HAID GROUP(SZ:002311) Xin Lang Cai Jing·2025-10-30 23:30Core Viewpoint - Haida Group is a leading feed enterprise in China, with strong R&D capabilities and a complete industry chain advantage in aquaculture and livestock feed sectors [1] Group 1: Business Performance - In Q3 2025, Haida Group achieved a revenue of 960.94 billion, ranking first in the industry, significantly higher than the second-ranked Guangdong Sea Feed's 49.97 billion [2] - The net profit for the same period was 43.63 billion, also ranking first in the industry, far exceeding the second-ranked Tianma Technology's 668.79 million [2] - The main business composition includes feed sales at 471.39 billion (80.13%), agricultural product sales at 97.35 billion (16.55%), trade business at 13.94 billion (2.37%), and other sales at 98.68 million (0.17%) [2] Group 2: Financial Health - As of Q3 2025, Haida Group's debt-to-asset ratio was 47.78%, lower than the previous year's 55.60% and the industry average of 56.54%, indicating good solvency [3] - The gross profit margin for the same period was 11.13%, slightly down from 11.33% year-on-year but still above the industry average of 10.28%, reflecting strong profitability [3] Group 3: Shareholder Information - As of September 30, 2025, the number of A-share shareholders decreased by 11.81% to 19,000, while the average number of circulating A-shares held per account increased by 13.39% to 87,600 [5] - Major shareholders include Hong Kong Central Clearing Limited and Invesco Great Wall New Growth Mixed A, with notable changes in their holdings [5] Group 4: Future Outlook - Haida Group's revenue for the first three quarters of 2025 increased by 13% year-on-year, with net profit rising by 14% [6][7] - The company plans to restructure its overseas feed, seed, and animal health businesses to Haida Holdings and list them on the Hong Kong Stock Exchange, aiming to enhance management and financing capabilities [6] - The feed business is projected to reach over 50 million tons in total sales by 2030, indicating a stable long-term growth trajectory [6]