China Mengniu Dairy Company Limited and its subsidiaries manufacture and distribute quality dairy products in China.
Mengniu Dairy continued to maintain high growth in 2019, and its net profit attributable to mothers reached a high of 4.105 billion yuan for the first time. Mengniu ’s 2017 target of “double 100 billion” is still far away.
On March 26, Mengniu Dairy issued its 2019 financial report, and revenue and profit maintained double-digit growth. During the reporting period, Mengniu's operating income reached 79.030 billion yuan, a year-on-year increase of 14.57%; net profit attributable to mothers was 4.105 billion yuan, a year-on-year increase of 34.91%.
Before Liangpinpu was ready to go public, the introduction of today's capital and Gaojing Capital escorted all the way. This time Junlebao's introduction of Sequoia China and Gaojing Capital may help the company's IPO process.
The target price of HK $ 37.0 is estimated that the company's EPS for 2019-2021 will be 1.75 / 1.18 / 1.40 yuan, respectively. The target price is HK $ 37.0, corresponding to 28 times PE in 2020, which has a 23.5% increase space compared to the current price.
The 18-year performance exceeded expectations, and the core business performance was dazzling: 18H1 / H2 company revenue was 345.6 / 34.61 billion yuan, an increase of 17.2% / 12.4% year-on-year respectively, both achieved faster double-dig