Q1 net profit rose 45.24 percent year on year to 12.95 million yuan (about 1.8 million U.S. dollars) while revenue grew 12.79 percent to 714 million yuan, the company said in a report filed with the Shenzhen Stock Exchange.
The demand for infant formula has expanded from China's first-tier and second-tier cities to third-tier and fourth-tier cities and small towns, Beingmate said in the report.
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