← Hunan Xiangjia Animal Husbandry overview

Hunan Xiangjia Animal Husbandry vs Thai Union Feedmill PCL: why the prices moved differently

Weekly · monthly · quarterly news summaries, side by side in time

Hunan Xiangjia Animal Husbandry Co (002982.CS)

Q3 2026
▲2▼2

Xiangjia swings to loss as poultry and hog prices stay weak

  • First-half loss on weak poultry and hog prices Xiangjia expects and then confirms a first-half 2026 net loss of about 12 million yuan, versus a profit a year earlier. Revenue rose 8.57%, but lower live poultry and hog selling prices squeezed margins, and hog gross margin fell about 26 percentage points.

    The swing from profit to loss is the core reason the company's earnings power weakened this period.

  • July poultry sales jumped year on year July live poultry sales revenue rose 6.21% month on month and 56.91% year on year, with volume up 9.11% and average price up 20.79% versus last year. This shows demand and pricing improved from a very weak base.

    It is the main positive counterweight showing the poultry business recovering from last year's slump.

  • Egg price surge lifts its egg business Egg prices rose 15.5% in nine days and 58% year on year, driven by a smaller national flock after 11 loss-making months. Xiangjia's egg business was already profitable in the second quarter, so higher egg prices directly help its results.

    Eggs are a real profit source for Xiangjia, so this price spike is a genuine positive force.

  • September poultry sales volume and revenue fell September live poultry sales volume dropped 18.78% month on month and revenue fell 8.20%, though the average price rose 12.88%. The volume decline suggests demand for the company's birds weakened again after the July rebound.

    It is the latest hard data point and shows the recovery is not yet steady.

August 2026
▲2▼2

Xiangjia swings to loss as poultry and hog prices stay weak

  • First-half loss on weak poultry and hog prices Xiangjia expects and then confirms a first-half 2026 net loss of about 12 million yuan, versus a profit a year earlier. Revenue rose 8.57%, but lower live poultry and hog selling prices squeezed margins, and hog gross margin fell about 26 percentage points.

    The swing from profit to loss is the core reason the company's earnings power weakened this period.

  • July poultry sales jumped year on year July live poultry sales revenue rose 6.21% month on month and 56.91% year on year, with volume up 9.11% and average price up 20.79% versus last year. This shows demand and pricing improved from a very weak base.

    It is the main positive counterweight showing the poultry business recovering from last year's slump.

  • Egg price surge lifts its egg business Egg prices rose 15.5% in nine days and 58% year on year, driven by a smaller national flock after 11 loss-making months. Xiangjia's egg business was already profitable in the second quarter, so higher egg prices directly help its results.

    Eggs are a real profit source for Xiangjia, so this price spike is a genuine positive force.

  • September poultry sales volume and revenue fell September live poultry sales volume dropped 18.78% month on month and revenue fell 8.20%, though the average price rose 12.88%. The volume decline suggests demand for the company's birds weakened again after the July rebound.

    It is the latest hard data point and shows the recovery is not yet steady.

Latest
▲2▼2

Xiangjia swings to loss as poultry and hog prices stay weak

  • First-half loss on weak poultry and hog prices Xiangjia expects and then confirms a first-half 2026 net loss of about 12 million yuan, versus a profit a year earlier. Revenue rose 8.57%, but lower live poultry and hog selling prices squeezed margins, and hog gross margin fell about 26 percentage points.

    The swing from profit to loss is the core reason the company's earnings power weakened this period.

  • July poultry sales jumped year on year July live poultry sales revenue rose 6.21% month on month and 56.91% year on year, with volume up 9.11% and average price up 20.79% versus last year. This shows demand and pricing improved from a very weak base.

    It is the main positive counterweight showing the poultry business recovering from last year's slump.

  • Egg price surge lifts its egg business Egg prices rose 15.5% in nine days and 58% year on year, driven by a smaller national flock after 11 loss-making months. Xiangjia's egg business was already profitable in the second quarter, so higher egg prices directly help its results.

    Eggs are a real profit source for Xiangjia, so this price spike is a genuine positive force.

  • September poultry sales volume and revenue fell September live poultry sales volume dropped 18.78% month on month and revenue fell 8.20%, though the average price rose 12.88%. The volume decline suggests demand for the company's birds weakened again after the July rebound.

    It is the latest hard data point and shows the recovery is not yet steady.

