证券之星消息，根据天眼查APP于11月2日公布的信息整理，中农种源（深圳）科技有限公司A轮融 资，融资额亿级人民币，参与投资的机构包括松禾资本，三泽创投。 | 公布日 | 投资方 | 交易金额 | 融资轮次 | | --- | --- | --- | --- | | 2025-11-02 | 松禾资本 | 亿级人民币 | A轮 | | | 三泽创投 | | | | 2023-08-10 | 联想创投 | 未披露 | Pre-A轮 | | 2023-02-08 | HongShan红杉中国 | 千万级人民币 | 天使轮 | | | 未来光锥 | | | | 2022-10-20 | 中农投控 | 未披露 | 出资设立 | 中农种源依托中国农业科学院深圳农业基因组研究所成立，致力于猪前沿育种技术研发和育种材料创 制，主要关注从事猪基因组与育种、猪基因工程、实验小型猪及医学模型等方面研究。目前，团队开发 了抗蓝耳病、抗传染性胃肠炎、高瘦肉率、抗三种重大疫病等多个基因编辑育种新材料，并完成相关专 利布局。此外，公司研发的三个模型猪品系已获得中国实验动物新资源证书，是首次通过鉴定的基因编 辑猪疾病模型新品系。 数据来源 ...

Core Viewpoint - The article highlights the emergence of agricultural cooperatives in Gansu Province, specifically in the Xifeng District, which are driving the development of rural industries and improving the livelihoods of local farmers through collaborative efforts and modern agricultural practices [1][4]. Group 1: Cooperative Development - The Yao Hui Livestock Cooperative currently has a cattle stock of 800, focusing on the Simmental breed, known for its short growth cycle and high meat yield [2]. - The cooperative was established in 2013 and has grown from a few dozen cattle to over 1,000 through a model that integrates cooperatives, bases, and farmers, benefiting over 200 local households [2][4]. - The cooperative expects to produce 1,200 to 1,300 cattle this year, generating a revenue of 17 million to 18 million yuan, while also providing employment opportunities for local villagers [2]. Group 2: Agricultural Practices - The cooperative employs a feed ratio strategy, mixing corn, soybean meal, and other nutrients to ensure the cattle's diet is balanced [2]. - The cooperative has also adopted a circular farming model by using livestock manure to cultivate over 1,000 acres of corn, which serves as both feed and a cost-saving measure [2]. Group 3: Broader Impact on Local Agriculture - The Xifeng District has been actively promoting new agricultural entities, encouraging the establishment of cooperatives that focus on various sectors such as fruits, livestock, and vegetables [4]. - The Wanrunyuan Cooperative has 276 greenhouses and supports 46 farmers in growing specialty fruits and vegetables, with an average income exceeding 20,000 yuan per greenhouse [5]. - The district has a total of 1,295 agricultural cooperatives, benefiting approximately 27,800 farmers and creating 157 demonstration cooperatives, which have transformed the rural economy from fragmented to concentrated [4][8].

Core Viewpoint - The strategic cooperation between Wens Food Group and Huawei aims to enhance the digital transformation of the livestock industry through IT and BT integration, establishing a digital foundation for smart farming and promoting technological innovation and industry upgrades [1][3]. Group 1: Strategic Cooperation Details - Wens Food Group and Huawei signed a strategic cooperation framework agreement focusing on several key areas, including the construction and operation of "Wens Cloud," modern information infrastructure, digital energy, and joint innovation of hardware and software [4][5][6][7]. - The partnership marks a deeper collaboration phase, with Wens Food Group aiming to leverage Huawei's advanced digital technologies to enhance its operations and contribute to the digital transformation of the Chinese agricultural and livestock industry [3][4]. Group 2: Technological Integration and Innovation - The cooperation will involve the joint construction and operation of "Wens Cloud," utilizing Huawei's AI capabilities, big data, and disaster recovery technologies to create a digital foundation for smart farming [4]. - Both companies will collaborate on building a modern information infrastructure that is technologically advanced, unified in operation, and capable of continuous iteration and quick service [5]. - Wens Food Group and Huawei will work together to develop a reliable, green, and intelligent data center infrastructure to promote low-carbon development in the livestock industry [6]. - The partnership will also focus on creating innovative digital solutions, integrating IT and BT, and developing AI models that cover breeding, nutrition, disease management, and veterinary services [7].

