CITIC Securities: High-quality development of pigs will be held "Anti-internal competition" continuedforward.

Guosen Securities research report states that the high-quality development of the pig industry will be held, and the "anti-internal competition" will continue to be promoted. The official continues to guide industry capacity regulation. The Ministry of Agriculture held a symposium on the pig industry, further emphasizing capacity regulation and high-quality development in the industry. Guosen Securities believes that there may be no exclusion of continuous policy enhancement in the future, accelerating the digestion of industry capacity. It continues to recommend the breeding sector, focusing on profitable cashing out and targets with incremental innovation.