LIHUA(SZ:300761) Xin Lang Cai Jing·2026-01-21 00:37Group 1 - The poultry industry, specifically the yellow feather chicken sector, has entered an upward cycle since Q4 2025, with the company leading in cost efficiency [1][3] - The company expects to achieve a net profit attributable to shareholders of 5.5 to 6 billion yuan in 2025, representing a year-over-year decline of 60.6% to 63.8% [2] - In Q4 2025, the company anticipates a net profit of 2.63 to 3.13 billion yuan, with a year-over-year decrease of 13.1% to 27% [2] Group 2 - The company plans to sell approximately 567 million yellow chickens in 2025, a 10% increase year-over-year, with an average selling price of 11.4 yuan per kilogram [2] - In Q4 2025, the company expects to sell 150 million yellow chickens at an average price of 12.3 yuan per kilogram, contributing approximately 3 to 3.5 billion yuan to profits [2] - The company is also expanding its fresh meat market, with plans to process about 90 million fresh chicken products in 2025 [2] Group 3 - The company’s pig farming business shows significant advantages, with a projected output of approximately 2.1116 million pigs in 2025, a 63% increase year-over-year [2][3] - In Q4 2025, the company expects to sell 606,000 pigs at an average price of 11.88 yuan per kilogram, with an estimated loss of 30 to 40 yuan per pig [2] - The company’s cost structure for pig farming is among the best in the industry, with expectations for further cost reductions [3] Group 4 - The company maintains a "strong buy" investment rating, anticipating continued growth in the yellow chicken market and a long-term leading position in pig farming profitability [4] - The company projects net profits of 5.65 billion yuan in 2025, 11.67 billion yuan in 2026, and 12.16 billion yuan in 2027, with corresponding EPS of 0.67, 1.39, and 1.45 yuan [4] - The company aims to expand its market presence beyond East China, expecting annual growth rates of 8% to 10% in yellow chicken output [4]