HK Stock Market Move | DEKON AGR (02419) Profit expected to exceed 8% of high open enthusiasm, with an estimated profit of approximately 3.3 billion yuan before the fair value adjustment of biological assets acquisition for the year.

DEKON AGR (02419) surged more than 8% at the opening, rising 8.36% to 31.1 Hong Kong dollars as of the time of this report, with a trading volume of 587,800 Hong Kong dollars. On the news front, DEKON AGR announced that the group expects to achieve a profit of approximately RMB 3.1 billion to RMB 3.3 billion before fair value adjustments of biological assets for the year ending December 31, 2024, while in the year ending December 31, 2023, it incurred a loss of approximately RMB 1.279 billion before fair value adjustments of biological assets. The announcement stated that the expected turnaround from loss to profit is mainly attributed to the year-on-year increase in the selling price of live pigs, as well as the continuous improvement in the company's management efficiency, production indicators, and the impact of decreasing feed and feedstock prices, resulting in a significant year-on-year decrease in production costs.