Group 1 - The China Livestock Breeding Index (930707) increased by 0.05% as of May 27, 2025, with notable gains from companies such as Ruip Bio (300119) up 1.68% and Yike Food (301116) up 1.44% [1] - The Livestock ETF (516760) rose by 0.16%, with a latest price of 0.63 yuan, and has accumulated a 0.64% increase over the past two weeks [1] - The Livestock ETF has shown a net value increase of 3.27% over the past six months, with a maximum single-month return of 17.22% since its inception [1] Group 2 - Sichuan Province has drafted ten measures to promote high-quality development in the livestock industry, focusing on strengthening leading enterprises and supporting their participation in large-scale projects [2] - The measures aim to enhance the capabilities of leading livestock enterprises to drive the development of farms and households [2] Group 3 - Short-term pig prices are expected to remain stable, with a balanced supply-demand situation anticipated in the second half of the year, leading to a more optimistic outlook for pig price expectations and profitability of pig enterprises [3] - Current pig prices allow for slight profitability for breeding enterprises, but the industry faces challenges in capacity reduction, with cost competition becoming a key focus [3] Group 4 - As of May 26, 2025, the Livestock ETF has experienced a maximum drawdown of 5.00% this year, with a management fee of 0.50% and a custody fee of 0.10% [5] - The Livestock ETF tracks the China Livestock Breeding Index, which has a current price-to-earnings ratio (PE-TTM) of 12.33, indicating a historical low valuation [5] - The top ten weighted stocks in the China Livestock Breeding Index account for 69.38% of the index, with companies like Haida Group (002311) and Muyuan Foods (002714) being the largest contributors [5]

证券代码：300313 证券简称：*ST 天山 新疆天山畜牧生物工程股份有限公司 投资者关系活动记录表 编号：2025-01 | | □特定对象调研□分析师会议 | | --- | --- | | 投资者关系活动 | □媒体采访√业绩说明会 | | 类别 | □新闻发布会□路演活动 | | | □现场参观 | | | □其他（请文字说明其他活动内容） | | 参与单位名称及 | 投资者网上提问 | | 人员姓名 | | | 时间 | 2025 年 5 月 23 日 (周五)15:00-18:00 | | 地点 | 公司通过全景网"投资者关系互动平台"（https://ir.p5w.net） | | | 采用网络远程的方式召开业绩说明会 | | 上市公司接待人 | 董事、代理董事长、副总经理、董事会秘书：韩明辉先生 总经理：葛建军先生 | | 员姓名 | | | | 财务总监：陈越凡女士 公司于 2025 年 5 月 23 日 15:00-18:00 通过全景网"投资者 | | | 关系互动平台"（https://ir.p5w.net）采用网络远程的方式召 开业绩说明会。主要问题及公司回复情况如下： | | | ...

Group 1 - The Sichuan Provincial Department of Agriculture and Rural Affairs has drafted a document titled "Ten Measures to Promote High-Quality Development of Animal Husbandry (Draft for Comments)" [1] - The document emphasizes the importance of nurturing and strengthening leading enterprises in the animal husbandry sector, aiming to cultivate a group of strong, innovative companies that can drive industry development and improve quality and efficiency [1] - An investor inquiry to New Hope (000876) revealed that the company has just seen this document and is not currently aware of any plans for mergers or acquisitions, indicating that the company will conduct further research on the matter [1]

Group 1 - The core viewpoint of the article is the Sichuan Provincial Government's initiative to promote high-quality development in the livestock industry through a set of ten measures aimed at enhancing the sector's efficiency and competitiveness [1][2][3][4] Group 2 - The measures include fostering leading livestock enterprises that can drive industry development, with support for projects like the trillion-yuan livestock industry cultivation and modern agricultural industrial parks [1] - There is a focus on upgrading pig slaughtering processes and supporting mergers and acquisitions among slaughtering enterprises, with financial incentives for those meeting quality management standards by December 31, 2025 [1] - The plan emphasizes the importance of deep processing of meat products, with support for specialized meat processing enterprises and significant annual funding for national and provincial industrial clusters [1] Group 3 - The initiative aims to enhance market monitoring and early warning capabilities by establishing a smart management platform for pig production and improving data sharing among various government departments [2] - It proposes an optimized pork reserve adjustment mechanism to respond to price fluctuations, including a plan to initiate temporary reserves when prices drop significantly, with a minimum storage amount of 3,000 tons [2] Group 4 - The measures also include upgrading pig price insurance to a comprehensive income insurance for pig farming, indicating a shift towards more holistic risk management for farmers [3] Group 5 - The public consultation period for these proposed measures is from May 23, 2025, to June 23, 2025, allowing stakeholders to provide feedback [4]

