WH Group Subsidiary Shuanghui Development Sees H1 2026 Net Profit Edge 0.8% Lower Despite Double-Digit Volume Growth

Bulletin Express
08/28

WH Group Limited (WH Group) announced that its 70.33%-owned subsidiary, Henan Shuanghui Investment & Development Co., Ltd. (Shuanghui Development), filed unaudited interim results for the six months ended 30 June 2026 under China Accounting Standards.

Key Operating Highlights • External meat-product sales volumes rose 14.9% year on year to 1.80 million metric tons, reflecting solid demand momentum. • Total operating income slipped 1.1% to RMB28.18 billion, indicating a softer pricing environment. • Operating costs declined 3.4% to RMB22.71 billion, lifting gross profit to an estimated RMB5.38 billion and expanding gross margin to roughly 19.1% from 17.3% a year earlier. • Selling expenses climbed 20.8% to RMB1.20 billion, partially offsetting the cost-of-sales benefit.

Earnings Performance • Total profit decreased 0.8% year on year to RMB3.06 billion. • Net profit attributable to owners of Shuanghui Development slipped 0.8% to RMB2.31 billion, translating into basic and diluted earnings per share of RMB0.6655. • Net margin held broadly flat at approximately 8.2%.

Balance-Sheet Movements (30 June 2026 vs. 1 January 2026) • Total assets expanded 3.6% to RMB40.87 billion, driven mainly by a RMB1.28 billion inventory build and a RMB2.05 billion increase in other current assets. • Cash and bank balances fell RMB1.06 billion to RMB3.91 billion. • Short-term borrowings rose 21.2% to RMB11.78 billion, lifting total liabilities to RMB19.76 billion (+10.6%). • Equity attributable to owners contracted 2.2% to RMB20.90 billion as retained earnings declined by RMB0.47 billion following dividend payouts.

Accounting Framework The reported figures are prepared under China Accounting Standards for Business Enterprises. WH Group’s consolidated results are compiled under IFRS and will incorporate relevant adjustments when reported at the group level.

The complete Shuanghui Development interim report is available on the Shenzhen Stock Exchange website.

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