Tech-Bank(SZ:002124) Sou Hu Cai Jing·2025-10-30 14:13Core Viewpoint - The company reported significant declines in revenue and net profit for the third quarter, indicating ongoing challenges in the pig farming industry and potential risks related to market price fluctuations [1][3]. Financial Performance - In Q3, the company's operating revenue was 2.026 billion yuan, a year-on-year decrease of 28.39% - The net profit attributable to shareholders was a loss of 92.4851 million yuan, down 118.48% year-on-year - The net profit excluding non-recurring items was a loss of 114 million yuan, a decline of 127.55% year-on-year [1] Sales Data - In September 2025, the company sold 612,700 pigs (including 252,300 piglets), generating sales revenue of 634 million yuan, with an average selling price of 13.69 yuan/kg - For the first nine months of 2025, the company sold 4.6373 million pigs (including 1.6101 million piglets), with total sales revenue of 6.085 billion yuan and an average selling price of 15.77 yuan/kg [1][2] Market Trends - The average selling price of commodity pigs has shown a significant downward trend this year, which poses a systemic risk to the entire pig farming industry [2] Restructuring Progress - The company signed restructuring investment agreements with financial investors on July 16, 2025, and is currently progressing with related pre-restructuring work - As of the announcement date, the company has not received court documents regarding the acceptance of its restructuring application [4] Stock Market Performance - As of October 30, the company's stock price closed at 2.85 yuan per share, with a total market capitalization of approximately 6.333 billion yuan, indicating stagnant performance throughout the year [5]