Core Viewpoint - Wens Foodstuff Group has shown steady growth and improved core production indicators in its Q3 2025 report, focusing on high-quality development and innovation to enhance its brand and contribute to the livestock industry's quality growth [1][2]. Financial Performance - For the first three quarters of 2025, the company achieved a revenue of 75.788 billion yuan and a net profit attributable to shareholders of 5.256 billion yuan. In Q3 alone, revenue was 25.937 billion yuan with a net profit of 1.781 billion yuan [2]. - Cumulatively, the company sold 27.67 million pigs and 945 million chickens during the first three quarters [2]. - The asset-liability ratio decreased to 49.4% by the end of Q3, indicating reduced financial risk [2]. Historical Growth - Since its listing on November 2, 2015, Wens Foodstuff Group has seen significant growth, with revenue increasing from 48.2 billion yuan in 2015 to 104.9 billion yuan in 2024, and total assets rising from 32.7 billion yuan to 93.9 billion yuan [3]. - The company has distributed a total of 30.11 billion yuan in cash dividends since its listing, benefiting numerous partner farmers [3]. Digital Transformation - Wens Foodstuff Group signed a strategic cooperation agreement with Huawei to enhance digital transformation in the livestock industry, focusing on building a digital foundation for smart farming [4][5]. - The company has been investing in digitalization and automation since 1990, with recent efforts including the development of an internal AI model platform to improve operational efficiency [4][6]. Strategic Focus - The company aims to transition from scale growth to quality enhancement, aspiring to be a leader in the livestock industry characterized by growth, technology, and sustainability [7]. - Wens Foodstuff Group is actively responding to national policies on pig production capacity and is also exploring international markets, particularly in chicken production, while gradually expanding into pig and duck markets [7].

Core Viewpoint - Wens Foodstuff Group (温氏股份) has shown steady growth and improvement in core production indicators, focusing on high-quality development and innovation to enhance its brand and contribute to the livestock industry's quality advancement [1][2]. Financial Performance - For the first three quarters of 2025, Wens achieved a revenue of 75.788 billion yuan and a net profit of 5.256 billion yuan, with Q3 revenues at 25.937 billion yuan and net profit at 1.781 billion yuan [2]. - Cumulatively, the company sold 27.67 million pigs and 945 million chickens during the first three quarters [2]. - The asset-liability ratio decreased to 49.4% by the end of Q3, indicating improved financial safety and risk resistance [2]. - The company distributed a cash dividend of 3 yuan per 10 shares, totaling 1.99 billion yuan, which is 38% of the net profit for the first three quarters [2]. Historical Growth - Since its listing in November 2015, Wens has seen significant growth, with revenue increasing from 48.2 billion yuan in 2015 to 104.9 billion yuan in 2024, and total assets rising from 32.7 billion yuan to 93.9 billion yuan [3]. - The company has achieved a cumulative net profit of 47.4 billion yuan and a total cash dividend of 30.11 billion yuan since its IPO [3]. Digital Transformation - Wens has signed a strategic cooperation agreement with Huawei to enhance digital transformation in the livestock industry, focusing on building a digital foundation for smart farming [4][5]. - The company has been advancing its industrialization, automation, and smart technology since 1990, with recent efforts in AI applications showing promising results [4]. - The collaboration with Huawei aims to improve operational efficiency and resource allocation through joint innovation in IT and biotechnology [5]. Market Strategy - Wens is committed to high-quality growth and is transitioning from scale growth to quality enhancement, aiming to become a responsible and high-quality enterprise in the livestock sector [6]. - The company is actively responding to national policies on pig production capacity and is working to eliminate inefficient capacity while improving production performance [6]. - Wens is also expanding into international markets, with plans to prioritize the export of chicken products and gradually introduce pig and duck farming to overseas markets [6].

