Cofco Joycome Foods Limited · HKEX:1610
Cofco Joycome Foods — H1 2026 Earnings Presentation
21 slides from Cofco Joycome Foods's earnings presentation, August 2026
Slide 1: 2026 Interim Results Presentation
2026 Interim Results Presentation August 2026 1
Slide 2: Disclaimer
Disclaimer By participating in the meeting covering this presentation, or by reading the materials related to this presentation, you agree to be bound by the following restrictions: • The information contained in this presentation was prepared by COFCO Joycome Foods Limited(the “Company”, together w
Slide 3: Content
Content Chapter 1 Business Overview Chapter 2 Financial Overview Chapter 3 Strategy and Outlook 2
Slide 4: 2026H1 Key Operating Metrics
2026H1 Key Operating Metrics Key Operating Metrics 2026H1 2025H1 Change Average selling price of finishing hogs (RMB/kg) 10.27 14.59 -29.6% Fresh pork sales volume (’000 MT) 197 150 +31.0% Branded small-packed fresh pork sales volume (’000 boxes) 37,548 27,792 +35.1% Ratio of revenue from branded bu
Slide 5: 2026H1 Financial Metrics
2026H1 Financial Metrics Key Financial Metrics 2026H1 2025H1 Change Revenue (RMB MM) 8,736 8,963 -2.5% Profit/Loss for the period (before adj.) (RMB -1,095 203 Down 1,298 MM) Including: profit/loss attributable to the owners of the Company (before adj.) -1,089 198 Down 1,288 (RMB MM) Profit/Loss for
Slide 6: Feed production rose while feed ingredient prices diverged
Feed production rose while feed ingredient prices diverged: corn fluctuated upward, while soybean meal rose before declining National Industrial Feed Production (MM MT) 180.0 168.5 158.5 160.0 140.0 120.0 100.0 2025H1 2026H1 • In the first half of 2026, feed production in China grew slightly YoY. Ac
Slide 7: Hog prices declined, then bottomed out before gradually stabilizing
Hog prices declined, then bottomed out before gradually stabilizing, with an average price of RMB 10.4/kg in the first half of 2026. Chinese Hog Prices（RMB/kg） 22 2024 2025 2026 20 18 16 14 12 10 8 w01 w05 w09 w13 w17 w21 w25 w29 w33 W37 W41 w45 w49 • In the first half of 2026, hog prices exhibited
Slide 8: 2026H1 Business Highlights
2026H1 Business Highlights 1 Hog production: full-effort cost reduction 2 Effectively boost tech innovation & commercialization of research outcomes 3 Feed: procurement-sales-R&D synergy to strengthen core competitiveness 4 Fresh pork: breakthrough to profitability Processed meat: integrate R&D-prod
Slide 9: Hog production: full-effort cost reduction
1 Hog production: full-effort cost reduction Procurement: Leveraging the established centralized procurement of feed ingredients, veterinary drugs and vaccines, we expanded the scope to include additives, consumables, logistics, etc., effectively driving down purchase prices and achieving significan
Slide 10: Effectively boost tech innovation & commercialization of research outcomes
Effectively boost tech innovation & commercialization of 2 research outcomes Innovation System: Established the Joycome Research Institute, comprising six centers including Hog Breeding, Animal Nutrition, Animal Health, Meat Product Innovation, etc. Deepened cooperation with universities and researc
Slide 11: Feed: procurement-sales-R&D synergy to strengthen core competitiveness
Feed: procurement-sales-R&D synergy to strengthen core 3 competitiveness Raw Material Procurement: Leveraging a comprehensive market intelligence system, we thoroughly analyzed corn and soybean meal price trends, managed purchasing pace, and effectively controlled feed ingredient procurement cos
Slide 12: Fresh pork: breakthrough to profitability
4 Fresh pork: breakthrough to profitability Brand drives comprehensive Linseed-fed pork powers brand-specific advancements breakthrough Fresh pork RMB24.42 million business results Achieve profitability Branded 0.87billion RMB business revenue Deepen consumer Achieve B2B account Expand and enrich +9
Slide 13: Processed meat: integrate R&D-production-sales; new capacity ramps up steadily
Processed meat: integrate R&D-production-sales; new capacity 5 ramps up steadily Build an integrated R&D-production-sales platform; strengthen flagship products; expand into new channels; ensure stable operation of new capacity. • Scenario-based product development: • Customized new products for bre
Slide 14: Meat Import: upgrade business model to build sustainable meat value chain
Meat Import: upgrade business model to build sustainable 6 meat value chain • Accurately assessed market trends, controlled risks, and enhanced profitability. Segment results reached RMB 24.03 million in the first half of 2026, up 52.1% year-on-year. • Upgraded business model: • Continued to transfo
Slide 15: Practice ESG principles and promote agricultural industrialization
7 Practice ESG principles and promote agricultural industrialization Farming + Breeding contributing to circular development •Established and refined the unique ecological recycling green model that integrates “Feed Manufacturing–Hog Farming–Waste Treatment–Biogas Energy Generation/Heat Supply–Manu
Slide 16: Content
Content Chapter 1 Business Overview Chapter 2 Financial Overview Chapter 3 Strategy and Outlook 15
Slide 17: 2026H1 Financial Highlights
2026H1 Financial Highlights 1 Revenue amounted to RMB8,736 million Driven by progress in breeding R&D and increased brand 2 investment, R&D expenses and selling expenses rose year-on- year; bank borrowings expanded, with finance costs also rose year-on-year. 16
Slide 18: Revenue amounted to RMB8,736 million
1 Revenue amounted to RMB8,736 million Hog production COFCO Feed (RMB MM） (RMB MM） • In 2026H1，the processed feed sales volume of • In 2026H1, hog production business realized an COFCO Feed was 1,057 thousand MT, increased revenue of RMB 4,232 million by 10.3% year-on-year 4,000 6,000 3,336 4,493 4,
Slide 19: Selling, administrative expenses and finance costs
Driven by progress in breeding R&D and increased brand investment, R&D expenses 2 and selling expenses rose year-on-year; bank borrowings expanded, with finance costs also rose year-on-year. Selling and distribution Expenses/ Administrative and other operating expenses Finance Costs (RMB MM) (RMB MM
Slide 20: Content
Content Chapter 1 Business Overview Chapter 2 Financial Overview Chapter 3 Strategy and Outlook 19
Slide 21: Strategy and Outlook
Strategy and Outlook 1 Continue to deepen cost control across the entire value chain • Advance nine special cost reduction initiatives in the hog production segment, including health management, feed formula optimization, feed conversion ratio, precision feeding, and manpower efficiency; Implement t