In the first week after the Spring Festival, the breeding sector changed frequently.
Among them, the growth advantages of small and medium-sized breeding stocks are prominent, and the trend is obviously stronger than that of breeding giant enterprises. With the significant increase in market attention of pig breeding sector, listed pig enterprises have been investigated by hundreds of institutions since February.
"small and beautiful" breeding stocks have sprung up
The reporter of Shanghai Securities News found that in this round of sharp rise in aquaculture stocks, the rise of individual stocks such as Muyuan Foods Co.Ltd(002714) , Wens Foodstuff Group Co.Ltd(300498) as the industry leader was significantly inferior to that of small and medium-sized aquaculture stocks such as Leshan Giantstar Farming&Husbandry Corporation Limited(603477) , Fujian Aonong Biological Technology Group Incorporation Limited(603363) .
According to Wande data, as of the closing on February 10, Leshan Giantstar Farming&Husbandry Corporation Limited(603477) , Fujian Aonong Biological Technology Group Incorporation Limited(603363) , Shenzhen Kingsino Technology Co.Ltd(002548) had increased by more than 20% in February, much higher than industry leading stocks such as Muyuan Foods Co.Ltd(002714) . Leshan Giantstar Farming&Husbandry Corporation Limited(603477) closed at the daily limit on February 9 and February 10.
Leshan Giantstar Farming&Husbandry Corporation Limited(603477) is one of the few listed pig enterprises that will be profitable in 2021. According to its performance express, the company realized a net profit attributable to the parent company of 269 million yuan in 2021, with a year-on-year increase of 111.06%.
For the substantial advance increase in performance, Leshan Giantstar Farming&Husbandry Corporation Limited(603477) said that on the one hand, the company completed the acquisition of 100% equity of superstar Co., Ltd. in July 2020, and only the statements from July to December of superstar Co., Ltd. were included in the scope of the company's consolidated statements in the same period of last year. on the other hand. With the expansion of the company's breeding scale and the increase of pig slaughter, the company's performance increased significantly compared with the same period of last year.
Yan Meiling, pig analyst of Shanghai Ganglian E-Commerce Holdings Co.Ltd(300226) Shenzhen Agricultural Products Group Co.Ltd(000061) business division, told the Shanghai Securities News that the emerging small and medium-sized breeding enterprises have two factors: good financial condition and high growth. In contrast, the financial situation of some breeding giants is worrying, their growth is also poor, and the room for capital growth is smaller than that of small and medium-sized breeding enterprises.
"The elasticity of small and medium-sized pig stocks is relatively greater, and the growth space of their subsequent marketing volume is greater than that of some breeding giants. Institutional funds are now more inclined to 'fry small tickets'." Yan Meiling said.
in February, more than 100 institutions investigated pig breeding stocks
Recently, institutions have also gathered to investigate a number of listed pig enterprises, including Tangrenshen Group Co.Ltd(002567) , Tecon Biology Co.Ltd(002100) , Shandong Delisi Food Co.Ltd(002330) .
According to the data, since February, Tecon Biology Co.Ltd(002100) has been investigated twice by 113 institutions, Shandong Delisi Food Co.Ltd(002330) and Tangrenshen Group Co.Ltd(002567) have also been investigated twice and once respectively.
According to the survey, the overall number of pigs sold in Tecon Biology Co.Ltd(002100) 2021 was 1603300, and the number of fertile sows was 120000 by the end of the year. The goal of pig slaughter in 2022 is preliminarily determined as 2.2 million pigs. It is estimated that by the end of 2022, the overall production capacity of 3 million to 3.5 million will be formed.
The company's animal vaccine business is expected to rise suddenly. Tecon Biology Co.Ltd(002100) said that at present, the company is the enterprise with the most complete variety of animal vaccine production in China. In recent years, the sales of the company's market seedlings have increased very fast. In 2020, the market seedlings accounted for only about 20% of the sales structure, more than 40% in 2021 and more than 50% in 2022. In terms of sales structure, market seedlings will become a major growth point of the company's performance.
Prefabricated vegetable concept stock Shandong Delisi Food Co.Ltd(002330) said that the original intention of the company's slaughtering business was to stabilize the intensive processing of meat products, not to expand the slaughtering business. Shandong Delisi Food Co.Ltd(002330) the existing slaughtering capacity is 3 million (including 1 million in Shandong and 2 million in Jilin). The raised investment project will add 2 million slaughtering capacity in Shaanxi. The slaughtering capacity of 5 million in the future is enough to support the layout of prefabricated vegetable bases in southwest, East and South China.
Shandong Delisi Food Co.Ltd(002330) said that the focus of the company's Prefabricated vegetable business in the future is at the b-end. After the non-public offering and investment project is put into operation, the company has a production capacity of 150000 tons of prefabricated vegetables. In the next three years, the company plans to focus on end B, supplemented by end C.
The second quarter is expected to turn into 123567}
At present, the fundamental contradiction of overcapacity and oversupply in China's pig market still exists, and the pig price is low. According to Wande data, as of the end of January, the profit loss of self breeding pigs had exceeded 300 yuan / head.
The national development and Reform Commission released a monitoring message on February 8 that the specific price of pig grain fell to the level II early warning range. The state pays close attention to it and will start the collection and storage as appropriate.
In theory, the downturn in pig prices will stimulate the industry to accelerate the elimination of excess capacity, and the inflection point of the pig cycle is approaching.
Yan Meiling said that the number of fertile sows in June 2021 reached the highest level in the year, and the number of fertile sows fell month on month for the first time in July. In November 2021, the piglet feed increased significantly month on month, corresponding to the release of live pigs in the second quarter of 2022. Although the relevant units will start the collection and storage to boost when the pork price is too low, the overall supply in the second quarter is loose, superimposed on the fact that it is in the off-season of consumption, the farm is lack of confidence, and the production capacity is accelerated, which does not rule out the phenomenon of rushing and trampling on the pig price in the past. The pig price in the second quarter of 2022 may be the lowest point of the year.
Guolian Securities Co.Ltd(601456) believes that the slaughter volume of pigs is usually determined by the number of fertile sows six months ago. It can be inferred that the number of sows that can be bred from February to May this year is determined by the number of sows that can be bred from August to November last year. Although the number of sows that can be bred at this stage has been reduced, it is still at a high level. It is expected that the number of pigs that can be bred will remain at a high level in the second quarter. The low pig price caused by high slaughter volume will further accelerate the process of pig de production capacity, and the pig price is expected to usher in a cycle reversal.
