Core Points - The stock price of Huadong Co., Ltd. dropped by 2.02% on November 12, trading at 11.17 yuan per share with a market capitalization of 8.993 billion yuan [1] - The company has seen a year-to-date stock price decline of 11.42%, but a slight increase of 0.81% over the last five trading days [1] Financial Performance - For the period from January to September 2025, Huadong Co., Ltd. reported a revenue of 6.088 billion yuan, a year-on-year decrease of 6.13%, while the net profit attributable to shareholders was 71.016 million yuan, reflecting a year-on-year increase of 32.93% [2] - Cumulative cash dividends since the company's A-share listing amount to 85.166 million yuan, with 16.549 million yuan distributed over the past three years [3] Shareholder Information - As of September 30, 2025, the number of shareholders decreased by 4.94% to 33,300, while the average circulating shares per person increased by 33.14% to 18,897 shares [2] - Among the top ten circulating shareholders, notable changes include a decrease of 1.6 million shares held by the sixth-largest shareholder and an increase of 484,900 shares held by the eighth-largest shareholder [3]

Core Insights - COFCO Jiajia Kang (01610.HK) reported operational updates for October 2025, indicating a total of 585,000 pigs were sold during the month [1] - The average selling price for commercial pigs was 11.58 RMB per kilogram [1] - Fresh pork sales reached 32,300 tons in October [1] Company Performance - The number of pigs sold in October reflects the company's operational scale and market demand [1] - The average price per kilogram suggests stable pricing in the pork market, which may impact revenue [1] - The volume of fresh pork sold indicates the company's market penetration and consumer preference [1]

Group 1 - The core point of the article is that COFCO Joycome (01610) reported an increase in pig production and sales metrics for October 2025, indicating positive growth in its operations [1] Group 2 - The company achieved a pig output of 585,000 heads in October 2025, representing a 25% increase compared to the previous period [1] - The average selling price of commercial pigs was 11.58 yuan per kilogram [1] - Fresh pork sales reached 32,300 tons, with brand revenue accounting for 34.52% of the fresh pork business [1]

Core Viewpoint - COFCO Jiajia Kang (01610) reported a significant increase in pig production and sales, indicating strong operational performance in the fresh pork market [1] Group 1: Production and Sales Performance - The company achieved a pig output of 585,000 heads in October 2025, representing a 25% increase compared to the previous month [1] - The average selling price of commodity pigs was 11.58 yuan per kilogram [1] - Fresh pork sales reached 32,300 tons, with brand revenue accounting for 34.52% of the fresh pork business [1]

（於開曼群島註冊成立的有限公司） （股份代號：01610） 自願公告 2025年10月運營快報 此乃中糧家佳康食品有限公司（「本公司」）作出的自願公告。 本公司董事會（「董事會」）謹此宣佈，本公司及其附屬公司（「本集團」）2025年10月主要運 營數據（未經審核）如下： 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完 整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或因倚賴該等內 容而引致的任何損失承擔任何責任。 1 「生鮮豬肉業務中品牌收入佔比」指品牌生鮮豬肉業務收入除以生鮮豬肉業務收入。 務請注意，上述所有數字均未經審核，亦未經本公司核數師確認，或會予以調整並有待最終確認。 本公司股東及潛在投資者於買賣本公司股份時務請審慎行事。 1 承董事會命 中糧家佳康食品有限公司 高翔 主席兼執行董事 中國北京，2025年11月10日 於本公告日期，董事會成員包括：董事會主席兼執行董事高翔博士，執行董事張楠博士，非執行董 事陳志剛先生及王國新先生，獨立非執行董事傅廷美先生、李恆健先生及鞠建東博士。 2 | | 生豬出欄量（千頭） | | 商品大豬銷售均價 ...

Core Insights - The stock price of Huadong Co., Ltd. increased by 2.03% on November 4, reaching 11.07 CNY per share, with a total market capitalization of 8.912 billion CNY [1] - The company has experienced a year-to-date stock price decline of 12.21%, but a slight increase of 1.56% over the past 20 days [1] - For the first nine months of 2025, Huadong Co. reported a revenue of 6.088 billion CNY, a year-on-year decrease of 6.13%, while net profit attributable to shareholders increased by 32.93% to 71.016 million CNY [2] Financial Performance - The company’s main revenue sources include fresh pork (94.51%), fresh poultry (2.42%), and other products [1] - Cumulative cash dividends since the A-share listing amount to 85.166 million CNY, with 16.549 million CNY distributed over the past three years [3] Shareholder Structure - As of September 30, 2025, the number of shareholders decreased by 4.94% to 33,300, while the average number of circulating shares per shareholder increased by 33.14% to 18,897 shares [2] - Major shareholders include招商产业精选股票A and银华农业产业股票发起式A, with changes in their holdings noted [3]

