Group 1: Pig Farming Business - The company has established a comprehensive biosecurity system, resulting in stable production and effective disease prevention [2] - As of October, the comprehensive cost of pig farming is approximately 6.19 CNY/kg, showing a slight decrease compared to previous months [2] - Future cost reductions will be achieved through breeding technology, digital solutions, production model upgrades, and feed optimization [2][3] - The company is actively responding to national policies on pig production capacity, focusing on eliminating inefficient capacity and managing breeding stock [4] Group 2: Chicken Farming Business - The chicken farming segment maintains high and stable production performance, with the cost of broiler chickens dropping to 5.7 CNY/kg in October [5] - From January to October 2025, the company sold over 13 million cooked chicken products, marking a year-on-year growth of over 15% [6] Group 3: Dividend Policy - Since its listing in 2015, the company has implemented 15 cash dividend distributions, totaling over 30.1 billion CNY, with a cash dividend rate exceeding 60% [7] - The company emphasizes stable cash dividends as a key method of returning value to investors, aligning with its corporate culture [8] - The company aims to maintain a smooth cash dividend amount regardless of profit or loss, ensuring investor satisfaction [9] - With stable operations and strong profitability, the company has a robust capacity for dividend distribution [10] Group 4: Corporate Social Responsibility - The company donated 40 million HKD to support victims of a fire in Hong Kong, demonstrating its commitment to social responsibility and community support [11] Group 5: Financial Position - The company currently has sufficient funds and a high level of financial security, with no new equity financing plans at this time [12]

Core Viewpoint - The company is focusing on expanding its overseas business in the pig farming industry, particularly in Vietnam and surrounding Southeast Asian countries, due to the urgent demand for African swine fever prevention, farm renovation, hardware upgrades, and biosecurity systems [1] Group 1 - The company has reached a cooperation agreement with the local Vietnamese farming company BAF to provide pig farming technology services, hardware support, and personnel training [1] - The aim of this collaboration is to enhance the farming level and management capabilities of local pig farming enterprises in Vietnam [1] - The company's overseas business team is currently familiarizing itself with the local market and industry development conditions [1] Group 2 - The company plans to develop different business strategies and objectives for various countries and regions based on future strategic development needs [1]