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Putian Food's Revenue Jumps 14% in 2024
China Putian Food Reports Profit Growth Amid Strategic Shifts
PUTIAN FOOD (01699.HK) had total revenue of 0.5 billion yuan in 2024, which represents an approximate year-on-year growth of 14%.
On December 31, Glonghui announced that PUTIAN FOOD (01699.HK) reported, based on the group's unaudited management accounts for 2024, that the total revenue for 2024 was approximately 0.5 billion RMB, an increase of about 14% compared to 0.439 billion RMB in 2023, and the earnings before interest, taxes, and amortization for 2024 (excluding the debts referred to in the statutory debt repayment demand issued by an indirectly affiliated company of Jianyin International Holdings Limited disclosed in the announcement dated May 25, 2023) amounted to 26.4 million RMB, compared to 20.47 million RMB recorded in 2023.
Pickling and curing have failed to reverse the decline: pig prices are not strong during the peak season. Will listed pig companies face a "test"?
Under the background of ample supply, the impact of processed meat on boosting pork prices is limited, as the average profit per pig in December has already shrunk by over a hundred yuan; industry insiders expect that next year's pork prices may be weaker than this year's, and related listed pig companies with lower costs are still guaranteed to make a profit, but companies with high costs may face certain risks of loss.
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