Investment Rating - The report maintains an "Overweight" rating for the agricultural, forestry, animal husbandry, and fishery sector, indicating a positive outlook for the industry compared to the overall market performance [1][4]. Core Insights - The total net profit for the tracked companies in the agricultural, forestry, animal husbandry, and fishery sector is projected to be CNY 30.949 billion for 2025, reflecting a year-on-year decrease of 20%. The top three sub-sectors by profit growth are animal health (+76%), planting industry (+54%), and pet food (+3%) [3][4]. - The report highlights significant performance disparities among different sectors, with the animal husbandry sector facing challenges due to oversupply and declining prices, particularly in pig farming, where the average price of pigs dropped by 29.9% year-on-year [3][5]. - The pet food sector shows resilience in domestic markets despite a slowdown in overseas growth, with a projected online sales growth of 10.2% in 2025 [3][4]. Summary by Relevant Sections Animal Husbandry - The pig farming sector is expected to see a net profit of CNY 20.908 billion in 2025, down 26% year-on-year, with significant losses reported in Q4 [5][8]. - The chicken farming sector remains profitable, with white chicken prices stable and yellow chicken prices showing a 9.5% increase year-on-year [3][4]. Pet Food - Domestic pet food sales are projected to grow, with major companies like Guobao Pet and Zhongchong Co. expected to report net profits of CNY 0.678 billion and CNY 0.433 billion, respectively [3][4]. Planting Industry - The report notes a recovery in edible mushroom prices, with a projected net profit increase of 154% for Zhongxing Junye in 2025 [3][4]. - Blueberry prices have slightly decreased, but companies are expected to maintain profitability through volume sales [3][4]. Animal Health - The animal health sector is projected to see a net profit increase of 76%, driven by new product launches and increased demand for veterinary vaccines [3][4]. Seed Industry - The seed industry is facing challenges with low grain prices, leading to a mixed performance among companies, with Dabeinong expected to report a significant loss [3][4].

Group 1: Amazon Financial Performance - Amazon reported Q4 sales of $213.39 billion, exceeding the estimate of $211.49 billion, with earnings per share of $1.95, slightly below the forecast of $1.96 [2] - The company plans to invest approximately $200 billion in capital expenditures by 2026, indicating a strong commitment to growth and technology investment [2] - Amazon's projected revenue for Q1 is between $173.5 billion and $178.5 billion, reflecting continued growth expectations [2] Group 2: Stock Market Overview - Major U.S. stock indices experienced declines, with the Dow Jones down 1.2%, Nasdaq down 1.59%, and S&P 500 down 1.23% [3][4] - Large tech stocks saw significant drops, with Microsoft down nearly 5%, Amazon down over 4%, and AMD down over 3% [3][4] - The Nasdaq China Golden Dragon Index rose by 0.9%, with mixed performance among popular Chinese stocks [3] Group 3: Global Asset Performance - International oil prices fell sharply, with WTI crude oil down 2.84% to $63.29 per barrel and Brent crude down 2.75% to $67.55 [4] - Precious metals also declined, with spot gold down 1.27% to $4719.69 per ounce and silver down 5.51% to $67.07 per ounce [4] - Bitcoin dropped below $63,000, trading at $62,800, while Ethereum fell over 2.72% to $1,818 [4] Group 4: AI Developments - OpenAI launched a new coding model, GPT-5.3 Codex, which is 25% faster than its predecessor and allows users to create complex software using natural language [6] - Anthropic released a new AI model, Claude Opus 4.6, designed for financial research, which can analyze corporate data and generate detailed financial reports [8] Group 5: Mergers and Acquisitions - Meituan announced plans to acquire Dingdong for approximately $717 million, which will integrate Dingdong's financial performance into Meituan's reports [9] - NIO expects to achieve its first quarterly profit in Q4 2025, with adjusted operating profit projected between 700 million and 1.2 billion yuan [10]

