万洲国际(00288) - 2022 Q1 - 季度财报

Sales Performance - Meat product sales decreased by 1.2% to 828,000 tons, while pork sales increased by 2.1% to 1,033,000 tons[2] - Revenue declined by 0.8% to $6,555 million, while operating profit increased by 28.1% to $642 million[2] - The increase in meat product revenue by 10.6% was driven by growth in the U.S. and Europe, offsetting declines in China[8] Profitability - Profit attributable to the company's owners (before biological fair value adjustments) rose by 34.8% to $395 million[2] - Basic earnings per share (before biological fair value adjustments) increased by 54.8% to 3.08 cents[2] - The company's operating profit in the U.S. increased sixfold due to rising pig and pork prices, surpassing the increase in feed costs[9] - In Europe, the company faced an operating loss of $26 million, compared to an operating profit of $5 million in the previous period[9] Market Conditions - Average pig prices in China fell by 56.1% to RMB 14.02 per kg, while in the U.S., prices rose by 15.3% to $1.51 per kg[3] - The company anticipates that the negative impacts of African swine fever and COVID-19 will gradually diminish in 2022, but inflationary pressures will pose new challenges[10] Strategic Initiatives - The company plans to continue expanding its market presence and enhancing operational efficiency through strategic acquisitions and product development[8] - The company aims to enhance its integrated supply chain to cope with soaring commodity prices and improve production efficiency through increased automation and information technology[10] - The company plans to expand its operational regions and introduce protein diversification to accelerate growth[10] - Adjustments to the product mix will be made to maximize value-added offerings[10] - Marketing innovations will be promoted to expand sales scale and maintain industry leadership[10] Financial Position - The company reported total assets of $20,855 million and equity attributable to owners of $9,306 million as of March 31, 2022[2]