In the first half of 2011, the performance of the top three dairy companies varied

In the first half of 2011, the performance of the top three dairy companies varied

Recently, several dairy listed companies have issued the 2011 interim report. According to the report, in the first half of 2011, Yili's sales revenue was 18.869 billion yuan, net profit attributable to shareholders of the parent company was 816 million yuan, Mengniu Dairy realized sales revenue of 18.579 billion yuan, and net profit attributable to shareholders of the parent company was 790 million yuan; Bright Dairy The sales income was 5.547 billion yuan, and the net profit attributable to shareholders of the parent company was 73,298,800 yuan.

Zhou Sianran, a food industry researcher at China Investment Advisors, pointed out that in analyzing the three major dairy giants' 2011 mid-year report, we found that Yili's performance was the fastest growing and its performance was the most prominent. Mengniu Dairy followed, and Bright Dairy was at the bottom. Although Guangming Dairy achieved double-income growth in operating income and net profit in the first half of 2011, its operating profit and total profit decreased by 32.68% and 34.04% respectively year-on-year. This means that Bright Dairy has experienced a declining trend in its main business, and its net profit growth mainly comes from investment income and non-operating income.

As we all know, at the end of last year, Yili launched a brand upgrade strategy, which not only changed the brand LOGO or packaging, but also helped Yili's services, products, and ideas to be further upgraded, making the interaction between Yili and consumers more plentiful and more comprehensive. It has enhanced the image of Yili in the minds of consumers, and has also responded to the changes in the dairy industry, the future development of enterprises, and consumer demand. Of course, Yili's layout in the four series of liquid milk, milk powder, yogurt and cold drinks is relatively reasonable, especially its position in the powdered milk market is hardly matched by Mengniu Dairy and Bright Dairy in the short term.

Mengniu Dairy also performed well in the first half of 2011. Its liquid milk, milk beverages, yogurt, ice cream and other businesses showed rapid growth, and the decline in sales expenses, administrative expenses, and other expenses also indicated Mengniu's management level and competitiveness. Has been enhanced. It is worth mentioning that Mengniu’s investment in milk sources continues to grow, and the pace of nationwide milk source deployment will further accelerate. COFCO’s shareholding further promotes the entire industry chain of Mengniu Dairy.

Zhang Zhenlin, research director of China Investment Consulting Co., Ltd. pointed out that whether it is Yili, Mengniu or Bright Dairy, the increase in the prices of raw milk, sugar and other raw and auxiliary materials has aggravated the cost pressure of the company and to a certain extent, it has reduced the profit margin of the company. In this case, Mengniu has effectively opened up new ways of controlling costs by leveraging on the steady supply of raw materials and price advantages of COFCO, and Bright Dairy has also implemented price increase measures for some of its products.

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