Want Want 2H Results Will Improve From New Product Launches; FVE Maintained at HKD 4.8 per Share
We expect narrow-moat Want Want China Holdings, or Want Want, to mitigate its rate of decline in revenue from a double-digit rate to a single-digit rate in the second half, owing to (1) new product launches, (2) more peak season days relative to the same period in 2015, and (3) abating competition in the dairy products market. Want Want’s new products, such as its new versions (lower sugar and higher protein) of Hot-Kid milk and room-temperature yogurt, will help to offset the weak sales for the...Want Want China Holdings is an investment holding company. Through its subsidiaries, Co. is engaged in the manufacturing, distribution and sale of rice crackers, dairy products and beverages, snack foods and other products. Co.'s activities are primarily conducted in the People's Republic of China, Taiwan, Japan, Singapore and Hong Kong. Co. produces and markets its products under the Want Want brand. As of Dec 31 2014, Co.'s operations are mainly organized into four business segments, including manufacturing and sale of: rice crackers, dairy products and beverages, snack foods and other products.
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