Core Viewpoint - The private economy is a driving force for China's modernization and a cornerstone for high-quality development, with financial support for the real economy, especially agriculture, being emphasized in recent policies [2]. Group 1: Company Initiatives - Muyuan Foods, a leader in the pig farming industry, has actively participated in the bond market's "Technology Board" initiative, showcasing a model for real enterprises to engage in capital markets [2][3]. - The company issued its first technology innovation bond on May 9, 2023, with a scale of 300 million yuan, a term of 270 days, and a coupon rate of 1.95%, which was well-received by investors [3][5]. - The issuance of the technology bond is significant as it marks the first of its kind for a pig farming enterprise, creating a model for an "agriculture-technology-finance" closed-loop system [3][4]. Group 2: Financial and Regulatory Support - The bond issuance process was expedited by the trading association, which opened a "green channel" for compliance review and issuance, reflecting regulatory support for agricultural technology innovation [4]. - The main underwriter, CITIC Bank, established a dedicated service team to facilitate the bond issuance, resulting in a lower financing cost for the company [5]. Group 3: Technological Innovation - Muyuan Foods has invested over 20 billion yuan in research and development over the past five years, focusing on various technologies related to breeding, feed nutrition, health management, and smart farming [6]. - The company has developed smart farming equipment that optimizes feed allocation and environmental control, significantly enhancing production efficiency and reducing costs [6][7]. - As of May 2025, the total cost of pig farming for Muyuan is projected to drop to approximately 12.2 yuan per kilogram, the lowest in recent years, indicating successful cost management through innovation [7]. Group 4: Future Outlook - Muyuan Foods aims to explore multiple financing channels to support its innovative development needs and continue advancing in smart farming, green energy, and digital agriculture [8]. - The company is committed to enhancing its creditworthiness and sustainable development to ensure successful financing in the future [7].