Financial Performance - The company reported a basic earnings per share of -0.20 yuan for Q1 2025, a decrease of 100% compared to -0.10 yuan in Q1 2024 [1] - The net profit for Q1 2025 was -0.71 billion yuan, representing a decline of 102.86% from -0.35 billion yuan in Q1 2024 [1] - The operating revenue decreased by 10.34% to 4.68 billion yuan in Q1 2025 from 5.22 billion yuan in Q1 2024 [1] - The return on equity was -3.55% in Q1 2025, down from -1.54% in Q1 2024, indicating a significant decline in profitability [1] Shareholder Information - The top ten unrestricted shareholders hold a total of 10,224.58 million shares, accounting for 33.93% of the circulating shares, with a decrease of 198.89 million shares compared to the previous period [2] - Notable shareholders include Sun Ximin with 4,715.50 million shares (15.64%), Sun Xianqiu with 2,000.44 million shares (6.64%), and Sun Xianfa with 1,583.91 million shares (5.26%), all of whom did not change their holdings [3] Dividend Policy - The company has decided not to distribute dividends or transfer shares in the current period [4]

中国经济网北京4月25日讯神农集团（605296）(605296.SH)披露公告，公司于2025年4月24日收到上海证券交易所就公司2024年 度以简易程序向特定对象发行A股股票事项申请的审核意见："根据《证券法》《上市公司证券发行注册管理办法》《上海证券 交易所上市公司证券发行上市审核规则》等有关法律、法规及本所有关规定，云南神农农业产业集团股份有限公司以简易程序 向特定对象发行股票申请符合发行条件、上市条件和信息披露要求。本所将在收到你公司申请文件后提交中国证监会注册。" 神农集团本次向特定对象发行股票事项尚需获得中国证监会作出同意注册的决定，最终能否获得中国证监会同意注册的决定及 时间尚存在不确定性。公司将根据进展情况，严格按照上市公司向特定对象发行股票相关法律法规的要求及时履行信息披露义 务，请广大投资者注意投资风险。 根据本次发行的竞价结果，发行对象拟认购金额合计为29,000.00万元，扣除相关发行费用后的募集资金净额将全部用于红河弥 勒神农畜牧有限公司五山乡年出栏24万头优质仔猪扩繁基地建设项目、云南神农集团石林畜牧有限公司林口铺养殖场生物安全 升级技改建设项目、产业链数字化智能化建设项目、补充 ...

市盈率的第三种情况是寡头垄断型 、 低增长 、 成熟工业制造业的市盈率 ， 这种市盈率都是比较 低的 ， 因为它未来利润增长缓慢 ， 已经到了成熟期 ， 所以可以把它当做一种债券或者分红股来 投资 。 最典型的就是格力电器 ， 格力电器早年的时候 ， 它的行业市占率很低 ， 比如说格力电 器从 2000 年到 2005 年 ， 它的市值一直不涨 ， 一直是 50 亿的市值 ， 当时格力电器有将近 200 亿的营收 ， 它的净利率很低 ， 只有 2% 、 3% ， 那 200 亿的营收呢 ， 只有 5 个亿的利润 ， 5 亿利润 ， 50 亿市值是当年估值最低点 。 格力电器从 2005 年开始之后 ， 一系列的改革措 施 ， 降本增效 ， 提高净利率 ， 盈利能力 、 毛利率都极大增加 ， 导致格力电器的利润从 4 个 亿涨到今天的 400 多亿 ， 涨了 100 倍 ， 市值也涨了 100 倍 ， 由 50 亿涨到 4000 多亿 。 格 力电器最好的投资机会应该是 2005 年前后 ， 当时行业市占率比较低的时候 ， 投资到现在 ， 格 力电器的空调占到中国的一半左右 ， 已经进入了寡头垄断的一个格局 ， ...

