Zhengwei Group Holdings Company (2147) H1 25/26 earnings summary

Executive summary

• Revenue rose 38.7% to RMB413.351m; gross profit reached RMB22.987m and net loss narrowed to RMB27.758m from RMB40.570m.

• Manufacturing ceased production in 2025; trading drove sales, and any manufacturing restart depends on future business and product developments.

Financial highlights

• Revenue was RMB413.351m versus RMB298.106m; sales of dried delicacies, dried aquatic products and poultry and meat products rose RMB214.7m, partly offset by a RMB99.5m decline in snacks, grains and seasonings.

• Cost of sales increased to RMB390.364m from RMB297.019m, mainly due to higher direct material costs; gross profit rose to RMB22.987m from RMB1.087m.

• Net loss narrowed to RMB27.758m from RMB40.570m; loss before tax was RMB26.947m, including RMB18.247m in net other losses, mainly from asset disposals.

• Distribution and selling expenses rose to RMB21.370m from RMB6.751m, while administrative expenses fell to RMB9.215m from RMB18.785m; income tax expense declined to RMB0.8m from RMB19.7m.

Outlook and guidance

• Plans include developing snacks based on retailer feedback and consumer preferences, and expanding sales and concession networks in Southeast China, particularly Fujian.

• Marketing plans include supermarket-chain promotions and advertising through traditional media, high-traffic locations and WeChat.

• Manufacturing resumption depends on future business and product developments.