截至目前，公司尚未缴纳上述税款。公司拟就海口市税务局不予受理行政复议申请的决定，依法向人民 法院提起行政诉讼，积极通过法律途径解决争议，切实履行对股东和公司的责任。 格隆汇1月9日丨罗牛山(000735.SZ)公布，1、国家税务总局海口市美兰区税务局此前向公司送达《税务 事项通知书》（海口美兰税局通[2025]1号），核定公司在海南省农村商业银行改制重组过程中的股权 处置事宜应补缴企业所得税40,540,739.00元。2、公司对税务机关认定的缴税事项有异议，认为上述股 权处置涉税事项符合免征企业所得税优惠政策，不应补缴税款。因与税务机关就此项税务处理存在争 议，因此公司在办理了纳税担保手续后于2025年12月17日向海口市税务局申请行政复议，请求撤销上述 《税务事项通知书》。3、日前，公司收到海口市税务局出具《不予受理行政复议申请决定书》（海税 复不受字[2025]10号）。 ...

商务大数据显示，市场供应充足，2025年12月29日至2026年1月4日，全国36个大中城市猪肉零售价格环 比下降0.2%。中部地区猪肉价格降幅明显，其中郑州、武汉分别下降4.6%和3.6%。 ...

Group 1 - The Central Meteorological Administration issued a blue warning for strong winds, predicting 5-6 level northwesterly winds in several regions including Inner Mongolia and North China from January 9 to January 10 [1] - In specific areas of Inner Mongolia and northern Shanxi, winds may reach 7 levels with gusts of 8-9 levels, and in high-altitude areas of North China, gusts could exceed 10 levels [1] - The Bohai Sea, Yellow Sea, and Taiwan Strait are expected to experience 7-8 level winds with gusts up to 9 levels, with some areas in the Bohai Sea reaching 9 levels and gusts of 10 levels [1] Group 2 - In Gansu, temperatures have dropped by 4-8℃, with minimum temperatures falling below -10℃, prompting agricultural technicians to guide farmers on frost protection for crops and livestock [2] - Agricultural technicians are focusing on key aspects such as temperature and humidity control, light management, and pest control in greenhouses to ensure stable crop production during low temperatures [5] - Livestock departments in Zhangye are preparing materials and promoting practical techniques to ensure livestock remain warm during winter, including reinforcing shelters and maintaining equipment [7]

Core Viewpoint - Shennong Group reported significant growth in its pig farming business for the year 2025, indicating strong production performance and effective piglet cultivation [1] Group 1: Sales Performance - In 2025, Shennong Group sold a total of 3.0742 million pigs, representing a year-on-year increase of 35.34% [1] - The sales revenue for the year reached 4.729 billion yuan, which is a 5.21% increase compared to the previous year [1] Group 2: Monthly Performance - In December 2025, the sales volume showed a remarkable year-on-year growth of 48.51%, indicating an acceleration in sales performance [1] - The continuous growth in pig sales and revenue reflects the company's strong profitability resilience [1]

在供应来源方面，乌拉圭已确认将作为主要供货国，为阿提供所需数量的活羊，用于2026年宰牲节市 场。 相关实施工作已交由农业、农村发展与渔业部门负责推进，具体程序将尽快启动。该安排被视为节日性 民生保供与价格调控措施的一部分。此次决策延续了上一年度的政策实践。2025年宰牲节期间，阿首次 实施同等规模的活羊进口，在一定程度上缓解了市场紧张局面。 据阿尔及利亚媒体Algerie3601月7日报道，2026年宰牲节临近之际，总统特本已指示通过进口方式向国 内市场投放100万只活羊，以缓解节日期间肉羊市场供需压力，并稳定市场预期。 ...

Core Insights - The recent increase in pork prices in Shandong Province is attributed to a decline in the number of pigs being sold and a rise in demand due to the New Year holiday [1] - The average price of fat pigs in the first week of the new year was 12.57 yuan per kilogram, a year-on-year decrease of 21.97% but a month-on-month increase of 6.44% [1] - The average price of pork was 22.38 yuan per kilogram, showing a year-on-year decrease of 20.30% but a month-on-month recovery of 3.85% [1] Supply and Demand Dynamics - The narrowing of industry losses is linked to the rising prices of fat pigs and increased enthusiasm among farmers to replenish their herds, leading to a rise in demand for piglets [1] - The average price of piglets is currently 21.65 yuan per kilogram, down 31.23% year-on-year but up 1.17% month-on-month [1] - The main factors influencing the recent recovery in pork prices include the decline in pig sales and increased demand during the New Year holiday [1] Market Outlook - The market is expected to maintain a stable yet slightly declining trend in pork prices, with overall fluctuations remaining narrow [1] - Supply-side pressures include excess production capacity and concentrated sales of pigs, which may limit the upward momentum of pork prices [2] - The demand for pork is expected to weaken post-New Year, with a reduction in orders from slaughterhouses and a slower sales pace for fresh pork [2]