● 本报记者 武卫红 日前，温氏股份公布2025年第三季度报告。报告期内，公司持续稳健发展，核心生产指标改善。2015年 11月2日，温氏股份登陆创业板。上市10年以来，温氏股份持续跨越发展，穿越行业周期。 黎少松表示，自成立以来，温氏股份坚持以"自信、诚信、稳健"为底色，深耕农牧食品"永续"赛道，坚 守高质量发展初心。上市以来，公司实现了营收超千亿、总资产近千亿的"双千亿"跨越，资产实力持续 增强，养殖主业规模领先。 数据还显示，上市以来，温氏股份累计实现净利润474亿元，现金分红总额累计为301.1亿元。同时，公 司带动万千农户共享产业红利。2015年至2025年9月底，公司合计支付给合作农户养殖费用超961亿元。 推进数智化转型升级 今年11月1日，温氏股份与华为技术有限公司正式签署战略合作框架协议。根据协议，双方将携手打造 智慧养殖的数字化底座，积极推动技术创新与转型升级，共同探索养殖行业数字化转型之路。 早在1990年，温氏股份就开启信息化探索之路。近年来，温氏股份持续提升工业化、智能化和自动化水 平，积极推动技术创新与转型升级。2021年，温氏股份开始与华为合作，全面启动数字化转型，打造全 方位的 ...

Core Insights - In October 2025, the company reported sales of 128.33 million chickens, generating revenue of 3.633 billion yuan, with an average selling price of 13.33 yuan per kilogram [1] - The sales of live pigs reached 3.8928 million heads, with a revenue of 5.048 billion yuan and an average selling price of 11.57 yuan per kilogram [1] Sales Performance - Chicken sales in October 2025 included 12.833 million units, with a month-on-month increase of 4.66% in sales volume and 4.91% in revenue, while the average price decreased by 1.48% [1] - Year-on-year, chicken sales volume increased by 8.01%, revenue by 9.96%, and the average price remained unchanged [1] - For live pigs, the sales volume of 3.8928 million heads included 3.4483 million heads of live pigs and 444,500 heads of piglets, with a month-on-month increase of 17.07% in sales volume, while revenue increased by 1.47% [1] - Year-on-year, live pig sales volume increased by 45.69%, but revenue decreased by 13.15%, and the average price dropped by 34.41% [1]

Core Insights - The company reported sales of 128 million meat chickens in October 2025, generating revenue of 3.633 billion yuan, with an average selling price of 13.33 yuan per kilogram for live chickens [1] - Month-over-month changes in sales, revenue, and average price were 4.66%, 4.91%, and -1.48% respectively, while year-over-year changes were 8.01%, 9.96%, and 0.00% respectively [1] - The company sold 15.3874 million white feather chicken chicks in October, with a total of 139 million chicks sold for the year to date [1]

Core Insights - The company, Wens Foodstuff Group, reported its sales performance for August 2025, indicating a total sale of 116.7093 million meat chickens, which includes live chickens, fresh products, and cooked food [1] - The revenue generated from these sales amounted to 2.956 billion yuan, with an average selling price of 12.15 yuan per kilogram for live chickens [1] - The month-on-month changes in sales volume, revenue, and average selling price were 5.20%, 27.63%, and 22.85% respectively, while year-on-year changes were 7.40%, -0.71%, and -8.02% [1] Sales Performance - Total meat chicken sales reached 116.7093 million units in August 2025 [1] - Revenue from meat chicken sales was 2.956 billion yuan [1] - Average selling price for live chickens was 12.15 yuan per kilogram [1] Month-on-Month Changes - Sales volume increased by 5.20% [1] - Revenue increased by 27.63% [1] - Average selling price increased by 22.85% [1] Year-on-Year Changes - Sales volume increased by 7.40% [1] - Revenue decreased by 0.71% [1] - Average selling price decreased by 8.02% [1]

Core Viewpoint - The company reported significant sales figures for August, indicating a strong performance in the poultry market despite some year-on-year declines in certain categories [1] Sales Performance - The company sold 116.7 million chickens in August, which includes live chickens, fresh products, and cooked food [1] - The total revenue generated from these sales was 2.956 billion yuan [1] - The average selling price of live chickens was 12.15 yuan per kilogram [1] Month-on-Month Changes - The sales volume increased by 5.20% compared to the previous month [1] - Revenue saw a month-on-month increase of 27.63% [1] - The average selling price of live chickens rose by 22.85% month-on-month [1] Year-on-Year Changes - Year-on-year sales volume increased by 7.40% [1] - Revenue experienced a slight decline of 0.71% compared to the same period last year [1] - The average selling price of live chickens decreased by 8.02% year-on-year [1]