New Hope Liuhe (000876) H1 2025 earnings summary

Executive summary

• Achieved revenue of ¥51.62 billion, up 4.13% year-over-year; net profit attributable to shareholders was ¥754.86 million, a turnaround from a loss last year, with EPS at ¥0.16.

• Both feed and pig segments contributed to improved profitability, with all quarters in H1 2025 remaining profitable despite lower pig prices compared to last year.

Financial highlights

• Revenue increased 4.13% year-over-year to ¥51.62 billion; net profit attributable to shareholders rose 162% to ¥754.86 million.

• Operating cash flow grew 10.77% to ¥5.15 billion; basic and diluted EPS were ¥0.16, up from -¥0.28 last year.

• Gross margin for feed improved to 5.38%; pig segment margin rose to 13.20%.

• Total assets at period-end were ¥116.57 billion, down 1.14% from year-end 2024.

Outlook and guidance

• Focus remains on scaling feed business, improving efficiency, and reducing costs.

• Continued investment in overseas feed capacity and talent, with further expansion planned.

• Ongoing digitalization and AI adoption in pig farming to drive further cost reductions and productivity gains.