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 ...

Core Viewpoint - The State Administration for Market Regulation has initiated a special action to address the production and sale of counterfeit and substandard meat products, aiming to resolve significant public health concerns from April to December 2025 [1] Group 1: Action Details - The special action will focus on inspecting and rectifying issues related to meat production enterprises and small workshops that procure and use raw meat from unknown sources, or meat that has not passed inspection and quarantine [1] - The initiative targets the production of counterfeit beef, lamb, and donkey meat products, as well as the excessive and unauthorized use of food additives [1] - It also addresses illegal additions of non-food substances and discrepancies between food ingredient labels and actual production inputs [1]

Core Insights - The performance of companies in the pig industry chain has shown significant differentiation in their 2024 annual reports, with pig farming companies generally experiencing growth while meat processing companies faced declines [2][4]. Summary by Category Pig Farming Companies - Leading pig farming company Muyuan Foods (牧原股份) reported a revenue of 137.947 billion yuan in 2024, a year-on-year increase of 24.43%, and a net profit of 17.881 billion yuan, marking a return to profitability [2]. - Wens Foodstuff Group (温氏股份) achieved a revenue of 104.863 billion yuan, up 16.64% year-on-year, with a net profit of 9.23 billion yuan, also returning to profitability [2]. - Juxing Agriculture (巨星农牧) reported a revenue of 6.078 billion yuan, a 50.43% increase, and a net profit of 519 million yuan, indicating a return to profitability [3]. - The overall increase in pig farming companies' performance is attributed to a rise in average pig prices in 2024, which remained above the industry cost line, leading to a profit of 214 yuan per pig, an increase of 290 yuan compared to 2023 [3]. Meat Processing Companies - Shuanghui Development (双汇发展) reported a revenue of 59.561 billion yuan, a decrease of 0.55%, and a net profit of 4.989 billion yuan, down 1.26%, impacted by lower sales of packaged meat and fresh pork products [4]. - Bright Food Group (光明肉业) disclosed a revenue of 21.987 billion yuan, a decline of 1.7%, with a net profit of 216 million yuan, down 4.22%, affected by challenges in its core meat business [4]. Market Trends - As of 2025, pig prices have entered a period of relative low, which may impact the operational performance and financial results of companies in the industry [5]. - Data from the Ministry of Agriculture indicates that as of April 23, 2025, the market price of live pigs was 14.96 yuan per kilogram, lower than the end of 2024 price of 15.98 yuan per kilogram, reflecting a significant decline from the peak prices in August 2024 [6].

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].