New stock news | Muyuan Foods (002714.SZ) passed the hearing of the Hong Kong Stock Exchange, and its annual output of slaughtered pigs has been ranked number one globally for four consecutive years.

According to the disclosure of the Hong Kong Stock Exchange on January 16th, Muyuan Foods Co., Ltd. (referred to as Muyuan Foods (002714.SZ)) held a listing hearing on the main board of the Hong Kong Stock Exchange, with Morgan Stanley, CITIC SEC, and Goldman Sachs as joint sponsors. The prospectus shows that Muyuan Foods is a leader in the pig farming industry, and its vertically integrated business model covers the entire pig industry chain, including pig breeding, pig farming, feed production, and slaughtering. According to Frost & Sullivan statistics, starting from 2021, based on pig production capacity and output, the company is the world's largest pig farming enterprise, with pig output ranking first in the world for four consecutive years. Based on pig output, the company's global market share increased from 2.6% in 2021 to 5.6% in 2024, surpassing the combined market share of the second to fourth market participants by 2024. While continuing to solidify its leading position in pig farming, Muyuan Foods entered the pig slaughtering and meat business in 2019 to strengthen the company's advantage in operating the entire industry chain. According to Frost & Sullivan statistics, in terms of slaughter volume, the company's slaughtering and meat business ranked fifth globally and first in China in 2024. In terms of revenue, the compound annual growth rate of the company's slaughter and meat business from 2021 to 2024 ranked first among large Chinese industry peers. From 2014 to 2024, the company's total revenue compound annual growth rate reached 48.7%, ranking first in revenue growth among the top ten pig meat food listed companies globally based on output. Thanks to the company's leading technology and cost management capabilities, the company's profitability is strong. During the same period, the company's net profit compound annual growth rate reached 72.7%, with an average annual net profit margin of 19.0%. It is worth noting that based on output, the company is the only one among the top ten pig meat food listed companies globally that had an average annual net profit margin higher than 15.0% from 2014 to 2024. The EBITDA compound annual growth rate of the company from 2014 to 2024 reached 60.2%, with an average EBITDA profit margin of 30.8%, outperforming other large listed companies in the Chinese pig farming industry. The main operating indicators of the company's main products are as follows: According to Frost & Sullivan statistics, global pork consumption remains stable, increasing from 952 million tons in 2020 to 1,153 million tons in 2024, with a compound annual growth rate of 4.9%. As the world's largest pork consumer country, China's per capita consumption of major meats was 69.4 kilograms per person in 2024 as per Frost & Sullivan statistics, compared to the United States' 102.0 kilograms per person, indicating significant growth opportunities. In addition, the proportion of fresh pork consumption in China's total pork consumption is still relatively low compared to developed countries overseas, indicating huge market potential. In terms of finances, in the fiscal years 2022, 2023, 2024, and the nine months ending September 30, 2025, Muyuan Foods' revenues were approximately RMB 124.826 billion, RMB 110.861 billion, RMB 137.947 billion, RMB 96.775 billion, and RMB 111.79 billion, respectively; during the same period, the net profits were approximately RMB 14.933 billion, -RMB 4.168 billion, RMB 18.925 billion, RMB 11.246 billion, and RMB 15.112 billion, respectively.