NEW HOPE(SZ:000876)2023-05-12 02:20Group 1: Financial Performance Overview - In 2022, the company reported a net profit attributable to shareholders of -1.46 billion CNY, with the feed industry generating a profit of 1.36 billion CNY, while the pig industry incurred a loss of 2.46 billion CNY [4] - For Q1 2023, the net profit attributable to shareholders was -1.69 billion CNY, a year-on-year reduction in losses by 1.2 billion CNY, with the feed industry earning 270 million CNY [4] - The total expenses for Q1 2023 amounted to 640 million CNY, an increase of 280 million CNY year-on-year, primarily due to rising loan interest and other costs [5] Group 2: Business Segment Performance - In 2022, the pig industry sold 14.6 million heads, achieving the stock incentive assessment target, with costs decreasing from 18.8 CNY/kg at the beginning of the year to 16.7 CNY/kg by year-end [5] - In Q1 2023, the pig industry sold 4.715 million heads, a year-on-year increase of 28%, with a cost of 17.4 CNY/kg [5] - The poultry industry reported a net profit of 57 million CNY in Q1 2023, a 150% increase year-on-year, benefiting from rising chick and meat prices [6] Group 3: Investment and Strategic Initiatives - The company aims to achieve a production target of 1.85 million heads for the year, supported by measures such as increasing breeding stock and improving survival rates [7] - The company plans to exit 47 pig farms in 2023, expecting minimal losses of less than 100 million CNY [8] - The goal for the end of 2023 is to reach 1 million breeding sows, with a target of 1.3 to 1.5 million by 2024 [8] Group 4: Cost Management and Efficiency - The company is focusing on reducing costs, with a target to lower breeding costs to 16 CNY/kg by the end of the year [7] - In Q1 2023, the costs associated with breeding stock were approximately 4 CNY/kg, with feed costs at 9.4 CNY/kg [8] - The company aims to improve management of breeding stock to reduce costs further, targeting a reduction of 0.6 CNY/kg in breeding costs and 0.3-0.4 CNY/kg in feed costs [8]