Core Insights - Agricultural Bank of China Gansu Branch has significantly increased its financial support for rural revitalization and the real economy, with a total loan balance of 281 billion yuan as of September, marking an increase of 23.5 billion yuan and a growth rate of 9.14% compared to the beginning of the year [1] Group 1: Rural Revitalization - The bank prioritizes rural revitalization, focusing on resource allocation and service mechanisms to enhance agricultural development [2] - In Gulang County, the bank provided a loan of 10 million yuan to a dairy farm using live cattle as collateral, helping the farm grow into a leading enterprise that supports local farmers [2] - The bank has supported over 90% of dairy farming enterprises in Gulang County, with total loans amounting to 228 million yuan, benefiting 165 households [2] Group 2: Agricultural Financing - The bank issued 65.4 billion yuan in county loans in the first three quarters, an increase of 10.8 billion yuan year-on-year, with a total balance of 149.5 billion yuan [4] - Loans to farmers reached 24.3 billion yuan, with a balance of 36.4 billion yuan, marking the highest growth rate for the same period in history [4] - The bank's loans in key agricultural sectors, such as grain and seed industries, have seen significant growth, with a 45.68% increase in grain loans and a substantial rise in seed loans [4] Group 3: Support for High-Tech and Green Projects - The bank has actively supported major projects, including a solar energy project with a total loan of 717 million yuan, which contributes to clean energy output [5] - Loans to high-tech and specialized enterprises have been increased, with a focus on supporting the recycling of lithium-ion batteries for the new energy sector [6] - The bank's infrastructure loans reached 92.9 billion yuan, with a significant focus on green credit, which totaled 51.5 billion yuan [6] Group 4: Financial Services for the Public - The bank has implemented various financial services aimed at improving the quality of life for the elderly, including a smart community dining service that has served over 15,000 elderly residents [7] - The bank has launched measures to stimulate consumer spending, with personal consumption loans reaching 9.1 billion yuan in the first three quarters [7] - Following a natural disaster, the bank established a green channel for disaster relief, issuing 19.81 million yuan in loans for recovery efforts [8]

- The report tracks industry prosperity signals for sectors such as coal, livestock farming, steel, structural materials, and fuel refining based on recent industry operating indicators[9] - **Coal Industry Model**: The model estimates monthly revenue and profit growth rates for the coal industry based on changes in price factors and production capacity factors. The pricing mechanism is determined by the last price index of the previous month, which sets the sales price for the following month[10][14] - **Livestock Farming Factor**: The "outbound coefficient method" is used to calculate the supply-demand gap for pigs six months in advance. The formula is: $ \text{Outbound Coefficient} = \frac{\text{Single Quarter Pig Outbound}}{\text{Breeding Sow Inventory lag6m}} $ $ \text{6-month Potential Production Capacity} = \text{t-month Breeding Sow Inventory} \times (\text{t+6-month Last Year Outbound Coefficient}) $ $ \text{6-month Potential Pig Demand} = \text{t+6-month Last Year Single Quarter Pig Outbound} $ This method effectively identifies pig price upward cycles[15][16] - **Steel Industry Model**: Monthly profit growth and per-ton profit are predicted using a model that incorporates comprehensive steel prices and cost indicators such as iron ore, coke, pulverized coal, and scrap steel[18] - **Structural Materials and Construction Engineering Model**: Profit changes in the glass and cement manufacturing industries are tracked using price and cost indicators. Configuration signals are designed based on profitability changes. Manufacturing prosperity and real estate sales data are analyzed to assess the likelihood of infrastructure investment expectations[25] - **Fuel Refining and Oil Services Model**: Industry profit growth and cracking spreads are calculated using changes in fuel oil prices and crude oil prices. Configuration signals are designed based on oil prices, cracking spreads, and new drilling changes[27] Backtesting Results - **Coal Industry**: Profit growth is predicted to continue declining in November 2025 due to coal prices being lower than the previous year[14] - **Livestock Farming Factor**: The breeding sow inventory at the end of September 2025 was 40.35 million heads, slightly down month-on-month. The potential pig supply for Q1 2026 is estimated at 19.347 million heads, with demand forecasted at 19.476 million heads, indicating a slightly tight supply-demand balance[17] - **Steel Industry**: Profit growth for October 2025 is predicted to be negative. The rolling 12-month PMI average decreased month-on-month, maintaining a neutral configuration view for the steel industry[23] - **Structural Materials and Construction Engineering**: Flat glass profitability continued to grow year-on-year in October 2025, maintaining a positive signal for the glass industry. Cement industry profits turned negative year-on-year in October 2025, with no positive signals from new housing starts, maintaining a neutral view. Manufacturing PMI and real estate sales data suggest potential infrastructure investment expectations, leading to a positive signal for the construction decoration industry[26] - **Fuel Refining and Oil Services**: Fuel refining industry profits are predicted to grow slightly year-on-year in October 2025. Oil prices were lower than the previous year, maintaining a neutral view for the fuel refining and oil services industries[34][35]

