登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：002234 证券简称：民和股份 公告编号：2025-045 山东民和牧业股份有限公司 2025年9月份鸡苗销售情况简报 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导性陈述或重大遗 漏。 一、2025年9月份商品代鸡苗销售情况 2、上述数据均未经审计，与定期报告披露的数据之间可能存在差异，仅作为阶段性数据供投资者参 考。 请广大投资者理性投资，注意投资风险。 特此公告。 山东民和牧业股份有限公司董事会 二〇二五年十月十一日 证券代码：002234 证券简称：民和股份 公告编号：2025-046 山东民和牧业股份有限公司（以下简称"公司"或"本公司"）2025年9月销售商品代鸡苗2,641.72万只，同 比变动36.97%，环比变动3.47%；销售收入8,534.45万元，同比变动25.16%，环比变动-1.23%。 二、原因说明 公司商品代鸡苗销量同比上涨，主要原因是公司存栏种鸡增加及上孵种蛋增加，因此本期鸡苗销量增 加。 三、特别提示 1、上述披露仅代表公司商品代鸡苗销售情况，其他业务的经营情况不包括在内。鸡苗产品销 ...

民和股份10月10日晚间公告，公司2025年9月销售商品代鸡苗2641.72万只，同比变动36.97%，环比变动 3.47%；销售收入8534.45万元，同比变动25.16%，环比变动-1.23%。公司商品代鸡苗销量同比上涨，主 要原因是公司存栏种鸡增加及上孵种蛋增加，因此本期鸡苗销量增加。 ...

格隆汇10月10日丨民和股份(002234.SZ)公布，公司2025年9月销售商品代鸡苗2,641.72万只，同比变动 36.97%，环比变动3.47%；销售收入8,534.45万元，同比变动25.16%，环比变动-1.23%。 公司商品代鸡苗销量同比上涨，主要原因是公司存栏种鸡增加及上孵种蛋增加，因此本期鸡苗销量增 加。 ...

转自：证券时报 人民财讯10月10日电，民和股份(002234)10月10日公告，公司2025年9月销售商品代鸡苗2641.72万只， 同比增长36.97%，环比增长3.47%；销售收入8534.45万元，同比增长25.16%，环比下降1.23%。公司商 品代鸡苗销量同比上涨，主要原因是公司存栏种鸡增加及上孵种蛋增加，因此本期鸡苗销量增加。 ...

民和股份（002234）(002234.SZ)发布公告，公司2025年9月销售商品代鸡苗2,641.72万只，同比变动 36.97%，环比变动3.47%;销售收入8,534.45万元，同比变动25.16%，环比变动-1.23%。 ...

智通财经APP讯，民和股份(002234.SZ)发布公告，公司2025年9月销售商品代鸡苗2,641.72万只，同比变 动36.97%，环比变动3.47%;销售收入8,534.45万元，同比变动25.16%，环比变动-1.23%。 ...

民和股份公告，2025年9月销售商品代鸡苗2641.72万只，同比变动36.97%，环比变动3.47%；销售收入 8534.45万元，同比变动25.16%，环比变动-1.23%。公司商品代鸡苗销量同比上涨，主要原因是公司存 栏种鸡增加及上孵种蛋增加，因此本期鸡苗销量增加。 ...

