Guangdong Haid Group's (SHE:002311) net profit attributable to shareholders in the first half dropped 39% to 1.61 billion yuan from 2.64 billion yuan a year earlier, according to a Shenzhen bourse filing on Tuesday.
Earnings per share fell 38% year on year to 0.98 yuan from 1.59 yuan.
Operating revenue rose 9.2% to 64.2 billion yuan from 58.8 billion yuan in the previous year.
The Chinese animal feed maker proposed to distribute a cash dividend of 1.50 yuan per 10 shares to shareholders.
The company's shares fell 3% during the afternoon trade.
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