On the first half of 2024, Dachan Food (03999.HK) announced that the company's revenue was RMB 2,794,444 thousand, down by 11.1% compared to the same period last year. The shareholder's net profit was RMB 31,575 thousand, down by 22.5% from the same period last year.

The main reason for the year-on-year decline in performance is that due to the rapid development of the broiler industry in recent years, the domestic chicken supply has increased significantly, but the growth rate of consumer demand has been weak, resulting in a market supply-demand imbalance and a year-on-year decrease in chicken prices. However, the company's domestic processed food business continued its good growth trend in the first half of the year, with revenue and gross profit increasing by 11.9% and 21% year-on-year respectively. Benefiting from effective cash flow management measures, the company's net cash inflow from operating activities in the first half of the year was RMB 0.124 billion yuan, providing funding support for the continued expansion of food production capacity.