Group 1 - The core index of major consumer stocks in China has shown a positive trend, with notable increases in stocks such as COFCO Sugar and Guibao Pet [1] - The Consumer ETF Jiashi (512600) has experienced a recent increase of 0.29%, reflecting a broader positive sentiment in the consumer sector [1][3] - The Consumer ETF Jiashi has reached a new high in scale at 562 million yuan, with a significant increase in shares over the past week [3] Group 2 - The Consumer ETF Jiashi has seen a net inflow of 44.86 million yuan over the last 10 trading days, indicating strong investor interest [3] - The ETF has outperformed its benchmark with an annualized return of 8.21% over the past three months, ranking first among comparable funds [3] - The current price-to-earnings ratio (PE-TTM) of the index tracked by the ETF is 19.13, which is below 83.33% of the historical data over the past year, suggesting a low valuation [3] Group 3 - The index tracked by the Consumer ETF Jiashi includes leading consumer companies across various sectors, with a significant focus on the liquor industry, which accounts for 45% of the index [4] - Key stocks within the index include Yili, Kweichow Moutai, and Wuliangye, with varying weightings and recent performance [6] - The market has anticipated challenges in the liquor sector, but there is a belief that the sector presents long-term investment value, especially in stable and strong brand companies [6]

生猪周报. 生猪特刊 2025/08/10 咨询业务资格：沪证监许可【2012】1515号 研报作者：罗鑫海 Z0021565 审核：唐韵 Z0002422 北方市场周末猪价上涨，连日跌价后养殖端对低价抵触情绪较强，叠加周末放假，养殖公司出栏量减少，加之散户惜售，对北方市场价格起到向上支撑。周末南方 市场猪价有稳有涨，养殖端出栏量仍维持高位，市场供应压力仍偏大，导致周末猪价上涨动力不足。需求端维持疲软态势，猪肉产品走货平平，屠宰厂订单维持低 位。 生猪出栏均价：中国. source： Wind 元/千克 2021 2022 2023 2024 2025 01/01 03/01 05/01 07/01 09/01 11/01 20 30 40 生猪仓单数量季节性. source： Wind 手 2021 2022 2023 2024 2025 03/01 05/01 07/01 09/01 11/01 0 200 400 能繁存栏影响10月后生猪价格. source： Wind 万头 中国:存栏数:能繁母猪(领先10月) 生猪价格（2006年开始-）/月频(右轴) 15/12 17/12 19/12 21/12 ...

浙江省农业农村厅日前召开全省畜牧业创新发展大会，总结交流畜牧业创新发展的典型经验和模式，发 布该省畜牧业发展的八大创新模式，部署推动产业提质升级的具体举措。 据了解，浙江省在畜牧业发展上具备多项"先天禀赋"，为产业创新打下了基础。该省具有丰富的地方畜 禽遗传资源，拥有34个地方畜禽遗传资源保护品种，其中国家级品种占比近一半。同时，因其地处长三 角，毗邻上海、江苏等消费市场，经济发达，消费者对高品质、特色畜产品需求旺盛，更为"地瓜经 济""总部经济"等模式提供了市场支撑。此外，该省还可嫁接山区海岛县及中西部地区的资源优势。 当前，畜牧业面临占比下降、成本高企等现实问题，同时也存在消费升级、竞争激烈等外部挑战，以及 用地紧张、环保约束等内部制约，产业亟需转型提升。此次发布的畜牧业创新发展八大模式即绿色生态 模式、智慧养殖模式、牧旅融合模式、全链发展模式、村企合作模式、联农带农模式、地瓜经济模式、 品牌营销模式。从养殖技术的创新，到产业融合的尝试，代表了浙江省畜牧业发展的创新方向。 会议强调，浙江省各地要强化政策扶持，用好财政、金融等工具，重点支持绿色养殖、品牌建设等领 域。会议现场发布了畜牧业创新发展财政支持政策 ...

新华财经多哈8月11日电（记者汪强）盛夏时节，走进位于卡塔尔首都多哈的伊斯兰艺术博物馆，一场 关于饮食文化的展览正在举行。展厅内，来自中东和其他地区、不同时代的饮食器具陈列其间，香料气 息萦绕。 但展览的主题并不止于对饮食历史的回顾，更展示了卡塔尔这个"沙漠之国"的粮食安全之路。正如策展 人塔拉·德雅尔丹所说，展览还聚焦卡塔尔现代农业的可持续发展，特别是2017年断交风波以来，卡塔 尔为发展本国农业所作的努力。 虽然这场断交风波在2021年1月以和解告终，但它带给卡塔尔人的心理冲击至今未完全消散。许多卡塔 尔人还清晰记得当年超市货架商品被抢购一空的情景。这在一定程度上塑造了卡塔尔社会更为强烈的粮 食安全意识。 危机之下，卡塔尔一方面迅速拓展新的进口来源，扩大粮食战略储备，另一方面加快推进本土农业建 设，沙漠农场、奶牛养殖基地等原本看似难以实现的设想，逐步落地成为现实。本次展览中提及的埃纳 特·萨勒玛农场正是这一转型的体现。这处位于多哈郊区的综合农场如今不仅是粮食生产基地，也已成 为教育、体验和社区参与的重要平台。 民以食为天，在自然条件极为严酷的卡塔尔，"吃"从来不是一件轻松的事。卡塔尔地处热带沙漠气候 区， ...

