Core Viewpoint - The livestock industry is experiencing fluctuations in stock performance, with a notable decline in pig and piglet prices, leading to potential losses in fattening and breeding segments. The industry is expected to undergo capacity reduction, presenting long-term investment opportunities as valuations are at historical lows [1][2]. Group 1: Market Performance - As of September 18, 2025, the China Livestock Breeding Index (930707) showed mixed performance among its constituent stocks, with Bio-Stock (600201) leading gains at 2.39% and Tian Kang Biological (002100) experiencing the largest decline [1]. - The Livestock ETF (159867) was priced at 0.67 yuan, with a net subscription of 15 million units, marking eight consecutive days of net inflow [1]. Group 2: Industry Events - The 37th Central Plains Livestock Industry Trade Expo opened on September 16, attracting over 350 enterprises from 26 provinces, discussing the development of the livestock industry [1]. Group 3: Investment Insights - Pacific Securities indicated that the decline in pig and piglet prices is shifting the profitability of fattening and breeding segments from profit to loss, with increased demand for risk mitigation as the fourth quarter approaches [1]. - The current fundamentals and policy changes in the pig farming industry are favorable for capacity reduction, with most listed breeding companies' market values at historical lows, indicating significant potential for long-term investment [1]. - The Livestock ETF closely tracks the China Livestock Breeding Index, which includes companies involved in livestock feed, veterinary drugs, and breeding, reflecting the overall performance of related listed companies [1]. Group 4: Top Weight Stocks - As of August 29, 2025, the top ten weighted stocks in the China Livestock Breeding Index accounted for 65.57% of the index, including Muyuan Foods (002714), Wens Foodstuff Group (300498), and others [2].

Group 1 - The core viewpoint of the news is that Jin Xin Nong's stock price increased by 5.08% to 5.17 CNY per share, with a trading volume of 240 million CNY and a turnover rate of 6.00%, resulting in a total market capitalization of 4.162 billion CNY [1] - Jin Xin Nong, established on November 6, 1999, and listed on February 18, 2011, is primarily engaged in the research, production, and sales of pig feed products, as well as information technology services [1] - The revenue composition of Jin Xin Nong's main business includes: pig compound feed 49.43%, live pigs 32.10%, other feed 9.29%, pig concentrated feed 5.43%, pig premix feed 2.82%, others 0.58%, and feed raw materials 0.35% [1] Group 2 - From the perspective of the top ten circulating shareholders, Guotai Fund's ETF, Guotai Zhongzheng Animal Husbandry ETF (159865), increased its holdings by 307,900 shares in the second quarter, holding a total of 8.0051 million shares, accounting for 1% of the circulating shares [2] - The Guotai Zhongzheng Animal Husbandry ETF (159865) was established on March 1, 2021, with a latest scale of 3.574 billion CNY, and has achieved a year-to-date return of 18.21% [2] - The fund manager, Liang Xing, has a tenure of 9 years and 105 days, with the fund's total asset scale at 24.955 billion CNY, achieving the best return of 1112.34% and the worst return of -50.81% during the tenure [2]

