Individual stock performance:
Last week (December 18-December 22), the Agriculture, Forestry, Animal Husbandry and Fishery (Shenwan) Index (801010. SI) closed at 2782.56, down 2.01%, underperforming the CSI 300 Index by 1.88 percentage points.
The top 10 stocks in the agricultural sector by market capitalization were mixed, among them, Muyuan shares rose 1.32%; Haitian Flavor rose 3.26%; Arowana fell 0.25%; Yili shares rose 1.92%; Wen's shares fell 1.54%; Shuanghui Development rose 0.55%; Salt Lake shares rose 0.39%; Haid Group fell 1.25%; Hualu Hengsheng fell 4.69%; New Hope fell 2.47%.
Chart: The top 10 stocks by market capitalization
The top 5 stocks in agriculture P/E are: Dayu Bio's P/E ratio is 5589.73 times; Shennong Group's P/E ratio is 2373.37 times; Wen's P/E ratio is 1726.76 times; The price-to-earnings ratio of Ectoli is 911.88x; The price-to-earnings ratio of Xinnong is 754.44 times.
Chart: Top five stocks in terms of earnings ratios
In terms of rise and fall, 3 stocks rose by more than 10%, the highest increase was Xingguang Agricultural Machinery rose 31.82%, with a market value of 3.620 billion yuan, followed by Fenglong shares rose 19.05%, with a market value of 3.336 billion yuan, and Huaxi Technology rose 14.12%, with a market value of 882 million yuan.
Chart: Top 10 gainers
The companies whose stock prices rose by more than 10% are agricultural machinery companies, among which Starlight Agricultural Machinery walked out of the four boards last week and adjusted the fall limit on Friday.
On the news side, Xingguang Agricultural Machinery replied to investors' questions on December 20, saying that it cooperated with Hefei Duojia Agricultural Technology Co., Ltd. to jointly establish Anhui Xingguang Duojia Intelligent Agricultural Machinery Equipment Co., Ltd., the main cooperative model is a crawler unmanned plant protection robot, and based on this various remote control, man-machine separation technology applications. This move aims to promote the development of agricultural machinery in the direction of unmanned and intelligent through technology and product cooperation at all levels.
In addition, the Ministry of Industry and Information Technology recently held a meeting, requiring efforts to build a modern industrial system with advanced manufacturing as the backbone, accelerate the transformation and upgrading of traditional industries, consolidate and upgrade advantageous industries, cultivate and expand emerging industries, forward-looking layout of future industries, accelerate the "intelligent transformation and digital transformation of the manufacturing industry", and promote artificial intelligence to empower new industrialization in an all-round way.
Caitong Securities released a research report saying that the overall market of the machinery sector comes from the upward revision of performance brought about by the economic recovery on the one hand, and the valuation increase brought about by the policy side and its own added value on the other hand. The U.S. interest rate hike cycle is coming to an end, the bottom of domestic policy is gradually clear, and the domestic economy has gradually bottomed out. From the perspective of the layout of the pro-cyclical industrial chain, it is still more recommended to lay out the construction machinery sector, especially the excavator industry chain, etc., from the recent order tracking to see that the pro-cyclical equipment boom in the manufacturing industry has rebounded, and it is still recommended to focus on forklifts, cutting tools, injection molding machines, and some industrial control with a low proportion of new energy.
In the long run, with the issuance of trillions of national bonds, the local financial pressure is expected to ease, the new demand for construction machinery is expected to gradually stabilize, and the new round of industry renewal is expected to start gradually in 2024, and the industry inflection point is gradually approaching.
In terms of capital flow data, last week, the total net outflow of the main funds of Xingguang Agricultural Machinery was 171 million yuan, the total net inflow of floating funds was 34.9811 million yuan, and the total net inflow of retail funds was 136 million yuan.
Chart: Stocks that fell by more than 10%.
In addition, 6 stocks of Aonong Biotechnology fell by more than 10%.
Recently, the move of Aonong Biotech's "1 yuan fire sale" subsidiary has aroused questions from small and medium-sized shareholders.
On December 8, Aonong Bio issued an announcement that it intends to transfer part of the equity of 8 subsidiaries such as Quyang Aonong Agricultural Development Co., Ltd. to the controlling shareholder Xiamen Aonong Investment Co., Ltd. for 8 yuan, and the net assets and net assets of the target company are negative, and after the transaction is completed, Aonong Bio still holds 51% of the equity of the target company, and it is still within the scope of the company's merger. After the completion of the transaction, since the company and its holding subsidiaries still hold 51% of the equity of the eight target companies, the target company is still a subsidiary actually controlled by the listed company, and the scope of the company's consolidated statements will not change.
