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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.
Wens Foodstuff Group
Wens Foodstuff Group (300498) investor relations material
Wens Foodstuff Group Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary21 Oct, 2026
Executive summary
9M 2026 attributable net loss was ¥4.961bn, following a ¥5.256bn profit in the prior-year period; sharply lower hog prices drove major losses in hog farming.
Q3 revenue was ¥25.450bn, down 1.88% YoY; 9M revenue was ¥72.197bn, down 4.74% YoY.
Financial highlights
Q3 attributable net loss was ¥595.5m, with a YoY change of -133.44%; 9M adjusted attributable net loss, excluding non-recurring items, was ¥4.999bn.
9M operating cash flow was -¥48.9m, versus ¥8.199bn a year earlier; lower hog prices and higher raw-material prices weighed on cash generation.
9M net loss was ¥4.996bn; income tax expense was ¥52.5m, down 61.34% YoY as deferred tax expense declined.
Segment performance
Hog farming incurred substantial losses amid a sharp decline in the principal product, live hogs; losses at hog-farming subsidiaries also drove minority shareholders’ loss of ¥34.7m for 9M.
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Latest events from Wens Foodstuff Group
- Net loss of ¥4.37 billion on revenue of ¥46.75 billion, driven by low hog prices and industry losses.300498
Q2 2026 - Net profit fell 43.25% year-over-year on lower prices, but cash flow and dividends remained strong.300498Q4 2025
- Net loss in Q1 2026 driven by falling hog prices and sharp drop in profitability.300498Q1 2026
- Net profit dropped 18.29% as product price declines outpaced cost reductions.300498Q3 2025
- Net profit jumped 159% to ¥3.47B on higher pig sales, despite chicken segment losses.300498Q2 2025
- Net profit for Q3 2024 soared over 3,000% year-over-year on strong livestock recovery.300498Q3 2024
- Net profit rebounded to ¥1.33B in H1 2024 on strong hog sales and cost control.300498H1 2024
- Net profit rebounded to ¥2.00B in Q1 2025 on strong pork sales and margin gains.300498Q1 2025
Wens Foodstuff Group
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