Dairy giant Yili net profit up 42%

CHINESE dairy giant in Inner Mongolia, Yili Industrial Group Co. Ltd., posted a 42.48 percent year-on-year net profit growth for the first half of this year.

The firm’s net profit reached 5.32 billion yuan (about US$822 million) from January to June, Yili said in its half-year financial report disclosed at the Shanghai Stock Exchange yesterday.

During that period, the dairy giant generated revenue of 56.51 billion yuan, up by 18.89 percent year-on-year.

The revenue contributed by the e-commerce sector increased by 21.8 percent year-on-year, said the report.

Wuliangye reports solid profit growth

CHINA’S leading liquor producer Wuliangye Yibin Co. Ltd. saw its net profit grow 21.6 percent year on year to reach 13.2 billion yuan (about US$2 billion) in the first half of 2021, following solid sales growth.

Over the six-month period, the company chalked up 36.8 billion yuan in revenue, up 19.45 percent year on year, it said in an interim financial report filed with the Shenzhen Stock Exchange on Monday.

Revenue from the company’s liquor products rose 21.07 percent to 34.1 billion yuan thanks to expanded sales channels including group-buying, the report showed.

China Construction Bank boosts inclusive loans

THE China Construction Bank (CCB), one of the country’s largest state-owned commercial banks, saw its inclusive loans hit 1.71 trillion yuan (US$264.3 billion) at the end of June, 288.38 billion yuan more than that at the end of last year.

The CCB has increased credit supply in key areas such as inclusive finance, advanced manufacturing, strategic emerging industries and green finance, said Wang Jiang, head of the bank, at a press conference held Monday.

Regulator to tighten oversight of sharing economy

CHINA’S market regulator said on Monday it would step up oversight of the sharing economy, where consumers share access to goods and services often with the help of an online platform.

Bike-sharing and joint use of portable power banks to charge mobile phones are two popular sectors in the sharing economy.

The State Administration of Market Regulation said its stricter oversight would include regulating power bank sharing platforms and making their pricing systems transparent.