（原标题：益生股份(002458.SZ)：预计2026年公司父母代鸡苗的供应量较2025年增加） 格隆汇2月27日丨益生股份(002458.SZ)在投资者互动平台表示，2025年公司引进祖代白羽肉种鸡26.6万 套，引种量同比增加，祖代种鸡存栏量充足，预计2026年公司父母代鸡苗的供应量较2025年增加，后续 公司将持续关注国外引种情况。 ...

（文章来源：每日经济新闻） 每经AI快讯，益生股份（002458.SZ）2月27日在投资者互动平台表示，2025年公司引进祖代白羽肉种鸡 26.6万套，引种量同比增加，祖代种鸡存栏量充足，预计2026年公司父母代鸡苗的供应量较2025年增 加。后续公司将持续关注国外引种情况。 ...

证券日报网讯2月12日，益生股份（002458）在互动平台回答投资者提问时表示，受国外禽流感影响， 我国暂时无法从国外引进祖代白羽肉种鸡。2026年2月和3月公司暂无引种计划。2025年公司引进祖代白 羽肉种鸡26.6万套，引种量同比增加，预计2026年公司父母代鸡苗的供应量较2025年增加，目前的引种 暂停对公司2026年的父母代产量没有大的影响，公司将密切关注国外禽流感的进展情况，做好和国外育 种公司的沟通工作。 ...

格隆汇2月12日丨益生股份(002458.SZ)在投资者互动平台表示，受国外禽流感影响，我国暂时无法从国 外引进祖代白羽肉种鸡。2026年2月和3月公司暂无引种计划。2025年公司引进祖代白羽肉种鸡26.6万 套，引种量同比增加，预计2026年公司父母代鸡苗的供应量较2025年增加，目前的引种暂停对公司2026 年的父母代产量没有大的影响，公司将密切关注国外禽流感的进展情况，做好和国外育种公司的沟通工 作。 ...

南财智讯2月9日电，益生股份在投资者关系活动中表示，2025年我国祖代白羽肉种鸡引种量同比下降超 过10%，叠加2025年11—12月法国主产区暴发禽流感，当前祖代肉种鸡引种处于暂停状态；根据养殖周 期传导规律，祖代减少将在7个月后传导至父母代鸡苗环节，预计父母代鸡苗供给偏紧，价格继续上 行。 ...

证券日报网2月8日讯，益生股份（002458）在接受调研者提问时表示，公司2026年2月父母代鸡苗报价 为60元/套，4月底前公司的父母代鸡苗销售计划已全部订完。 ...

Group 1 - The white chicken industry is expected to gradually improve in supply by 2026, driven by a rebound in prices and the impact of avian influenza on overseas breeding, which supports upstream breeding prices [1][3] - In 2025, the white chicken industry maintained a marginal profit, with a significant trend towards vertical integration across the entire industry chain, as evidenced by the top 10 slaughtering companies accounting for 46% of total slaughter volume [1][2] - Domestic breeding has accelerated due to the interruption of overseas breeding, with domestic breeds showing advantages in disease resistance and adaptability, leading to a 33.6% share of domestic breeds in the total breeding update [2] Group 2 - The inventory of parent stock is expected to decline gradually in 2026, with a projected decrease of approximately 3.3% and 12% year-on-year in March and April respectively, indicating a potential improvement in supply by the second half of 2026 [3] - The overall supply of the white chicken industry is anticipated to improve in 2026, with the breeding sector likely to achieve profitability, although capacity adjustments remain a significant factor affecting supply stability [3]

Group 1 - The company plans to introduce 266,000 sets of grandparent white feather broiler chickens in 2025, indicating a sufficient stock of grandparent breeding chickens [1] - The supply of parent generation chicks is expected to increase in 2026 compared to 2025 [1] - The projected sales volume of commercial generation chicks for 2026 is over 600 million, with a significant increase in breeding pig sales expected to reach 150,000 heads compared to 2025 [1]

