Tangrenshen Group Co Ltd

Tangrenshen released its 2026 interim report, with total operating revenue of 10.883 billion yuan, down 12.71% year-on-year; net profit attributable to the parent company was negative 1.046 billion yuan, with the loss widening by 986 million yuan compared with the same period last year. Net cash outflow from operating activities was 66.2416 million yuan, down 110.03% year-on-year. The company's asset-liability ratio rose to 71.10%, gross margin fell to 2.10%, ROE was negative 28.03%, and diluted earnings per share was negative 0.74 yuan. The number of shareholders was 71,200, and the top ten shareholders held 24.29% of total share capital.

Tangrenshen has released its July hog sales briefing, reporting sales volume of 402,300 hogs for the month, up 14.42% year-on-year, but total sales revenue came to 311 million yuan, down 47.20% year-on-year. The company noted that the significant year-on-year decline in sales revenue was mainly due to fluctuations in the hog market and adjustments to its slaughter structure. The company had previously forecast a net loss attributable to the parent of 850 million to 1.05 billion yuan for the first half of 2026, a record high for the same period since listing, primarily due to a roughly 27.5% year-on-year drop in the average selling price of fattened hogs and inventory write-down provisions.

Tangrenshen disclosed its earnings forecast, expecting a net loss attributable to shareholders of 850 million to 1.05 billion yuan in the first half of 2026, compared with a loss of 59.9246 million yuan in the same period last year. The net loss after deducting non-recurring items is expected to be 800 million to 980 million yuan, compared with a loss of 58.9287 million yuan a year earlier. The company stated that although the cost of pig farming decreased year-on-year, the pig farming business suffered a significantly larger loss year-on-year due to the industry cycle downturn and a roughly 27.5 percent year-on-year decline in the average selling price of fattened pigs. At the same time, the company made inventory write-down provisions for live pigs on hand.

Tangrenshen announced that its total hog sales revenue in June reached 302 million yuan, down 11.13% month-on-month and down 56.78% year-on-year. Hog sales volume for the month was 358,200 head, down 9.26% month-on-month and down 13.3% year-on-year. The company stated that the significant year-on-year decline in hog sales revenue was mainly affected by fluctuations in the hog market and adjustments to the slaughter structure.