Investment Rating - The report maintains a "Buy-B" rating for the company, indicating a positive outlook for the stock's performance in the near term [4][8]. Core Insights - The company achieved a revenue of 18.586 billion yuan in 2024, a year-on-year increase of 0.53%, and a net profit of 724 million yuan, reflecting a growth of 9.03% compared to the previous year [5]. - The earnings per share (EPS) for 2024 is reported at 0.59 yuan, with a return on equity (ROE) of 6.96%, which is an increase of 0.38 percentage points year-on-year [5]. - The poultry farming and processing segment saw a revenue decline of 1.53% to 10.356 billion yuan, while the food processing segment grew by 9.63% to 7.010 billion yuan [6]. - The company is focusing on cost management and efficiency improvements across its operations to counteract pricing pressures [5]. Financial Performance Summary - The company’s projected net profits for 2025, 2026, and 2027 are 996 million yuan, 1.285 billion yuan, and 1.635 billion yuan, respectively, with corresponding EPS of 0.80 yuan, 1.03 yuan, and 1.31 yuan [8]. - The projected revenue growth rates for the next few years are 17.5% in 2025, 11.7% in 2026, and 9.6% in 2027 [11]. - The gross margin is expected to improve from 11.1% in 2024 to 13.2% by 2027 [11]. - The company’s total assets are projected to increase from 20.891 billion yuan in 2024 to 27.741 billion yuan in 2027 [12]. Segment Performance - The poultry segment's sales volume increased by 14.72% to 1.4027 million tons, despite revenue decline due to pricing pressures [5]. - The food processing segment's sales volume grew by 6.32%, with a focus on expanding market share through enhanced service models [6]. - The breeding segment reported over 30% growth in the sales volume of its "Shengze 901plus" breed [6].

公募基金方面本期较上一季度持股减少的公募基金共计1个，即国泰中证畜牧养殖ETF，持股减少占比 达0.57%。本期较上一季度新披露的公募基金共计63个，主要包括招商量化精选股票发起式A、招商中 证畜牧养殖ETF、中信保诚多策略混合(LOF)A、畜牧ETF、中信建投价值增长A等。本期较上一季未再 披露的公募基金共计1个，即中邮多策略灵活配置混合。 2025年4月15日，金新农(002548.SZ)发布2024年年度报告。截至2025年4月14日，共有69个机构投资者 披露持有金新农A股股份，合计持股量达3.15亿股，占金新农总股本的39.14%。其中，前十大机构投资 者包括广州金农产业投资合伙企业(有限合伙)、中国银行股份有限公司-华夏行业景气混合型证券投资基 金、浙商银行股份有限公司-国泰中证畜牧养殖交易型开放式指数证券投资基金、华夏基金管理有限公 司-社保基金四二二组合、UBS AG、BARCLAYS BANK PLC、中国银行股份有限公司-招商量化精选股 票型发起式证券投资基金、招商中证畜牧养殖ETF、中信保诚多策略混合(LOF)A、畜牧ETF，前十大机 构投资者合计持股比例达38.19%。相较于上一季度， ...

Group 1 - The core viewpoint of the news is the disclosure of shareholding information for Shengnong Development (002299.SZ) as of April 11, 2025, highlighting significant institutional investor participation [1] - A total of 235 institutional investors hold shares in Shengnong Development, with a combined holding of 774 million shares, representing 62.24% of the total share capital [1] - The top ten institutional investors account for 57.12% of the total shares, with a decrease of 1.07 percentage points compared to the previous quarter [1] Group 2 - In the public fund sector, two funds increased their holdings, while eleven funds decreased their holdings, with a total decrease of 1.31% [2] - A total of 214 new public funds were disclosed this period, indicating active market participation [2] - For social security funds, there was an increase in holdings from one fund, the National Social Security Fund 102 Portfolio, with an increase of 0.41% [2] - Foreign investment sentiment showed an increase in holdings from one foreign fund, Hong Kong Central Clearing Limited, with an increase of 0.33% [2]

打包市场龙头，抢反弹就买指数ETF>> 海大集团（002311）涨幅扩大至7.76%，畜牧ETF(159867)持有该股票10.86%，当前涨幅为0.48%，最新 价创60日新高，成交额1.16亿元，较昨日此时放量303.22%，3日融资净流入，净流入495.03万，近1月 份额减少6600万份。 ...

