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Financial Highlights
The following is a summary of the audited consolidated results of the Inner Mongolia Mengniu Milk Industry (Group) Co. Ltd., the principal operating subsidiary of China Mengniu Dairy Company Limited, for the years ended December 31 2001, 2002, and 2003.

Year ended December 31
(Thousand RMB)
2001
2002
2003
Revenue
723,997
1,668,745
4,071,468
Growth %
Not applicable
130.5%
144.0%
Gross profit
184,106
451,578
1,023,519
% of Sales
25.4%
27.1%
25.1%
Operating profit
55,913
142,762
303,957
% of Sales
7.7%
8.6%
7.5%
Net Earnings
33,521
76,694
225,747
Growth %
Not applicable
128.8%
194.3%
*This information is subject to such qualifications and conditions contained in the prospectus.
 
 
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