Investment Rating - The report maintains a "Buy" rating for the company, indicating an expected stock performance that will exceed the market index by more than 15% over the next six months [8]. Core Insights - The company reported a significant increase in revenue and profit for the first half of 2025, with total revenue reaching 76.463 billion yuan, a year-on-year growth of 34.46%, and a net profit attributable to shareholders of 10.53 billion yuan, a staggering increase of 1169.77% [2][5]. - The growth in performance is primarily attributed to the rapid expansion of the pig farming and slaughtering businesses, with the company selling 38.394 million pigs, a 32.5% increase year-on-year, and slaughtering 11.4148 million pigs, a 110.8% increase [5]. - The company has a significant cost advantage in pig farming, with the total cost of pig farming in 2024 estimated at around 14 yuan/kg, and a target to reduce this to an average of 12 yuan/kg for the year [5]. - The slaughtering business is also expanding, with the company establishing over 70 service stations across 20 provinces, achieving a capacity utilization rate of 78.72% in the first half of 2025 [5]. Financial Summary - The company’s total revenue is projected to grow from 137.947 billion yuan in 2024 to 161.475 billion yuan by 2027, with net profit expected to increase from 17.881 billion yuan in 2024 to 29.773 billion yuan in 2027 [6]. - The earnings per share (EPS) are forecasted to be 3.60 yuan for 2025 and 4.23 yuan for 2026, reflecting a positive growth trajectory [6].