Muyuan Foods (002714) H2 2024 earnings summary

Executive summary

• Achieved revenue of ¥137.95 billion in 2024, up 24.43% year-over-year, with net profit of ¥18.93 billion, a 554.07% increase from 2023.

• Sold 71.6 million pigs and slaughtered 12.52 million, with meat product sales of 1.42 million tons.

• Maintained high-quality growth, improved cost management, and invested in technology and green energy.

Financial highlights

• Revenue: ¥137.95 billion (+24.43% YoY); net profit: ¥18.93 billion (+554.07% YoY).

• Operating cash flow: ¥37.54 billion (+279.50% YoY); basic EPS: ¥3.30 (vs. -¥0.79 in 2023).

• Gross margin for breeding: 19.21%; for slaughter/meat: 1.03%.

• Total assets: ¥187.65 billion; net assets: ¥72.03 billion.

Outlook and guidance

• 2025 pig sales target: 72–78 million commercial pigs, 8–12 million piglets.

• Focus on cost reduction, efficiency, and further expansion of slaughter/meat business.

• Continued investment in R&D, digitalization, and green energy.