China Modern Dairy Holdings Ltd. (Stock Code: 1117) disclosed the unaudited consolidated financial data of its non-wholly owned subsidiary Modern Farming (Group) Co., Ltd. for the nine months ended 30 September 2025, prepared under PRC Generally Accepted Accounting Principles. Modern Farming previously issued RMB200 million in short-term debentures in January 2025 and RMB300 million in medium-term notes in April 2025.

Modern Farming recorded approximately RMB9.35 billion in operating income, alongside total operating costs of around RMB7.08 billion. After factoring in taxes, administrative and financial expenses, and substantial fair value losses, the enterprise registered a net loss of roughly RMB1.02 billion for the reporting period. As of 30 September 2025, total assets reached nearly RMB33.17 billion, total liabilities stood at about RMB22.09 billion, and total owners’ equity amounted to around RMB11.08 billion. These figures reflect Modern Farming’s standalone performance and do not represent the consolidated operations of China Modern Dairy and its other subsidiaries. Shareholders and potential investors are advised to interpret this information with caution.