MINHE(002234)2023-08-16 10:32Business Overview - The company's main businesses include breeding parent stock broilers, producing and selling commercial broiler chicks, raising and slaughtering commercial broilers, and producing and selling feed and chicken products [2] - The primary products are commercial broiler chicks and chicken products, with feed production mainly for internal use [2] - Subsidiary Minhe Food focuses on commercial broiler slaughtering and processing, producing frozen chicken products tailored to customer needs [2] Breeding and Production - The company currently breeds parent stock broilers mainly of AA and Ross varieties, with a small number of other breeds [3] - The company is constructing an 800,000-unit parent stock broiler breeding project, partially operational in 2023, with full capacity expected by 2024 [3] - A new hatchery in Linyi with an annual capacity of 100 million eggs is under construction, expected to be completed next year [3] Processed Food Operations - Two processed food factories were built in 2022, each with a designed capacity of 30,000 tons and four production lines [3] - Currently, each factory has two operational lines with a total capacity of 30,000 tons [3] - The processed food business combines traditional sales with e-commerce, with products sold on platforms like Douyin, Tmall, and WeChat Mall [3] E-commerce Operations - Subsidiary Hangzhou Minyuehe is responsible for online sales of processed food products through platforms like Douyin, Tmall, and Xiaohongshu [4] - The company employs various marketing strategies including self-operated accounts, influencer marketing, and collaborative videos to promote products [4] - The e-commerce business has maintained rapid growth in both pricing and sales volume for chicken products [4]