Group 1: Company Overview and Strategy - The company has a vision to become a "trillion-dollar enterprise" and a "century-old Wens" [11][21] - Since its establishment in 1983, the company has grown from a small farm to a leading enterprise with total assets increasing by 2.87 times and total revenue by 2.18 times over the past ten years [10] - The company emphasizes high-quality development and strategic mergers and acquisitions to enhance core competitiveness [2] Group 2: Financial Performance - In 2024, the company implemented cash dividends totaling 16.6 billion CNY, with cumulative dividends since 2015 reaching 267.96 billion CNY [3] - For Q1 2025, the company achieved a net profit of 21 billion CNY, with the pig farming business contributing 24 billion CNY in profit [13] - The company plans to distribute 13.2 billion CNY in dividends for the 2024 fiscal year and aims for another mid-year dividend in 2025 [3] Group 3: Investor Relations and Communication - The company held 83 investor communication activities from 2024 to Q1 2025, engaging 1,688 institutional investors [4] - The company has received an A rating for its information disclosure work from the Shenzhen Stock Exchange in 2024 [5] - The company actively manages its market value and investor confidence through buybacks and dividends [39] Group 4: Operational Highlights - In Q1 2025, the company sold 8.59 million pigs and 280 million chickens, achieving sales targets [14] - The company’s pig farming costs are competitive, with a comprehensive cost of 6.3-6.4 CNY per kilogram, which is lower than industry averages [15] - The company aims to reduce its asset-liability ratio to 45% by the end of 2025, down from 51% in Q1 2025 [18] Group 5: Future Outlook and Goals - The company plans to maintain a balanced revenue structure, with pig farming accounting for approximately 60%, chicken farming for 30%, and other businesses for 10% [25] - The company aims to achieve a 4% annual reduction in costs for its main livestock businesses [24] - The company is committed to enhancing its core competitiveness through technological innovation and efficient management practices [20][27]