Core Viewpoint - The company is actively seeking growth opportunities in various sectors to create value and returns for its shareholders [1] Group 1: Business Operations - The company primarily operates as a foundation subcontractor providing foundation and land leveling engineering services in Hong Kong [1] - In mainland China, the company is engaged in the trade of alcoholic beverages [1] Group 2: Strategic Initiatives - The company is exploring investment opportunities in modern aquaculture operations, which may include the development of specialized breeding facilities and related value-added products [1] - The company is considering opportunities in livestock farming and animal husbandry, potentially involving modern farm operations and related agricultural product production [1] - The company is evaluating a potential acquisition of a licensed virtual asset trading platform, which may include establishing and operating regulated cryptocurrency exchange services and related fintech solutions [1] Group 3: Competitive Advantage - The board believes that these strategic initiatives can leverage the company's resources and expertise while opening new market opportunities, thereby enhancing competitiveness and creating sustainable value for shareholders [1]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任 何部份內容而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 BASETROPHY GROUP HOLDINGS LIMITED 基地錦標集團控股有限公司 （於開曼群島註冊成立之有限公司） 畜牧業： 本公司正考慮畜牧養殖及動物飼養方面的機遇，當中可包括現代化農場營運及相 關農產品生產。 加密貨幣兌換業務： 本公司正評估潛在收購一個持牌虛擬資產交易平台，當中可能包括設立及營運受 規管的虛擬貨幣兌換服務以及相關金融科技解決方案。 1 （股份代號：8460） 自願公告 最新業務狀況 基地錦標集團控股有限公司（「本公司」，連同其附屬公司統稱「本集團」）董事會 （「董事會」）謹此發出本自願公告，旨在知會其股東（「股東」）及潛在投資者有關本 集團所採納的最新業務發展策略。 本集團主要業務為在香港作為底層結構分包商提供地基及地盤平整工程以及其他 土力工程，並在中國從事酒類飲料貿易。為本公司及其股東創造價值及回報，本公 司正積極物色具龐大增長潛力的行業機遇，包括但不限於： 養殖業 ...

截至2025年9月17日收盘，中证畜牧养殖指数(930707)下跌0.95%。成分股方面涨跌互现，兄弟科技 (002562)领涨10.02%，星湖科技(600866)上涨0.80%，瑞普生物(300119)上涨0.32%；金新农(002548)领 跌。畜牧ETF(159867)最新报价0.68元，今日净申购2900万份，连续7天获资金净流入，累计净申购3.46 亿份。 畜牧板块回调，但受反内卷影响，市场仍然看好生猪行业前景，9月16日，生猪产能调控企业座谈会在 北京召开，牧原股份、温氏股份等多家企业参会，会上提到了落实生猪出栏称重等内容。消息称，有关 部门之前已召开"生猪生产调度会"，计划将全国能繁母猪存栏量在现有基础上调减100万头左右，即降 至约3950万头。 兴业研究指出，当前生猪养殖行业正处于从规模竞争向质量效益转型的关键阶段。未来行业将面临三重 考验：供需再平衡中的价格波动风险、饲料成本反弹压力以及债务结构优化挑战。在此背景下，具备全 产业链协同能力、精细化管控体系和抗周期机制的企业将进一步巩固优势地位，而缺乏核心竞争力的小 微企业生存空间将持续收窄。行业洗牌进程较2024年明显加速，市场竞争焦点全 ...

当前仔猪和生猪价格持续下跌至盈亏平衡线附近，随着供给压力增加，现货预计将亏损，那么市场化进 行增产的意愿较弱，这为Q4能繁母猪去化幅度扩大提供了基础。 畜牧养殖板块近期的强势表现，主要受到"反内卷"政策催化。政策端严控新增产能，推动行业逐步走出 低价竞争阶段，引导猪价进入合理盈利区间。近期能繁母猪存栏量不增反降，进一步验证了去产能政策 的实效，行业正从粗放扩张转向结构优化，头部企业凭借成本和规模优势更为受益。 从短期市场风格来看，养殖ETF跟踪的中证畜牧养殖指数最新市盈率（PE-TTM）仅15倍，处于近3年 19.35%的分位，即估值低于近3年80.65%以上的时间，处于历史低位，安全边际较高。若科技板块热度 回落，资金出现"高低切"，养殖板块具备明显的补涨潜力。建议积极关注养殖ETF(516760.SH)。 9月17日午盘，养猪概念股持续颓势，养殖ETF(516760)现跌0.97%，持续溢价，产品连续3日获得净申 购。成分股方面涨跌互现，兄弟科技(002562)领涨10.02%，星湖科技(600866)上涨0.67%，温氏股份 (300498)上涨0.46%；金新农(002548)领跌3.73%，海大集团 ...

