Guangdong Haid Group (002311) Q4 2025 earnings summary

Executive summary

• Achieved record-high total feed sales of 32.08 million tons in 2025, up 21% year-over-year, with external sales at 29.86 million tons, surpassing annual targets.

• Revenue grew 12.10% year-over-year to ¥128.47 billion, with net profit attributable to shareholders at ¥4.28 billion, down 4.97% from 2024.

• Domestic feed sales rose 20% year-over-year, while overseas feed sales surged 47%, reflecting rapid global expansion.

• Segment management restructured for specialization and efficiency, supporting high-quality growth and global competitiveness.

Financial highlights

• Operating income: ¥128.47 billion, up 12.10% year-over-year.

• Net profit attributable to shareholders: ¥4.28 billion, down 4.97% year-over-year.

• Basic EPS: ¥2.58, down 4.80% year-over-year.

• Gross margin for feed segment: 9.79%; animal health: 45.47%; breeding: 13.66%.

• Net cash flow from operating activities: ¥6.26 billion, down 21.71% year-over-year.

Outlook and guidance

• Medium-term goal to reach 51.5 million tons of feed sales by 2030.

• Continued investment in R&D and expansion of core businesses: feed, seedlings, and animal health.

• Focus on asset-light pig raising and factory-based shrimp farming to build unique competitive advantages.