Guangdong Haid Group Co., Limited
海大集团
002311
Shenzhen Stock Exchange
Company Profile
I. Steady Development of Main Business 1.In the first half of 2025, the company's feed sales volume reached a record high for the same period: the company achieved a feed sales volume of approximately 14.7 million tons (including internal breeding consumption of approximately 1.05 million tons), a year-on-year increase of about 25%. The absolute value of export growth has approached the annual target for 2025, and the market share has further increased. 2.Continuous research and development in seedling and animal protection businesses, and active development of new categories: In the first half of 2025, the company's seedling business achieved an operating income of 770 million yuan. In terms of shrimp breeding, it has formed a germplasm resource bank with high genetic diversity, and has multiple professional shrimp breeding centers, propagation and testing bases to ensure the strong competitiveness of the company's shrimp seedling products. The company has continued to adhere to and invest in the fish fry industry, breaking through traditional breeding models and introducing indoor industrial breeding; the company's tilapia varieties have made major breakthroughs in breeding, propagation, and breeding links, and are expected to quickly form industrial advantages in the next few years; in raw fish, yellow catfish and other varieties took the lead in realizing the scale of unisexual seedlings. Geographically, the company has invested in the construction of aquatic and poultry seedling farms in Vietnam, Indonesia and other countries, starting the international strategic layout. The animal protection business achieved an overall operating income of 460 million yuan. The company has worked hard in the field of animal protection, relying on strong R&D capabilities, closely following market demand to achieve product innovation and upgrading, and has successively launched various innovative products such as functional materials, health materials, and enzymes, combining animal protection products with feed into one, and continuously improving the ability to protect farmers. 3.Control risks in downstream breeding and develop steadily In the pig breeding business, the company continues to focus on the capacity building of the pig breeding team and the innovation of the asset-light model, and strives to explore and implement the operation model of "purchasing piglets, company + family farm, locking in profits, and hedging risks". With the improvement of the team's professional ability and the exploration and iteration of the model, the asset-light, low-risk, and stable pig breeding model has become increasingly clear, and the overall breeding risk is controllable and the profit is considerable. In terms of aquatic breeding, the company's main breeding varieties are special aquatic products such as prawns. Factory shrimp farming has the advantages of safety, controllability, and stable quality compared with traditional breeding models through scientific factory design, recirculating water systems, biological bait technology, and strict biological prevention and control. It can form misplaced competition with traditional products in terms of listing time and product specifications. The company appropriately controls the scale of raw fish breeding and continuously improves the professional level of breeding. II. Review and Outlook In the first half of 2025, the company broke through against the trend. The scale advantage brought by the growth of feed sales and the improvement of internal operating efficiency have built basic operating advantages with high capacity utilization and low costs in the extremely fierce competition environment of the feed industry. On this basis, it has further built competitive advantages of product leadership and customer intimacy. Looking forward to the future, the company has a clear strategic plan - the feed business as the first core business will reach a total sales volume of 51.5 million tons by 2030, steadily increase domestic capacity utilization and market share, and further accelerate the expansion of overseas feed business. The company will cling to its strategic goals, practice the development path of operational excellence, product leadership, and customer intimacy, achieve its own growth, empower industry upgrading, and create value for society. III. Building Core Competitiveness through Product + Service System The company's products and services are all laid out around breeding needs, with core competitiveness reflected in its ability to create value for customers. This is comprehensively demonstrated in the following aspects: 1.R&D-driven feed product strength is the company's most important competitive advantage; 2.High-quality seedlings and animal protection products address farmers' pain points; 3.The breeding technical service system serves as a key driver for the company to create value for customers, continuously acquire new customers, and enhance customer stickiness.
Full description
The company conducts industrial chain business layout by providing overall solutions for animal breeding. Its main products include feed, high - quality animal seedlings, animal health products, pigs, aquatic products, etc. The business operations cover all business links such as R & D, design, production, sales, and services of various products. Specifically, the company's products include animal feeds for chickens, ducks, geese, pigs, fish, shrimps, crabs, ruminants, etc.; breeding varieties such as pigs, shrimps, and fish; seedling varieties such as shrimp seedlings and fish seedlings; fresh livestock and poultry products and pre - cooked aquatic products; as well as animal health products such as biological products, veterinary drugs, and vaccines required in the process of livestock, poultry, and aquatic breeding. Main business and products (1) The three - body linkage of feed, seedlings, and animal health products creates value for farmers. Feed, seedlings, and animal health products are the company's most core businesses, accounting for over 80% of the company's operating income. After more than twenty years of development, the feed business has accumulated a wide range of customer resources. By providing customers with high - quality animal seedlings scarce in the market and feed products with high cost - performance and strong product power, and relying on the breeding technology service system to drive the development of animal health products such as vaccines, veterinary drugs, and biological products, the company can help customers achieve breeding success through a full - set of breeding solutions. It helps customers control breeding costs while achieving healthy breeding and gain a competitive advantage in terminal products. (2) On the basis of specialization, the breeding business realizes a light - asset and low - risk breeding model. On the basis of the high - quality development of the feed, seedling, and animal health product businesses, the company explores models in the breeding link. In livestock and poultry breeding, the company currently mainly focuses on pig breeding. Its professional breeding ability continues to improve, breeding costs are continuously optimized, and risks are controllable. In aquatic breeding, the company uses its high - quality seedlings, feed, and animal health products to focus on the industrialized breeding of white - leg shrimp, in which the company has an overall advantage. In the breeding business, the company controls the breeding scale, builds teams, reduces costs, and improves the system, and is building core competitiveness. Main business models (1) Business models of feed, seedling, and animal health product businesses. The feed business is the company's core business. Its operation and management mainly adopt an operating model that combines centralized procurement decision - making of raw materials, decentralized production layout, and close integration of product sales and technical services. ① For bulk raw materials such as agricultural products, the company adopts a centralized procurement model of "group + regional center" combined with hedging and other methods to obtain better procurement advantages and risk control; ② In the production link, with the goal of being closest to the market, having convenient logistics, and rich resources, the company conducts multi - point production layout in breeding areas. Currently, the factories are mainly distributed in more than 200 cities in Asia, Africa, and South America; ③ The company focuses on local marketing, fully establishes distribution channels to efficiently meet the capital and transportation needs of farmers. At the same time, the company directly provides breeding technical services to farmers by deploying technical and service teams in breeding areas, forming a complementary and collaborative function between sales and services, channels and farmers; ④ High - quality animal seedlings, biological products, veterinary drugs, and vaccines have all become essential products and tools in the process of the company providing breeding technical services, constituting a comprehensive overall breeding solution. (2) Business model of the breeding business. The pig - breeding business basically adopts the "company + family farm" model. In the "company + family farm" model, the company provides family farmers with essential breeding products such as seedlings, feed, and vaccines. After agreeing on the main technical requirements of the breeding process, the family farmers complete the breeding process, and the company recycles the finished products for external sales. The company's aquatic product breeding and processing business is still in its infancy. The main variety of aquatic product breeding is white - leg shrimp. Relying on the company's advantages in high - quality seedlings, feed, animal health products, and technology, it conducts standardized and industrialized breeding.