China Foods released its 2026 interim report, highlighting steady growth across core bottling operations, omni-channel retail and emerging nutrition businesses.
Financial Performance • Revenue rose 4.0% year on year to RMB12.76 billion, driven by a 9.6% increase in sales volume to 810 million unit cases. • Net profit advanced 8.0% to RMB1.06 billion; net margin expanded 0.3 percentage points to 8.3%. • Gross margin contracted 1.4 percentage points to 36.7% due to lower average selling prices, but a 1.7 percentage-point reduction in the distribution-and-selling expense ratio to 24.6% offset part of the pressure. • Cash and cash equivalents totaled RMB5.90 billion with no interest-bearing borrowings, leaving the group in a net cash position. • Capital expenditure on property, plant and equipment reached RMB0.56 billion; outstanding commitments stood at RMB0.14 billion.
Category Breakdown • Sparkling drinks generated RMB9.58 billion, up 2.1%; operating profit grew 8.0%. Sugar-free Coke products continued to gain traction. • Juices delivered RMB1.78 billion, up 6.3%, led by the “Qoo” brand and new Minute Maid fortified offerings. • Packaged water sales rose 6.5% to RMB0.61 billion as “Ice Dew” widened distribution and “Chun Yue” expanded into tourism and hospitality channels. • Functional drinks surged more than 50% to RMB0.30 billion, bolstered by new Monster sugar-free SKUs.
Channel & New Business Highlights • COFCO Yuexiang Club (new retail) sold 30.87 million unit cases, up 25.0%, and booked RMB0.75 billion in operating-basis revenue; membership climbed 41% to 94.91 million. • COFCO Zhishang (smart retail) expanded coverage to 36 cities and completed 100,000 orders in 1H26. • Nutrition and health foods business established full value-chain infrastructure and readied probiotic launches for 2H26.
Strategic Priorities Management reiterated the 2026 theme “Promoting Stability through Progress, Striving for the Long Term,” focusing on quality enhancement, efficiency gains, digital innovation, ecosystem openness and sustainability. The group aims to maintain momentum in its Coca-Cola franchise while accelerating functional beverages, omnichannel retail and health-food platforms to underpin the opening phase of its 15th Five-Year Plan.