COFCO Joycome (01610) has announced that the group expects to report an attributable loss to owners of the company, before fair value adjustment of biological assets, of approximately RMB 230 million to RMB 350 million (unaudited) for the 2025 financial year. This compares to an attributable profit of approximately RMB 259 million for the same period last year, before adjustment. The board attributes the shift from profit to loss, before adjustment, primarily to the following factors: a significant year-on-year decline in hog selling prices during the period, which persisted at low levels, squeezing profit margins for the breeding business. Although breeding costs saw some improvement, the fresh branded business achieved a major breakthrough, and technology-driven initiatives showed some effect, the overall profitability level decreased compared to the previous year.