exceed 105 billion yuan by 2025, with a year-on-year growth of 5.3%, providing a solid foundation for employment stability [6] - The region is developing a "5+2" industrial system focusing on resource optimization, renewable energy, and agricultural technology to support economic growth and job creation [6][7] Entrepreneurship Support - Tachen has fostered an entrepreneurial environment, resulting in 18,500 new businesses and creating 33,800 jobs since the start of the 14th Five-Year Plan [9] - The region supports startups through subsidies, loans, and training programs, encouraging participation in entrepreneurial competitions to stimulate job creation [9][10] - The establishment of local brands, such as "Ushu Housekeeping Sisters," has successfully created job opportunities and extended employment beyond local areas [10][11]

作者 | 乔钰杰 编辑 | 袁斯来 硬氪获悉，女娲农业科技（深圳）有限公司（以下简称"女娲农业科技"）近日完成数千万元融资，投资 方为厦门国升基金。本轮融资将主要用于核心技术研发、产品工程化升级及规模化落地。 畜牧场景对机器人提出多重复杂要求：设备需长期耐受高湿、高腐蚀条件；地面常覆盖粪污与饲料残渣 混合物；场地内存在积水、斜坡、隔栅、缝隙等多种复杂结构；加之动物活动带来的空间动态变化，进 一步增加作业难度。此外，养殖清洁的目标不仅是表面洁净，更强调降低微生物与病原负荷。因此，在 清洁路径规划、消杀覆盖率以及作业可追溯性等方面，对机器人系统提出了更高标准。 围绕以上难点，女娲农业科技将AI能力深度嵌入产品体系。公司创始人罗浩在接受硬氪采访时介绍 称，AI能力在产品中主要承担两项功能：一是基于多模态感知，识别动物异常行为与健康状态，形成 风险预警与分级工单；二是对清洁与消杀任务进行智能调度与优化，使机器人在不同场景下持续迭代作 业模型。数据来源包括机器人传感系统与养殖端业务数据，并与养殖场SOP结合，在实际运行中不断优 化模型参数。 硬件层面，产品采用高转速无刷电机与定制结构设计，以适配高负载清洁与消杀工况。目 ...

1. Report Industry Investment Rating - Not provided in the report 2. Core Viewpoints of the Report - The agricultural sector showed a volatile trend before the Spring Festival, with different trends and influencing factors for each sub - industry [1] - Different agricultural products have different outlooks, such as some are expected to oscillate, some are expected to be weak, and some are expected to strengthen [1][2][5][6] 3. Summary by Relevant Catalogs 3.1. Market Views - **Oils and Fats**: Futures prices declined due to light pre - holiday spot trading and capital flight. Supply of soybeans and rapeseeds is ample. Palm oil is about to enter the destocking stage. Demand depends on biodiesel policies and export performance. It is recommended to consider buying hedging at low callback levels [1][5][6] - **Protein Meal**: International soybean prices are affected by export expectations and South American weather, and are operating in the range of 1130 - 1160. Domestic soybean meal shows a pattern of near - term strength and long - term weakness. After the festival, prices are expected to be weak. It is not recommended to chase up prices before the festival [7] - **Corn**: Affected by industry news and sentiment, futures are strongly volatile. After the festival, focus on traders' delivery and inventory replenishment rhythms [9] - **Pigs**: Supply is abundant, and prices are expected to be weak before and after the Spring Festival. The industry is recommended to consider short - selling hedging opportunities in the first half of the year, and prices may pick up in the second half of the year [10] - **Natural Rubber**: The price fluctuates slowly before the festival, maintaining an upward trend. The current trading logic is mainly macro - influenced, and the fundamentals are relatively weak but the expectations are good. The market is expected to remain volatile [13] - **Synthetic Rubber**: The BR market maintains a high - level range - bound pattern. The mid - term core logic is the expectation of tight supply of butadiene in the first half of 2026. It is expected to be volatile and strong in the medium term [15] - **Cotton**: The fundamentals have not changed much. The price has rebounded slightly. After the festival, with the arrival of the peak demand season, the price may strengthen. In the long - term, it is expected to be volatile and strong [16] - **Sugar**: In the medium - to - long term, the price is expected to be volatile and weak due to the expected global supply surplus in the new sugar - making season [17] - **Pulp**: The spot price is almost stagnant, and the futures fluctuate independently. The supply - demand is weak before the festival and is expected to improve after the festival. The futures are expected to be volatile [18] - **Double - Glue Paper**: The market is winding down at the end of the year, and the price rebounds with reduced positions. Before the festival, the trading is weak, and it is expected to be stable in the short - term and volatile and weak in the range [19] - **Logs**: The pre - holiday trading is basically stagnant. The price is expected to remain range - bound in the short - term, and there is a risk of weakening in the medium - term without new positive factors [21] 3.2. Variety Data Monitoring - **Oils and Fats**: Not provided with specific data analysis content - **Protein Meal**: Not provided with specific data analysis content - **Corn and Starch**: Not provided with specific data analysis content - **Pigs**: Not provided with specific data analysis content - **Cotton and Cotton Yarn**: Not provided with specific data analysis content - **Sugar**: Not provided with specific data analysis content - **Pulp and Double - Glue Paper**: Not provided with specific data analysis content - **Logs**: Not provided with specific data analysis content 3.3. Commodity Index - The comprehensive index, special index, and sector index of CITIC Futures commodities all showed an upward trend on February 12, 2026. For example, the comprehensive index increased by 0.49%, the commodity 20 index increased by 0.53%, the industrial products index increased by 0.42%, and the PPI commodity index increased by 0.29%. The agricultural product index increased by 0.44% on that day, with a 0.56% increase in the past 5 days, a - 0.71% change in the past month, and a 0.20% increase since the beginning of the year [182][183]

