NEW HOPE(SZ:000876) Xin Lang Cai Jing·2025-10-30 16:16Core Viewpoint - New Hope is a leading enterprise in the domestic agricultural and animal husbandry industry, covering the entire industry chain from feed, breeding, to food production, with strong technological research and development capabilities [1] Group 1: Business Performance - In Q3 2025, New Hope achieved an operating revenue of 80.504 billion yuan, ranking 2nd in the industry, surpassing the industry average of 25.654 billion yuan [2] - The main business composition includes feed at 35.479 billion yuan (68.72%), pig industry at 14.369 billion yuan (27.83%), and others at 1.776 billion yuan (3.44%) [2] - The net profit for the same period was 0.981 billion yuan, ranking 3rd in the industry, with the industry leader, Muyuan Foods, reporting a net profit of 15.112 billion yuan [2] Group 2: Financial Ratios - As of Q3 2025, New Hope's debt-to-asset ratio was 69.49%, higher than the industry average of 57.82% [3] - The gross profit margin for the period was 7.38%, which is lower than the industry average of 14.00% [3] Group 3: Executive Compensation - The chairman, Liu Chang, received a salary of 192,300 yuan in 2024, a decrease of 2.0484 million yuan from 2023 [4] - The president, Tao Yuling, received a salary of 1.5843 million yuan in 2024, an increase of 40,100 yuan from 2023 [4] Group 4: Shareholder Information - As of September 30, 2025, the number of A-share shareholders decreased by 2.24% to 192,600 [5] - The average number of circulating A-shares held per household increased by 2.30% to 23,400 [5] Group 5: Future Outlook - Huazhang Securities reported that New Hope's revenue for H1 2025 was 51.62 billion yuan, a year-on-year increase of 4.1%, with a net profit of 755 million yuan [6] - The company is expected to see growth in its main business revenue and net profit from 2025 to 2027, maintaining a "buy" rating [6] - Zhongyou Securities noted significant cost reduction and efficiency improvement in feed and pig businesses, with expectations for EPS of 0.59 yuan, 0.68 yuan, and 0.95 yuan for 2025 to 2027 [6]