Core Viewpoint - Wens Foodstuff Group has successfully integrated traditional agriculture with capital markets over the past decade, achieving significant growth and resilience despite industry challenges [3][30]. Group 1: Company Milestones - Wens Foodstuff Group celebrated its 10th anniversary of listing on the Shenzhen Stock Exchange on November 2, 2025, marking a significant milestone in its journey [3]. - The company has supplied a total of 43 million tons of poultry and livestock products over the past decade, equating to an annual supply of 6.1 pounds of meat per person in China [3]. - Wens achieved a revenue milestone of over 100 billion yuan, with a compound annual growth rate of 8.1% from 482.4 billion yuan to 1,049.2 billion yuan [30]. Group 2: Governance and Compliance - The company has implemented high standards of governance and compliance, resulting in a significant improvement in information disclosure quality, achieving an A-level rating from 2018 onwards [7][8]. - Wens has maintained a zero compliance record since its listing, setting a governance benchmark for agricultural enterprises [7][8]. - The company has conducted regular training for key personnel on regulatory policies, ensuring that governance principles are deeply ingrained within the organization [7]. Group 3: Industry Challenges and Responses - The African swine fever outbreak in 2018 led to unprecedented challenges in the pig farming industry, with Wens experiencing its first annual loss post-listing [9][10]. - In response to the crisis, Wens focused on biosecurity measures and halted new pig farm constructions to stabilize cash flow and production [10][12]. - The company successfully raised $600 million through overseas bonds and 9.297 billion yuan through convertible bonds, enhancing its financial resilience during downturns [10][12]. Group 4: Technological and Strategic Innovations - Wens has embraced digital transformation by integrating cloud computing, IoT, big data, and AI into its farming processes, enhancing operational efficiency [20][22]. - The company has established the world's largest live breeding resource bank for lean pigs, breaking foreign monopolies in breeding technology [22]. - Wens has invested 6.64 billion yuan in green development initiatives, significantly reducing carbon emissions and promoting sustainable practices [25][30]. Group 5: Financial Performance and Shareholder Returns - Wens has distributed a total of 28.12 billion yuan in cash dividends over 14 occasions, maintaining a dividend payout ratio of 60.1% [30][31]. - The company has successfully executed multiple capital operations, including the issuance of bonds and strategic acquisitions, to strengthen its market position [31][32]. - Wens has implemented several employee incentive plans, benefiting over 17,164 individuals and fostering a culture of shared success [32][33]. Group 6: Future Outlook - Wens aims to continue its focus on the agricultural sector, positioning itself as a leader in meat, egg, and dairy products in China [34]. - The company plans to enhance its brand "Wens Food" and prioritize consumer needs and services in its future strategies [34]. - Wens is committed to achieving its vision of becoming a century-old enterprise, ensuring that its partners and stakeholders thrive alongside its growth [34].

Core Insights - The article celebrates the 10th anniversary of Wens Foodstuff Group's listing, highlighting its journey of integrating traditional industry with capital markets, achieving significant milestones in revenue and product supply [2] - Over the past decade, Wens has maintained a focus on its core philosophy of being industry-based while leveraging capital, resulting in substantial contributions to the agricultural sector and a remarkable growth story [2] Chapter Summaries Chapter 1: Breaking Ground - Wens' journey to listing began with the vision of its founder to create a strong company that could be publicly traded, culminating in its successful listing in 2015 with a market value exceeding 200 billion yuan on the first day [3] - The current chairman emphasized the importance of using industrial strength to support market trust and the need for effective capital tools to build an ecosystem [3] Chapter 2: Rooting Development - The listing brought social oversight, prompting Wens to enhance its governance and operational standards, ensuring compliance with regulatory requirements and modernizing its management [7][8] - The company established a robust governance structure, transitioning from unilateral decision-making to a more systematic approach, which improved management efficiency [8][9] Chapter 3: Riding the Storm - The African swine fever outbreak in 2018 led to significant challenges for the pig farming industry, with Wens facing its first annual loss post-listing [10] - Despite these challenges, Wens demonstrated resilience by focusing on biosecurity measures and strategic adjustments, including halting new pig farm constructions to safeguard cash flow [10][11] - The company successfully raised capital through bond issuances, enhancing its financial stability during downturns [11][14] Chapter 4: Transforming and Growing - Wens has consistently emerged stronger from industry cycles, achieving record sales figures in 2024, including 30.18 million pigs sold and over 1 billion yuan in revenue [18] - The company has invested in digital technologies and innovative breeding practices, establishing itself as a leader in the industry [18][20] - Wens has committed to green development, investing over 6.64 billion yuan in sustainable practices and significantly reducing carbon emissions [22] Chapter 5: A Decade of Growth and Responsibility - Over the past ten years, Wens has seen its revenue grow from 48.24 billion yuan to 104.92 billion yuan, with a compound annual growth rate of 8.1% [28] - The company has distributed over 28.12 billion yuan in dividends, maintaining a high payout ratio even during losses [28] - Wens has positively impacted its partner farmers, generating 86.66 billion yuan in income for them, reflecting its commitment to social responsibility [28] Chapter 6: The Next Chapter - Wens aims to continue its focus on the agricultural sector, aspiring to become a leading provider of meat, egg, and dairy products in China while enhancing consumer engagement [31] - The company emphasizes a long-term vision of sustainable growth and collaboration with partners to ensure mutual success in the agricultural landscape [31]