证券日报网讯一鸣食品（605179）11月25日在互动平台回答投资者提问时表示，公司与浙江大学合作建 设的相关乳品与奶牛研究项目正在稳步推进中，目前处于持续研发与验证阶段，已构建可量化的热应激 指标体系，可用于评估奶牛个体耐热水平并应用于遗传改良。该研究方向有望在奶源质量提升与供应链 稳定性方面发挥积极作用，并有望在未来成为公司在源头端构建核心竞争优势的重要方向。 ...

格隆汇11月25日丨一鸣食品(605179.SH)在投资者互动平台表示，公司与浙江大学合作建设的相关乳品 与奶牛研究项目正在稳步推进中，目前处于持续研发与验证阶段，已构建可量化的热应激指标体系，可 用于评估奶牛个体耐热水平并应用于遗传改良。该研究方向有望在奶源质量提升与供应链稳定性方面发 挥积极作用，并有望在未来成为公司在源头端构建核心竞争优势的重要方向。 （原标题：一鸣食品(605179.SH)：与浙江大学合作建设的相关乳品与奶牛研究项目正在稳步推进中， 目前处于持续研发与验证阶段） ...

根据中国海关数据显示：2025年10月中国乳品进口数量为18万吨，同比下降2.4%，进口金额为8.79亿美 元，同比增长4.5%。 近一年中国乳品进口情况统计图 上市企业：阳光乳业（001318），皇氏集团（002329），贝因美（002570），麦趣尔（002719），燕塘 乳业（002732），庄园牧场（002910），新乳业（002946），西部牧业（300106），品渥食品 （300892），熊猫乳品（300898），海融科技（300915），天润乳业（600419），三元股份 （600429），光明乳业（600597），妙可蓝多（600882），伊利股份（600887），一鸣食品 （605179），佳禾食品（605300），骑士乳业（832786） 相关报告：智研咨询发布的《2025-2031年中国乳制品行业市场调查研究及发展前景规划报告》 数据来源：中国海关，智研咨询整理 知前沿，问智研。智研咨询是中国一流产业咨询机构，十数年持续深耕产业研究领域，提供深度产业研 究报告、商业计划书、可行性研究报告及定制服务等一站式产业咨询服务。专业的角度、品质化的服 务、敏锐的市场洞察力，专注于提供完善的产业解决 ...

日前，一批进口的香水运抵海南，海口海关所属椰城海关关员在海免(海口)免税店有限公司仓库对该批 商品进行现场查验。"在严把质量安全的前提下，我们有针对性调整重点节点查验模式，最大限度提升 货物周转效率。"海口海关所属椰城海关查检科副科长刘婷婷介绍。 在海南各类进口消费品中，离岛免税商品一直占据重要地位，其中香水、化妆品更属于热销大类。海免 (海口)免税店有限公司物流部经理杨树军说，缩短通关时间，能够让企业及时为消费者提供心仪的产 品。 为满足企业高效通关需要，保障进口各类消费品及时到位，海口海关主动对接辖区重点进口企业，动态 掌握进口计划与业务诉求，"点对点"为企业提供通关指导，灵活运用"远程查验"等便利模式，实现快速 验放。同时，推行单证预审等前置服务，进一步压缩整体通关时间，切实为企业节约时间与运营成本， 助力进口消费品稳定供应。(完) 中新网海口11月21日电 (张绮崔丽)随着海南自贸港红利释放，海南企业消费品进口保持增势。据海口海 关21日统计，今年前10个月海南企业进口消费品257.7亿元，同比增长6.2%。其中，10月进口消费品 22.7亿元，同比增长4.9%。 （文章来源：中国新闻网） 受自贸港政 ...

前10个月，上海市"新三样"产品累计出口1314.3亿元，增长11.7%，特别是近6个月以来，出口增速均在 25%以上，增长动能强劲。绿色航运装备表现尤为亮眼，液货船出口274.6亿元，增长115%。此外，劳 动密集型产品也保持稳定增长，出口1645.7亿元，增长2.9%。此外，制造业生产活动保持稳定扩张，尤 其装备制造业和高技术制造业保持了较好的扩张势头。前10个月，上海市金属矿砂、未锻轧铜及铜材分 别进口1774.1亿、506.7亿元，增长8.6%、17.2%。高技术产品进口增速显著，半导体制造设备、电脑及 其零部件、飞机、飞机零部件进口分别增长29.6%、18.3%、92.4%、41.5%。民生类消费品进口表现良 好，乳品、干鲜瓜果、牛肉分别增长16.2%、15.3%和10.8%，显示内需消费活力逐步释放。 校对 柳宝庆 新京报贝壳财经讯（记者俞金旻）11月14日，贝壳财经记者从上海海关获悉，今年前10个月，上海市实 现进出口3.71万亿元人民币，同比增长5.2%，增速高于全国整体水平1.6个百分点。其中，出口1.64万亿 元，增长10.5%；进口2.07万亿元，增长1.3%。 贝壳财经记者注意到，自今 ...

