LONGDA(002726)2024-11-01 07:41Financial Performance - Revenue for the first three quarters of 2024 was 8.014 billion yuan, a decrease of 20.70% year-on-year [1] - Net profit attributable to the parent company for the first three quarters was 73.041 million yuan, an increase of 111.26% year-on-year [1] - Revenue for the third quarter was 2.97 billion yuan, a decrease of 12.12% year-on-year [1] - Net profit attributable to the parent company for the third quarter was 14.8884 million yuan, an increase of 161.61% year-on-year [1] Business Segments Farming Segment - The farming segment achieved profitability in the first three quarters with an output of 247,600 heads, a decrease year-on-year [1] - The average selling price of pigs increased, and feed costs were controlled, leading to reduced farming costs [1] Slaughtering Segment - Slaughtering volume in the first three quarters was 3.6008 million heads, a decrease year-on-year due to weak terminal demand and controlled frozen product inventory [2] - The company adjusted channel structure and increased high-margin products, leading to improved gross profit [2] Food Segment - Food segment revenue in the first three quarters was 1.707 billion yuan, accounting for over 20% of the company's main business revenue [3] - Pre-made food revenue in the first three quarters was 1.509 billion yuan, with a gross profit margin of 11.61%, an increase of 4.5% year-on-year [3] - Pre-made food revenue in the third quarter was 536 million yuan, a 34.61% increase quarter-on-quarter [3] Product and Channel Development - The company focused on product differentiation and new product development, with significant growth in products like light braised pork intestines and sausages [3] - The company continued to develop new products such as fresh meat sausages and upgraded products like braised beef and pork trotters [3] - The company implemented a "solidify old, open new" strategy, expanding from pork to beef and increasing the supply of semi-finished and finished products [3] - The company focused on developing the Western fast-food channel, with some clients already placing orders in the third quarter [3] Marketing and Sales - The company built a stable, long-term cooperation model with core influencers, with core influencers accounting for 70% of live-streaming sales [3] - The company successfully launched two monthly million-yuan products in the third quarter: braised beef and light braised pork intestines [3] - The company continued to promote private domain customers, with sales steadily increasing [3] - The company focused on channel sinking and expanding into lower-tier markets, deepening channel potential [3] Future Plans and Strategies - The company will continue to focus on the food segment, increase high-margin products, and optimize internal management to further reduce costs [3] - The company plans to continue expanding its business and market scale through industrial extension and integration [4] - The company aims to increase the proportion of semi-finished and finished products in its pre-made food segment, with current proportions being 30-40% for raw materials, 40-45% for semi-finished products, and 10-15% for finished products [4] - The company expects some pressure on pig prices in the first quarter of next year due to increased supply [4] - The company plans to promote the conversion of convertible bonds and will take active measures to maintain stock price if necessary [4]