ATM - A2 Milk Corporation Limited

[Snow Leopard]

You need to go the whole hog with your MAs

You’ll have to admit the Rainbow MA looks really impressive

No worries here

You been reading too much Daryl Guppy ( The original Mr Mustache )

https://www.investopedia.com/terms/g...ng-average.asp

[Beagle]

I think he could be a SUMwhat blinkered racehorse.

You were there at the annual meeting late April 2019 when the shares were ~ $5.50 and I told you in no uncertain terms to hold them. I keep it under 10% and make sure I keep a wide field of view on other investment opportunities and augment that with significant stakes in Kingfish, Barramundi and Marlin. Kind of ironic you saying I'm taking a blinkered approach...have a look in the mirror pal !

[winner69]

You been reading too much Daryl Guppy ( The original Mr Mustache )

https://www.investopedia.com/terms/g...ng-average.asp

Your hero?

I just found these rainbows on yahoo charts and they looked beautiful so look at them nowcand again.

[couta1]

You were there at the annual meeting late April 2019 when the shares were ~ $5.50 and I told you in no uncertain terms to hold them. I keep it under 10% and make sure I keep a wide field of view on other investment opportunities and augment that with significant stakes in Kingfish, Barramundi and Marlin. Kind of ironic you saying I'm taking a blinkered approach...have a look in the mirror pal !

You obviously overlooked the humour in my post. PS-I only bought SUM shares to get into the AGM and to once again give you the pleasure of riding in the old Suzuki. Lol

[Dotbond]

Another SPH disclosure notice from Morgan Stanley this morning.

[Ggcc]

This is the start of the rise to $17+.... Slow but steady will be sufficient for me. Or fast lol. Not a certainty, just a gut feeling

[see weed]

This is the start of the rise to $17+.... Slow but steady will be sufficient for me. Or fast lol. Not a certainty, just a gut feeling

I'm picking $18+ with my gut. Couta1 is that your 75,000 order at $14.70c.

[Joshuatree]

Is that your big colon or your small colon talking?

[Ggcc]

Is that your big colon or your small colon talking?

Both. They are in a longterm relationship

[bull....]

one of the biggest infant formula companies listed in hong kong recently very interesting reading propectus

China Feihe Limited 中國飛鶴有限公司 (Incorporated in the Cayman Islands with limited liability) GLOBAL OFFERING

Feihe, headquartered in Beijing, is the largest and most highly recognized Chinese brand infant milk formula company. As the prominent market leader, our brand ranked first among domestic and international peers

Overview of market

Due to the decline in birth rates, the retail sales volume of China’s infant milk formula market is estimated to experience a slightly lower growth from 2018 to 2023, with a CAGR of 3.8%. However, thanks to the continuously growing demand for high-end products and rising retail price, China’s infant milk formula market is expected to maintain steady growth in terms of the retail sales value

According to the F&S Report, in 2014 and 2018, international brands collectively held 55.0% and 53.4%, respectively, of the infant milk formula market in terms of the retail sales value. While domestic brands collectively held 45.0% and 46.6% of the infant milk formula market in the same years, respectively. Over the last five years, domestic brands have occupied a growing share of infant milk formula market through their continued investment in brand promotion as well as research and development of high-end products. By the end of 2023, the market share held by domestic brands is expected to increase to over half of the entire market

According to the F&S Report, since 2014, the high-end segment of infant milk formula products increased from RMB35.3 billion in terms of the retail sales value, which accounted for 22.0% of the overall market, to RMB92.9 billion in 2018, which accounted for 37.9% of the overall market, representing a CAGR of 27.3%, demonstrating faster growth than the overall infant milk formula market. The high-end segment is expected to continue to grow, reaching RMB199.8 billion by 2023, representing a CAGR of 16.6%. By 2023, the high-end segment is expected to account for approximately 58.3% of the overall infant milk formula market in China

The following are key market drivers and trends of the infant milk formula market in China:

•Favorable industry policies by the PRC government.

• The NDRC unveiled the Action Plan for the Promotion of Domestic Infant Milk Formula (國產嬰幼兒配方乳粉提升行動方案) in May 2019, aiming to increase the portion of domestically manufactured infant milk formula in China with a target to remain a 60% self-sufficient level in the industry, and to encourage the use of fresh milk in the production of infant milk formula. See “Regulatory Overview – Laws and Regulations Relating to the Industry – Policies Relating to Infant Milk Formula Industry.”

• The Administrative Measures for the Registration of Product Formulas of Infant Formula Milk Powder (嬰幼兒配方乳粉產品配方註冊管理辦法) issued in June 2016 limits each registered infant milk formula manufacturer to the registration of up to three product series, resulting in a higher market concentration which would benefit major infant milk formula market players with a strong presence in small cities and rural areas in China. See “Regulatory Overview – Laws and Regulations Relating to the Industry – Laws and Regulations Relating to the Production and Distribution of Dairy Products.”
The liberalization of the “One-Child Policy” and the implementation of the “Universal Two-Child Policy” may lead to the increase in the infant population aged 0-3 years, who are likely to be a force driving the growth of the infant milk formula market.

• Growth of the high-end infant milk formula segment. Due to increasing urbanization, rising disposable income and growing health awareness, the demand for high-end infant milk formula products, particularly super-premium products, is expected to be the driving force of the overall infant milk formula industry in China.

• Increasing urbanization and rising disposable income. The increase in the urbanization rate and the per capita annual disposable income of Chinese residents will enhance the purchasing power of consumers, allowing them to purchase more infant milk formula products, especially high-end products. Lower-tier cities as well as rural areas in China are becoming more urbanized and wealthy, and families in such regions are increasingly able to afford higher-quality infant milk formula. In general, these regions have larger populations and therefore higher potential for consumption growth.

• Low level of exclusive breastfeeding rate. The rate of infants that are fed exclusively with breast milk for the first six months after birth was 29% in 2018. The increasing resemblance of infant milk formula to breast milk, availability of infant milk formula and inconvenience of breastfeeding for working mothers are among the primary factors that have influenced a mother’s choice of whether or not to breastfeed her baby. With China’s continued economic growth and urbanization process, breastfeeding rates are forecasted to remain at low levels, creating more demand for infant milk formula.

can read the prospectus here has good overview of the infant formula market in china

https://www1.hkexnews.hk/listedco/li...9103000013.pdf