Core Points - The 2025 World Cantonese Business Conference opened in Guangzhou, showcasing local specialty products and highlighting the growth of county-level economies through the "Hundred Million Project" [1] - The Guangdong Provincial Federation of Industry and Commerce is leading initiatives to promote urban-rural integration and support local economies, with significant investments from private enterprises [1][2] - Various regions, including Meizhou and Maoming, are actively promoting their investment environments and offering substantial financial incentives to attract businesses [2][3] Group 1: Economic Development Initiatives - The "Hundred Million Project" aims to address urban-rural development imbalances, focusing on county economies and rural revitalization [2] - Over 2,066 business associations have partnered with 109 counties, investing over 35.6 billion yuan, while 11,688 private enterprises have invested 16.43 billion yuan in 8,992 villages [1] - The project has led to significant economic transformations, with 17 districts and 2 counties recognized as national top performers [5] Group 2: Investment Attraction Strategies - Regions like Meizhou are implementing policies such as "Free Meizhou," offering free services to investors, which has garnered positive responses from entrepreneurs [2] - Maoming has established an industrial fund exceeding 2 billion yuan to support enterprise development, while also benefiting from various local and provincial incentives [3] - The development of modern transportation infrastructure, such as high-speed rail, is enhancing market connectivity and reducing logistics costs for businesses [4] Group 3: Role of Leading Enterprises - Leading companies like XWDA and Wen's Food Group are playing pivotal roles in driving local economic growth and supporting the "Hundred Million Project" through innovative business models [6][7] - XWDA is developing an electronic information industrial park, attracting numerous upstream and downstream enterprises, with planned investments exceeding 2.3 billion yuan [6] - Wen's Group has introduced a collaborative model that allows local communities to benefit from shared economic growth, with projects generating significant annual revenues [7] Group 4: Financial Support and Collaboration - China Postal Savings Bank is actively supporting county-level development with a focus on agriculture and small enterprises, with loans exceeding 82.3 billion yuan for manufacturing and 135.3 billion yuan for agriculture [5] - The Guangdong Digital Industry Association is facilitating partnerships between quality enterprises and county needs, promoting technological and capital flow into rural areas [8] - The collaboration has extended to regions like Tibet, where unique local resources are being developed with the support of Guangdong enterprises [8]

Sales Performance - In Q1 2025, the company achieved a feed product sales volume of 117,400 tons, representing a year-on-year growth of 12.2% [1] - Revenue for Q1 2025 reached 933 million yuan, an increase of 9.58% compared to the previous year [1][2] Growth Drivers - The "Spring Action" initiative significantly boosted the activity of business personnel, leading to a substantial increase in market visits and customer acquisition [2] - The "Yuehai Wealth Creation" exchange meetings and promotional policies enhanced brand awareness and product sales among farmers [2] Cost Management - The company implemented precise nutritional design, raw material substitution, and process upgrades to mitigate the impact of fluctuating prices of fish meal and soybean meal [2] - In 2025, the company aims to achieve a 10% increase in growth rate, a 10% reduction in feed conversion ratio, and a 50% decrease in losses through these measures [2] Product Development - The company continues to focus on the research and production of special aquatic feed, launching new products in 2024 that received positive market feedback [3] - The diverse range of aquatic feed products covers different growth stages of aquatic animals, establishing a solid foundation for future sales targets [3] Financial Health - As of the end of Q1 2025, contract liabilities amounted to 295 million yuan, a year-on-year increase of 39.81% [3] - Accounts receivable decreased to 1.221 billion yuan, down 4.14% from the previous year, indicating improved collection efficiency [4] Research and Development - The company has established multiple research centers and has received several provincial and national awards for its technological innovations and successful project collaborations [4] - Significant advancements in product quality and performance have been achieved through extensive research and development efforts [4] E-commerce Strategy - In 2024, the food segment generated over 110 million yuan in sales, with Q1 2025 monthly sales exceeding 20 million yuan [5] - The company is expanding its e-commerce presence through partnerships with popular online platforms and influencers to enhance brand visibility and sales [5][6] Cost Efficiency - The sales expense ratio decreased from 11.49% in Q1 2024 to 10.22% in Q1 2025, reflecting ongoing management improvements and cost control measures [6]