京基智农2025半年报：主业稳增彰显经营韧性 生态农业助力乡村振兴

Core Viewpoint - 京基智农 has demonstrated steady growth in its operations, with significant revenue and profit increases in the first half of 2025, driven by its strong pig farming business and effective management strategies [1][2]. Financial Performance - In the first half of 2025, 京基智农 achieved a total revenue of 2.387 billion yuan and a net profit of 226 million yuan, with operating cash flow of 311 million yuan [1]. - The pig farming segment generated 1.925 billion yuan in revenue, marking an 11.13% year-on-year increase, accounting for 80.67% of total revenue [1]. - For the period from January to July 2025, the company reported a cumulative pig output of 1.2657 million heads and sales revenue of 2.243 billion yuan, reflecting a 10.38% year-on-year growth [2]. Operational Efficiency - 京基智农 has improved its operational efficiency through refined management practices, leading to enhanced capacity utilization across projects [1]. - The company has successfully reduced sales and financial expenses, resulting in a decrease in the asset-liability ratio to 58.33%, down 1.93% from the previous year [2]. Market Position - 京基智农 has established a strong market presence in the Guangdong, Guangxi, and Hainan regions, benefiting from the high demand for pork in the economically developed and densely populated Guangdong-Hong Kong-Macao Greater Bay Area [2]. - The average selling price of pigs in July was 15.66 yuan/kg, positioning 京基智农 among the top companies in the industry [2]. Technological Advancements - The company employs advanced farming technologies, including a "building farming + 6750 self-breeding and self-raising integration" model, which incorporates automated feeding, environmental control, and big data management for smart farming [3]. - 京基智农 has invested in research and development, holding 30 utility model patents, 3 invention patents, and 21 software copyrights, with R&D expenditures of 23.9365 million yuan in the first half of 2025 [4]. Social Responsibility - 京基智农 actively supports rural development through contract farming, providing comprehensive support to partner farmers, which has led to a 98% survival rate for pig batches among excellent farmers [5]. - The company has initiated an ecological circular agriculture system and has built a feed processing plant that converts local agricultural waste into high-nutrition feed, generating significant local economic benefits [6]. Future Outlook - With the peak season for pork consumption approaching and ongoing policy adjustments improving the supply-demand structure, 京基智农 is expected to further unlock its performance potential and achieve sustainable growth [6].