COFCO JOYCOME (01610) announced its annual results for the period ending December 31, 2025. Before the fair value adjustment of biological assets, the group achieved operating revenue of RMB 185.79 billion, representing a year-on-year increase of 13.8%. The loss attributable to owners of the company was RMB 292 million, compared to a profit of RMB 260 million in the same period last year. The basic loss per share was RMB 0.0637.
The loss before the fair value adjustment of biological assets for the year was RMB 290 million. The primary reason for the loss attributable to owners before this adjustment was a significant year-on-year decline in live hog sales prices, which remained persistently low. This severely squeezed profit margins in the hog farming business. Although farming costs improved during the reporting period, the fresh branded business saw major breakthroughs, and technology-driven initiatives showed some effect, the overall profitability still decreased compared to the previous year.
The hog farming division gradually reduced total farming costs through measures such as accelerating herd rotation, optimizing production structures, upgrading disease prevention systems, and implementing specialized cost-reduction projects. The division also accelerated the application and commercialization of new productive forces, with the effects of digitalization and breeding improvements gradually becoming apparent.
The feed division strengthened collaboration with the farming division on swine feed and with Mengniu on ruminant feed, steadily increasing sales volume. It enhanced the accuracy of market forecasting and effectively managed procurement costs. Leveraging the newly established Feed Professional Management Committee, it accelerated R&D innovation and strengthened market competitiveness, achieving a divisional profit of RMB 158 million.
The fresh pork division focused on its core Flaxseed Pork product, continuously enriching its product portfolio. By driving efforts both online and offline, it further strengthened channel deployment, consolidated its market position, and enhanced brand power. Sales of branded boxed pork increased by 46.2% year-on-year, while sales of Flaxseed Pork surged by 135.4%. The division reduced its loss by RMB 51.65 million compared to the previous year.
The meat products and meat import division deepened its integrated industrial and trading business model. It leveraged its strengths in market analysis and supply chain capabilities to deepen downstream channels, improve service capabilities for fast-food systems, and build a value chain for imported beef.