Core Viewpoint - The animal health sector experienced a rise of 1.55% on January 9, with significant contributions from leading stocks like Biological Shares, which surged by 4.76% [1]. Group 1: Market Performance - The Shanghai Composite Index closed at 4120.43, up by 0.92%, while the Shenzhen Component Index closed at 14120.15, up by 1.15% [1]. - The top-performing stock in the animal health sector was Biological Shares (600201), closing at 17.40 with a gain of 4.76% and a trading volume of 683,900 shares, amounting to a transaction value of 1.179 billion yuan [1]. Group 2: Stock Performance Summary - Other notable stocks included: - Shunlian Biological (688098) at 9.67, up by 1.90% with a trading volume of 64,900 shares [1]. - Zhongmu Shares (600195) at 8.10, up by 1.25% with a trading volume of 138,100 shares [1]. - Ruipu Biological (300119) at 19.90, up by 1.12% with a trading volume of 154,700 shares [1]. - Haili Biological (603718) at 6.48, up by 0.78% with a trading volume of 124,600 shares [1]. Group 3: Capital Flow Analysis - The animal health sector saw a net outflow of 27.3879 million yuan from institutional investors, while retail investors contributed a net inflow of 90.8993 million yuan [2]. - The capital flow for specific stocks showed: - Haili Biological had a net inflow of 10.2913 million yuan from institutional investors [3]. - Jinhe Biological experienced a net inflow of 2.8449 million yuan from institutional investors [3]. - *ST Green Kang (002868) had a net inflow of 1.8780 million yuan from institutional investors [3].

Core Viewpoint - The animal health sector experienced a 0.99% increase on January 8, with leading gains from BioShares, while the overall market indices showed slight declines [1]. Group 1: Market Performance - The Shanghai Composite Index closed at 4082.98, down 0.07%, and the Shenzhen Component Index closed at 13959.48, down 0.51% [1]. - The animal health sector stocks showed varied performance, with BioShares leading the gains at 3.10% [1]. Group 2: Stock Performance - Key stocks in the animal health sector included: - BioShares (600201) closed at 16.61 with a 3.10% increase and a trading volume of 517,400 shares, totaling 853 million yuan [1]. - Huisheng Biological (300871) closed at 22.46, up 2.23%, with a trading volume of 86,000 shares, totaling 193 million yuan [1]. - Dayu Biological (920970) closed at 8.02, up 2.17%, with a trading volume of 19,900 shares, totaling 15.81 million yuan [1]. - Other notable stocks included PlaiKe (603566) and Shunlian Biological (688098), with increases of 1.90% and 1.71% respectively [1]. Group 3: Capital Flow - The animal health sector saw a net inflow of 10.1262 million yuan from institutional investors, while retail investors contributed a net inflow of 37.4241 million yuan [2]. - Notably, the main funds showed a net outflow of 47.5503 million yuan from speculative funds [2]. Group 4: Detailed Capital Flow by Stock - BioShares (600201) had a net inflow of 40.3094 million yuan from main funds, while it experienced a net outflow of 8.4352 million yuan from speculative funds [3]. - Gold River Biological (002688) saw a net inflow of 13.2219 million yuan from main funds, with a net outflow of 3.8181 million yuan from speculative funds [3]. - ST Green Health (002868) had a net inflow of 9.7760 million yuan from main funds, but a significant net outflow of 20.7609 million yuan from speculative funds [3].