Group 1 - The core viewpoint of the articles highlights the significant impact of the "pairing assistance" policy in Tibet, particularly in promoting economic and social development through targeted support and resource allocation [1][24] - The introduction of standardized practices and technological support in the white cashmere goat industry in the Ali region has led to improved quality and increased production, with an average cashmere yield increase of 90 grams per goat [5][9] - The establishment of a cashmere auction center in 2021 has successfully raised the market price of high-quality cashmere, with the highest transaction record reaching 1355 yuan per kilogram in 2023 [9] Group 2 - The development of the tourism industry in Dingri County, particularly around Mount Everest, has been enhanced through strategic planning and the introduction of quality accommodations, leading to an increase in tourist numbers to approximately 3000 daily [20][22] - The local community has benefited from training and support provided by the assistance teams, enabling them to improve service standards in hospitality and create new income opportunities through tourism [22][24] - The overall economic growth in Tibet has been notable, with projections indicating that the regional GDP could exceed 300 billion yuan this year, reflecting the effectiveness of the assistance programs in driving local development [24]

Report Industry Investment Rating No relevant content provided. Core Views - The Ih2509 contract for live pigs is in a phase of downward oscillation, with the price center expected to decline later. The supply of live pigs is increasing due to a persistently high inventory of breeding sows and improved production performance. Although demand is expected to seasonally increase in the second half of 2025, the impact of economic slowdown and changing consumer preferences may limit the boost. Therefore, the rebound space for pig prices is limited, and they will remain under pressure overall. However, due to policy disturbances, strong market sentiment, and the approaching peak season, short - term pig prices may be strong, but the upside space is limited under sufficient supply. It is recommended to wait for short - selling opportunities after the rebound. For industrial chain participants, breeding enterprises can sell futures for hedging to lock in sales prices, and food enterprises can purchase as needed and buy call options to control procurement costs while selling out - of - the - money put options to collect premiums [3]. - The jd2509 contract for eggs is also in a phase of downward oscillation, with the price center expected to decline. The inventory of laying hens is at a high level year - on - year, and supply pressure continues to weigh. Demand has seasonal changes within the year, but limited by the macro - economy and consumer preferences, the expected fluctuation range is limited. Considering cost and profit, the price of eggs is expected to remain at a low level. The demand for the 09 contract is in the declining phase after the peak season, and with high supply, there is insufficient support. It is recommended to short on rallies. For industrial chain participants, breeding enterprises can sell futures for hedging when egg prices are under pressure, and food enterprises can control procurement costs by buying call options and selling out - of - the - money put options [3]. Summary by Sections Live Pig Section - **Supply Analysis** - The inventory of breeding sows has been stable at around 40.5 million since June 2024, higher than the official normal level of 30 million, indicating persistent over - capacity. The supply in 2025 will be at a high level, and attention should be paid to the impact of the farmers' slaughter rhythm on short - term supply [14]. - The average slaughter weight has slightly decreased but remains high. With the approaching of the autumn and winter peak season, the price difference between fat and standard pigs may gradually increase, and farmers are expected to slow down the slaughter rhythm, so the weight is unlikely to decline significantly [15]. - **Demand Analysis** - Currently, demand is in the off - season, and the slaughter volume remains low. In addition to actual demand, secondary fattening and frozen product storage create short - term demand and provide support at low prices. Recently, most secondary fattening pigs are being sold, and attention should be paid to future changes in the secondary fattening rhythm [25]. - **Cost and Profit Analysis** - As of August 7, the breeding cost of large - scale farms using the self - breeding and self - raising model is 13.09 yuan/kg, and that of the purchased piglet model is 14.44 yuan/kg. Breeding enterprise profits are shrinking [35]. - The breeding capacity is relatively stable. Farmers are still cautious about the future market. Sow replenishment is mainly for replacement by large - scale farms, and the enthusiasm for purchasing piglets is average [36]. - **Policy Analysis** - The state's reserve purchase and release of pork regulate market supply and demand and ensure the stable operation of the live pig market. In the second - level early - warning range of excessive price decline, the National Development and Reform Commission will start the third batch of central pork reserve purchases this year [45]. - **Spread and Basis Analysis** - The report provides data on various spreads (such as 1 - 5 spread, 5 - 9 spread, etc.) and basis for live pigs, showing their changes compared to the previous week [8]. Egg Section - **Supply Analysis** - The supply of eggs is determined by the inventory of laying hens and the laying rate. Since the second half of 2024, the enthusiasm for replenishment has been high, so the number of newly - laid hens will be high until the third quarter of this year. Meanwhile, the number of culled hens is relatively limited, so the inventory of laying hens will remain at a relatively high level until the third quarter [64]. - In the short term, the laying rate is seasonally low, and the number of culled old hens has increased recently, but the overall supply is still abundant [65]. - Due to the weakening of feed prices, the breeding cost of eggs has decreased, currently around 3.2 - 3.3 yuan/jin [66]. - **Demand Analysis** - In the long - term, egg consumption is related to population structure, economic development, and consumer preferences, showing a steady growth trend in recent years. In the medium - and short - term, egg demand has obvious seasonality, with short - term peaks before traditional festivals. Currently, demand is seasonally rebounding, and food factories are starting to stock up [76]. - Although the improvement in supply and the rebound in demand support the stability of spot prices, the overall supply remains high, and the price of the JD2509 contract is expected to be under pressure as it is in the post - festival period [77]. - **Inventory Analysis** - Data on the inventory days of fresh eggs in the production and circulation links are provided, showing their changes over time [84]. - **Spread and Basis Analysis** - The report provides data on various spreads (such as 1 - 5 spread, 5 - 9 spread, etc.) and basis for eggs, showing their changes compared to the previous week [85].

