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：2026-001 山东民和牧业股份有限公司 2025年12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12月份商品代鸡苗销售情况 山东民和牧业股份有限公司（以下简称"公司"或"本公司"）2025年12月销售商品代鸡苗2,965.92万只， 同比变动65.22%，环比变动6.73%；销售收入10,298.67万元，同比变动53.09%，环比变动6.67%。 二、原因说明 公司商品代鸡苗销量同比上升65.22%，销售收入同比上升53.09%，主要原因是上年度停孵期集中在 2024年12月，此次停孵期处于2026年1月，因此12月商品代鸡苗销量和收入同比上升（停孵：系孵化厂 为避免毛鸡在春节假期出栏无法宰杀而提前避开生产的年度常规操作）。 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。鸡苗产品销售价格变 动幅度和频次较大，其价格变动直接会对公司的经营业绩产生影响。 2、上述数据均未经审 ...

格隆汇1月9日丨民和股份(002234.SZ)公布，2025年12月销售商品代鸡苗2,965.92万只，同比变动 65.22%，环比变动6.73%；销售收入10,298.67万元，同比变动53.09%，环比变动6.67%。 ...

民和股份（002234）(002234.SZ)披露2025年12月份鸡苗销售情况，公司2025年12月销售商品代鸡苗 2,965.92万只，同比变动65.22%，环比变动6.73%;销售收入1.03亿元，同比变动53.09%，环比变动 6.67%。 ...

智通财经APP讯，民和股份(002234.SZ)披露2025年12月份鸡苗销售情况，公司2025年12月销售商品代鸡 苗2,965.92万只，同比变动65.22%，环比变动6.73%;销售收入1.03亿元，同比变动53.09%，环比变动 6.67%。 ...

益生股份近期在法国引种方面遇到了哪些问题？这些问题对公司的影响如何？ 摘要 高致病性禽流感导致益生股份 2026 年 1 月下旬祖代种鸡引种计划暂停， 但因 2025 年引种量大，预计不影响 2026 年父母代种鸡供应及价格。 父母代种鸡价格自 2025 年 9 月上涨，目前成交价约 50 元。 短期内，若法国禽流感持续，益生股份尚无其他国家或地区快速引种的 确定方案，需等待美国或欧洲其他国家开放引种的进一步通知，引种审 批时间已延长至两到三个月。 益生股份 2025 年四季度销售父母代 350 多万套，均价 33 元；商品代 鸡苗 1.62 亿只，均价 3.4 元；商品猪 3 万多头，均价 2,300 元。父母 代和商品代鸡苗价格均达全年最高水平，预计 2026 年 1 月父母代成交 价 50 元左右。 2025 年一季度引种量少影响父母代种鸡供应，致使 2025 年 9 月起价 格上涨。商品代苗价格受 2025 年 7 月低价影响，行业去产能，供给下 降，同时养殖屠宰环节扩产及肉价上涨支撑苗价，2025 年 12 月毛鸡价 格达全年高点 3.85 元/斤。 季节性疾病影响养殖效率，2026 年肿瘤、压抑等 ...

竞争优势稳固，利润或将迎来改善 本报告导读： 白鸡产业链价格未来或将逐渐回暖，公司业务集中于利润最丰厚的种鸡环节，且公 司龙头优势明显。未来销量有望继续增长，单羽盈利也将迎来改善。 投资要点： | 风险提示：引种中断，消费不及预期；出现超预期畜禽疫病。 | | | | | | | --- | --- | --- | --- | --- | --- | | [Table_Finance] 财务摘要(百万元) | 2023A | 2024A | 2025E | 2026E | 2027E | | 营业总收入 | 3,225 | 3,136 | 2,989 | 3,514 | 3,873 | | (+/-)% | 52.7% | -2.8% | -4.7% | 17.5% | 10.2% | | 净利润(归母) | 541 | 504 | 196 | 625 | 818 | | (+/-)% | 247.3% | -6.8% | -61.1% | 218.4% | 31.0% | | 每股净收益(元) | 0.49 | 0.46 | 0.18 | 0.56 | 0.74 | | 净资产收益率(%) | 12.2% ...

