Guosen Research reports recently stated that they are bullish on the livestock breeding layout and are paying attention to transgenic catalysts. 1) Hog breeding: the pig price is performing well during the off-season, and the sector is expected to be prosperous in the second half of the year. 2) Broiler chickens: previous output has declined, and it is expected to resonate synchronously with the pig price reversal in the future. 3) Layer chickens: sufficient mid-term supply is expected to open up a high prosperity period with the reversal of pig prices. 4) Animal health: pay attention to the progress of new product research and development such as non-pestilence vaccines and pet vaccines. 5) Meat products: this year, the pig price is in the early stage of the cyclical prosperity, and there is high expectation for the performance and high dividend of Henan Shuanghui Investment & Development. 6) Fodder and pets: fodder will be centralized towards technical service enterprises, and Guangdong Haid Group is highly recognized as the core. The export performance of the pet sector is relatively good or is expected to welcome good opportunities. 7) Planting chain: the commercialization of transgenic technology has landed, and the industry leading sector is expected to usher in a growth gold period. In the short term, the marginal supply of the sugar market is strong and the demand is weak, while the medium-term fundamentals are promising.