Report Industry Investment Ratings - Pig: Neutral [3] - Egg: Cautiously Bearish [6] Core Views - The overall market sentiment is stable, with an expected increase in pig slaughter in the middle of the month. The price of pigs is mainly stable with narrow adjustments in some areas, and the pre - Spring Festival stocking sentiment may support the pig price. The consumption boost from southern pickling demand is declining. Attention should be paid to the slaughter situation of farmers in the middle of the month [2] - The spot price of eggs has risen slightly, and the growth rate has narrowed. The pressure on egg - poultry inventory has continued to decline, but the absolute quantity is still high. The recent price increase is mainly supported by downstream bottom - fishing and pre - Spring Festival bullish stocking sentiment. Attention should be paid to its sustainability [5] Summary by Related Catalogs Pig Market News and Important Data - Futures: The closing price of the pig 2603 contract yesterday was 11,720 yuan/ton, a change of - 65.00 yuan/ton from the previous trading day, a decrease of 0.55% [1] - Spot: The price of external ternary pigs in Henan was 12.85 yuan/kg, a change of - 0.02 yuan/kg from the previous trading day; in Jiangsu, it was 13.19 yuan/kg, a change of + 0.01 yuan/kg; in Sichuan, it was 12.98 yuan/kg, a change of + 0.10 yuan/kg [1] - Agricultural product wholesale prices: On January 8, the "Agricultural Product Wholesale Price 200 Index" was 128.94, down 0.17 points from the previous day. The "Vegetable Basket" product wholesale price index was 131.56, down 0.19 points. The average wholesale price of pork was 17.89 yuan/kg, down 0.3%; beef was 65.96 yuan/kg, down 0.3%; mutton was 62.84 yuan/kg, down 0.7%; eggs were 7.58 yuan/kg, up 0.9%; white - striped chicken was 17.85 yuan/kg, up 0.6% [1] Market Analysis - The national pig price is mainly stable with narrow adjustments in some areas. The price in the north has declined, while the price in the east is relatively the highest in the country. The slaughter of breeding enterprises has increased, and there is still a certain bullish expectation. After the price of large pigs in the north declined, the slaughter of small farmers has increased. The pickling demand in the south is gradually ending, and the consumption boost has continued to decline recently. The impact of the epidemic has decreased after the price increase. The pre - Spring Festival stocking sentiment may support the pig price, and the price may be relatively resistant to decline. Attention should be paid to the slaughter situation of farmers in the middle of the month [2] Strategy - Neutral [3] Egg Market News and Important Data - Futures: The closing price of the egg 2603 contract yesterday was 3009 yuan/500 kg, a change of - 2.00 yuan from the previous trading day, a decrease of 0.07% [3] - Spot: The egg spot price in Liaoning was 3.07 yuan/jin, a change of + 0.07 yuan from the previous trading day; in Shandong, it was 3.30 yuan/jin, unchanged; in Hebei, it was 2.96 yuan/jin, unchanged [3] - Inventory: On January 8, 2026, the national production - link inventory was 0.84 days, unchanged from the previous day, and the circulation - link inventory was 1 day, also unchanged [4] Market Analysis - The spot price of eggs has risen slightly, and the growth rate has narrowed compared with the previous few days. The production areas are relatively strong, and the sales areas mainly follow the increase. After the price of culled old chickens has risen recently, the willingness of farmers to cull has loosened compared with the previous period, but there has not been a large - scale centralized culling. The pressure on egg - poultry inventory has continued to decline, but the absolute quantity is still high. After the egg price has risen for several consecutive days, the consumption support has begun to slow down. The recent price increase is mainly supported by downstream bottom - fishing and pre - Spring Festival bullish stocking sentiment. Attention should be paid to its sustainability [5] Strategy - Cautiously Bearish [6]

Core Viewpoint - The company, Juxing Agriculture and Animal Husbandry, has revised its plan for a private placement of shares, significantly reducing the total fundraising amount and adjusting the intended use of the funds [1] Fundraising Adjustment - The upper limit for the total amount of funds to be raised has been reduced from a maximum of 800 million yuan to 227 million yuan, representing a decrease of approximately 71.6% [1] - The maximum number of shares to be issued has also been adjusted but will still comply with the regulation of not exceeding 30% of the total share capital before issuance [1] Changes in Fund Utilization - The original plan included two major projects, the "Jiajiang Juxing Ganjing Breeding Farm Construction Project" and the "Yanbian Juxing New Min Smart Breeding Park," which have now been canceled [1] - Only the "Chongzhou Linxiu Boar Station Construction Project" will be retained and categorized under a newly established boar station construction project [1] - The amount originally planned for supplementing working capital for physical construction projects has been drastically reduced from approximately 175 million yuan to about 7.86 million yuan, decreasing its proportion of the total fundraising from 21.82% to 3.46% [1] Focus of Fundraising - The revised fundraising will primarily focus on the construction of the boar station, establishment of a breeding technology research base, digital intelligence construction, and a small amount for working capital [1] Reason for Adjustment - The company stated that the adjustments were made in accordance with relevant laws and regulations, as well as based on the company's actual situation [1]

