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Mengniu 2025 Interim Report: Continued Focus, Steady Progress in International Expansion
Thanks to the company’s ongoing implementation of lean management practices, Mengniu also achieved a 46.2% year-on-year growth in operating cash flow during the period. The operating profit margin improved by 1.5 percentage points to 8.5%.
Following the results announcement and reflecting confidence in the company’s future prospects, institutions such as JPMorgan increased their holdings in Mengniu. DBS Group and Shenwan Hongyuan also issued “Buy” ratings for the stock.
Aice Ice Cream: Deep Local Engagement Driving Growth
Mengniu’s international business delivered a standout performance in the latest financial report. Public data shows that Aice Ice Cream entered the Indonesian market in 2015, growing its annual sales from RMB 20 million to RMB 1.2 billion within three years. Currently, the brand generates over RMB 2 billion in annual revenue and holds a 34% market share in Indonesia, ranking first in the market. Aice also ranks second in the Philippines and has climbed to the number two position in Vietnam’s ice cream sector, with further expansion into neighboring countries such as Thailand.
Aice has driven innovation through its “Freezer Deployment Program,” under which nearly 600,000 freezers have been distributed across rural Indonesia, covering approximately 400,000 retail outlets. The program is supported by electricity subsidies, helping to establish a robust retail network. Notably, Aice has built a fully localized supply chain through strategic investments, including the construction of cold chain infrastructure via joint ventures and the establishment of three self-owned production facilities in Indonesia—effectively resolving cross-border logistics challenges.
To date, Aice has established four production bases across Southeast Asia. Its localized operating model—anchored in R&D, distribution, and supply chain management—has created strong competitive barriers in the region and offers a scalable blueprint for entering new markets.
Bellamy’s Accelerates Global Business System Upgrade
As a key pillar of Mengniu’s internationalization strategy, Bellamy’s Organic Infant Formula is showing strong growth momentum in Southeast Asia. Originating in Australia, Bellamy’s is a premium organic baby food brand, with its high-end product line—Bellamy’s Organic A2 Platinum—maintaining robust growth. The brand’s strategic presence in the Southeast Asian premium maternal and infant market is also contributing significantly to the upgrade and optimization of Mengniu’s global business system.
In recent years, Bellamy’s has continued to expand its footprint across Southeast Asia, with particularly strong performance in the Vietnamese market, where its infant formula segment is outpacing industry growth. In the first half of 2025, Bellamy’s completed a product line upgrade, launching new additions to its Classic Blue Can series and Organic Blue Shield series in both the Australian and Vietnamese markets.
Notably, during a recent distributor signing ceremony, the Australian Government’s Trade and Investment Counsellor to Vietnam attended in person—a strong endorsement of Bellamy’s product quality. The brand’s influence in Vietnam continues to grow, having been featured multiple times in special reports by Vietnam National Television. Bellamy’s has also enhanced local brand awareness through hosting visits from Vietnamese government and industry association delegations.
Entering a New Stage of Internationalization
Industry experts note that the globalization of the dairy industry faces multiple challenges, including supply chain integration, product localization, and building brand trust. Mengniu’s internationalization strategy goes beyond simple product exports, adopting an integrated “Product–Brand–Culture” approach to establish a multidimensional global presence.
On the branding front, Mengniu leverages global IPs to strengthen emotional connections with consumers, with sports marketing delivering particularly strong results. Since becoming the first Chinese dairy sponsor of the FIFA World Cup in 2018, the company has continued to sponsor major international events such as the World Cup and the Olympic Games. Through its brand message—”I wasn’t born strong; I was born to be strong”—Mengniu aligns the spirit of perseverance with athletic excellence, deepening global recognition of its brand values and product quality.
In terms of cultural outreach, Mengniu has positioned itself as an ambassador of Chinese culture, contributing to the broader narrative of cultural exports. Its collaboration with Ne Zha 2 not only launched co-branded products but also brought the creativity of Chinese IPs to global audiences.