Investment Rating - The industry investment rating is "Buy" [2] Core Insights - The poultry industry is expected to see an improvement in the supply chain in 2026, driven by a rebound in prices and a gradual recovery in profitability for the breeding sector [5][91] - The integration trend within the industry is becoming more pronounced, with leading companies benefiting from their downstream channel advantages and collaborative efforts across the supply chain [5][24] - The domestic poultry sector is experiencing a shift towards self-breeding and the replacement of imported breeds due to disruptions caused by avian influenza outbreaks abroad [5][39] Summary by Sections 1. 2025 Poultry Industry Maintains Marginal Profitability, Clear Integration Trend - The poultry industry maintained marginal profitability in 2025, with upstream breeding segments performing better than downstream farming and processing sectors [5][14] - The average price of parent stock chicks in 2025 was 44.75 CNY/set, a slight decrease of 0.7% year-on-year, while the average price of commercial chicks was 2.51 CNY each, down 13% year-on-year [5][17] - The total slaughter volume of the top 10 companies reached 4.274 billion birds, accounting for 45.99% of the market, indicating a trend towards consolidation [5][24] 2. Avian Influenza Disrupts Imports, Accelerates Domestic Breed Replacement - In 2025, the cumulative update of grandparent stock chickens was 1.574 million sets, a year-on-year increase of 4.9%, with domestic breeds accounting for approximately 60% of the updates [5][39] - The outbreak of avian influenza in France in December 2025 led to a halt in overseas imports, increasing the uncertainty of supply from abroad [5][46] - Domestic breeds are showing improved performance, with the replacement rate of domestic breeds rising to 34% in 2025 [5][57] 3. 2026 Supply Chain Expected to Improve, Capacity Elasticity Remains a Concern - The inventory of grandparent stock chickens is expected to decline in early 2026, with estimates showing a year-on-year decrease of approximately 3.3% and 12% in March and April, respectively [5][69] - The overall supply of the poultry industry is anticipated to gradually improve in 2026, with profitability expected to return to the breeding sector [5][87] - The report emphasizes the importance of monitoring parent stock chick sales as a key indicator of supply trends [5][76] 4. Investment Recommendations - The report suggests focusing on companies such as Shengnong Development, Yisheng, Minhe, Xiantan, and Hefeng, which are well-positioned to benefit from the ongoing integration and recovery in the poultry industry [5][91]

Investment Rating - The industry investment rating is "Recommended" [4] Core Viewpoints - The report indicates that after a rise, the price of broiler chickens has slightly decreased, while the price of chick seedlings has stabilized at a high level [2][9] - The report highlights that the supply of broiler chickens is currently tight due to external weather factors and chicken diseases affecting survival rates, which initially supported price increases [9] - The report suggests that the recent outbreak of highly pathogenic avian influenza in France may lead to a supply gap, potentially improving industry conditions [45] Summary by Sections Market Overview - In December, the average transaction price of broiler chickens was 3.68 yuan per jin, showing a trend of rising first and then falling [9] - The average price of chick seedlings for December was 3.56 yuan per chick, with prices initially rising due to demand from large-scale farms [9][12] Production Capacity - As of December 2025, the average stock of parent broiler chickens was 21.3 million sets, down 2.7% year-on-year [3][33] - The average stock of grandparent broiler chickens was 1.3586 million sets, up 6.4% year-on-year [32][35] Financial Performance - In December, the profit from broiler chicken farming was -0.26 yuan per bird, while the profit from hatcheries was 0.77 yuan per bird [40][42] - The report notes that the sales volume of broiler meat for Shengnong was 147,600 tons, up 14.24% year-on-year, and for Xiantan, it was 55,100 tons, up 11.99% year-on-year [21][27] Investment Recommendations - The report recommends focusing on companies such as Shengnong Development, Yisheng Shares, and Hefeng Shares due to potential supply gaps and ongoing improvements in domestic breeding efficiency [45]