TacticScaleWhat Muyuan Foods (牧原股份) Does & How It Makes Money (002714.SZ)
Updated October 2026 · reflects Muyuan Foods's latest reported financials
Large Chinese hog farmer that also slaughters pigs and sells pork. Most of its revenue comes from breeding and selling hogs.
How Muyuan Foods makes money
Most of its revenue comes from breeding and selling hogs. It also earns money by slaughtering hogs and selling pork products, and by trading feed ingredients and selling feed.
What Muyuan Foods does
Muyuan Foods Group is a pork company in China's hog farming industry, founded in 1992 and based in Nanyang, Henan. It reports four segments: hogs; slaughtering and meat products; feed ingredients trading; and others. It breeds and sells piglets, breeding hogs and finished hogs, and sells hog carcasses, pork cuts, fresh and frozen meat, and by-products. Because it covers breeding, feed and slaughtering, Muyuan is exposed to China's pork market along much of the supply chain. The company was formerly Muyuan Foods Co., Ltd. and took its current name in May 2026.
Products & services
- Finished hogs
- Piglets and breeding hogs
- Fresh and frozen pork
- Pork cuts and hog carcasses
- Feed products and feed ingredients
牧原股份是做什么的？
牧原食品集团成立于1992年，总部位于河南南阳，是中国生猪养殖行业的猪肉企业。公司有四个业务板块：生猪业务、屠宰及肉食业务、饲料原料贸易以及其他业务。产品包括仔猪、种猪、商品猪，以及白条猪、分割肉、生鲜和冷冻猪肉及副产品。 公司业务覆盖养殖、饲料和屠宰等多个环节，与中国猪肉市场关系密切。公司原名牧原食品股份有限公司，2026年5月更名为牧原食品集团股份有限公司。
What is Muyuan Foods worth?
On an owner-earnings DCF, Muyuan Foods's most-likely value is about ¥10 versus a recent price near ¥42 (318% above fair value). But TacticScale only calls a stock undervalued when the price sits below its conservative no-growth floor (~¥5) with a margin of safety — so the honest verdict here is “Fairly priced — no edge.” Fair value earns its keep only at the extremes, not in the wide middle.
Price sits in the normal range — fair value isn't actionable here; it earns its keep only when price drops below the no-growth floor, or runs to roughly double the optimistic case.
⚠ High leverage — net debt is 24.2× annual cash flow. Net debt is subtracted from this fair value, but refinancing at higher rates, principal timing, and share dilution aren’t modeled — the equity can be worth far less if cash flow weakens.
Analysis, not advice. Fair value is a margin-of-safety estimate from a deterministic owner-earnings DCF, not a price target or recommendation. See the full breakdown →
One company, two listings
Muyuan Foods trades in mainland China and in Hong Kong. Same business, same profits — but the two markets can price it at different multiples, because they have different investors, money and reference points.
| Market | Ticker | Price | P/E |
|---|---|---|---|
| Shenzhen (A shares) | 002714.SZ | ¥41.78 | — |
| Hong Kong (H shares) | 2714.HK | HK$36.66 | — |
As of 12 October 2026. Prices in each listing's own currency. Why one profit can carry two prices: Valuation Is Not a Property of the Company.
Related companies
Yunnan Shennong Agricultural Industry (605296.SS) · Wens Foodstuff (300498.SZ) · Henan Shuanghui Investment & Development (000895.SZ)