华英农业(002321) - 2024年6月12日投资者关系活动记录表

Group 1: Company Overview and Current Performance - Huaying Agriculture achieved total revenue of CNY 3.705 billion in 2023, a year-on-year increase of 27.83% [2] - Export business revenue reached CNY 863 million, growing by 13.85% [2] - The company reported a net profit of CNY 31.837 million, a reduction in losses by 94.67% compared to the previous year [2] - The gross profit margin for frozen duck products turned positive, while cooked food products saw a margin increase of 4.58 percentage points to 22.84% [2] Group 2: Future Plans and Production Goals - In 2024, the company plans to hatch 32 million ducklings, slaughter 39 million commercial ducks, produce 115,000 tons of feed, achieve CNY 650 million in cooked food sales, and CNY 2.3 billion in down sales [3] - The company aims to strengthen its position in the duck meat industry and enhance its brand through a "farm-to-table" approach [6] Group 3: Market Insights and Industry Position - China's duck farming accounts for 74.2% of global production, while goose farming accounts for 93.2% [4] - The domestic market for down products is expected to grow due to low penetration rates compared to developed countries [4] - The down processing market in China is valued at approximately CNY 45 billion [3] Group 4: Financial Metrics and Profitability - The net profit margin for the down products segment was around 6% in 2023, with direct materials accounting for 98.17% of costs [5] - The cooked food segment's net profit margin exceeds 10% [6] - Export sales accounted for approximately 62% of the cooked food segment's revenue, primarily to Japan, South Korea, and the EU [7] Group 5: Strategic Initiatives and Risk Management - The company is focusing on enhancing internal management and marketing reforms to improve operational efficiency [2] - Huaying Agriculture has established a research and development team to innovate and meet diverse consumer needs [8] - The company is actively monitoring exchange rate fluctuations and has signed forward foreign exchange agreements to mitigate risks [8]