News Column

Shengmu Expected 170% Net Profit Growth in H1

July 31, 2014

BEIJING, July 31, SinoCast -- China Shengmu (SEHK: 1432) predicted net profits in the first half of this year will surge above 170%, compared with net profit of CNY 102 million in the same period of a year earlier.

This-round milk shortage drove the milk price to grow to the peak of CNY 4.27 per kg this February.

According to its prospectus, Mengniu, Yili and Want Want are top three customers of the listed company and have signed a supply agreement with the latter.

In 2001, Mengniu contributed 87.4%, 94.6% and 58.3% to Shengmu's annual sales revenue from 2011 to 2013 as the former has depended on Mengniu since its inception from 2009.

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Source: Sinocast Investing & Securities Beat (China)

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