Core Viewpoint - The animal health sector experienced a significant increase of 3.8% on January 5, with Haili Biological leading the gains, while the overall market indices also showed positive performance [1] Group 1: Market Performance - The Shanghai Composite Index closed at 4023.42, up by 1.38% [1] - The Shenzhen Component Index closed at 13828.63, up by 2.24% [1] Group 2: Individual Stock Performance - Haili Biological (603718) closed at 6.58, with a rise of 7.87% and a trading volume of 461,200 shares, amounting to a transaction value of 302 million yuan [1] - Biological Shares (600201) closed at 16.06, increasing by 6.57% with a trading volume of 553,300 shares, totaling 88.5 million yuan [1] - ST Green Health (002868) closed at 35.40, up by 5.01% with a trading volume of 14,600 shares, amounting to 5.124 million yuan [1] - Shunlian Biological (688098) closed at 9.29, increasing by 4.62% with a trading volume of 65,000 shares, totaling 60.117 million yuan [1] - Ruipu Biological (300119) closed at 19.53, up by 4.05% with a trading volume of 78,500 shares, amounting to 151 million yuan [1] - KQ Biological (688526) closed at 15.68, increasing by 2.75% with a trading volume of 29,900 shares, totaling 46.631 million yuan [1] - Huisheng Biological (300871) closed at 21.25, up by 2.51% with a trading volume of 61,500 shares, amounting to 129 million yuan [1] - Qudongli (920275) closed at 8.91, increasing by 2.30% with a trading volume of 10,300 shares, totaling 911,930 yuan [1] - Placo (603566) closed at 12.71, up by 2.25% with a trading volume of 36,700 shares, amounting to 46.3405 million yuan [1] - Jinhai Biological (002688) closed at 6.03, increasing by 1.34% with a trading volume of 105,100 shares, totaling 63.2745 million yuan [1] Group 3: Capital Flow Analysis - The animal health sector saw a net inflow of 77.0149 million yuan from main funds, while retail funds experienced a net outflow of 33.0955 million yuan [1] - The main funds' net inflow for Haili Biological was -54.2922 million yuan, with a net outflow from retail funds of -35.0631 million yuan [2] - Ruipu Biological had a net inflow of 15.0755 million yuan from main funds, while retail funds saw a net inflow of 555.73 thousand yuan [2] - Biological Shares had a net inflow of 1.5843 million yuan from main funds, with a net outflow from retail funds of -1529.42 thousand yuan [2]

Core Viewpoint - The animal health sector experienced a slight decline of 0.05% on December 31, with Xianfeng Holdings leading the drop. The Shanghai Composite Index rose by 0.09%, while the Shenzhen Component Index fell by 0.58 [1] Group 1: Market Performance - The closing price of Xianfeng Holdings was 3.73, down by 2.61%, with a trading volume of 182,700 shares and a transaction amount of 68.47 million [2] - The animal health sector's main stocks showed mixed performance, with *ST Lvkang rising by 2.46% to 33.71, while several others, including Xianfeng Holdings and Ruipu Bio, saw declines [1][2] - The total trading volume in the animal health sector was significant, with major stocks like Ruipu Bio and Xianfeng Holdings contributing to the overall market activity [2] Group 2: Capital Flow - The animal health sector saw a net outflow of 45.26 million from institutional investors, while retail investors contributed a net inflow of 39.94 million [2] - The capital flow data indicates that retail investors were more active in the market, with a notable net inflow compared to the outflow from institutional investors [2] - Specific stocks like Huisheng Bio and *ST Lvkang had varying levels of net inflow and outflow from different investor categories, reflecting diverse investor sentiment [3]

Group 1 - The article highlights the behavior of margin traders, indicating that investors are looking for investment opportunities through their activities [1] - On December 30, a total of 3,757 stocks received margin buying funds, with the top three stocks being Sanhua Intelligent Controls at 2.296 billion, Zhongji Xuchuang at 2.293 billion, and Xinyi Sheng at 1.910 billion [1] - Among the stocks with significant margin buying, 10 stocks had a margin buying amount that exceeded 30% of their total trading volume [1] Group 2 - The top stocks by margin buying amount and their respective trading volumes and percentages are detailed, with notable mentions including Qingtang City at 24.35 million and Daya Shengxiang at 12.86 million [2] - The data shows that the margin buying percentage for several stocks is high, with Qingtang City at 43.09%, Daya Shengxiang at 40.80%, and Guangming Meat Industry at 35.66% [1][2] - The article provides a comprehensive table listing various stocks, their margin buying amounts, total trading amounts, margin buying percentages, and daily price changes [1][2]

