On September 24, MUYUAN declined 3.49% in regular trading, trading at HKD 36.64 per share, with turnover of approximately HKD 6.85 million. The drop was driven by persistent hog price weakness amid escalating supply-side pressure.

According to the latest Huayuan Securities research report, slaughter pressure continues to rise with secondary fattening facility utilization holding at 43%, keeping overall hog prices under strain. In August, listed hog companies reported aggregate slaughter volumes up 2.16% year-on-year and 5.29% month-on-month, while the company's average commercial hog selling price fell 23.76% year-on-year, with sales revenue declining 21.9% to RMB 9.25 billion. The traditional Golden September consumption season has failed to deliver expected price recovery, with nationwide lean hog prices retreating to around RMB 10.65-10.69 per kilogram. Institutions broadly expect the hog price cycle inflection point to be delayed until next year, as supply-demand dynamics remain weak in the near term.

(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.)