Muyuan Foods (002714) Q3 2025 earnings summary

Executive summary

• Revenue for the first nine months reached ¥111.79 billion, up 15.52% year-over-year, while Q3 revenue declined 11.48% compared to the same quarter last year.

• Net profit attributable to shareholders for the first nine months was ¥14.78 billion, a 41.01% increase year-over-year, but Q3 net profit dropped 55.98% year-over-year.

• Cash flow from operating activities for the first nine months was ¥28.58 billion, down 2.05% year-over-year.

Financial highlights

• Basic EPS for the first nine months was ¥2.74, up 41.24% year-over-year; Q3 EPS was ¥0.78, down 56.42% year-over-year.

• Gross margin and operating profit improved year-over-year for the nine-month period, but Q3 margins contracted sharply.

• Non-recurring losses for the first nine months totaled ¥694 million, mainly from asset disposals and offset by government subsidies.

Outlook and guidance

• Management highlighted increased sales volume in meat products and ongoing cost control, but noted market volatility and price pressure in Q3.