KINGSINO(SZ:002548)2023-06-14 13:10Group 1: Company Operations - The overall business performance is gradually improving, with the breeding business aiming for full production capacity [2] - The average cost of self-bred pigs is approximately 18.27 CNY/kg, with top-performing farms achieving 15.8 CNY/kg [2] - The current stock of breeding sows is around 73,000 heads, including reserves [3] Group 2: Production Capacity and Sales - The distribution of breeding capacity is as follows: East China approximately 45%, South China approximately 30%, Northeast China approximately 20%, and Central China approximately 5% [3] - The planned output for this year is 1.3 to 1.4 million pigs, with a target of 2 million pigs in 2024, subject to market conditions [3] - The sales price for 9 kg piglets is 528.5 CNY/head, with sales conducted through a bidding platform [3] Group 3: Feed Business Performance - Feed sales increased by approximately 22% from January to May [4] - The sales model consists of 60% direct sales and 40% through distributors, with direct sales being predominant in the southern region [4] - The target for feed sales growth in 2023 is 30%, primarily driven by market expansion and strengthening the marketing team [4] Group 4: Financial Management and Investments - The company is managing raised funds through a dedicated account, currently in normal use [3] - An additional 80 million CNY will be allocated for the operation of the breeding project in Guangzhou after capital increase [3] - The controlling shareholder is providing a loan of 200 million CNY to ensure stable cash flow [3]