Core Points - The event "2025 Consumption Assistance for Farmers" was launched in Yinchuan, Ningxia, showcasing local agricultural products and promoting economic development [1] - The event features three main exhibition areas highlighting local specialties, wine tasting, and intangible cultural heritage displays [2] - A total of 400,000 yuan in electronic consumption vouchers were distributed to encourage consumer participation and enhance shopping experiences [4] Group 1 - The event aims to directly deliver high-quality agricultural products to consumers, injecting new momentum into the county's economic and social development [1] - The "Yongning Flavor" exhibition area includes products from 20 local enterprises, offering a variety of food items for tasting [2] - The "Red Wine Card" tasting area features three local wineries, allowing consumers to experience the unique charm of Ningxia wines [2] Group 2 - The event will run until November 16, with daily performances and live interactions to attract more visitors and enhance consumer engagement [4] - Trained sales personnel are present to provide detailed product introductions, significantly improving the shopping experience [4] - The event emphasizes the synergy between quality products, commercial interaction, and consumer enjoyment, aiming for shared foot traffic and mutual benefits [4]

Core Insights - Shanghai's import and export value increased by 5.2% year-on-year in the first ten months of this year, reaching 3.71 trillion yuan, which is 1.6 percentage points higher than the national average [1] - Exports amounted to 1.64 trillion yuan, growing by 10.5%, while imports reached 2.07 trillion yuan, with a growth of 1.3% [1] - In October alone, the total import and export value was 367.98 billion yuan, marking a 3.1% increase [1] Export Performance - The export of "new three items" including electric passenger vehicles, solar cells, and lithium batteries totaled 131.43 billion yuan, an increase of 11.7% [2] - Green shipping equipment exports, particularly liquid cargo ships, saw a remarkable growth of 115%, amounting to 27.46 billion yuan [2] - Labor-intensive products also showed stable growth, with exports reaching 164.57 billion yuan, up by 2.9% [2] Import Performance - Key imports included metal ores and unrefined copper, which totaled 177.41 billion yuan and 50.67 billion yuan respectively, with growth rates of 8.6% and 17.2% [2] - High-tech product imports experienced significant growth, with semiconductor manufacturing equipment, computers and components, and aircraft and parts increasing by 29.6%, 18.3%, and 92.4% respectively [2] - Consumer goods imports showed positive trends, with dairy products, fresh and dried fruits, and beef increasing by 16.2%, 15.3%, and 10.8% respectively, indicating a gradual release of domestic consumption vitality [2]

Core Insights - Shanghai's total import and export value reached 3.71 trillion yuan in the first ten months of the year, marking a 5.2% increase year-on-year, which is 1.6 percentage points higher than the national average growth rate [1] - In October alone, Shanghai's import and export value was 367.98 billion yuan, with exports at 161.53 billion yuan and imports at 206.45 billion yuan, reflecting year-on-year growth of 3.5% and 2.8% respectively [1] Group 1: Trade Performance - Cumulative exports from Shanghai in the first ten months totaled 1.64 trillion yuan, up 10.5% year-on-year, while cumulative imports reached 2.07 trillion yuan, a 1.3% increase [1] - Shanghai's trade with emerging markets such as ASEAN, the Middle East, and Africa saw significant growth, with imports and exports of 530.31 billion yuan, 133.36 billion yuan, and 122.22 billion yuan respectively, representing year-on-year increases of 12.6%, 19.7%, and 26.8% [1] - Trade with major BRICS countries like Brazil and India also grew, with respective import and export values of 92.35 billion yuan and 81.34 billion yuan, showing increases of 7.8% and 31.6% [1] Group 2: Emerging Products and Sectors - Exports of emerging products such as electric passenger vehicles, lithium batteries, and solar cells reached 131.43 billion yuan, reflecting an 11.7% year-on-year increase, with growth rates exceeding 25% in the last six months [2] - The export of green shipping equipment, particularly liquid cargo ships, surged to 27.46 billion yuan, marking a substantial year-on-year increase of 115% [2] - Imports of high-tech products showed significant growth, with semiconductor manufacturing equipment, computers and components, and aircraft and parts increasing by 29.6%, 18.3%, and 92.4% respectively [2] Group 3: Consumer Goods - The import of consumer goods in Shanghai performed well, with dairy products, dried and fresh fruits, and beef seeing year-on-year increases of 16.2%, 15.3%, and 10.8% respectively, indicating a gradual release of domestic consumption vitality [2]

