Want Want China Holdings Limited (0151) reported revenue of RMB11,107.8 million for the six months ended 30 September 2025, representing a 2.1% increase year-on-year. Gross profit stood at RMB5,131.7 million, down slightly by 0.2%, while operating profit was RMB2,260.7 million, an 11.0% decrease over the same period last year. Profit attributable to equity holders amounted to RMB1,717.4 million, showing a year-on-year decline of 7.8%. Basic and diluted earnings per share were RMB14.55 cents, a 7.8% drop compared to the same period in 2024.

Segment-wise, the rice crackers business grew 3.5% to RMB2,130.0 million, driven partly by new product launches that accounted for a double-digit share of segment revenue. Dairy products and beverages reached RMB5,941.3 million, a 1.1% decline year-on-year; within that sub-category, beverages increased significantly with strong performances in multiple new products. Snack foods rose 7.7% to RMB2,940.2 million, led by popsicles and candies, both benefiting from e-commerce and specialty snack retail channels.

Gross profit margin was 46.2%, lower by 1.1 percentage points year-on-year, partly due to increased costs for certain materials such as imported whole milk powder and palm oil. Distribution costs grew by 13.2% year-on-year to RMB1,549.9 million, largely reflecting higher advertising and promotion spending. Administrative expenses rose by 8.3% to RMB1,652.4 million, in part due to staffing adjustments following the establishment of multiple business units by product category. The income tax expense rate decreased to 23.0% from 25.7%.

As of 30 September 2025, the company held RMB14,986.9 million in cash and bank deposits (including long-term deposits), with total borrowings of RMB4,666.4 million. Short-term borrowings stood at RMB3,966.2 million, while long-term borrowings reached RMB700.2 million. The net gearing ratio remained in negative territory, supported by a strong net cash position.

According to the announcement, the company intends to continue optimizing product offerings, distribution strategies, and overall operational structures to adapt to changing market conditions. Management highlighted ongoing efforts to expand multiple sales channels, focus on product innovation, and enhance market coverage both domestically and overseas.