Higher Selling Expense Drags Yili’s Margin in 2Q; CNY 27 FVE Is Intact on Positive Long-Term Outlook
Despite solid 14% top-line growth in the second quarter, narrow-moat Inner Mongolia Yili Industrial, or Yili, reported net profit of CNY 1.35 billion, down 17.5% year on year, coming in below the market’s and our projection, owing to higher-than-expected marketing and promotion costs for new product launches and advertising expenses during the World Cup games. Operating profit margin deteriorated by 3.5 percentage points from the year-ago quarter to 8%, mainly owing to a 3.9-percentage-point inc...Inner Mongolia Yili Industrial Group, through its subsidiaries, is engaged in the purchasing, processing and selling milk; raising milk cows and animals; import and export trading; manufacturing and selling cold beverages; manufacturing milk powder, fluid milk, frozen food and dairy food; assets and enterprise entrusted operations; industrial plantation; processing agricultural product; manufacturing and selling dairy products; investment development; selling minerals, animals and by-products; real estate development, operation and consultation services; purchasing agricultural by-products; and purchasing and selling feeds.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.