“猪茅”牧原股份，拟更名

Group 1 - The company, Muyuan Foods Co., Ltd., plans to change its name to Muyuan Foods Group Co., Ltd., reflecting its internationalization strategy and strengthening group operations [1][3]. - The name change has been approved by the board and will require shareholder approval and regulatory approval to take effect [3][4]. - The company aims to enhance management synergy and operational efficiency through this rebranding, aligning with its global expansion and multi-segment operations [3][4]. Group 2 - The name change does not affect the company's main business, stock abbreviation, or code, and will not impact existing debts, contracts, or operations [4]. - As of February 26, the company's stock price was 45.31 yuan, with a market capitalization of approximately 260 billion yuan [4]. - Muyuan Foods is a leading player in the global pig farming industry, focusing on a closed-loop system across breeding, feed, farming, slaughtering, and food processing, while building cost barriers through intelligent and intensive models [4][5]. Group 3 - The company forecasts a net profit of 14.7 billion to 15.7 billion yuan for 2025, representing a year-on-year decline of 12.20% to 17.79% due to lower average selling prices of pigs [4]. - The complete breeding cost has decreased to approximately 12 yuan per kilogram, down about 2 yuan from 2024, maintaining a cost advantage in the industry [4]. - In January 2026, the company reported the sale of 7.009 million pigs, generating revenue of 10.566 billion yuan, with a selling price of 12.57 yuan per kilogram and a further reduction in breeding costs to 11.7 yuan per kilogram [4]. Group 4 - Analysts suggest that the name change confirms the company's group management and global expansion, potentially opening up opportunities for overseas operations and capital activities [5]. - The company is recognized as a leader in integrated pig farming in China, continuously extending its industrial chain and strengthening its competitive advantage [5]. - The long-term value of the company is rooted in its sustainable core competitiveness, with a strong cost advantage built on breeding, feed, and management [5].