立华股份：预计2025年度净利润为5.5亿元~6亿元，同比下降60.55%~63.84%

Core Viewpoint - The company, Lihua Co., is expected to see a significant decline in net profit for 2025, with projections indicating a drop of 60.55% to 63.84% compared to the previous year [1] Summary by Relevant Sections Financial Performance - The projected net profit for 2025 is estimated to be between 550 million to 600 million yuan [1] - The company sold 567 million meat chickens in 2025, maintaining strong competitiveness in the poultry industry [1] - The average sales price of live chickens for the year was 11.4 yuan per kilogram, reflecting a year-on-year decrease of 11.9% [1] - The profitability of the poultry segment has declined year-on-year [1] Market Conditions - The market experienced a downturn in the first half of the year, but sales prices began to recover in the second half [1] - The company accelerated its expansion into the fresh meat market, processing approximately 9 million meat chickens, which accounted for 15.87% of total chicken sales for the year [1] Pork Business - The company sold 2.1116 million live pigs, with significant reductions in breeding costs year-on-year [1] - The average sales price of live pigs for the year was 13.85 yuan per kilogram, showing a year-on-year decrease of about 19.94% [1] - Despite a decline in profitability per pig, the operational profit of the pig farming segment increased year-on-year [1] Business Strategy - The two main business segments of the company achieved a complementary profit performance in the first and second halves of the year, partially offsetting the impact of the industry cycle downturn [1]