Core Insights - The company reported a strong performance in Q3 2025, achieving a revenue of 44.523 billion yuan, a year-on-year increase of 1.19%, and a net profit of 3.959 billion yuan, up 4.05%, indicating robust operational resilience [1][2] Financial Performance - The net profit for the first three quarters reached 3.959 billion yuan, with a core net profit of 3.815 billion yuan, reflecting a growth of 4.05% and 3.78% respectively [2] - In Q3 alone, the net profit was 1.636 billion yuan, showing a significant year-on-year increase of 8.45% [2] - The weighted average return on equity for the first three quarters was 18.50%, up 0.51 percentage points from the previous year [3] Cost Management and Product Structure - The company has effectively managed costs and upgraded its product structure, with sales expenses increasing by 8.72% to 1.566 billion yuan, while management expenses slightly decreased by 1.23% to 0.954 billion yuan [3] - The management anticipates a continued decrease in raw material costs in Q4, while also planning to increase market support and promotional expenses [3] Sales Volume and Market Expansion - Total meat sales reached 2.4885 million tons, marking a year-on-year increase of 5.92%, with Q3 sales alone at 0.9232 million tons, up 9.97% [4] - Fresh pork sales grew by 13.4% to 1.087 million tons, while poultry sales surged by 18.4% to 0.285 million tons, both achieving historical highs [4] - Despite a 5.6% decline in processed meat sales to 1.03 million tons, the second and third quarters showed signs of recovery [4] New Channels and Product Development - New sales channels have shown significant growth, with new channel sales increasing by 34% in Q3 [5] - The company is expanding into e-commerce and instant retail, aiming to build a multi-tiered brand matrix [5] - New product launches, such as various types of sausages, have received positive market feedback, with plans to focus on high-end and cost-effective products [6] Future Strategy - The company has outlined a strategic direction focusing on industrialization, diversification, internationalization, and digitalization [6] - Plans include enhancing market innovation, upgrading fresh product networks, expanding new sales channels, and optimizing supply chain management [6]

Sales Performance - Packaged meat product sales reached 1.03 million tons, a year-on-year decrease of 5.6% [3] - Fresh pork sales increased to 1.087 million tons, a year-on-year growth of 13.4% [3] - Poultry meat sales reached 285,000 tons, a year-on-year increase of 18.4% [3] - Total meat sales amounted to 2.49 million tons, a year-on-year increase of 5.9%, marking a record high for the period [3] Financial Overview - Total revenue for the first nine months was 44.65 billion yuan, a year-on-year increase of 1.2% [27] - Total profit reached 5.19 billion yuan, a year-on-year growth of 1.3% [27] - Net profit attributable to shareholders was 3.96 billion yuan, a year-on-year increase of 4.1% [27] - Earnings per share stood at 1.14 yuan, reflecting a 4.1% year-on-year growth [27] Quarterly Insights - The first quarter faced significant operational pressure, while the second and third quarters showed improvement due to market reforms and digital empowerment [4] - In the third quarter, the average profit per ton of meat products reached a historical high of over 5,000 yuan, benefiting from reduced costs and increased sales of premium products [8] Strategic Initiatives - The company plans to accelerate market innovation and enhance customer development, particularly in fresh products [6] - Continued focus on digital transformation across supply chain, sales, and production management to improve operational efficiency [7] - Emphasis on expanding new sales channels and promoting high-cost performance products to adapt to changing consumer demands [10] Industry Context - The global economic environment remains challenging, with trade tensions and uncertain tariff policies impacting the market [41] - Domestic economic stability is observed, but overall consumer demand in the fast-moving consumer goods sector is weak [41] - The pork market is characterized by ample supply and relatively low prices, leading to intensified competition [43] Future Outlook - The company aims to achieve significant year-on-year growth in sales and improve operational quality through strategic initiatives [69] - Plans to enhance production management in the pig and poultry sectors to further reduce costs and improve performance [70]

Group 1 - Southbound funds increased their holdings in WH Group Limited (00288.HK) by 1,500 shares on October 17, 2025 [1] - Over the past 5 trading days, there has been a cumulative net increase of 12,134,500 shares held by southbound funds [1] - In the last 20 trading days, the total net increase in holdings by southbound funds reached 57,603,300 shares [1] Group 2 - As of now, southbound funds hold 552 million shares of WH Group Limited, accounting for 4.29% of the company's total issued ordinary shares [1] - The company operates primarily in the pork business through three segments: meat products, pork, and others [2] - The meat products segment is involved in the production, wholesale, and retail of both chilled and frozen meat products [2]

Group 1 - The core point of the article is that COFCO Joycome (01610) reported a decrease in pig output and provided key financial metrics for its pork business [1] Group 2 - In September 2025, the pig output was 468,000 heads, representing a month-on-month decrease of 6.02% [1] - The cumulative pig output for the year reached 4.321 million heads [1] - The average selling price of commercial pigs was 12.93 yuan per kilogram [1] - Fresh pork sales volume was 29,000 tons, with brand revenue accounting for 32.4% of the fresh pork business [1]