The Fangzheng Securities Research Report pointed out that sluggish pig prices are dragging down short-term performance, and they are optimistic about Makiyuan Co., Ltd.'s performance elasticity next year. In the first half of 2026, the company achieved a net profit loss of 6.078 billion yuan to mother, changing from profit to loss over the previous year. Among them, the loss for the second quarter was about 4.863 billion yuan in a single quarter. In the long run, we are optimistic about the continuous optimization of the company's pig breeding model, the cost advantage will be further consolidated, the slaughter business is expected to continue to contribute to growth, and production and operation will be stable for a long time. On the other hand, it is believed that after experiencing a continuous slump in pig prices, the removal of production capacity in the industry will continue to advance, pig prices are expected to rise markedly next year, and the company's profits are expected to improve markedly. Therefore, the company is expected to achieve revenue of 1202.14, 153.39, and 15.314 billion yuan respectively in 2026-2028, and realized net profit of -44.74, 288.37, and 28.463 billion yuan respectively. The corresponding 2027-2028PE is 7.82 and 7.92x, maintaining the “recommended” rating.

The Fangzheng Securities Research Report pointed out that sluggish pig prices are dragging down short-term performance, and they are optimistic about Makiyuan Co., Ltd.'s performance elasticity next year. In the first half of 2026, the company achieved a net profit loss of 6.078 billion yuan to mother, changing from profit to loss over the previous year. Among them, the loss for the second quarter was about 4.863 billion yuan in a single quarter. In the long run, we are optimistic about the continuous optimization of the company's pig breeding model, the cost advantage will be further consolidated, the slaughter business is expected to continue to contribute to growth, and production and operation will be stable for a long time. On the other hand, it is believed that after experiencing a continuous slump in pig prices, the removal of production capacity in the industry will continue to advance, pig prices are expected to rise markedly next year, and the company's profits are expected to improve markedly. Therefore, the company is expected to achieve revenue of 1202.14, 153.39, and 15.314 billion yuan respectively in 2026-2028, and realized net profit of -44.74, 288.37, and 28.463 billion yuan respectively. The corresponding 2027-2028PE is 7.82 and 7.92x, maintaining the “recommended” rating.