新希望2025年业绩阶段性承压 2026年将进一步降低养殖成本

Core Viewpoint - New Hope Liuhe Co., Ltd. anticipates a net profit loss of 1.5 billion to 1.8 billion yuan for the year 2025, primarily due to fluctuations in pig prices and operational challenges in its pig farming business [1] Group 1: Company Performance - The company expects a net profit loss of 1.5 billion to 1.8 billion yuan for 2025, with a non-recurring net profit loss estimated between 1.18 billion to 1.48 billion yuan [1] - New Hope's pig farming business has faced pressure due to a decline in pig prices, which fell more than the reduction in production costs, leading to decreased profitability [1][2] - In 2025, New Hope sold 17.5454 million pigs, generating sales revenue of 23.205 billion yuan, but the average selling price of pigs has been on a downward trend, reaching a low of 11.28 yuan per kilogram in December 2025 [2] Group 2: Industry Context - The pig farming industry has experienced collective profit declines due to price fluctuations, with 12 listed companies in the A-share pig farming sector forecasting reduced net profits for 2025 [2] - The average profit for self-bred and self-raised pigs in 2025 dropped significantly, with a decline of 78.42% year-on-year, averaging 74.96 yuan per pig [3] - Analysts predict that pig prices may gradually recover in 2026, with expectations of a V-shaped price trend, influenced by supply adjustments and seasonal demand [3]