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On October 15, Tang Renshen disclosed the performance forecast for the first three quarters of 2021
In the first three quarters of 2021, Tang Renshen expects a net profit loss attributable to shareholders of listed companies from 390 million yuan to 410 million yuan, a year-on-year decrease of 155.
In fact, Tang Renshen’s net profit attributable to shareholders of listed companies in the first half of 2021 was 175.
Regarding the main reason for the pre-loss performance in the first three quarters, Tang Renshen explained: "During the reporting period, the price of live pigs continued to fall, the cost of feed ingredients and other materials were high, the cost of pig breeding increased, and the profitability of the breeding business fell year-on-year; due to the continuous decline of live pig prices , The company has made provisions for falling prices of inventories in accordance with the Accounting Standards for Business Enterprises and the principle of prudence
The Beijing News Shell Finance reporter learned that in order to reduce the cost of breeding, Tang Renshen has adopted various measures, such as: carrying out a whole-process cost reduction project, reducing purchase prices, controlling consumption, and saving investment; strengthening staff training and improving staff production skills , Improve the health of pigs; improve the overall performance of sows, eliminate low-efficiency sows, and gradually replace them with high-performance Dan-line pig herds; expand the production capacity of pig breeding and increase the utilization rate of production capacity
On October 13, Tang Renshen issued a judgment on the trend of pig prices.
"When pork prices bottom out, it depends on the speed at which production capacity is cleared, and when pork supply changes from loose to tight.
Guo Shiliang believes: “Because of the rapid expansion and production expansion of farmers and pig enterprises in the past few years, the market supply is too sufficient, so it will take some time to restore the balance of supply and demand
