Group 1 - The company hosted a specific research meeting with three institutions, focusing on its basic situation and development strategy [1] - For the first nine months of 2025, the company achieved a cumulative pig sales volume of 3.7622 million heads, with a target of 5 to 5.5 million heads for the year [1] - The company maintains a "company + farmer" and "self-breeding" model for pig farming, with 80.64% of fat pig sales coming from the "company + farmer" model as of mid-2025 [1] Group 2 - As of June 30, 2025, the company's debt-to-asset ratio was 64.5%, with cash on hand of approximately 2.4 billion yuan and a net cash flow from operating activities of 660 million yuan for the first half of 2025 [2] - The company has made progress in its breeding system, increasing the proportion of new Dan pigs from 56% to 76% over the past year [2]