DONGRUI GROUP(001201)2025-05-13 09:56Group 1: Company Performance and Production Capacity - The company has established a production capacity of 2 million pigs and aims to achieve full production by 2026, targeting a sales goal of 2 million pigs [3] - In April 2024, the company sold 60,100 piglets, a month-on-month increase of 101.41%, with a gross profit of approximately 100 CNY per piglet [4] - The company’s total assets and revenue have been continuously growing since its listing in 2021, with the number of pigs sold increasing from 367,600 to 874,400, a growth of 130% [8] Group 2: Financial Performance - In 2024, the company achieved an operating income of 1.52 billion CNY, a year-on-year increase of 46.58%, while the net profit attributable to shareholders was -65.65 million CNY, significantly reducing losses [10] - The company’s complete cost for fattening pigs in April 2024 was 14.8 CNY per kilogram, with a target of 14.5 CNY per kilogram for this year and 14 CNY per kilogram for next year [5][16] Group 3: Market Strategy and Expansion - The company’s domestic market revenue accounted for 65.65% in 2024, with plans to build sales networks in key consumer areas like Shenzhen and Dongguan through partnerships with local supermarkets and e-commerce platforms [4] - The company has a goal to expand its production capacity by an additional 1 million pigs over the next five years, aiming for a total production scale of over 3 million pigs [5] Group 4: Industry Trends and Challenges - The overall pig farming industry in China is expected to see a reasonable adjustment in production capacity, with increasing scale and standardization [18] - The company is focusing on the Guangdong-Hong Kong-Macao Greater Bay Area market, maintaining a significant market share in Hong Kong, which accounted for 20% of the mainland supply with a quota of 224,800 pigs in 2024 [18] Group 5: Disease Control and Investment - The company invested 134 million CNY in veterinary drugs, vaccines, and disinfectants for disease control in 2024, emphasizing the importance of biosecurity measures [9]