Guangnan( Group)(01203.HK): Net profit is expected to decrease by approximately 21% to no less than approximately HKD 111 million in the 2025 fiscal year.

Gelonghui, March 3 — Guangnan (Group) (01203.HK) announced that, based on the company’s preliminary review of the unaudited consolidated management accounts for the year ending December 31, 2025, and calculated using the audited consolidated profit attributable to owners of the company of HKD 141 million for 2024, the unaudited consolidated profit attributable to owners of the company is expected to decrease by approximately 21% to no less than HKD 111 million. The expected decrease in unaudited consolidated profit attributable to owners of the company is mainly due to the following factors:

(i) The slowdown in performance of the joint venture involved in live pig breeding and sales, affected by the pig price decline in the third quarter of 2025; the group’s share of joint venture profits decreased compared to 2024; (ii) The food wholesale business was impacted by challenges in the domestic economic environment, leading to an expected increase in credit impairment losses related to receivables from the business compared to 2024; and (iii) In 2024, the company completed liquidation of the joint venture—Huanglong Food Industry Co., Ltd.—and recorded liquidation gains. No such gains are expected in 2025. However, the tinplate business increased its profit year-over-year through expanding exports, optimizing product marketing structure, and strengthening cost reduction measures, offsetting part of the profit decline mentioned above.