In November 2025, sales data from listed pig farming companies showed a collective year-on-year increase of 18.52% in hog sales volume. After excluding firms with incomplete disclosures, 16 major listed pig producers recorded combined sales of 16.541 million hogs, though this marked a 2.75% decline from October. Meanwhile, total revenue fell 19.47% YoY to RMB 21.077 billion, down 5.01% month-on-month.
**Leading Sales Volume** Muyuan Foods led with 6.602 million hogs sold, followed by Wens Foodstuff Group and New Hope Group, each exceeding 1.5 million. Year-on-year growth was positive for most firms, with Aonong Biological Technology and Kingsino Agrotech posting over 70% increases. However, Tangrenshen Group and Zhenghong Technology saw declines in sales volume.
**Revenue Performance** Dongrui Food Group reported the highest revenue growth at 36%, while Shenzhen Kingkey Smart Agriculture Times and Luoniushan Co. exceeded 10%. In contrast, 12 companies, including Tangrenshen and Zhenghong, recorded negative revenue growth. Notably, Tangrenshen’s November hog sales dropped 7.78% YoY to 456,500 heads, with revenue down 34.16% to RMB 629 million.
**Market Context** The national average hog price in November 2025 fell over 20% YoY, fluctuating between RMB 11.05/kg and RMB 16.23/kg during the year. Muyuan Foods’ cumulative 2025 sales surpassed 70 million hogs, while Aonong Biological reported a 72.21% surge in November sales but a 19.45% drop for the first 11 months.
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