Investment Rating - The report maintains an "Overweight" rating for the agriculture, forestry, animal husbandry, and fishery industry [1][46] Core Insights - The profitability of pig farming has shown signs of recovery, with self-breeding pig farming profits turning positive [30] - The industry has slightly underperformed compared to the CSI 300 index, with a decline of 0.72% from January 5 to January 15, 2026, lagging behind the index by approximately 3.34 percentage points [14] - The report highlights the potential for price recovery in pig farming due to seasonal demand, and emphasizes the importance of capacity reduction in the breeding sector [46][48] Industry Performance Overview - The SW agriculture, forestry, animal husbandry, and fishery industry index has a current PB ratio of approximately 2.63, indicating a slight decline in valuation and positioning at about 59.2% of the historical average since 2006 [21] - Among the sub-sectors, animal health, fishery, agricultural product processing, and planting recorded positive returns, with increases of 8.52%, 4.59%, 1.77%, and 0.45% respectively, while feed and breeding sectors saw declines of 0.99% and 2.34% [17][18] Key Industry Data - The average price of external three-breed pigs fluctuated from 12.86 CNY/kg to 12.48 CNY/kg and then rebounded to 12.76 CNY/kg between January 2 and January 15, 2026 [22] - As of January 15, 2026, the average price of corn was 2363.82 CNY/ton and soybean meal was 3184 CNY/ton, both showing a recent increase [27] - The profit for self-breeding pig farming reached 7.39 CNY/head, while the profit for purchased pig farming was 48.35 CNY/head, indicating a shift from loss to profit [30] Company Insights - Key companies to watch include Muyuan Foods (002714), Wens Foodstuff Group (300498), and Shengnong Development (002299), which are positioned well for potential growth in the sector [48][49] - The report notes that the domestic pet market has growth potential, with exports expected to maintain rapid growth, highlighting opportunities in leading domestic companies [48]

Core Viewpoint - The approval of "Fluralaner Chewable Tablets" as a new veterinary drug by the Ministry of Agriculture and Rural Affairs marks a significant development for the company and its wholly-owned subsidiary, Luoyang Huizhong Veterinary Medicine Co., Ltd. [1] Group 1: Product Approval - The "Fluralaner Chewable Tablets" have been approved for the treatment of ectoparasite infections in dogs, specifically targeting ticks (Rhipicephalus sanguineus) and fleas (Ctenocephalides felis, Ctenocephalides canis) [1] - The product can be utilized as part of a treatment plan for flea allergy dermatitis [1] Group 2: Market Context - Currently, the company has not been able to find information regarding the sales status and market share of similar products available in the market through public channels [1]

Core Viewpoint - The company, Pulaike (603566.SH), has received approval from the Ministry of Agriculture and Rural Affairs for its new veterinary drug, "Fluralaner Chewable Tablets," which is aimed at treating external parasites in dogs [1] Group 1: Product Approval - The new veterinary drug has been officially registered and is set to be effective as of January 7, 2026, following the issuance of the New Veterinary Drug Registration Certificate [1] - The approval was granted based on the regulations outlined in the Veterinary Drug Management Regulations and the Veterinary Drug Registration Measures [1] Group 2: Indications and Usage - The drug is indicated for the treatment of external parasites in dogs, specifically targeting ticks (Rhipicephalus sanguineus) and fleas (Ctenocephalides felis, Ctenocephalides canis) [1] - It can also be used as part of a treatment plan for flea allergy dermatitis [1]

普莱柯公告称，经农业农村部审查，批准公司及全资子公司洛阳惠中兽药有限公司等联合申报的"氟雷 拉纳咀嚼片"为新兽药，并公示核发《新兽药注册证书》。该兽药为二类，主要成分氟雷拉纳，用于治 疗犬体表蜱虫、跳蚤感染。其驱杀作用可持续12周，采用软咀嚼片制备工艺，适口性好。产品上市前还 应取得兽药产品批准文号，这对公司提升竞争力、推动宠物板块业绩增长有积极作用。 ...

格隆汇1月8日丨普莱柯(603566.SH)公布，根据《兽药管理条例》和《兽药注册办法》规定，经农业农 村部审查，批准公司及全资子公司洛阳惠中兽药有限公司等单位联合申报的"氟雷拉纳咀嚼片"为新兽 药，并于2026年1月7日公示了核发《新兽药注册证书》（中华人民共和国农业农村部公告第986号）事 项。 适应症：用于治疗犬体表的蜱虫（血红扇头蜱）、跳蚤（猫栉首蚤、犬栉首蚤）感染，可作为控制跳蚤 过敏性皮炎方案的一部分来应用。 ...