◎记者 黎灵希 另据统计数据，预计亏损的深市公司家数为124家，考虑到规则要求预亏公司需在1月底前发布业绩预 告，可合理推断深市注册制公司的预亏比例或低于两成。对比2024年亏损公司名单发现，国际复材、回 盛生物等32家公司预计在2025年实现扭亏。 重点行业表现亮眼 数据显示，除金融、房地产业外，深市的28个实体行业中18个行业预计净利润为正，占比64%。28个实 体行业中，电子、通信等7个行业连续两年盈利且2025年增速超50%，有色金属、计算机、传媒、纺织 服饰等4个行业实现扭亏。 具体来看，在产业转型升级、"中国制造"向"中国智造"不断迈进的大背景下，工业领域深市公司整体业 绩企稳向好。深市机械设备、基础化工行业公司预计净利润分别为84.85亿元、123.51亿元，分别同比增 长200.07%、284.56%；电力设备、国防军工行业公司预计净利润分别较2024年减亏76.13%、91.26%。 下游产业需求传导叠加贵金属价格上涨，有色金属行业预计净利润328.30亿元，同比实现扭亏。 受AI算力和应用需求快速增长、消费电子终端需求复苏等影响，深市计算机、通信、电子行业公司预 计合计实现净利润760.3 ...

Group 1 - Company X is currently undergoing auditing and evaluation work [1] - Company Y has not yet received any orders in the "space photovoltaic" sector [1] - Company Z plans to invest 1 billion yuan in the construction of a synthetic biology manufacturing project in Xinjiang [1] Group 2 - Company A has won a 994 million yuan EPC project [1] - Company B's subsidiary has secured a project worth 101 million yuan [1] - Company C's subsidiary is expected to be awarded a project for the total engineering contract of Huahong FAB9B [1] Group 3 - Company D reported a net profit of 177 million yuan for 2025, representing a year-on-year increase of 42.81% [1] - Company E reported a net profit of 34.93 million yuan for 2025, with a year-on-year growth of 30.13% [1] Group 4 - Company F plans to acquire a portion of equity in Company G, which will increase its holding and achieve control [1] - Company H and its subsidiary plan to transfer 80% of the equity in Wuhan Shengchong [1] Group 5 - Company I has completed the repurchase of 875,000 shares [2] - Company J plans to raise no more than 5 billion yuan through a private placement for a 20GWh power battery project [2] - Company K's actual controller is under investigation by the China Securities Regulatory Commission for alleged market manipulation [2]

Group 1: Company Announcements - Minexplosion Optoelectronics (301362.SZ): Audit and evaluation work for Xiazhi Precision is still ongoing [1] - GCL-Poly Energy (002506.SZ): Has not yet received any orders in the "space photovoltaic" sector [1] - Reborn Bio (300871.SZ): Plans to invest 1 billion yuan in the construction of a synthetic biology manufacturing project in Xinjiang [1] - Southeast Network Frame (002135.SZ): Won a 994 million yuan EPC project [1] - Reborn Bio (300871.SZ): Company and its controlling subsidiary plan to transfer 80% equity of Wuhan Shengchong [1] - Yingjixin (688209.SH): Reported a net profit of 177 million yuan for 2025, a year-on-year increase of 42.81% [1] - Bojie Co., Ltd. (002975.SZ): Completed the repurchase of 875,000 shares [1] - Zhonghuan Hailu (301040.SZ): Jianghai Machinery plans to reduce its holdings by no more than 3% [1] - Guoxuan High-Tech (002074.SZ): Plans to raise no more than 5 billion yuan for a 20GWh power battery project [1] - Beikong Ecological (605069.SH): Signed a strategic cooperation agreement with the People's Government of Miyun District, Beijing [1] Group 2: Performance Reports - Hengwei Technology (603496.SH): Reported a net profit of 34.93 million yuan for 2025, a year-on-year increase of 30.13% [1]

