财联社记者注意到，生猪养殖行情向好或为公司业绩增长的重要因素，公司在今年上半年便已出栏肥猪约270万头，在生猪养殖业务上实现同比扭亏为盈。进入第三季度，高行情得到延续，据Choice数据监测显示，三季度生猪价格较二季度明显进一步上升，其中8月份甚至创下超20元/KG的高点。1. With the improvement of the hog market and the low prices of commodity raw materials, Guangdong Haid Group's net income in the first three quarters increased by more than 60% year-on-year; 2. The company announced on the same day that it plans to use idle own funds not exceeding 10 billion yuan for entrusted wealth management.
Financial Association News on October 18th (Reporter Liu Jian Wang Ping'an) Against the backdrop of this year's rising hog market, Guangdong Haid Group (002311.SZ) saw its net income increase by more than 60% in the first three quarters. In addition, the company also announced today that it plans to use idle own funds not exceeding 10 billion yuan for entrusted wealth management.
Tonight, Guangdong Haid Group released the report for the first three quarters of 2024. The company achieved revenue of 84.861 billion yuan in the first three quarters, a year-on-year decrease of 2.38%; net income attributable to shareholders of the listed company was 3.624 billion yuan, an increase of 60.95% year-on-year; basic earnings per share were 2.18 yuan. Among them, revenue in the third quarter reached 32.565 billion yuan, a decrease of 4.75% year-on-year; net income attributable to shareholders of the listed company was 1.499 billion yuan, an increase of 30.17% year-on-year.
Financial Association News journalists noted that the positive trend in hog farming may be an important factor in the company's performance growth. The company had already slaughtered approximately 2.7 million hogs in the first half of this year, turning losses into profits in the hog farming business year-on-year. As the third quarter began, the high market continued, with Choice data monitoring showing a significant increase in hog prices in the third quarter compared to the second quarter, with August even reaching a peak of over 20 yuan/KG.
(Price Trend Chart of Hogs from January to September Source: Choice)
In addition, in the first half of this year, the low prices of bulk raw materials such as corn, soybean meal, and fish meal continued into the third quarter, providing support for the company's profitable fodder business. Taking soybean meal as an example, it has now dropped to nearly a three-year low point, fluctuating around 3000 yuan/ton. According to Guangdong Haid Group's previous half-year report, the company's fodder gross margin in the first half of the year increased by 0.87 percentage points compared to the same period last year.
However, while the company's net income grew, the revenue continued the trend of year-on-year decline in the first half of this year. The company had previously indicated in the semi-annual report that the main reason for the revenue decline in the first half of the year was the drop in prices of bulk raw materials for fodder products, leading to a follow-up decrease in fodder product unit prices and a slight decline in operating income.
According to the China Feed Industry Association, in the first three quarters of 2024, the ex-factory prices of major compound feed, concentrated feed, and additive premix feed products in the national industrial feed industry have all shown a year-on-year downward trend.
It is worth noting that on the same day, the company announced that it plans to use idle self-owned funds not exceeding 10 billion yuan for entrusted wealth management, investing in low-risk products with high security and good liquidity.
The announcement points out that due to the impact of the downstream aquaculture industry, the company's aquafeed operation exhibits significant seasonal characteristics. Therefore, there are seasonal fluctuations in the company's raw material procurement, product sales, resulting in temporary idle funds during operations. In order to improve the efficiency of fund utilization and increase entrusted wealth management income without affecting the normal operation of the company and its subsidiaries, idle self-owned funds will be timely utilized for entrusted wealth management to provide more returns for the company and shareholders.
In response, related industry insiders in the feed industry told Caijing Media reporters, 'The feed industry is a cost-plus (pricing) industry, making money per ton of feed is not particularly high, but the feed industry actually has good cash flow.'
According to the financial report of Guangdong Haid Group, the net cash flow generated from operating activities in the first three quarters of the company was 7.814 billion yuan, a year-on-year decrease of 15.97%; the trading financial assets at the end of the period increased by 66.72% compared to the beginning of the period, mainly due to the increase in idle fund management; investment income was 0.175 billion yuan.
