Gelonghui, Feb. 26, 丨 China Shengmu (01432.HK) announced that for the year ended December 31, 2023, the Group is expected to record profit attributable to parent company owners between RMB 75 million and RMB 90 million (2022: RMB 416 million), a year-on-year decrease of about 78% to 82%; cash EBITDA ranges from RMB 960 million to RMB 1 billion (2022: RMB 937 million), a year-on-year increase of about 2.5% to 6.7%.
The announcement stated that although the Group is facing uncontrollable challenges in the industry and profits have temporarily declined, the Group has risen to the challenge, continuously strengthened its overall management capabilities, improved operational efficiency, and made the Group's core business development steady and resilient. During the reporting period, herd size and quality, yield, total milk production, and raw milk sales revenue all recorded encouraging increases. In particular, the yield of adult cows reached a record high in the company's history, with a year-on-year increase of about 8.2%.