Zhengbang Technology H1 2026 Revenue Up 12.9%, Net Loss RMB736 Million

Zhengbang Technology released its 2026 interim report after market close on August 24. During the reporting period, the company achieved operating revenue of RMB7.72 billion, up 12.90% year-on-year; net profit attributable to shareholders of the listed company was -RMB736 million, a decrease of 465.21% from RMB202 million in the same period of 2025, turning from profit to loss; net profit attributable to shareholders after deducting non-recurring gains and losses was -RMB750 million, down 1354.02% year-on-year; basic earnings per share was a loss of RMB0.0796. The company plans not to distribute cash dividends, not to issue bonus shares, and not to convert capital reserve into share capital.

By business segment, the feed business generated revenue of RMB3.421 billion, up 28.47% year-on-year; the breeding business generated revenue of RMB4.094 billion, up 0.42%; the veterinary drug business generated revenue of RMB65 million, up 2.84%. Feed business accounted for 44.31% of operating revenue, and breeding business accounted for 53.04%. During the reporting period, the company's pig breeding segment sold 5.5821 million pigs, with pig sales revenue of RMB4.094 billion. Affected by fluctuations in the pig market, the average selling price of commercial pigs was RMB5.23 per jin, down RMB2.04 per jin from the same period in 2025, and the profit of the pig breeding business declined year-on-year.

On expenses, the company's selling expenses decreased 18.05% year-on-year, and administrative expenses decreased 30.02%, mainly due to improved per-capita efficiency and asset revitalization, leading to corresponding expense reductions. Net cash flow from operating activities was -RMB407 million, down 2153.03% year-on-year, mainly due to the decline in the pig market and operating losses. As of the end of the reporting period, the company's total assets were RMB18.919 billion, and net assets attributable to shareholders of the listed company were RMB10.147 billion.

The company's controlling shareholder is Shuangbaotai Agriculture. During the reporting period, while maintaining independence, the company carried out in-depth collaboration with the controlling shareholder in areas such as cultural integration, business synergy, management empowerment, and team building. As of August 24, 2026, the company's share price had fallen 9.57% cumulatively since the beginning of 2026.