On June 1, 2026, Muyuan Foods Group Co.,Ltd. announced that Qin Yinglin has resigned from his positions as director, chairman, member of the strategy committee and sustainable development committee, and president of the company. Following a review by the company's board of directors, it is proposed to appoint Mr. Qin Yinglin as lifetime honorary chairman and to serve as the head of the Muyuan Pig Farming Research Institute. He will continue to focus deeply on technological innovation and breakthroughs in the pig farming industry, supporting the company's long-term high-quality development and contributing to industry progress.
Mr. Cao Zhinian was elected as the company's chairman. Upon review by the Muyuan board's nomination committee, Chief Financial Officer Gao Tong was appointed as president and chief financial officer. It is proposed to elect Mr. Gao Tong and Mr. Qin Muyuan as non-independent (executive) directors of the company, marking the formal completion of the leadership transition at Muyuan.
Muyuan integrated corporate succession into its strategic planning early on, treating it as a crucial aspect of corporate governance. Since 2021, the company has innovatively adopted a dual-core leadership management model. The first-generation executives, primarily from the post-65s generation who led during the entrepreneurial phase, focus deeply on technological development, providing guidance and ensuring stability to navigate challenges and secure safety.
The second-generation executives, led by those from the post-90s generation, are fully responsible for the operational management of all company business areas. They handle day-to-day operations and make independent decisions, focusing on executing the right business strategies and being accountable for operational results.
Looking at Muyuan's development achievements over the past five years, this innovative succession governance model has successfully combined aggressive advancement with operational stability. The comprehensive capabilities and practical results of the second-generation successor team in operational decision-making and overall management have been fully validated.
The core pig farming business has developed steadily, continuously reducing costs and improving efficiency. The enterprise has shifted from rapid growth to high-quality development, with the debt-to-asset ratio consistently declining and operations becoming more stable.
The slaughtering business has continuously expanded in scale, achieving its first annual profit last year and maintaining profitability in the first quarter of 2026, with expectations for continued profit growth.
Overseas expansion has begun to show results. The first jointly built farm with Vietnamese company BAF was officially put into operation on May 8.