Recently, a number of listed companies in the A-share pig breeding sector disclosed their sales data in March, and with the gradual release of production capacity, the sales volume and price of pigs of many companies have risen.
Source: Photo.com
The March sales briefing of the leading pig enterprises disclosed that many indicators rose month-on-month
Muyuan Food Co., Ltd. (stock abbreviation: Muyuan shares; stock code: 002714. SZ) is mainly engaged in pig breeding and sales, pig slaughtering, and its main products are commercial pigs, piglets, breeding pigs, white strips, segmented products and other pork products.
In March 2024, Muyuan Co., Ltd. sold 5.471 million live pigs (including 4.937 million commercial pigs, 475,000 piglets, and 59,000 breeding pigs), and achieved sales revenue of 9.075 billion yuan. Among them, a total of 855,000 live pigs were sold to its wholly-owned subsidiary, Muyuan Meat Food Co., Ltd. and its subsidiaries. In March, the average sales price of the company's commercial pigs was 14.24 yuan/kg, an increase of 2.89% from January to February 2024.
From January to March 2024, Muyuan Co., Ltd. sold a total of 16.011 million live pigs (including 15.307 million commercial pigs, 597,000 piglets, and 107,000 breeding pigs), with a cumulative sales revenue of 25.710 billion yuan. As of the end of March 2024, the company's breeding sow herd was 3.142 million.
In terms of production capacity, the company's current pig breeding capacity is 80 million heads/year, which can meet the production and operation needs of this year. As of the end of June 2023, Muyuan Co., Ltd. has established 25 slaughtering subsidiaries in Henan, Shandong, Anhui, Northeast China and other regions with concentrated pig breeding capacity, and has put into operation 10 slaughterhouses, with a total production capacity of 29 million heads/year.
Wen's Food Group Co., Ltd. (stock abbreviation: Wen's shares; stock code: 300498. SZ) pig breeding and pig breeding scale ranks among the top in the country. In 2022, the company will sell 17,908,600 pigs (including hairy pigs and fresh products), accounting for 2.56% of the 699 million pigs slaughtered in the country, ranking second among listed companies in the same industry.
In March 2024, Wen's shares sold 2.6205 million pigs (including hairy pigs and fresh products), with an income of 4.727 billion yuan, and the average sales price of hairy pigs was 14.73 yuan/kg, with month-on-month changes of 36.34%, 41.61%, and 3.08%, respectively, and year-on-year changes of 26.42%, 26.02%, and -3.09%, respectively. In March 2024, the company's pig sales and revenue increased month-on-month, mainly due to the fact that February coincided with the Spring Festival consumption into the off-season and the number of sales days was small, and the number of pigs slaughtered was small.
As of the end of February, the number of sows that Wen's shares can reproduce is about 1.55 million, and the company initially plans to increase the number of sows that can reproduce by the end of 2024 by 5-100,000 on the basis of the stock at the end of 2023.
At present, the company has a total of 4 pig slaughtering projects have been put into operation, with a total annual slaughtering capacity of about 4 million heads. In addition, the company has 3 pig slaughtering projects under construction, with a total annual slaughtering capacity of about 3 million heads.
New Hope Liuhe Co., Ltd. (stock abbreviation: New Hope; stock code: 000876. SZ) main business includes feed, white feather meat and poultry, pig breeding, and food. The company has been vigorously developing the pig business since 2016. From 2019 to 2020, the company increased pig investment, and pig production capacity and pig slaughter grew rapidly. After entering 2021, the company's pig business has entered a stage of stable operation. In 2022, the number of live pigs slaughtered will reach 14.62 million, ranking third in the country.
In March 2024, New Hope sold 1.5255 million live pigs, a month-on-month change of 16.56%, sales revenue was 2.304 billion yuan, a month-on-month change of 25.49%, and the average sales price of commercial pigs was 14.34 yuan/kg, a month-on-month change of 3.46%.
The number of slaughters increased, and the sales volume of many pig enterprises increased year-on-year and month-on-month in March
In addition to the above-mentioned companies, the sales data of many companies in the A-share pig breeding sector in March were good.
Tang Renshen (002567. SZ) to develop three major industries: feed, pig breeding and meat products. In March 2024, the company's live pig sales volume was 346,800 heads, including 289,000 commercial pigs and 57,800 piglets, and the sales volume of live pigs in March increased by 30.38% compared with 266,000 heads in the same period last year and 27.50% month-on-month, and the total sales revenue was 519 million yuan, up 20.27% year-on-year and 29.82% month-on-month. The year-on-year and month-on-month growth of live pig sales in March was mainly due to the gradual release of pig production capacity and the increase in slaughter.
