Muyuan Foods Co., Ltd. announced earnings results for the first quarter of 2016. For the quarter, the company reported operating revenue of CNY 912 million, rising 82.48% from a year earlier. Net profit reached CNY 368 million, representing CNY 0.71 per share, in contrast to loss of CNY 20.1949 million.

The company provided earnings guidance for the first half of 2016. The company expected net profit to hike 1985.3% to 2035.27% to CNY 977 million to CNY 1 billion in the first half of 2016.