截至9月30日，益生股份股东户数4.22万，较上期减少12.13%；人均流通股17754股，较上期增加 13.80%。2025年1月-9月，益生股份实现营业收入20.36亿元，同比减少5.44%；归母净利润3178.69万 元，同比减少89.42%。 分红方面，益生股份A股上市后累计派现16.92亿元。近三年，累计派现6.02亿元。 融券方面，益生股份11月11日融券偿还3.36万股，融券卖出9800.00股，按当日收盘价计算，卖出金额 9.05万元；融券余量15.58万股，融券余额143.80万元，低于近一年50%分位水平，处于较低位。 资料显示，山东益生种畜禽股份有限公司位于山东省烟台市福山区益生路1号，成立日期1997年4月22 日，上市日期2010年8月10日，公司主营业务涉及曾祖代肉种鸡的引进与饲养、祖代肉种鸡的引进与饲 养、父母代肉种鸡雏鸡的生产与销售、商品代肉鸡雏鸡的生产与销售、种猪和商品猪的饲养和销售、农 牧设备的生产与销售、饲料的生产、奶牛的饲养与牛奶销售、有机肥的生产与销售。主营业务收入构成 为：鸡收入76.18%，猪收入15.47%，畜牧设备收入5.48%，乳品收入1.72%，其他收入1 ...

Core Insights - The report highlights that the capital expenditure of non-financial A-share listed companies has continued to decline, with a negative growth trend since the end of 2022, indicating a weakened investment capacity and willingness among companies [5][6] - It is recommended to focus on sectors with sufficient supply clearance, as any signs of demand recovery could lead to accelerated improvement in supply-demand structure, stabilizing prices and enhancing capacity utilization and profitability [6][9] Supply Clearance Areas - Sectors with significant supply clearance include: - Resource products benefiting from anti-involution: chemicals (coal chemicals, polyurethane, non-metallic materials), building materials (cement products, waterproof materials), non-ferrous metals (copper, lithium), coke, iron ore, and oil & gas refining [4][9] - Consumer goods: small consumer products (dairy, pet food, pig farming, snacks, branded cosmetics), real estate chain (home textiles, home furnishings, personal care small appliances, lighting equipment), and medical beauty consumables [4][9] - Traditional equipment manufacturing: motorcycles, distribution equipment, inverters, commercial cargo vehicles, printing and packaging machinery, instrumentation, and power transmission and transformation equipment [4][9] - Certain electronic hardware: integrated circuit manufacturing, analog chip design, optical components, semiconductor materials, LEDs, and branded consumer electronics [4][9] - Pharmaceuticals: vaccines, traditional Chinese medicine, and raw pharmaceutical materials [4][9] - New energy industry chain: silicon materials, batteries, photovoltaic processing equipment, wind power generation, as well as gold, gas, and dyeing [4][9] Inventory Depletion and Profitability - Industries experiencing accelerated inventory depletion and marginal improvement in gross margins are expected to have high earnings elasticity and certainty with further demand recovery, including chlor-alkali, fluorochemicals, special steel, modified plastics, and membrane materials [4][6] - Industries with continued supply clearance and declining inventory levels, along with falling gross margins, are likely to see a profitability turning point, such as chemicals (soda ash, organic silicon, polyurethane), coking coal, thermal coal, and glass manufacturing [4][6] Recommendations - Focus on sectors with accelerated supply clearance and low inventory, such as polyurethane, vaccines, dairy products, residential development, non-metallic materials, printing and packaging machinery, instrumentation, raw pharmaceuticals, and integrated circuit manufacturing [4][6] - Attention should also be given to sectors with ongoing contraction in supply and improving gross margins, including branded cosmetics, plastic packaging, pre-processed foods, home textiles, chlor-alkali, coke, special steel, pesticides, cement manufacturing, membrane materials, coatings, abrasives, photovoltaic processing equipment, silicon materials, inverters, medical consumables, and traditional Chinese medicine [4][6]