唐人神：2025年全年预计净亏损9.50亿元—11.50亿元

Core Viewpoint - The company, Tangrenshen, forecasts a significant net loss for the year 2025, with expected losses ranging from 950 million to 1.15 billion yuan, indicating ongoing challenges in the swine industry and operational management [1] Financial Performance - The projected net profit attributable to shareholders for 2025 is expected to be a loss of 950 million to 1.15 billion yuan, while the net profit excluding non-recurring gains and losses is anticipated to be a loss of 920 million to 1.09 billion yuan [1] - The average selling price of commercial pigs for the year is estimated to be approximately 13.36 yuan per kilogram, reflecting a year-on-year decline of about 18.61% [1] Operational Strategy - The company will continue to focus on the entire swine industry chain and strengthen its feed business, with an expected feed sales volume of around 6.5 million tons for 2025 [1] - The company aims to enhance the production management of its pig breeding operations, with the goal of achieving full production capacity by the end of 2025 [1] Cost Management - The company has experienced a decrease in weaned piglet and fattening costs, although the utilization rate of its own fattening pig farms has not met expectations due to the purchase of high-priced piglets for fattening [1] - Due to the decline in pig prices, the company has made provisions for inventory impairment on its consumable biological assets in accordance with accounting standards and principles of prudence [1]