Anjoy Foods Group (603345) Q2 2026 earnings summary

Executive summary

• Operating income rose 21.9% year-over-year to RMB9.27 billion, driven by strong demand and expanded product offerings.

• Net profit increased 22.8% year-over-year to RMB828.8 million, with net profit attributable to shareholders up 21.6%.

• Gross profit margin improved by 0.7 percentage points to 21.2% due to higher sales volume and product mix optimization.

• Interim dividend of RMB1.733 per share (tax inclusive) proposed, totaling RMB575.6 million, representing 70% of interim net profit.

Financial highlights

• Revenue from quick-frozen flavored and processed products grew 26.4% year-over-year to RMB4.75 billion, accounting for 51.3% of principal business revenue.

• Quick-frozen prepared dishes revenue increased 23.7% to RMB2.99 billion, 32.3% of principal business revenue.

• Quick-frozen flour and rice products revenue declined 4.5% to RMB1.19 billion, 12.8% of principal business revenue.

• Gross profit reached RMB1.97 billion, up 26.1% year-over-year.

• Selling, administrative, and R&D expenses rose moderately, with selling expenses up 8.7%, administrative up 7.5%, and R&D up 6.9%.

• Asset impairment losses increased significantly, mainly due to goodwill impairment of RMB57.1 million for Hubei New Liuwu Foodstuff Group.

Outlook and guidance

• The quick-frozen food industry is expected to maintain robust growth, with a projected CAGR of 9.4% in China from 2024 to 2029.

• The company will focus on product innovation, intelligent production, and overseas expansion to solidify its leading position and enhance profitability.

• Health-oriented and premium products, as well as digitalization and channel diversification, remain strategic priorities.