Group 1: Company Performance - As of September 30, 2025, the company achieved a revenue of 1.024 billion yuan, representing a year-on-year growth of 58.98% [2] - The net profit attributable to the parent company for the same period was 183 million yuan, showing a significant year-on-year increase of 2243.97% [2] - The company has distributed a total of 93.93 million yuan in dividends since its A-share listing, with 37.14 million yuan distributed over the past three years [3] Group 2: Shareholder and Financing Information - As of November 21, 2023, the company had a total of 17,300 shareholders, an increase of 1.12% from the previous period [2] - The average number of circulating shares per shareholder was 7,211, which decreased by 1.10% compared to the previous period [2] - On November 21, 2023, the company recorded a financing buy-in amount of 14.68 million yuan, with a net financing buy of 4.22 million yuan, indicating a relatively high financing balance of 124 million yuan, accounting for 3.39% of the circulating market value [1]

Core Viewpoint - Xiaoming Co., Ltd. experienced a 5.03% decline in stock price, closing at 23.80 CNY per share, with a trading volume of 194 million CNY and a turnover rate of 6.43%, resulting in a total market capitalization of 4.464 billion CNY [1] Company Overview - Xiaoming Co., Ltd. is located in Yinchuan, Ningxia, and was established on July 5, 2011, with its IPO on April 13, 2021. The company primarily engages in the breeding of grandparent and parent generation egg-laying chickens, sales of parent generation chicks, commercial chicks, and related by-products. The revenue composition is as follows: chicken revenue accounts for 87.88%, by-product revenue for 12.10%, and other revenue for 0.02% [1] Shareholder Information - Among the top ten circulating shareholders of Xiaoming Co., Ltd., a fund under Guotai Fund ranks as a significant stakeholder. The Guotai Zhongzheng Livestock Breeding ETF (159865) entered the top ten circulating shareholders in the second quarter, holding 1.0756 million shares, which represents 0.86% of the circulating shares. The estimated floating loss today is approximately 1.3553 million CNY [2] Fund Performance - The Guotai Zhongzheng Livestock Breeding ETF (159865) was established on March 1, 2021, with a current scale of 3.574 billion CNY. Year-to-date, it has achieved a return of 21.09%, ranking 2427 out of 4222 in its category. Over the past year, the return is 40.97%, ranking 2759 out of 3804. Since inception, the fund has incurred a loss of 31.32% [2]

Group 1 - The company, Xiaoming Co., is an integrated technology-based enterprise specializing in the breeding of grandparent and parent generation egg-laying chickens, as well as related services such as egg incubation and chick sales [2] - The main business activities include the breeding of grandparent and parent generation egg-laying chickens, sales of parent generation chicks, commercial chicks, and their by-products, as well as the breeding and sales of commercial growing chickens [2] - The primary products consist of parent generation chicks, commercial chicks, and their by-products, with a focus on unincubated breeding eggs and eggs that have not yet hatched [2]

Core Viewpoint - Ningxia Xiaoming Agricultural and Animal Husbandry Co., Ltd. reported a decrease in chicken product sales in July 2025 compared to the previous month, but a year-on-year increase, indicating seasonal market dynamics and potential for growth in the upcoming months [1][2]. Group 1: Sales Performance - In July 2025, the company sold 19.93 million chickens, generating revenue of 75.14 million yuan, with month-on-month declines of 13.60% and 22.35%, respectively, but year-on-year increases of 18.93% and 54.11% [1]. - For the year 2024, the company sold a total of 229.92 million chickens, averaging 19.16 million chickens sold per month [2]. - From August 2024 to July 2025, the company sold 293.25 million chickens, with an average monthly sale of 24.44 million chickens, showing a clear upward trend [2]. Group 2: Market Dynamics - The company operates in a traditional off-peak season for the egg-laying chicken industry, but the breeding sector continues to see strong demand, leading to increased sales of chick products year-on-year [1]. - Factors such as the return of cooler temperatures, extended egg storage times, and increased demand from the upcoming Mid-Autumn Festival and school openings are expected to boost market demand [1]. Group 3: Business Strategy and Development - The company focuses on building a robust market service system, enhancing customer relationship management, and providing tailored technical support to improve customer loyalty [3]. - Future strategies include optimizing the scale and structure of the egg-laying chicken industry, improving product quality, and expanding into new business areas such as non-cage egg sales and premix feed production [3]. - The company aims to create a new ecosystem for industry development through collaboration and strategic partnerships, particularly with small and medium-sized farmers [3].