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China Mengniu Dairy Company Limited (2319) investor relations material
China Mengniu Dairy Company Limited H1 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Revenue for H1 2025 was RMB41,567.2 million, down 6.9% year-over-year due to persistent raw milk oversupply and weak consumer demand recovery.
Gross profit margin rose 1.4–1.5 percentage points to 41.7%, driven by lower raw milk prices.
Operating profit increased 13.4% to RMB3,538.3 million, with margin up to 8.5%.
Net profit attributable to owners fell 16.4% to RMB2,045.5 million, mainly due to higher losses from associates and absence of prior year disposal gains.
Over 100 new products launched, with growth in chilled yogurt, fresh milk, milk formula, cheese, and ice products.
Financial highlights
EBITDA decreased 4.1% to RMB4,596.7 million, but EBITDA margin improved to 11.1%.
Net cash inflow from operating activities rose 46.2% to RMB2,806.1 million.
Capital expenditure dropped 40.3% to RMB1,010.4 million.
Sales and distribution expense ratio decreased to 27.9%.
Debt-to-equity ratio improved to 61.8% from 72.1% at year-end 2024.
Outlook and guidance
Industry supply-demand imbalances expected to improve as raw milk prices stabilize and consumer confidence recovers.
Focus remains on R&D, product innovation, and expanding user scenarios, with continued international expansion.
Ongoing investment in technology, digital transformation, and sustainability initiatives.
Next China Mengniu Dairy Company Limited earnings date
Next China Mengniu Dairy Company Limited earnings date
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