On September 28, MUYUAN rose 3.57% in regular trading, trading at HKD 37.1/share, with turnover of approximately HKD 27.93 million.

On the policy front, the Ministry of Agriculture and Rural Affairs issued the National Livestock and Veterinary Industry Development 15th Five-Year Plan in September, incorporating top-tier enterprises with over 100,000 breeding sows into ministry-level capacity regulation. The national normal breeding sow inventory has declined to 37.5 million head. MUYUAN previously announced plans to reduce its breeding sow herd below 3 million head by the end of September. Meanwhile, livestock farming ETFs have recorded 10 consecutive days of net capital inflows, reflecting growing institutional interest.

Institutions broadly expect the ongoing capacity reduction to transmit to the slaughter end from year-end through next year, raising certainty of medium-term supply-demand improvement. Separately, the company has been actively conducting share buybacks on the Hong Kong exchange throughout September, cumulatively repurchasing over 2 million shares under its authorized buyback program approved in May.

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