Core Insights - The report indicates a cautiously optimistic outlook for February, with the index expected to remain stable and oscillate around the high and low points of January, suggesting a controlled approach to position management during the holiday season [3][8] - The mid-cap blue-chip style is expected to continue, with a focus on adjusting positions rather than passive defense, particularly in the livestock and chemical sectors [3][8] Market Strategy - The index is showing a slightly strong oscillation, with market sentiment indicating a lower risk appetite compared to the previous week, leading to rapid sector rotations [3][8] - Recommendations include controlling positions to avoid uncertainties during the holiday while being prepared for potential liquidity recovery post-holiday [3][8] Industry Strategy - In the agriculture sector, pig inventory is at a low point, with price bottoms being tested ahead of the holiday, indicating a potential recovery in market sentiment regarding pig prices [5][8] - The report highlights that the average weight of pigs post-slaughter has dropped to approximately 88.3 kg, suggesting limited downside for pig prices, with expectations for a price turning point in Q2 2026 [5][8] Thematic Strategy - The military industry is highlighted for its potential due to the resonance of domestic and international demand, with significant growth opportunities anticipated in unmanned and deep-sea technologies, as well as in military trade markets [6][8] - The report emphasizes the importance of the "14th Five-Year Plan" for the military sector, which is expected to clarify new equipment construction plans and enhance investment opportunities [6][8]

Core Viewpoint - The announcement details the external guarantee situation of Yunnan Shennong Agricultural Industry Group Co., Ltd. as of January 2026, highlighting the total guarantee amounts provided for subsidiaries and the rationale behind these guarantees [1][19]. Summary by Sections Guarantee Objects and Basic Information - The company provided guarantees for four subsidiaries' financing with a new guarantee amount of 90.1585 million yuan, totaling 442.8202 million yuan as of January 31, 2026 [1]. - The company also provided guarantees for seven subsidiaries' raw material procurement with a new guarantee amount of 136 million yuan, totaling 371.5000 million yuan as of January 31, 2026 [1]. Cumulative Guarantee Situation - From January 1 to January 20, 2026, the company signed guarantee contracts with Fudian Bank for a total of 15.471 million yuan for its subsidiary [2]. - The company signed guarantee letters with Yihai Kerry (Shanghai) International Trade Co., Ltd. for a total of 36 million yuan for multiple subsidiaries [2]. - Additional guarantees were provided to various companies, including a total of 20 million yuan to Shanghai Dingniu Feed Co., Ltd. and others [3][4]. Guarantee Progress in January 2026 - No new guarantees were provided for customers or cooperative farmers in January 2026, with a total approved guarantee limit of 50 million yuan, and a balance of 307,200 yuan as of January 31, 2026 [14][15]. - The company provided a new guarantee of 136 million yuan for subsidiaries' raw material procurement, with a total balance of 371.5000 million yuan as of January 31, 2026 [14]. - The company has a total external guarantee balance of 1.0446107 billion yuan, accounting for 21.62% of the latest audited net assets [18]. Necessity and Reasonableness of Guarantees - The guarantees provided are necessary for the daily operations of subsidiaries and align with the company's overall interests and development strategy [16]. - The company has established strict screening standards and risk prevention measures for the guaranteed entities, ensuring that the risks are controllable [16]. Board of Directors' Opinion - The board believes that the guarantees are based on the actual needs of the subsidiaries, which have strong repayment capabilities, thus minimizing repayment risks [17]. - The guarantees are expected to enhance the efficiency of fund utilization among subsidiaries and support stable business development [17].

