By Yifan Wang
China Feihe Ltd. said its net profit for the first half of the year rose 57%, thanks to surging sales of high-end infant-milk-formula products.
The dairy and infant-milk-formula maker posted net profit of 2.75 billion yuan ($396.7 million) for the period.
Revenue jumped 48% to CNY8.71 billion, as sales of its high-end product line soared 73% despite the coronavirus pandemic's impact.
The premium product series is also more profitable, boosting China Feihe's gross profit margin to 70.9% from 67.5% in the year-earlier period.
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