京基智农(000048) - 京基智农调研活动信息

Group 1: Company Performance and Financials - The company's pig farming costs have steadily decreased, with the complete cost dropping to 14.1 CNY/kg as of May 2024, while pig prices have significantly rebounded since April [3] - As of May 2024, the company has approximately 100,000 breeding sows and 16,000 replacement sows [3] - The company's real estate projects have a total unsold value of approximately 1.6 billion CNY, which is expected to improve cash flow [4] Group 2: Market Conditions and Strategic Responses - The company is actively responding to the recent decline in stock prices by announcing a share repurchase plan, which is currently being processed [2] - The real estate market in Shenzhen has shown signs of recovery since the introduction of the "517" policy, leading to an acceleration in the sales of the company's real estate projects [3] - The company has a well-established risk assessment system for environmental factors, particularly concerning recent heavy rains, and has implemented emergency plans to prevent disease outbreaks [3] Group 3: Shareholder and Debt Management - The controlling shareholder, Jingji Group, has a high pledge ratio of shares, primarily for financing needs, but there is no risk of forced liquidation as the pledges are secured by banks [4] - As of the end of Q1 2024, Jingji Group's consolidated debt-to-asset ratio stands at 64.9%, which is below the industry average [4]