Wens Foodstuff Group Co., Ltd.

Wens Foodstuff Group takes tenth place on the Animal Feed Owned-Capacity Index with revenue of RMB 103.862 billion, about US$14.6 billion for FY2025, and compound feed production that has held above 20 million tonnes a year. Its feed never leaves the group: contract farms must use the ration its own mills make and no outside feed may enter, so the mills are internal infrastructure rather than a sellable product, which is why a system of this size ranks last here. Revenue is below the US$32.2 billion entry line of the 2025 Fortune Global 500, and there is no parent company and no register position above it.

Industry Position

Wens operates more than 110 wholly owned feed plants, close to 400 controlled subsidiaries, and breeder farms, feed mills and poultry and pig slaughter plants across more than 20 provinces, with about 52,000 employees. Annual compound feed production above 20 million tonnes puts it among the larger manufacturing systems in China, and all of that output stays inside the group. None of it carries a brand an outside farmer would recognise, and no part of the network is designed for a third-party customer.

Tenth place follows from that captivity rather than from size. The index puts 45 percent of the weight on manufacturing strength and 25 percent on core category productivity, and it distinguishes capacity that yields a sellable product from capacity that supports a farming operation. Wens falls entirely into the second category, and internal supply plus specialist sales, worth over RMB 50 billion a year, are not a product an outside farmer chooses to buy.

Competitive Advantages

The closed ration rule is the core of the model. Contract farms may feed only what the group's own plants produce, which removes the price pressure a commercial feed maker faces and replaces it with an absolute requirement for uniformity, freedom from medication residue and traceability from batch to shed.

Enclosed elevated buildings, computerised batching consoles and microwave ripening are specified for that requirement, while a dedicated biotechnology institute supplies hydrolytic enzymes that release more energy from wheat and brown rice when they replace corn, reducing reliance on imported energy grain and shortening finishing cycles. That research is defensive rather than commercial: it lowers the cost of the group's own meat instead of creating a product to sell.

Strategic Expansion

Expansion has been reined in rather than pushed. New feed plants in regions already carrying surplus capacity were dropped during 2024 and 2025, and the capital moved to dust extraction and digital scheduling at existing high-output mills, adding throughput without adding sites or fixed costs.

No commercial feed brand is being developed to absorb spare capacity either. The group's own livestock numbers set demand, and selling feed outside would put it in competition with the contract farmers it depends on, so growth is expected to come from the farming side of the business instead.

Risks & Outlook

The first half of 2026 showed the exposure clearly, with revenue of RMB 46.747 billion and a net loss of RMB 4.366 billion as meat prices bottomed. Because feed is consumed rather than sold, there is no manufacturing margin to earn while livestock prices fall, and the mill and the animal remain a single profit centre through the whole cycle.

A turn in prices restores the earnings, and the feed network will keep supplying them at a cost few outside manufacturers could match, but this table cannot price that network as a product. The 82 reflects internal infrastructure of national scale that earns nothing on its own account. VerityRank Score of 82/100.