Muyuan Foods' stock price plummeted 5.02% during intraday trading on Wednesday, reflecting significant investor concern following the release of the company's first-quarter financial results.

The sharp decline comes after Muyuan Foods reported a substantial deterioration in profitability for the first quarter. The company swung to a net loss attributable to shareholders of RMB 1.215 billion, compared to a profit of RMB 4.491 billion in the same period last year. Revenue also declined by 17.10% year-over-year to RMB 29.894 billion, with gross margin compressing significantly from 19.80% to approximately 5.17%.

The primary driver behind the disappointing earnings was the continued decline in hog prices, which pressured the company's profitability despite ongoing cost optimization efforts. While management expressed confidence in slaughter volume growth and full-year profitability improvement, the near-term earnings pressure clearly weighed heavily on investor sentiment during the trading session.