Core Viewpoint - The 9th China (Shenzhen) Corporate Governance Summit highlighted the theme "Governance as a Foundation, Market Value Renewal," focusing on strong regulation, risk prevention, and promoting high-quality development, with 京基智农 recognized for its innovative green governance practices [1] Group 1: Corporate Governance and Recognition - 京基智农 was awarded the "2025 Bay Area Listed Companies Green Governance Top 20" for its innovative practices in green governance, alongside notable companies like 招商蛇口, 比亚迪, and 汇川技术 [1] - The company has established a modern pig farming industry chain, achieving an annual output of over 2 million pigs, contributing significantly to the food supply in the Guangdong-Hong Kong-Macao Greater Bay Area [1] Group 2: Environmental Initiatives - In 2024, 京基智农's total environmental investment reached 108 million yuan, implementing low-carbon production processes that resulted in a greenhouse gas reduction of 39,941.54 tons of CO₂e [2] - The company has adopted technologies such as dry manure cleaning and high-temperature aerobic fermentation, converting 100% of livestock waste into organic fertilizer, with wastewater fully reused for irrigation [2] - 京基智农 has developed a green chain for processing pineapple waste, producing fermented feed that improves pig weight gain by 5% to 10% and reduces feed costs by over 10 yuan per ton, saving more than 10 million yuan annually [2] Group 3: Social Responsibility - 京基智农 promotes a "company + farmer" model, establishing over 12 service departments in the Guangxi and Guangdong regions to support farmers in pig farming, thereby increasing their income [3] - The company has engaged in charitable activities, including the establishment of four "京基智农 Love Libraries" in the western Guangdong region and funding rural infrastructure and cultural activities to improve living conditions [3] - The recognition as one of the "2025 Bay Area Listed Companies Green Governance Top 20" reflects the industry's acknowledgment of 京基智农's green governance practices and the feasibility of green transformation in agriculture [3]

Core Insights - The company reported a revenue of 2.387 billion yuan and a net profit of 226 million yuan for the first half of 2025, with a basic earnings per share of 0.43 yuan [1] - The livestock business remains the core pillar, generating 1.925 billion yuan in revenue, a year-on-year increase of 11.13%, and accounting for 80.67% of total revenue [1] - The company announced a profit distribution plan, proposing a cash dividend of 3.80 yuan per 10 shares, totaling 197 million yuan, reflecting strong shareholder return commitment and confidence in future growth [1] Revenue and Profitability - The company sold 1.0621 million pigs in the first half of 2025, with sales revenue of 1.895 billion yuan, marking a year-on-year increase of 11.65% [1] - The gross margin for the livestock business was 19.84%, up 3.72% year-on-year, indicating strong profitability [1] Market Position and Pricing - The average selling price of commodity pigs exceeded 15 yuan/kg in the first half of the year, significantly higher than the industry average, with July's average price reaching 15.66 yuan/kg [2] - The company's strong market performance is attributed to its deep market penetration in the Greater Bay Area and established industry chain advantages [2] Operational Strategy - The company is actively promoting a light asset operation strategy, expanding its "company + farmer" model and establishing over 12 service departments in the Guangdong region [3] - The cooperative model has led to a high survival rate of 98% among excellent farmers, enhancing breeding efficiency and optimizing capital structure [3] Innovation and Sustainability - The company invested 23.9365 million yuan in R&D, achieving 30 utility model patents, 21 software copyrights, and 3 invention patents [4] - A collaboration with the Guangdong Academy of Agricultural Sciences has led to the development of a bio-fermentation technology that converts pineapple processing waste into high-quality feed, achieving 100% resource utilization [4] - The use of fermented pineapple waste has improved pig weight gain by 5% to 10% and reduced feed costs by over 10 yuan per ton, contributing to cost savings of over 10 million yuan annually [4] Strategic Expansion - The company is exploring new business avenues, including collaborations in the fashion and art sectors, enhancing its long-term growth potential [4]