China Mengniu Dairy 2319

[winston]

not vested

Liquid Milk Improvement And Further Margin Expansion In 2H24; Increasing Shareholder Returns

Mengniu has seen stable liquid milk sales volume and a slight price increase since 3Q24, due to competitors completing their inventory clearance even though consumer demand has not shown any significant improvement.

Management targets a flattish to slight positive growth in shipments in 2H24.

Raw milk supply and demand will reach a balance by 2Q25, benefitting larger players.

Mengniu targets a 30-50bp improvement in operating margin in 2H24.

Maintain BUY and raise target price by 1% to HK23.50.

Source: UOBKH

https://39646150.fs1.hubspotusercontent ... (2319%20HK)%20241122.pdf?utm_medium=email&_hsenc=p2ANqtz--obE3jRsm2XGahBVx6nNXG7lBzNbJ-hoW7NePC0JuDYYQ-WGxZqRZMSy6ibPumeE51NItIsBfGRfzX4KeXK6iznmg-MQ&_hsmi=335149550&utm_content=335149550&utm_source=hs_email

[winston]

not vested

G Sachs: MENGNIU DAIRY (02319.HK) Liquid Milk Growth Recovers, Reiterates Buy Rating

G Sachs issued a report stating that it recently held a meeting with MENGNIU DAIRY (02319.HK).

Management has become more confident about an industry recovery in 2026, mainly supported by stabilizing demand, improving pricing dynamics and continued penetration of emerging channels.

The company noted that raw milk prices have largely bottomed out, while retail pricing competition has gradually eased compared with 2025.

For 2026, MENGNIU DAIRY reiterated its target of achieving mid-single-digit revenue growth.

In 1Q26, liquid milk returned to positive growth, driving high-single-digit revenue growth.

G Sachs maintained its Buy rating on MENGNIU DAIRY, with a 12-month target price of HKD21.4.

Related News: CMSI Upgrades MENGNIU DAIRY (02319.HK) to Overweight; YOURAN DAIRY (09858.HK) Offers Trading Opportunities

Source: AASTOCKS Financial News

http://www.aastocks.com/en/stocks/news/ ... -news/AAFN