Core Viewpoint - Muyuan Foods (02714) has successfully listed its shares at a price of HKD 39 each, raising approximately HKD 10.47 billion through the issuance of 274 million shares, with no price fluctuation reported at the time of writing [1] Group 1: Company Overview - Muyuan Foods is a leader in the pig farming industry, employing a vertically integrated business model that encompasses the entire pig industry chain, including breeding, farming, feed production, and meat processing [1] - According to Frost & Sullivan, since 2021, Muyuan Foods has been the largest pig farming enterprise globally in terms of production capacity and output, maintaining the highest pig output for four consecutive years [1] - The company's global market share in pig output has increased from 2.6% in 2021 to 5.6% in 2024, surpassing the combined market share of the second to fourth largest competitors [1] Group 2: Business Expansion - Since 2019, Muyuan Foods has expanded into the pig slaughtering and meat processing business to enhance its operational advantages across the entire industry chain [1] - In terms of slaughter numbers, Muyuan Foods is projected to rank fifth globally and first in China in 2024 [1] - The revenue compound annual growth rate (CAGR) of the company's slaughtering and meat processing business from 2021 to 2024 is the highest among large peers in the Chinese industry [1]