DONGRUI GROUP(SZ:001201)2025-07-14 13:58Group 1: Company Overview - The company is Dongrui Food Group Co., Ltd., with stock code 001201 [1] - The half-year performance forecast exchange meeting was held on July 14, 2025 [2][3] Group 2: Sales Performance - In the first half of 2025, the company sold 765,000 pigs, a year-on-year increase of 116.18% [5] - Sales revenue from pig sales reached 1.067 billion yuan, up 71.71% compared to the same period last year [5] - The average selling price of commodity pigs was 15.76 yuan/kg, a decrease of 6.50% year-on-year [5] Group 3: Profit Forecast - The company expects a profit of 2.6 million to 3.9 million yuan for the first half of 2025, representing a growth of 102.36% to 103.54% year-on-year [5] - The turnaround to profitability is attributed to improved production management, increased capacity utilization, and reduced breeding costs [5] Group 4: Cost Management - The target for the complete cost in the second half of 2025 is below 14 yuan/kg [7] - Cost reduction channels include increased output from capacity release, improved management efficiency, and differentiation between export and domestic breeding systems [7] Group 5: Breeding Costs - The complete cost for contracted breeding pigs is approximately 13.5 yuan/kg, while self-bred pigs cost about 14.5 yuan/kg [8] - The company anticipates further reductions in self-bred pig costs with improved capacity utilization [8] Group 6: Future Plans - The company aims to achieve an output of 100,000 pigs in the contracted breeding segment over the next three years, with 60,000 pigs expected this year [9] - The company plans to implement a shareholder dividend return plan once profitability is achieved, considering its current rapid development phase and significant capital expenditures [10] Group 7: Key Metrics - The recent PSY (Pigs per Sow per Year) is approximately 25, and the cost of weaned piglets is about 310 yuan per head [11]