Group 1 - The core viewpoint of the article is the introduction of ten measures by Sichuan Province to promote high-quality development in the livestock industry, focusing on expanding consumption markets and enhancing international trade capabilities [1] Group 2 - The measures emphasize the expansion of the domestic market by improving the cold chain logistics system and utilizing various e-commerce platforms, including new retail and "live streaming+" models [1] - There is a specific focus on promoting Sichuan's unique livestock products, such as Sichuan black pigs and yak meat (milk), to first-tier cities [1] - The initiative encourages the export of Sichuan livestock products, supporting the construction of breeding and processing bases that meet export requirements, and promoting participation in market expansion activities like "Chuanxing Tianxia" [1] - The use of transportation routes such as the China-Laos Railway and the Western Land-Sea New Corridor is highlighted to enhance the export capabilities of Sichuan livestock products to markets like Hong Kong and Southeast Asia [1]

点击注册小程序 截至5月23日，白羽肉毛鸡价格为7.36元/公斤，周环比下跌0.54%，鸡苗价格2.85元/羽，周环比持平。毛 鸡方面，合同鸡供应量增加，屠宰企业有库存压力且宰杀亏损，采购社会鸡意愿减弱。鸡苗方面，供应宽 松，北方农忙在即，养殖户鸡苗补栏谨慎，部分种鸡场鸡苗订单放缓，种鸡场有挺价情绪，苗价整体维 稳。 本周玉米现货价格上涨，豆粕、小麦价格下跌 截至5月23日，玉米现货均价为2376.08元/吨，环比上涨0.05%；豆粕现货均价3028.00元/吨，环比下跌 2.82%；小麦现货均价为2464.56元/吨，环比下跌0.18%。玉米方面，目前华北小麦收割，玉米小麦价差收 窄，抑制玉米价格上涨，同时市场仍担心进口玉米拍卖、定向稻谷投放等，短期玉米价格维持震荡。豆粕 方面，现货价格跌至历史偏低水平，阿根廷产区遭遇洪水，叠加市场消息广东地区进口大豆通关时间延 长，远期低价合同成交连续放量，贸易商主动提价销售，预计豆粕价格短期存反弹动力。 天然橡胶价格下跌 特别申明： 本订阅号中所涉及的证券研究信息由光大证券研究所编写，仅面向光大证券专业投资者客户，用作新媒体形势下研究 信息和研究观点的沟通交流。非光大证 ...

Core Viewpoint - The company plans to increase its daily related transactions for the year 2025 with its affiliated parties, including specific financial estimates for these transactions [1][2][5]. Summary by Sections 1. Overview of Related Transactions - The company held meetings on November 26, 2024, and December 12, 2024, to discuss and approve the expected daily related transactions for 2025 with its affiliates [1][2]. - The transactions will involve the company and its subsidiaries engaging with related parties such as Muyuan Industrial Group and its subsidiaries [2]. 2. Expected Transaction Categories and Amounts - The company anticipates various categories of related transactions, with estimated amounts as follows: - Purchase of vehicles and parts from Muyuan Industrial Group: Adjusted amount of 160 million yuan [2]. - Procurement of machinery and equipment from Henan Zhengtai Muyuan Intelligent Electric Technology Co., Ltd.: Adjusted amount of 60 million yuan [2]. - Acceptance of construction services from Henan Muyuan Construction Engineering Co., Ltd.: Adjusted amount of 4 billion yuan [2]. - Sale of pork products and other goods to Muyuan Industrial Group: Adjusted amount of 156 million yuan [3]. 3. Related Party Information - Muyuan Industrial Group, the controlling shareholder of the company, has total assets of 208.855 billion yuan and net assets of 78.542 billion yuan as of December 31, 2024 [4]. - Henan Zhengtai Muyuan Intelligent Electric Technology Co., Ltd. has total assets of 45.4642 million yuan and net assets of 30.1803 million yuan as of December 31, 2024 [4]. - Henan Muyuan Construction Engineering Co., Ltd. has total assets of 8.262 billion yuan and net assets of 3.633 billion yuan as of December 31, 2024 [5]. 4. Purpose and Impact of Related Transactions - The daily related transactions are necessary for the company's operational needs and are conducted on a fair and mutually beneficial basis [5][6]. - The pricing of these transactions adheres to market principles, ensuring that the interests of both parties are maintained without harming the interests of minority shareholders [5][6]. 5. Independent Directors' Review - The independent directors have unanimously agreed that the proposed increase in daily related transactions complies with relevant laws and regulations, ensuring no harm to the company or non-related shareholders [6].

