Tech-bank Food released its 2026 half-year report, with net profit attributable to the parent company showing a loss of 1.54 billion yuan, down 538.3% year on year. Operating revenue was 3.66 billion yuan, down 22.1% year on year, while net profit attributable to the parent company excluding non-recurring items showed a loss of 1.67 billion yuan, down 797.1% year on year. Hog market prices continued to fall, with the average selling price of commercial hogs down 30.78%. At the same time, the company made a large inventory write-down loss of 1.089 billion yuan, and made bad debt provisions of about 97.08 million yuan due to the bankruptcy restructuring of its subsidiary Fuyang Nongfa, causing net profit to swing from profit to loss.
Ningbo Tech-Bank Co LtdNet profit swung to a loss of 1.54 billion yuan, down 538.3% YoY, with revenue down 22.1% and large inventory write-downs.
