HONWORLD GP (Lao Heng He) reported a RMB240.12 million net loss attributable to ordinary shareholders for the six months ended 30 June 2026, narrowing 4.6 % from the RMB251.68 million loss a year earlier.

Revenue fell 4.4 % year-on-year to RMB138.10 million, weighed down by intensified competition and weaker supermarket sales. Cooking wine remained the core driver, contributing 68.4 % of revenue, while soy sauce sales reached RMB14.40 million and accounted for 10.4 %.

Gross profit edged up 1.3 % to RMB42.60 million, and gross margin improved to 30.8 % from 29.1 % as the product mix tilted toward mid-to-high-end items and cost controls took effect. LBITDA narrowed to RMB126.85 million from RMB138.16 million. Basic loss per share came in at RMB0.41 versus RMB0.43.

Operating cash outflow totalled RMB7.93 million. Cash and cash equivalents stood at RMB13.72 million at period-end, while total interest-bearing bank and other borrowings rose to RMB4.01 billion. Net current liabilities widened to RMB3.85 billion, and the gearing ratio increased to 510.7 % from 468.5 % at year-end 2025.

Management highlighted ongoing initiatives in cost efficiency, digital channel expansion and healthy product development. Capital commitments amounted to RMB4.00 million, primarily for plant and machinery upgrades. No interim dividend was declared.