Core Insights - The report indicates a cautiously optimistic outlook for February, with the index expected to stabilize and oscillate around the highs and lows of January, suggesting a controlled approach to position management during the holiday season [3][8] - The mid-cap blue-chip style is expected to continue, with a focus on adjusting positions rather than passive defense, particularly in the agricultural and chemical sectors [3][8] Industry Strategy - In the agricultural sector, the report highlights that pig inventory is at a low point, with price bottoms being tested ahead of the holiday season. The market's pessimistic expectations regarding pig prices are seen as overestimated, with a potential recovery in prices anticipated as inventory levels stabilize [5][8] - The report notes that the average weight of pigs post-slaughter has dropped to approximately 88.3 kg, indicating limited downward price movement potential. The report predicts a price turning point in Q2 2026, with the average price for the year expected to exceed market expectations [5][8] - The report emphasizes the military industry, highlighting the resonance of domestic and international demand, with significant investment opportunities anticipated as the "14th Five-Year Plan" unfolds, particularly in unmanned and deep-sea technologies [6][8] Related Investment Opportunities - Recommended stocks in the agricultural sector include Muyuan Foods (002714), Wens Foodstuff Group (300498), and Haida Group (002311), with a buy rating suggested [5][8] - In the military sector, recommended stocks include Huaxin Technology (688281) and Guobo Electronics (688375), with a buy rating suggested [6][8]

1. Report Industry Investment Rating No relevant information provided. 2. Core Views of the Report - The agricultural market shows a mixed trend, with different commodities having various outlooks such as oscillation, oscillation - weakening, and oscillation - strengthening [1][6][7]. - For different commodities: - Oils: Narrow - range oscillation, with multiple factors affecting supply and demand, and a suggestion to consider buying hedging strategies at low - callback levels [6]. - Protein meals: Domestic double meals oscillate mainly, with international factors supporting US soybeans and domestic factors affecting the market [1][7]. - Corn: Oscillates, with industry news and emotions affecting futures, and attention to post - holiday trading and inventory replenishment rhythms [8]. - Pigs: Oscillates weakly, with supply - demand being loose, and different trends in the short, medium, and long - term [9]. - Natural rubber: Oscillates, with attention to previous high resistance, and the market influenced by capital and fundamentals [11][12]. - Synthetic rubber: Oscillates upward following natural rubber, with the mid - term bullish logic remaining unchanged [13]. - Cotton: Oscillates strongly in the medium - long term, waiting for new driving forces in the short term [14]. - Sugar: Oscillates weakly in the medium - long term, with a downward driving force due to expected oversupply [16]. - Pulp: Oscillates, with weak supply - demand before the Spring Festival and expected improvement after the festival [17]. - Double - gum paper: Oscillates weakly, with the market in a low - level oscillation during the holiday [18]. - Logs: Oscillates, with the spot being stable and the market in a range - bound operation [20]. 3. Summary by Relevant Catalogs 3.1. Market Quotes and Views 3.1.1. Oils - **View**: Oils show narrow - range oscillation. The US Department of Agriculture's February report adjusted relevant data, and the market is affected by factors such as demand expectations, biodiesel policies, and export performance. It is recommended to pay attention to buying hedging strategies at low - callback levels [6]. - **Logic**: Futures are affected by capital emotions, and the industrial end has different supply - demand situations for different oils. For example, soybeans have relatively sufficient supply, and palm oil has inventory and export issues [6]. - **Outlook**: Soybean oil, palm oil, and rapeseed oil all oscillate [6]. 3.1.2. Protein Meals - **View**: Optimistic emotions support US soybeans, and domestic double meals oscillate mainly [1][7]. - **Logic**: Internationally, the USDA's February supply - demand report is bearish, but the market has optimistic export expectations and the US biodiesel plan boosts US soybean oil. Domestically, factors such as pre - holiday capital flight, logistics stagnation, and expected post - holiday cost reduction affect the market [1][7]. - **Outlook**: Both soybean meal and rapeseed meal oscillate [1][7]. 3.1.3. Corn - **View**: Industry news disturbs the market, and corn increases positions and rises [8]. - **Logic**: Futures are affected by industry news and emotions, while the spot market is gradually entering the holiday, with stable prices and low trading volume. Attention should be paid to factors such as grain sales progress, policy grain auctions, and wheat conditions [8]. - **Outlook**: Oscillation, with attention to post - holiday trading and inventory replenishment rhythms [8]. 3.1.4. Pigs - **View**: Supply - demand is loose, and spot prices continue to weaken [9]. - **Logic**: In terms of supply, there are different situations in the short, medium, and long - term; demand shows an increase in slaughter volume; inventory shows a continuous decrease in average pig weight. The price is expected to weaken in the short - term and is affected by different production capacities in different periods [9]. - **Outlook**: Oscillation - weakening, with a potential bottom - out and recovery in the second half of 2026 [9]. 3.1.5. Natural Rubber - **View**: Pay attention to previous high resistance [11][12]. - **Logic**: The rubber price runs strongly, mainly driven by capital emotions. The short - term support is effective, and the overall is in a bullish trend. The current trading logic is mainly affected by the macro - environment, with relatively weak fundamentals but good expectations [11][12]. - **Outlook**: Oscillation, with limited fundamental variables and increasing capital attention [12]. 3.1.6. Synthetic Rubber - **View**: Follow natural rubber to oscillate upward [13]. - **Logic**: The BR market follows natural rubber to rise slightly, and the mid - term core logic is the expectation of tight supply of butadiene in the first half of 2026. The raw material market is affected by factors such as export news and downstream demand [13]. - **Outlook**: Mid - term oscillation - strengthening, with a need for adjustment in the short - term due to rapid price increase [13]. 3.1.7. Cotton - **View**: Cotton price rebounds [14]. - **Logic**: Before the Spring Festival, the fundamentals have no obvious driving force, and the cotton price is expected to oscillate within a range. After the festival, with the arrival of the traditional peak season, the terminal demand may drive the price to rise. In the medium - long term, the supply - demand is expected to be in tight balance, and the planting area in Xinjiang may decrease [14]. - **Outlook**: Oscillation - strengthening, with a suggestion to buy on dips [14]. 3.1.8. Sugar - **View**: Sugar price oscillates weakly in the medium - long term [16]. - **Logic**: The global sugar market is expected to have oversupply in the 25/26 crushing season, with major producing countries expected to increase production. The supply increase puts pressure on the price [16]. - **Outlook**: Oscillation - weakening, with a suggestion to short on rebounds [16]. 3.1.9. Pulp - **View**: Spot prices are almost stagnant, and futures fluctuate independently [17]. - **Logic**: Before the Spring Festival, the supply - demand is weak, with low demand from the terminal and downstream. After the festival, the seasonal recovery of demand may bring marginal benefits. The valuation support has weakened, and the downward space is limited [17]. - **Outlook**: Oscillation, with weak supply - demand before the festival and expected improvement after the festival [17]. 3.1.10. Double - gum Paper - **View**: Factories enter the holiday, and the market maintains low - level oscillation [18]. - **Logic**: Before the Spring Festival, the trading in the double - gum paper market ends, with stable spot prices and low - level oscillation. The industry is affected by factors such as production line operation, downstream consumption, and market demand [18]. - **Outlook**: Oscillation - weakening, with the market expected to be stagnant during the holiday and attention to the post - holiday consumption recovery [18]. 3.1.11. Logs - **View**: Spot prices are stable, and the market operates within a range [20]. - **Logic**: Before the Spring Festival, the log market trading is basically stagnant, with stable spot prices and range - bound oscillation. The market is affected by factors such as news, valuation, supply, and delivery [20]. - **Outlook**: Oscillation, with the market having no new driving force in the short - term and maintaining range - bound operation [20]. 3.2. Commodity Index - On February 11, 2026, the comprehensive index, special index (including the commodity index, commodity 20 index, and industrial product index), and plate index (agricultural product index) of CITIC Futures all showed certain changes. For example, the comprehensive index increased by 0.32%, the commodity 20 index increased by 0.27%, the industrial product index increased by 0.41%, and the agricultural product index increased by 0.34% on that day [179][180].

