Core Viewpoint - The China Securities Regulatory Commission has issued a notice regarding Muyuan Foods Co., Ltd.'s plan to issue up to 546,276,700 overseas listed ordinary shares and list them on the Hong Kong Stock Exchange [1] Group 1: Company Overview - Muyuan Foods is a technology-driven leader in the pork industry and a pioneer in smart pig farming [3] - The company employs a vertically integrated business model that covers the entire pork industry chain, including pig breeding, pig farming, feed production, and meat processing [3]

Core Viewpoint - Muyuan Foods Co., Ltd. has submitted an application to list on the Hong Kong Stock Exchange, with Morgan Stanley, CITIC Securities, and Goldman Sachs as joint sponsors. The company is recognized as a technology-driven leader in the pork industry, employing a vertically integrated business model that covers the entire pork production chain from breeding to slaughtering and meat processing [1]. Group 1: Company Overview - Muyuan Foods is the largest pig farming enterprise globally in terms of production capacity and output since 2021, maintaining the highest pig output for four consecutive years [1]. - The company expanded into the pork slaughtering and meat processing business in 2019 to enhance its operational advantages across the entire industry chain [1]. Group 2: Market Position and Growth - According to Frost & Sullivan, Muyuan Foods is projected to rank fifth globally and first in China in terms of slaughtering numbers by 2024 [1]. - The revenue compound annual growth rate (CAGR) of the company's slaughtering and meat processing business from 2021 to 2024 is the highest among large peers in the Chinese industry [1].