LIHUA(300761)2024-08-02 10:21Financial Performance - In the first half of 2024, the company achieved operating revenue of 7.805 billion CNY, marking a turnaround with a net profit attributable to shareholders of 575 million CNY, a year-on-year increase of 12.16% and 197.13% respectively [1] - The company sold 235 million meat chickens, a year-on-year increase of 10.69%; sold 434,900 meat pigs, up 18.83%; and sold 960,500 geese, up 12.92% [1] - The slaughter volume of meat chickens reached 24.8189 million, reflecting a growth of 234.32% [1] Cost Structure - The complete cost of raising yellow feathered chickens in the first half of the year was 6.1 CNY per kilogram, a decrease of 13.48% compared to the same period last year; the cost in the second quarter was 5.9 CNY per kilogram [2] - The complete cost for the pig farming segment was approximately 17.6 CNY per kilogram in the first quarter, returning to normal at 14.8 CNY per kilogram in the second quarter [2] Market Outlook - The company anticipates stronger consumption of yellow feathered chickens in the second half of the year due to seasonal demand, with upcoming events like school celebrations and the Mid-Autumn Festival expected to boost sales [2] - The proportion of medium-speed chickens has increased to over 40%, while the proportion of fast-growing chickens has decreased to below 20%, indicating a shift towards higher quality products [2] Production Capacity - As of the end of June, the company had established a production capacity of approximately 1.8 million meat pigs, with a breeding sow inventory of 80,000 [2] - The company expects to exceed 800,000 meat pig sales in the second half of the year, with an annual target of over 1.2 million [2]