Cofco Joycome Foods Limited · HKEX:1610
Cofco Joycome Foods — FY2024 Earnings Presentation
21 slides from Cofco Joycome Foods's earnings presentation, March 2025
Slide 1: 2024 Annual Results Presentation
2024 Annual Results Presentation March 2025
Slide 2: Disclaimer
Disclaimer By participating in the meeting covering this presentation, or by reading the materials related to this presentation, you agree to be bound by the following restrictions: • The information contained in this presentation was prepared by COFCO Joycome Foods Limited(the “Company”, together w
Slide 3: Content
Content Chapter 1 Business Overview Chapter 2 Financial Overview Chapter 3 Strategy and Outlook 2
Slide 4: 2024 Key Operating Metrics
2024 Key Operating Metrics Key Operating Metrics 2024 2023 Change Hog production volume (’000 heads) 3,560 5,200 -31.5% Average selling price of finishing hogs (RMB/kg) 16.53 14.55 13.6% Fresh pork sales volume (’000 tons) 262 245 7.1% Branded small-packed fresh pork sales volume 42,317 38,557 9.8%
Slide 5: 2024 Key Financial Metrics
2024 Key Financial Metrics Key Financial Metrics 2024 2023 Change Revenue (RMB MM) 16,326 17,238 -5.3% Profit/Loss for the period (before adj.) (RMB 275 152 up123 MM) Including: profit/loss attributable to the owners of the Company (before adj.) 259 177 up82 (RMB MM) Profit/Loss for the period (afte
Slide 6: Hog prices and supply-demand balance in China
The breeding sows has decreased . Market Still in a Tight Balance between Supply and Demand, with Hog Price Declining after its Record Highs Chinese Hog Prices（RMB/kg） 30 2022 2023 2024 25 20 15 10 w01 w05 w09 w13 w17 w21 w25 w29 w33 w37 w41 w45 w49 • At the beginning of 2024, with an abundant suppl
Slide 7: 2024 Business Highlights
2024 Business Highlights 1 Implement Multiple Measures to Vigorously Reduce Production Cost 2 Cultivate New Quality Productive Forces with Technology Empowerment 3 Firmly Build the Core Competitiveness of Feed by Synergy and Innovation 4 Expand Capacity and Continuously Optimize the Strategic Layout
Slide 8: Implement Multiple Measures to Vigorously Reduce Production Cost
Implement Multiple Measures to Vigorously Reduce 1 Production Cost Breeding Herd Rotation：Optimize the breeding herd structure and improve the quality of breeding stock, reaching 345 thousand breeding and replacement hogs in stock by the end of 2024, the highest level on record Upgrad ASF Prevention
Slide 9: Cultivate New Quality Productive Forces with Technology Empowerment
Cultivate New Quality Productive Forces with 2 Technology Empowerment Genome Breeding：Successfully establishe an integrated platform for genomic breeding and production. In Jilin, the region where genomic breeding was first applied, the production performance is obviously better than the other regio
Slide 10: Firmly Build the Core Competitiveness of Feed by Synergy and Innovation
Firmly Build the Core Competitiveness of Feed by 3 Synergy and Innovation • Dirven by internal synergy and market expansion, COFCO Feed was committed to a competitive strategy of quality product + good service and high efficiency + low cost: Innovation and R&D：Continuously optimize the R&D system an
Slide 11: Expand Capacity and Continuously Optimize the Strategic Layout
Expand Capacity and Continuously Optimize the 4 Strategic Layout Newly-built 330,000 heads hog production project Pig farming projects under construction in Changling, Jilin (already in operation) (Taonan & Changling, Jilin) Ø In 2024, we continued to promote the construction of hog production capac
Slide 12: Brand-Driven, the Influence and Sales Performance Rise Steadily
5 Brand-Driven, the Influence and Sales Performance Rise Steadily Deepen Linseed-fed pork Value, Fresh pork business 4.85billionRMB Strengthen Brand Business Core revenue +15.2%YOY Focus on " Linseed-fed pork " core product, boost market presence & precision branding；Sales volume of Linseed-fed pork
Slide 13: Processed Meat & Meat Import Segments
Processed Meat & Meat Import Segments: Internal 6 Synergy Drives Profit despite Market Challenges Meat Import: Market Analysis & Synergy Processed Meat: R&D Excellence & "B+C" Generating Profit despite Market Challenges Dual Engine Drive • Leveraged market insights and supply chain • R&D Optimizatio
Slide 14: Green Development and Fulfill ESG Responsibilities
7 Green Development and Fulfill ESG Responsibilities Use Clean Energy, Reduce Carbon Dioxide •Strengthen biogas stations management, add new biogas generators. Nearly 25 million cubic meters of biogas are produced throughout the year, reducing carbon dioxide emissions by nearly 40,000 tons Pollutant
Slide 15: Content
Content Chapter 1 Business Overview Chapter 2 Financial Overview Chapter 3 Strategy and Outlook 14
Slide 16: 2024 Financial Highlights
2024 Financial Highlights 1 Revenue amounted to RMB16,326 million 2 Due to Improvement of operational efficiency and acceleration of cash flow, selling and distribution expenses/administrative expenses remains steady while finance costs decreased 13.4% year-over-year 3 Capital structure changed due
Slide 17: Revenue amounted to RMB16,326 million
1 Revenue amounted to RMB16,326 million Hog production Feed (RMB MM） (RMB MM） • In 2024, hog production volume was 3,560thousand heads, representing a year-on-year decrease of 31.5% -12.9 10,000 1. 1% 10,000 7,313 % 6,552 + 6,626 6,370 5,000 5,000 0 0 2023 2024 2023 2024 Fresh pork Processed meat pr
Slide 18: Selling, Distribution and Administrative Expenses; Finance Costs
Due to Improvement of operational efficiency and acceleration of cash flow, 2 selling and distribution expenses/administrative expenses remains steady and finance costs decreased 13.4% year-over-year Selling and Distribution Expenses/ Administrative Expenses Finance Costs 200 (RMB MM) (RMB MM) 1,400
Slide 19: Capital structure changed due to acquisition of COFCO Jiahua and remained healthy
Capital structure changed due to aquisition of COFCO JIAHUA and remained 3 healthy Net debt to equity ratio Total assets and Asset-liability ratio 80.0% （RMB MM） (RMB MM) 30,000 70.0% 15,000 52.8% 60.0% 25,000 52.9% 13,000 28.5% 50.0% 50.0% 43.3% 11,000 20,000 0.0% 40.0% 10,664 20,357 18,795 9,000 9
Slide 20: Content
Content Chapter 1 Business Overview Chapter 2 Financial Overview Chapter 3 Strategy and Outlook 19
Slide 21: Strategy and Outlook
Strategy and Outlook 1 Focus on Operations and Strengthen Management • Initiate targeted tasks to improve pig farming efficiency and comprehensively reduce costs 2 Propel Innovation through Technology • Advance high-quality genome breeding, overcome technical challenges to achieve technology impleme