The company has announced a projected net profit attributable to its owners for the six-month period ending June 30, 2026, expected to be in the range of approximately RMB 90 million to RMB 130 million.

This represents a significant turnaround from the net loss attributable to owners of about RMB 378 million reported for the corresponding six-month period ended June 30, 2025.

The shift from a net loss to a net profit is attributed to the combined effect of several key factors.

These include improved operational efficiency in farming activities and an increase in the average selling price for beef cattle during the reporting period.

Additionally, a reduction in losses from changes in the fair value of other biological assets minus costs to sell, known as revaluation losses, contributed to the positive result.

For the current reporting period, the revaluation loss is anticipated to be between approximately RMB 60 million and RMB 110 million, a substantial decrease from the RMB 462 million recorded in the prior period.

This reduction is primarily due to a decrease in feed costs per kilogram of raw milk produced and an increase in the selling price of culled cattle.