Investment Rating - The report maintains an "Overweight" rating for the pet economy sector, highlighting its rapid growth during the Spring Festival [4][7]. Core Insights - The pet consumption during the Spring Festival has seen significant growth, with a 20%+ year-on-year increase in searches for "New Year pet gift boxes" on Tmall. The sales of pet clothing surged by 330%, and pet New Year's dinners increased by 290% [7]. - The report emphasizes the comprehensive nature of pet services, with a 46% month-on-month increase in pet boarding demand. The expansion of pet transport services on high-speed trains and airlines is also noted [7]. - Upcoming pet exhibitions in March are expected to further stimulate market interest, with major brands likely to launch new products [7]. Summary by Sections Important Industry Data Overview - The agricultural sector index stands at 2,858.1, with a year-on-year increase of 14.28%. The wholesale price index for agricultural products is at 129.6, reflecting a 4.95% year-on-year increase [10]. - The average price of live pigs is 12.3 yuan/kg, down 15.81% year-on-year, while the average price of piglets is 471.0 yuan/head, down 25.24% year-on-year [10]. Pig Farming Sector - The report anticipates a seasonal decline in pig prices post-Spring Festival, with expectations of low prices leading to potential losses in farming [5][12]. - Recommended stocks in the pig farming sector include Muyuan Foods and Wens Foodstuffs, with additional recommendations in the agricultural product supply chain [5]. Poultry Sector - The report discusses the white feather broiler market, noting a decrease in chick prices and stable prices for broiler meat [19][20]. - The average price of broiler chicks is reported at 2.4 yuan/chick, with a 4.35% increase month-on-month [10]. Feed Sector - The report indicates stable feed prices, with corn prices at 2,372.2 yuan/ton and soybean meal prices at 3,167.7 yuan/ton [10][30]. - The analysis highlights the fluctuations in import prices for soybeans and corn, impacting the feed sector [32]. Key Company Profit Forecasts and Valuations - The report provides earnings per share (EPS) forecasts for key companies, with Muyuan Foods projected at 2.54 yuan for 2025 and 4.81 yuan for 2026, maintaining an "Overweight" rating [36]. - Other companies such as Wens Foodstuffs and Petty Holdings also receive "Overweight" ratings, indicating strong growth potential [36].

Performance Overview - In the 2025 performance forecast, the company expects a net profit attributable to shareholders of between 150 million to 190 million yuan, representing a year-on-year decline of 62.29% to 70.23%. However, the fourth quarter shows significant improvement with a net profit of 118 million to 158 million yuan. The company attributes the performance fluctuation mainly to the industry cycle in the first half of the year, while 2026 is anticipated to bring multiple growth opportunities driven by the gap in grandparent breeding stock, expansion of production capacity, and growth in the breeding pig business [1] Industry Conditions - Due to the impact of avian influenza overseas, the introduction volume of grandparent white feather broiler breeding stock in 2025 decreased by over 10% year-on-year, totaling only 620,000 sets, leading to a tight supply. The price of parent stock chick has been rising since September 2025, with the transaction price exceeding 53 yuan/set in January 2026, and further price increases are expected, benefiting the company's core business [2] Strategic Initiatives - The company plans to expand its production capacity over the next four years, increasing the parent stock inventory from 7 million sets to 10 million sets and the production capacity of commercial chicks from 600 million to 1 billion birds. This will be achieved through both self-construction and acquisitions to solidify its leading position in the industry [3] Business Development - The company has made progress in new business areas, with the research and development of new egg-laying chicken strains passing the pilot test, expected to receive certification in the first half of 2026, thereby enriching its product matrix. Additionally, the overseas strategy is advancing steadily, with agricultural and animal husbandry equipment already exported to Southeast Asia, and negotiations for the export of hatching eggs are underway to expand into international markets [4] Subsidiary Growth - As a core breeding farm for national pig breeding, the company's pig sales reached 98,400 heads in 2025, marking a year-on-year increase of 228.43%. The target for 2026 is to achieve sales of 150,000 heads, gradually contributing to sustainable revenue [5]

证券日报网讯 2月12日，益生股份在互动平台回答投资者提问时表示，受年度停孵期的影响，前期公司 商品代鸡苗价格回落，随着季节性影响因素的消除，公司商品代鸡苗价格已开始上涨，2月13日公司商 品代白羽肉鸡苗报价为3.2元/只。商品代鸡苗的供应由7个月以前父母代种鸡的更新量决定。 （文章来源：证券日报） ...

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。 ...

