Core Viewpoint - The visit of Mongolian chicken merchants to Ningxia Xiaoming Agricultural and Animal Husbandry Co., Ltd. highlights the company's technological advancements and strong market presence in both domestic and Mongolian markets, with a focus on enhancing product quality through innovation [1][2]. Group 1: Company Overview - Xiaoming Co. has been engaged in chicken farming in the Gobi Desert for 31 years, achieving a domestic market share of approximately 25% and over 50% in Mongolia [1]. - The company integrates breeding, technical research, incubation, and sales, and is recognized as a key national agricultural enterprise and a high-tech enterprise [1]. - Xiaoming Co. is the first listed company in China's egg-laying chicken industry, having gone public on the Shenzhen Stock Exchange in 2021 [1]. Group 2: Market Position and Growth - Since 2008, the supply of hatching eggs to Mongolia has increased from tens of thousands to over 2 million annually, significantly supporting the development of Mongolia's egg-laying industry [2]. - The unique geographical advantages of the Gobi Desert, including low fixed costs and high biosecurity, have contributed to the company's leading position in the egg-laying chicken industry [2]. Group 3: Technological Advancements and Collaboration - The Mongolian merchants evaluated Xiaoming Co.'s achievements in breeding management and biosecurity systems positively, expressing a desire to learn from the company's development experience [3]. - The discussions during the visit focused on improving hatching quality and optimizing supply chain management, indicating a commitment to ongoing collaboration [3]. - The company aims to continue enhancing chick quality through technological innovation and providing competitive products and services to both domestic and international clients [3].

Group 1: Company Performance - As of September 30, 2025, the company achieved a revenue of 1.024 billion yuan, representing a year-on-year growth of 58.98% [2] - The net profit attributable to the parent company for the same period was 183 million yuan, showing a significant year-on-year increase of 2243.97% [2] - The company has distributed a total of 93.93 million yuan in dividends since its A-share listing, with 37.14 million yuan distributed over the past three years [3] Group 2: Shareholder and Financing Information - As of November 21, 2023, the company had a total of 17,300 shareholders, an increase of 1.12% from the previous period [2] - The average number of circulating shares per shareholder was 7,211, which decreased by 1.10% compared to the previous period [2] - On November 21, 2023, the company recorded a financing buy-in amount of 14.68 million yuan, with a net financing buy of 4.22 million yuan, indicating a relatively high financing balance of 124 million yuan, accounting for 3.39% of the circulating market value [1]

Core Viewpoint - Xiaoming Co., Ltd. experienced a 5.03% decline in stock price, closing at 23.80 CNY per share, with a trading volume of 194 million CNY and a turnover rate of 6.43%, resulting in a total market capitalization of 4.464 billion CNY [1] Company Overview - Xiaoming Co., Ltd. is located in Yinchuan, Ningxia, and was established on July 5, 2011, with its IPO on April 13, 2021. The company primarily engages in the breeding of grandparent and parent generation egg-laying chickens, sales of parent generation chicks, commercial chicks, and related by-products. The revenue composition is as follows: chicken revenue accounts for 87.88%, by-product revenue for 12.10%, and other revenue for 0.02% [1] Shareholder Information - Among the top ten circulating shareholders of Xiaoming Co., Ltd., a fund under Guotai Fund ranks as a significant stakeholder. The Guotai Zhongzheng Livestock Breeding ETF (159865) entered the top ten circulating shareholders in the second quarter, holding 1.0756 million shares, which represents 0.86% of the circulating shares. The estimated floating loss today is approximately 1.3553 million CNY [2] Fund Performance - The Guotai Zhongzheng Livestock Breeding ETF (159865) was established on March 1, 2021, with a current scale of 3.574 billion CNY. Year-to-date, it has achieved a return of 21.09%, ranking 2427 out of 4222 in its category. Over the past year, the return is 40.97%, ranking 2759 out of 3804. Since inception, the fund has incurred a loss of 31.32% [2]