China Mengniu Dairy

China Mengniu Dairy is an investment holding company. Through its subsidiaries, Co. is engaged in the manufacturing and distribution of dairy products including liquid milk products (such as ultra-high temperature (UHT) milk, milk beverages and yogurt), ice cream, milk formula and other products (such as cheese) in China. Co.'s core brand is MENGNIU. Co.'s segments include liquid milk products, which manufactures and distributes UHT milk, milk beverages and yogurt; ice cream products, which manufactures and distributes ice cream; milk powder, which manufactures and distributes milk powder; and other products, which includes Co.'s cheese, plant-based nutrition product and trading business.
  • TickerEZQ
  • ISINKYG210961051
  • SectorFood Producers
  • CountryGermany

Analysts

CHINA MENGNIU DY.CO.LTD. sees a downgrade to Slightly Negative on account of less fundamental stars

The independent financial analyst theScreener just lowered the general evaluation of CHINA MENGNIU DY.CO.LTD. (HK), active in the Food Products industry. As regards its fundamental valuation, the title now shows 1 out of 4 stars while market behaviour can be considered moderately risky. theScreener believes that the title remains under pressure due to the loss of a star(s) and downgrades its general evaluation to Slightly Negative. As of the analysis date February 11, 2020, the closing price was HKD 30.00 and its target price was estimated at HKD 26.61.

UOB
Ivy Xu Da ...
  • Robin Yuen

Dairy - Novel coronavirus’ impact is limited

Given the escalating spread of the novel coronavirus across Greater China, we believe “indoor-consumption” will be boosted. Looking across consumer subsectors, the dairy sector’s demand will remain resilient, although it may suffer short term channel inventory build-up due to less gifting demand during the Chinese New Year. We believe in the long term, the impact will be neutral to slightly positive on the back of consumers’ increased health awareness during the epidemic which can stimulate dairy consumption per capita. Maintain OVERWEIGHT.

UOB
Ivy Xu Da ...
  • Robin Yuen

Dairy - 2020 outlook: Product premumisation is key

Dairy is the key beneficiary of the growing middle class in China which pays more attention to health and lifestyle. Dairy products’ premiumisation is the dominant driver of sales growth in 2020 as the middle class upgrades its consumption preference. Although new births have declined in numbers, we believe large domestic infant milk formula (IMF) players can still gain growth via product differentiation and market share gains. Maintain OVERWEIGHT on the dairy sector.

UOB
Tham Mun Hon

CHINA/HK MARKET STRATEGY FOR 2020: 143-page report – Price = US$500:-

UOB Kay Hian published on 11th December a 143-page China/HK strategy report, which highlights our preferred sectors and stocks for 1H 2020. The report includes sections on:- * Market Strategy for 2020: pages 4 – 15; * Stock Recommendations: page 16; * China 2020 Economic Outlook: pages 17 – 26; * Review of Sectors: pages 27 – 112; * Company Updates - Top Stock Picks: pages 114 – 143. For more information about the UOBKayHian dealing services in the Asia-Pacific region and the research on Asian companies (including bespoke packages and free trials), please contact David Osman or Simon Dickson i...

UOB
Ivy Xu Da ...
  • Robin Yuen

China Mengniu Dairy (2319 HK): Reverse roadshow to China modern dairy.

We attended CMD’s reverse roadshow in Bengbu, Anhui, visiting their plant and meeting with management. CMD, one of Mengniu’s associates, supplies 80% of its raw milk to Mengniu. CMD’s management expects the raw milk shortage in China to persist for another 2-3 years. In 2020, CMD’s raw milk prices are expected to grow 4% yoy and volume to increase 5% yoy due to the raw milk upcycle and company efforts to raise efficiency. Maintain BUY on Mengniu with target price of HK$35.00.

UOB
Tham Mun Hon

CHINA/HK MARKET STRATEGY FOR 2020: 143-page report – Price = US$500:-

UOB Kay Hian published on 11th December a 143-page China/HK strategy report, which highlights our preferred sectors and stocks for 1H 2020. The report includes sections on:- * Market Strategy for 2020: pages 4 – 15; * Stock Recommendations: page 16; * China 2020 Economic Outlook: pages 17 – 26; * Review of Sectors: pages 27 – 112; * Company Updates - Top Stock Picks: pages 114 – 143. For more information about the UOBKayHian dealing services in the Asia-Pacific region and the research on Asian companies (including bespoke packages and free trials), please contact David Osman or Simon Dickson i...

UOB
Ivy Xu Da ...
  • Robin Yuen

China Mengniu Dairy (2319 HK): Reverse roadshow to China modern dairy.

We attended CMD’s reverse roadshow in Bengbu, Anhui, visiting their plant and meeting with management. CMD, one of Mengniu’s associates, supplies 80% of its raw milk to Mengniu. CMD’s management expects the raw milk shortage in China to persist for another 2-3 years. In 2020, CMD’s raw milk prices are expected to grow 4% yoy and volume to increase 5% yoy due to the raw milk upcycle and company efforts to raise efficiency. Maintain BUY on Mengniu with target price of HK$35.00.

Salikin Siti

China Mengniu Dairy Company Limited

Feasibility Study Results in December to be a Catalyst for this Junior

Feasibility Study Results in December to be a Catalyst for this Junior