Further, from January to March 2024, Tangrenshen sold 947,000 live pigs, including 829,800 commercial pigs and 117,200 piglets, an increase of 20.78% year-on-year, and a cumulative sales revenue of 1.333 billion yuan, an increase of 7.77% year-on-year.
Tiankang Biotechnology (002100.HK) SZ) has formed a whole industrial chain structure for animal vaccines, feed and feed raw materials, pig breeding, pig breeding, slaughtering and processing, meat product sales, and breeding service system construction. In March 2024, the company sold 259,200 live pigs, with a month-on-month increase of 66.15% and a year-on-year increase of 22.61%, and a sales revenue of 432 million yuan, a month-on-month increase of 77.05% and a year-on-year increase of 11.92%. In March 2024, the average sales price of commercial pigs (after deducting piglets and breeding pigs) was 13.72 yuan/kg, an increase of 3.39% month-on-month.
From January to March 2024, the company sold a total of 647,200 live pigs, an increase of 13.66% over the same period last year, and a cumulative sales revenue of 1.015 billion yuan, an increase of 5.95% over the same period last year. The company's sales volume and revenue in March increased month-on-month and year-on-year, mainly due to the release of production capacity after some new breeding bases were put into operation, and the number of pigs slaughtered increased significantly.
Dabeinong(002385. SZ) holding and joint-stock companies sold a total of 490,300 live pigs in March, with a cumulative total of 1.452 million heads from January to March 2024, and a total sales revenue of 760 million yuan in the month and 2.169 billion yuan from January to March 2024. The average price of commercial fat pigs of the company's holding and shareholding companies was 14.41 yuan/kg in the month. In February, the company's live pig sales volume was 326,700 heads, sales revenue was 485 million yuan, and the average price of the month was 13.84 yuan/kg. The month-on-month increase in the number of live pig sales and income in March was mainly due to the gradual release of production capacity.
Shennong Group (605296. SH) main business includes feed processing, pig breeding, pig slaughtering, deep processing of meat products, etc. In March 2024, the company sold 170,800 live pigs (163,200 commercial pigs), with a sales revenue of 284 million yuan. Among them, 33,300 live pigs were sold to slaughtering enterprises within the group. In March 2024, the company's commercial pig prices showed an upward trend, with the average sales price of commercial pigs being 14.01 yuan/kg, an increase of 7.44% over February 2024.
From January to March 2024, Shennong Group sold a total of 496,900 live pigs (including 479,700 commercial pigs), with a sales revenue of 809 million yuan. Among them, 76,600 pigs were sold to slaughtering enterprises within the group. As of the end of February, the company has about 100,000 sows, including 85,000 sows, and with the completion and production of pig farms under construction within the year, it is expected that the sow herd will reach 130,000 by the end of 2024. The company's slaughter target is 2.5 million heads in 2024 and 3.5 million heads in 2025, and it will adhere to the asset-light development model in the future, and gradually expand the proportion of "company + family farm" surrogate care, which is expected to reach 70% to 80% in the future.
Yisheng shares (002458. SZ) sold 627 breeding pigs in March 2024, with a sales revenue of 1.92 million yuan, a year-on-year change of 120% and 51.19%, and a month-on-month change of 895.24% and 988.44%, respectively. The company's sales volume and sales revenue of breeding pigs in March increased significantly year-on-year, and the production capacity of main breeding pigs was gradually released. Due to the expansion demand of the company's breeding farms, the company's breeding pigs were mostly used for self-rearing in February 2024, resulting in a significant increase in the number of breeding pigs sold and sales revenue in March 2024 month-on-month.
In addition, Lihua shares (300761. SZ) sold 78,600 pigs in March 2024, with a sales revenue of 139 million yuan, and an average sales price of 15.06 yuan/kg, with month-on-month changes of 121.41%, 131.67%, and 2.59%, respectively, and year-on-year changes of -5.76%, 19.83%, and 0.67%, respectively. The sales volume and sales revenue of pork pigs increased month-on-month, mainly due to the increase in the company's pig slaughter.
Jin Xinnong(002548. SZ) sold 121,700 live pigs in March 2024 (including 67,700 commercial pigs, 47,900 piglets, and 6,000 breeding pigs), with a sales revenue of 155,097,600 yuan and an average sales price of 14.77 yuan/kg. In February 2024, the company's live pig sales volume was 77,700 heads, sales revenue was 89.5785 million yuan, and the average sales price of commercial pigs was 14.08 yuan/kg.