Muyuan Foods adjusts convertible bond price, raises piglet sales outlook

Muyuan Foods adjusted the conversion price of its "Muyuan Convertible Bonds" from 45.18 yuan per share to 44.26 yuan per share, effective October 16, 2025. This adjustment follows the company's 2025 semi-annual equity distribution plan, which involves a cash dividend payout. Trading of the convertible bonds was temporarily suspended for conversion from September 30, 2025, to October 15, 2025, resuming on October 16, 2025.

In September 2025, Muyuan Foods sold 5.573 million hogs, an 11.05% increase year-over-year, with a sales revenue of 9.066 bn yuan, a 22.46% decrease year-over-year. The average sales price was 12.88 yuan per kilogram, down 30.94% year-over-year. As of September 30, 2025, the company's breeding sow inventory stood at 3.305 million head.

The company also revised its 2025 piglet sales forecast from an initial range of "8 million to 12 million head" to an updated range of "12 million to 14.5 million head," reflecting strong market demand and improved production efficiency. The equity distribution plan for the 2025 semi-annual period includes a cash dividend of 0.9275214 yuan per 10 shares (pre-tax).