Core Viewpoint - Dekang Agriculture and Animal Husbandry (02419) reported a significant increase in revenue and profit for the six months ending June 30, 2025, driven by growth in the pig farming sector and improved operational efficiencies [1] Financial Performance - The company achieved a total revenue of 11.695 billion yuan, representing a year-on-year growth of 24.3% [1] - The fair value adjustment profit of biological assets reached 1.273 billion yuan, marking a substantial increase of 250.6% [1] - Overall gross margin improved from 12.4% in the first half of 2024 to 17.4% in the first half of 2025, attributed to the expansion of new-style family farms and reduced production costs [1] Segment Performance - Revenue from the pig farming segment amounted to 9.879 billion yuan, reflecting a year-on-year increase of 32.6% [1] - Pig sales reached 5.1174 million heads, up 27.1% compared to the previous year [1] - The average selling price of commercial pigs was 2,032.7 yuan per head, an increase of 3.5% year-on-year [1] Competitive Advantage - The growth in the pig farming business is supported by the company's advanced and sustainable breeding system, comprehensive precision nutrition and feed formulation technology, continuous technical empowerment, efficient team management, and persistent disease prevention efforts [1] - In a competitive pig farming industry, the synergy of breeding technology, management practices, and disease prevention measures provides the company with significant cyclical resistance [1]
德康农牧发布2025年中期业绩 调整前利润同比大增250%至12.73亿元