益生股份：2025年净利同比预降62.29%-70.23%

Core Viewpoint - Yisheng Co., Ltd. (益生股份) expects a significant decline in net profit for the year 2025, projecting a decrease of 62.29% to 70.23% compared to the previous year, primarily due to low prices in the chicken market and reduced sales prices of its products [4]. Financial Performance - The company forecasts a net profit attributable to shareholders of between 150 million to 190 million yuan for 2025 [4]. - The expected non-recurring net profit is projected to be between 153 million to 193 million yuan, reflecting a year-on-year decline of 61.4% to 69.4% [4]. - Basic earnings per share are estimated to be between 0.14 yuan and 0.17 yuan [4]. - As of January 26, the company's price-to-earnings ratio (TTM) is approximately 54.97 to 69.63 times, with a price-to-book ratio (LF) of about 2.49 times and a price-to-sales ratio (TTM) of around 3.46 times [4]. Business Segments - The company's main business includes the breeding and sales of grandparent and parent stock broilers, as well as the production and sales of piglets, feed, and dairy products [13]. - Despite a more than 10% year-on-year increase in the sales volume of commercial broiler chicks, the company faced significant losses in this segment due to a sharp decline in sales prices [13]. - The company experienced a substantial growth in its breeding pig business, with sales reaching 98,400 heads, an increase of 228.43% year-on-year, which has become a crucial profit driver to offset losses in the broiler segment [13].