Group 1 - The core viewpoint of the news is that Xinjian Western Animal Husbandry Co., Ltd. has experienced a significant decline in its financial performance, with a notable drop in revenue and net profit in the latest quarterly report [1] - As of August 11, 2025, the company's stock price closed at 12.15 yuan, down 1.06%, with a turnover rate of 14.52% and a trading volume of 306,900 hands, amounting to a transaction value of 376 million yuan [1] - The latest quarterly report shows total operating revenue of 187 million yuan, a year-on-year decrease of 20.87%, and a net profit attributable to shareholders of 9.81 million yuan, a year-on-year decrease of 129.95% [1] Group 2 - The company has a current ratio and quick ratio of 1.369, indicating a stable liquidity position, while the debt-to-asset ratio stands at 48.89% [1] - Xinjian Western Animal Husbandry Co., Ltd. was established in 2003 and primarily engages in the livestock industry, with a registered capital of 2.113 billion yuan and paid-in capital of 868.3 million yuan [1] - The company has made investments in 13 enterprises and participated in 37 bidding projects, holding 14 trademark registrations and 50 patents [2]

Group 1 - The core point of the article is that COFCO Joycome (01610.HK) reported its operational update for July 2025, highlighting significant figures in pig production and sales [1] Group 2 - In July 2025, COFCO Joycome's pig output reached 457,000 heads [1] - The average selling price of commercial pigs was 14.37 RMB per kilogram [1] - Fresh pork sales volume amounted to 26,400 tons [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的內容概不負責，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 容而引致的任何損失承擔任何責任。 （於開曼群島註冊成立的有限公司） （股份代號：01610） 自願公告 2025年7月運營快報 此乃中糧家佳康食品有限公司（「本公司」）作出的自願公告。 本公司董事會（「董事會」）謹此宣佈，本公司及其附屬公司（「本集團」）2025年7月主要運營 數據（未經審核）如下： | | 生豬出欄量（千頭） | | 商品大豬銷售均價 | 生鮮豬肉銷量 | 生鮮豬肉業務中 | | --- | --- | --- | --- | --- | --- | | | 當期值 | 本年累計 | （單位：人民幣元╱公斤） | （單位：千噸） | 1 品牌收入佔比(%) | | 2025年1月 | 450 | 450 | 15.41 | 25.5 | 29.72% | | 2025年2月 | 533 | 982 | 14.26 | 18.9 | 36.27% | | 2025年3月 | 480 | 1,462 | 14.40 | 2 ...

Group 1 - The import beef market has shown a significant rebound, with mainstream product prices increasing by approximately 200 yuan per ton, indicating a strong recovery trend [1] - The wholesale beef market has also experienced a price increase of 2 yuan over the past 10 days, leading to intense competition among slaughterhouses due to rising demand and tight supply [2] - Regional price disparities are evident, with beef prices in Beijing and Tianjin ranging from 55 to 64 yuan per kilogram, while prices in Shanghai and Jiangsu reach 66 to 110 yuan per kilogram, reflecting varying consumer demand and economic conditions [2] Group 2 - The price of live cattle has reached 12 to 15 yuan per pound (24 to 30 yuan per kilogram) as of August 6, with farmers holding back on sales due to rising prices, further tightening supply [3] - The domestic beef supply gap is widening due to high feed costs, which have increased by 8% year-on-year, leading to reduced cattle farming and lower stock levels [4] - The Ministry of Commerce has initiated an investigation into import beef safeguard measures, raising market expectations of potential import restrictions, prompting traders to stockpile beef [5] Group 3 - The regional market shows significant price differences, with the East China region becoming the core area for price increases, while North China maintains a more stable price trend [6] - The upcoming festive season is expected to boost demand, with chain restaurants increasing high-end beef purchases, contributing to price increases in the high-end market [5] - The outlook for the beef market suggests a search for a new supply-demand balance, with short-term price adjustments expected but limited declines, supported by strong consumer demand [7]