唐人神去年扭亏为盈 今年计划生猪出栏超500万头

Core Viewpoint - Tangrenshen (002567) has turned a profit in the 2024 fiscal year and expects a significant reduction in losses for Q1 2025, with plans to increase pig production and lower breeding costs [1][2] Financial Performance - In the 2024 fiscal year, Tangrenshen achieved revenue of 24.343 billion yuan, a year-on-year decrease of 9.67%, and a net profit of 355 million yuan, marking a return to profitability [1] - For Q1 2025, the company reported revenue of 5.973 billion yuan, a year-on-year increase of 22.40%, but a net loss of 77.0516 million yuan, which represents a reduction in losses of over 60% compared to the previous year [1] Production and Sales - In 2024, Tangrenshen's pig output reached 4.3362 million heads, a year-on-year increase of 16.80%, with 3.9106 million heads being fat pigs, accounting for 90.18% of total output [1] - The company sold 6.2804 million tons of feed, a year-on-year decrease of 11.33%, while the meat business generated revenue of 1.62 billion yuan [1] Cost Management and Efficiency - The cost of pig fattening decreased by 1.59 yuan per kilogram year-on-year, indicating a positive trend in cost reduction [2] - The company is expanding pig output through a "company + farmer" model, which enhances production efficiency and reduces fixed asset depreciation costs [2] - The cost of weaned piglets has been reduced by 46.34 yuan per head through improved breeding practices [2] Future Outlook - For 2025, Tangrenshen aims to produce between 5 million and 5.5 million pigs, focusing on continuous cost reduction in breeding operations [2] - The company plans to enhance its feed and meat business through organizational changes and a customer-centric approach, aiming for increased customer value and profitability [2] Market Position and Strategy - Tangrenshen maintains a low reliance on imported feed materials, with a pricing strategy based on cost-plus, which helps mitigate raw material price fluctuations [3] - The company is committed to expanding its full industry chain in pig farming, aiming for high-quality development and its vision of becoming a leading global player in the agricultural and food industry [3]