Muyuan Foods (SZ:002714) Sou Hu Cai Jing·2025-05-16 14:27Core Insights - The company has achieved significant growth in 2024, with total revenue reaching 137.947 billion yuan, a 24.43% increase year-on-year, and a net profit of 17.881 billion yuan, representing a remarkable 519.42% growth [1][3] - The company plans to distribute a total cash dividend of 7.588 billion yuan for the year, and has approved a proposal to issue H-shares for listing on the Hong Kong Stock Exchange, marking a key step in its internationalization strategy [1][4] Financial Performance - In 2024, the company reported a total revenue of 137.947 billion yuan, up 24.43% from the previous year, and a net profit of 17.881 billion yuan, which is a 519.42% increase [1][3] - For the first quarter of 2025, the company achieved total revenue of 36.061 billion yuan, a 37.26% year-on-year increase, and a net profit of 4.491 billion yuan, up 288.79% [5] Business Strategy - The company has established a complete pork industry chain, including feed processing, breeding, and slaughtering, and has increased its annual pig output from less than 2 million heads to over 70 million heads in 2024 [3] - The company is focusing on enhancing its production capacity, service capabilities, and overall industry chain integration, while also advancing its digital capabilities through the use of technology [3][5] International Expansion - The company is pursuing internationalization by exploring overseas markets and has formed a partnership with a local breeding company in Vietnam to provide pig farming technology services [4][5] - The establishment of a wholly-owned subsidiary in Vietnam aims to offer technical services and smart farming equipment [4] Research and Development - In 2024, the company invested 1.747 billion yuan in research and development, employing a dedicated R&D team of 6,486 people and holding a total of 2,276 national patents [6]