COFCO Joycome Foods Limited reported a net loss of RMB 1.56 billion for the six months ended 30 June 2026, reversing a profit of RMB 0.32 billion a year earlier. Before biological-asset revaluations, the loss reached RMB 1.10 billion, compared with a profit of RMB 0.20 billion in the prior-year period.

\n\nRevenue declined 2.5 % year-on-year to RMB 8.74 billion, weighed down by weaker hog prices and a deliberate volume reduction in the meat-import unit. The gross margin before fair-value adjustments fell to –4.9 %, from 8.2 % a year ago, as average live-hog prices dropped 29.3 % to RMB 10.44/kg.

\n\nSegment breakdown showed: hog production sales of RMB 2.54 billion; feed RMB 2.59 billion; fresh pork RMB 2.47 billion; processed meat RMB 0.38 billion; and imported meat RMB 0.75 billion. The fresh-pork division swung to profit, adding RMB 28.71 million year-on-year, while the meat-import division’s profit rose 52.1 % to RMB 24.03 million.

\n\nOperating cash outflow totalled RMB 1.24 billion versus an inflow of RMB 0.11 billion a year earlier. Net debt increased to RMB 11.09 billion, pushing the net-debt-to-equity ratio to 152.9 % from 102.9 % at end-2025. Cash and bank balances stood at RMB 0.94 billion.

\n\nCapital expenditure reached RMB 0.66 billion, largely for new farms and processing capacity; outstanding capital commitments were RMB 0.83 billion. No interim dividend was declared.

\n\nManagement said priority in the second half will be on full-chain cost controls, accelerated AI-enabled farming, product R&D, brand expansion and continued green-development initiatives.