Group 1: Report Industry Investment Rating - The investment rating for the pig and egg markets is neutral [3][5] Group 2: Core Viewpoints of the Report - The future supply of live pigs will further increase, while the consumption side is expected to remain stable, leading to increased pressure on the spot market. As the weather gets hotter, the demand for secondary fattening will be suppressed, and the price difference between large fat pigs and standard pigs may continue to widen, accelerating the slaughter of large fat pigs [2] - In the short term, the market pattern of oversupply in the egg market is difficult to change, and the consumer end has limited ability to accept high prices [4] Group 3: Summary by Related Catalogs Live Pig Market Market News and Important Data - Futures: The closing price of the live pig 2509 contract yesterday was 13,580 yuan/ton, a change of -70.00 yuan/ton from the previous trading day, a decrease of 0.51% [1] - Spot: The price of external ternary live pigs in Henan was 14.33 yuan/kg, a change of -0.27 yuan/kg from the previous trading day; in Jiangsu, it was 14.57 yuan/kg, a change of -0.31 yuan/kg; in Sichuan, it was 14.16 yuan/kg, a change of -0.10 yuan/kg [1] - Agricultural product wholesale prices: On May 22, the "Agricultural Product Wholesale Price 200 Index" was 114.02, down 0.07 points from the previous day. The average wholesale price of pork in the national agricultural product wholesale market was 20.67 yuan/kg, down 0.2% from the previous day [1] Market Analysis - Future live pig supply will increase, consumption will remain stable, and spot pressure will increase. Secondary fattening demand will be suppressed by hot weather, and the price difference between large fat pigs and standard pigs may widen, accelerating the slaughter of large fat pigs [2] Strategy - The live pig market is expected to maintain a pattern of strong supply and weak demand, with a neutral strategy [3] Egg Market Market News and Important Data - Futures: The closing price of the egg 2507 contract yesterday was 2,957 yuan/500 kilograms, a change of -2.00 yuan from the previous trading day, a decrease of 0.07% [3] - Spot: The egg spot price in Liaoning was 3.04 yuan/jin, unchanged from the previous trading day; in Shandong, it was 3.10 yuan/jin, a change of -0.10 yuan; in Hebei, it was 2.62 yuan/jin, a change of -0.05 yuan [3] - Inventory: On May 22, 2025, the national production - link inventory was 1.31 days, an increase of 0.20 days from the previous day, an increase of 18.02%. The circulation - link inventory was 1.87 days, an increase of 0.24 days from the previous day, an increase of 14.72% [3] Market Analysis - Last week was the post - stocking digestion period, demand was difficult to increase, market transactions slowed down, and festival stocking by supermarkets and e - commerce had not started. Considering the limited boost from the Dragon Boat Festival, the storage time of eggs was reduced due to weather, and traders were cautious in purchasing, resulting in weak overall demand [4] Strategy - The egg market is expected to maintain a pattern of oversupply in the short term, with a neutral strategy [5]

生猪日报 | 2025-05-23 另存为PDF 【期价震荡偏弱】 【市场动态】 1、5月22日，生猪注册仓单663手； 2、LH2507合约以期现回归、交割博弈为主，远月受现货价格下跌和后续出栏量 或继续增加预期影响震荡偏弱运行； 3、主力合约（LH2509）今日增仓2101手，持仓约8.07万手，最高价13685元/ 吨，最低价13515元/吨，收盘于13580元/吨。 【基本面分析】 1、能繁母猪存栏量看，3-12月生猪供应量有望逐月增加，但幅度有限。仔猪数 据看，2025年二三季度生猪出栏量整体震荡增加；需求端来看，上半年较下半 年相比属需求淡季，下半年属需求旺季； 4）虽然我们认为中长期看现货仍有新低可能，但由于其不确定性较高，且短期 市场降重驱动尚不强烈，盘面价格处于相对合理区间，建议暂时观望。 作者： 史香迎 生猪分析师 期货从业资格：F03086321 交易咨询资格：Z0019355 2、 从历史情况和现下基本面来看，肥标差或震荡调整； 3、市场多空逻辑： 空头：①养殖端尚未进行降重，实则利空后市；②后续出栏 量有望持续增加；③二三季度尚未到消费旺季，需求对猪价的支撑有限；多 头：①冻品库存仍 ...

在中国乡村的沃土上，传统农业正焕发全新活力。科技创新与产业变革深度融合，机械化的智慧农业、高效集约的产业链条、蓬勃发展的乡村 经济，共同勾勒出乡村振兴的崭新图景。 ■科技助力增产 随着四川大部分地区油菜进入成熟收割期，一些示范片的测产工作也在进行中。 ■一朵花带动一个村 五月芳菲醉人间，3000余株藤蔓月季在沟渠头村的巷道间翻涌成花海。 近日，四川省农业农村厅组织专家对泸县现代农业产业园"育繁推"一体化服务项目进行了油菜田间现场测产验收，油菜单产实现突破，为下一 步大面积推广打下基础。 这个位于山西省运城市闻喜县的"山西美丽休闲乡村"，正以月季为媒，绘就"花漾经济"的乡村振兴新图景。 一场夏雨过后，吉林省集安市凉水朝鲜族乡的千亩梨园迎来盛花期。洁白的梨花在雨水润泽下愈发娇艳，晶莹雨珠点缀花瓣，清香裹挟着泥 土，芬芳弥漫梨园，吸引众多游客前来打卡。 近年来，凉水朝鲜族乡依托独特的气候、土壤优势，大力发展梨树种植，所产梨子皮薄肉嫩、甘甜爽口。当地以花为媒，积极发展乡村旅游， 完善配套基础设施，推出朝鲜族民俗馆游览、特色美食品鉴等活动，全力推进农旅融合。梨花盛景不仅成为当地的亮丽名片，更为乡村振兴注 入新活力。 ■ ...