Summary of Yisheng Co., Ltd. Conference Call Company Overview - Yisheng Co., Ltd. is a leading breeding company in Asia, specializing in high-quality poultry and swine genetics, with a significant market share in the domestic imported breeding stock market, accounting for approximately one-third of the market [3][6]. Financial Performance - In the first half of 2025, Yisheng reported a total profit of approximately 6 million yuan, with profits from parent stock chickens and breeding pigs at 40 million yuan each, while losses from commercial chicken chicks amounted to 50 million yuan [2][3]. - The company sold 4 million sets of parent stock chickens, generating a profit of 10 yuan per set, and sold 320 million commercial chicken chicks at a cost of less than 2.5 yuan each, resulting in a total loss of 50 million yuan [3]. Market Dynamics - The price of commercial chicken chicks began to rise rapidly in mid-July due to seasonal factors such as farming activities and school holidays, with current prices at 14.2 yuan per chick against a cost of 2.6-2.7 yuan [2][5]. - The ongoing U.S.-China trade war and avian influenza have contributed to increased prices for chicken wings and feet [2][5]. Import and Breeding Strategy - Following the suspension of imports from the U.S. and New Zealand, Yisheng has actively sourced breeding stock from France, importing 132,000 sets from March to July 2025, which represents nearly 60% of the national import volume [2][6]. - The company plans to import an additional 30,000 sets in August 2025, with a total expected import volume of around 300,000 sets in a normal year [11]. Pricing and Sales Outlook - Current prices for parent stock are over 50 yuan per set, while commercial chicken chicks are priced at 4.2 yuan each, with expectations for continued price adjustments [7][18]. - The company anticipates a positive outlook for profits in the second half of 2025, expecting commercial chick sales to reach 660 million and pig sales to exceed 100,000 heads [4][31]. Product Development - The company has received new breed recognition for its 817 series, which is more suitable for small-scale farming, complementing the existing 909 series [8]. - Yisheng has expanded its swine business significantly, with sales expected to exceed 100,000 heads in 2025 and a target of 200,000 heads by 2026 [9][10]. Industry Trends - The overall demand for white chicken is expected to increase, driven by rising domestic consumption and reduced imports from Thailand and other countries [19][20]. - The poultry industry is projected to see an increase in slaughter volume compared to the previous year, with expectations of a continued upward trend in prices [20][31]. Challenges and Risks - The company faces challenges from rising import costs and potential impacts from avian influenza on breeding stock availability [21][22]. - The profitability of Yisheng's investments in joint ventures and agricultural equipment companies has been affected, with reported losses of 20 million yuan [2][3]. Future Plans - Yisheng is constructing a new parent stock facility in Shanxi with a capacity of 1 million sets, which is expected to enhance production capabilities significantly [15][16]. - The company is exploring futures contracts to stabilize feed costs amid fluctuating prices for corn and soybean meal [15]. This summary encapsulates the key points from the conference call, highlighting Yisheng Co., Ltd.'s financial performance, market dynamics, strategic initiatives, and future outlook.

Company Overview - Established in 1989, Yisheng Co. specializes in breeding high-quality livestock and poultry, being the largest ancestor meat chicken breeding enterprise in Asia, accounting for approximately 33% of the domestic imported chicken market [1][2] - The company has implemented a source purification strategy to ensure the health of breeding stock and product quality, gaining high market recognition [2] Production and Sales - The company plans to sell 100,000 breeding pigs in 2025, with 38,500 sold in the first half of the year [2] - As of August 2025, the company has approximately 400,000 ancestor meat chickens and over 6 million parent stock chickens in inventory [4] Import and Market Trends - From January to July 2025, the company imported 132,000 sets of ancestor meat chickens, representing nearly 60% of the national total import of 230,000 sets, with a year-on-year decline of over 30% in imports and updates [3] - The company plans to import 30,000 sets of ancestor meat chickens in August 2025 [4] Pricing and Market Conditions - The price for parent stock chicken seedlings is set at 52 yuan per set for August and September 2025, with monthly adjustments based on market demand [7] - The price of commodity chicken seedlings is expected to improve in the second half of the year, following a trend of rising prices since mid-July [8] Future Developments - The company is constructing a project in Datong, Shanxi, which includes nine parent stock chicken farms and a feed factory, with production capacity being gradually released [6] - The company is in the process of applying for approval for a new breed of egg-laying chickens, having completed preliminary testing [10]

Core Viewpoint - The poultry industry, particularly the white feather chicken sector, has experienced a rapid price increase in chick and broiler chicken markets, transitioning from a period of low prices and overcapacity to a situation of supply shortages and rising prices [1][4][6]. Price Trends - The price of commodity chick has surged from 1.5 yuan per chick in early July to 4.2 yuan per chick by August 11, marking a 180% increase [2][4]. - Broiler chicken prices in Shandong dropped to 3 yuan per pound in early July but have since risen to 3.55 yuan, with some slaughterhouses paying as much as 3.7 yuan per pound [2][4]. Supply and Demand Dynamics - The poultry industry has seen a significant shift in supply dynamics due to previous overproduction and recent weather changes, leading to increased demand for chicks as temperatures cool and schools prepare for the new term [4][5]. - The supply of commodity chicks decreased by 0.95% in July, with expectations of a further decline in August [5]. Profitability Across the Supply Chain - As of August 5, profitability across the poultry supply chain is positive, with theoretical profits of 0.50-0.80 yuan per chick at the breeding level, 1.73 yuan per commodity chicken, and 0.36 yuan per chicken at the slaughtering level [3]. Market Influences - The increase in prices is attributed to reduced imports of chicken meat due to avian influenza and trade tensions, alongside a decrease in domestic production capacity [4][6]. - The overall inventory of chicken products has decreased significantly, with slaughterhouse stocks dropping from high levels in mid-July to lower levels currently [3]. Future Outlook - Despite the current price increases, there are concerns about long-term sustainability due to potential overcapacity and weak terminal demand, which may pressure prices downward in the future [6].