Muyuan Foods (002714) Q1 2026 earnings summary

Executive summary

• Revenue for Q1 2026 was ¥29.89 billion, down 17.10% year-over-year from ¥36.06 billion.

• Net loss attributable to shareholders was ¥1.21 billion, compared to a net profit of ¥4.49 billion in Q1 2025.

• The decline in net profit was mainly due to lower hog prices and reduced income.

Financial highlights

• Operating cash flow was negative at ¥919.97 million, compared to a positive ¥7.51 billion last year.

• Basic and diluted EPS were both -0.22, down from 0.83 and 0.82, respectively.

• Total assets increased to ¥177.20 billion, up 3.18% from year-end 2025.

• Shareholders’ equity rose 12.34% to ¥87.28 billion.

• Non-recurring losses totaled ¥73.34 million, mainly from asset disposals and tax reductions.

Outlook and guidance

• Management attributes the profit decline to falling hog prices and expects continued pressure if market conditions persist.