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Juneyao Health's first-half net profit attributable to parent was 4.5 million yuan, down 39.7% year-on-year
Juneyao Health released its 2026 half-year report. Net profit attributable to the parent in the first half was 4.5 million yuan, down 39.7% year-on-year. Operating revenue was 839 million yuan, up 9.4% year-on-year. Net profit attributable to the parent after deducting non-recurring items was 1.36 million yuan, down 18.1% year-on-year. Net operating cash flow was negative 109 million yuan, an improvement of 11.7% year-on-year. Earnings per share were 0.0075 yuan. In the second quarter, operating revenue was 408 million yuan, up 11.7% year-on-year, but the net loss attributable to the parent widened from 3.44 million yuan in the same period last year to 4.17 million yuan, and the net loss attributable to the parent after deducting non-recurring items widened from 5.37 million yuan to 6.19 million yuan. As of the end of the second quarter, total assets were 1.828 billion yuan, down 6.8% from the end of the previous year. Net assets attributable to the parent were 1.532 billion yuan, up 0.3% from the end of the previous year. The company said that, centered on its probiotic health science strategy, it continues to advance product innovation and is gradually shifting to a model combining direct sales and distribution, expanding modern retail and e-commerce channels.
财中社·1dRead more ▾
Raw milk cycle reversal signals emerge as dairy sector stocks surge
The dairy sector saw a broad rally on July 29, with Huanlejia hitting the 20 percent daily limit, Knight Dairy surging over 18 percent, Pinwo Food and Panda Dairy rising more than 10 percent, and JuneYao Health, Sanyuan Foods, and Liziyuan among multiple stocks hitting their daily limits. A research report from China Securities shows that the dairy cow herd stood at 5.772 million head in June, down 22,000 head month-on-month, maintaining a rapid pace of destocking. Recently, bulk milk prices have risen in many regions, and the interplay of beef and milk prices is driving a positive turn in the raw milk cycle. Kaiyuan Securities notes that from 2024 to 2025, the national dairy cow herd cumulatively destocked about 550,000 head, and by the end of the second quarter of 2026, the Holstein cow herd further declined to 5.794 million head, with the pace of capacity reduction accelerating. At the same time, yield per cow growth is slowing. In the first half of 2026, raw milk output rose 2.4 percent year-on-year, while dairy product output increased 6.0 percent. On the pricing front, bulk milk prices are leading the gains, with contract prices following. Bulk milk purchase prices in major producing areas have risen sharply, with current mainstream prices at 2.8 to 3.1 yuan per kilogram, and in tight supply areas reaching 3.2 to 3.5 yuan per kilogram. Contract milk prices have turned positive year-on-year. On July 24, the fresh milk price in major producing areas was 3.06 yuan per kilogram, up 0.3 percent month-on-month and 1.0 percent year-on-year, with clear bottoming signals. Aijian Securities points out that dairy products represent the clearest direction of improvement in fund holdings in the second quarter. Active equity funds' combined holdings of Yili Group, New Hope Dairy, Youran Dairy, and China Modern Dairy increased by 12.3 percent, 18.7 percent, 17.3 percent, and 17.8 percent quarter-on-quarter, respectively. Kaiyuan Securities believes that supply contraction, price stabilization, and initial profit verification are largely in place, and raw milk reversal signals are gradually emerging. The industry may be transitioning from a left-side bottoming phase to a right-side confirmation phase. The upstream segment will benefit first with significant earnings elasticity, with a focus on Youran Dairy. The downstream competitive environment is improving and leading companies are regaining market share, with attention on New Hope Dairy and Yili Group.
21世纪经济·29dRead more ▾