Group 1: Agricultural Harvests - In Heilongjiang, fresh corn is entering the harvest season with 24,000 acres expected to be fully harvested by mid-September, utilizing mechanized harvesting to accelerate the process [1] - The introduction of sweet and glutinous corn varieties in Yian County has led to an increase in yield to 1.5 tons per acre, providing a 60% increase in benefits compared to traditional planting methods [3] - In Hubei, peanut harvesting is also in full swing, with yields of 600-700 pounds per acre, generating over 2,000 yuan per acre in revenue [5] Group 2: Tomato Processing - In Xinjiang, 18,300 acres of processing tomatoes are being harvested, with machines efficiently completing multiple processes from picking to packaging [5] - The yield for processing tomatoes can reach 9 tons per acre, supported by a comprehensive service from processing factories throughout the planting and harvesting stages [7] Group 3: Fishing Industry - The fishing industry in Zhejiang is experiencing a resurgence as fishing boats return with full loads following the lifting of seasonal fishing restrictions [9] - The catch per net has significantly increased, stabilizing at over 3,000 pounds, indicating a substantial growth compared to the same period last year [13]

"张文奎，兽医学博士，从广州宠物医院老板转型为"非洲大型农场CEO"，在莫桑比克租地25500亩种植玉米。面对虫灾、农机损坏及高昂海运 成本等挑战，首季亩产仅250斤，但仍看到广阔前景。另外还有10万亩级别的种植计划，并探索上下游业务。非洲丰富的土地资源和中国农业 技术优势相结合，虽面临供应链短缺等困境，但中国企业对非投资持续增长，张文奎等人正开创"海外粮仓"新篇章 8月22日，张文奎结束了在莫桑比克第一年的种植试验，启程返回中国。 从广州宠物医院老板，到"非洲大型农场CEO（首席执行官）"，这位"70后"兽医学博士的人生轨迹，在莫桑比克贝拉市布济河三角洲彻底改变。 在25500亩的租地上，他和"中国合伙人"种出"莫桑比克最大单体玉米田"。过去一年，他们经历了虫灾肆虐、农机损坏，还有远超预期的海运成本、近乎 空白的农业基础设施的困扰⋯⋯首季亩产仅250斤，他仍从中看到广阔前景，甚至感叹"晚来一百年"。 而在赞比西河三角洲，另一个10万亩级别的种植计划，正在徐徐拉开大幕。 这是一场"卷尽人生下半场"的创业，也是一场不远万里的"海外粮仓"试验。项目背后是中国农业企业和投资走向海外的典型困境：面对广袤而陌生的非洲 ...

南财投研通数据显示，8月25日，券商给予上市公司目标价共63次，按最新收盘价计算，目标价涨幅排名居前的公司有隆平 高科、新集能源、北新建材，目标价涨幅分别为38.75%、37.40%、36.57%，分别属于种植业、煤炭开采、装修建材行业。 | | | 08月25日目标价涨幅排名 | | | | | --- | --- | --- | --- | --- | --- | | 证券代码 | 证券名称 | 机构 | 最新评级 | 最高目标价 | 目标涨幅 | | | | | | (元) | (%) | | 000998 | 隆平高科 | 中国国际金融 | 跑赢行业 | 14.00 | 38.75 | | 601918 | 新集能源 | 中信证券 | 买入 | 9.00 | 37.40 | | 000786 | 北新建材 | 天风证券 | 买入 | 36.90 | 36.57 | | 688123 | 聚辰股份 | 华创证券 | 强推 | 112.61 | 34.48 | | 301308 | 江波龙 | 华泰证券 | 买入 | 129.10 | 33.46 | | 000786 | 北新建材 | 中国国际金融 | ...

Core Viewpoint - On August 25, 2023, brokerage firms provided target prices for listed companies, with notable increases in target prices for companies in the agriculture, coal mining, and construction materials sectors, indicating potential investment opportunities in these industries [1][2]. Target Price Increases - The companies with the highest target price increases were: - Longping High-Tech (隆平高科) with a target price increase of 38.75% to 14.00 CNY [2] - Xinji Energy (新集能源) with a target price increase of 37.40% to 9.00 CNY [2] - Beixin Building Materials (北新建材) with a target price increase of 36.57% to 36.90 CNY [2] Brokerage Recommendations - A total of 163 listed companies received brokerage recommendations on August 25, with notable mentions: - Shede Liquor (舍得酒业) received 4 recommendations [4] - Shuiyang Co. (水羊股份) and Marubi Biotechnology (丸美生物) each received 3 recommendations [4] Rating Adjustments - One company had its rating upgraded: - Guodian Power (国电电力) was upgraded from "Hold" to "Buy" by Huayuan Securities [5] - Three companies had their ratings downgraded: - Minhe Livestock (民和股份) from "Buy" to "Hold" [6] - Chifeng Gold (赤峰黄金) from "Buy" to "Hold" [6] - Silan Microelectronics (士兰微) from "Buy" to "Hold" [6] First-Time Coverage - Seven companies received first-time coverage with positive ratings: - Ganhua Science and Technology (甘化科工) received a "Buy" rating from Dongwu Securities [7] - Wangneng Environment (旺能环境) received a "Buy" rating from Xinda Securities [7] - Yingliu Co. (应流股份) received an "Increase" rating from Shanxi Securities [7] - New Clean Energy (新洁能) received an "Increase" rating from Industrial Securities [7] - Weijian Medical (稳健医疗) received a "Buy" rating from Northeast Securities [7]

