MUYUAN (Muyuan Foods Co., Ltd.) reported that March 2026 sales revenue from finished hogs fell to RMB 8.61 billion, down 32.73% year-on-year, as the average selling price slumped 30.70% to RMB 9.91 per kilogram. Monthly sales volume edged down 2.65% to 6.75 million heads, including 2.46 million heads supplied to wholly owned subsidiary Muyuan Meat Co., Ltd.

Sequential movements highlight intensifying price pressure. Compared with February 2026, the average selling price dropped 14.49%, extending a three-month slide (January: RMB 12.57/kg; February: RMB 11.59/kg; March: RMB 9.91/kg). Nonetheless, volumes rebounded 46.74% month-on-month, lifting revenue 34.38% from February’s RMB 6.41 billion.

For the first quarter of 2026, cumulative hog sales reached 18.36 million heads, generating revenue of RMB 25.58 billion. Reproductive sow inventories stood at 3.129 million heads as of end-March, positioning the group for continued large-scale production.

Management reiterated that fluctuations in hog prices and animal disease risks remain key uncertainties for operating results. All disclosed figures are unaudited and subject to confirmation in forthcoming periodic reports.