601020, планирование изменения контроля! Рост против тренда, хорошие новости для сектора свиноводства.

三 个部门开展中央储备冻猪肉收储工作。

Huayu Mining announces suspension of trading!

On the evening of April 2, Huayu Mining (601020) issued an announcement stating that the company’s controlling shareholder, Xizang Daoheng Investment Co., Ltd., is currently planning a share agreement transfer for the company. This matter may result in a change in the company’s controlling right. At present, Daoheng Investment and the counterparty are actively advancing the relevant work for this transaction. The company’s stock will suspend trading from April 3, 2026 at the start of the trading session, and the expected suspension period will not exceed 5 trading days.

Huayu Mining is engaged in the exploration, mining, beneficiation, and trading of non-ferrous metals, and its main products include zinc concentrate, lead-antimony concentrate (including silver), copper concentrate, etc. In 2025, domestic and overseas non-ferrous metal market demand remained strong, and prices continued to rise. Against this backdrop, the company is fully benefiting from the sustained boom in the precious metals and minor metals markets, and it expects to achieve net profit attributable to shareholders of RMB 800 million to RMB 900 million, representing a year-on-year increase of 215.80% to 255.28%.

As of June 2025, the company has domestic-controlled reserves of lead resources of 0.8183 million metric tons, zinc resources of 1.3860 million metric tons, antimony resources of 0.2037 million metric tons, silver resources of 2224.95 metric tons, copper resources of 14.5k metric tons, and gold resources of 59.59 metric tons; the company has overseas-controlled reserves of antimony resources of 0.2436 million metric tons and gold resources of 51.04 metric tons.

Central begins reserve purchase of frozen pork

On April 2, the pork sector surged against the trend, with the pork index closing up 1.3%. Among constituent stocks, Juxing Agriculture and Animal Husbandry hit the daily limit; Dayu Biotech rose 7.4%; and stocks such as Shennong Group, Haid Group, and Tiankang Biology followed with gains, all exceeding 4%.

According to CCTV News on April 2, in order to maintain stable operation of the pork market and better play the role of central government reserve adjustments, the Ministry of Commerce, the National Development and Reform Commission, and the Ministry of Finance are currently conducting reserve purchase and storage of frozen pork at the central level. Next, the Ministry of Commerce will continue to closely monitor pork market conditions, strengthen trend analysis and judgment, and work with relevant departments to do a good job in reserve-based regulation to ensure stable market operations.

Regarding the future outlook of the hog market, Guoxin Securities said that official capacity regulation will accelerate a rapid improvement in cash flow for leading companies, and it is expected to transform into a dividend-style asset. Against the background of industry-wide capacity contraction, leading companies’ cost advantages are expected to improve significantly, and “the strong will always be stronger.”

CITIC Securities (Shanxi) stated that the hog industry may face pressure in the first half, but at the same time it is also a time window with relatively good opportunities for capacity reduction and elimination. Under the guidance of the policy of “anti-overinvestment” in the hog industry, capacity reduction under policy regulation is also advancing in parallel. This year, there may be a third time since 2021 where capacity reduction is relatively clearly visible. The hog breeding industry’s fundamentals and valuations are expected to recover, and it is recommended to pay attention to hog-breeding stocks such as Wens Foodstuff, Shennong Group, and Juxing Agriculture and Animal Husbandry.

14 concept stocks achieve profit in 2025

According to statistics from Securities Times·Data 宝, in the first quarter of 2026, financing funds increased their holdings of four hog-related stocks: Muyuan Co., Ltd., KingKey Smart Agriculture, Huanon Share, and Jinxin Nong, with net purchases of financing of RMB 319 million, RMB 114 million, RMB 112 million, and RMB 27.0246 million, respectively.

Muyuan Co., Ltd. achieved operating revenue of RMB 144.15B in 2025, up 4.49% year-on-year; net profit attributable to shareholders was RMB 15.49B, down year-on-year. The main reason is the decline in hog market prices. The company expects to sell 75 million to 81 million hogs in 2026. In terms of costs, in 2025 the company’s average complete cost of hog breeding was about RMB 12 per kilogram, down RMB 2 per kilogram year-on-year, achieving the cost reduction target set at the beginning of the year. The company is confident that its complete cost of hog breeding will further decrease. Its 2026 cost target is for the full-year average cost to fall to below RMB 11.5 per kilogram.

As of April 2, 29 listed pork companies have already released reports related to their 2025 performance. Based on the annual report, the express report data, or the midpoint of the forecast, 14 companies achieved profits. Muyuan Co., Ltd., Wens Foodstuff, and WH Group Development ranked the top three, with net profit scales of RMB 15.49B, RMB 5.24B, and RMB 5.11B, respectively.

Wens Foodstuff achieved operating revenue of RMB 103.88B in 2025, and net profit attributable to shareholders of RMB 5.24B, down 43.59% year-on-year. In 2025, the company cumulatively sold 40.48 million hogs (including live hogs, fresh products, and piglets), completing the company’s annual “striving goal,” and this marks the fourth consecutive year in which the company basically achieved its annual “striving goal.” The company also sold 1.3B broiler chickens (including live chickens, fresh products, and prepared foods), up 8% year-on-year, reaching a historical high.

From the change in net profit, most companies saw their net profits decline year-on-year in 2025. WH Group Development recorded a slight increase of 2.32%, while Delisi’s year-on-year result achieved a turnaround into profit.

‍Statement: All information and content of Data 宝 does not constitute investment advice. The stock market carries risks; investment requires caution.

Proofread by: Li Lingfeng