The China Postal Securities Research Reports indicate that Muyuan Foods (002714.SZ) will have a net income of 17.881 billion yuan in 2024, a year-on-year increase of 519.42%. The company's performance meets expectations, with a significant decline in costs and further optimization of its financial structure. The cost target for 2025 is 12 yuan/KG, which still leaves a substantial profit margin compared to the current pork prices. The company's costs remain in the top tier of the Industry, and it is expected that the average profit per head will reach 255 yuan in 2024. Although a downward trend in pig prices is confirmed for 2025, the company's cost advantages are notable and still have room to decrease further, so it is expected that the company can still achieve considerable profits in 2025. The company's EPS for 2025-2027 is expected to be 3.09 yuan, 3.96 yuan, and 5.79 yuan, with the current stock price corresponding to PEs of 12X, 10X, and 7X, respectively. The company's competitiveness is viewed positively, and the rating remains "Buy".