9月30日，唐人神跌0.62%，成交额8914.52万元。两融数据显示，当日唐人神获融资买入额806.46万 元，融资偿还1668.47万元，融资净买入-862.01万元。截至9月30日，唐人神融资融券余额合计4.59亿 元。 责任编辑：小浪快报 截至6月30日，唐人神股东户数7.84万，较上期减少10.95%；人均流通股18252股，较上期增加12.29%。 2025年1月-6月，唐人神实现营业收入124.68亿元，同比增长15.05%；归母净利润-5992.46万元，同比减 少1386.75%。 分红方面，唐人神A股上市后累计派现9.72亿元。近三年，累计派现5090.17万元。 机构持仓方面，截止2025年6月30日，唐人神十大流通股东中，国泰中证畜牧养殖ETF（159865）位居 第三大流通股东，持股2039.99万股，相比上期增加82.52万股。南方中证1000ETF（512100）位居第四 大流通股东，持股1327.36万股，相比上期增加254.81万股。香港中央结算有限公司位居第五大流通股 东，持股1088.55万股，相比上期减少522.99万股。银华农业产业股票发起式A（005106）位居第六 ...

Core Insights - Brazil's agricultural GDP is projected to reach 1.406 trillion reais by August 2025, reflecting an 11.3% increase compared to the same period in 2024 [2] Agricultural Production Value - Soybean leads the crop sector with a production value of 322.1 billion reais, marking an 8.8% year-on-year growth [2] - Corn follows with a production value of 164 billion reais, showing a significant increase of 32.4% [2] - Sugarcane's production value is 117.9 billion reais, experiencing a slight decline of 1.3% [2] - Coffee production value stands at 115.2 billion reais, with a remarkable growth of 47.2% [2] - Cotton's production value is 36.6 billion reais, reflecting an 8.4% increase [2] - The combined production value of these five major crops accounts for 53.8% of Brazil's total agricultural GDP [2] Livestock Sector - The production values for beef, poultry, and dairy are 204.1 billion reais, 111 billion reais, and 71.5 billion reais, respectively [2] - The beef industry alone contributes 14.5% to Brazil's agricultural GDP [2] Regional Distribution - The states with the highest agricultural production values are Mato Grosso (221.3 billion reais), Minas Gerais (168.3 billion reais), São Paulo (159 billion reais), and Paraná (157.4 billion reais [2]

阿根廷恐怕又要崩了！这可不是开玩笑，是阿根廷政府给全球市场传递的明确信号。9月22号，他们突 然宣布即日起临时取消大豆、玉米、小麦、牛肉和家禽这些农产品的出口税，要么到10月31号停，要么 出口额到70亿美元停。 ...

Core Points - Vietnam is facing significant pressure from both the United States and the European Union, leading to a series of concessions that highlight its precarious position in global trade dynamics [1][2][19] - The EU's visit to Vietnam is not a spontaneous event but a calculated move, as evidenced by the growing trade deficit, which surpassed $50 billion in 2024 and is projected to approach $30 billion in the first half of 2025 [2][4] - The EU's demands focus on the removal of non-tariff barriers in various sectors, particularly agriculture and automotive, reflecting long-standing grievances from European producers [5][19] Trade Dynamics - The trade relationship between the EU and Vietnam has been imbalanced since the signing of the EU-Vietnam Free Trade Agreement in 2019, with Vietnam's exports surging while imports from the EU have remained stagnant [4][5] - The EU's approach has shifted from multilateralism to a more aggressive stance, leveraging its market size to impose demands on Vietnam, mirroring tactics previously employed by the United States [7][19] Economic Strategy - Vietnam's economy is heavily reliant on exports, with nearly one-third of its total exports going to the United States, limiting its negotiating power and forcing it to make concessions [9][10] - In response to external pressures, Vietnam's government has initiated a strategy to diversify its export markets, aiming to establish free trade agreements with regions such as the Middle East, Africa, and Latin America by the end of 2025 [12][14] Challenges Ahead - Despite the strategic shift towards market diversification, the new markets may not offer the same economic benefits as the US and EU, posing challenges for Vietnam's export growth [14][17] - Vietnam's ability to negotiate effectively with the EU is hampered by its limited bargaining power, making it vulnerable to more stringent demands in future negotiations [17][21] Broader Implications - The situation in Vietnam serves as a cautionary tale for other developing countries, illustrating the harsh realities of global trade where power dynamics often dictate terms [19][21] - The erosion of multilateralism in favor of bilateral agreements signifies a shift in global trade practices, compelling developing nations to navigate a complex landscape of competing interests [19][21]

