China Shengmu Organic Milk Limited Provides Unaudited Consolidated Earnings Guidance for the Six Months Ended June 30, 2021
August 10, 2021 at 09:04 am EDT
China Shengmu Organic Milk Limited provided unaudited consolidated earnings guidance for the six months ended June 30, 2021. For the six months, it is expected that the Group will record a profit of not less than RMB 270 million for the six months ended 30 June 2021 from the unaudited consolidated interim results, representing a year-on-year increase of not less than 60% from the unaudited consolidated interim results was approximately RMB 166 million. The expected growth in profit for the Current Reporting Period is mainly attributable to (i) the year-on-year increase in the average sales price of raw milk; (ii) the significant year-on-year increase in the sales volume of organic milk, the Company's advantageous resource; (iii) the gross profit margin of raw milk sales remained stable and the gross profit of sales increased as compared to the Last Reporting Period; and (iv) the Group's debt structure continued to be optimized, and financing costs recorded a substantial decrease as compared to the Last Reporting Period.