YILI(SH:600887) Xin Lang Cai Jing·2025-09-17 08:33Core Viewpoint - The company reported a revenue growth of 3.37% in the first half of 2025, with a revenue of 61.933 billion yuan, while net profit decreased by 4.39% to 7.200 billion yuan, indicating a mixed performance amid market challenges [1] Group 1: Financial Performance - The company achieved a revenue of 61.933 billion yuan in H1 2025, with a year-on-year growth of 3.37% [1] - The net profit for the same period was 7.200 billion yuan, reflecting a decline of 4.39% [1] - The gross profit margin improved to 36.05%, an increase of 1.26 percentage points year-on-year [1] - Operating costs were reported at 39.509 billion yuan, with a growth of 1.49% [1] - The company’s net profit margin was 11.71%, up by 0.97 percentage points year-on-year [1] Group 2: Market Position and Product Performance - The liquid milk business generated revenue of 36.126 billion yuan, accounting for 58.4% of total revenue, and maintained the leading market share in both offline and major e-commerce platforms [2] - The company’s milk powder and dairy products segment achieved revenue of 16.578 billion yuan, a growth of 14.26%, representing 26.77% of total revenue [3] - The company’s cold drink business reported revenue of 8.229 billion yuan, with a growth of 12.39%, and also held the leading market share [3] Group 3: Strategic Initiatives - The company has entered the Hong Kong market through a strategic partnership with a well-known health retail chain, marking a significant step in its internationalization efforts [4] - The company is advancing its "WISH 2030" sustainable development strategy, aiming to become the global leader in the dairy industry by 2030 [4] - The company has established 81 production bases globally, with products available in over 60 countries, enhancing its supply chain and consumer insights through digital transformation [4] Group 4: Future Projections - The company forecasts revenues of 119 billion yuan, 123.8 billion yuan, and 128.9 billion yuan for 2025, 2026, and 2027, respectively, with year-on-year growth rates of 3.1%, 4.1%, and 4.1% [5] - Expected net profits for the same years are projected at 11.4 billion yuan, 12.1 billion yuan, and 12.6 billion yuan, with corresponding EPS of 1.81 yuan, 1.92 yuan, and 2.00 yuan [5]