Core Viewpoint - The trade cooperation between China and ASEAN in agricultural products has been thriving, showcasing complementary advantages and providing strong momentum for economic development, while highlighting its unique and important position in the global economic landscape [1] Trade Volume and Growth - In the first eight months of this year, China's import and export of agricultural products with ASEAN reached 290.6 billion yuan, a year-on-year increase of 9.7%, accounting for 20.1% of China's total agricultural product trade [1] - The trade volume between China and ASEAN has grown from over 870 billion yuan in 2004 to nearly 7 trillion yuan in 2024, marking a sevenfold increase and maintaining growth for nine consecutive years [1] Complementary Resource Endowments - ASEAN's tropical and subtropical regions provide a rich variety of tropical agricultural products, such as rubber, coffee, cocoa, and tropical fruits, which are highly favored by Chinese consumers [2] - In 2024, China is expected to import approximately 1.56 million tons of durian, valued at 6.99 billion USD, with nearly 60% sourced from Thailand [2] - China's vast territory allows for significant production of temperate and subtropical agricultural products, meeting ASEAN's diverse food consumption and processing needs [2] Industrial Structure Complementarity - China's advanced agricultural technology and strong competitiveness in agricultural machinery, feed production, and processing can support ASEAN countries in enhancing agricultural production efficiency [2] - ASEAN's primary agricultural products, such as rubber and palm oil, are essential raw materials for China's manufacturing industries, contributing to stable production in sectors like tire manufacturing and food processing [2] Market Demand Alignment - China's large consumer market provides ample space for ASEAN agricultural products, with rising demand for tropical fruits and specialty seafood driven by improved living standards [3] - The rise of e-commerce platforms has expanded the channels for ASEAN agricultural products to enter the Chinese market, facilitating access for unique products [3] - ASEAN's steady demand for Chinese processed agricultural products and feed further diversifies consumption options in the region [3] Trade Category Complementarity - The trade between China and ASEAN features distinct advantages, with ASEAN exporting fruits, cassava, and palm oil, enriching China's agricultural market [3] - China exports down feathers and animal feed to ASEAN, which are well-received and support local industries, enhancing trade cooperation [3] Policy and Cooperation Mechanisms - The implementation of the Regional Comprehensive Economic Partnership (RCEP) has created favorable conditions for agricultural trade, with over 90% of regional trade achieving zero tariffs [4] - The completion of negotiations for the upgraded version of the China-ASEAN Free Trade Area 3.0 will facilitate broader cooperation in emerging fields like digital and green economies [4] Infrastructure Connectivity - The operation of the China-Laos Railway has significantly boosted trade, with over 60,000 freight trains and a cargo volume exceeding 67.6 million tons, including over 15 million tons of cross-border goods [4] - Improved cold chain and storage facilities along the railway enhance the efficiency and cost-effectiveness of transporting ASEAN agricultural products [4] Future Outlook - The digital economy is expected to empower trade upgrades, with e-commerce integration breaking spatial limitations and big data analysis enabling precise supply-demand matching [6] - There is significant potential for cooperation in green agriculture and sustainable development, with China providing technical experience in ecological agriculture and organic farming [7] - The integration of supply chains will enhance regional competitiveness, optimizing resource allocation and production efficiency through the RCEP and the upgraded free trade area [7]

取消扣税 阿根廷米莱总统自上任以来，以激进的财政紧缩和自由市场改革著称。市场原本期待这些政策能稳定经济，然而，在月初一场关键的地方选举失 利后，阿根廷外汇市场陷入动荡，阿根廷比索对美元汇率近一个月来大幅贬值，债券和股票市场也同步下跌。汇率崩盘的压力下阿根廷政府采取 了一系列救市措施，包括抛售外汇储备和临时取消农产品出口关税，希望借此促使出口商将更多的美元收入汇回国内，缓解比索的贬值压力。 当地时间周一，阿根廷政府相继宣布临时取消谷物和牛肉、家禽的出口税。就在本周一开市前，阿政府宣布在10月31日前对大豆等谷物取消预扣 税。经过多次下调后，大豆的出口税率为26%，副产品（豆粕和豆油）的税率为24.5%。 据悉，与谷物一样，从9月23日开始至今年10月31日，牛肉和家禽的预扣税从原有的5%降至零。同时要求，出口商必须在相应的出口销售申报单 （DJVE）提交的3个工作日内，在外汇市场（MULC）结算至少90%的外汇，无论是用于出口收款、结算预付款，还是外部预融资或后融资。 据阿根廷媒体报道，取消出口预扣税是为了推动该国农业部门出口更多农产品，以增加美元供给、稳定本币汇率。阿根廷总统发言人阿多尼通过 社交网络宣布：" ...

Group 1 - The core theme of the articles revolves around the cultural and economic ties between Spain and China, particularly through the medium of food, which serves as a platform for emotional connection and cultural exchange [1][3]. - Spain is enhancing its position as a strong player in the European agricultural and food industry, with a projected agricultural product export value exceeding €75 billion in 2024, marking a historical high and making it the fourth largest exporter in the EU [3]. - The importance of the Chinese market is growing for Spanish agricultural exports, with Spain exporting over €1.86 billion worth of agricultural products to China last year, accounting for approximately 2.5% of its total exports [3]. Group 2 - Spain's food exports to China are expanding, particularly in categories like pork and olive oil, with Spain becoming the largest supplier of pork (excluding offal) to China in 2024, importing 295,000 tons, which represents 27.6% of China's pork imports [5]. - Recent bilateral agreements have led to an increase in the variety of Spanish agricultural products allowed into China, including almonds, cherries, wild-caught seafood, and poultry, with a new consensus reached on expanding pork exports [5]. - The Mediterranean diet, which Spain promotes, is recognized for its health benefits and is seen as a valuable cultural exchange, with products like pork, olive oil, wine, and fresh fruits representing this lifestyle [3][5].

