China Agriculture View

Beijing Sanyuan Foods Co Ltd, a Chinese milk and dairy products manufacturer and seller, onlast Tuesday released its interim report, which showed that its net profit surged 138% year on year to RMB 36.73 million in the first half of this year.

The net profit was mainly contributed by its investments. The company realized an investment income of RMB 34.93 million in Beijing McDonald’s Food Co, in which Beijing Sanyuan holds a 50%, according the interim report.

The company’s operating revenue in the first six months was RMB 1.13 billion, up 73.24% year on year.

Beijing Sanyuan, which has a nearly 40% market share in the Beijing liquid milk market, earlier reported that its net profit attributable to shareholders was RMB 40.76 million, up 87.22% from the previous year, according to an earlier report from China Knowledge.

In early March, the company won the bid for the core assets of bankrupt Sanlu Group, the company at the center of the milk scandal last year. The acquisition has helped it expand outside the Beijing market.