China Mengniu Dairy 2319

Re: China Mengniu Dairy 2319

Postby winston » Wed Mar 30, 2016 2:56 pm

MENGNIU DAIRY Soars 9%; Repurchases Shares with Over $31M after Results

MENGNIU DAIRY (02319.HK) repurchased 2.848 million shares on 23 March and 29 March at a price of $10.78-10.98 per share which involved more than $31 million.

Being the best performer of blue chip, the stock snapped the two-day losing streak and surged 9% today to $11.86, reclaiming 50-day MA ($11.15), on increasing volume to 22.84 million shares.

MENGNIU DAIRY reported 2015 net profit of RMB2.367 billion, up less than 1%.

EPS equaled 60.9 fen. Final dividend fell sharply by 50% yearly to 14 fen.

Credit Suisse and Citigroup cut MENGNIU DAIRY's target price to $12 and $14.4 after results.

Source: AAStocks Financial News
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Re: China Mengniu Dairy 2319

Postby winston » Fri Jun 24, 2016 1:30 pm

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<Research Report>Citi Raises MENGNIU DAIRY (02319.HK) Target to $16.23; Rated Buy

Citigroup, in its report, believed that there is no deterioration of industry competition year-to-date, and the China UHT liquid milk market's 3% value growth in the first four months of 2016 outperformed most food and beverage categories.

Citigroup is more confident in MENGNIU DAIRY (02319.HK)?s 2H16 and 2017 earnings outlook given its continued market share gains, improved sales mix and the elimination of downside risks.

The broker maintained the rating Buy, and lifted the target price from $14.4 to $16.23 (based on 18x 2016 profit).

Citigroup pointed out that most dairy manufacturers prefer spending more on advertising than promotions, which help boost short-term volume.

In both UHT milk and room-temperature yoghurt categories, Mengniu has ran fewer promotions than the industry in the first four months of 2016, as its brand remains strong with recent product upgrades.

China?s raw milk spot price has recently stabilized, so Citigroup expected industry competition to ease over 2H16 and 2017 and a yearly decrease in Mengniu?s A&P to sales ratio, as well as an expansion in gross margin with further improvement in sales mix.

Source: AAStocks Financial News
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Re: China Mengniu Dairy 2319

Postby winston » Thu Jul 07, 2016 11:42 am

<Research Report>Deutsche Lifts MENGNIU DAIRY Target to $14.5; Rated Buy

Deutsche Bank, in its report, said the price competition of dairy products in mainland China stabilized and expected Mengniu's high-end products to drive sales growth and margin expansion in 1H16.

Meanwhile, it also expected its increasing investment in branding and channel penetration begins to drive continued improvement in 2H16-2017.

The broker lifted the EPS of Mengniu for 2016-18 by 1-3% to reflect improving sales growth. It maintained the milk producer at Buy with target raised from $14.1 to $14.5.

Source: AAStocks Financial News
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Re: China Mengniu Dairy 2319

Postby winston » Thu Aug 25, 2016 11:13 am

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<Result Ann>MENGNIU DAIRY Interim Net Profit Falls 19.5% to RMB1.077B

MENGNIU DAIRY (02319.HK) announced the interim result of 2016.

During the period, the revenue rose 6.6% yearly to RMB27.26 billion; net profit fell 19.5% to RMB1.077 billion;

EPS was 27.7 fen. No interim dividend was declared.

During the period, the gross profit rose 12.8% yearly to RMB9.181 billion; gross profit margin rose 1.8 ppts to 33.7%.

Source: AAStocks Financial News

http://www.hkexnews.hk/listedco/listcon ... 824952.pdf
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Re: China Mengniu Dairy 2319

Postby winston » Thu Aug 25, 2016 11:17 am

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MENGNIU DAIRY Jumps Over 7%; M Stanley Sets Its Target at $13.8

MENGNIU DAIRY (02319.HK) earned nearly 20% less in half year.

However, Morgan Stanley said that the company's interim core profit topped estimates and set the target price at $13.8.

The stock rebounded after opening lower 0.6% this morning and last printed at $13.96, up 7.2%, hitting over a month high.

The company became the best performing blue chip, on volume increasing to 15.2 million shares.

MENGNIU DAIRY's interim net profit dropped 19.5% to RMB1.077 billion, with EPS of 27.7 fen. During the period, total revenue rose 6.6% yearly to RMB27.26 billion. Gross profit gained nearly 13% yearly to RMB9.181 billion. Profit margin added 1.8 ppts to 33.7%.

