Source: pig Shibang
On the evening of April twenty _ sixthBingo, Muyuan shares (002714Bingo.SZ, with a share price of 44.44 yuan and a market capitalization of 242.88 billion yuan) issued the 2023 annual report and the first quarter report of 2024. In 2023, the company sold 63.816 million live pigs and slaughtered 13.26 million pigs, achieving an operating income of 110.861 billion yuan. The net profit belonging to the shareholders of the listed company was 4.263 billion yuan. The net cash flow generated by operating activities was 98.93 billion yuan, and the monetary fund was 19.429 billion yuan at the end of 2023.
From the cost point of view, the average complete cost of pig farming in 2023 is about 15 yuan / kg, which is 0.7 yuan / kg lower than that in 2022. In 2023, the capacity utilization rate of the slaughtering meat business increased to 46% from 25% in 2022, with a significant reduction in the level of head loss.
Muyuan shares said in the announcement that the main reason for the loss in 2023 was the sharp decline in pig prices compared with the same period last year, and the average pig sales price in 2023 was about 20% lower than that in 2022. In 2024, Muyuan is expected to produce 66 million to 72 million live pigs.
According to the first quarter report of 2024, from January to March this year, Muyuan shares achieved operating income of 26.272 billion yuan, and the net profit attributed to shareholders of listed companies was 2.379 billion yuan. The net cash flow generated by operating activities was 5.067 billion yuan, and the monetary fund at the end of the period was 23.024 billion yuan. A total of 16.011 million live pigs were sold, an increase of 15.6% over the same period last year.
Industry insiders pointed out that the current performance of Muyuan shares reflects the pressure faced by the entire pig industry. The aquaculture industry suffered heavy losses in 2023, which accelerated the elimination of production capacity, and pig prices are expected to rise in 2024 compared with the same period last year. At the same time, the cost-end feed price pressure has been alleviated, and it is expected that the profit level of the breeding industry will gradually pick up, and the breeding enterprises with high certainty and good cost control level may usher in the development opportunity during the year.
