益生股份5月种猪销售收入大增196.8% 投建项目达产后年产商品代鸡苗1亿羽

Core Viewpoint - The sales of Yisheng Co., the largest ancestor meat chicken breeding company in China, have continued to grow due to capacity release and a dual-driven strategy of "breeding pigs + breeding chickens" [1][2] Group 1: Sales Performance - In May, Yisheng Co. sold 10,800 breeding pigs, generating sales revenue of 25.72 million yuan, with year-on-year changes of 207.08% and 196.81% respectively [2][4] - The significant increase in sales volume is attributed to the impact of the May Day holiday, with some orders from late April being delayed to May for delivery [2][3] - The company has been deeply involved in the breeding pig sector for over 20 years, with its original breeding pig farm certified as a national core breeding farm in 2013 [2] Group 2: Capacity Expansion - Yisheng Co. plans to invest in the construction of a "1 million sets of parent breeding chicken farms and supporting projects," which is expected to produce approximately 100 million commercial chicken chicks annually upon reaching full capacity [1][5] - The company has been expanding its parent breeding chicken stock, with plans to introduce 90,000 sets of ancestor meat chickens by 2025, accounting for over 50% of imported ancestor meat chickens [5][6] Group 3: Chicken and Pig Business Dynamics - In May, the sales volume of white feather meat chicken chicks reached 56.61 million, with sales revenue of 17.4 million yuan, showing year-on-year growth of 11.35% but a revenue decline of 11.21% [4][6] - The decline in chicken chick revenue is primarily due to the low prices of small white feather meat chickens, while the sales volume increase is driven by changes in supply and demand dynamics [4] - The price of parent breeding chicks has shown an upward trend, increasing from 45 yuan per set in May to 50 yuan per set in June, indicating a positive outlook for pricing in the future [4][6] Group 4: Financial Overview - In 2024, Yisheng Co.'s pig breeding business revenue reached 22.4 million yuan, a year-on-year increase of 320.39%, accounting for 7.13% of total revenue [6] - The company's total revenue for 2024 was approximately 3.136 billion yuan, a decrease of 2.76% year-on-year, with a net profit of about 504 million yuan, down 6.84% [6] - In the first quarter of 2025, Yisheng Co. reported a revenue of 623 million yuan, with a net loss of 13.17 million yuan attributed to industry cycle fluctuations [6]