GUANGNAN (HOLD) expects a first quarter net profit attributable to shareholders to increase by no less than 242% year-on-year.

GUANGNAN (HOLD) (01203) announced that as of March 31, 2024, the unaudited comprehensive profit attributable to company shareholders is estimated at HK$9.65 million. It is expected that as of March 31, 2025, the unaudited comprehensive profit attributable to company shareholders for the three months will increase to not less than HK$33 million, with an increase of at least 242%. The announcement stated that the expected increase in profit is mainly due to the following factors: in the food and bio-business segment, benefiting from the year-on-year increase in pig prices in the first quarter of 2025, the performance improvement of the joint venture companies engaged in pig farming and sales, resulting in the joint venture companies turning losses into profits on a year-on-year basis; and in the manganese iron business segment, profit increased during the period through optimizing product marketing structure and strengthening cost reduction measures.