---
title: "1 Yili = 3,000 Black Bull! 50 Food Companies Release Q1 Financial Reports, Multiple Data Sets Are Shocking!"
description: "Recently, food and beverage giants have released their Q1 2017 performance reports. The data reveals stark contrasts: Black Bull Food's revenue was only 5 million yuan, over 3,000 times less than Yili's 15.7 billion yuan. Among 50 representative companies, 33 saw revenue growth and 31 saw profit growth, but the overall FMCG industry remains challenging."
author: "New Distribution"
publisher: "New Distribution"
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published: "2017-05-08"
language: "en"
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# 1 Yili = 3,000 Black Bull! 50 Food Companies Release Q1 Financial Reports, Multiple Data Sets Are Shocking!

> Recently, food and beverage giants have released their Q1 2017 performance reports. The data reveals stark contrasts: Black Bull Food's revenue was only 5 million yuan, over 3,000 times less than Yili's 15.7 billion yuan. Among 50 representative companies, 33 saw revenue growth and 31 saw profit growth, but the overall FMCG industry remains challenging.

> Foreword: Recently, food and beverage giants have released their Q1 2017 performance reports. What happened in the past three months, and how did they develop? We get a glimpse through their Q1 reports!
**▲Data source: Company Q1 reports; Table: Shiyejia (shiyehome)**
First: From a revenue perspective, the well-known Black Bull Food's Q1 revenue was only a meager 5 million yuan, which is more than 3,000 times less than Yili's 15.7 billion yuan.
Second: From a year-on-year revenue growth rate perspective, 17 (30%) companies experienced varying degrees of decline, but Huazi Industry's year-on-year growth rate was as high as 2332.15%.
Third: From a net profit attributable to shareholders perspective, only 4 companies saw a year-on-year decline.
Fourth: From a net profit year-on-year growth rate perspective, the largest decline was Lotus Health at -475.59%, and the largest increase was Langyuan Shares at 1040.12%.
Fifth: The highest net profit margin attributable to shareholders was By-Health at 38.45%, and the lowest was Black Bull Food at -600%.
Sixth: Companies with both revenue and net profit year-on-year declines include: dairy industry's Sanyuan and Beingmate; meat industry's Shuanghui Development and Delisi; food additive industry's Lotus Health, Star Lake Technology, Shenzhen Shenbao A, and Quantum Hi-Tech; as well as major companies like Chengde Lulu, Qiaqia Food, and Haixin Food.
Among these representative companies' performance disclosures, 33 achieved revenue growth in Q1 2017, accounting for 66%, and 31 achieved net profit growth, accounting for 62%, reflecting an upward trend for some representative companies.
Even so, the overall FMCG industry in the first quarter of 2017 remains unoptimistic. Companies are still having a hard time, with many seeing revenue growth but profit decline. All companies hope to get closer to the market, but some are drifting further from the times. The first quarter of 2017 brings mixed joys and sorrows!
**Today, we have reviewed 10 companies with distinctive performance in 2017 for your reference.**
**丨Yili: Large-scale growth, dominating the competition**
As a leading representative of China's dairy industry, Yili lived up to expectations, ranking first among many food companies with revenue of 15.716 billion yuan. In 2016, Yili's revenue was 60.609 billion yuan. It is not easy for this super giant of China's dairy industry to continue growing at a good pace every year. On the road to impacting the "Global Dairy Top 5," Yili is getting closer.
**丨Bright: A good start in 2017, net profit up nearly 60%**
Bright Dairy had a good start in 2017, with both revenue and net profit achieving significant growth. In Q1, Bright Dairy's revenue was 5.366 billion yuan, up 7.45% year-on-year, and net profit attributable to listed company shareholders was 187 million yuan, up 58.39% year-on-year. Under the brand youth-oriented strategy, Bright's series of celebrity endorsement marketing has amplified its brand value.
**丨Haoxiangni: Dual-brand operation, significant Q1 growth**
In Q1, Haoxiangni achieved revenue of 1.3 billion yuan, up 368.34% year-on-year; net profit attributable to listed company shareholders was 59.5192 million yuan, up 230.64% year-on-year. Haoxiangni stated that the Q1 performance changes were mainly due to the acquisition of Hangzhou Haomusi Food Co., Ltd. (Baicaowei), which brought sales revenue of about 1.2 billion yuan, a significant year-on-year increase of over 300%, leading to a substantial increase in net profit. In 2017, Haoxiangni will implement a dual-brand operation model: the Haoxiangni brand focuses on the gift market, while the Baicaowei brand focuses on the healthy snack market. The future after the "Hao-Bai" integration is worth looking forward to.
