Cofco Joycome Foods Limited · HKEX:1610
Cofco Joycome Foods — H1 2025 Earnings Presentation
21 slides from Cofco Joycome Foods's earnings presentation, August 2025
Slide 1: 2025 Interim Results Presentation
2025 Interim Results Presentation August 2025 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 1
Slide 4: 2025H1 Key Operating Metrics
2025H1 Key Operating Metrics Key Operating Metrics 2025H1 2024H1 Change Hog production volume (’000 heads) 2,898 1,584 83.0% Average selling price of finishing hogs (RMB/kg) 14.59 15.28 -4.5% Fresh pork sales volume (’000 tons) 150 120 25.1% Branded small-packed fresh pork sales volume 27,792 18,968
Slide 5: 2025H1 Financial Metrics
2025H1 Financial Metrics Key Financial Metrics 2025H1 2024H1 Change Revenue (RMB MM) 8,963 7,483 19.8% Profit/Loss for the period (before adj.) (RMB 203 -315 Up 518 MM) Including: profit/loss attributable to the owners of the Company (before adj.) 198 -322 Up 520 (RMB MM) Profit/Loss for the period
Slide 6: Feed production rises while feed ingredient prices diverge
Feed production rises while feed ingredient prices diverge: corn bottoms out and rebounds, soybean meal sees volatile fluctuations National Industrial Feed Production (MM tons) 180.00 158.50 160.00 145.39 140.00 120.00 100.00 2024H1 2025H1 • In the first half of 2025, feed production in China grew
Slide 7: Hog prices experienced volatile downward movements but remained above RMB14/kg
Hog prices experienced volatile downward movements but remained above RMB14/kg overall. Chinese Hog Prices（RMB/kg） 20 2023 2024 2025 18 16 14 12 w01 w05 w09 w13 w17 w21 w25 • In the first half of the year, hog prices showed a downward trend. At the beginning of the year, prices saw a slight increa
Slide 8: 2025H1 Business Highlights
2025H1 Business Highlights 1 Implementing targeted initiatives to cut production cost 2 Vigorously develop new-quality productivity 3 Strengthen core competitiveness in feed business 4 Fresh meat business achieves significant breakthrough 5 Deepen the integration of beef processing and trade 6 Estab
Slide 9: Implementing targeted initiatives to cut production cost
1 Implementing targeted initiatives to cut production cost Breeding Efficiency Improvement: In the first half of the year, operations remained stable overall, with full and rational utilization of production capacity. We continued implementing herd rotation, advanced the adoption of an efficient b
Slide 10: Vigorously develop new quality productivity
2 Vigorously develop new quality productivity Genome Breeding: Leveraging genome breeding and integrated production platform, we significantly increased gene chip testing volume, enhancing the accuracy of breeding values for key traits. In Jilin—the pioneering region for genome breeding— producti
Slide 11: Strengthen core competitiveness in feed business
3 Strengthen core competitiveness in feed business The synergistic effect has been significantly enhanced, with "high-quality products, premium services, high efficiency, and low costs" strengthening our core competitiveness. Synergy Advantage: Internal synergy in pig feed volume increased signific
Slide 12: Fresh meat business achieves significant breakthrough
4 Fresh meat business achieves significant breakthrough Brand drives comprehensive Linseed-fed pork powers brand-specific advancements breakthrough Fresh pork 2.54billion RMB business revenue +21.1% YOY Branded 0.79billion RMB Covering key cities in Beijing, business revenue Shanghai, Guangzhou, She
Slide 13: Deepen the integration of beef processing and trade
5 Deepen the integration of beef processing and trade Meat Import：Strengthening market analysis and further promoting downstream channels to build a beef value chain In the first half of the year, under the circumstance where the national beef import volume declined, the Company accurately judged th
Slide 14: Establish a full-chain ecological recycling model
6 Establish a full-chain ecological recycling model Farming + Breeding contributing to Circular Development •Implementing Region-Specific Strategies: Developing Tailored Integrated Farming Model Parks Across Regional Operations. By integrating crop-livestock farming, utilizing waste resources, and
Slide 15: Content
Content Chapter 1 Business Overview Chapter 2 Financial Overview Chapter 3 Strategy and Outlook 13
Slide 16: 2025H1 Financial Highlights
2025H1 Financial Highlights 1 Revenue amounted to RMB8,963 million The expense ratios decreased，which is attributed to expense control and 2 efficiency improvement. The asset-liability ratio remained relatively stable. Affected by the 3 payment for the acquisition of COFCO Jiahua during the period,
Slide 17: Revenue amounted to RMB8,963 million
1 Revenue amounted to RMB8,963 million Hog production COFCO Feed (RMB MM） (RMB MM） • In 2025H1，the processed feed sales vulume of • In 2025H1, hog production volume was 2,898 COFCO Feed was 958 thousand tons, increased by thousand heads 4,494 1.6% year-on-year 4,000 4,000 3,247 3,127 2,663 2,000 2,0
Slide 18: The expense ratios decreased due to expense control and efficiency improvement
The expense ratios decreased，which is attributed to expense 2 control and efficiency improvement. Selling expenses & Administrative expenses & Financial expenses & Selling expense ratio Administrative expense Ratio Financial expense ratio (RMB MM） (RMB MM） (RMB MM） 500 500 4.50% 4.00% 100.00 1.00% 4
Slide 19: Net debt increased year-on-year due to acquisition of COFCO Jiahua
Affected by the payment for the acquisition of COFCO Jiahua 3 during the period, net debt increased year-on-year Total assets and Asset-liability ratio Net debt to equity ratio (RMB MM) (RMB MM) 30,000 70.0% 15,000 60.0% 52.9% 53.2% 75.8% 25,000 13,000 50.0% 50.0% 52.8% 20,000 20,357 21,168 40.0% 11
Slide 20: Content
Content Chapter 1 Business Overview Chapter 2 Financial Overview Chapter 3 Strategy and Outlook 18
Slide 21: Strategy and Outlook
Strategy and Outlook 1 End-to-End value chain cost governance • Promote all-factor, all-process, and all-staff participation in cost reduction, establishing targeted optimization initiatives, and building sustainable cyclical cost competitiveness. 2 Resolutely propel technological innovation transfo