证券日报网讯隆平高科（000998）8月5日在互动平台回答投资者提问时表示，2024年种业市场整体承 压，公司聚焦主业，强化科研，提质增效，攻坚克难，展现出了较强的经营韧性。公司与同行业在收入 结构和销售模式上存在差异，不具有可比性，比如收入结构方面，公司种业收入占营业总收入的比例达 90%以上，部分同行业的种业收入占比较低，计算基数大，导致费用率低于公司。销售模式方面，公司 销售品种大都是自研品种，与部分同行业销售模式有较大差异，销售费用率相对较高。2025年，公司持 续聚焦种业主业发展，夯实创新根基，巩固优势行业地位，积极通过资本运作和瘦身健体，改善资本结 构，加快国际化发展进程，提升管理能力，为股东创造长期价值。 ...

Group 1: Overall Financial Performance - In 2024, the company achieved total revenue of 28.767 billion CNY, with feed product revenue accounting for 19.054 billion CNY (66.24%) [2] - The net profit for 2024 was 715 million CNY, with a year-on-year growth of 115.9% [2] - The overall gross profit margin improved to 15.14% [2] Group 2: Business Segment Performance Feed Segment - In 2024, external sales volume of feed products was 5.4055 million tons, a decrease of 7.6% year-on-year [3] - Revenue from pig feed was 14.658 billion CNY, down 21.7% due to raw material price declines [3] - Aquaculture feed external sales volume decreased by 29.9%, with revenue of 1.33 billion CNY, a 32.3% decline [3] Pig Farming Segment - Total pig output for 2024 was 6.4046 million heads, a 5.9% increase year-on-year [4] - Average profit per head was 175 CNY, with some regions exceeding 300 CNY [4] - The total cost of pig farming was below 14 CNY/kg [4] Seed Industry Segment - In 2024, total sales of corn, rice, and soybean seeds reached 53.5264 million kg [5] - Corn seed sales were 36.3039 million kg, down 9%, generating revenue of 820 million CNY [5] - Soybean seed sales increased by 102%, achieving revenue of 22 million CNY [5] Group 3: Q1 2025 Performance - In Q1 2025, the company reported revenue of 6.865 billion CNY, a 2.4% increase year-on-year [7] - The net profit for Q1 2025 was 134 million CNY, a 164.13% increase [7] - Pig farming output for Q1 2025 was 1.8399 million heads, a 26.7% increase [7] Group 4: Future Technology and Research Initiatives - The company is advancing synthetic biology research, focusing on high-efficiency genetic transformation and gene editing [10] - The establishment of the Agricultural Synthetic Biology Innovation Center aims to develop key technologies in agricultural biotechnology [12] - The center will support the development of new products such as feed proteins and green fertilizers [12] Group 5: Cost Management and Efficiency - The company has implemented measures to reduce costs in pig farming, achieving a complete cost of 12.9 CNY/kg [8] - Strategies include breed improvement, enhanced biosecurity, and optimized nutrition [14] - The company aims to further reduce costs through continuous improvements in various operational aspects [14] Group 6: Market Position and Growth Strategy - The company targets a feed production capacity of 10 million tons, focusing on differentiated product offerings [18] - The market share for seed traits is expected to increase, supported by favorable government policies [17] - The company plans to enhance collaboration across business segments to explore new growth opportunities [19]