Group 1 - The core viewpoint of the articles highlights a significant rebound in pork prices, leading to a collective rise in pork-related stocks, with notable increases in companies like Luoniushan and Muyuan Foods [1][2] - The livestock farming ETF (516670) experienced a 1.12% increase, with a substantial net inflow of 390 million yuan over the past ten trading days, indicating strong investor interest [1] - According to the Ministry of Agriculture and Rural Affairs, the average price of live pigs increased by 6.1% from 11.8 yuan/kg to 12.52 yuan/kg within a week, and the weekly average price rose by 7.3% from 11.5 yuan/kg to 12.34 yuan/kg [1] Group 2 - The reduction in losses for pig farming is evident, with the profit from purchased piglets and self-breeding pigs narrowing to -89.33 yuan/head and -179.72 yuan/head respectively, indicating an improvement from the previous week [2] - The industry is witnessing a proactive reduction in production capacity despite the narrowing losses, with a focus on enhancing quality and efficiency in the long term, suggesting a potential upward shift in domestic pig price levels [2] - The livestock farming index covers the entire pig farming industry chain, with over 60% of the index weight attributed to pig-related stocks, and nearly 40% related to upstream and downstream sectors such as vaccines and feed [2]

Core Insights - The article highlights the journey of An Hailong, the chairman of Xiangchu Agricultural Technology Co., Ltd., who transitioned from a mechanical designer to an agricultural entrepreneur, emphasizing the importance of agricultural development for rural revitalization [2][3]. Company Overview - Xiangchu Agricultural Technology has established a comprehensive industrial chain that includes feed production, large-scale sheep farming, slaughter processing, and supply chain sales, contributing to steady annual revenue growth [5]. - The company aims to achieve a target of 80,000 sheep slaughtered and a revenue of 100 million yuan by 2027, alongside developing a circular agriculture model [5]. Business Development - An Hailong initially started with sheep farming and later expanded into feed processing due to local supply challenges, eventually growing a customer base of over 1,000 across central and southern provinces [4]. - The company faced significant challenges, including natural disasters and market fluctuations, but adapted by extending its operations into the downstream supply chain, including slaughtering and restaurant services [4]. Future Plans - The company plans to build four breeding areas, each capable of producing 20,000 sheep annually, with a projected annual output of 80,000 sheep by the end of 2027 [5]. - A comprehensive agricultural model will be developed, integrating fruit tree cultivation, ecological fish ponds, and organic fertilizer processing, creating a closed-loop system [5]. Technological Innovation - The company collaborates with Huazhong Agricultural University and Hubei Academy of Agricultural Sciences to enhance livestock survival rates, achieving a 98% survival rate, which is 12 percentage points higher than traditional methods [6]. - Plans include establishing a technology training program to support small-scale farmers in transitioning to standardized and large-scale operations [6].

Core Insights - The integration of solar energy and ecological farming is being effectively implemented in Weifang City, Shandong Province, with significant economic benefits reported by local farms [1][2][3] Group 1: Solar Energy and Ecological Farming - The Ligan Breeding Farm in Weifang has installed a distributed solar power system with a capacity of 10 megawatts, generating over 4 million yuan in revenue from solar energy while achieving a net income of over 700,000 yuan from duck farming in 2024 [1] - The "Agriculture-Solar Complementarity" model is being adopted in Changle County, with five solar power stations established, totaling nearly 60 megawatts and generating over 28 million yuan annually [2] - The Huating Youran Livestock Company utilizes its dairy barn roof space to install an 11-megawatt solar power system, achieving a monthly electricity savings of approximately 400,000 yuan while maintaining optimal temperature conditions for the cows [2] Group 2: Solar Capacity and Energy Transition - As of August 2023, Weifang City has a total installed solar capacity of 12.579 million kilowatts, significantly contributing to the local green and low-carbon energy transition [3]

