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New Hope Liuhe (000876) investor relations material
New Hope Liuhe H1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Revenue for H1 2026 reached ¥55.59 billion, up 7.68% year-over-year, driven by record feed sales and overseas growth.
Net loss attributable to shareholders was ¥1.70 billion, compared to a profit of ¥755 million in H1 2025, mainly due to industry-wide losses in pig farming and significant asset impairment charges.
Feed business achieved historical highs in both sales and profit, while pig farming faced deep losses amid low market prices.
Overseas operations continued rapid expansion, contributing significantly to overall results.
Financial highlights
Revenue: ¥55.59 billion (+7.68% YoY); Feed revenue: ¥41.44 billion (+16.8% YoY); Pig segment revenue: ¥12.94 billion (-9.94% YoY).
Net loss attributable to shareholders: ¥1.70 billion (vs. profit of ¥755 million YoY).
Operating cash flow: ¥1.65 billion (-68.05% YoY).
Basic/Diluted EPS: -¥0.38 (vs. ¥0.16 YoY).
Gross margin: Feed 5.23% (+1.77pp YoY); Pig segment 1.77% (-11.43pp YoY).
Total assets: ¥116.95 billion (+2.38% from year-end 2025).
Outlook and guidance
Company remains focused on core feed and pig businesses, aiming for cost reduction and efficiency improvements.
No interim dividend, bonus shares, or capital increase from reserves planned for H1 2026.
Ongoing asset optimization and digital transformation to support long-term competitiveness.
- Revenue up 3.7% to ¥106.86B, but net loss of ¥1.78B due to hog price slump and asset write-offs.000876
H2 2025 - Revenue up 11.77%, but net profit fell sharply to a ¥897.71 million loss on weak hog prices.000876
Q1 2026 - Revenue up 4.51% in Q3 2025; net profit rebounded year-to-date on hog price recovery.000876
Q3 2025 - Net profit rebounded to ¥754.86 million on 4.13% revenue growth, with all segments profitable.000876
H1 2025 - Q3 2024 net profit jumped 256.68% year-over-year to ¥1.37 billion as hog prices rebounded.000876
Q3 2024 - Net loss narrowed 59% in H1 2024 as pig prices rebounded and cost controls took effect.000876
H1 2024 - Net profit rebounded to RMB 445 million on higher hog prices and cost controls.000876
Q1 2025
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