HAID GROUP(SZ:002311)2025-05-26 00:58Group 1: Company Overview - The company focuses on the feed industry, expanding both domestically and internationally, with local factories established in Vietnam, Indonesia, Ecuador, and Egypt [2] - In Q1 2025, the company achieved a feed sales volume of approximately 5.95 million tons, representing a year-on-year growth of about 25% [2][3] - The total increase in feed sales volume has surpassed 2 million tons year-on-year [3] Group 2: International Market Performance - In 2024, the company's overseas feed sales volume was approximately 2.4 million tons, accounting for 10% of the group's total external sales [4] - Vietnam is the largest market for the company's feed sales, followed by Indonesia, with sales also occurring in Ecuador and Egypt [4] - The gross profit margin for overseas feed business is higher than that of domestic operations due to differences in product structure and market competition [6] Group 3: Competitive Advantages and Strategies - The company has developed a multi-dimensional competitive advantage in overseas markets, transitioning from a single product focus to an integrated supply chain approach [7] - The company plans to match high-quality seedlings and animal health products with customer needs in overseas markets [8] - The company has invested significantly in research and development to manage procurement risks through futures hedging and raw material trading [10] Group 4: Financial Outlook and Shareholder Returns - The company plans to distribute a cash dividend of 1.8 billion yuan in 2024, with future distributions based on actual operating conditions [10] - Future capital expenditure will focus on enhancing overseas production capacity and upgrading existing domestic facilities to improve efficiency [10]