New Hope Liuhe forms joint venture, expands hog farming in underdeveloped regions

New Hope Liuhe will invest 2.1 bn yuan, or 73.17%, in a new joint venture with Central Enterprise Rural Industry Investment Fund (700m yuan, or 24.39%) and Underdeveloped Areas Industrial Development Fund (70m yuan, or 2.44%). The venture, with a total registered capital of 2.87 bn yuan, will acquire three of New Hope Liuhe's existing subsidiaries and establish 16 new wholly-owned subsidiaries for hog farming. This initiative aligns with national rural revitalization strategies, focusing on an "enterprise + farmer" model for pig farming.

The newly formed joint venture will allocate no less than 770m yuan of its capital to support pig farming operations in designated counties, including facility upgrades and feed purchases. In a related announcement, New Hope Liuhe reported its October 2025 hog sales increased by 20.86% month-on-month and 34.44% year-on-year to 1.6851 million heads, generating revenue of 1.918 bn yuan.

Additionally, New Hope Liuhe plans to utilize up to 387m yuan of its idle raised funds to temporarily supplement working capital for a period not exceeding 12 months. This is expected to save approximately 5.805m yuan in financial expenses and will not affect the progress of its fundraising projects.