Mengniu’s internationalization journey reflects a new model for Chinese brands going global: from product localization and brand IP development to achieving cultural resonance. This evolution marks a shift from exporting “Made in China” to communicating “Chinese Values.” With strategic patience and cultural confidence, Mengniu is steadily advancing from simply “going global” to “integrating globally”—and ultimately, to “leading globally.”
Hashtag: #Mengniu
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Media OutReach
New Documentary A MONA LISA OBSESSION from Discovery to debut December 14 in Southeast Asia
Owned by Frank Huang, an art collector and Taiwanese technology leader from Taiwan, this depiction of the Mona Lisa from his private collection adds a unique perspective to the ongoing conversation surrounding one of Leonardo da Vinci’s most iconic works.
The Mona Lisa has long captivated the world with her enigmatic smile and mysterious gaze – over centuries, many artistic interpretations inspired by the Mona Lisa have emerged, with scholars discovering more hidden details and subtle symbols, fueling the fascination of the original painting.
Catch A Mona Lisa Obsession in Southeast Asia on the Discovery Channel, Thursday, December 11, 2025 at 7:10 PM SGT and on Discovery Asia on Sunday, December 14 at 9:00 PM SGT.
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About Discovery Channel
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Financial Stress Keeps Singapore Awake, while Overall Well-Being in APAC Lags Behind Global Peers
Promotion of exercise culture and therapy may boost physical and mental health
The Singapore report of the Cigna Healthcare International Health Study 2025, released today encompasses more than 11,000 respondents across 13 markets, including 1,000 in Singapore and 4,000 across the Asia-Pacific region. The study reveals that physical, mental and financial well-being are the three aspects prioritized by Singapore residents. However, financial well-being is ranked the lowest with almost four in 10 (39%) rating their financial health as “fair” or “poor”.
Raymond Ng, CEO & Country Manager, Cigna Healthcare Singapore & Australia said: “Health and vitality are key to building resilient communities. It promises the well-being of our workforce and enables us to grow and prosper as a society. While vitality and well-being levels held firm among Singapore residents, more needs to be done in today’s uncertain environment to tackle stressors that can negatively impact their physical and mental well-being.”
The key indicators of vitality and well-being in Singapore are as follows:
| Vitality Score | Overall Well-Being
(% rating as “excellent” or “very good”)
|
Top Three Areas of Well-Being
(% rating as “excellent” or “very good” in 2025) |
| 2025: 61.2
2024: 61.4 |
2025: 34%
2024: 33% |
Family well-being: 44%
Mental well-being: 36% Physical well-being: 34% |
On a regional level, overall well-being in Asia Pacific lags behind the global average, with less than three in 10 (28%) Asia-Pacific respondents rating their overall well-being as “excellent” or “very good”, compared to four in 10 (41%) globally. While physical and mental well-being are the two most important aspects of well-being for respondents globally, financial well-being is more important for those in Asia Pacific, coming in as the third most important aspect. With financial well-being remaining the weakest aspect across the globe, there is a pressing need for governments and organizations to render support to address financial concerns.
Robert Peat, Chief Executive Officer, Asia Pacific, Cigna Healthcare said: “Asia Pacific continues to be one of the fastest growing regions in the world. To sustain this momentum, communities and employers need to recognize that healthy people are the foundation of a healthy economy and implement measures to close the gaps in their well-being.”
Sleepless in Singapore: Financial stress as the sleep killer
While mental well-being in Singapore remains stable with more than a third of respondents rating it as “excellent” or “very good” this year, eight in 10 (79%) respondents are stressed. Their greatest stressors are the current cost of living (53%); uncertainty about the future (47%); and personal finance (43%).
Stress affects more than mental and emotional health and can have huge implications on physical well-being. Our study reveals that disrupted sleep is the most common effect of stress among respondents in the nation, with close to half (48%) of respondents who are stressed reporting this effect, compared to 38% regionally.
Therapy remains underused by Singapore respondents. Despite nearly half (49%) of respondents reporting being negatively impacted by poor mental health, nearly nine in 10 (89%) say they did not receive counselling or therapy in the past 12 months, with 77% believing they do not need it. Given the impacts of stress and poor mental health on physical and overall well-being, more efforts are needed to raise awareness about the benefits of therapy and destigmatize seeking help.
