Gelonghui, January 29丨Baiyang Co., Ltd. (002696.SZ) announced its 2023 annual results forecast. Net profit loss attributable to shareholders of listed companies during the reporting period was 20 million yuan to 30 million yuan, profit of 62.3388 million yuan for the same period last year; net profit loss after deducting non-recurring profit and loss of 30 million yuan to 40 million yuan, profit for the same period last year; basic earnings loss of 0.06 yuan/share per share - 0.09 yuan/share.

In terms of feed business: In 2023, due to factors such as heavy rain in spring, low temperature, and low fish prices due to weak terminal demand, farmers' willingness to farm decreased, and the amount of seedlings and feed were significantly reduced. Total demand for aquatic feed declined significantly, industry competition intensified, and the company's feed product prices and sales declined. Coupled with the impact of rising prices of some animal protein feed ingredients and rising processing costs per ton, the company's gross profit margin for the feed business has narrowed, causing the overall operating situation of the feed business to fall short of expectations.

In terms of aquatic food export business: Since 2023, overseas terminal consumer demand has weakened, leading to a year-on-year decline in the export price of tilapia products. Thanks to the management's efforts, the company's tilapia export volume increased slightly year-on-year, and its market share increased slightly. However, due to the large drop in order prices, the company's tilapia export revenue and gross profit declined, so the operation of the tilapia export business fell short of expectations throughout the year.