Zhai Weibing, deputy general manager and secretary of the board of directors of Jinxinong, said at the analyst meeting held on February 20 that the company will focus on expanding the feed business in the future, on the one hand, by cooperating with relevant parties to establish a holding platform joint venture to expand the business scale to increase the company's operating income, on the other hand, it will strengthen team incentives and increase the proportion of performance income.
It revealed that it is thanks to the business development of the platform company and the adjustment of the marketing incentive mechanism that Jinxinong's feed sales in January 2024 have achieved a year-on-year increase
It is understood that in 2023, the company will achieve feed export contract10,000 tons, a year-on-year increase of 17%, and the profit per ton remained at about 110 yuan. However, dragged down by the decline in profits in the pig business, it is expected to lose 3 percent overall in 202395-5.8.5 billion yuan (profit of about 0200 million yuan).
Jin Xinnong has contracted the pig business last year - the annual pig slaughter volume fell by 16 percent year-on-year67% to 104690,000 heads; Pig sales revenue decreased by 31 percent year-on-year95% to 123.8 billion yuan.
According to Zhai Weibing, the company's current breeding sow herd is basically maintained10,000 headsLeft and right, the gilt herd is about 150,000 heads, with a capacity of 100,000 sows in the overall sow barn.
For the next two years, Zhai Weibing said that the company is not in a hurry to pursue the growth of the number of slaughters, but emphasizes more high-quality development, such as the simultaneous improvement of operating income, cost control and profitability, and at the same time adjusts the slaughter according to market conditions.
It also said that the company's commercial pig breeding costs continued to decline in each quarter of 2023, of which the cost in December was 1643 yuan kg. Jinxinong's annual goal for 2024 is to reduce the cost of breeding to:Meta/kg
In terms of specific production indicators, the company's 2023 commercial pig stage (nursery + fattening) will have a full survival rate of about 93%, a breeding and farrowing rate of about 88%, and a PSY of 255 or so. "The follow-up goal of the survival rate and the breeding and farrowing rate is to increase by another 1-2 percentage points, and PSY by another 05-1 head. Zhai Weibing said.
* The meeting also revealed that the controlling shareholder of Jin Xinong - Guangdong-Hong Kong-Macao Greater Bay Area Industry and Finance Investment has been optimistic and firmly supports the company's long-term development in the future.
Guangdong-Hong Kong-Macao Greater Bay Area Industry and Finance Investment*** is a comprehensive investment platform initiated by the Guangdong Federation of Industry and Commerce (General Chamber of Commerce) and the Guangdong Provincial Federation of Commerce, and jointly funded by nearly 50 high-quality listed companies and private leading enterprises at home and abroad, with a registered capital of 40 billion yuan.
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