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CICC: In October, pig prices continued to decline, while the number of animals slaughtered continued to increase slowly.
From October to mid-November, the pig price continues to decline, but the decline is slow and resilient, mainly due to the small increase in supply and the low acceptance of low prices by the breeding side.
Huafu Securities: Pig prices are expected to rebound in the peak season at the end of the year, and the high profits in Q4 are expected to continue.
The increase in output in October compared to the previous month and the same period last year is significant.
Muyuan Foods (002714.SZ): Terminates joint venture with Muyuan Industrial Group to establish a financial company.
On November 26, 2023, Muyuan Foods (002714.SZ) announced that at the 31st meeting of the fourth board of directors held on November 26, 2024, a decision was made to approve the motion to terminate the establishment of a joint venture with Muyuan Industrial Group Co., Ltd. to set up a finance company, with a vote result of 3 in favor, 0 against, and 0 abstentions. The company's decision to terminate the establishment of the finance company in partnership with Muyuan Group was made after sufficient communication and careful analysis among the relevant parties. Currently, all production and operation activities of the company are proceeding normally, and the above matter has not yet been specifically implemented, with no actual investment incurred, and will not impact the company's finances.
Muyuan Foods (002714.SZ): Intends to change the use of part of the raised funds.
On November 26, Gelonghui reported that Muyuan Foods (002714.SZ) announced that as of November 22, 2024, the company has remaining raised funds of 564.0815 million yuan (including interest income) for the following hog farming construction projects: 0.18 million heads in Youjiang, 0.15 million heads in Hongtong, 0.145 million heads in Zhecheng, 0.2 million heads in Haizhou, 0.1 million heads in Leanan, 0.36 million heads in Kangping, and 0.2 million heads in Hongze. The unused balance of issuance costs and interest income amounts to 1.
Muyuan foods (002714.SZ): As of the end of 2023, the company has built rooftop distributed photovoltaic power generation facilities at 41 breeding farms, with a cumulative installed capacity of 207.9 MW.
On November 25, Glonghui reported that Muyuan Foods (002714.SZ) stated in an investor interaction platform that the company fully utilizes its large number of pig houses and factory rooftops in hog farming and animal slaughter businesses to build distributed photovoltaic power generation facilities. This meets the needs of various sites (factories), with excess electricity fed into the grid, reducing electricity costs during the hog farming and animal slaughter processes, lowering production costs, and improving the company's operational performance. At the same time, the development and utilization of green energy is underway to optimize the energy structure, achieve low-carbon production, and promote sustainable development. By the end of 2023, the company had constructed rooftop distributed photovoltaic power generation facilities at 41 farming sites, with a cumulative installed capacity of 20.
huaan: It is expected that the enthusiasm for restocking will remain weak in Q4 2024, while pig prices in 2025 will receive strong support.
At the end of the third quarter, the average debt-to-asset ratio of listed pig companies remained high at 61.5%, and winter is a peak period for outbreaks in the north. As of now, pork prices are also lower than in Q3, and it is expected that the enthusiasm for restocking in Q4 will be weaker than in Q3, with restocking enthusiasm continuing to be sluggish.
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