KINGSINO(SZ:002548)2025-04-20 06:26Group 1: Company Overview and Financial Performance - In 2024, the company achieved total assets of CNY 5.41 billion, a decrease of 9.58% from the beginning of the year [3] - Total liabilities were CNY 3.81 billion, down 14.08% year-on-year [3] - Owner's equity reached CNY 1.60 billion, with a growth of 2.28% compared to the beginning of the year [3] - The asset-liability ratio at the end of 2024 was 70.37%, a decrease of 3.7 percentage points [3] - The company reported operating revenue of CNY 4.56 billion, a year-on-year increase of 12.91% [3] - Net profit attributable to shareholders was CNY 30.16 million, marking a turnaround from loss to profit [3] Group 2: Business Segments Performance - Feed business maintained profitability with sales volume of 880,800 tons (excluding internal sales of 262,800 tons), a year-on-year increase of 29.51% [3] - Sales revenue from feed reached CNY 2.77 billion, up 6.54%, with a profit of CNY 65 million [3] - The company reduced costs in pig farming, achieving a slaughter volume of 1.20 million heads, a growth of 14.73% [3] - Revenue from pig farming was CNY 1.65 billion, a significant increase of 44.12%, with a profit of CNY 199 million [3] Group 3: Future Plans and Goals - For 2025, the company aims to achieve operating revenue of over CNY 5.5 billion, focusing on cost reduction and high-quality development [4] - The company plans to increase pig slaughter volume and external feed sales to drive revenue growth, targeting 110,000 to 130,000 heads for pig slaughter [4] - The target for the cost of commodity pigs in 2025 is set at CNY 13 per kilogram [4] - The company plans to reduce the asset-liability ratio to 69% in 2025 through operational cash inflows and depreciation exceeding CNY 300 million annually [5] - Capital expenditure for 2025 is budgeted at approximately CNY 50 million, primarily for environmental upgrades at pig farms [5] Group 4: Strategic Initiatives - The company aims to increase the direct sales ratio of feed to 70% [5] - Plans to further develop feed business and expand into Southwest and Northwest regions with additional products [5] - The company is focusing on enhancing operational efficiency and technological breakthroughs to create value for stakeholders [4]