肉鸡价跌它反赚9亿？白羽肉鸡龙头净利润预增超700%

Core Viewpoint - The company, Shengnong Development, expects a significant increase in net profit for the first half of 2025, projecting a rise of 732.89% to 830.88% compared to the same period last year, driven by strong retail growth and strategic acquisitions [1][4]. Financial Performance - The projected net profit attributable to shareholders is between 850 million to 950 million yuan, compared to 102.05 million yuan in the same period last year [4]. - The expected net profit after deducting non-recurring gains is estimated to be between 330 million to 420 million yuan, a year-on-year increase of 256% to 353.35% from 92.64 million yuan [4]. Business Operations - Shengnong Development is part of the largest white feather chicken company in Asia, with a fully integrated supply chain from breeding to sales [4]. - The company has seen continuous growth in its retail channels, as well as stable growth in export and catering sectors, leading to an optimized revenue structure [5]. Cost Management - The company has implemented lean management practices, which, along with increased self-research and development of the new generation breeding chicken "Shenze 901 Plus," have significantly reduced overall meat production costs compared to the previous year [5]. Strategic Acquisitions - Shengnong Development completed the acquisition of a 54% stake in Sun Valley for 1.126 billion yuan, which is expected to enhance synergies and positively impact non-recurring gains for 2025 [6]. - The acquisition adds significant production capacity, with Sun Valley having an annual output of 65 million chickens and food processing capabilities of 90,000 tons per year [6]. Market Conditions - The white feather chicken market is currently experiencing a downward price trend, with significant declines in both chick and meat prices, leading to cautious replenishment by farmers [5][6].