Shenyang Toly Bread Co Ltd

Toly Bread released its 2026 interim report. First-half operating revenue was about 2.56 billion yuan, down 1.98% year on year. Net profit attributable to the parent was about 145 million yuan, down 28.75% year on year. Net profit attributable to the parent after deducting non-recurring items was about 137 million yuan, down 29.46% year on year. In the same period, the company announced plans to establish a wholly owned subsidiary, Shanghai Shuangzishan Trading Co., Ltd., with registered capital of 10 million yuan, registered at No. 212 Wankang Road, Minhang District, Shanghai. Its business scope includes food production, food sales, and online food sales. The company said the move aims to integrate the group's e-commerce business, adapt to online operations, achieve standardized development, and improve operational management efficiency.

China's bakery sector is growing overall, but listed companies continue to report falling profits. Ganso and Maiquer recently issued first-half earnings forecasts showing losses or a swing from profit to loss. Ganso expects a net loss attributable to shareholders of 59.5 million to 71.4 million yuan for the first half, compared with a profit of 1.235 million yuan a year earlier. Maiquer forecasts a loss of 45 million to 50 million yuan, versus a profit of 1.547 million yuan a year ago. Toly Bread saw first-quarter revenue decline 2.6 percent year on year, while net profit attributable to shareholders dropped 38.3 percent. The industry's overall retail scale has reached 662.15 billion yuan, but nearly 88,000 stores have closed on a net basis over the past year amid fierce competition and shifting channel structures. Zhang Li, general manager of Bimbo China, noted that consumers increasingly prefer healthier products, short-shelf-life fresh items, small packaging, and offerings that pair with coffee and tea. Traditional hypermarket channels are shrinking, while discount stores, instant retail, and membership stores have become high-growth new scenarios. Bimbo's e-commerce channel grew more than 35 percent, and its O2O channel grew over 30 percent. Companies like Ganso and Toly Bread are seeking new growth by optimizing supply chains, expanding diverse store formats, and stepping up community-based operations and instant delivery.