**丨Shuanghui: Affected by continuous decline in pig prices, slight performance adjustment**
Shuanghui's Q1 revenue was 12.212 billion yuan, down 4.14% year-on-year; net profit attributable to shareholders was 879 million yuan, down 18.20% year-on-year. Both revenue and net profit declined in Q1. On one hand, the number of slaughtered pigs was 2.9 million, down 16.61% from the same period last year, reducing revenue contribution; on the other hand, the continuous decline in pig prices in Q1 led to a 1.29 percentage point decrease in gross margin, reducing gross profit by 254 million yuan, which was the main reason for the net profit decline.
**丨Bairun: Q1 net profit of 20.52 million, turning from loss to profit year-on-year**
Bairun, the parent company of Rio, achieved Q1 revenue of 274 million yuan, up 26.77% year-on-year; net profit attributable to listed company shareholders was 21 million yuan, up 132.28% year-on-year. Bairun expects net profit of 20-80 million yuan for January-June 2017. The announcement shows that the net profit turned from loss to profit compared to the same period last year, mainly due to increased revenue and reduced advertising and personnel expenses.
**丨Qiaqia: Weak Q1 performance, e-commerce business becomes a highlight**
Qiaqia's Q1 revenue was 799 million yuan, down 7.13% year-on-year; net profit was 77 million yuan, down 17.35% year-on-year, marking the first double decline in recent years and another decline after last year's annual report. However, there are highlights amid the bleak news: Qiaqia Food's e-commerce logistics center project and nut sub-factory project, with an investment of 347 million yuan, are expected to be put into production this year, which will effectively make up for the company's shortcomings in e-commerce business. At the same time, Qiaqia Food will continue to focus on promoting the blue bag series products this year. As one of the company's best-selling single products in 2016, the blue bag series achieved revenue of about 200 million yuan last year, becoming an important performance pillar for this "melon seed king."
**丨Chengde Lulu: Both revenue and performance decline**
Chengde Lulu, which mainly sells almond beverages, still failed to shake off the sluggish performance since last year in Q1 2017. In Q1 2017, Chengde Lulu's total revenue was 791 million yuan, down 37% year-on-year, and net profit was 197 million yuan, down 19% year-on-year. For the sudden decline in performance, Chengde Lulu's financial report attributed it to a decrease in product sales.
Although North China is Chengde Lulu's home market, it faces a severe situation. In the same Hebei region, Yangyuan Zhihui, with a growth rate far exceeding the industry level, quickly surpassed Chengde Lulu's market share with "Six Walnuts," becoming the "number one" in plant protein beverages.
**丨Haixin Food: Q1 loss of 3.98 million**
Haixin Food, which focuses on the production and sales of frozen and room-temperature fish and meat products, had Q1 2017 revenue of 184 million yuan, down 19.3% year-on-year; net profit attributable to listed company shareholders was -3.9866 million yuan, down 131.27% year-on-year. The announcement shows that Haixin Food's overall product sales have not seen significant growth, and the Spring Festival falling in January this year caused peak season sales to be retained in December last year; secondly, the amortization of employee management expenses of over 6 million in Q1 also affected net profit.
**丨Beingmate: Both revenue and net profit decline, expected to turn profit in H1**
Beingmate's Q1 revenue was 847 million yuan, down 6.58% year-on-year, and net profit was 10.92 million yuan, down 81.81% year-on-year. At the same time, Beingmate expects net profit for January-June 2017 to turn from loss to profit compared to the same period last year, estimated at 20-50 million yuan, while in January-June 2016, Beingmate's net profit was -214 million yuan.
**丨Black Bull Food: Q1 loss of 30.016 million**
In Q1, Black Bull Food's revenue was 5.1693 million yuan, down 92.64% year-on-year, while the average revenue growth rate for the beverage manufacturing industry was 13.46%; net profit attributable to listed company shareholders was -30.016 million yuan, down 114.65% year-on-year, while the average net profit growth rate for the beverage manufacturing industry was 6.69%. In recent years, Black Bull Food has repeatedly sold its assets and has been advocating "de-fooding," moving further and further away from us.
**Source: Shiyejia**


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