Shennong Group(SH:605296)2024-10-29 09:55Financial Performance - In the first nine months of 2024, the company achieved a total revenue of 4.078 billion yuan, representing a year-on-year growth of 42.11% [2] - The net profit attributable to shareholders reached 480 million yuan, with a significant increase of 321.20% compared to the previous year [2] - The net cash flow from operating activities was 845 million yuan, showing a remarkable growth of 3,577.88% year-on-year [2] - In Q3 2024, the company reported a revenue of 1.583 billion yuan, up 36.32% year-on-year, and a net profit of 356 million yuan, which is a 662.97% increase [2] Cost Structure - The average complete cost from January to September was 14 yuan per kilogram, with the cost in September being 13.4 yuan per kilogram [2][4] - The feed-to-meat ratio was recorded at 2.49, and the weaning cost was approximately 300 yuan per head [2] Production Capacity and Goals - As of the end of September, the company had a breeding sow capacity of 122,000 heads, with 114,000 sows available for breeding [3] - The target for this year's output is set at 2.2 to 2.3 million heads, while the goal for next year is 3.2 to 3.5 million heads [3] Strategic Initiatives - The PIC® Guizhou Genetic Core Farm project was officially launched in October 2024, in collaboration with PIC® China and other partners [3] - The project aims to provide high-quality breeding pigs with advanced breeding technology and a global high-performance gene pool [3] Stock Repurchase Plans - The company is considering a stock repurchase based on confidence in its future stable development and recognition of its value, alongside the need for employee equity incentive plans [4] Cost Control Targets - The cost control target for the breeding business in 2025 is set to be below 13 yuan per kilogram [4]