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Tianyuan Pet's first-half net profit falls 46%, dragged by exchange losses and lower export gross margin
Tianyuan Pet released its 2026 interim report on the evening of August 27. Operating revenue was 1.578 billion yuan, up 9.92% year on year. Net profit attributable to the parent company was 20.12 million yuan, down 46.28% year on year. Net profit attributable to the parent company excluding non-recurring items was 15.93 million yuan, down 47.71% year on year. Net operating cash flow was 17.54 million yuan, up 115.23% year on year. The company said the decline in net profit was mainly due to higher exchange gains and losses caused by yuan appreciation and a lower export gross margin. Financial expenses surged 266.12% year on year to 30.206 million yuan, while income tax expenses rose 257.26%. In addition, the company made impairment provisions of 10.06859 million yuan and reversed 804,870 yuan, reducing total profit by 9.26372 million yuan.