从广州宠物医院老板，到"非洲大型农场CEO（首席执行官）"，这位"70后"兽医学博士的人生轨迹，在莫桑比克贝拉市布济河三角洲彻底改变。 8月22日，张文奎结束了在莫桑比克第一年的种植试验，启程返回中国。 在25500亩的租地上，他和"中国合伙人"种出"莫桑比克最大单体玉米田"。过去一年，他们经历了虫灾肆虐、农机损坏，还有远超预期的海运成本、近乎空 白的农业基础设施的困扰首季亩产仅250斤，他仍从中看到广阔前景，甚至感叹"晚来一百年"。 而在赞比西河三角洲，另一个10万亩级别的种植计划，正在徐徐拉开大幕。 这是一场"卷尽人生下半场"的创业，也是一场不远万里的"海外粮仓"试验。项目背后是中国农业企业和投资走向海外的典型困境：面对广袤而陌生的非洲土 地，既有巨大利润空间，也需应对供应链短缺、基础设施落后、社会风险等多重挑战。 2024年7月17日晚，莫桑比克第三大城市楠普拉。考察行程中的张文奎正在饭店吃饭，路边一个十几岁男孩冲他喊着葡萄牙语。他问同伴喊的什么，同伴翻 译过来说："莫桑比克太穷了，快点来帮我们，给我们带来工作。" 张文奎大受震撼。这印证了他考察的印象：莫桑比克是一个自然资源极其丰富，但社会组织程度有限 ...

（文章来源：新华财经） 农业咨询公司AgRural周一（8月25日）表示，截至上周四（8月21日），巴西中南部地区2025年二茬玉 米收割进度达98%，2025/26年度首茬玉米播种进度达预期面积的3.2%。 ...

证券之星消息，8月25日种植业板块较上一交易日上涨0.66%，荃银高科领涨。当日上证指数报收于 3883.56，上涨1.51%。深证成指报收于12441.07，上涨2.26%。种植业板块个股涨跌见下表： 从资金流向上来看，当日种植业板块主力资金净流出1.87亿元，游资资金净流入1289.6万元，散户资金净 流入1.74亿元。种植业板块个股资金流向见下表： | 代码 | 名称 | 主力净流入(元) | 主力净占比 游资净流入(元) | | 游资净占比 散户净流入(元) | | 散户净占比 | | --- | --- | --- | --- | --- | --- | --- | --- | | 300087 | 茎银高科 | 2980.31万 | 4.47% | -944.61万 | -1.42% | -2035.69万 | -3.05% | | 000998 隆平高科 | | 2889.02万 | 7.70% | -1601.44万 | -4.27% | -1287.58万 | -3.43% | | 601952 苏垦农发 | | 1766.94万 | 8.93% | -1313.42万 | -6.64% | ...

