Core Viewpoint - The strategic cooperation between Tianye Cold Chain Company and Jinluo Meat Products Group aims to establish a benchmark in the meat product supply chain, focusing on cold chain logistics and supply chain innovation [2][3][6]. Group 1: Strategic Cooperation Details - The partnership was formalized at a signing ceremony attended by nearly 200 distributors, highlighting its significance in the industry [4]. - The collaboration will focus on key areas such as cold chain warehousing logistics, innovative supply chain services, and digital upgrades [6][7]. - The dual-driven model of "cold chain + channel" will facilitate the transformation of cold chain logistics services from traditional warehousing and transportation to higher value-added supply chain services [8]. Group 2: Operational Enhancements - The cooperation aims to optimize the entire supply chain, focusing on cost reduction and efficiency at the production end, direct distribution at the circulation end, and quality assurance at the consumer end [10]. - Tianye Cold Chain will leverage its extensive network and full cold chain service system to create a front warehouse model for frozen meat products, enhancing Jinluo's sales network in South China [11][12]. - The partnership will also provide inventory turnover support for small and medium-sized distributors, alleviating their financial pressures through collective procurement services [13][14]. Group 3: Digital Transformation - Both companies will work together to promote a digital platform that redefines the existing meat distribution network, encouraging distributors to utilize online ordering systems [15][16]. - The integration of various management systems (order, transportation, warehousing, and settlement) will provide comprehensive cold chain services across Guangdong, enhancing operational efficiency [19][24]. - It is anticipated that delivery efficiency will improve by 20% as a result of these digital enhancements [26]. Group 4: Market Expansion and Safety - The partnership will explore diverse business areas in Guangdong, including food processing, online platforms, chain restaurants, and new media broadcasting [27]. - The cold storage capabilities of Tianye Cold Chain will complement Jinluo's diverse range of meat products, strengthening food quality control, logistics, and market sales [28][29]. - The collaboration aims to ensure food safety and emergency supply capabilities, providing consumers with safe, high-quality, and reliable meat products [30][31].

Group 1: Financial Performance - In Q1 2025, the company achieved a revenue of CNY 5.973 billion, representing a year-on-year growth of 22.40% [4] - The net profit attributable to shareholders was CNY -0.077 billion, with a year-on-year increase of 60.99% [4] Group 2: Challenges and Responses - The decline in feed business revenue was primarily due to a decrease in raw material prices and changes in the structure of downstream breeding groups, with a 11.33% year-on-year drop in feed sales volume [2] - The company plans to accelerate customer transformation and adjust its product structure towards high-margin, cost-effective feed products [2] Group 3: Market Strategy and Competitiveness - The company has a strong competitive advantage through a comprehensive industry chain strategy, advanced products and breeding technology, and digital transformation capabilities [3] - The company aims to maintain and enhance its market share amidst increasing competition by leveraging its 37 years of experience in the pig farming industry [3] Group 4: Cost Management and Risk Mitigation - The company implements a low-cost competitive system and comprehensive disease prevention management to address the cyclical fluctuations in pig prices [5] - In 2024, the company plans to reduce the cost of fattening pigs by CNY 1.59 per kilogram and the cost of weaned piglets by CNY 46.34 per head compared to the previous year [8] Group 5: Expansion Plans - The company focuses on national expansion, particularly in regions such as Hunan, Guangdong, Guangxi, and Shandong for its feed and pig production businesses [6][9] - The meat processing business is being developed through a combination of online and offline strategies for nationwide coverage [6] Group 6: Research and Development - The company continues to invest in product research and development, aiming for a 100% coverage of the new breeding sow system by 2025 [7] - Emphasis is placed on enhancing the quality of pork products and promoting regional specialties to increase the added value of the pig industry chain [7]

Group 1 - The meeting focused on the drafting of national and group standards for meat products, with participation from over 30 representatives from standardization management institutions, research institutes, and the industry [1][2] - Jinluo Group, a leading enterprise in the meat processing industry, proposed multiple suggestions based on nearly 30 years of experience in deep processing of meat products, addressing industry pain points and innovation needs [2][3] - The meeting venue, Linyi City, is recognized as a national food industry processing base, where Jinluo Group has played a key role in standard innovation, having led or participated in the formulation of 101 standards across various fields [3] Group 2 - The drafting group discussed technical content related to product definitions, classifications, sensory indicators, physical and chemical indicators, and inspection rules for four national standards and one group standard [3][4] - The establishment of these standards is expected to significantly enhance the standardization level of the meat product industry, with practical experiences from leading enterprises like Jinluo providing important references for the standards' scientific and applicable nature [3][4] - Jinluo Group aims to leverage its industrial, technological, and standardization advantages to promote the standardization and internationalization of the meat product industry, contributing to food safety and enhancing the global competitiveness of Chinese meat products [4]

