温氏股份(300498) - 2025年3月14日投资者关系活动记录表

Group 1: Production and Sales Performance - In February, the company sold 2.6 million pigs, including 2.51 million live pigs and fresh products, and 90,000 piglets [1] - The company sold 82 million meat chickens in February, with a slight decrease in sales volume due to fewer actual sales days [1] - The pig farming listing rate reached 93%-94% in February, indicating stable production management [2] Group 2: Cost Management and Profitability - The comprehensive cost of pig farming dropped to approximately 6.3 CNY/kg in February, with a narrowing cost difference among regional units [2] - Despite a decline in pig prices, the average selling price of pigs remained higher than that of competitors, maintaining a leading profit level in the industry [2] Group 3: Poultry Business Insights - In February, the chicken farming listing rate was 95.2%, with the total cost of live chickens decreasing to 5.6 CNY/kg [4] - The company anticipates a 5% or more increase in chicken sales volume in 2025, despite facing short-term losses [4] Group 4: Financial Health and Debt Management - The company's asset-liability ratio decreased to 51%-52% in February, indicating a strong financial position [5] - The company plans to balance debt reduction with cash dividend needs to ensure long-term operational stability [5] Group 5: Future Planning and Market Strategy - The company aims for long-term stable and high-quality development, focusing on cost reduction and profitability as primary considerations for business growth [7] - Fixed asset investment for 2025 is planned at around 5 billion CNY, targeting construction and upgrades of pig farms, chicken farms, and slaughterhouses [14]