On September 22, MUYUAN fell 3.02% in regular trading, trading at HKD 37.3/share, with turnover of approximately HKD 19.22 million.

The decline was driven by a confluence of near-term headwinds. Major hog producers have increased planned September slaughter volumes by over 3% month-on-month, with a backlog of medium-to-large hogs further suppressing short-term prices. Meanwhile, FIDELITY FUNDS sold 515,100 shares on September 14 at an average price of approximately HKD 37.67, reducing its long position to 5.87% from 6.04%, dampening market sentiment.

Although the company plans to cut its breeding sow herd below 3 million heads by end of September, the roughly 10-month lag between capacity reduction and commercial hog output means near-term supply pressure persists. Institutions broadly expect the pig price cycle inflection point to be delayed until next year, with mid-year average prices having hit a near-decade low of RMB 9.32/kg in April. The company continues its H-share buyback program, repurchasing 68,000 shares on September 21 for approximately HKD 2.59 million, though this has yet to fully offset bearish sentiment.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)