登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：002458 证券简称：益生股份 公告编号：2026-014 山东益生种畜禽股份有限公司 2026年1月鸡苗和种猪销售情况简报 本公司及董事会全体成员保证信息披露内容真实、准确和完整，没有虚假记载、误导性陈述或重大遗 漏。 一、2026年1月销售情况 （一）鸡苗销售情况 山东益生种畜禽股份有限公司（以下简称"公司"）2026年1月白羽肉鸡苗销售数量4,379.94万只，销售收 入14,145.93万元，同比变动分别为-19.37%、-2.62%，环比变动分别为-29.06%、-45.52%。 益生909小型白羽肉鸡苗销售数量546.56万只，销售收入677.74万元，同比变动分别 为-27.27%、-19.17%,环比变动分别为-14.79%、-4.29%。 （二）种猪销售情况 公司2026年1月种猪销售数量8,752头，销售收入1，787.31万元，同比变动分别为797.64%、565.27%， 环比变动分别为161.64%、130.86%。 上述财务数据均未经审计，可能与公司定期报告披露的数据存在一定差异，仅作为阶段性财务数据供投 资者参考。 2 ...

Core Viewpoint - Yisheng Co., Ltd. (益生股份) reported a decline in sales volume and revenue for its white feather broiler chicks in January 2026, while experiencing significant growth in sales of breeding pigs [1] Group 1: White Feather Broiler Chicks - The sales volume of white feather broiler chicks reached 43.7994 million, with a revenue of 141.4593 million yuan, reflecting a year-on-year decline of 19.37% in volume and 2.62% in revenue [1] - On a month-on-month basis, the sales volume and revenue decreased by 29.06% and 45.52%, respectively [1] - The sales volume of Yisheng 909 small white feather broiler chicks was 5.4656 million, generating a revenue of 6.7774 million yuan, with year-on-year declines of 27.27% in volume and 19.17% in revenue [1] - Month-on-month changes for the small white feather broiler chicks showed a decrease of 14.79% in volume and 4.29% in revenue [1] Group 2: Breeding Pigs - The sales volume of breeding pigs was 8,752 heads, with a revenue of 17.8731 million yuan, indicating a substantial year-on-year increase of 797.64% in volume and 565.27% in revenue [1] - Month-on-month changes for breeding pigs showed an increase of 161.64% in volume and 130.86% in revenue [1]

公司种猪产能稳步释放，故2026年1月公司种猪销售数量和销售收入同比大幅增加；受季节性因素影 响，部分客户已于2025年12月前完成引种封群，导致该月基数偏低，故2026年1月公司种猪销售数量和 销售收入环比大幅增加。 公司2026年1月种猪销售数量8752头，销售收入1787.31万元，同比变动分别为797.64%、565.27%，环比 变动分别为161.64%、130.86%。 格隆汇2月10日丨益生股份(002458.SZ)公布，公司2026年1月白羽肉鸡苗销售数量4379.94万只，销售收 入1.41亿元，同比变动分别为-19.37%、-2.62%，环比变动分别为-29.06%、-45.52%。益生909小型白羽 肉鸡苗销售数量546.56万只，销售收入677.74万元，同比变动分别为-27.27%、-19.17%,环比变动分别 为-14.79%、-4.29%。 受供给偏紧影响，公司父母代白羽肉鸡苗价格已连续数月环比上涨；但受年度停孵期影响，2026年1月 公司商品代白羽肉鸡苗销售数量环比减少、销售价格环比回落，对公司商品代白羽肉鸡苗的收入影响较 大，导致公司2026年1月白羽肉鸡苗销售总收入环比下降 ...

益生股份公告，公司2026年1月白羽肉鸡苗销售数量4379.94万只，销售收入1.41亿元，同比变动分别 为-19.37%、-2.62%，环比变动分别为-29.06%、-45.52%。益生909小型白羽肉鸡苗销售数量546.56万 只，销售收入677.74万元，同比变动分别为-27.27%、-19.17%，环比变动分别为-14.79%、-4.29%。公司 2026年1月种猪销售数量8752头，销售收入1787.31万元，同比变动分别为797.64%、565.27%，环比变动 分别为161.64%、130.86%。 ...

益生股份公告称，2026年1月，白羽肉鸡苗销售4379.94万只，收入14145.93万元，同比降19.37%、 2.62%，环比降29.06%、45.52%；益生909小型白羽肉鸡苗销售546.56万只，收入677.74万元，同比降 27.27%、19.17%，环比降14.79%、4.29%；种猪销售8752头，收入1787.31万元，同比增797.64%、 565.27%，环比增161.64%、130.86%。因停孵期，白羽肉鸡苗收入环比降；种猪产能释放及基数低，销 售数量和收入同比、环比大增。公告提醒，产品价格波动或影响业绩。 ...