Investment Rating - Industry Rating: Recommended [4] Core Insights - The pork industry continues to face losses, with a focus on pig farming opportunities. The average price of live pigs is 11.59 CNY/kg, down 0.46% week-on-week. The total breeding sow inventory is 39.9 million heads, down 1.1% month-on-month and 2.1% year-on-year. The industry is experiencing ongoing losses, with self-bred and purchased pig farming losses at 130.11 CNY/head and 162.80 CNY/head respectively. The recent anti-dumping ruling may alleviate domestic pork supply pressure, leading to accelerated capacity reduction [2][12]. Summary by Sections Planting Industry Chain - The Ministry of Agriculture and Rural Affairs has initiated winter crop seed supervision checks to ensure seed safety for the upcoming spring and summer planting. The checks focus on key crops such as corn, rice, soybeans, cotton, and vegetables. The commercialization of genetically modified technology is expected to accelerate, enhancing self-sufficiency rates of key varieties. Recommended stocks include Beidahuang and Suqian Agricultural Development [1][11]. Pig Farming - The average price of live pigs is reported at 11.59 CNY/kg, with a slight decrease of 0.46% from the previous week. The average price for pig futures is 11,469 CNY/ton, reflecting a 1.07% increase. The average weight of pigs post-slaughter is 89.57 kg, with a month-on-month increase of 3.21% in slaughter volume [12][62][65]. Recommended Stocks - For pig farming, recommended stocks include: 1. Livestock sector: Lihua Stock, Muyuan Food, Shuanghui Development, Dekang Agriculture, Jingji Zhino, and Wens Foodstuff 2. Feed sector: Haida Group 3. Animal health sector: Jinhai Biological, Biological Shares, Placo, and Zhongmu Shares [2][12].

（来源：黑龙江日报） 转自：黑龙江日报 □本报记者 周静 要当好国家粮食安全"压舱石"。建好建强国家重要商品粮生产基地，更高水平保障国家粮食安全。提升 综合产能。谋划实施新一轮千万吨粮食增产计划，以"五良"深度融合大面积提升单产。推广高端农机。 实施农机研发制造推广应用一体化试点，加快建设高端智能农机装备先导区。抓牢"两个要害"。建好黑 龙江国家大豆种子基地，如期完成980.37万亩高标准农田建设任务。 要争当农业现代化建设排头兵。示范推广农业新技术、新装备、新业态、新模式、新场景，培育农业新 质生产力，加快率先实现农业"五化"。大力发展智慧农业，开展"人工智能+农业"行动，推动人工智 能、生物技术、低空经济等赋能，争创农业领域种植业方向国家人工智能应用中试基地。建设现代种业 大省，探索加快人工智能驱动的育种体系创新，选育突破性新品种，培育种业创新领军企业。建设农业 全面绿色转型样板区，打造非转基因、寒地黑土、绿色有机食品供给基地。建设农产品质量安全省，农 产品质量安全可追溯面积6000万亩以上。建设农业品牌强省，拓展"黑土优品"销售渠道，扩大定制农业 规模，进一步提升龙江优质农产品市场影响力和竞争力。 要打 ...

Investment Rating - Industry rating: Recommended [3] Core Views - The report emphasizes the importance of the EU's anti-dumping duties on imported pork, which are expected to alleviate domestic supply pressures and stabilize prices in the pork market. The anti-dumping tax rates range from 4.9% to 19.8% and will take effect from December 17, 2025 [2][12] - The report highlights the ongoing adjustments in the pig breeding capacity, with a noted decrease in the number of breeding sows, which is expected to support price recovery in the pork market [2][12] - The report suggests that the commercialization of genetically modified seeds will accelerate, enhancing self-sufficiency in key crop varieties and benefiting companies in the seed industry [11] Summary by Sections Planting Industry Chain - The Ministry of Agriculture and Rural Affairs has initiated inspections to ensure the safety of seeds for the upcoming spring and summer planting seasons, focusing on key crops such as corn, rice, soybeans, cotton, and vegetables [11] - The report identifies companies like Beidahuang and Suqian Agricultural Development as beneficiaries in the planting sector, while companies with significant advantages in the seed industry include Dabeinong and Longping High-Tech [11] Pig Breeding - The average price of live pigs is reported at 11.64 CNY/kg, with a week-on-week increase of 1.45%. The total number of breeding sows is 39.9 million, reflecting a decrease of 1.1% month-on-month and 2.1% year-on-year [2][12] - The report recommends focusing on companies with significant cost improvements and high future output elasticity, including Li Hua Co., Muyuan Foods, and WH Group in the breeding sector, and Haida Group in the feed sector [2][12] Key Agricultural Product Data Tracking - Corn: The average price is 2351.76 CNY/ton, with a week-on-week decrease of 0.26% [25] - Wheat: The average price is 2517.30 CNY/ton, with a week-on-week increase of 0.04% [28] - Soybeans: The average price is 4014.74 CNY/ton, remaining stable week-on-week [40] - Cotton: The average price is 14950.00 CNY/ton, with a week-on-week increase of 0.67% [44] Feed and Vitamin Prices - The average price of pig feed is 2.62 CNY/kg, with no change week-on-week. The average price of chicken feed is 3.5 CNY/kg, reflecting a week-on-week increase of 0.29% [51][53]