1. Report Industry and Date - Report industry is the pig industry, and it is a daily report [1] - Report date is January 9, 2026 [2] 2. Key Points of Each Section 2.1 Market Review and Operation Suggestions - Futures: On the 8th, the main 2603 contract of live pigs opened flat, then rose and fell in shock, closing with a negative line. The highest was 11,880 yuan/ton, the lowest was 11,685 yuan/ton, and the closing price was 11,720 yuan/ton, down 0.80% from the previous day. The total index position increased by 1,216 lots to 364,327 lots [6] - Spot: On the 8th, the national average price of ternary pigs was 12.54 yuan/kg, down 0.01 yuan/kg from the previous day [6] - Supply: In the long - term, pig slaughter is expected to maintain a slight increase until the first half of next year. The enthusiasm for secondary fattening before the festival has increased, and the utilization rate of secondary fattening pens has slightly increased. The slaughter of breeding enterprises in January may continue to increase slightly, and currently, the breeding side is slaughtering normally [7] - Demand: After the price increase, secondary fattening has decreased, with rolling replenishment demand. Post - festival consumption is slowly recovering, and there is still room for demand for curing and sausage - making. Terminal consumer consumption remains high, but the orders of slaughtering enterprises are average after the festival. The operating rate and slaughter volume of slaughtering enterprises are slowly increasing. On January 8th, the slaughter volume of sample slaughtering enterprises was 189,600 heads, 1,500 heads less than the previous day, 11,000 heads less than the previous week, and 7,000 heads more than the previous month [7] - Overall: Spot prices are mainly fluctuating due to slow - recovering post - festival consumption and relatively loose supply. Futures prices are under pressure due to the expected slight increase in pig supply, strong pre - Spring Festival demand elasticity, and relatively high secondary fattening pressure. However, the previous more severe northern epidemic in the same period continues to boost the 03 contract. Currently, the epidemic shows no signs of continued spread and only occurs sporadically seasonally [7] 2.2 Industry News - From January 4th, the proportion of small - weight pigs (below 90 kg) in the overall slaughter was 5.44%, down 0.07% from the previous week. Due to the seasonal sporadic occurrence of the epidemic, the slaughter volume of small - weight pigs in many places has decreased, and there is no sign of the epidemic spreading [8][10] 2.3 Data Overview - On January 4th, the average market sales price of 15 - kg piglets was 319 yuan/head, up 12 yuan/head from the previous week [17] - As of January 4th, the average profit per self - breeding and self - raising pig was - 28.3 yuan, an increase of 96 yuan per week; the average profit per pig raised by purchasing piglets was - 160.8 yuan, an increase of 95 yuan per week [17] - As of the week of January 4th, the average slaughter weight of live pigs was 128.66 kg, down 1.04 kg from the previous week (a week - on - week decrease of 0.80%), down 1.16 kg from the previous month (a month - on - month decrease of 0.89%), and up 2.6 kg from the same period last year (a year - on - year increase of 2.06%) [17]

Core Viewpoint - The A-share market in 2025 shows a positive trend, with the Shanghai Composite Index returning to 4000 points and nearly 80% of listed companies experiencing stock price increases, supported by a total transaction volume reaching a historical record of 420 trillion yuan [1] Group 1: Buybacks and Increases - In 2025, a total of 1494 listed companies in the A-share market conducted buybacks, with a total amount of 142.736 billion yuan. Additionally, 534 companies announced shareholding increases, with a maximum proposed increase amounting to 83.922 billion yuan [1][4] - Among the companies that conducted buybacks, 293 had buyback amounts exceeding 100 million yuan, with 15 companies exceeding 1 billion yuan, and one company surpassing 10 billion yuan [4] - Midea Group led the buybacks with a total amount of 11.545 billion yuan, marking the only company with buybacks exceeding 10 billion yuan in 2025 [5] Group 2: Key Players in Buybacks - Guizhou Moutai followed Midea Group with a total buyback amount of 6 billion yuan, marking its first-ever cancellation-style buyback since its listing [5][6] - Other notable companies include CATL, which planned to buy back between 4 billion and 8 billion yuan, and several companies like XCMG, Muyuan Foods, and COSCO Shipping Holdings, which also had buybacks exceeding 2 billion yuan [6] Group 3: Support from Special Loans - The special loans for buybacks and increases provided significant support, with a total of 789 companies or major shareholders obtaining commitments for buyback and increase loans, amounting to 160.62 billion yuan [8] - The People's Bank of China optimized the policy for stock buyback and increase loans, reducing the self-funding ratio requirement from 30% to 10% and extending the maximum loan term from 1 year to 3 years [8][9] - The interest rate for these loans is approximately 2.25%, providing a low-cost funding source for companies to effectively manage their market value [9] Group 4: Recommendations for Future Actions - Suggestions for banks to enhance buyback and increase loans include expanding coverage to more quality enterprises, diversifying funding uses, and improving policy precision and service efficiency [10]