New Hope Liuhe Co., Ltd. is China's leading fully integrated agri-food conglomerate, operating across the entire value chain from feed production and livestock farming to food processing and consumer brands. Listed on the Shenzhen Stock Exchange (SZSE: 000876), the company achieved approximately 140 billion RMB in revenue in 2024, solidifying its position as the largest feed producer and one of the most influential agri-food enterprises in the country.
Core Business
New Hope Liuhe operates through four interconnected business segments that form a complete agricultural-to-consumer value chain. The Feed Business serves as the company's foundational pillar, producing over 30 million tonnes annually across more than 200 production facilities, including poultry feed, swine feed, aquatic feed, and ruminant feed. This segment generates roughly 50% of total revenue and establishes the company as China's dominant feed manufacturer. The Livestock Farming Business encompasses both swine and poultry operations, with annual output reaching 13 million head of hogs and 700 million poultry birds across more than 500 breeding bases nationwide. The company maintains proprietary breeding programs for both pork and poultry, enabling superior genetics and production efficiency throughout its farming operations.
The Food Processing Business represents the company's strategic growth engine, transforming raw agricultural products into consumer-ready offerings including fresh pork, poultry products, prepared foods, and branded food items. This segment benefits from the upstream integration with the company's farming operations, ensuring consistent quality, supply chain visibility, and cost efficiency. Additionally, the Agricultural Services segment provides animal health products, agricultural financing, and farming technical services that strengthen customer relationships across both B2B and B2C channels. Together, these four segments create a synergistic ecosystem where feed supports farming, farming supplies food processing, and all operations are backed by comprehensive agricultural services.
Global Presence
New Hope Liuhe has established a substantial global footprint spanning more than 20 countries, with operations strategically distributed across China's domestic market and international territories. Domestically, the company maintains operations across all major provinces and municipalities, with production facilities concentrated in key agricultural regions that optimize raw material sourcing and distribution efficiency. The domestic market accounts for approximately 90% of total revenue, reflecting China's position as both the company's primary production base and core consumer market. Overseas operations extend across 19 countries, including Vietnam, the Philippines, Egypt, and other markets in Southeast Asia and South Asia, contributing roughly 10% of revenue with particularly strong growth momentum at 12.5% year-over-year increase.
The company's global workforce comprises approximately 80,000 employees supported by infrastructure including over 200 feed mills, 500+ farming bases, and 100+ food processing plants. This extensive network enables New Hope Liuhe to serve both agricultural input markets through feed and breeding products, and consumer markets through fresh and processed food products. The company's international expansion follows a localized operational model, adapting products and production methods to regional market requirements while maintaining the quality standards and operational disciplines developed in China. This dual-market approach positions the company to capture growth opportunities across emerging agricultural markets while leveraging its scale advantages in procurement, technology, and brand development.
Key Strengths
New Hope Liuhe's competitive advantages are anchored in its industry-leading full-value-chain integration, enabling unparalleled cost control, quality assurance, and operational efficiency from feed production through final product delivery. The company has invested approximately 2.8 billion RMB in research and development (representing 2.0% of revenue), supporting advanced breeding technologies, digital agriculture applications, and innovative food product development that maintain technological leadership across all business segments. Additionally, the company demonstrates strong sustainability credentials through comprehensive food safety systems, waste resource utilization programs, and rural development initiatives that create shared value for stakeholders while ensuring long-term operational resilience.