Exercise culture runs strong in Singapore
More than a quarter (26%) of respondents in Singapore rate their exercise habits as “excellent” or “very good”.
When asked how they manage their weight, two-thirds (66%) said they exercise regularly, higher than the Asia-Pacific average of 61%; with only 4% of Singapore respondents turning to medication for weight management. The findings underscore a relatively strong exercise culture and the prioritization of healthy habits among those living in the nation. Communities and organizations may leverage the growing fitness trend to enhance physical well-being.
Cautious optimism around AI in healthcare
Close to half (47%) of Singapore respondents are positive about the impact of AI on healthcare, with 45% expecting it will reduce wait times within three years. This could have an outsized impact in Singapore, as respondents here are 29% more likely to have delayed or avoided getting care due to concern with wait times than their regional counterparts.
Additionally, almost half of Singapore respondents (48%) mention a reduction in human interaction as an expected change with the advent of AI. The challenge ahead is striking the right balance between efficiency and empathy.
The full findings of the report are available here.
Hashtag: #CignaHealthcare #CignaHealthcareInternationalHealthStudy #Health #Wellness #Wellbeing
https://www.cigna.com.sg/
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Cigna Healthcare Singapore
Cigna Healthcare is a division of The Cigna Group, a global health company committed to creating a better future built on the health and vitality of every individual and every community. Cigna Healthcare is a health benefits provider that advocates for better health through every stage of life. We guide our customers through the healthcare system, empowering them with the information and insight they need to make the best choices for improving their health and vitality.
Cigna Healthcare Singapore is a strong believer of total health and wellness and prides itself on delivering personalized solutions for the health of our clients and customers. To achieve this, Cigna Healthcare Singapore works as one global team and in close partnership with its customers, network providers and communities to understand and address their diverse needs. Learn more at www.cigna.com.sg
The JESSICA Beauty and Wellness Awards celebrate excellence across luxury beauty, healthcare and wellness. It is one of the most recognized beauty industry awards in Hong Kong. The organizer, JESSICA, is a major lifestyle and media company. For over 25 years, JESSICA has been reporting on fashion, lifestyle and business, as one of the most trustworthy and influential media sources in Hong Kong.
“We’re incredibly fortunate to win this new, Best AI Slimming Award with JESSICA,” said the spokesperson for SWISS REJU. “Our goal was to provide our guests with top medical aesthetic technologies. Platforms like BTL EXION and INDIBA, are exactly the type of top medical technologies which SWISS REJU is heavily investing in. The breathtaking results powered by AI, reflect the endless possibilities new technologies can bring to the beauty and slimming field”
The JESSICA Beauty and Wellness Awards is extremely selective and has a rigorous nominations and editorial selection process. Only brands that have been proven to provide genuine service and excellent results are eligible to compete. Amongst the Winners this year, are Australian organic brand “CANVAS” and Japanese household name “Panasonic VITALIFT” beauty appliances.
SWISS REJU, with its heavy investment in new and prestigious technologies such as INDIBA (recently approved in Europe under the Medical Device Regulation), offers a seamless blend of traditional wellness and innovation, allowing guests to experience what many considered to be one of the most effective slimming treatments in Hong Kong. INDIBA with its trademark Proionic 448khz technology, is loved by the Top 1% most influential users in the world, amongst them European royalties, celebrity footballers and international singers.
The recognition of this major annual Award, reaffirms SWISS REJU’s commitment to exceptional technology. It is the 12th annual award won by the brand, representing a new record.
SWISS REJU and integrative power of cutting edge technologies
SWISS REJU’s trademarked “K-Lipolysis” body contouring program offers winning technologies including INDIBA, BTL EXION, Winback, ATP LIPO X, amongst others. It is the unique contouring solution beauty lovers are craving for.
Hashtag: #SWISSREJU #熱光溶脂
http://www.reju.hkThe issuer is solely responsible for the content of this announcement.
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