Hyundai Animal Husbandry (01117) announced its annual results for the year ended December 31, 2023, with revenue of 134...
According to the Zhitong Finance App, Hyundai Animal Husbandry (01117) announced its annual results for the year ended December 31, 2023, with revenue of 13.458 billion yuan (RMB, same below), up 9.5% year on year; profit of 185 million yuan, a year-on-year decrease of 68.1%; profit per share of 2.23 points; proposed payment of a year-end dividend of 0.0045 yuan per share.
According to the announcement, the production of raw milk, the core business of the group, is developing steadily. During the year, the average annual yield and total milk yield per adult dairy cow both hit record highs, and herd size and raw milk sales revenue also increased markedly. As of December 31, 2023, the Group invested and operated a total of 42 ranching companies in mainland China, raising a total of 456,600 dairy cows, an increase of 11.2% year on year. The average annual output of each adult dairy cow reached 12.6 tons, up 3.3% year on year. It is expected that production will continue to grow; total sales of fresh milk reached 2.55 million tons during the year, up 9.4% year on year, and corresponding raw milk sales revenue reached RMB 10.264 billion, up 3.2% year on year.
The Group successfully acquired the digital platform company that loves raising cows last year, while also developing new businesses such as Liangyuan Technology, Modern Feed, Modern Grass Industry, and Mengyuan Breeding. Currently, the Group's business has expanded to new fields such as online trading platforms, forage, and selected cattle breeding in the industrial chain. The new business contributed 3.195 billion yuan in sales revenue to the Group during the year, an increase of 35.9% over the previous year. The new business not only brought new profit growth points to the Group, but also strengthened the vertical layout and security of the Group's industrial chain, and collaborated with the core business to create a moat for digital intelligence technology in the industry.