China’s poultry industry_2025 outlook_ Supply pressure persists, but low costs may fuel an earnings improvement
21世纪新健康研究院·2024-12-10 02:48
6 December 2024 Equity Research Report China's poultry industry Equities Agricultural Products 2025 outlook: Supply pressure persists, but low costs may fuel an earnings improvement ◆ 9M24 chicken meat supply growth beats our estimates; we expect supply pressure to persist in 2025 ◆ Lower breeding costs due to falling raw material prices should improve breeding profitability in 2025 ◆ Maintain Buy on Sunner, TP to RMB19.40 (from RMB21.50), and Wellhope, TP to RMB9.10 (from RMB8.30) Recent share price rally ...