--- title: "The Tianhong CSI Agriculture Thematic ETF (512620) has accumulated a net inflow of over 500 million yuan in the past 30 trading days, with the current valuation being lower than 74% of the time in the past decade" type: "News" locale: "en" url: "https://longbridge.com/en/news/281960866.md" description: "The Tianhong CSI Agriculture Thematic ETF (512620) has accumulated a net inflow of over 500 million yuan in the past 30 trading days, with its current valuation being lower than 74% of the time in the past decade. This ETF closely tracks the CSI Agriculture Index, with a one-year increase of 24.98%. The Ministry of Agriculture has implemented production filing management to regulate the inventory of breeding sows, with policy dividends being intensively realized. Kaiyuan Securities points out that the supply of the pig farming industry remains loose, and investors need to pay attention to changes in production capacity, such as the inventory of breeding sows" datetime: "2026-04-08T02:23:16.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/281960866.md) - [en](https://longbridge.com/en/news/281960866.md) - [zh-HK](https://longbridge.com/zh-HK/news/281960866.md) --- # The Tianhong CSI Agriculture Thematic ETF (512620) has accumulated a net inflow of over 500 million yuan in the past 30 trading days, with the current valuation being lower than 74% of the time in the past decade On the market, both stock exchanges opened high and rose further, with the agriculture sector increasing. In terms of related ETFs, the Tianhong Agriculture ETF (512620) saw its underlying index rise by 0.94% during the trading session, with a transaction volume of 3.4511 million yuan; the turnover rate reached 0.31%. Among the constituent stocks, several, including Cangge Mining, Yaqi International, and Muyuan Foods, also rose. The Tianhong Agriculture ETF (512620) has accumulated a net inflow of 505 million yuan over the last 30 trading days. As of April 7, 2026, the latest scale of this fund is 1.091 billion yuan, ranking first among the same underlying funds in the Shanghai market. The Tianhong Agriculture ETF (512620) closely tracks the CSI Agriculture Index, which has increased by 24.98% over the past year. Its industry allocation mainly includes breeding (39.77%), agricultural chemicals (22.31%), and feed (10.96%). The top five constituent stocks are Wens Foodstuff Group, Muyuan Foods, Salt Lake Industry, Haida Group, and Cangge Mining. This ETF is also equipped with two off-market connection funds (Class A: 010769; Class C: 010770). Data from the past decade shows that the PE-TTM of the CSI Agriculture Index is 23.25 times, with the current valuation at the 25.59% percentile over the past decade, lower than the 74.41% time over the same period. From a valuation perspective, the index has certain cost-performance advantages. In terms of news, according to the Ministry of Commerce's website, the Ministry of Commerce, the National Development and Reform Commission, and the Ministry of Finance have recently initiated the central reserve frozen pork storage work, releasing a clear policy support signal; at the same time, the Ministry of Agriculture and Rural Affairs is implementing production filing management for leading enterprises, orderly regulating the national breeding sow inventory, and the capacity regulation mechanism continues to exert force. According to the Ministry of Agriculture and Rural Affairs, the 2026 strong agricultural support policy list includes 16 subsidies covering arable land protection, grain planting rewards, agricultural machinery purchases, etc. Implementation opinions to promote comprehensive rural revitalization have been successively introduced in Heilongjiang, Fujian, and other places, with policy dividends intensively landing. In addition, the introduction of South African type 1 foot-and-mouth disease from abroad to Xinjiang, Gansu, and other places has triggered close attention from the market regarding changes in the breeding industry landscape. Kaiyuan Securities believes that the current loose supply pattern in the pig farming industry is difficult to change, and the deepening losses in piglets are accelerating the release of pessimistic expectations. As the extent and duration of farming losses expand, the industry's capacity reduction process is expected to accelerate, and investors need to closely monitor clear capacity clearing signals such as the inventory of breeding sows. 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