New Hope Liuhe (000876) H2 2024 earnings summary

Executive summary

• Focus shifted to feed and hog farming/slaughter after divesting poultry and food processing at 2023 year-end, driving improved production management and cost reductions.

• Significant turnaround in profitability, with net profit attributable to shareholders up 90.05% year-over-year and adjusted net profit swinging to a gain.

Financial highlights

• Operating revenue for 2024 was ¥103.06 billion, down 27.27% year-over-year due to business restructuring.

• Operating profit rose 232.21% to ¥997.53 million; total profit increased 170.58% to ¥481.23 million.

• Net profit attributable to shareholders reached ¥473.60 million, up 90.05% year-over-year.

• Adjusted net profit (excluding non-recurring items) was ¥616.35 million, a 113.37% increase year-over-year.

• Basic EPS was ¥0.09, up 125% year-over-year; weighted average ROE improved by 1.02 percentage points to 1.73%.

Outlook and guidance

• Continued focus on core feed and hog businesses, with ongoing cost reductions and production improvements expected to support future growth.

• Overseas feed sales remain a strategic priority for further expansion.