Suke Agricultural Development Reports 30% Net Profit Decline in H1

Suke Agricultural Development, listed on the Shanghai Stock Exchange under ticker 601952.SH, reported its first half of 2026 financial results. Revenue for the period was approximately $643.3 million, down 5.59% year-over-year. Net profit attributable to shareholders fell by over 30%, reaching around $21.4 million.

The company cited lower agricultural product prices and reduced sales volumes as primary factors contributing to the decline in revenue. Net cash flow from operating activities decreased by a significant 76.84%, amounting to approximately $82.4 million, largely due to increased sales of inventory wheat in the prior-year period and higher input costs this time around.

Despite these challenges, Suke Agricultural Development's agricultural production segment demonstrated steady growth, with summer grain output reaching a record 1.401 billion jin in the first half. Wheat yield on self-owned bases reached 1,271 jin per mu, while barley yield hit 1,307 jin per mu.

The company completed a $148.5 million external capital raise and strategic investor introduction during the reporting period. It also acquired a 51% stake in Jiangsu Dafeng Huafeng Seed, expected to bolster its presence in the seed industry.