在产蛋鸡存栏跌破13亿只 钢联最新数据显示，2025年12月在产蛋鸡存栏降至12.95亿只，主产同比上个月下降了0.07亿只，但主产占比超过80%，存栏结构偏年轻化，预计后续去化 阻力较大；商品代鸡苗销量从2025年11月开始止跌，重回增长趋势；淘鸡日龄仍停留在488天。整体看来，行业尚未进入产能的加速淘汰期。 （来源：蛋品世界WECD） 2025年鸡蛋的价格持续低迷，在产蛋鸡存栏居高不下，行业始终没有看到产能的加速淘汰。从期货价格来看，近月价格低，远月价格高，呈现"弱现实， 强预期"的结构。 全国鸡蛋出场价格及饲料市场价格 | 日期 | 鸡蛋价格 | 饲料价格 | 蛋料比价 | 蛋料比价 | 预期盈利 | | --- | --- | --- | --- | --- | --- | | | (元/公斤) | (元/公斤) | | 平衡点 | (元/只) | | 本周 | 6.00 | 2.64 | 2.35 | 2.84 | -25.87 | | 环比 | -2.28% | 0.00 | -2.08% | 0.35% | | 本周全国蛋料比价为2.35，环比下跌2.08%。按目前价格及成本推算，未来蛋鸡养殖每 ...

