Group 1 - The core viewpoint indicates that soybean meal prices are steadily rising to 3096.86 yuan/ton, supported by active terminal purchases and adjustments in South American production expectations [1] - In the pig farming sector, the price of commercial pigs has slightly increased to 13.76 yuan/kg, with the bottom of the piglet production cycle becoming clearer, suggesting a potential long-term profitability uptrend for the industry [1] - The price of white feather broilers is fluctuating at a high level of 7.2 yuan/kg, while chick prices surged by 14.38% to 3.58 yuan/chick, driven by increased restocking sentiment and reduced supply of breeding chickens [1] Group 2 - Natural rubber futures prices have risen by 1.81% to 15780 yuan/ton, with ongoing inventory depletion [1] - The trend of rising grain prices has been established, with the fundamentals of planting and seed industry continuing to improve [1] - The Livestock ETF (159865) tracks the China Securities Livestock Index (930707), which selects listed companies involved in livestock farming, feed processing, and veterinary drug production to reflect the overall performance of related securities [1]

Group 1 - The company provides a guarantee of up to RMB 0.52 billion for its subsidiary Zhongmu Muyuan (Henan) Biopharmaceutical Co., Ltd, which is not an affiliated entity [2][10] - The total amount of guarantees provided by the company to its subsidiaries is RMB 3.3741 billion, accounting for 6.13% of the audited net assets as of the end of 2024 [13] - The guarantee is a renewal of a previous guarantee and is necessary for the funding of project construction, ensuring the smooth implementation of the project [11][12] Group 2 - The internal decision-making process for the guarantee has been approved by more than two-thirds of the board members during a meeting held on April 22, 2025 [7][12] - The subsidiary Zhongmu Muyuan was established on May 23, 2022, with a registered capital of RMB 120 million and operates in the veterinary medicine sector [8][9] - The guarantee will cover the principal, interest, penalties, and all costs related to the creditor's rights realization, with the company bearing 52% of the guarantee responsibility [10]