HK Stock Market Move | COFCO JOYCOME (01610) fell nearly 7% in the afternoon. Before the fair value adjustment of biological assets, the shareholders' loss was RMB 292 million.

COFCO JOYCOME (01610) fell nearly 7% in the afternoon, dropping 6.21% to HK$1.51 as of press time, with a turnover of HK$27.58 million. On the news front, COFCO JOYCOME announced in the afternoon that its annual operating income was RMB 18.579 billion, up 13.8% year-on-year, mainly due to growth in the aquaculture business. Before the fair value adjustment of biological assets, the group's net profit was a loss of RMB 290 million, compared to a profit of RMB 275 million in the same period in 2024. This was mainly due to a significant year-on-year decrease in the selling price of live pigs during the reporting period, which continued to operate at a low level, squeezing the profit margin of the pig farming business. Although there were some improvements in breeding costs during the reporting period, there were significant breakthroughs in the fresh food brand business and the effects of technology-driven efficiency were evident. However, the overall profit level decreased year-on-year.