Foshan Haitian Flavouring and Food Company Ltd. (“Haitian”) released its unaudited interim report for the six months ended 30 June 2026.

Revenue and Earnings • Consolidated revenue advanced 6.0% year-on-year (YoY) to RMB 16.15 billion. • Net profit attributable to shareholders increased 7.13% YoY to RMB 4.19 billion. • Net margin improved to 26.0%, up 0.3 percentage points. • Gross profit rose 8.5% to RMB 6.49 billion, with gross margin at 41.04%, a 0.92-point gain.

Segment Performance • Soy sauce remained the core contributor, generating RMB 8.30 billion (+4.6% YoY, 51.4% of total revenue). • Oyster sauce delivered RMB 2.57 billion (+2.6%). • Flavoured sauces recorded RMB 1.65 billion (+1.2%). • Specialty condiments and other products climbed 13.5% to RMB 2.84 billion. • “Others” revenue, mainly raw materials, packaging sales and logistics services, grew 18.6% to RMB 0.79 billion.

Cost Structure and Expenses • Cost of sales increased 4.4% to RMB 9.66 billion. • Selling and marketing expenses fell 4.1% to RMB 0.93 billion. • Administrative expenses rose 24.5% to RMB 0.40 billion, reflecting higher staff and lease costs. • R&D spending expanded 17.8% to RMB 0.49 billion, underscoring the group’s “technology-driven” strategy. • Finance costs dropped 67.3% to RMB 4.79 million after partial loan repayments.

Balance Sheet and Cash Flow • Cash and bank deposits stood at RMB 18.94 billion, down 23.0% from 31 December 2025 due in part to dividend payments and inventory unwinding. • Inventories decreased 8.3% to RMB 2.21 billion. • Interest-bearing borrowings rose to RMB 357.4 million (+98.3%), yet gearing remained low at 16.0%. • Net cash from operations reached RMB 1.22 billion; capex totaled RMB 0.54 billion, mainly for production upgrades.

Dividend • The Board did not propose an interim dividend for H1 2026.

Outlook and Strategy Management reiterated its focus on “customer satisfaction first,” dual development of core and emerging categories, and full-chain digitalisation. Haitian aims to leverage its strong cash position and low leverage to support R&D, capacity expansion, and overseas growth while navigating intensified competition and raw-material price volatility.