COFCO JOYCOME (01610) released its annual performance, with a pre-adjustment fair value of biological assets resulting in a loss of 292 million yuan for shareholders, a turnaround from profit to loss compared to the previous year.

COFCO JOYCOME (01610) announced its annual performance for the year ending December 31, 2025. Before the fair value adjustment of biological assets, the group achieved operating income of 18.579 billion yuan, an increase of 13.8% year-on-year. The company's net loss attributable to owners was 292 million yuan, compared to a profit of 260 million yuan in the same period last year, with a basic loss per share of 0.0637 yuan. The loss before the fair value adjustment of biological assets for the year was 290 million yuan, and the net loss attributable to owners before the fair value adjustment of biological assets was 292 million yuan. This was mainly due to a significant year-on-year decrease in the selling price of live pigs during the reporting period, which continued to operate at a low level. The profit margin of the pig farming business was squeezed. Although there was some improvement in breeding costs during the reporting period, the fresh meat brand business achieved significant breakthroughs, the effects of technological drive became apparent, but the overall profit level decreased year-on-year. The pig farming division gradually reduced the total cost of breeding through measures such as accelerating population rotation, optimizing production structure, upgrading the epidemic prevention system, and conducting special research on breeding costs. At the same time, efforts were made to accelerate the application and transformation of new productive forces, and the effects of intelligent breeding and breeding were gradually apparent. The feed division strengthened its synergy with the pig farming division and with Mengniu's ruminant feed to steadily increase sales, improve market judgment accuracy, effectively control procurement costs, and enhance market competitiveness. The performance of the division was 158 million yuan. The fresh pork division focused on the core product of flaxseed pork, continued to enrich the product matrix, and jointly strengthened channel layout with Wuxi Online Offline Communication Information Technology Co., Ltd. to further consolidate its market position, enhance brand power. The sales of boxed brand pork increased by 46.2% year-on-year, and the sales of flaxseed pork increased by 135.4% year-on-year, resulting in a decrease in losses of 51.65 million yuan year-on-year. The meat product and meat import division deepened the business model combining trade and industry, leveraging market analysis and supply chain advantages, deepening downstream channels, enhancing fast food system service capabilities, and building an import beef value chain.