Charoen Pokphand Foods (CPF) reported H1 2026 net profit of 8,951 million baht, down from the prior year due to oversupply of livestock in multiple countries, disease outbreaks, and elevated shipping/raw material costs from Middle East tensions. The company declared an interim dividend of 0.45 baht per share (41% payout ratio). Despite headwinds, margins remained stable at 15% gross and 3% net. Management expects H2 2026 to improve as livestock supply balances revert and the company leverages AgriTech and supply chain efficiencies.