Muyuan Foods (002714) Q3 2026 earnings summary

Executive summary

• 9M revenue was ¥92.20bn, down 17.52% YoY; attributable net loss was ¥9.32bn, versus net profit of ¥14.78bn a year earlier.

• Q3 revenue was ¥32.79bn, down 7.18% YoY, and attributable net loss was ¥3.24bn.

• Falling hog prices were cited as the primary reason for lower net profit; inventory write-down changes drove a sharp rise in asset impairment losses.

Financial highlights

• 9M operating revenue was ¥92.20bn versus ¥111.79bn YoY; total operating costs were ¥100.81bn versus ¥94.26bn.

• 9M operating loss was ¥8.45bn, pretax loss ¥8.93bn, and net loss ¥9.33bn.

• 9M attributable net loss excluding non-recurring items was ¥9.11bn; Q3 adjusted attributable net loss was ¥3.21bn.

• Total assets at Sept. 30 were ¥175.77bn, up 2.35% from year-end; parent-attributable equity was ¥77.52bn, down 0.22%.

Key financial ratios and metrics

• Basic and diluted EPS were both -¥1.67 for 9M, versus ¥2.74 and ¥2.69, respectively, a year earlier.

• Weighted average ROE was -11.60% for 9M, down 30.86 percentage points YoY; Q3 ROE was -4.12%, down 9.53 points.

• 9M operating cash flow was ¥2.98bn, down 89.56% YoY.