Since December 11, the second trading day of the announcement, the share price of Aonong Biotech has continued to decline.
The China Securities Small and Medium-sized Investor Service Center also issued a "Shareholder Inquiry Letter" to Aonong Biotech, stating that although this transaction can reduce the loss of net profit attributable to the parent company of Aonong Biotech from January to October 2023 by about 151 million yuan, the improvement of the current situation that the net profit attributable to the parent company has accumulated a loss of 1.29 billion yuan as of the end of September 2023 is limited, while the company has paid a considerable proportion of the equity of 8 target companies. The Company is required to make additional disclosures on the necessity of the transaction.
On December 24, Aonong Biotech responded in the "Shareholder Inquiry Letter" to the China Securities Small and Medium-sized Investor Service Center that the above-mentioned target company is affected by the cycle of the pig breeding industry and its own operation, and its pig farms are currently in an empty or planned empty state, and the audited net assets and net assets of the target company are negative, and the pig farms used in production and operation are leased, not self-built by the target company. Due to the continued downturn in the industry cycle, the target company's future resumption plan cannot be determined, and the operating situation cannot be reasonably estimated, so the income method is not adopted.
In terms of capital flow data, last week, the total net outflow of the main funds of Aonong Biotechnology was 99.8315 million yuan, the total net outflow of floating funds was 20.0269 million yuan, and the total net inflow of retail funds was 120 million yuan.
Sector Performance:
Last week, all sub-sectors of agriculture fell to varying degrees, with the aquaculture sector falling the least, the fishery sector falling the most, followed by the planting sector.
Aquaculture (Shenwan) fell 1.12%: Stocks in the sector fell more and rose less, *ST Tianshan fell 8.9%, Yisheng shares fell more than 6%, and Tianbang Food fell more than 5%. There are also individual stocks that performed better, Lihua shares rose 5.5%, and Muyuan shares, with a market value of more than 200 billion yuan, rose 1.3%.
According to Yongyi Consulting, the average weight of slaughter last week was 123.93kg, an increase of 0.23% month-on-month, and the storage capacity rate of frozen products in slaughterhouses was 17.49%, a decrease of 0.29pct month-on-month. According to the analysis, it is a foregone conclusion that the peak season will not be prosperous, and the follow-up pig prices will remain low and fluctuate, and the production capacity is still the main line of the plate.
In terms of white feather chickens, Huachuang Agricultural Securities said that the current breeding end of the slaughter are serious losses to varying degrees, and the downturn may lead to the accelerated elimination of breeder production capacity. Looking forward to the market outlook, this year some enterprises into the incubation period earlier, the Spring Festival supply gap is longer, after the holiday chicken seedlings or supply gap; in the medium and long term, with the transmission of the upstream grandparent production capacity gap, the marginal recovery of demand-level consumption, it is expected that next year's commodity generation price boom will be higher.
Fishery (Shenwan) fell 4.37%: The stocks that fell the most were Dahu down 7.19%, *ST Toyo down 6.40%, and Baiyang down 5.90%.
Planting industry (Shenwan) fell 4.01%: Xinsai shares, Dunhuang seeds, Longping Hi-Tech fell more than 7%, Denghai seeds, Fengle seeds fell more than 6%.
The latest trend in agricultural prices:
According to the Ministry of Agriculture and Rural Affairs' National Agricultural Products Wholesale Market Price Information System monitoring from December 15 to December 21, the agricultural product wholesale price 200 index was 123.79 points, up 2.97 points from the previous month and down 1.93 points from the same period last year.
Among them, the month-on-month changes of pork, mutton, beef, eggs and white chicken were 1.7%, 0.2%, -0.1%, -1.8% and 0.6% respectively.
The month-on-month changes of grass carp, crucian carp, carp, silver carp, silver carp, large ribbon fish and large yellow croaker were -0.4%, 1.2%, 0.4%, 1.6%, -1.0%, 0.7% and 1.3%, respectively.
The average price of 19 kinds of vegetables in 286 wholesale markets across the country was 4.19 yuan/kg, up 6.3% month-on-month and 5.0% year-on-year. Among them, the prices of green peppers, eggplants, tomatoes, rape and spinach increased by 18.4%, 15.0%, 13.5%, 13.1% and 10.8% respectively this week, while the prices of lettuce, cauliflower and potatoes decreased by 2.3%, 1.2% and 0.4% month-on-month.
Last week, the average price of six kinds of fruits, Fuji apples, Kyoho grapes, bananas, pineapples, watermelons, and Yali pears, was 7.12 yuan/kg, up 5.6% year-on-year. (This article was first published in the Titanium Media APP, by |.) Li Jian)