Muyuan Foods (SZ:002714) Sou Hu Cai Jing·2025-05-29 02:16Core Viewpoint - Muyuan Foods Co., Ltd. has submitted an application for listing on the Hong Kong Stock Exchange, aiming to expand its capital base and enhance its market presence as a leading player in the global pork industry [1][2]. Company Overview - Muyuan Foods is a technology-driven global leader in the pork industry, covering the entire supply chain from breeding, pig farming, feed production, slaughtering, to meat processing [2]. - The company has been listed on the Shenzhen Stock Exchange since January 28, 2014, with the stock code 002714 [2]. Market Position - According to Frost & Sullivan, Muyuan Foods is the largest pig farming enterprise globally based on production capacity and output since 2021, maintaining the highest pig output for four consecutive years [2]. - The company's global market share in terms of pig output increased from 2.6% in 2021 to 5.6% in 2024, surpassing the combined market share of the second to fourth largest competitors [2]. Financial Performance - Revenue for Muyuan Foods from 2022 to 2024 is projected to be RMB 124.83 billion, RMB 110.86 billion, and RMB 137.95 billion, respectively [3]. - Net profit figures for the same period are expected to be RMB 14.93 billion, a loss of RMB 4.17 billion, and a profit of RMB 18.93 billion, indicating a significant recovery in profitability by 2024 [3]. - Gross profit margins are forecasted to be 17.5% in 2022, 3.1% in 2023, and 19.1% in 2024, reflecting fluctuations in operational efficiency [2][3]. Management Team - The chairman and CEO, Qin Yinglin, has been with the company since its inception in 2000 and has extensive experience in the pig farming industry [5][6]. - Other key executives include Cao Zhinian, the vice chairman and CFO, and Yang Ruihua, the executive director and vice president, both of whom have been with the company since its early days [5][7][8].