NEW HOPE(SZ:000876) Mei Ri Jing Ji Xin Wen·2025-09-01 14:05Core Viewpoint - New Hope has reported a turnaround in its financial performance for the first half of 2025, achieving profitability with a net profit of 755 million yuan, compared to a loss in the previous year [2][3]. Financial Performance - The company achieved a revenue of 51.625 billion yuan in the first half of 2025, representing a year-on-year growth of 4.13% [2]. - The feed sales volume reached 13.93 million tons, up 13% year-on-year, with export feed sales of 11.48 million tons, increasing by 16% [2]. - The pig farming segment generated a revenue of 14.369 billion yuan, with 2.0566 million piglets and 6.3928 million fattened pigs sold [3]. Cost Management - New Hope's total cost for fattening pigs is currently 13.1 yuan per kilogram, with some regions achieving costs below 12 yuan per kilogram [4]. - The company aims to further reduce costs by improving genetic traits of breeding pigs and enhancing internal management to narrow the cost gap with top-performing farms [4][6]. Strategic Initiatives - New Hope is collaborating with Topigs Norsvin, a leading global pig breeding company, to enhance its breeding stock [5]. - The company plans to maintain its breeding sow capacity at 760,000 heads, focusing on improving the quality of its breeding stock rather than increasing quantity [6]. Industry Outlook - The company believes that current policies in the pig farming industry will positively impact long-term development, with expectations of rising pig prices as measures are implemented [6]. - New Hope is actively optimizing its self-breeding operations and managing its fattening costs while adhering to national capacity control policies [6].