(Wang Weijun) On November 2, the 17th International Oilseeds and Fats Conference and Agricultural and Livestock Industry (Derivatives) Conference, which was jointly organized by Dashang and Bursa Malaysia Derivatives (BMD) and specially supported by China Feed Industry Association, was held in Dalian. Business experts from industry associations, industrial enterprises and financial institutions gathered together to analyze and exchange views on hot topics of industrial development. Luo Yonggen, Secretary of the Group's Party Committee and Chairman of the Board, delivered a keynote speech on the topic of "Opportunities and Challenges of Soybean Crushing Enterprises". An Kefeng, Deputy Secretary of the Party Committee of the Group, attended the meeting.

Luo Yonggen in his speech from the analysis of China's soybean crushing industry fundamentals, China's soybean crushing industry is facing a new situation, new opportunities, new challenges and the development of China's soybean crushing industry initiatives proposed five aspects of the exposition.

Luo Yonggen analyzed the fundamentals of China's soybean crushing industry. 2022/23 annual world oilseed overall supply improvement; 2023/24 annual global oilseed in the soybean supply increased significantly under the leadership of the supply is expected to be further loose; Brazilian soybeans show a significant extension of the export window supply throughout the year trend, in the structure of China's soybean imports accounted for a significant climb; 2022/23 annual China's feed production Resumption of growth in 2022/23 years China's feed production, is expected to 2023/24 annual total demand for feed is flat slightly reduced; demand for weak growth is difficult to drive the growth of China's soybean crushing volume, is expected to 2023/24 annual soybean imports show a downward trend.

At present, China's soybean crushing industry is facing a new situation, Luo Yonggen proposed that the origin of storage and logistics on the discount and the pace of arrival of the adverse impact; with the increase in industrial use of fats and oils, the origin of the crushing and export competition is more intense, affecting the global export supply price and structure; overcapacity in the context of the industry capacity to continue to expand, the competition is more intense, the capacity utilization rate year by year to go down; the basis of the difference between the fluctuations in the intensification of the estimate Accuracy decreases, increasing arbitrage difficulty and increasing business risk.

In the face of new opportunities for China's soybean crushing enterprises, Luo Yonggen believes that the end of the epidemic economic rebound to the good trend continues, consumer demand is expected to rebound; middle-income groups to expand, meat, eggs and milk demand will remain strong; despite the decline in the long-term rate of increase in the forecast, but short-term China's protein consumption continues to grow.

For China's soybean crushing enterprise new challenges, Luo Yonggen analysis, the world has experienced a hundred years of unprecedented changes in the situation, the increase in risk factors, the difficulty of sound management; China and the United States economic cycle dislocation, the depreciation of the renminbi, indirectly increase the cost of imports; high inflation, the increase in the cost of means of production, the cost of a single acre of planting continues to be high; energy prices climbed, boosting the price of fertilizers, and the formation of support for shipping costs; is expected to be a loose supply, the crushing margins become worse, facing the sticker price. Crushing profit deterioration, facing the risk of loss of discount reset.

Luo Yonggen suggested that, in accordance with the development trend of China's soybean crushing industry, we should continue to expand the import source channels to strengthen the national supply chain security protection ability; moderately control the industry's production capacity expansion in order to maintain the balance of supply and demand growth rate; to strengthen the industry chain upstream and downstream cooperation, to build a moat for the stable development of the industry; and to call on the head of the size of the crushing enterprises to go out and cultivate the advantages of the whole industry chain.

Luo Yonggen said, at present, China is promoting the construction of a strong country with Chinese-style modernization, let all the enterprises in the crushing industry chain join hands, take the pulse of the times, seize the opportunities, actively cope with the difficulties and challenges, and rely on the huge domestic market and strong international resources to strengthen the international and domestic linkage and build a "double-cycle" system in the field of soybean pressing, and promote the development of China's soybean crushing industry. We will rely on the huge domestic market and strong international resource elements, strengthen international and domestic linkage, build a "double-cycle" system in soybean crushing field, push China's soybean crushing industry to realize a new development of higher quality and level, and contribute to the enhancement of China's capacity of grain and oil security supply.

During the conference, many of the Group's "non-GMO" and "organic" star products made a competitive appearance, demonstrating the quality of Jiusan's craftsmanship to global industry authorities, senior experts and participants.

It is reported that the conference, with the theme of "seeking progress in a stable manner to open a new situation, win-win cooperation and promote development", set up the morning of the 2nd "China and global macroeconomic analysis and outlook under the new situation" "China's food security strategy and its impact on the grain and oil industry" "China's food security strategy and its impact on the grain and oil industry", "China's food security strategy and its impact on the grain and oil industry". The impact of China's food security strategy and its impact on the grain and oil industry", "weather, supply and demand changes and global soybean, corn price outlook", "Dalian Commodity Exchange oil and grease, agricultural and livestock varieties and the development of the outlook" and other keynote speeches, and in the afternoon of the 2nd and 3rd Focusing on different industries in the morning set up "fats and oilseeds", "feed farming", "corn deep processing" 3 sub-forums, and strive to help more agricultural industry to share information, common exchanges, and seek common development.