Group 1 - The animal vaccine sector experienced a decline of 0.47%, ranking among the top losers in concept sectors, with notable declines from companies like BioShares, Luo Niu Shan, and Tian Kang Bio [1] - Among the stocks in the animal vaccine sector, 10 stocks saw price increases, with Hengtong Co., Hai Zheng Pharmaceutical, and Hai Li Bio leading the gains at 3.67%, 0.69%, and 0.48% respectively [1] - The main capital outflow from the animal vaccine sector today was 87 million yuan, with 14 stocks experiencing net outflows, led by Luo Niu Shan with a net outflow of 95.06 million yuan [2] Group 2 - The top net inflow stocks in the animal vaccine sector included BioShares, Da Bei Nong, and Zhong Mu Co., with net inflows of 46.84 million yuan, 6.50 million yuan, and 3.83 million yuan respectively [2][3] - The capital outflow leaderboard for the animal vaccine sector included Luo Niu Shan, Hengtong Co., and Rui Pu Bio, with respective outflows of 95.06 million yuan, 11.49 million yuan, and 7.66 million yuan [2][3] - The trading activity showed that Luo Niu Shan had a turnover rate of 16.52%, while other companies like Hengtong Co. and Tian Kang Bio had turnover rates of 3.51% and 1.98% respectively [2][3]

Investment Rating - The report maintains a "Recommended" rating for the agriculture, forestry, animal husbandry, and fishery industry [1] Core Insights - The swine industry is entering an accelerated phase of capacity reduction, with a focus on positioning at the bottom of the market. Regulatory measures are being reinforced to stabilize pig prices, which are expected to face downward pressure in the short term due to increased market supply [3][15] - The poultry sector shows signs of fundamental improvement, with a focus on the white feather chicken breeding segment and potential price recovery in the future [4][28] - The animal health sector is closely monitoring the clinical trial progress of African swine fever vaccines, which could enhance market conditions for leading companies in the sector [5][38] - The pet industry continues to experience rapid growth, with domestic brands gaining strength and improving profitability [8][60] Summary by Sections Swine Industry - The average price of live pigs is reported at 11.53 CNY/kg, with a slight weekly increase. The number of breeding sows has decreased by 1.1% month-on-month [14][15] - Key investment recommendations include leading companies such as Muyuan Foods and Wens Foodstuffs, with additional attention on Dekang Agriculture and Shennong Group [3][15] Poultry Industry - The white feather chicken breeding segment has seen a total of 107.21 thousand sets updated from January to October 2025, with a balanced import and self-breeding ratio [4][28] - Recommended companies in this sector include San Nong Development and Lihua Shares [4][28] Animal Health - The animal health industry has faced losses for over three months, with expectations of continued low pig prices. The clinical trials for the African swine fever vaccine are a critical step towards commercialization [5][38] - Companies to watch include BioStock, Kexin Biological, and Ruipu Biological [5][38] Planting Industry - Grain prices are fluctuating, with corn prices at 2244 CNY/ton and wheat prices at 2515 CNY/ton. The pig-to-grain ratio is reported at 5.03 [44][48] - Investment suggestions focus on companies with strong positions in genetically modified seeds, such as Suqian Agricultural Development and Longping High-Tech [6][48] Feed Industry - Feed prices are experiencing fluctuations, with pig feed priced at 3.33 CNY/kg and chicken feed at 3.45 CNY/kg. The industry is expected to see increased concentration [49][50] - Recommended companies include Haida Group and He Feng Shares [49][50] Pet Industry - The pet market is projected to reach 300.2 billion CNY in 2024, with a year-on-year growth of 7.5%. The number of pet dogs and cats is also on the rise [59][60] - Recommended companies in the pet food sector include Guibao Pet, Zhongchong Shares, and Petty Shares [59][60]

Core Insights - The animal health sector experienced a slight increase of 0.42% on December 19, with Huisheng Biological leading the gains [1] - The Shanghai Composite Index closed at 3890.45, up 0.36%, while the Shenzhen Component Index closed at 13140.22, up 0.66% [1] Stock Performance - Huisheng Biological (300871) closed at 20.75, with a rise of 2.47% and a trading volume of 45,200 shares, amounting to a transaction value of 92.96 million yuan [1] - Other notable performers included: - Qudongli (920275) at 9.27, up 2.43% [1] - Shenlian Biological (688098) at 9.01, up 2.15% [1] - Xianfeng Holdings (002141) at 3.74, up 1.91% [1] - Ruipu Biological (300119) at 19.60, up 1.87% [1] Capital Flow - The animal health sector saw a net outflow of 129 million yuan from institutional investors, while retail investors contributed a net inflow of 157 million yuan [2][3] - The detailed capital flow for selected stocks showed: - Xianfeng Holdings (002141) had a net inflow of 6.89 million yuan from institutional investors [3] - Ruipu Biological (300119) experienced a net outflow of 15.98 million yuan from institutional investors but a net inflow of 11.27 million yuan from retail investors [3] - Qudongli (920275) had a net inflow of 2.22 million yuan from retail investors [3]