Group 1: Agricultural Production - The national autumn grain harvest has surpassed 85%, indicating a potential for another bumper harvest this year [1] - Summer grain production reached 299.48 million tons, with increases in area, yield, and total production [1] - Early rice production increased by 1.2% to 57.03 million tons compared to the previous year [1] - The planting area for high-yield crops like corn has increased, and soybean planting is expected to remain above 15 million acres for the fourth consecutive year [1] Group 2: Market Supply and Prices - The supply of "vegetable basket" products is abundant, with meat production (pork, beef, lamb, poultry) reaching 73.12 million tons, a year-on-year increase of 3.8% [1] - Milk production reached 2.921 million tons, up 0.7%, and egg production was 2.646 million tons, up 0.2% [1] - The supply of vegetables, fruits, and aquatic products is rich, with stable prices and a 97.6% compliance rate in agricultural product quality safety monitoring [1] Group 3: Rural Economy and Investment - Rural residents' per capita disposable income reached 17,686 yuan, a real increase of 6% year-on-year, while per capita consumption expenditure grew by 5.8% [2] - Fixed asset investment in the primary industry reached 734.4 billion yuan, a year-on-year increase of 4.6%, outpacing the national average growth rate [2] - The trade deficit in agricultural products has been narrowing, with a total trade volume of 230.06 billion USD in the first three quarters [2] Group 4: Poverty Alleviation and Employment - Over 7 million individuals have been identified for assistance to prevent poverty, with targeted support measures implemented [2] - More than 33 million people from poverty-stricken backgrounds have found employment, exceeding annual targets [2] Group 5: Rural Development and Reforms - The rural construction project library added 324,000 new projects, with investment funds of 162.39 billion yuan allocated [3] - The second round of land contract extensions is being piloted, and reforms in rural collective property rights are progressing [3] - The number of farmer cooperatives has exceeded 2 million, and nearly 4 million family farms have been established [3]

Core Insights - New Hope reported a nearly fourfold increase in net profit for the first three quarters of the year, but a significant decline in Q3 net profit [2] - The company achieved a revenue of 80.504 billion yuan, a year-on-year increase of 4.27%, with a net profit attributable to shareholders of 760 million yuan, up 395.89% [2] - In Q3, revenue was 28.879 billion yuan, a 4.51% increase year-on-year, but net profit dropped to 5.1255 million yuan, a 99.63% decline [2] Revenue and Profit Analysis - The substantial growth in net profit for the first three quarters was primarily due to higher sales prices of live pigs compared to the previous year, improved breeding costs, reduced losses in the pig industry, and increased profits from the feed business [2] - The feed business significantly contributed to the profit growth, with a reported net profit of 600 million yuan in the first half of the year, averaging 100 million yuan per month [2] International Operations - The company’s overseas feed business has been performing well, with over 3 million tons sold in the first half of the year, an 18% year-on-year increase [2] - The average profit from overseas feed exceeded 180 yuan per ton, with poultry feed averaging nearly 140 yuan per ton and pig feed over 300 yuan per ton, significantly higher than domestic profits [2] - New Hope plans to add 3 to 4 million tons of overseas production capacity in the next 3-5 years [2] Q3 Performance and Market Conditions - In Q3, the company sold 4.0345 million live pigs, a nearly 10% year-on-year increase, but the sales price fell sharply, reaching a year-low of 12.89 yuan per kilogram in September, down 5.92 yuan per kilogram from the previous year [3] - Q3 sales revenue from live pigs was 5.27 billion yuan [3] Future Outlook - The pig industry is expected to accelerate capacity reduction due to ongoing losses and policies aimed at reducing breeding sows and controlling weight [3] - Despite the anticipated industry changes, the short-term supply-demand imbalance is unlikely to be resolved quickly, and cost reduction remains crucial for companies to navigate the cycle [3] - New Hope has successfully reduced costs, achieving a target of 13 yuan per kilogram ahead of schedule, with September costs for normal operations dropping to the low 12 yuan range [3]