HENZHEN, March 31, 2025 /PRNewswire/ -- On the evening of March 30, Shenzhen Kingkey Smart Agriculture Times (000048.SZ) released its 2024 annual financial report, demonstrating significant achievements in its strategic transformation focused on pig farming as the core business. The report shows the company achieved operating revenue of RMB 5.96 billion, net profit attributable to shareholders of RMB 714 million, non-GAAP net profit of RMB 786 million, and basic earnings per share of RMB 1.38.

Notably, the company's profit structure has undergone fundamental changes. In 2024, the pig farming business generated revenue of RMB 3.901 billion, representing year-on-year growth of 38.69% and accounting for 65.45% of total revenue, delivering profits despite challenging market conditions.

Concurrently, the company announced its 2024 profit distribution plan, proposing a cash dividend of RMB 3.5 per 10 shares (tax inclusive), totaling RMB 182 million. Against the cyclical fluctuations in the pig farming industry, the company's strong performance - with excellent breeding costs of RMB 13.67/kg and robust operating cash flow reaching RMB 997 million - provides solid support for the generous dividend distribution, fulfilling its commitment to shareholder returns.

Strong Pig Farming Performance: Achieving 2 Million Hogs in Five Years

During the reporting period, Shenzhen Kingkey Smart Agriculture Times' pig farming business sold a total of 2.1461 million hogs, a year-on-year increase of 16.32%, with sales revenue reaching RMB 3.901 billion and net profit of RMB 533 million.

This performance marks a fundamental success in the company's strategic transformation initiated in 2019, with modern agriculture now established as a core sustainable growth driver.

The company's transformation focused on two key pillars: business restructuring and continuous capacity expansion. Four major pig farming projects and supporting feed mills were completed and operationalized at "Shenzhen speed," delivering "Shenzhen quality" to the Greater Bay Area. In 2022, the company achieved its "one million hogs in three years" target with an output of 1.2644 million hogs. By 2024, output officially surpassed the 2 million mark, accomplishing the "two million hogs in five years" milestone. Rapid capacity release, quality assurance, and regional premiums in the Greater Bay Area have accelerated the transition from the previous property-dominated profit structure.