AustAsia Group reported revenue of RMB 1.73 billion for the six months ended 30 June 2026, a 1.6% increase year on year. Gross profit jumped 30.5% to RMB 386.19 million, lifting the gross margin to 22.4% from 17.4% a year earlier.

The Group swung to a net profit attributable to shareholders of RMB 108.03 million, reversing a RMB 377.78 million loss in the prior-year period. Management cited improved farming efficiency, higher average beef prices and an 84.0% reduction in fair-value losses on biological assets (RMB 74.02 million vs. RMB 462.43 million) as key drivers.

Cash EBITDA rose 17.3% to RMB 403.36 million, while profit before biological-asset revaluation more than doubled to RMB 182.46 million. Operating cash flow reached RMB 416.50 million; after RMB 248.49 million of investing outflows and RMB 223.10 million of financing outflows, cash and equivalents stood at RMB 286.18 million.

Total interest-bearing borrowings declined to RMB 2.82 billion, lowering the gearing ratio to 123% from 131% at end-2025. Net current liabilities widened to RMB 1.08 billion.

Operationally, annualised milk yield per cow edged up 0.7% to 14.2 tons. Dairy cow inventory fell 2.6% to 114,421 head, while beef cattle inventory expanded 20.1% to 30,878 head.

During the period AustAsia acquired 60% of Inner Mongolia Chifeng Boyuan Cattle Breeding for RMB 12.00 million, adding livestock assets valued at RMB 20.34 million and recognising negative goodwill of RMB 0.20 million. Non-controlling interests contributed a RMB 9.67 million capital injection.

Following period-end, the company granted 4.08 million share options to senior management and directors on 29 July 2026 under its 2024 share option scheme.

The Board did not declare an interim dividend for 1H 2026.