Dahu Aquaculture Co Ltd

Dahu Co. released its 2026 interim report, with net profit attributable to the parent company of 16.88 million yuan, an increase of 19.45 million yuan compared with the same period last year, achieving a turnaround from loss to profit. The company's total operating revenue was 434 million yuan, up 1.98 percent year-on-year; net cash inflow from operating activities was 56.01 million yuan, down 33.49 percent year-on-year. The company's latest asset-liability ratio was 46.37 percent, gross margin was 29.43 percent, return on equity was 2.07 percent, and diluted earnings per share was 0.04 yuan.

Data released by the National Bureau of Statistics on July 15 showed that in the first half of the year, the absolute retail sales of cigarette and alcohol products nationwide reached 354.7 billion yuan, up 13.2 percent year-on-year. In June alone, the absolute figure was 53.7 billion yuan, up 12.1 percent year-on-year. Boosted by this news, the A-share baijiu sector rose across the board that day. Gujing Gongjiu, Jinzhongzi Liquor, and Dahu Aquaculture hit the daily limit up. Luzhou Laojiao, Shanxi Xinghuacun Fenjiu, Shunxin Agriculture, and Jinshiyuan gained more than 5 percent. The sector's overall index rose 3.06 percent. However, the industry remains in a period of deep adjustment. As of July 15, about eight A-share listed baijiu companies had disclosed their first-half earnings forecasts. Except for Wuliangye, which is expected to report growth, the rest generally saw profit declines or losses. Tianyoude Liquor's net profit fell 76 to 84 percent year-on-year. Shunxin Agriculture's net profit fell 69.34 to 79.18 percent year-on-year. Jinzhongzi Liquor, Huangtai Liquor, Shuijingfang, and ST Spring are expected to report losses. Proactive destocking has become a common choice for liquor companies. Shuijingfang's channel inventory fell about 50 percent year-on-year. Shede Spirits controlled shipments to stabilize prices. Jiugui Liquor raised the strategic price of its 52-degree 500ml Neican liquor by 30 yuan per bottle and suspended shipments until August 15. Xiao Zhuqing, a Chinese liquor industry analyst, said consumers are shifting to affordable daily-drinking liquors priced under 100 yuan, and the premium on high-end famous brands is shrinking. Liquor companies need to face consumers directly to digest inventory.

Dahu Shares disclosed an earnings forecast, expecting to achieve a net profit attributable to shareholders of 15 million to 20 million yuan in the first half of 2026, compared with a loss of 2.57 million yuan in the same period last year, turning losses into profits year-on-year. Deducted non-recurring net profit is expected to be 9 million to 13 million yuan, compared with a loss of 4.54 million yuan in the same period last year. The company stated that the significant improvement in performance was mainly due to the steady increase in inpatient admissions and the continuous expansion of the inpatient business scale in the rehabilitation medical business. At the same time, through refined cost control across the entire process, costs were effectively reduced. Driven by both business growth and cost savings, the operating profit of the rehabilitation medical business increased significantly year-on-year.