China's Mengniu Dairy half-year revenue, net income rise

China Mengniu Dairy

26/08/2026 15:07

Overview
China dairy producer's half-year revenue grew 7.8% yr/yr
Net income attributable to owners rose 15.9% yr/yr
Growth driven by product innovation and omni-channel expansion

Outlook
Company says operational foundation is in place for incremental growth in H2 2026

Result Drivers
PRODUCT AND CHANNEL EXPANSION – Revenue rose 7.8% to RMB44.79 bln, driven by product innovation, omni-channel expansion and targeted brand marketing
CHEESE BUSINESS GROWTH – Milkground revenue rose 28.7%, supported by product innovation, channel transformation and expansion across B2C and B2B markets
INPUT-COST AND PRICE PRESSURE – Gross margin fell 0.9 percentage points to 40.8% as pricing adjustments and higher packaging, coconut-oil and protein-powder costs weighed
Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
H1 Revenue
 
RMB 44.79 bln
 
H1 Net Income Attributable
 
RMB 2.37 bln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 27 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the food processing peer group is "buy"
Wall Street's median 12-month price target for China Mengniu Dairy Company Ltd is HK$21.30, about 13.9% above its August 26 closing price of HK$18.70
The stock recently traded at 12 times the next 12-month earnings vs. a P/E of 11 three months ago

Reuters Recommended Reads
Aug 25 - China Modern Dairy's H1 revenue rises on higher milk volume, yield per cow
Aug 25 - China's Youran Dairy swings to H1 profit amid improved demand
Aug 26 - China's Ausnutria Dairy H1 revenue falls; hurt by lower birth rate, competition

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)