Group 1 - The central government's first document of the "14th Five-Year Plan" emphasizes the need for localized development of new agricultural productivity and the upgrade of agricultural financial services from single funding support to comprehensive services that are precise, full-chain, and digital [1] - The Bank of Communications is leveraging its position as a state-owned bank to create a new financial service model that covers the entire agricultural industry chain and lifecycle, driven by "digital + inclusive" initiatives [1] Group 2 - Agricultural technology enterprises face challenges such as high R&D investment, long funding turnover cycles, and seasonal demand, often leading to a situation where they have the desire to innovate but lack the financial means [2] - The "Yinong Quick Loan" from the Bank of Communications effectively addresses these challenges by providing a pure credit loan of 1.3 million yuan within two days, matching the urgent funding needs of agricultural enterprises [2] Group 3 - Agricultural technology is a key driver for the transformation and upgrading of modern agriculture, with financial support being crucial for the application of agricultural innovations in the field [3] - The Bank of Communications has established a long-term strategic partnership with Hangzhou Jimu Zhikong Technology Co., providing 30 million yuan in technology credit loans to support the company's production [3] Group 4 - The issuance of the notice on promoting financing through agricultural facilities and livestock collateral marks a clear direction for financial innovation in agriculture [4] - The Bank of Communications has successfully implemented a "post-sale leaseback" project for breeding pigs, overcoming the valuation challenges of living assets and creating a quantifiable and traceable value for biological assets [4] Group 5 - The innovative practices of the Bank of Communications demonstrate that with a scientific and comprehensive valuation system and risk control mechanism, biological asset financing can transition from "single-point breakthroughs" to "batch replication," opening new financing channels for various agricultural operators [5]