Core Viewpoint - TianKang Biological has reported a significant turnaround in its financial performance for 2024, achieving a net profit of 605 million yuan, compared to a loss in the previous year, indicating a successful V-shaped recovery in its operations [1][2]. Group 1: Financial Performance - The company achieved total operating revenue of 17.176 billion yuan, with a notable increase in profit margins across its three main business segments: pig farming, feed, and veterinary medicine [1]. - The pig farming segment generated revenue of 6.157 billion yuan, reflecting an 11.11% increase year-on-year, with a gross margin of 14.61%, up by 28.43% from the previous year [2]. Group 2: Business Structure and Capabilities - TianKang Biological is recognized as a key agricultural enterprise in China, with a complete industry chain covering breeding, feed management, veterinary medicine, and meat processing [1]. - The company operates over 30 feed production facilities nationwide and ranks among the top 20 in the national feed industry [1]. Group 3: Research and Development - The company has invested over 15% of its biopharmaceutical sales revenue into R&D, establishing research centers in Xinjiang and Jiangsu [2]. - It has developed China's first genetically engineered inactivated vaccine for swine fever, providing significant support for disease control in pigs [2]. Group 4: Future Outlook - TianKang Biological aims to achieve a total revenue of 21 billion yuan by 2025, with specific targets for feed production, animal vaccines, and pig output [3]. - The company plans to enhance its service offerings to farmers, focusing on key areas such as feed, breeding, and veterinary services to improve farming efficiency [3]. Group 5: Shareholder Returns - The company has proposed a cash dividend of 2.20 yuan per 10 shares, translating to an approximate dividend yield of 3.52% based on the closing price on April 28 [3].