Miaokelanduo H1 2026 Revenue Up 28.71% to RMB3.304 Billion; Cheese Business RMB2.887 Billion; Dividend RMB101
Miaokelanduo posted H1 2026 revenue of RMB3.304 billion, up 28.71% year on year, and net profit attributable to shareholders of RMB151 million, up 13.74%. Cheese business revenue rose 28.95% to RMB2.887 billion, lifting its share of main business revenue to 88.06%. The company proposed a cash dividend of RMB101 million, equal to 67.24% of H1 net profit, its first major payout in over a decade. The results are the first under new president Kuai Yulong, following Mengniu Group's full operational takeover.
Miaokelanduo released its H1 2026 financial report on August 22, with both revenue and net profit achieving double-digit growth, maintaining high growth for three consecutive quarters. H1 revenue was RMB3.304 billion, up 28.71% from the same period in 2025; net profit attributable to shareholders of the listed company was RMB151 million, up 13.74% year on year. Second-quarter revenue reached a record high for a single quarter.
Cheese business revenue was RMB2.887 billion, up 28.95% year on year, with its share of main business revenue rising to 88.06% from 87.71% in the same period of 2025. Liquid milk and other businesses generated revenue of RMB160 million and RMB232 million, respectively. The gross margin of the cheese business was 33.24%, and its gross profit accounted for 97.78% of the company's main business gross profit, up 0.47 percentage points year on year.
The company proposed a cash dividend of RMB101 million to shareholders, representing 67.24% of H1 2026 net profit, marking its first major dividend in over a decade. This earnings report is the first under new president Kuai Yulong, who has been in office for just over five months. Following Mengniu Group's full takeover of operational management, the company's governance structure has been adjusted.