by winston » Mon Aug 04, 2014 9:01 am
Dairy stocks pressured on central M&A proposal
Jun 13, 2014
The Ministry of Industry and Information Technology (MIIT)'s consumer goods unit convened a meeting today for promoting the acquisitions and reorganization of dairy companies which produce infant formula, and the reorganization plan of domestic infant formula industry has been approved by the central government, Nanfang Daily reported.
Certain aims were laid out, in the way that by 2015, about 10 infant formula enterprises will achieve annual revenue above RMB2 billion, and top 10 enterprises will account for 65% of market share; by 2018, 3-5 enterprises will achieve annual sales revenue above RMB5 billion, and top 10 enterprises will account for 80% of market share.
HK dairy stocks received the news negatively, as MENGNIU DAIRY (02319.HK) last lost 3% to $35.4; YASHILI INT'L (01230.HK) faded 4.2% to $2.93; BIOSTIME (01112.HK) and CH MODERN D (01117.HK) dropped 3% and 3.7%, respectively. YST DAIRY (01431.HK) continued lower by 0.7%; HUISHAN DAIRY (06863.HK), despite in-line results, decreased 1% to $1.91.
Source: AAStocks Financial News
It's all about "how much you made when you were right" & "how little you lost when you were wrong"