Guangdong Haid Group (002311) Q4 2023 earnings summary

Executive summary

• Feed business achieved double-digit growth with sales volume up 13% year-over-year, reaching approximately 24.4 million tons, and market share increased.

• Total revenue for 2023 was ¥116.14 billion, up 10.91% year-over-year, driven by strong feed sales.

• Net profit attributable to shareholders was ¥2.79 billion, down 5.43% year-over-year, mainly due to losses in the farming segment.

Financial highlights

• Operating income rose 10.91% year-over-year to ¥116.14 billion.

• Operating profit decreased 8.14% year-over-year to ¥3.59 billion.

• Net profit attributable to shareholders fell 5.43% year-over-year to ¥2.79 billion.

• Basic EPS was ¥1.69, down 5.59% year-over-year.

• Weighted average ROE was 14.74%, down 3.72 percentage points year-over-year.

Outlook and guidance

• Focus remains on strengthening the core feed business and upgrading related products, services, and solutions.

• Strategic emphasis on value creation for customers and continued overseas market expansion.