MeiHua Holdings Group (600873) Q2 2026 earnings summary

Executive summary

• Operating revenue for Jan–Jun 2026 was RMB 12.24 billion, down 0.37% year-over-year, with net profit attributable to shareholders at RMB 662 million, a 62.56% decrease year-over-year.

• Main product prices (lysine, threonine, MSG) declined due to oversupply and weak demand, compressing margins.

• Integration of acquired Kyowa Hakko assets under Plumino led to profitability ahead of schedule and improved global operational efficiency.

• Significant progress in R&D, digital transformation, and intelligent manufacturing, with AI-driven cost reductions and efficiency gains.

Financial highlights

• Revenue: RMB 12.24 billion (down 0.37% year-over-year).

• Net profit attributable to shareholders: RMB 662 million (down 62.56% year-over-year).

• Net cash flows from operating activities: RMB 389 million (down 83.17% year-over-year).

• Basic EPS: RMB 0.24 (down 61.29% year-over-year).

• Gross margin declined due to lower product prices and higher raw material costs.

Outlook and guidance

• Second half focus: deepen integration of global operations, accelerate commissioning of new projects, and further digitalization.

• Ongoing expansion in high-value-added products and overseas capacity deployment.

• Continued investment in R&D and AI to drive efficiency and product innovation.