LIHUA(300761)2025-05-07 12:06Group 1: 2024 Annual Performance - The company sold 516 million meat chickens, a year-on-year increase of 12.95% [2] - The company sold 1.298 million pigs, a year-on-year increase of 51.8% [2] - The total revenue reached 17.725 billion yuan, with a net profit attributable to shareholders of 1.521 billion yuan, marking a significant turnaround from losses [2] Group 2: Q1 2025 Performance - In Q1 2025, the company sold 123 million meat chickens, a year-on-year increase of 8.69% [3] - The company sold 483,700 pigs, a year-on-year increase of 150.49% [3] - The net profit attributable to shareholders was 206 million yuan, a year-on-year increase of 157.47% [3] Group 3: Future Plans and Growth Strategies - The company aims for an annual growth target of 8%-10% in meat chicken output [4] - The target for pig output in 2025 is 2 million heads, with a cost of 6.4 yuan per kilogram [4] - The company plans to enhance its processing capacity, expecting to slaughter 100 million meat chickens in 2025 [5] Group 4: Cost Management and Industry Position - Current breeding costs are 6.50 yuan per kilogram for pigs and below 5.5 yuan for meat chickens [9] - The company emphasizes cost control as a key focus for maintaining profitability [10] - The company has 7,593 cooperative farmers, with 7,109 in the meat chicken business and 384 in the pig farming business [11] Group 5: Research and Development - R&D expenses for 2024 reached 140 million yuan, an increase of 60 million yuan from 2023, focusing on breeding and technology [15] - The company is committed to enhancing its core competitiveness through continuous R&D investment [15]