HK Stock Market Move | YOURAN DAIRY (09858) rose more than 7%, with the impact of biological asset impairment reducing the apparent profit. The turning point is gradually releasing upward elasticity.

YOURAN DAIRY (09858) surged more than 7%, closing at a 7.04% increase to HKD 4.26 with a trading volume of 182 million Hong Kong dollars. In terms of news, YOURAN DAIRY's 2025 annual performance showed that the company achieved operating income of 25.674 billion RMB, a year-on-year increase of 4.51%. The net loss was 432 million RMB, a year-on-year decrease of 37.42%. Guotai Haitong pointed out that the company's net profit attributable to shareholders in 2025 was -432 million RMB, mainly affected by a 3.91 billion RMB year-on-year increase in impairment loss of biological assets to 4.312 billion RMB, primarily due to the increase in culling cows and the decrease in mother cow valuation; subsidy expenses decreased by 29.2% year-on-year to 2.29 billion RMB. The price of raw milk continued to stabilize, benefiting from the shortage of reserve cows in the supply side and weakening impact from imports, as well as the continuous release of deep processing capacity on the demand side, indicating a strong upward trend in milk prices in 2026. With the reversal of the meat and milk cycle, the company's profit elasticity is expected to gradually increase.