According to the Zhitong Finance App, Dekang Agriculture and Animal Husbandry (02419) announced the results for the year ended December 31, 2023. The group obtained revenue of RMB 16.155 billion (same unit), an increase of 7.44% over the previous year; losses attributable to the company's equity shareholders amounted to RMB 1,775 million, compared with profit of RMB 993 million for the same period last year; loss per share.

In 2023, the company's loss before the fair value of biological assets was 1,279 million yuan, while in 2022 it was a profit of 605 million yuan before the fair value adjustment of biological assets, mainly due to the sharp drop in pig prices in 2023, the average selling price fell 19.4% from the same period in 2022, and the average selling price of commercial chicken fell about 10% compared to 2022.

However, the company strives to minimize losses by implementing cost reduction and efficiency measures (such as using advanced breeding technology and facilities) and putting more breeding pigs with better production performance into production, thereby reducing feed costs for each commercial pig; striving to improve production efficiency and capacity utilization. This is also in line with related industry trends, that is, large-scale pig breeding companies gain more market share; and strives to enhance brand awareness and reputation through marketing strategies.

During the reporting period, the company obtained a total net loss of 1.992 billion yuan after adjustment for the fair value of biological assets, and a total net profit of 910 million yuan after adjusting the fair value of biological assets in 2022.