神农集团前三季度净利润约4.62亿元，区域布局进一步深化

Core Viewpoint - Yunnan Shennong Agricultural Industry Group Co., Ltd. has reported stable overall operations despite challenges from cyclical fluctuations in the pig market, achieved through optimized asset allocation and deepened industry chain layout [1][2] Financial Performance - For the first three quarters of the year, the company achieved operating revenue of 3.923 billion yuan and a net profit attributable to shareholders of 462 million yuan, with a net profit of 433 million yuan after excluding non-recurring gains and losses [1] - In the third quarter alone, the company reported a main business income of 1.126 billion yuan and a net profit of 74.06 million yuan, with a net profit of 34.97 million yuan after excluding non-recurring items [1] - The gross profit margin for the first three quarters was 20.69%, indicating a certain level of profit quality support [1] Cost Management - The company has shown improvement in cost control, with a debt-to-asset ratio of only 27.07% as of the end of the third quarter, the lowest among listed pig farming companies [1] - The complete cost in September was 12.5 yuan per kilogram, placing the company in the first tier of pig farming enterprises [1] Strategic Investments - The company has invested 16 million yuan to establish four wholly-owned subsidiaries in Dali, Baoshan, and Kunming, enhancing its industrial layout within Yunnan province [2] - This strategic move aims to strengthen the synergy of the entire industry chain from feed to breeding to slaughter processing, providing stronger risk resistance against market fluctuations [2] Future Outlook - The company plans to adhere to a philosophy of stable, sustainable, and high-quality development, leveraging regional layout and industry chain synergy to actively respond to market cycle fluctuations [2]