LIHUA(SZ:300761)2022-12-03 10:10Group 1: Financial Performance and Projections - The company expects a 5%-10% increase in the output of yellow-feathered chickens in 2019 [4] - The cost of yellow-feathered chickens is approximately 5.3 RMB per jin, with feed being the main component of the cost [3] - The company anticipates a certain growth in yellow-feathered chicken prices in Q2 compared to Q1 due to multiple influencing factors [2] Group 2: Business Strategy and Operations - The company employs a "company + cooperative + farmer" model for yellow-feathered chicken and meat goose farming, providing comprehensive support to farmers [4] - The pig farming segment is expected to increase its relative weight in the future, despite yellow-feathered chickens currently accounting for over 90% of total sales [3] - The company is cautious about capacity expansion, considering regional development conditions and consumer demand [3] Group 3: Market Dynamics and Competitiveness - Chicken meat has a certain degree of substitutability for pork, with differences in consumer demand among various chicken types [3] - The company is primarily focused on live chicken sales, with slaughtering volumes currently being low, but plans to extend its industry chain into slaughtering and food processing [5] - The company has established an ERP control system to optimize business processes and manage risks, alongside developing an IoT and big data analysis platform for automated and intelligent farming [5]