Core Viewpoint - He Feng Co., Ltd. reported significant growth in revenue and profitability for the first half of 2025, driven by increased sales in feed and livestock, alongside lower raw material costs [1][2]. Group 1: Financial Performance - The company achieved a revenue of 17.407 billion yuan, representing a year-on-year increase of 16.27% [1]. - Net profit attributable to shareholders was 233 million yuan, marking a return to profitability compared to the previous year [1]. - The basic earnings per share were 0.27 yuan [1]. Group 2: Sales and Production - Total feed sales reached 2.1 million tons, up 16% year-on-year, with pig feed increasing by 23%, poultry feed by 13%, and ruminant feed by 17% [2]. - The company raised its market share in high-value channels, with sales of processed chicken products increasing by 40% [2]. Group 3: Livestock Operations - The company has a stable breeding stock, with a total of 58,000 sows as of June 2025, including 47,000 breeding sows [3]. - In the first half of 2025, the company sold a total of 840,000 pigs, including 740,000 fattening pigs and 100,000 piglets and breeding pigs [3]. Group 4: Capital Investment - The company plans to invest 70 million yuan in its subsidiary, Jinzhou Xinfeng, to enhance its operational capabilities and support business development [4].

Group 1: Financial Performance and Strategies - The company is implementing measures such as enhancing procurement management, optimizing feed formulas, improving production efficiency, and advancing breeding techniques to lower production costs in response to fluctuating pig prices [1] - The company aims to maintain a comprehensive integrated operation model in the pig industry chain to mitigate the adverse effects of price volatility on its performance [1] Group 2: Business Segments - The company's main business includes three major segments: pig farming, pig slaughtering, and deep processing of meat products, along with supporting operations in feed processing and poultry farming and slaughtering [2] Group 3: Debt Management - The company plans to reduce its debt ratio by expanding cash flow sources from operating activities, using part of the funds raised from private placements to repay bank loans, and utilizing supply chain financial instruments to lower interest-bearing debts [2]