Zhitong Finance App News, China Shengmu-PF (01432) announced that in the first half of 2026, the group's main business performance continued to improve. Although one-time income such as government subsidies was drastically reduced compared to the same period last year, it is still expected to make profits of 15 million yuan to 25 million yuan during this period (same period in 2025: loss during the period of about 46 million yuan); profit attributable to company owners is not less than 60 million yuan (same period in 2025: loss due to company owners about RMB 48 million), which turned the overall profit into a loss of about RMB 48 million.
According to the announcement, the main benefits of turning a loss into profit were: fresh milk sales recorded a double-digit increase and the share of organic milk sales of the core product remained stable; the yield of adult dairy cows increased steadily and broke through 13 tons for the first time, achieving a year-on-year decline in kilogram milk sales costs. The decline has offset the downward pressure on raw milk sales prices and driven a year-on-year increase in comprehensive gross margin; benefiting from the double benefits of lower production costs and rising sales prices in the cow elimination market. Losses due to changes in fair value of dairy cows during this period decreased compared to the same period, which comprehensively affected the reduction in fair sales costs of biological asset values compared to the same period. Losses generated decreased year over year.