新华社北京12月19日电 题：攥紧中国种子 新华社记者 农业现代化，种子是基础。 习近平总书记 高度重视种业振兴行动，强调把种源安全提升到关系国家安全的战略高度，"实现种 业科技自立自强、种源自主可控"。 五年前的中央经济工作会议提出，要开展种源"卡脖子"技术攻关，立志打一场种业翻身仗。2021年 7月，中央深改委第二十次会议审议通过《种业振兴行动方案》，为推动我国由种业大国向种业强国迈 进明确了路线图、任务书。 五年间，在 习近平总书记 指引下，各地各部门攻坚克难推进种业振兴行动，培育了一批突破性新 品种，更好保障国家粮食安全、更好守护人们的美好生活。 靠"中国种"护"中国粮" 时值冬季，海南三亚仍温暖如春。 崖州湾科技城的试验田里，数十亩大豆秧苗透出浓浓绿意。这几天，崖州湾国家实验室大豆种子创 新团队首席科学家田志喜正在认真观察秧苗性状，努力挖掘作物增产稳产的"基因密码"。 每年11月至次年4月，在海南开展南繁育种加代和相关研究；4月起收获育种材料后陆续到各地播 种；6月到10月，频繁辗转各地查看材料的生长表现……田志喜说，通过南繁科研培育，聚合多种优良 性状的大豆育种材料已在10多个省份开展种植测试。 ...

北纬18度的海南三亚，常年日照充足、温度适宜、雨水充沛，独特的地理优势让这里成为了农作物生长的"天然大温室"。 海南正在加速培育和发展种业新质生产力，不但利用温度优势让作物在这里多繁育一到两季，同时还借助科技创新为农作物育种按下 了"加速键"。 记者手中的大豆种子在经过电子加速器不同程度的辐照后，呈现出多样的变异类型。科研人员告诉记者，过去选育一个新品种需要5—7 年，而在科技的助力下，现在有望缩短至2—3年。 央视网消息：目前，海南正在努力寻求种业振兴的"最优解"，记者来到位于三亚崖州湾科技城高新区的"南繁硅谷"，探寻海南自贸港封关 运作将如何让那里的每一粒种子释放出更大潜能。 海口海关所属三亚海关副关长王彦称："因为这个特定用途的种苗原来在口岸进行采样，而且滞留的时间比较长，种苗的存活率相对低一 些。特定用途种苗这个政策实施之后，我们成功将种苗的存活率提升到95%以上。" 除了种质资源有望迎开更多国际合作新机遇，海南自贸港封关运作也正在加速集聚科研机构、资本与人才资源。在"南繁硅谷"时常会碰见 几张"洋面孔"，中国工程院外籍院士达科拉是首位全职在中国农业科学院国家南繁研究院工作的外籍育种专家，我们遇到他时 ...

记者从农业农村部了解到，今年以来，我国深入推进种业振兴行动。目前，"五年见成效"阶段性目标任 务即将如期完成，取得了一批重要标志性成果。 农业生产用种安全保障水平稳步提升。甘肃玉米、四川水稻、黑龙江大豆、海南南繁四大国家级育制种 基地和一批优势种子基地现代化水平持续提升，国家种业基地供种保障率达到80%，比2020年提高10个 百分点，种子质量合格率稳定在98%以上。推动出台植物新品种保护条例。集中开展牛冷冻精、网络售 种、非法转基因种子等专项整治，全国涉种案件较2020年下降20%，激励创新、保护创新的良好市场环 境不断优化。 （文章来源：央视新闻） 种质资源优势加快转化为创新优势。新修订国家级畜禽遗传资源保护名录，发布中国畜禽遗传资源状 况。实施玉米种质资源改良计划，国家库存资源基因型鉴定比例达到70%，核心资源表型鉴定比例提升 到35%，玉米、大豆资源精准鉴定任务提前完成。全年分发资源超10万份次，有效服务育种创新主体， 资源正加快"活起来、用起来"。 种业企业梯度培育体系基本构建。企业牵头科技攻关任务占比超过六成，农作物阵型企业研发投入比 2020年增加了一倍，巩固强化水稻、小麦、蛋鸡等种源竞争优势， ...

格隆汇12月15日丨国投丰乐(000713.SZ)在互动平台表示，公司目前尚不具备大豆种子研发能力。感谢 您的关注，公司目前尚不具备大豆种子研发能力。 ...

人民财讯12月15日电，国投丰乐（000713）12月15日在互动平台表示，公司目前尚不具备大豆种子研发 能力。 ...

Core Viewpoint - The Ministry of Agriculture and Rural Affairs has initiated a nationwide inspection of winter crop seeds to prevent the circulation of substandard and illegal seeds in the market [1] Group 1: Inspection Focus - The inspection will concentrate on key crops such as corn, rice, soybeans, cotton, and vegetables [1] - It will also include the national disaster relief and emergency reserve seeds [1] Group 2: Objectives - The primary goal is to ensure the quality of seeds and safeguard agricultural production [1] - The initiative aims to enhance the regulatory framework surrounding seed management [1]

Core Viewpoint - The Ministry of Agriculture and Rural Affairs has initiated a nationwide winter crop seed supervision inspection to ensure the safety of seeds for the upcoming spring and summer planting seasons [1] Group 1: Inspection Focus - The inspection will focus on key crops such as corn, rice, soybeans, cotton, and vegetables, as well as national disaster relief reserve seeds [1] - Key areas of verification include the production and operational qualifications of seed companies, seed quality, labeling, and authenticity of varieties [1] Group 2: Legal Enforcement - The Ministry will strictly investigate and penalize illegal activities such as unlicensed production and sale of inferior seeds and trademark infringement [1] - There will be a continued effort to regulate seed sales on online platforms to prevent the entry of substandard and illegal seeds into the market [1] Group 3: Agricultural Support - The initiative aims to ensure the safety of agricultural production seeds, which is crucial for enhancing the yield of grain and oil crops on a large scale [1]