According to research reports by China International Capital Corporation, Muyuan Foods (002714.SZ) is a representative of low-cost and large-scale pig farming leaders, and its scarcity is gradually showing. The company's assets and liabilities statement is expected to be rapidly repaired this year. The company's production management is rapidly optimized, and it is expected to achieve the target of 13 yuan/kg by the end of the year. If the company's production efficiency continues to improve, disease prevention and control and purification continue to be promoted, it is expected to further drive down costs. In addition, the production capacity of sows is steadily expanding, supporting an annual output of about 70 million heads. Overall, it is believed that the industry is returning from 'funding competition' to 'cost competition', and the strategic opportunities of capital dividends and epidemic prevention dividends accumulated during the non-epidemic period are marginally narrowing. As a representative of Muyuan Foods, the growth momentum is showing the scarcity of low-cost and large-scale leading enterprises. Maintain the 'outperform' rating and target price of 56 yuan.