Report Summary 1. Report Industry Investment Rating No information provided on the industry investment rating. 2. Core View of the Report - Affected by the low replenishment in August, the inventory of laying hens has gradually shrunk but remains relatively high. The double 12 e - commerce promotion and New Year's Day holiday effect provide short - term support for demand, but the overall weak consumption pattern remains unchanged. The demand boost is limited. In the short term, the inventory in production and circulation links needs to be digested, and the weak supply - demand balance pattern is difficult to change. It is expected to continue the low - level shock [8][71]. 3. Summary by Relevant Catalogs 3.1走势回顾 - **Futures Price**: Last week, the egg futures market was weak, and the main contract was switched to 2602. As of last Friday's close, the main egg JD2602 contract was reported at 2,886 yuan per 500 kilograms, down 1.03%; the egg JD2601 contract was reported at 3,077 yuan per 500 kilograms, up 0.26% [5][14]. - **Spot Price**: Last week, the egg prices in the national production and sales areas increased month - on - month. The average price in the main production areas was 3.06 yuan per catty, up 0.03 yuan per catty from the previous week, with a growth rate of 0.99%; the average price in the main sales areas was 3.11 yuan per catty, up 0.03 yuan per catty from the previous week, with a growth rate of 0.97% [7][18]. - **Chick Price**: Last week, the average price of commercial chicks in the country was 2.71 yuan per chick, up 0.01 yuan per chick from the previous week, a month - on - month increase of 0.37% and a year - on - year decrease of 39.10% [22]. - **Old Hen Price**: Last week, the old hen price increased month - on - month. The average price of old hens was 4.1 yuan per catty, up 0.02 yuan per catty, with a growth rate of 0.49% [26]. 3.2基本面分析 - **Supply Side** - **Laying Hen Inventory**: In November, the inventory of laying hens decreased month - on - month. As of the end of November, the national inventory of laying hens was about 1.307 billion, a month - on - month decrease of 0.31% and a year - on - year increase of 8.46%. It is expected that the inventory of laying hens in December will still decline slightly [30]. - **Production Area Shipment**: Last week, the shipment volume in the main egg production areas increased month - on - month. The shipment volume in the sample market was 6,357.58 tons, a month - on - month increase of 0.04% and a year - on - year decrease of 17.08% [36]. - **Old Hen Slaughter**: Last week, the slaughter volume of old hens decreased slightly. The total slaughter volume of old hens was 661,100, a month - on - month decrease of 0.08%; the average slaughter age was 488 days, with a maximum of 500 days and a minimum of 475 days [40]. - **Demand Side** - **Sales in Sales Areas**: Last week, the egg sales in the sales areas decreased month - on - month. The egg sales in the representative markets in the sales areas were 6,432.88 tons, a month - on - month decrease of 7.05% and a year - on - year decrease of 3.1% [44]. - **Arrival in Sales Areas**: Last week, the arrival in the Beijing market was 81 trucks, a month - on - month decrease of 11 trucks; the arrival in the Guangdong market was 513 trucks, a month - on - month decrease of 7 trucks [47]. - **Old Hen Slaughter Volume**: Last week, the old hen slaughter volume decreased month - on - month. The old hen slaughter volume of sample slaughter enterprises was 1.9585 million, a decrease of 124,000 from the previous week, a month - on - month decrease of 0.63% [53]. - **Inventory Situation**: As of last Friday, the national production - link inventory was 0.95 days, the same as the previous Friday; the circulation - link inventory was 1.35 days, an increase of 0.09 days from the previous Friday [57]. - **Laying Hen Breeding Cost and Profit**: Last week, the average breeding cost of laying hens was 3.52 yuan per catty, a month - on - month increase of 0.01 yuan per catty, with a growth rate of 0.28%. The breeding profit was - 0.45 yuan per catty, a month - on - month increase of 0.03 yuan per catty, with a growth rate of 6.25%. The national average price of the corn market was 2,310 yuan per ton, a month - on - month decrease of 13 yuan per ton; the national average price of the soybean meal market was 3,122 yuan per ton, a month - on - month increase of 39 yuan per ton [61]. - **Related Products Situation** - **White - Feathered Broiler**: Last week, the average price of white - feathered chicks was 3.39 yuan per chick, up 0.06 yuan per chick from the previous week; the average price of white - feathered broilers was 3.63 yuan per catty, a month - on - month increase of 1.68% [65]. - **817 Small White Chicken**: The national weekly average price of 817 small white chickens was 3.89 yuan per catty, up 0.07 yuan per catty from the previous week, a month - on - month increase of 1.83% [70]. 3.3后市展望 - Affected by the low replenishment in August, the inventory of laying hens has gradually shrunk but remains relatively high. The double 12 e - commerce promotion and New Year's Day holiday effect provide short - term support for demand, but the overall weak consumption pattern remains unchanged. The demand boost is limited. In the short term, the inventory in production and circulation links needs to be digested, and the weak supply - demand balance pattern is difficult to change. It is expected to continue the low - level shock [8][71]. 3.4操作策略 - **Single - Side**: Temporarily wait and see, and continuously pay attention to the old hen elimination rhythm. - **Arbitrage**: None. - **Options**: None [9][72].

Group 1: Sales Performance - In November 2025, the company sold 27.79 million chicks, representing an 18.79% year-on-year increase and a 3.49% month-on-month increase [2] - The sales revenue for the same period was 96.55 million yuan, showing a 5.84% year-on-year decrease but a 7.75% month-on-month increase [2] Group 2: Management Changes - The company's General Manager, Sun Xianfa, submitted his resignation to focus on his role as Chairman, effective upon delivery of the resignation report [7] - Zhang Dongming, the Vice General Manager, also resigned to ensure a smooth transition for the new General Manager position, but will continue to serve as a board member and secretary [8] - Zhang Dongming has been appointed as the new General Manager, with his term starting from the board's approval date [8][31] Group 3: Guarantee Matters - The company has provided guarantees for its subsidiaries, with a total guarantee amount of 1 billion yuan approved, and actual guarantees amounting to 604.65 million yuan, which is 29.81% of the company's latest audited net assets [28] - Recent guarantees include a 20 million yuan loan for its subsidiary and a 40 million yuan credit agreement, both backed by the company [13][14]

民和股份(002234.SZ)披露2025年11月份鸡苗销售情况，公司2025年11月销售商品代鸡苗2778.95万只， 同比变动18.79%，环比变动3.49%;销售收入9654.76万元，同比变动-5.84%，环比变动7.75%。 ...