Muyuan Foods (SZ:002714) Zhong Guo Zheng Quan Bao·2025-10-09 15:32Core Viewpoint - The company announced a profit distribution plan for the first half of 2025, with a total cash dividend of 5.002 billion RMB, while also reporting a significant increase in pig sales volume but a decline in sales revenue due to lower prices [2][3]. Group 1: Profit Distribution - The company plans to distribute 9.275214 RMB per 10 shares to shareholders, totaling 5.002 billion RMB [2]. - The record date for the dividend is October 15, and the ex-dividend date is October 16 [2]. - The adjusted cash dividend per share is calculated to be 0.9275214 RMB due to changes in total share capital [2]. Group 2: Sales Performance - In September, the company sold 5.573 million pigs, a year-on-year increase of 11.05%, but the average selling price dropped by 30.94% to 12.88 RMB per kilogram [2][3]. - The total sales revenue for September was 9.066 billion RMB, a year-on-year decrease of 22.46% [2]. - For the first nine months of the year, the company sold 57.323 million pigs, a 14.32% increase, with total sales revenue reaching 103.422 billion RMB, up 8.47% [3]. Group 3: Production Adjustments - The company is reducing the number of breeding sows to stabilize market supply and demand, with a target of 3.3 million sows by year-end [3]. - The company has stopped selling fattening pigs to secondary fattening customers to ensure all pigs are directed to slaughterhouses [3]. - The expected range for piglet output in 2025 has been adjusted from 8 million to 12 million to a new range of 12 million to 14.5 million [4]. Group 4: Cost Management - The company's production costs have decreased from 13.1 RMB/kg in January to 11.8 RMB/kg by July, attributed to improved production performance and reduced unit costs [3].