立华股份：三季度肉鸡完全成本环比提升，猪板块生产效率改善

Core Viewpoint - The company reported an increase in production costs for meat chickens due to rising feed raw material costs and prolonged high-temperature weather, but anticipates a reduction in costs as production normalizes [1] Group 1: Chicken Production - The company's complete cost for meat chickens in Q3 rose to approximately 11.4 yuan/kg, but there is expected room for cost reduction with the arrival of seasonal production [1] - The company has established an annual slaughter capacity of 150 million chickens and aims to enhance capacity utilization to lower processing costs while expanding fresh chicken channels [1] - The target slaughter volume for the company's slaughter segment is set at 100 million chickens by 2025 to further achieve cost reduction and efficiency improvements [1] Group 2: Pig Farming - In Q3, the company's pig farming segment showed continuous improvement in production efficiency, with a complete cost of approximately 12.6 yuan/kg, which decreased to 12.3 yuan/kg in September [1] - The company plans to continue quality improvement and cost reduction efforts in Q4, aiming for a cost target of 12 yuan/kg by the end of the year [1]