LIHUA(300761)2022-11-19 01:36Group 1: Business Growth and Future Plans - The company aims to maintain an annual growth rate of around 10% in the yellow feather chicken breeding sector [4] - The fresh poultry processing capacity is expected to account for approximately 50% of total output in the next five years [4] - By 2025, the company plans to achieve an annual output of around 3 million marketable pigs [4] Group 2: Financial Performance - In 2021, the company achieved a revenue of 11.132 billion yuan, representing a year-on-year growth of 29.12% [4] - The net profit attributable to shareholders was a loss of 396 million yuan, influenced by rising raw material costs and industry cyclicality [4] - Inventory impairment and credit impairment accounted for 120 million yuan of the losses [4] Group 3: Product and Market Strategy - The main products include yellow feather meat chickens, market pigs, and geese, with yellow feather chicken accounting for over 90% of revenue [4] - The company is actively expanding online and offline sales channels for yellow feather chicken, collaborating with major e-commerce platforms [4] Group 4: Cost Management Measures - The company is optimizing procurement strategies to manage rising raw material costs, including participating in government grain auctions [5] - It is evaluating unconventional feed materials to mitigate the impact of high corn prices [5] - Enhancements in farming techniques and automation are being implemented to further reduce production costs [5] Group 5: Unique Product Offerings - The "Snow Mountain" series is a unique breed of yellow feather chicken, known for its tender meat and rich flavor, produced through a semi-free-range farming model [6] - The company plans to replicate its successful business model in other regions to expand production scale [6]