Core Viewpoint - The company expects a significant decline in profit for the fiscal year ending December 31, 2025, with projected pre-fair value adjustment profits of approximately RMB 1.3 billion to RMB 1.5 billion, compared to RMB 3.297 billion for the fiscal year ending December 31, 2024 [1] Group 1: Financial Performance - The anticipated profit decline is primarily due to the core business of pig farming facing substantial downward pressure on the average selling price of commodity pigs year-on-year [1] - The decline is compounded by a year-on-year drop in the price of yellow feathered chickens, which has also negatively impacted performance [1] - The slaughtering and food business remains in a strategic investment phase, contributing to the overall profit decline [1] Group 2: Operational Efficiency - Despite achieving significant improvements in production operational efficiency and refined cost control, these measures have not fully offset the adverse effects of declining market prices for pigs and yellow feathered chickens [1] - The positive effects of operational improvements have been insufficient to counterbalance the impact of market price declines, leading to a year-on-year decrease in overall profitability [1]
德康农牧(02419.HK)：预计年度录得生物资产公允价值调整前利润约13亿元至15亿元