Report Summary 1. Report Industry Investment Rating No relevant content provided. 2. Core Viewpoints - The strategy based on industry and theme ETFs constructed by Hengtai Securities Research Institute has achieved certain results. From August 18 - 22, 2025, the strategy's cumulative net return was about 6.08%, and the excess return relative to the CSI 300 ETF was about 1.79%. From October 14, 2024, to the present, the out - of - sample cumulative return of the strategy was about 15.90%, and the cumulative excess relative to the CSI 300 ETF was about 0.76% [3]. - For the week of August 25 - 29, 2025, the model recommends allocating sectors such as communication equipment, industrial metals, and batteries. The strategy will newly hold products like Battery ETF, Science and Technology Innovation Semiconductor ETF, and Industrial Mother Machine ETF, and continue to hold products such as Communication Equipment ETF, Industrial Non - ferrous Metals ETF, and Satellite ETF [12]. 3. Summary by Related Catalogs 3.1 Strategy Portfolio Construction - Hengtai Securities Research Institute constructed a strategy portfolio based on industry and theme ETFs according to the strategy reports "Strategy Portfolio Report under Industry Rotation: Quantitative Analysis from the Perspective of Industry Style Continuity and Switching" (20241007) and "Research on the Overview and Allocation Methods of the Stock - type ETF Market: Taking the ETF Portfolio Based on the Industry Rotation Strategy as an Example" (20241013) [2]. 3.2 ETF Portfolio Information | Fund Code | ETF Name | ETF Market Value (billion yuan) | Holding Status | Heavy - held Shenwan Industry and Weight | Weekly Timing Signal | Daily Timing Signal | | --- | --- | --- | --- | --- | --- | --- | | 159583 | Communication Equipment ETF | 2.68 | Continue to hold | Communication equipment (73.61%) | 1 | 1 | | 560860 | Industrial Non - ferrous Metals ETF | 18.08 | Continue to hold | Industrial metals (54.97%) | 1 | 1 | | 159755 | Battery ETF | 48.90 | Add to portfolio | Battery (60.37%) | 1 | 1 | | 588170 | Science and Technology Innovation Semiconductor ETF | 4.09 | Add to portfolio | Semiconductor (87.1%) | 1 | 1 | | 159667 | Industrial Mother Machine ETF | 6.53 | Add to portfolio | Automation equipment (45.3%) | - 1 | 1 | | 159206 | Satellite ETF | 2.05 | Continue to hold | Military electronics (34.22%) | 1 | 1 | | 516150 | Rare Earth ETF Harvest | 58.89 | Add to portfolio | Minor metals (34.67%) | 1 | 1 | | 560170 | Central State - owned Enterprises Science and Technology ETF | 14.17 | Add to portfolio | Aviation equipment (22.35%) | 1 | 1 | | 588830 | Science and Technology Innovation New Energy ETF | 5.73 | Add to portfolio | Photovoltaic equipment (47.93%) | 1 | 1 | | 159698 | Grain ETF | 2.06 | Add to portfolio | Planting industry (48.33%) | 1 | 1 | [3] 3.3 Performance Tracking - From August 18 - 22, 2025, the strategy's cumulative net return was about 6.08%, and the excess return relative to the CSI 300 ETF was about 1.79%. From October 14, 2024, to the present, the out - of - sample cumulative return of the strategy was about 15.90%, and the cumulative excess relative to the CSI 300 ETF was about 0.76% [3]. 3.4 Portfolio Adjustment - In the week of August 25, 2025, products such as Battery ETF, Science and Technology Innovation Semiconductor ETF, and Industrial Mother Machine ETF will be newly held, while products like Gold Stock ETF, Game ETF, and Innovation Drug ETF will be removed from the portfolio [3][12].

证券研究报告|行业研究周报 [Table_Date] 2025 年 08 月 25 日 猪肉供过于求局面加剧，猪价继续下跌 [Table_Title2] 农林牧渔行业周报第 26 期 [Table_Summary] 本周观点: 种植产业链：8 月 19 日，农业农村部种植业管理司会同全国农 业技术推广服务中心在广西南宁召开全国秋粮作物中后期重大 病虫害防控现场会，组织主产省份观摩重大病虫害绿色防控作 业现场，邀请行业专家重点讲解水稻和玉米病虫害发生规律及 绿色防控技术，动员安排秋粮作物重大病虫害防控工作。会议 指出，秋粮产量占全年粮食产量的四分之三，要完成今年粮食 产量 1.4 万亿斤左右的目标任务，关键看秋粮。把好秋粮病虫 害防控关，对夺取全年粮食丰收意义重大。当前，受降雨偏多 等不利因素影响，秋粮重大病虫害发生重于上年，监测防控任 务仍较为艰巨。8—9 月份是秋粮产量形成的关键时期，也是病 虫害多发重发期。各地要高度重视，突出重点、分类指导、科 学防控，抓住主要作物、重点区域、重大病虫和关键环节，全 力以赴推进"虫口夺粮"保秋粮丰收行动。在粮食安全背景 下，转基因技术在提升单产方面具有革命性作用，我们判断 ...

据中国人保有关负责人介绍，公司引进抚州华弘农业开发有限公司作为经营主体发展芦笋产业。通过 300万元的投资，建立起集育苗、种植、加工、销售于一体的现代化芦笋产业示范园。产业园占地500 亩，建有连栋塑料大棚250余亩、养殖水面50亩，水肥一体化设施3套，两座冷库占地180立方米，一座 气调储藏冷库占地450立方米，还有一个芦笋分拣中心，配套基础设施齐全。 在带动农户增收方面，产业园创新"企业+合作社+农户"模式，流转土地500亩，让200余户农民通过土 地入股、务工就业实现户均年增收超3万元。"由抚州华弘农业开发有限公司提供设备、承担农资开支， 农户以劳动力入股，享受每亩每月200元的兜底工资及按芦笋产出计价的分红，实现了从农户'单打独 斗'到农业开发公司与农户'抱团发展'的转变，增强了农民抗风险能力。"上述负责人表示，截至目前， 已有20户农户签订协议承包30座大棚，预计每年可为种植户增收3万元至4万元。 为提升产业竞争力，中国人保推动产业园与江西省农科院合作，引进技术专家破解种植难题，研发芦笋 饮料、冻干粉等深加工产品，推动产品向有机、高附加值升级。 优质产品也要高声吆喝。借助乐安县入选江西省绿色有机农产 ...