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Tianfeng: The recent two rounds of hog cycle have sufficient reduction and production capacity is expected to fluctuate and decrease in the long term.
In 2025, with pig prices remaining low, costs difficult to decline or even increasing, and potential disruptions from the epidemic, the ease of capacity reduction and the difficulty of resuming production may increase again, and long-term capacity is still expected to fluctuate and reduce.
Dongxing Securities: In February, the supply of live pigs exceeded demand, and the average price declined. Pay attention to changes in breeding costs.
In February, after piglet prices rose to a high level, they corrected; after a significant price increase, the cost of restocking rose, and the sentiment for restocking piglets was average, with some farmers shifting to two-stage breeding. If the pressure of breeding costs intensifies, the industry's backward production capacity is expected to be accelerated in decommissioning, which may help alleviate the supply and demand contradiction by the end of 2025 and the beginning of 2026.
Tecon Biology Co.Ltd (002100.SZ): Currently not involved in pet fodder.
On March 10, Glorious Exchange reported that Tecon Biology Co.Ltd (002100.SZ) stated on the investor interaction platform that the company's main Business is currently focused on Fodder, animal health, Hog Farming, and Processing of Agricultural Products. The Pet Food Industry has developed rapidly in recent years, and there is significant market potential. The company will evaluate the feasibility of entering the pet food sector based on market demand and its own Global Strategy, considering various factors. However, the company has not yet ventured into the Pet Food sector.
Tecon Biology Co.Ltd (002100.SZ): Has not engaged in direct business cooperation with DeepSeek.
On March 10, according to Gelonghui, Tecon Biology Co.Ltd (002100.SZ) stated on the investor interaction platform that as of now, the company has not engaged in direct Business cooperation with DeepSeek. The company has always maintained an open cooperation attitude, continuously closely monitoring the development and application of cutting-edge Technology, and exploring potential cooperation opportunities with Technology companies in areas such as smart breeding, disease warning, and supply chain management, in conjunction with its own industry needs.
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