智通财经APP讯，回盛生物(300871.SZ)发布公告，为满足核心产品的市场需求，突破产能与效率瓶颈， 实现技术升级和成本控制目标，保持市场竞争力，公司董事会同意全资子公司新疆回盛生物科技有限公 司投资建设新疆合成生物学智造项目。项目投资金额为10亿元，分三期建设，项目所需资金来源为企业 自筹资金。 该项目能够满足公司发展战略需求：(1)突破产能与效率瓶颈：公司现有生产线在产能、设备效率及自 动化水平方面已难以满足市场需求，亟须通过新建自动化生产线来提升生产能力与产品质量。(2)强化 技术领先地位：为保持市场竞争力，公司决定引进高效节能、自动化程度高的先进生产设备和技术，通 过新建生产线实现技术升级，巩固技术领先优势。(3)实现成本控制目标：在市场竞争加剧的背景下， 现有生产线在能耗、人工及维修成本等方面优化空间有限。通过在新疆选址降低能耗成本，并应用自动 化程度高的先进设备，是降低生产成本、提升经济效益的核心战略路径。 ...

智通财经APP讯，回盛生物(300871.SZ)发布公告，为满足核心产品的市场需求，突破产能与效率瓶颈， 实现技术升级和成本控制目标，保持市场竞争力，公司董事会同意全资子公司新疆回盛生物科技有限公 司投资建设新疆合成生物学智造项目。项目投资金额为10亿元，分三期建设，项目所需资金来源为企业 自筹资金。 该项目能够满足公司发展战略需求：(1)突破产能与效率瓶颈：公司现有生产线在产能、设备效率及自 动化水平方面已难以满足市场需求，亟须通过新建自动化生产线来提升生产能力与产品质量。(2)强化 技术领先地位：为保持市场竞争力，公司决定引进高效节能、自动化程度高的先进生产设备和技术，通 过新建生产线实现技术升级，巩固技术领先优势。(3)实现成本控制目标：在市场竞争加剧的背景下， 现有生产线在能耗、人工及维修成本等方面优化空间有限。通过在新疆选址降低能耗成本，并应用自动 化程度高的先进设备，是降低生产成本、提升经济效益的核心战略路径。 ...

智通财经APP讯，回盛生物(300871.SZ)披露2026年员工持股计划(草案)，参与对象总人数不超过14人， 拟筹集资金总额不超过人民币308.10万元，以"份"作为认购单位，每份份额为1.00元，员工持股计划的 份数上限为308.10万份。 员工持股计划股票来源为公司回购专用证券账户回购的回盛生物A股普通股股票。本计划经公司股东会 审议通过后，将通过非交易过户等法律法规允许的方式受让公司回购专用证券账户所持有的公司股份。 员工持股计划受让的股份总数不超过20.54万股，占员工持股计划草案公告日公司股本总额的0.10%。 ...

格隆汇2月5日丨回盛生物(300871.SZ)公布，为拓展宠物药品线上销售渠道，武汉回盛生物科技股份有 限公司及控股子公司武汉宠栎生物科技有限公司拟将合计持有的武汉盛宠科技有限公司（简称"武汉盛 宠""标的公司"）80%的股权转让给武汉星之上科技合伙企业（有限合伙），本次股权转让价格合计为 人民币552.00万元。同时，董事会授权公司管理层办理与本次交易相关的全部事宜，包括但不限于：协 商、执行、签署与本次交易有关的合同及文件，办理工商变更登记等其他事项。 ...

格隆汇2月5日丨回盛生物(300871.SZ)公布2026年员工持股计划，本员工持股计划拟筹集资金总额不超 过人民币308.10万元，以"份"作为认购单位，每份份额为1.00元，本员工持股计划的份数上限为308.10 万份。本员工持股计划资金来源为员工合法薪酬、自筹资金以及法律法规允许的其他方式取得的资金， 公司不得向参与对象提供垫资、担保、借贷等财务资助，亦不存在第三方为参与对象提供奖励、资助、 补贴、兜底等安排的情形。本员工持股计划股票来源为公司回购专用证券账户回购的回盛生物A股普通 股股票。本计划经公司股东会审议通过后，将通过非交易过户等法律法规允许的方式受让公司回购专用 证券账户所持有的公司股份。经公司股东会审议批准后，本员工持股计划将以15.00元/股受让公司回购 专用证券账户已回购的股份。 ...