Core Viewpoint - The chairman of Haida Group, Xuehua, emphasizes the importance of technological innovation in building a modern agricultural industry system, particularly in the field of aquatic breeding and food security [4][5][6]. Group 1: Aquatic Breeding Strategy - Haida Group aims to create a "deep-sea breeding flagship" by enhancing collaboration between breeding enterprises and research institutions to tackle the challenges of deep-sea breeding [9][12]. - The company has established a comprehensive commercial breeding system that covers major economic species consumed nationally, focusing on breakthroughs in factory-based and deep-sea breeding [10][11]. Group 2: Modern Aquaculture Facilities - The company proposes the construction of "super factories" for near-sea aquaculture to overcome traditional aquaculture limitations and achieve controllable production [13][14]. - Factory-based aquaculture is seen as a modern approach to enhance efficiency and reduce risks, especially in the context of marine ranching [15][16]. Group 3: Feed Supply and Market Position - Haida Group is currently the world's largest feed producer, with an expected feed volume of over 30 million tons this year, aiming to be the first agricultural enterprise to reach this milestone [18]. - The company plans to increase research investment to improve feed supply, particularly focusing on the nutritional needs of marine aquaculture species [20][21]. Group 4: Future Growth Targets - Over the next five years, Haida Group aims to double the growth of its main business segments, with a target revenue of over 200 billion yuan by 2030 and feed sales reaching 51.5 million tons [22][23].

Group 1: Company Overview - The company, Guangdong Haida Group Co., Ltd., reported a 9% year-on-year growth in total feed sales for 2024, surpassing the industry average [2][3] - The poultry and aquaculture feed segments achieved double-digit growth, while pig feed sales experienced a slight decline [2][3] Group 2: Strategic Planning - The company aims to enhance its core capabilities and expand its scale in the feed business, which is its primary focus [3] - The second core business includes breeding and animal health, with plans to invest more resources to expand product varieties, regions, and scale [3] - The company is exploring a light-asset pig farming model and industrialized shrimp farming, which will become key future business areas [3] Group 3: Market Insights - The price of common freshwater fish has been on an upward trend since the beginning of the year, while prices for specific varieties have shown some differentiation [4] - The recent price increase for common freshwater fish is attributed to a prolonged period of low prices and significant capacity reduction in 2023 [5] Group 4: Customer Structure and Adaptation - The company is adapting to the trend of smallholders exiting the pig farming market by enhancing its capabilities and adjusting its customer structure [7] - The focus is on developing partnerships with family farms that have strong farming advantages and profitability, as well as targeting medium to large-scale farming companies [7] Group 5: International Expansion - The company has set a target to achieve 7.2 million tons in overseas feed sales by 2030, employing targeted market expansion strategies in different regions [8] - Factors influencing overseas market selection include population size, stable development environment, rich farming resources, and potential demand for protein [8] Group 6: Risk Management - The company employs foreign exchange hedging to mitigate risks associated with currency and interest rate fluctuations [8]