基金公告显示，天弘中证农业主题交易型开放式指数证券投资基金（场内简称：农业ETF天弘，基金代 码：512620）于今日（11月21日）正式上市！ 全链龙头：农业ETF天弘(512620)跟踪中证农业指数，精选50只标的，覆盖养殖（41.9%）、农化 （17.7%）等领域，汇聚牧原、海大等龙头，多元布局分散周期风险。 估值洼地：当前指数市盈率（TTM）剔除负值处近十年10%分位数以下，叠加猪价回升、机构资金流入， 有望迎估值修复与业绩增长。（数据来源：Wind，截至2025.10.16） 【相关产品】 农业ETF天弘(512620)，对应场外联接基金（A：010769；C：010770）。 【热点事件】 1、国家调研部署粮食购销储备工作 11月16日至18日，国家发展改革委相关领导带队赴湖北武汉、宜昌等地，加强粮食购销和储备管理开展调 研。调研中指出，要加强粮食市场监测，发挥储备吞吐调节作用，精准落实调控措施，推动粮食价格保持 在合理水平。要坚持市场和政府协同发力，统筹抓好市场化收购和政策性收储，多措并举畅通农民售粮渠 道，切实守住农民"种粮卖得出"的底线。 2、重要会议高质量推进全国冬春农田水利及高标准农田建 ...

Group 1 - The A-share market showed a strong rebound on November 19, with the ChiNext Index rising over 1.00%, the Shanghai Composite Index increasing by 0.47%, and the Shenzhen Component Index up by 0.46% [1] - The agricultural sector was notably active, with the China Securities Agricultural Index increasing by 0.40% [1] Group 2 - The Tianhong Agricultural ETF (512620) is set to be listed on November 21, tracking the China Securities Agricultural Index and covering sectors such as breeding and agricultural chemicals, with leading stocks including Muyuan Foods, Wens Foodstuff Group, and Haida Group [2] - The Ministry of Agriculture and Rural Affairs reported that over 80% of winter wheat has been sown nationwide, with significant progress in key provinces such as Henan (nearly 80%), Anhui (over 80%), and Shandong (nearly 90%) [2] - According to Guosheng Securities, the overall allocation in the agriculture, forestry, animal husbandry, and fishery sectors is currently low, below the standard allocation ratio, indicating potential investment opportunities [2] Group 3 - Kaisheng Securities noted that the previous overselling of live pigs, combined with a seasonal increase in consumption, may lead to a temporary strengthening of pig prices [3] - The supply side is expected to contract due to the overselling of live pigs in October and a reduction in breeding stock earlier in the year, while demand may increase due to a cold wave warning issued by the Central Meteorological Observatory on November 15 [3]

Group 1 - The Agricultural ETF Tianhong (subscription code: 512623) has officially launched, providing an efficient and convenient tool for investors to allocate resources in the agricultural sector [1] - The ETF is policy-backed, benefiting from the foundational role of agriculture in the national economy, with policies such as the 2025 Central Document No. 1 and the "Accelerating the Construction of a Strong Agricultural Country Plan" set to be implemented, ensuring a full-chain dividend [1] - The ETF tracks the CSI Agricultural Index, selecting 50 stocks across various fields, including breeding (42.3%) and agrochemicals (17.5%), featuring leading companies like Muyuan and Haida, which helps to diversify cyclical risks [1] Group 2 - The current index price-to-earnings ratio (TTM) is below the 10th percentile of the past decade, indicating a valuation trough, combined with rising pig prices and institutional capital inflow, suggesting potential for valuation recovery and earnings growth [3] - The president of the China Animal Husbandry Association stated that high-quality development in the pig farming industry does not exclude competition, emphasizing the need for innovation, cost reduction, and quality maintenance while controlling production capacity [3] - According to Guojin Securities, the average national pig price in Q3 2025 was 13.79 yuan/kg, down 29.05% year-on-year, with some companies facing losses due to falling prices, leading to an expected industry capacity reduction [3]