Financial Performance - In the first three quarters of 2021, the company achieved a revenue of 7.976 billion yuan, representing a year-on-year growth of 36.13% [2] - The net profit for the same period was -604 million yuan, a significant decline of 596.35% compared to the previous year [2] - The company sold 273 million live chickens, marking an 18.53% increase year-on-year [2] Cost and Profitability Challenges - High feed raw material costs and relatively low sales prices have pressured the profitability of the poultry segment [2] - The pig farming sector faced substantial losses due to a significant drop in domestic pig prices [2] - The company made a provision for inventory impairment of approximately 340 million yuan, primarily related to the decline in the value of live pigs [2] Future Plans and Developments - The company aims to achieve a production capacity of 3 million pigs by 2025, currently maintaining a breeding stock of 30,000 to 40,000 sows [3] - The focus for the pig farming segment will be on reducing production costs and preparing talent to meet future goals [3] - The company has terminated its convertible bond application and plans to raise funds through a private placement to its controlling shareholder to support regional business expansion and slaughterhouse upgrades [3]

编号：20210124 证券代码：300761 证券简称：立华股份 江苏立华牧业股份有限公司 投资者关系活动记录表 | --- | --- | --- | |-------------------------|-----------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------| | | 特定对象调研 | 分析师会议 | | 投资者关系活 | 媒体采访 | 业绩说明会 | | 动类别 | 新闻发布会 | 路演活动 | | | 现场参观 | | | | 其他 ：中信证券电话会议 | | | | ...

Group 1: Business Growth and Future Plans - The company aims to maintain an annual growth rate of around 10% in the yellow feather chicken breeding sector [4] - The fresh poultry processing capacity is expected to account for approximately 50% of total output in the next five years [4] - By 2025, the company plans to achieve an annual output of around 3 million marketable pigs [4] Group 2: Financial Performance - In 2021, the company achieved a revenue of 11.132 billion yuan, representing a year-on-year growth of 29.12% [4] - The net profit attributable to shareholders was a loss of 396 million yuan, influenced by rising raw material costs and industry cyclicality [4] - Inventory impairment and credit impairment accounted for 120 million yuan of the losses [4] Group 3: Product and Market Strategy - The main products include yellow feather meat chickens, market pigs, and geese, with yellow feather chicken accounting for over 90% of revenue [4] - The company is actively expanding online and offline sales channels for yellow feather chicken, collaborating with major e-commerce platforms [4] Group 4: Cost Management Measures - The company is optimizing procurement strategies to manage rising raw material costs, including participating in government grain auctions [5] - It is evaluating unconventional feed materials to mitigate the impact of high corn prices [5] - Enhancements in farming techniques and automation are being implemented to further reduce production costs [5] Group 5: Unique Product Offerings - The "Snow Mountain" series is a unique breed of yellow feather chicken, known for its tender meat and rich flavor, produced through a semi-free-range farming model [6] - The company plans to replicate its successful business model in other regions to expand production scale [6]

Group 1: Cost and Pricing Impact - The cost of raising yellow feather chickens is significantly affected by feed prices, which typically account for over 70% of the total cost [2] - The current cost of raising yellow feather chickens has risen to approximately 6.8 yuan per kilogram due to increased raw material prices [2] Group 2: Business Development and Future Plans - The yellow feather chicken segment is expected to maintain an annual growth rate of around 10%, with plans to expand market share in Central, South, and Southwest China [2] - The company aims to complete a slaughter capacity of 40-50 million yellow feather chickens this year, targeting 50% of slaughter capacity by 2025 [3] - In 2021, the company raised 412,500 market pigs, a year-on-year increase of 123%, with plans to reach an annual output of 3 million market pigs by 2025 [3]

Group 1: Yellow-feathered Chicken Business - The current breeding cost for yellow-feathered chickens is approximately 6.6 yuan per kilogram, with feed costs typically accounting for over 70% of total costs [1] - The company aims to maintain an annual growth rate of around 10% for its yellow-feathered chicken segment while expanding its market presence in Central, South, and Southwest China [1] - By 2025, the company plans to achieve 50% of its yellow-feathered chicken slaughtering capacity, with an expected completion of 40-50 million slaughtering capacity this year [1] Group 2: Pig Farming Business - In 2021, the company sold 412,500 commodity pigs, representing a year-on-year increase of 123% [2] - The company has established pig farming capacity of over 1 million heads and plans to reach an annual output of 3 million commodity pigs by 2025 [2] - There is significant potential for improvement in production performance in the pig farming sector [2]