Thai Union Feedmill PCL (TFM.BK)

Q3 2026
▼2▲1

TFM's profit squeezed by record fishmeal costs and weak shrimp feed demand

  • Fishmeal cost surge crushes margins Fishmeal prices jumped 59% from a year ago, pushing TFM's gross margin down to 16% — below its own 17-19% target. This squeezes profit: Q3 2026 profit is expected to fall 46% from last year. Higher costs mean less money left from each sale, which weighs on the stock price.

    This is the single biggest force driving TFM's profit down and explains why the stock is under pressure.

  • Shrimp feed demand weakens amid competition Shrimp feed is 60-65% of TFM's sales, but it is struggling. Competitors are fighting harder for customers, and farmers are switching to cheaper soybean and poultry meal. This means lower sales volume and less pricing power for TFM's main product, dragging revenue and profit down.

    It explains the demand-side weakness behind TFM's falling sales and profit, not just the cost side.

  • Growth plans expand but targets cut TFM set a 10 billion baht revenue goal by 2030 and is building a plant in Ecuador, but it cut this year's growth target to 5-7% from 8-10% and lowered its margin goal. The long-term expansion is positive, but near-term expectations are being scaled back, which limits upside.

    It shows the tension between TFM's long-term growth ambitions and its reduced near-term outlook.

  • Halal certification opens new markets TFM received halal certification for 48 shrimp and fish feed products, opening doors to Middle Eastern and ASEAN markets like Malaysia and Bangladesh. This could bring new customers and diversify sales away from Thailand, supporting future revenue growth.

    It is a new demand driver that could offset some weakness in TFM's core shrimp feed business.

August 2026
▼2▲1

TFM's profit squeezed by record fishmeal costs and weak shrimp feed demand

  • Fishmeal cost surge crushes margins Fishmeal prices jumped 59% from a year ago, pushing TFM's gross margin down to 16% — below its own 17-19% target. This squeezes profit: Q3 2026 profit is expected to fall 46% from last year. Higher costs mean less money left from each sale, which weighs on the stock price.

    This is the single biggest force driving TFM's profit down and explains why the stock is under pressure.

  • Shrimp feed demand weakens amid competition Shrimp feed is 60-65% of TFM's sales, but it is struggling. Competitors are fighting harder for customers, and farmers are switching to cheaper soybean and poultry meal. This means lower sales volume and less pricing power for TFM's main product, dragging revenue and profit down.

    It explains the demand-side weakness behind TFM's falling sales and profit, not just the cost side.

  • Growth plans expand but targets cut TFM set a 10 billion baht revenue goal by 2030 and is building a plant in Ecuador, but it cut this year's growth target to 5-7% from 8-10% and lowered its margin goal. The long-term expansion is positive, but near-term expectations are being scaled back, which limits upside.

    It shows the tension between TFM's long-term growth ambitions and its reduced near-term outlook.

  • Halal certification opens new markets TFM received halal certification for 48 shrimp and fish feed products, opening doors to Middle Eastern and ASEAN markets like Malaysia and Bangladesh. This could bring new customers and diversify sales away from Thailand, supporting future revenue growth.

    It is a new demand driver that could offset some weakness in TFM's core shrimp feed business.

Latest
▼2▲1

TFM's profit squeezed by record fishmeal costs and weak shrimp feed demand

  • Fishmeal cost surge crushes margins Fishmeal prices jumped 59% from a year ago, pushing TFM's gross margin down to 16% — below its own 17-19% target. This squeezes profit: Q3 2026 profit is expected to fall 46% from last year. Higher costs mean less money left from each sale, which weighs on the stock price.

    This is the single biggest force driving TFM's profit down and explains why the stock is under pressure.

  • Shrimp feed demand weakens amid competition Shrimp feed is 60-65% of TFM's sales, but it is struggling. Competitors are fighting harder for customers, and farmers are switching to cheaper soybean and poultry meal. This means lower sales volume and less pricing power for TFM's main product, dragging revenue and profit down.

    It explains the demand-side weakness behind TFM's falling sales and profit, not just the cost side.

  • Growth plans expand but targets cut TFM set a 10 billion baht revenue goal by 2030 and is building a plant in Ecuador, but it cut this year's growth target to 5-7% from 8-10% and lowered its margin goal. The long-term expansion is positive, but near-term expectations are being scaled back, which limits upside.

    It shows the tension between TFM's long-term growth ambitions and its reduced near-term outlook.

  • Halal certification opens new markets TFM received halal certification for 48 shrimp and fish feed products, opening doors to Middle Eastern and ASEAN markets like Malaysia and Bangladesh. This could bring new customers and diversify sales away from Thailand, supporting future revenue growth.

    It is a new demand driver that could offset some weakness in TFM's core shrimp feed business.