Yihai International (1579) H1 2026 earnings summary

Executive summary

• Revenue rose 14.3% year-over-year to RMB3,346.7 million for the six months ended 30 June 2026, with net profit up 20.3% to RMB396.0 million and basic EPS up 21.4% to RMB38.72 cents.

• Gross profit margin improved to 33.6% from 29.5% due to lower raw material prices, higher production efficiency, and reduced product discount expenses.

• Strong growth in third-party overseas channels (up 46.8%) and robust performance in hot pot condiments and ready-to-eat food products.

Financial highlights

• Gross profit increased 29.8% year-over-year to RMB1,123.1 million.

• Operating profit rose 27.1% to RMB547.2 million.

• Net profit attributable to owners was RMB375.6 million, up 21.4%.

• Interim dividend declared at HKD0.4188 (RMB0.3623) per share.

• Cash and cash equivalents stood at RMB1,750.4 million as of 30 June 2026.

Outlook and guidance

• Focus remains on channel building, product R&D, and overseas expansion for the second half of 2026.

• Plans to deepen digital and AI-driven channel management, enhance product customisation, and expand direct sales in Southeast Asia.

• Continued search for strategic investments to support growth.