Chaoqin Enterprises (8345), the largest poultry slaughterhouse in northern Taiwan, is set to go public on June 18, with a reference price of NT$35 per share. Founded in 1985, Chaoqin aims to become a professional supplier in the meat industry while pursuing the vision of genuine food as it celebrates its 40th anniversary this year.

Distinct from its competitors, Chaoqin has developed a "high-quality domestic fresh chicken supply chain integration platform" through strategic alliances with upstream breeding farms, feed factories, contract farms, professional slaughterhouses, and processing plants, delivering fresh and delicious chicken products to major retailers. According to the Council of Agriculture, the per capita poultry meat consumption in Taiwan reached 43 kg in 2022, with white meat chicken being the main source of quality protein for people. The annual slaughter volume of domestic white meat chicken has increased from 196 million birds in 2014 to an estimated 271 million by 2024, with supply volume rising from 298,000 tons to 433,000 tons, reflecting stable market growth at a compound annual growth rate of 3.8%.

Chairman Chuo Ching-lun stated that since 2018, Chaoqin has introduced AI smart agriculture and digital technology to enhance the specification compliance rate of chickens from 70% to 88%, optimizing the sales mix. Moreover, the company is actively developing customized products in response to the needs of distribution channels and customers. For instance, they launched family-sized, finely packaged products for supermarket chains, while providing flavor development and meat processing services for chain restaurants, reducing back-end preparation costs and enhancing the quality stability of served dishes. Notably, meticulously cut products, such as sliced chicken thigh, have seen annual sales exceed 3 million boxes; revenue from processed and ready-to-eat products has grown from 10% to 14% of total revenue.

Looking ahead to 2024, Chaoqin's revenue is expected to be NT$35.90 billion, with a net profit of NT$1.30 billion and earnings per share of NT$2.68. As AI technology is further applied and strategic alliances are leveraged, the proportion of sales to chain supermarkets and restaurants is expected to increase, driving operational growth while the white meat chicken market experiences steady growth and the rapid development of processed and ready-to-eat products is anticipated to gradually manifest by 2025.