The agriculture, animal husbandry and fishery sector mounted a strong offensive today (August 10), with the market's first Agriculture, Animal Husbandry and Fishery ETF (159275) rallying swiftly after the market open. As of press time, its intraday price had risen 2.67%.
In terms of constituent stocks, the livestock breeding sector collectively surged, while some individual stocks in sectors such as feed processing and aquaculture also performed notably. As of press time, Yisheng Co., Ltd. and Bangji Technology Co., Ltd. both hit their daily price limits, Xiaoming Co., Ltd. rose 7%, and Shennong Group, Minhe Co., Ltd., and Xiantan Co., Ltd. were also among the top gainers.
On the news front, the magnitude of losses in live pig breeding has widened again. Data shows that for the week ending August 7, 2026, the average profit per head for self-breeding and self-slaughtering operations was -243.56 yuan, a decrease of 5.66 yuan per head from the previous week.
Some research reports suggest that although the loss magnitude in live pig breeding has widened again, the logic of capacity reduction has not changed. The report points out that current basic capacity is in a reasonable reduction range, the cycle context remains clear, valuations already have a high safety margin, and upside catalysts exceeding expectations are expected to continue being released.
The research report posits that under the pressure of losses, leading companies, leveraging their cost control and scale advantages, are likely to accelerate industry consolidation, and their long-term profitability is expected to recover significantly.
From a valuation perspective, the current valuation level of the agriculture, animal husbandry and fishery sector remains at a relatively low level, making the present time potentially a good configuration opportunity for the sector. Wind data shows that as of the close of the previous trading day (August 7), the price-to-book ratio of the CSI All Agriculture, Animal Husbandry and Fishery Index, the underlying index for the market's first Agriculture, Animal Husbandry and Fishery ETF (159275), was 2.17 times, located at a low 3.94% percentile level over the past five years, highlighting the cost-effectiveness of medium- to long-term configuration.
Looking ahead, Sinolink Securities points out that in the medium to long term, the live pig breeding industry still has relatively good central profit levels. Moreover, during the rapid industry expansion after the African Swine Fever outbreak, many companies still expanded capacity with low-quality additions, resulting in significant cost variance across the industry. Head companies have ample excess profits to release, and it is recommended to prioritize low-cost, high-quality companies.
For a one-stop layout of the entire agriculture, animal husbandry and fishery industry chain, pay close attention to the market's first Agriculture, Animal Husbandry and Fishery ETF (159275). According to statistics from the China Securities Index Company, the Agriculture, Animal Husbandry and Fishery ETF (159275) passively tracks the CSI All Agriculture, Animal Husbandry and Fishery Index. Its constituent stocks include leading live pig breeding companies such as Muyuan Foods Co., Ltd. and Wens Foodstuff Group Co., Ltd., and also cover major sub-sectors of the agriculture, animal husbandry and fishery industry chain, including feed, grain planting, and animal protection.
Off-exchange investors can also invest in the agriculture, animal husbandry and fishery sector through the Agriculture, Animal Husbandry and Fishery ETF feeder fund (Class A: 013471, Class C: 013472).
Data source: Wind, as of end of June 2026. Industry classification follows the Shenwan tertiary industry classification. Charts and data sources: Shanghai and Shenzhen stock exchanges, etc., as of August 10, 2026.
Note: The market's first Agriculture, Animal Husbandry and Fishery ETF (159275) refers to the first ETF tracking the CSI All Agriculture, Animal Husbandry and Fishery Index.
Note: When investors subscribe for or redeem fund shares, the subscription and redemption agent broker may charge a commission of up to 0.5%, which includes relevant fees charged by the stock exchange and registration institution. The Agriculture, Animal Husbandry and Fishery ETF does not charge a sales service fee. The subscription fee rate for the Agriculture, Animal Husbandry and Fishery ETF Feeder A is: 1% for amounts below 1 million yuan; 0.6% for amounts between 1 million yuan (inclusive) and 2 million yuan; and 1,000 yuan per application for amounts of 2 million yuan (inclusive) or more. The redemption fee rate is: 1.5% within 7 days; 0.5% for 7 days (inclusive) to 30 days; and 0% for 30 days (inclusive) or more. The redemption fee rate for the Agriculture, Animal Husbandry and Fishery ETF Feeder C is 1.5% within 7 days; and 0% for 7 days (inclusive) or more. The sales service fee rate is 0.3%.
Risk Warning: The Agriculture, Animal Husbandry and Fishery ETF passively tracks the CSI All Agriculture, Animal Husbandry and Fishery Index. The index's base date is December 31, 2004, and it was published on December 12, 2016. Note: The annualized returns of the CSI All Agriculture, Animal Husbandry and Fishery Index for the past five complete fiscal years were: 2025: 11.12%; 2024: -10.4%; 2023: -13.97%; 2022: -12.66%; 2021: -3.99%. The annualized volatility of the CSI All Agriculture, Animal Husbandry and Fishery Index for the past five complete fiscal years was: 2025: 13.21%; 2024: 29.88%; 2023: 14.39%; 2022: 26.34%; 2021: 25.66%. The composition of index constituent stocks is adjusted in a timely manner according to the index's compilation rules. The backtested historical performance does not guarantee future index performance. The individual stocks mentioned in the text are only an objective display of index constituent stocks and do not constitute any stock recommendation, nor do they represent the fund manager's views or the fund's investment direction. Any information appearing in this article (including but not limited to individual stocks, comments, predictions, charts, indicators, theories, and any form of expression) is for reference only. Investors must be responsible for any investment decisions made on their own. Moreover, any views, analyses, and forecasts in this article do not constitute investment advice to readers of any form. Hwabao Fund is not responsible for any direct or indirect losses arising from the use of the content in this article. Investors should carefully read fund legal documents such as the Fund Contract, Prospectus, and Fund Product Information Summary to understand the fund's risk-reward characteristics and choose products that match their own risk tolerance. Past performance of the fund does not indicate its future performance. The performance of other funds managed by the fund manager does not constitute a guarantee of the performance of this fund. According to the fund manager's assessment, the risk level of the Agriculture, Animal Husbandry and Fishery ETF Hwabao is R3-Medium Risk, suitable for investors with a Balanced (C3) risk profile and above. The suitability matching opinion should be based on the sales institution's determination. Sales institutions (including the fund manager's direct sales institutions and other sales institutions) assess the risk of the above funds based on relevant laws and regulations. Investors should promptly pay attention to the suitability opinions issued by the fund manager. The suitability opinions of various sales institutions may not be consistent, and the fund product risk level assessment results issued by fund sales institutions shall not be lower than the risk level assessment results made by the fund manager. The fund's risk-return characteristics and risk level in the fund contract may differ due to different factors considered. Investors should understand the fund's risk-return situation and carefully select fund products and bear their own risks based on their own investment objectives, time horizon, investment experience, and risk tolerance. The registration of the above funds by the China Securities Regulatory Commission does not indicate a substantive judgment or guarantee of the fund's investment value, market prospects, or returns. Fund investment requires caution.