Jiangsu Provincial Agricultural Reclamation and Development Co Ltd

At its 2026 interim results briefing held on September 28, Suke Agricultural Development responded to investor questions about the divergence between record summer grain output and a sharp profit decline, cash flow recovery, and market value management. In the first half of 2026, the company's total summer grain output reached 1.401 billion jin, a record high, and its seed business completed a 1 billion yuan capital increase and acquired Dafeng Huafeng Seed. However, overall operating revenue fell 5.59% year on year to 4.332 billion yuan, net profit attributable to the parent dropped sharply by 32.48% to 144 million yuan, and net profit attributable to the parent excluding non-recurring items was 116 million yuan, down 33.85% year on year. Net cash flow from operating activities was only 167 million yuan, a year-on-year plunge of 76.84%. The company said the decline in cash flow was mainly due to increased procurement and stocking of agricultural inputs and slower sales of agricultural product inventories compared with the same period last year. Inventory at the end of June increased by a net 385 million yuan from the beginning of the year, which had little to do with the narrowing gross margin of inventory products. The company said it is working to reverse performance through measures such as optimizing product and order structures, reducing costs by relying on smart agriculture and high-standard farmland, strengthening working capital management, and advancing new variety research and development. However, because agriculture is constrained by grain price cycles and climate, it is difficult to give a precise timing for a performance turnaround. The company also launched an interim dividend plan of 0.4 yuan per 10 shares, accounting for 38.29% of net profit attributable to the parent, and said changes in the number of shareholders were formed by secondary market trading, and that it would not introduce special market value management tools targeting changes in shareholding structure.

Suken Agricultural Development released its 2026 interim report, with net profit attributable to the parent company of 144 million yuan, a decrease of 32.48% compared with the same period last year. The company's total operating revenue was 4.332 billion yuan, down 5.59% year-on-year; net cash inflow from operating activities was 167 million yuan, down 76.84% year-on-year. The company's latest asset-liability ratio was 46.48%, gross margin was 11.31%, ROE was 2.00%, and diluted earnings per share was 0.10 yuan.

Su Ken Nong Fa disclosed its 2026 half-year performance flash report. During the period, it achieved operating revenue of 4.332 billion yuan, down 5.59% year-on-year. Net profit attributable to shareholders of the listed company was 142 million yuan, down 33.32% year-on-year. The decline in performance was mainly due to the impact of last year's climate, which narrowed the gross margin of rice and wheat in the planting segment's opening inventory. During the reporting period, agricultural product prices fluctuated within a low and narrow range, further compressing the overall gross margin.