HAID GROUP(002311)2025-01-17 01:10Group 1: Company Overview - The company focuses on the feed industry, achieving a feed sales volume of approximately 26.5 million tons in 2024, a year-on-year increase of about 9% [1] - The net profit attributable to shareholders for 2024 is projected to be between 4.25 billion and 4.8 billion CNY, representing a year-on-year growth of 55.04% to 75.10% [1] Group 2: Market Trends - The prices of livestock feed have decreased due to the decline in prices of major energy and plant protein raw materials [2] - The company’s overseas feed sales continued to grow in Q4 2024, following the trend of the previous three quarters [3] Group 3: Future Plans - The company plans to expand its operations in Southeast Asia, focusing on Vietnam and extending to Indonesia, Bangladesh, and Malaysia [4] - In Africa, the company aims to use Egypt as a base to expand into North and East Africa [4] - The company is exploring a light-asset, low-risk, and stable pig farming model, with a clearer strategy emerging [6] Group 4: Cost Management and Production - The company has made significant progress in reducing pig farming costs through the establishment of its own breeding system and leveraging feed research and scale advantages [5] - The company is controlling the scale of fish farming while continuously enhancing its professional capabilities [7] Group 5: Capital Expenditure - Future capital expenditures will focus on overseas capacity construction and expansion, while domestic investments will prioritize upgrading and renovating existing capacities [8]