In-Depth: New Hope Introduces Strategic Investors to Fix Balance Sheet
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- New Hope Liuhe Co., Ltd. faces significant losses in recent years due to downturns in the agriculture and breeding industry, leading to strategic divestments and focus on core businesses.
- The company sold its white-feathered poultry industry stake and food processing business, aiming to concentrate on feed, pig breeding, and international operations for sustainable development.
- New Hope is actively repairing its balance sheet through asset sales and a planned private placement of 7.3 billion yuan to ensure it can weather the current difficult cycle in the livestock industry.
文｜财新周刊 王娟娟 凌华薇
By Caixin Weekly's Wang Juanjuan, Ling Huawei
与改革开放同步蓬勃发展了40年之后，民企的金字招牌新希望境况如何？如何穿越周期？
After thriving alongside China's reform and opening-up for 40 years, what is the current state of the private enterprise New Hope? How does it navigate through economic cycles?
综合农牧企业的龙头新希望六和股份有限公司（000876.SZ，下称“新希望”）于1998年上市，在2013年整合了此前新希望集团收购的青岛一家大型农业民企山东六和集团有限公司（下称“六和”），全名变成新希望六和股份有限公司，主业也整合为饲料、白羽肉禽养殖、生猪养殖、食品、海外五大板块。也是在这一年，新希望创始人、知名企业家刘永好将新希望上市公司的董事长职位交到大女儿刘畅之手。
New Hope Liuhe Co., Ltd. (000876.SZ), a leading integrated agribusiness company, went public in 1998. In 2013, it consolidated Shandong Liuhe Group Co., Ltd., a large agricultural private enterprise in Qingdao previously acquired by New Hope Group, and was renamed New Hope Liuhe Co., Ltd. The company's main business areas were also integrated into five major segments: feed, white-feather broiler breeding, pig farming, food, and overseas operations. It was also in this year that Liu Yonghao, the founder of New Hope and a well-known entrepreneur, handed over the position of chairman of the listed company to his eldest daughter, Liu Chang.
只是自2021年以来，连续三年面临行业周期和经济周期均下行的压力之下，猪、禽、水产等养殖全行业亏损，新希望在经历了2020年销售过千亿元、盈利49亿元的巅峰之后，不得不转而面对连年亏损的现实。
Since 2021, the breeding industry, including pigs, poultry, and aquaculture, has been suffering losses for three consecutive years due to the downward pressure of both industry and economic cycles. After reaching a peak in 2020 with sales exceeding 100 billion yuan and profits of 4.9 billion yuan, New Hope has had to confront the reality of consecutive annual losses.
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