Haitian Food reports strong interim growth, announces A-share plan

Foshan Haitian Flavouring & Food Company Ltd. achieved a robust performance in the first half of 2025, with revenue climbing to RMB15,229.9 million, a 7.6% year-on-year increase, and net profit attributable to shareholders rising 13.3% to RMB3,914.0 million. This growth was driven by strong sales across its condiment categories, including a 9.1% increase in soy sauce products and a 12.0% rise in flavored sauce. The company also benefited from an H-share listing on the Hong Kong Stock Exchange on June 19, 2025, raising net proceeds of approximately RMB9,542.6 million, with an additional RMB398 million from an over-allotment option exercised on July 21, 2025.

In line with its strategic growth, Haitian Food adopted a 2024-2028 A-Share Employee Stock Ownership Scheme, approved by its board on September 19, 2024. This scheme aims to incentivize core management and key employees, with a total of 5,000,000 A-shares allocated from repurchased shares at an average price of RMB36.87 per share. The scheme, which has a 12-month lock-up period, is contingent on achieving a 2026 net profit growth rate of not less than 11% compared to 2024.

The company's strong financial position is further highlighted by a 35.7% increase in cash and bank deposits to RMB29,998.7 million as of June 30, 2025, and a 50.2% reduction in interest-bearing bank loans.