Lates News

Food producer Yili International fell 4.3% at the end of Wednesday, after the company announced its third quarter performance, with revenue of $9.744 billion, a year-on-year increase of 5.9%, higher than market expectations. However, its organic growth slowed to 3.4% from 5.6% in the second quarter, mainly due to a 4.6% decrease in sales/combinations. Adjusted earnings per share were $0.73, a 23% decrease year-on-year. What's even more concerning for investors is that the gross margin is 30.4%, a 10 percentage point decrease year-on-year, failing to meet market expectations.