外购仔猪成本均价每头超五百元，唐人神第三季度养猪业务亏损增加

Core Viewpoint - The company expects to achieve over 6.5 million tons in feed sales, over 5 million pigs sold, and meat revenue exceeding 1.6 billion yuan by 2025 [1] Group 1: Company Overview - The company, 唐人神, has developed a full industry chain model from feed production to pig farming and meat processing, with feed business accounting for approximately 62% of total revenue [1] - The company has been focusing on low-cost pig farming to continuously reduce breeding costs, creating a positive interaction among its feed, breeding, and meat businesses [1] Group 2: Financial Performance - The company reported losses in both the first three quarters and the third quarter of this year [1] - In the first half of the year, the average selling price of fat pigs decreased by 0.34 yuan per kilogram, impacting profits by approximately 100 million yuan and leading to a year-on-year profit decline [1] - The primary reason for the third-quarter loss was the low pig prices, with a significant proportion of pigs sold being purchased piglets, which had an average cost exceeding 500 yuan per head, increasing losses in the breeding business [1] - The company has prudently set aside 160 million yuan for inventory impairment due to anticipated low pig prices in the future [1]