Investment Rating - The report maintains a "Recommended" rating for the agricultural, forestry, animal husbandry, and fishery industry [1] Core Viewpoints - The report emphasizes the ongoing adjustment in the pig industry, highlighting the potential for value reassessment due to production capacity control and low-cost performance realization [3][16] - The poultry sector is expected to see improvements in fundamentals, with a focus on the white feather chicken breeding segment and price trends [4][29] - The animal health sector is witnessing a competitive landscape improvement and technological innovation, with several new products receiving clinical approval [5][37] - The pet economy is thriving, with domestic brands rapidly emerging, indicating sustained profitability improvements in the sector [9][59] Summary by Sections Pig Industry - Continuous deepening of pig price control measures is noted, with a focus on maintaining prices within a reasonable range [3][16] - Current average pig price is 13.15 yuan/kg, with a slight weekly decline [15] - Recommended companies include Muyuan Foods and Wens Foodstuffs, with ongoing recommendations for Juxing Agriculture and Shennong Group [3][16] Poultry Industry - The white feather chicken breeding segment shows potential for improvement, with significant updates in breeding stock [4][29] - Current prices for white feather chicken and related products are stable, with slight fluctuations noted [27][28] Animal Health Industry - The competitive landscape is improving, with notable profit differentiation among leading companies [5][36] - Several new vaccines have received clinical approval, marking significant advancements in the sector [5][37] Planting Industry - Prices for corn and soybean meal have shown a week-on-week decline, with ongoing commercialization of genetically modified seeds benefiting early adopters [7][42] Feed Industry - Feed prices are experiencing fluctuations, with a noted increase in production volume [8][48] - Recommended companies include Haida Group, with a focus on rising industry concentration [8][49] Pet Industry - The pet market is projected to reach 300.2 billion yuan in 2024, with a notable increase in consumer spending on pets [9][58] - Recommended companies in the pet food sector include Guobao Pet and Zhongchong Co., with a focus on the growing pet medical segment [9][59]

Core Viewpoint - The Philippines has lifted the temporary import ban on poultry and related products from Israel and South Dakota, USA, due to the control of avian influenza outbreaks in these regions [1]. Group 1: Import Policy Changes - The Department of Agriculture in the Philippines will now allow the importation of poultry, wild birds, poultry meat, day-old chicks, and hatching eggs from Israel and South Dakota [1]. - The decision to lift the ban is based on scientific evidence and international reporting standards, aiming to ensure both biosecurity and stable supply of poultry products [1]. Group 2: Health and Safety Assurance - The World Organisation for Animal Health has confirmed that veterinary authorities in Israel and South Dakota have not reported any cases of highly pathogenic avian influenza since mid-July [1].

Core Viewpoint - Weihai City is committed to implementing green development strategies in agriculture and rural areas, focusing on sustainable practices and resource conservation to achieve significant progress by 2025 [3][4]. Group 1: Agricultural Development - The quality of arable land has steadily improved, with 830,000 acres of high-standard farmland constructed since 2019 and a 100% safety utilization rate of arable land for five consecutive years [4]. - The area of arable land reached 2.503 million acres, an increase of approximately 70,000 acres compared to 2021, with the quality rating improving by 0.2 levels [4]. - The proportion of large-scale planting of major grain crops increased by 35 percentage points to 48% compared to 2021 [4]. Group 2: Waste Utilization - The comprehensive utilization rate of straw remains above 96%, with multiple methods employed for its recycling [5]. - The city promotes the scientific use and recovery of agricultural film, with 80,000 acres utilizing high-strength and fully biodegradable films [5]. - The resource utilization of livestock manure has improved significantly, positioning Weihai among the top in the province [5]. Group 3: Quality Agricultural Products - The number of certified agricultural products reached 249, with 34 organic food certifications, ranking first in the province [6]. - A comprehensive quality safety monitoring system from farm to table has been established, maintaining a monitoring pass rate of over 98.5% for several years [6]. - New crop varieties have been introduced, including 52 new species of apples, sweet potatoes, potatoes, peanuts, and corn [6]. Group 4: Rural Environment Improvement - A village cleaning campaign mobilized 59,000 participants, resulting in the removal of 4,163 tons of waste and cleaning 1,684 kilometers of village ditches [7]. - The city has built 12 centralized treatment stations for rural toilet waste resource utilization [7]. - A total of 195 provincial and 600 municipal beautiful villages have been created, focusing on the integration of production, life, and ecology [7]. Group 5: New Agricultural Productivity - Policies supporting rural revitalization have been implemented, promoting facility agriculture, smart agriculture, and ecological circular agriculture [8]. - More than 10 modern facility agricultural bases have been established, with over 5,000 acres of facility apples and 300 acres of facility vegetables [8]. - The growth rate of modern high-efficiency agriculture is projected to reach 7.2% in 2024, ranking sixth in the province [8].