Cost Management - The sales cost of the company's commercial pigs in October is approximately 13.26 CNY/kg, with a target to reduce it to 12.5 CNY/kg next year [2] - The cost of raising weaned piglets (7 kg) is around 300 CNY/head, with a goal to lower it to below 270 CNY/head next year [2] - The sales cost for the company's cooperative breeding business in October is 12.91 CNY/kg, with a current inventory of 25,000 heads [2] Business Strategy - The company aims to reduce costs through improved capacity utilization, lowering disease incidence, adjusting assessment methods, and trialing a contracting responsibility system [2] - The cooperative breeding business is primarily distributed in Guangdong, Fujian, and Anhui provinces [3] - The company is transitioning from a heavy asset model to a light asset model, focusing on cooperative breeding and exploring new product lines such as pet food and new feed types [4] Feed Business Performance - The feed business is profitable, with a target sales volume of 1.1 million tons for the year, which the company is striving to exceed [3] - The feed production capacity utilization rate is approximately 50% [3] - A new subsidiary has been established in Xinjiang to expand the ruminant feed market, expected to increase feed revenue next year [3] Future Developments - The company established Shenzhen Xingwei Intelligent Robot Co., Ltd. in October 2025, focusing on robot research, production, and sales [4] - The company is exploring new production capabilities and has implemented a stock incentive plan to align employee interests with company goals [4] - Future plans and performance forecasts are not commitments to investors, and caution is advised regarding investment risks [4]