Wens Foodstuff Group restates H1 financials, reports profit surge

Wens Foodstuff Group recorded a net profit attributable to shareholders of 3.47 bn yuan for the first half of 2025, a 159.12% increase from the adjusted 1.34 bn yuan in the previous year. Total assets amounted to 90.77 bn yuan, with the asset-liability ratio decreasing to 50.57% from 53.37%. These financial adjustments result from a retrospective restatement due to a business combination under common control, specifically the acquisition of a 91.38% stake in Guangdong Yikang Ecological Environment Technology Group Co., Ltd. for 1.61 bn yuan, which subsequently became a wholly-owned subsidiary.

In its fundraising activities, Wens Foodstuff Group utilized 207.28m yuan from its 2011 IPO and 8.19 bn yuan from its 2021 convertible bond issuance by June 30, 2025. Unused funds amounted to 26.63m yuan and 1.22 bn yuan, respectively. The company also reported a decrease in the convertible bond's total amount from 7.71 bn yuan due to bond-to-share conversions totaling 28,900 shares. Additionally, the company is implementing a share repurchase program, buying back 10,924,700 shares for 181.17m yuan by June 30, 2025.