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Dekon Food and Agriculture Group (2419) investor relations material

Dekon Food and Agriculture Group H1 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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H1 2025 earnings summary15 Aug, 2025

Executive summary

  • Revenue for the first half of 2025 reached RMB11,695.4 million, up 24.3% year-over-year, driven by strong pig segment performance and increased sales volumes.

  • Profit before biological assets fair value adjustments surged 250.6% year-over-year to RMB1,273.1 million, reflecting improved operational efficiency and cost control.

  • Net profit attributable to shareholders was RMB1,292.4 million, down from RMB1,766.5 million in the prior year, mainly due to lower fair value gains on biological assets.

  • Gross profit margin improved to 17.4% from 12.4% in the prior year, supported by lower feed costs and enhanced management.

  • No interim dividend was declared for the period.

Financial highlights

  • Revenue: RMB11,695.4 million (+24.3% YoY); Pig segment revenue: RMB9,878.8 million (+32.6% YoY); Poultry segment revenue: RMB1,335.5 million (–13.5% YoY); Ancillary products revenue: RMB481.1 million (+16.1% YoY).

  • Profit before biological assets fair value adjustments: RMB1,273.1 million (+250.6% YoY); Net profit: RMB1,292.4 million; Earnings per share: RMB3.32.

  • EBITDA (before biological assets fair value adjustments): RMB1,878.0 million (+81.7% YoY).

  • Gross profit margin: 17.4% (vs. 12.4% prior year).

  • Net cash generated from operating activities: RMB1,738.9 million; Capital expenditure: RMB556.6 million.

Outlook and guidance

  • Pig segment to focus on empowering farmers, expanding ecological circular agriculture, and increasing market share in Southwest China.

  • Poultry segment expects demand recovery in H2 2025, with efforts to reduce costs, optimize breed structure, and expand sales channels.

  • Ancillary segment to enhance slaughtering and food processing efficiency, aiming for high-quality, traceable meat products and regional market share.

  • Continued investment in ESG initiatives and risk management, including use of pig futures for hedging.

  • Focus remains on innovation, efficiency, and cost reduction across all segments in the second half of 2025.

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