牧原股份实现扭亏 2024年预盈超180亿元

Company Performance - The company expects a net profit of 18 billion to 19 billion yuan for 2024, a significant turnaround from the previous year's loss [1] - The company sold 71,602,000 pigs in 2024, including 65,477,000 commercial pigs, 5,659,000 piglets, and 465,000 breeding pigs, achieving its annual target [1] - The company's pig sales revenue reached 136,225 billion yuan in 2024, showing growth compared to the previous year [1] - In December 2024, the company sold 8,578,000 pigs, including 8,188,000 commercial pigs, 360,000 piglets, and 31,000 breeding pigs, driven by increased demand before the Spring Festival [1] Cost Management - The company's pig farming cost decreased to approximately 13 yuan/kg in December 2024, down from 15.8 yuan/kg at the beginning of the year, reaching the lowest level in recent years [2] - The company's sales price in 2024 was around 16.3 yuan/kg, a 12.7% year-on-year increase, significantly higher than the farming cost, contributing to the company's strong performance [2] - The company aims to reduce the overall pig farming cost to 12 yuan/kg by 2025, excluding fluctuations in feed raw material prices [2] - The company has achieved half of its cost reduction target of 600 yuan per pig, with one-third of the reduction realized after accounting for feed price impacts [2] Production Efficiency - The company's PSY (Pigs per Sow per Year) exceeded 29 in November 2024, with a survival rate close to 86%, daily weight gain of over 800 grams, and a feed-to-meat ratio of around 2.8, indicating improved production efficiency [3] - The company's operating cash flow reached 29.18 billion yuan in the third quarter of 2024, the highest since its listing, reflecting strong financial health [3] - The company distributed 4.5 billion yuan in dividends for the first three quarters of 2024, representing 40.06% of its net profit for the period [3]