China's COFCO Joycome Foods posts H1 loss due to lower hog prices

COFCO Joycome Foods

26/08/2026 05:14

Overview
China pork producer's interim revenue fell 2.5% yr/yr due to lower hog prices
Company posted RMB 1.09 bln net loss attributable, reversing prior-year profit
Brand business revenue ratio rose 3.5 percentage points yr/yr

Outlook
Company did not provide specific guidance for the current quarter or full year

Result Drivers
LOWER HOG PRICES - Co attributed revenue decline and net loss to a 29.6% yr/yr drop in average selling price of finished hogs
BRANDED BUSINESS GROWTH - Ratio of revenue from branded business rose 3.5 percentage points yr/yr, driven by brand communication and channel development
COST MANAGEMENT INITIATIVES - Co said cost management and operational improvements were strengthened but could not fully offset lower hog prices

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
H1 Revenue
 
RMB 8.74 bln
 
H1 Net Loss Attributable
 
RMB 1.09 bln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the food processing peer group is "buy"
Wall Street's median 12-month price target for COFCO Joycome Foods Ltd is HK$1.90, about 71.9% above its August 25 closing price of HK$1.11
The stock recently traded at 21 times the next 12-month earnings vs. a P/E of 29 three months ago

Reuters Recommended Reads
Aug 25 - China Modern Dairy's H1 revenue rises on higher milk volume, yield per cow
Aug 25 - China's Youran Dairy swings to H1 profit amid improved demand
Aug 24 - China to buy frozen beef, mutton for state reserve on Wednesday

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)