Group 1: Market Trends and Pricing - The price of yellow feather chickens has been on the rise since the second quarter of 2022, with an average price reaching 7 RMB per kilogram in June [2] - The market for yellow feather chickens was previously depressed due to factors such as industry capacity expansion in 2019, the impact of COVID-19 in 2020, and low pig prices in 2021 [2][3] Group 2: Cost Structure and Management - Feed costs typically account for over 70% of the total breeding costs for yellow feather chickens, with other costs including vaccines, farming expenses, and management fees [3] - The company is focusing on technological advancements in breeding, animal health, feed formulation, and environmental control to mitigate the pressure from rising raw material costs [3] Group 3: Business Development and Future Plans - In the first half of 2022, the company sold approximately 188 million yellow feather chickens, marking a year-on-year increase of about 4% [3] - The company plans to enhance its market presence in Central, Southern, and Southwestern China while maintaining its market share in Eastern China [3] - The company aims to complete 40 to 50 million units of yellow feather chicken slaughtering capacity this year and is developing semi-finished and prepared dishes to extend its industry chain [3] Group 4: Swine Farming Sector - Since the second quarter of 2022, key production indicators in the pig farming sector have improved significantly, with a notable reduction in costs [3] - The company sold around 100,000 commercial pigs in the second quarter, with plans for continued growth in the second half of the year based on market trends [3]

证券代码：300761 证券简称：立华股份 编号：20220902 江苏立华牧业股份有限公司 投资者关系活动记录表 | --- | --- | --- | |-------------------------|-----------------------------|---------------------------------------------------------------------------------------------------------------------------| | | 特定对象调研 | 分析师会议 | | | 媒体采访 | 业绩说明会 | | 投资者关系活 动类别 | 新闻发布会 | 路演活动 | | | 现场参观 其他 券策略会 | ：天风证券策略会、国海证券策略会、国泰君安策略会、广发证 | | 参与单位名称 及人员姓名 | 参与人员： 32 | 家机构共 45 位机构投资者，名单详见附件清单。提示：参 会人员名单由组织机构提供并经整理后展示。公司无法保证参会人员及其 | | | | 单位名称的完整性、准确性，请投资者注意。 | | | 天风证券策略会 ...

证券代码：300761 证券简称：立华股份 编号：20220829 江苏立华牧业股份有限公司 投资者关系活动记录表 | --- | --- | --- | |--------------|-----------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------| | | 特定对象调研 | 分析师会议 | | 投资者关系活 | 媒体采访 | 业绩说明会 | | 动类别 | 新闻发布会 | 路演活动 | | | 现场参观 | | | | 其他 | ：国海证券电话会、长江证券电话会、广发证券电话会 | | | | 国海证券电话会、长江证券电话会、广发证券电话会三场线上电话会议， | | | 在线参会人员： 100 | 家机构共 1 ...

证券代码：300761 证券简称：立华股份 编号：20221025 江苏立华牧业股份有限公司 投资者关系活动记录表 | --- | --- | --- | |--------------|-----------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------| | | 特定对象调研 | 分析师会议 | | 投资者关系活 | 媒体采访 | 业绩说明会 | | 动类别 | 新闻发布会 | 路演活动 | | | 现场参观 | | | | 其他 | ：三季报业绩解读电话会 | | 参与单位名称 | 参与人员： 63 家机构共 | 74 位机构投资者，名单详见附件清单。 | | 及人员姓名 | | | | 时间 | 2022 年 10 月 25 日 | 10:00-11:00 | | 地点 | 进门财经 | | | 上市 ...

江苏立华牧业股份有限公司 2022 年第三季度报告 证券代码：300761 证券简称：立华股份 公告编号：2022-113 江苏立华牧业股份有限公司 2022 年第三季度报告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导性陈述或重大遗漏。 重要内容提示： 1.董事会、监事会及董事、监事、高级管理人员保证季度报告的真实、准确、完整，不存在虚假记载、误导性陈述或重 大遗漏，并承担个别和连带的法律责任。 2.公司负责人、主管会计工作负责人及会计机构负责人(会计主管人员)声明：保证季度报告中财务信息的真实、准确、 完整。 3.第三季度报告是否经过审计 □是 否 1 江苏立华牧业股份有限公司 2022 年第三季度报告 一、主要财务数据 （一） 主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 | --- | --- | --- | --- | --- | |------------------------------------------------------|-------------------|-------------------------|-------- ...