Core Insights - Shennong Group reported a significant increase in pig sales for October 2025, with total sales reaching 335,400 heads, a year-on-year increase of 65.38% [1] - The total sales revenue for October 2025 was 408 million yuan, with an average selling price of 11.04 yuan per kilogram for commercial pigs, reflecting a decrease of 13.88% compared to September 2025 [1] - Cumulatively, from January to October 2025, the company sold 2.445 million heads of pigs, representing a year-on-year growth of 30.99%, with total sales revenue amounting to 3.888 billion yuan [1] Sales Performance - In October 2025, the breakdown of pig sales included 265,900 commercial pigs and 60,600 piglets [1] - The company sold 44,200 heads of pigs to its internal slaughtering enterprises in October 2025 [1] - For the period from January to October 2025, the sales included 2.081 million commercial pigs and 312,100 piglets, with 385,400 heads sold to internal slaughtering enterprises [1]

Core Insights - In October 2025, the company reported sales of 128.33 million chickens, generating revenue of 3.633 billion yuan, with an average selling price of 13.33 yuan per kilogram [1] - The sales of live pigs reached 3.8928 million heads, with a revenue of 5.048 billion yuan and an average selling price of 11.57 yuan per kilogram [1] Sales Performance - Chicken sales in October 2025 included 12.833 million units, with a month-on-month increase of 4.66% in sales volume and 4.91% in revenue, while the average price decreased by 1.48% [1] - Year-on-year, chicken sales volume increased by 8.01%, revenue by 9.96%, and the average price remained unchanged [1] - For live pigs, the sales volume of 3.8928 million heads included 3.4483 million heads of live pigs and 444,500 heads of piglets, with a month-on-month increase of 17.07% in sales volume, while revenue increased by 1.47% [1] - Year-on-year, live pig sales volume increased by 45.69%, but revenue decreased by 13.15%, and the average price dropped by 34.41% [1]

Group 1 - The core viewpoint of the announcement is the significant increase in pig sales and revenue for Tangrenshen Group in April 2025 compared to the same period in 2024, attributed to the "company + farmer" breeding model [2][3] - In April 2025, the company sold 435,200 pigs, a 37.98% increase year-on-year and a 7.48% increase month-on-month, with total sales revenue reaching 762.19 million yuan, up 57.77% year-on-year and 10.98% month-on-month [2] - Cumulatively, from January to April 2025, the company sold 1,697,600 pigs, a 34.47% increase year-on-year, with total sales revenue of 2,944.79 million yuan, reflecting a 62.15% year-on-year increase [2] Group 2 - The primary reason for the growth in pig sales is the increased output from the "company + farmer" breeding model [3] - The announcement specifies that the disclosed data only pertains to the company's pig farming business and does not include information on feed and meat products [4] - The company emphasizes that fluctuations in pig market prices represent a systemic risk that could significantly impact operational performance [4]