温氏股份明确出海方向 优先推动肉鸡业务出海

Core Insights - The company, Wens Foodstuff Group, reported a net profit of approximately 5.4 billion yuan for the first three quarters of 2025, with the pig farming segment contributing about 6.5 billion yuan in profit, while the chicken segment incurred a loss of 700 million yuan [2][3] Group 1: Business Performance - In the first three quarters, Wens sold 27.67 million pigs and 945 million chickens, with a fresh sales ratio of 17% for chicken products [2] - The company achieved a pig farming comprehensive cost of 6.2 yuan per jin in the third quarter, with a piglet production cost of around 260 yuan per head [2] - The chicken segment had a listing rate of approximately 95% in the third quarter, with a complete cost of 5.8 yuan per jin for broiler chickens [3] Group 2: Strategic Focus - Wens aims to prioritize "high-quality growth" in its future development, focusing on breeding high-quality pigs and improving the sales scale of piglets to contribute 5%-10% of total sales [3][4] - The company plans to enhance its chicken processing and deep processing business from 18% to over 40% of total chicken sales [4] - Wens has established an exploration team to prioritize the overseas expansion of its chicken business, leveraging its competitive advantages in the Southeast Asian market [4] Group 3: Market Expansion - The company has received cooperation proposals from enterprises in Malaysia and Indonesia for its overseas expansion efforts [4] - Wens will adopt various models for international operations, including cooperative farming and brand licensing, to ensure efficiency and long-term profitability [4]