Tecon Ag & Livestock(02419.HK) annual net profit falls 54.64% to 1.433 billion yuan

Gelonghui March 20 | Dekang Agriculture and Animal Husbandry (02419.HK) announced annual results. For 2025, the group’s operating revenue was RMB 23.159 billion, a year-on-year increase of 3.09%; net profit attributable to shareholders was RMB 1.433 billion, a decrease of 54.64% year-on-year; basic earnings per share were RMB 3.69.

During the reporting period, the pig farming segment remained the group’s primary source of revenue and profit, accounting for 81.2% of total revenue, serving as the core engine for performance growth; annual revenue from pig farming was RMB 18.807 billion, up 2.9% year-on-year; annual pig sales reached 10,827.98 thousand heads, a 23.3% increase; the average selling price of commercial pigs was RMB 13.74/kg, down 17.7% year-on-year, mainly due to the ongoing downturn in the pig market. However, the company defied the trend by leveraging lean management, effective conversion of breeding results, and a light-asset operating model to achieve significant cost reductions.

During the reporting period, the total cost of pig farming continued to optimize, with per-head profit and profitability efficiency remaining industry-leading. Coupled with stable cash flow support, the company’s ability to withstand cycles has continued to strengthen.

During the reporting period, the group’s poultry segment achieved revenue of RMB 2,929.96 million, a decrease of 10.6% year-on-year; sales volume reached 88,136.9 thousand birds, roughly flat compared to the previous year; the average selling price was RMB 13.66/kg, down 12.2% year-on-year, mainly due to industry supply-demand imbalance and low product prices.

During the reporting period, revenue from auxiliary products was RMB 1.422 billion, an increase of 55.25%, mainly driven by growth in slaughtering business. In 2025, slaughter volume reached 844 thousand heads, a year-on-year increase of 93%.