Core Viewpoint - Juxing Agriculture and Animal Husbandry, established in December 2013 and listed in December 2017, is a leading integrated enterprise in breeding, feed production, and leather business in China, with a full industry chain advantage and advanced breeding technology [1] Business Performance - In Q3 2025, Juxing's revenue was 5.639 billion, ranking 6th among 12 companies in the industry, significantly lower than the top company Muyuan Foods at 111.79 billion and second-ranked New Hope at 80.504 billion, but slightly above the industry median of 5.515 billion and below the average of 25.654 billion [2] - The main business revenue composition includes 3.432 billion from pig farming (92.32%), 179 million from feed (4.80%), 101 million from leather products (2.72%), and 5.9249 million from other sources (0.16%) [2] - The net profit for the period was 113 million, ranking 7th in the industry, far below Muyuan Foods' 15.112 billion and Wen's 5.417 billion, and also below the industry median of 186 million and average of 1.879 billion [2] Financial Ratios - As of Q3 2025, Juxing's debt-to-asset ratio was 66.62%, up from 60.81% year-on-year and above the industry average of 57.82%, indicating increased debt pressure [3] - The gross profit margin for Q3 2025 was 10.44%, down from 17.84% year-on-year and below the industry average of 14.00%, reflecting a decline in profitability [3] Executive Compensation - The chairman, Duan Lifeng, received a salary of 1.476 million in 2024, an increase of 399,500 from 2023 [4] - The general manager, Tang Chunxiang, received a salary of 1.4028 million in 2024, an increase of 953,000 from 2023 [4] Shareholder Information - As of September 30, 2025, the number of A-share shareholders increased by 23.11% to 44,700, with an average holding of 11,400 circulating A-shares, down by 18.77% [5] - Among the top ten circulating shareholders, the Guotai CSI Livestock Breeding ETF ranked sixth with 5.6501 million shares, an increase of 2.0204 million shares from the previous period [5] Production and Future Outlook - Juxing's pig output increased steadily to 2.9342 million heads in Q1-Q3 2025, a year-on-year increase of 69%, although pig prices fell, leading to losses in Q3 [6] - The company is expected to achieve revenues of 7.541 billion, 7.917 billion, and 8.733 billion from 2025 to 2027, with net profits of 120 million, 448 million, and 839 million respectively [6]

Group 1 - The 2025 Hebei Province Leather Industry "Wuji Cup" Leather Processing Skills Competition concluded in Wuji County, featuring 72 participants from across the country [1][3] - The competition included theoretical and practical assessments, with Ding Xiao from Hebei Gongnei Aichi Leather Co., Ltd. winning first place due to his strong theoretical knowledge and practical skills [1][3] - The competition focused on the practical core of cowhide leather finishing, evaluating participants' understanding of material properties, process flows, and innovative design capabilities [3] Group 2 - The event also served as a platform for technical exchange and talent connection within the industry, enhancing participants' understanding of "craftsmanship" [3] - Concurrently, the 2025 Hebei Wuji Ecological Leather Industry Exhibition featured 156 participating companies from various regions, covering sectors such as leather processing, leather goods, apparel, and green home furnishings [3][5] - Wuji County's leather industry has developed a complete industrial chain over 40 years, processing 1.1 billion square feet of leather products annually, with an output value of 34.8 billion yuan [4]

Core Viewpoint - The stock of Juxing Agriculture and Animal Husbandry has experienced a decline of 2.01% on October 17, with a current price of 19.50 CNY per share, reflecting a total market capitalization of 9.946 billion CNY. The company has shown a year-to-date stock price increase of 10.91% but has faced recent declines over various trading periods [1]. Financial Performance - For the first half of 2025, Juxing Agriculture and Animal Husbandry reported a revenue of 3.717 billion CNY, marking a year-on-year growth of 66.49%. The net profit attributable to shareholders reached 181 million CNY, representing a significant increase of 504.12% [2]. Shareholder Information - As of June 30, 2025, the number of shareholders for Juxing Agriculture and Animal Husbandry stood at 36,300, an increase of 0.70% from the previous period. The average number of circulating shares per shareholder decreased by 0.70% to 14,044 shares [2]. Dividend Distribution - Since its A-share listing, Juxing Agriculture and Animal Husbandry has distributed a total of 222 million CNY in dividends, with 102 million CNY distributed over the past three years [3]. Institutional Holdings - As of June 30, 2025, among the top ten circulating shareholders, Yinhua Domestic Demand Selected Mixed Fund (161810) held 6.75 million shares, a decrease of 730,000 shares from the previous period. New institutional investors include Guotai Zhongzheng Livestock Breeding ETF (159865), which holds 3.6297 million shares [3].

Core Viewpoint - The stock of Juxing Agriculture and Animal Husbandry has experienced fluctuations, with a recent decline of 2.05% and a year-to-date increase of 17.11% [1][2]. Company Overview - Juxing Agriculture and Animal Husbandry Co., Ltd. was established on December 24, 2013, and listed on December 18, 2017. The company is located in Chengdu, Sichuan Province [2]. - The main business activities include breeding and feed production and sales, as well as the research, manufacturing, and sales of mid-to-high-end natural leather [2]. - The revenue composition is as follows: 92.32% from pig breeding, 4.80% from feed, 2.72% from leather products, and 0.16% from other sources [2]. Financial Performance - For the first half of 2025, Juxing Agriculture achieved a revenue of 3.717 billion yuan, representing a year-on-year growth of 66.49%. The net profit attributable to shareholders was 181 million yuan, with a significant increase of 504.12% [2]. - The company has distributed a total of 222 million yuan in dividends since its A-share listing, with 102 million yuan distributed in the last three years [3]. Shareholder Information - As of June 30, 2025, the number of shareholders was 36,300, an increase of 0.70% from the previous period. The average circulating shares per person decreased by 0.70% to 14,044 shares [2]. - The top ten circulating shareholders include various funds, with notable changes in holdings, such as a decrease in shares held by Yin Hua Needy Selected Mixed Fund and a new entry by Guotai Zhongzheng Livestock Breeding ETF [3].

Core Viewpoint - The company, Juxing Agriculture and Animal Husbandry, has shown significant growth in revenue and net profit for the first half of 2025, indicating strong operational performance in the agricultural sector [2]. Financial Performance - As of June 30, 2025, Juxing Agriculture achieved a revenue of 3.717 billion yuan, representing a year-on-year increase of 66.49% [2]. - The net profit attributable to shareholders reached 181 million yuan, marking a substantial year-on-year growth of 504.12% [2]. Stock Performance - On September 4, 2023, the stock price increased by 2.06%, reaching 20.80 yuan per share, with a total market capitalization of 10.609 billion yuan [1]. - Year-to-date, the stock price has risen by 18.30%, although it has experienced slight declines over the past 5 days (0.95%), 20 days (0.81%), and 60 days (6.44%) [1]. Shareholder Information - As of June 30, 2025, the number of shareholders increased to 36,300, with an average of 14,044 circulating shares per shareholder, a decrease of 0.70% [2]. - The company has distributed a total of 222 million yuan in dividends since its A-share listing, with 102 million yuan distributed over the past three years [3]. Institutional Holdings - Notable changes in institutional holdings include a reduction in shares held by major funds, such as Yinhua Domestic Demand Selected Mixed Fund and Zhong Ou Times Pioneer Stock A, while the Guotai Zhongzheng Livestock Breeding ETF has entered as a new major shareholder [3].