Group 1 - The core viewpoint of the news highlights the recent developments in the livestock industry, particularly the pig farming sector, where a policy shift is expected to lead to a reduction in production capacity and a potential revaluation of low-cost advantage companies [1][2] - The China Livestock Breeding Index (930707) shows mixed performance among its constituent stocks, with Brother Technology (002562) leading the gains at 10.02%, while Haida Group (002311) experienced the largest decline [1] - The Livestock ETF (159867) has seen continuous net inflows over the past six days, with a peak single-day net inflow of 98.05 million yuan, totaling 218 million yuan, indicating strong investor interest in the sector [1] Group 2 - The recent pig production capacity adjustment meeting mandated that 25 leading pig companies must collectively reduce production by 1 million breeding sows by the end of the year, marking a shift from policy discussions to quantitative assessments [1] - The pig farming sector is expected to benefit from a rotation in the pig cycle and a reduction in supply, which could positively influence pig prices and the overall performance of the sector [2] - The top ten weighted stocks in the China Livestock Breeding Index account for 65.57% of the index, with leading companies such as Muyuan Foods (002714) and Wens Foodstuffs (300498) being significant players in the market [3]

Group 1 - Hainan Agricultural Reclamation Investment Holding Group is implementing a long-term mechanism for officials to work at the grassroots level, promoting problem-solving and enhancing management effectiveness [2][4][9] - The company encourages young managers to participate in hands-on training, such as rubber tapping, to better understand the production process and improve collaboration across departments [3][4] - The initiative has led to a significant improvement in communication and problem-solving capabilities within the workforce, fostering a culture of practical engagement [3][6][9] Group 2 - Hainan Agricultural Reclamation Pig Industry Company has established a system requiring headquarters employees to spend time on-site, enhancing their understanding of operational challenges and facilitating direct problem resolution [6][7] - The company successfully identified and addressed issues related to feed conversion rates by developing customized nutrition plans, resulting in substantial cost savings [7][8] - A mechanism for immediate problem-solving has been implemented, allowing for efficient handling of procurement and operational needs directly at the production sites [8][9]

Group 1 - The core viewpoint indicates that the poultry industry, particularly the yellow-feathered chicken sector, has returned to profitability since August, with individual chicken profits estimated at 3-4 yuan, potentially offsetting earlier losses in the year [1] - The Pacific Securities report highlights a significant turnaround in the yellow chicken industry's integrated breeding model, which has led to substantial profits in August, contrasting with previous losses [1] - The recent increase in yellow chicken prices is attributed to low production capacity and a recovery in consumer demand, with expectations for continued price rebounds as the autumn and winter consumption peak approaches [1] Group 2 - As of August 29, 2025, the top ten weighted stocks in the China Securities Livestock Breeding Index account for 65.57% of the index, including major companies such as Muyuan Foods, Wens Foodstuff Group, and Haida Group [2]

9月16日，晓鸣股份跌5.03%，截至发稿，报23.80元/股，成交1.94亿元，换手率6.43%，总市值44.64亿 元。 风险提示：市场有风险，投资需谨慎。本文为AI大模型自动发布，任何在本文出现的信息（包括但不 限于个股、评论、预测、图表、指标、理论、任何形式的表述等）均只作为参考，不构成个人投资建 议。 责任编辑：小浪快报 国泰中证畜牧养殖ETF（159865）基金经理为梁杏。 截至发稿，梁杏累计任职时间9年103天，现任基金资产总规模249.55亿元，任职期间最佳基金回报 1112.34%， 任职期间最差基金回报-51.37%。 资料显示，宁夏晓鸣农牧股份有限公司位于宁夏银川市金凤区创业街36号，成立日期2011年7月5日，上 市日期2021年4月13日，公司主营业务涉及祖代蛋种鸡、父母代蛋种鸡养殖;父母代种雏鸡、商品代雏鸡 (蛋)及其副产品销售;商品代育成鸡养殖及销售。主营业务收入构成为：鸡收入87.88%，副产品收入 12.10%，其他(补充)0.02%。 从晓鸣股份十大流通股东角度 数据显示，国泰基金旗下1只基金位居晓鸣股份十大流通股东。国泰中证畜牧养殖ETF（159865）二季 度新进十大流 ...