Morgan Stanley said that MENGNIU DAIRY's core earnings only fell 4% from a year earlier to RMB1.303 billion if CH MODERN D (01117.HK) one-off non-cash loss is excluded.

Source: AAStocks Financial News
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Re: China Mengniu Dairy 2319

Postby winston » Thu Aug 25, 2016 4:07 pm

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<Research Report>BofAML Upgrades MENGNIU DAIRY to Buy with Target Lifted to $16.5

Bank of America Merrill Lynch, in its report, said the interim net profit of MENGNIU DAIRY (02319.HK) fell 20%, which, the broker believed, has hit the trough and will rise 11% and 26% in 2H16 and 2017, mainly driven by the expansion of sales and profit margin.

The broker believed the worst time of the group is about to be over, thus lifted the earning forecast for 2017-18 by 7-8%, with target price lifted from $14 to $16.5, implying 20x P/E ratio, and the rating upgraded to Buy from Neutral.

The broker said the group is expected to unload its excess infant formula inventory within this year, and the promotional discount us expected to be milder than before, driving up operating profit margin by 80 bps and driving down 100 bps opex, thus lifting the operating profit margin to 6.9% by 2018, up 1.6 ppts than 2016's 5.3%.

The broker also expected the earnings CAGR for 2016-18 to be 22%, but the current share price has not factored in these factors.

Source: AAStocks Financial News
Web Site: www.aastocks.co
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Re: China Mengniu Dairy 2319

Postby winston » Mon Sep 19, 2016 11:31 am

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<Research Report>M Stanley Downgrades MENGNIU DAIRY to Equalweight; Expects Limited Upside for Next 6-12 Mths

Morgan Stanley, in its report, highlighted that MENGNIU DAIRY (02319.HK)'s recent share price was outstanding but the valuation on the group was already reasonable, hence expected limited upside for next 6-12 months.

The unexpected changes of major management might heighten market near-term worres.

The research house downgraded the company from Overweight to Equalweight with target kept at $13.8.

Source: AAStocks Financial News
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Re: China Mengniu Dairy 2319

Postby winston » Mon Sep 19, 2016 11:31 am

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<Research Report>M Stanley Downgrades MENGNIU DAIRY to Equalweight; Expects Limited Upside for Next 6-12 Mths

Morgan Stanley, in its report, highlighted that MENGNIU DAIRY (02319.HK)'s recent share price was outstanding but the valuation on the group was already reasonable, hence expected limited upside for next 6-12 months.

The unexpected changes of major management might heighten market near-term worres.

The research house downgraded the company from Overweight to Equalweight with target kept at $13.8.

Source: AAStocks Financial News
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Re: China Mengniu Dairy 2319

Postby winston » Tue Nov 22, 2016 9:08 pm

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China Mengniu 中国蒙牛乳业有限公司 (2319 HK)

China’s dairy production is recovering with the production growth accelerating from 4.9% in 2015 to 10.6% in 7M16.

Mengniu is one of the key beneficiaries of the recovery of China’s dairy consumption.

Although the company reported lacklustre 1H16 earnings, its strong pick-up in top-line and margin expansion impressed market.

We like its leading position, strong product innovation and strengthened sales channel management.

We suggest a BUY recommendation with a target price of HK$18.30.

http://www.mengniuir.com/html/

Source: UOBKH
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Re: China Mengniu Dairy 2319

Postby winston » Thu Dec 15, 2016 9:11 am

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The Company wishes to inform its shareholders (the “Shareholders”) and potential investors that, based on information currently available to the Group’s management, it is expected that the profit attributable to owners of the Company will record a substantial loss for the year ending 31 December 2016, which is mainly attributable to the following factors:

(i) Yashili International Holdings Ltd (“Yashili”), a subsidiary of the Group, is expected to record a loss for the year ending 31 December 2016, and after giving due consideration to the operating condition and financial performance of Yashili in recent years, the Group will recognize an impairment provision against the goodwill recorded in the related milk powder products business in this year;

(ii) for the purpose of working capital management, the Group has been striving to optimize its raw milk powder inventory level by various measures, including selling excessive quantity at market price, thereby resulting in a loss; and

(iii) a significant associated company of the Company is expected to record a loss for the year ending 31 December 2016 and the Company will correspondingly record a share of losses from associated companies.

http://www.hkexnews.hk/listedco/listcon ... 215025.pdf
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