Muyuan chairman Qin Yinglin said the company’s 2025 results confirmed his view that pig farming, while traditional, remains a promising industry for long-term investment and commitment. He highlighted technology, breeding, smart farming, farmer support, and international expansion as key drivers for higher-quality growth.
In the 2025 annual report released on the evening of March 27, Muyuan chairman Qin Yinglin published a message titled “Moving forward with technology, moving forward with quality.” It was the first time the company had carried a chairman’s address in its annual report since its A-share listing in early 2014.
Qin Yinglin
“Our experience in 2025 has made us even more convinced that, although pig farming is a traditional industry, it is a good sector worth long-term investment and commitment,” said Qin Yinglin, chairman of Muyuan. He added that technological innovation has opened up broad room for the company’s development.
The annual report shows that Muyuan marketed about 77.98 million hogs and slaughtered about 28.66 million hogs in 2025. Full-year revenue reached CNY 144.15 billion (USD 20.08 billion), up 4.49% year-on-year, while net profit attributable to shareholders came to CNY 15.487 billion (USD 2.16 billion), down 13.39%.
Even so, the performance stood out in a year in which most pig companies remained loss-making.
“This is positive feedback from many years of sticking to innovation and deepening management, and it gives us more confidence and greater assurance about future development,” Qin said.
Technology at the centre
In Qin’s view, technological innovation is steering Muyuan towards higher-quality development, including in value-driven breeding, digital and intelligent upgrades, and broader efforts to benefit farmers and raise rural incomes.
Unit Interior Inspection Robot
Muyuan said its CNY 6.00 billion (USD 835.65 million) high-health breeding platform is progressing steadily, with the aim of continuously selecting varieties that better meet consumer demand and bring tastier, healthier pork to the table. The company added that smart air-filtered pig houses, working together with intelligent environmental control systems, inspection robots, and other smart equipment, are creating a healthier growth environment for pigs while also making pig production simpler and easier to manage.
The company also said it had helped create employment for 127,600 people. Through systematic training, it has supported farmers in transitioning into a new generation of agricultural workers, provided a stable new path for more than 7,000 pig farmers who had left production, and supported the professional development of 10,000 farms and producers through its industry interconnection platform.
Muyuan’s international push also made tangible progress last year. The company reached strategic cooperation agreements with Vietnam’s BAF and Thailand’s CP Group, and more recently completed its listing on the Hong Kong Stock Exchange, becoming the first Chinese hog producer with an A+H dual listing.
Looking to 2026
Looking ahead to 2026, the opening year of China’s 15th Five-Year Plan, Qin said rising consumer expectations and technological innovation would remain the core drivers of development in the pig sector, while also creating major room for corporate growth.
“We will remain unwavering, move forward with technology, move forward with quality, navigate uncertainty and move towards certainty, and advance towards the goal of ‘good pigs, good people and a good industry’,” he said.
Qin also noted that every step in the company’s growth has depended on support from all sides. To thank shareholders and investors for their long-term trust, he proposed a cash dividend of about CNY 2.435 billion (USD 339.14 million). Combined with the interim dividend, total payouts would reach CNY 7.438 billion (USD 1.04 billion), equivalent to 48% of Muyuan’s 2025 net profit attributable to shareholders.
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