External Logic - The recent increase in tariffs by the US has led to a significant rise in agricultural prices, with the agricultural sector acting as a countermeasure to the tariffs [1][3] - The Wind反关税指数 surged by 11% on April 8, 2025, with the agriculture, forestry, animal husbandry, and fishery sectors making up the majority of this index [1] Internal Logic - The supply-demand dynamics in the livestock sector are expected to improve, particularly due to the ongoing "pig cycle," which indicates a cyclical change in pig prices [5] - As of February 2025, the number of breeding sows in China has decreased by nearly 7% since early 2023, indicating a trend of capacity reduction [5][7] Policy Perspective - The "Accelerating the Construction of an Agricultural Power Plan (2024-2035)" outlines a comprehensive strategy to enhance food security and modernize agricultural practices, with significant progress expected by 2027 [7] Profitability - The recovery in pig prices has positively impacted the financial performance of livestock companies, with牧原股份 reporting a revenue of 137.947 billion yuan in 2024, a year-on-year increase of 24.43% [8] - Other companies in the sector, such as温氏股份 and巨星农牧, have also seen substantial growth in net profits [9] Institutional Insights - According to开源证券, the tariff escalation is expected to benefit domestic agricultural prices, particularly pig prices, due to rising raw material costs and the impact of imported meat [11] - Long江证券 suggests that while the industry may be entering a phase of declining prices due to increased supply, the current low valuations present investment opportunities [11] ETF Overview - The畜牧养殖ETF (516670) closely tracks the中证畜牧养殖指数, which covers over 60% of the pig farming industry chain, including upstream and downstream components such as vaccines and feed [11]

登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：000735 证券简称：罗牛山 公告编号：2025-005 罗牛山股份有限公司 2025年3月畜牧行业销售简报 二、风险提示 （一）上述披露仅包含公司生猪养殖业务销售情况，不含其它业务。 （二）生猪市场价格的大幅波动（下降或上升），都可能会对公司的经营业绩产生重大影响，敬请广大 投资者审慎决策，注意投资风险。 （三）生猪市场价格变动的风险是整个生猪生产行业的系统风险，对任何一家生猪生产者来说，都是客 观存在的、不可控制的外部风险。 本公司及董事会全体成员保证公告内容的真实、准确、完整，没有虚假记载、误导性陈述或重大遗漏。 一、2025年3月份生猪销售情况 公司2025年3月销售生猪5.45万头，环比增长10.90%，同比下降26.56%；销售收入10,901.66万元，环比 增长8.26%，同比下降8.97%。 2025年1-3月，公司累计销售生猪14.29万头，同比下降25.51%；累计销售收入29,222.74万元，同比下降 4.14%。 上述数据未经审计，与定期报告披露的数据可能存在差异，因此上述数据仅作为阶段性数据供投资者参 考。 三、其他提 ...

Group 1 - The China Livestock Breeding Index (930707) has seen a strong increase of 2.15%, with stocks such as Xiangjia Co., Ltd. (002982) hitting the daily limit, and other stocks like Mido Li (300381) and Blue Biological (603739) also rising significantly [1] - The Livestock ETF (159867) rose by 2.07%, with a trading volume reaching 16.42 million yuan, indicating strong market interest [1] - The current price-to-earnings ratio (PE-TTM) of the Livestock ETF is 19.19, which is at a historical low, being below 98.21% of the time over the past year [1] Group 2 - As of March 31, 2025, the top ten weighted stocks in the China Livestock Breeding Index account for 69.05% of the index, with major companies including Haida Group (002311) and Wens Foodstuffs Group (300498) [2] - New Hope reported a significant increase in revenue for the fiscal year 2024, achieving approximately 103.06 billion yuan in total revenue and a net profit of about 474 million yuan, marking a year-on-year growth of 90.05% [1]