Investment Rating - The report maintains a positive outlook on leading agricultural companies, suggesting investment opportunities in the sector [5]. Core Insights - The agricultural sector has shown resilience, with the industry index outperforming the broader market by 0.4 percentage points during the week of December 8-12, 2025 [13]. - The report highlights significant growth in the pet food segment, with online sales increasing by 27.9% year-on-year during October and November 2025, driven by new consumer brands [34][36]. - The livestock industry is facing challenges, with a 5.5% decrease in the number of pigs marketed in November compared to the previous month, raising concerns about animal disease outbreaks [30]. Summary by Sections Industry Dynamics - The agricultural sector index increased by 0.3%, outperforming the market [13]. - Key stocks such as Zhengbang Technology, Biological Shares, and Luoniushan saw significant gains of 19%, 17%, and 14% respectively [18]. Livestock Industry - In November, the number of pigs marketed decreased by 5.5% month-on-month, with a year-on-year increase of 16.7% [30]. - Prices for live pigs increased by 2.1% week-on-week, while the average weight of marketed pigs decreased by 0.2% [30]. - The utilization rate of fattening barns in 17 provinces dropped by 6.5 percentage points [30]. Poultry Industry - Prices for chicken chicks and broilers increased by 1.4% and 0.8% respectively, amid ongoing global avian influenza outbreaks [37][38]. - The price of chicken products rose by 0.6%, driven by supply constraints and increased export orders [37]. Pet Food Industry - Online sales of pet food reached 8.45 billion yuan, with significant growth from brands like Maifudi and Fresh Lang, which saw increases of 36% and 112.6% respectively [34]. - Chewy reported a 30.9% increase in EBITDA, with active customer numbers growing by 4.9% [35]. Feed Industry - Feed raw material prices showed mixed trends, with soybean meal prices increasing by 1.5% while corn prices slightly decreased [41]. - The price of South American white shrimp increased by 4.3% week-on-week [41]. Animal Health - The veterinary drug price index decreased by 0.2%, with a year-on-year increase of 2.4% [43]. - Merck's imported pet antibiotics were launched on JD Health, marking a significant development in the pet healthcare sector [43].

Core Insights - The animal health sector experienced a decline of 0.31% on December 10, with *ST Lvkang leading the drop [1] - The Shanghai Composite Index closed at 3900.5, down 0.23%, while the Shenzhen Component Index rose by 0.29% to 13316.42 [1] Stock Performance - The following stocks in the animal health sector showed varied performance: - **Biological Shares (600201)**: Closed at 14.53, up 1.18% with a trading volume of 395,300 shares and a turnover of 560 million yuan [1] - **Ruipu Biological (300119)**: Closed at 19.24, up 0.79% with a trading volume of 26,900 shares and a turnover of 51.56 million yuan [1] - **Xianfeng Holdings (002141)**: Closed at 3.82, up 0.53% with a trading volume of 177,700 shares and a turnover of 67.70 million yuan [1] - **Qudongli (920275)**: Closed at 8.71, up 0.23% with a trading volume of 9,815 shares and a turnover of 8.47 million yuan [1] - **Jinhe Biological (002688)**: Closed at 6.05, down 0.17% with a trading volume of 67,700 shares and a turnover of 40.90 million yuan [1] - **Hui Sheng Biological (300871)**: Closed at 19.24, down 0.52% with a trading volume of 23,700 shares and a turnover of 45.48 million yuan [1] - **Dayu Biological (920970)**: Closed at 7.70, down 0.65% with a trading volume of 11,700 shares and a turnover of 892,880 yuan [1] - **KQ Biological (688526)**: Closed at 15.36, down 0.65% with a trading volume of 17,600 shares and a turnover of 26.94 million yuan [1] - **Placo (603566)**: Closed at 12.95, down 0.69% with a trading volume of 27,200 shares and a turnover of 35.32 million yuan [1] - **Shenlian Biological (688098)**: Closed at 8.96, down 1.10% with a trading volume of 31,800 shares and a turnover of 28.66 million yuan [1] Capital Flow - On the same day, the animal health sector saw a net outflow of 13.98 million yuan from institutional investors and 18.34 million yuan from retail investors, while individual investors contributed a net inflow of 32.32 million yuan [3]