新华社北京5月7日电（记者赵文君）假劣肉制品整治行动来了！记者7日从市场监管总局获悉，整 治制售假劣肉制品专项行动，于4月至12月在全国开展，重点针对假冒牛（羊、驴）肉制品、冒充"原切 肉""鲜切肉"等排查整治。 此次专项行动聚焦制售假劣肉制品突出问题开展：重点排查整治生产企业、小作坊采购、使用来源 不明、未经检验检疫或者检验检疫不合格的原料肉，以其他畜禽肉生产假冒牛（羊、驴）肉制品，超范 围超限量使用食品添加剂，非法添加非食用物质，食品配料表标识与生产实际投料不符等问题。 重点排查整治网络食品交易第三方平台提供者对平台内肉制品经营行为、经营者发布的肉制品标识 信息检查监控制度执行不到位，销售页面刊载的信息与实际销售肉制品的标签信息不符等问题。 聚焦用户多、销量大的平台，紧盯"大V""网红"带货的肉制品，加大抽检监测排查力度。深挖细查 制售假劣肉制品违法违规线索，实施全链条打击，依法严惩重处相关违法违规行为，严格落实"处罚到 人"。 市场监管总局表示，鼓励社会各界、新闻媒体加强社会监督和舆论监督，鼓励广大消费者通过全国 12315平台、12315热线向市场监管部门反映制售假劣肉制品问题线索。 重点排查整治城乡 ...

市场监管总局部署开展整治制售假劣肉制品专项行动 金十数据5月7日讯，日前，市场监管总局印发《关于开展整治制售假劣肉制品专项行动的通知》，部署 各地市场监管部门于2025年4月至12月在全国开展整治制售假劣肉制品专项行动，着力解决肉制品制假 售假等人民群众反映强烈的突出问题，切实维护人民群众身体健康。 此次专项行动明确是重点排查整 治生产企业、小作坊采购、使用来源不明、未经检验检疫或者检验检疫不合格的原料肉，以其他畜禽肉 生产假冒牛（羊、驴）肉制品，超范围超限量使用食品添加剂，非法添加非食用物质，食品配料表标识 与生产实际投料不符等问题。 相关链接 ...

不过，进入2025年以来，猪价再次持续低位运行，或给产业链公司经营和业绩带来新的影响。 多家生猪产业链公司年报出炉 业绩有所分化 总体上看，生猪产业链公司业绩有所分化。受益于去年猪价均价同比上涨及位于成本线之上，生猪养殖 公司2024年业绩普遍增长。相较之下，一些主营业务为生猪屠宰业和肉制品加工业的公司2024年业绩则 出现不同程度下滑。 多家生猪产业链公司日前披露了2024年年报。 养猪企业2024年业绩上升的背景是，2024年猪价均价同比上升，且处于行业成本线以上。牧原股份就在 2024年年报中提及，2024年生猪供应量同比下降，生猪价格呈现先涨后跌形态。2024年一季度，国内生 猪价格处于低位运行，行业仍处于亏损状态，二季度以来，行业产能去化带来供需关系改善，生猪价格 持续上涨，8月达到年内高点，随后生猪价格震荡下行。全年来看，2024年生猪均价同比上升，且处于 行业成本线以上，生猪养殖行业扭亏为盈。农业农村部数据显示，2024年出栏生猪头均盈利214元，比 2023年提高了290元。 不过，一些主营业务为生猪屠宰业和肉制品加工业的上市公司2024年业绩则不同程度下滑。 比如双汇发展（000895）的2 ...

Core Viewpoint - The company reported stable business performance in 2024 despite complex macroeconomic conditions, achieving total revenue of 59.715 billion yuan and a net profit of 4.989 billion yuan, with a slight decrease in net profit year-on-year [1][2]. Revenue and Profit Summary - Total revenue for 2024 reached 59.715 billion yuan, with a profit margin of 66.59 billion yuan, reflecting a year-on-year growth of 0.21% [1]. - The net profit attributable to shareholders was 4.989 billion yuan, showing a year-on-year decrease of 1.26% [1]. Business Segment Performance - The slaughtering business generated revenue of 30.334 billion yuan, accounting for 50.93% of total revenue, while the meat products segment contributed 24.788 billion yuan, representing 41.62% of total revenue [2]. - Despite a slight decline in revenue, the gross profit margin for the meat products segment increased by 4.01 percentage points [2]. - Other business segments reported revenue of 9.960 billion yuan, with a year-on-year growth of 10.44% and a gross profit margin increase of 2.11 percentage points [2]. Channel Development - The company had 21,282 distributors by the end of 2024, marking a 19.83% increase from the beginning of the year [1][3]. - The revenue share from the southern region of the Yangtze River increased to 21.786 billion yuan, accounting for 36.58% of total revenue, a growth of 2.27% compared to 2023 [3]. Market Trends and Opportunities - The concentration of the pig slaughtering industry in China reached 48.1% in 2024, indicating a trend towards larger-scale operations and improved efficiency [2][4]. - The increasing demand for pork, which remains the primary source of animal protein in the Chinese diet, is expected to support the company's stable growth [4]. Quality Control and Supply Chain Management - The company has established over 30 modern meat processing bases across 18 provinces, ensuring a stable supply of raw materials [5]. - The implementation of quality management systems such as ISO9001 and HACCP has strengthened the company's product quality control [5]. - A digital traceability system has been developed to enhance supply chain management, ensuring product quality and food safety [5]. Research and Development - In 2024, the company invested 937 million yuan in R&D, representing 1.57% of total revenue, with projects aimed at enhancing product quality and production efficiency [6]. - Completed R&D projects include key technologies for improving the quality of Chinese cuisine and precise preservation of fresh meat [6]. Shareholder Returns - The company plans to distribute a cash dividend of 7.50 yuan per 10 shares, totaling 2.598 billion yuan, which constitutes 64.8% of the distributable profits [1][6].