Artificial soils include substrates for urban horticulture, potting soils, dike covers, roadsides, garbage pile covers, restored regions, and mining wastes. Urban gardening is practiced in sports and recreation areas, public gardens, and parks. Also, urban gardening entails the practice of cultivating edible and ornamental plants on rooftops, balconies, and windowsills. Potting soils are often used in greenhouses and rooftop gardens to grow potted plants and a wide range of vegetables. Urban horticulture requires dedicated staff and large investments in potting soils for commercial and residential gardening.

Humans are hugely dependent on animals for resources, specifically food. Since time immemorial, the most consumed meat for humans has been derived from animals. One of the many objectives behind humans rearing livestock & continuing to do so is to derive food out of animal meat. As a protein-rich food source, meat is usually preferred by humans to include in their diet. However, with the current global population sky-rocketing every year, it is evident that animals alone would not be able to meet the insatiable urge of humans to be fed. Moreover, it has been a growing concern for an adequate lot of humans being allergic and intolerant toward animal meat. The reasons for this can be variable.

Amid the tragic consequences of COVID-19, life sciences and medtech companies emerged as lights in the darkness. Decades of scientific work and investment seemed to be overnight successes. The heroic dedication of health care providers was met by the fastest novel vaccine development in history. Traditional competitors partnered to accelerate research and manufacturing.

Coconut milk is the oil-protein-water mixture, which is produced from fresh grated coconut kernels. The diluted form is called coconut milk while the concentrated form of mixture is called coconut cream. Coconut cream/milk is used to make various recipes such as fish & meat dishes and curries. It is also used in the preparation of bakery products, desserts, sweets, and for coconut milk flavoring. Skimmed coconut milk is also used as a protein supplement. Coconut milk/cream is also used in beverages, cocktails, and alcoholic drinks. Coconut milk/cream also has moisturizing and nourishing properties making it useful for skin care.

基金持仓：养殖链增持明显，种植持仓依然坚挺。22Q1 农业板块重仓持股总 量增加约77.1%，成长股牧原股份、海大集团的重仓排名优势地位稳固，市 场认可度进一步凸显；此外，基金重仓持股总量环比提升明显的标的还有： 华统股份（+8671%）、梅花生物（+7324%）、新希望（+1506%）、巨星农牧 （+589%）、农发种业（+409%）、唐人神（+214%）、天邦股份（+190%）、 傲农生物（+150%）、牧原股份（+125%）、温氏股份（+112%）、新五丰（+100%）。 景气度高的生猪、种子、黄鸡板块，以及优质动保标的得到重点布局。

重点推荐华统股份、圣农发展、牧原股份和种业板块。1）生猪：不必在乎情绪波动，继续看好周期反转逻辑。从销售价格来看，2022 年全年的生猪价属于周期磨底阶段，下半年的猪价反弹高度低于预期应该是大概率事件。从成本角度去看，2022 年全球大宗农产品处于历史高位，下半年粮食价格有望再创新高。因此，当前的生猪养殖行业受到了下游和上游的双重挤压，行业现金的损耗速度前所未有，继续维持2023 年上半年产能出清的判断，2022年是最好的布局窗口，核心推荐：华统股份和牧原股份。

2019 年10 月至2021 年1 月生猪价格高位盘整，之后猪价快速 下行，2021 年10 月猪价跌至成本线以下，随后小幅度反弹并 再次筑底。总结历轮猪周期开启的特征，短期来看，生猪仍处 于供过于求的状态，二季度猪价仍面临向下压力，今年下半年 有望开启新一轮猪周期。每轮猪周期内，生猪养殖板块一般会 经历两轮上涨阶段，分别在猪价第一次探底前后和新一轮猪周 期开启之后。2021 年9 月以来，生猪养殖板块已开启第一轮上 涨，未来随着猪周期的开启，生猪养殖板块有望迎来第二轮上 涨行情。