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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
New Hope Liuhe
New Hope Liuhe (000876) investor relations material
New Hope Liuhe Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary30 Oct, 2026
Executive summary
Q3 revenue was RMB 32.109bn, up 11.18% YoY; nine-month revenue reached RMB 87.698bn, up 8.94% YoY, while nine-month net loss attributable to shareholders was RMB 2.568bn.
Lower hog selling prices drove losses in the pig business; increased asset impairment on biological assets also weighed on results.
Financial highlights
Nine-month operating costs were RMB 89.167bn versus revenue of RMB 87.698bn; operating loss was RMB 1.850bn, compared with operating profit of RMB 1.536bn a year earlier.
Nine-month net loss was RMB 2.641bn versus net income of RMB 980.7m in the prior-year period; attributable net loss was RMB 2.568bn versus attributable net income of RMB 760.0m.
Adjusted for non-recurring items, nine-month net loss attributable to shareholders was RMB 2.553bn; reported loss was RMB 2.568bn.
Segment performance
Pig operations were loss-making as hog selling prices declined, reducing retained earnings and driving the attributable net loss.
Feed business profitability increased, contributing to a 32.19% YoY rise in income tax expense.
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Latest events from New Hope Liuhe
- Net loss of ¥1.70 billion despite record feed sales, driven by pig segment losses and impairments.000876
H1 2026 - Revenue up 3.7% to ¥106.86B, but net loss of ¥1.78B due to hog price slump and asset write-offs.000876H2 2025
- Revenue up 11.77%, but net profit fell sharply to a ¥897.71 million loss on weak hog prices.000876Q1 2026
- Revenue up 4.51% in Q3 2025; net profit rebounded year-to-date on hog price recovery.000876Q3 2025
- Net profit rebounded to ¥754.86 million on 4.13% revenue growth, with all segments profitable.000876H1 2025
- Q3 2024 net profit jumped 256.68% year-over-year to ¥1.37 billion as hog prices rebounded.000876Q3 2024
- Net loss narrowed 59% in H1 2024 as pig prices rebounded and cost controls took effect.000876H1 2024
- Net profit rebounded to RMB 445 million on higher hog prices and cost controls.000876Q1 2025
Next New Hope Liuhe earnings date
H2 202627 Apr, 2027
New Hope Liuhe
Next New Hope Liuhe earnings date
H2 202627 Apr, 2027
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