Muyuan Foods' net profit attributable to shareholders last year was 15.487 billion yuan, a year-on-year decrease of 13.39%.

On the evening of March 27, listed pork producer Muyuan Co., Ltd. (002714.SZ) released its 2025 annual report.

In 2025, Muyuan Co., Ltd. recorded operating revenue of RMB 144.145 billion, up 4.49% year over year. Net profit attributable to shareholders of the listed company was RMB 15.487 billion, down 13.39% year over year. Net profit attributable to shareholders of the listed company after deducting non-recurring gains and losses was RMB 15.988 billion, down 14.71% year over year. Basic earnings per share were RMB 2.88, down 12.73% year over year.

From a quarterly perspective, in 2025, the net profit attributable to the parent company was RMB 4.491 billion in the first quarter, RMB 6.039 billion in the second quarter, RMB 4.249 billion in the third quarter, and RMB 0.708 billion in the fourth quarter.

In 2025, Muyuan Co., Ltd. sold 77.981 million head of live market pigs, slaughtered 28.663 million head of hogs, and sold 32.3 million tons of pork products such as fresh and frozen goods. The slaughtering and meat-processing business generated operating revenue of RMB 45.228 billion, up 86.32% year over year, and for the first time achieved full-year profitability in 2025.

Muyuan Co., Ltd. said that last year’s full cost of hog breeding was about RMB 12 per kilogram, down about RMB 2 per kilogram compared with the same period last year. By the end of 2025, total liabilities decreased by RMB 17.1 billion from the beginning of the year, and the asset-liability ratio decreased by 4.53 percentage points from the beginning of the year.

Muyuan Co., Ltd. said it plans to distribute a cash dividend of RMB 4.27 per 10 shares to all shareholders (including tax), with a total dividend amount of RMB 2.435 billion.

In addition, Muyuan Co., Ltd. stated that, overall, because the year-to-year changes in the components of operating costs differ, in recent years the combined cost of major raw materials such as wheat, corn, and soybean meal has accounted for approximately 55%-65% of operating costs. Therefore, fluctuations in the prices of the aforementioned bulk agricultural products will have a significant impact on the company’s main operating costs and net profit. Cyclical fluctuations in the market price of market pigs have caused the hog breeding industry’s gross margin to exhibit cyclical fluctuations, and the company’s gross margin also shows a fluctuation trend basically consistent with the industry.

Peng Yanqiu, reporter for The Paper

A massive amount of information and precise interpretation—available on Sina Finance APP