Shan Dong Delisi Food Co Ltd

Delisi released its 2026 interim report, with total operating revenue of 1.342 billion yuan, down 16.97% year-on-year; net profit attributable to the parent company was 5.6256 million yuan, down 45.40% from the same period last year. Net cash flow from operating activities was negative 650,600 yuan. The company's asset-liability ratio was 38.11%, gross margin was 9.97%, ROE was 0.25%, and diluted earnings per share was 0.01 yuan. The number of shareholders was 34,000, and the top ten shareholders held 49.34% of the total share capital.

Delisi released its 2026 interim report, showing both revenue and net profit declined during the reporting period, while its new retail channel achieved rapid growth and overseas exports made a breakthrough. The financial report shows the company achieved operating revenue of 1.342 billion yuan, down 16.97% year on year; net profit attributable to the parent company was 5.6256 million yuan, down 45.40% year on year; and non-GAAP net profit was 1.0739 million yuan, down 86.53% year on year. The chilled and frozen meat business was affected by falling pork prices, with revenue dropping sharply by 33.96% year on year to 442 million yuan, while revenue from quick-frozen prepared products within the prepared dishes segment rose 10.50% year on year to 158 million yuan, and revenue from ready-to-eat snack products doubled, up 103.44% to 46.89 million yuan. New retail channel revenue grew 45% year on year, benefiting from livestream e-commerce and deeper cooperation with leading institutions. The company faces risks including raw material price fluctuations and weak market demand, and will need to monitor pork and beef price trends and whether the new retail channel can offset the decline in traditional channels.

Delisi has made prior-period accounting error corrections and retrospective adjustments to its 2025 annual report and 2026 first-quarter report, directly causing the 2025 attributable net profit to swing from profit to loss. The correction stems from the transfer of an 11% stake in wholly-owned subsidiary Shandong Bindeli Food Co., Ltd. for 25.3 million yuan on December 19, 2025. At the parent level, an investment gain of 14.85 million yuan was recognized, but when preparing the consolidated financial statements, this gain was not reclassified to capital reserve, resulting in an overstatement of net profit by 14.85 million yuan in the consolidated income statement and an understatement of capital reserve by 14.85 million yuan in the consolidated balance sheet. After a self-inspection, the company convened a board meeting on July 17, 2026, and approved the retrospective restatement plan. Dahua Certified Public Accountants has issued a standard unqualified audit report. This adjustment reduces consolidated investment income by 19.8 million yuan, reduces income tax expense by 4.95 million yuan, simultaneously increases capital reserve by 14.85 million yuan, and reduces undistributed profit by 14.85 million yuan. Before the adjustment, attributable net profit was 4.5477 million yuan; after correction, it becomes a loss of 10.3023 million yuan. Deducted non-recurring profit is unaffected.