Shanghai Milkground's Q1 net profit more than doubles

Shanghai Milkground Food Tech (SSE:600882) reported a substantial increase in its first-quarter 2025 financial results. Net profit attributable to shareholders soared by 114.88% year-over-year to CNY 82.4 million, compared to CNY 38.3 million in the same period last year. Revenues rose by 6.26% to CNY 1.23 billion. Basic and diluted earnings per share both increased by 115.79% to CNY 0.164. The company attributed the growth to an optimized product mix, increased cheese revenues, effective cost reduction measures, decreased advertising expenses, and increased government subsidies and investment income. The company announced it held CNY 736.6 million in cash and cash equivalents at the end of the quarter, with total assets reaching CNY 8.25 billion.