龙大美食：2024年扭亏为盈

Core Insights - The company reported a revenue of 10.99 billion yuan for the year 2024, a year-on-year decrease of 17.49%, but achieved a net profit attributable to shareholders of 21.62 million yuan, marking a turnaround from losses [1] - The recovery in pig and pork market prices contributed to a significant reduction in losses in the traditional business segment, while the sale of a wholly-owned subsidiary generated investment income [1] - The company has a food processing capacity of 330,000 tons, achieving a nationwide production layout covering various regions [1] Financial Performance - The food segment generated revenue of 1.90 billion yuan, a decrease of 14.45% year-on-year, but the gross margin improved to 11.23%, an increase of 1.11 percentage points [1] - The revenue contribution from the food segment increased from 16.69% to 17.31% [1] Traditional Business Adjustments - The company reduced the scale of operations in underperforming and loss-making slaughterhouses, focusing resources on advantageous regions such as East China and Southwest [2] - Investments in automation equipment improved product yield and labor efficiency, enhancing product quality [2] - In the breeding segment, the company eliminated inefficient and non-compliant farms, investing in standardized breeding facilities and differentiating into black pig breeding to enhance gross margins [2] New Retail Strategy - The company strengthened brand exposure and focused on new retail channels, leveraging product potential and creating popular products [2] - Online sales revenue surpassed 159 million yuan, reflecting a year-on-year growth of 7.64% [2]