DONGRUI GROUP(SZ:001201)2025-01-20 14:42Group 1: 2024 Performance Overview - The company sold 874,400 pigs in 2024, a year-on-year increase of 40.03% [5] - Of the total, 550,400 were sold as commercial pigs, accounting for 62.94% of total sales [5] - The sales revenue from pigs reached 1.448 billion yuan, up 47.22% from the previous year [5] - The average selling price of commercial pigs was 18.16 yuan/kg, an increase of 6.06% year-on-year [5] - The company expects a loss of 58 to 72 million yuan in 2024, a reduction in loss by 86% to 89% compared to the previous year [5] Group 2: Cost Management and Projections for 2025 - The target for total cost in 2025 is 15 yuan/kg, down from 16.67 yuan/kg in 2024 [7] - Cost reduction channels include: - Increased output leading to lower depreciation costs by approximately 0.8 yuan/kg [7] - Improved breeding performance reducing costs by about 0.5 yuan/kg [7] - Enhanced production efficiency lowering costs by around 0.4 yuan/kg [7] - The company plans to supply 310,000 pigs to Hong Kong in 2025, with 250,000 from its own quota [8] Group 3: Production Capacity and Future Plans - The planned output for 2025 is between 1.5 million and 1.6 million pigs, with approximately 80% expected to be meat pigs [9] - As of December, the company had 76,000 breeding sows, with expectations to reach full production of 95,000 sows in the first half of 2025 [10] - The PSY (Pigs per Sow per Year) improved from 22 to 25 in 2024, while the cost of weaned piglets decreased from 400 yuan to 280 yuan per head [11]