Jungang Baeksin reports sharp drop in quarterly operating profit

Jungang Baeksin reported second-quarter operating profit of 1.14 billion won, down 61.8 percent from the previous quarter and 23.8 percent from a year earlier, in a regulatory filing submitted on Aug. 5.

Revenue for the three months from April 1 through June 30 was 11.9 billion won, falling 5.5 percent from the preceding Jan.-March quarter of 2026, the filing showed. On a year-on-year basis, sales were also 1.2 percent below the 12 billion won recorded for the corresponding April-to-June period in 2025, according to the regulatory filing.

Net income for the April-to-June quarter reached 1.29 billion won, declining 61.3 percent from the Jan.-March quarter but rising 90.4 percent from the 677 million won reported in the comparable quarter a year earlier.

Those cumulative figures compare the Jan.-June period of 2026 with the corresponding Jan.-June period of 2025, separately from the quarterly results reported in the filing.

For the Jan.-June period, revenue was 24.5 billion won, a 3.1 percent decrease from the 25.3 billion won recorded in the equivalent first-half period of 2025 for the company. Operating profit during the same six-month reporting period rose 9.3 percent to 4.14 billion won, compared with 3.79 billion won recorded in the year-earlier half of 2025. Cumulative net income totaled 4.62 billion won for the first six months, compared with 2.79 billion won registered during the matching 2025 period.

The company's stated principal business is manufacturing and selling animal vaccines for pigs, poultry, dogs, cats and beef cattle, according to the business information provided in the filing.

It also supplies feed additives and general animal medicines, while providing services related to biological products as another stated part of its business operations.

On April 15, the company obtained product approval for Suishot ASF-X, a pig vaccine for export use identified as a newly licensed item in the filing.

In its business description accompanying the filing, Jungang Baeksin said the animal-medicine market is sensitive to conditions in livestock farming and changes in consumption of livestock products. It said tighter antibiotic regulations and greater awareness of disease prevention are driving growth in vaccine-centered biological products, which it identified as a market trend.

Earlier separate company filings made on July 8 and June 25 respectively covered a single sales or supply contract and a decision to cancel shares.

Two separate disclosures made on June 15 addressed specified securities held by executives and major shareholders, as well as the status of large shareholdings.

Company records also list an earlier preliminary operating-results disclosure released on May 6 and a quarterly report for March filed on May 15.

The reported second quarter spans April 1 through June 30, 2026, following a preceding quarter from Jan. 1 through March 31. The year-earlier quarterly comparison ran from April 1 through June 30, 2025, while the cumulative comparison covers Jan. through June of that same year.