Report summary:
On Friday (0422), the average selling price of Sanyuan pigs across the country was 14.49 yuan / kg, up 14.91% from last Friday; The average selling price of Sanyuan piglets outside 15kg nationwide was 29.33 yuan / kg, up 11.27% from last Friday. Pig prices rose sharply month on month this week, and the average daily price of foreign three yuan broke through 13 and 14 yuan / kg one after another.
This week, the National Bureau of Statistics announced that the number of fertile sows fell to 41.85 million, returning to a reasonable range. The production capacity of sows has been reduced by 8.3% since June 2021, especially in March. Recently, pig prices have rebounded significantly, but under the background of relatively sufficient short-term supply and high feed costs, pig prices may fluctuate at a low level, and the de production capacity will continue. Under the trend of accelerated capacity removal, the reversal trend of pig price is becoming more and more clear. At the current time point, we continue to focus on the pig breeding sector. We continue to recommend breeding head enterprises that have obvious advantages in cost control, followed by second-line and small American Standard enterprises that focus on Dilemma reversal, large cost improvement expectation and certainty of listing growth. Highlight Muyuan Foods Co.Ltd(002714) , Wens Foodstuff Group Co.Ltd(300498) , Tecon Biology Co.Ltd(002100) , Beijing Dabeinong Technology Group Co.Ltd(002385) , etc.
Market review:
In the sub industries of agriculture, forestry, animal husbandry and fishery this week (04180422), the weekly increases and decreases are as follows: livestock and poultry breeding – 0.21%, feed – 4.88%, planting – 5.26%, Shenzhen Agricultural Products Group Co.Ltd(000061) processing – 5.75%, animal health – 5.94% and fishery – 7.62%. Among the companies in agriculture, forestry, animal husbandry and fishery industry this week (0418 – 0422), the top five companies are: jiawo shares 20.90%, Shandong Xiantan Co.Ltd(002746) 13.14%, Hefei Fengle Seed Co.Ltd(000713) 11.47%, Shandong Yisheng Livestock & Poultry Breeding Co.Ltd(002458) 10.96%, China Animal Husbandry Industry Co.Ltd(600195) 8.27%; The top five companies are: Tangrenshen Group Co.Ltd(002567) -16.33%, Hainan Jingliang Holdings Co.Ltd(000505) -18.01%, Fujian Aonong Biological Technology Group Incorporation Limited(603363) -18.67%, St tianshan-20.07%, ST changyu-22.84%.
Key tracking:
1. Jinyu Bio-Technology Co.Ltd(600201) released the annual report of 2021
Event: on April 22, Jinyu Bio-Technology Co.Ltd(600201) released its annual report for 2021. The company achieved revenue of 1.776 billion yuan, yoy + 12.29%, and net profit attributable to parent company of 382 million yuan, yoy – 5.89%. Excluding the impact of the goodwill impairment of Liaoning Yikang and the R & D investment of the new African classical swine fever mRNA vaccine on the profit, the growth rate of the company’s net profit attributable to the parent company is basically the same as that of the operating revenue.
Key recommendations:
[key recommendations] Wens Foodstuff Group Co.Ltd(300498) , Beijing Dabeinong Technology Group Co.Ltd(002385) , Yuan Longping High-Tech Agriculture Co.Ltd(000998) , Guangdong Haid Group Co.Limited(002311) , Jinyu Bio-Technology Co.Ltd(600201)
[suggestions for attention] Tecon Biology Co.Ltd(002100) , Jiangxi Zhengbang Technology Co.Ltd(002157) , Yantai China Pet Foods Co.Ltd(002891) , Petpal Pet Nutrition Technology Co.Ltd(300673) , Wuhan Keqian Biology Co.Ltd(688526)
Risk tips: the risk of livestock and poultry price fluctuation, the impact of extreme weather, the impact of animal diseases, etc.
