牧原股份：在国内公司已完成大规模的产能建设

Core Viewpoint - The company has completed large-scale capacity construction domestically and is entering a phase of full production operation, leading to a projected decrease in domestic capital expenditure in the future [1] Group 1: Domestic Operations - The company has achieved full production status in many of its production lines [1] - Future domestic capital expenditures are expected to decline as a result of completed capacity construction [1] Group 2: International Expansion - The company aims to seize opportunities in overseas markets to create new growth spaces [1] - A recent partnership with BAF Vietnam Agricultural Joint Stock Company has been established to build and operate a livestock farming project in Vietnam [1] - The company believes that replicating its technology and production system in overseas markets will yield good profitability [1] - Future overseas capital expenditures will be determined based on the progress of international business, but are expected to be lower than domestic capital expenditures [1] - The company will make decisions on next year's capital expenditure levels based on market conditions, strategic development plans, and operational needs [1]