Packaged Foods and Meats

YILI

YILI released FY2025 Q4 earnings on April 29 After-Market (BJT), actual revenue CNY 25.37 B (forecast CNY 26.4 B), actual EPS CNY 0.1801 (forecast CNY 0.1389)

YILI released FY2026 Q1 earnings on April 29 During-Market (BJT), actual revenue CNY 34.82 B (forecast CNY 34.37 B), actual EPS CNY 0.85 (forecast CNY 0.835)

YILI released FY2025 Annual Earnings on April 29 After-Market (BJT), actual revenue CNY 115.93 B (forecast CNY 117.34 B), actual EPS CNY 1.83 (forecast CNY 1.746)

YILI to Release FY2025 Earnings on April 30 After-Market (BJT), Forecast Revenue CNY 117.39 B, EPS CNY 1.7457

YILI to Release FY2026 Q1 Earnings on April 30 During-Market (BJT), Forecast Revenue CNY 34.37 B, EPS CNY 0.835

YILI released FY2025 Q3 earnings on October 30 Pre-Market (BJT), actual revenue CNY 28.63 B (forecast CNY 29.44 B), actual EPS CNY 0.51 (forecast CNY 0.4473)

YILI released FY2025 9 Months Earnings on October 30 Pre-Market (BJT), actual revenue CNY 90.56 B, actual EPS CNY 1.6491

YILI to Release FY2025 Q3 Earnings on October 31 Pre-Market (BJT), Forecast Revenue CNY 29.44 B, EPS CNY 0.4473

Yili Shares Leading Position in Infant Formula Market

YILI released FY2025 Q2 earnings on August 29 During-Market (BJT), actual revenue CNY 28.76 B (forecast CNY 28.99 B), actual EPS CNY 0.3691 (forecast CNY 0.329)

YILI released FY2025 semi-annual earnings on August 29 During-Market (BJT), actual revenue CNY 61.93 B, actual EPS CNY 1.14

YILI to Release FY2025 Semi-Annual Earnings on August 29, 2025 (BJT)

Yili Shares Layout Deep Processing Product Lines and International Markets

Government Launches Infants Subsidy to Boost Consumption

Chinese Dairy Industry Surpasses EU Standards in 20 Years, Yili Milk Meets Global Leading Standards

Yili Applies for New Trademarks and Publishes Financial Data

Inner Mongolia Yili Submits New Trademark Registration Application

Yili Group Renews Partnership with FIBA

Yili Group Emphasizes Deep Processing to Solve Dairy Industry's Cyclical Fluctuation Problem

Yili Submits New Trademark Registration Applications, R&D Investment Increases

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CIADY

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CLSA's report indicates that raw milk prices in China are set to rebound in the second half of 2026 due to easing overcapacity and stabilizing demand. MENGNIU DAIRY is highlighted as a key beneficiary due to its strong control over upstream resources and high exposure to liquid milk. The report maintains a High-Conviction Outperform rating for MENGNIU with a target price of HKD21.1, while also favoring YILI for its diversified business and dividend payout.

AASTOCKS News

MENGNIU DAIRY

Mengniu Dairy

ChinaAMC CSI Food & Beverage Sub-Industry ETF

China Merchants Guozheng Food and Beverage ETF

Tianhong CSI Food and Beverage ETF

Hwabao WP CSI Food & Beverage Sub-Industry ETF

CLSA: MENGNIU DAIRY  Main Beneficiary of Raw Milk Price Rebound

Potential El Nino conditions may increase crude palm oil prices by 5%-10% due to reduced yields in Malaysia and Indonesia, according to Citi analyst Gan Huan Wen. Historically, El Nino has raised CPO prices by an average of 17%. Citi remains bullish on the CPO sector, favoring SD Guthrie. Meanwhile, Chinese dairy stocks like Mengniu and Yili may benefit from a recovery in raw-milk prices, driven by tightening supply. Lastly, the U.A.E.'s exit from OPEC could have mixed effects on U.S. oil producers, potentially leading to production cuts if the U.A.E. increases supply.

MorningStar

Citigroup

DBS Group

Morningstar

Australia and New Zealand Banking Group Limited

Huayou Cobalt

CITIGROUP INC 6.250 NON CUM SER II PFD WI

ANZ Group Holdings Limited

The Global Energy Order Is Breaking Down — -2-

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Ausnutria Dairy Corp. Ltd. has signed three framework agreements with its controlling shareholder, Yili Industrial Group, and its subsidiary, Yishun. These agreements cover logistics services, contract manufacturing, and the supply of probiotics products through 2028. The logistics deal involves Yishun providing transportation and supply chain management, while Ausnutria will produce milk powder for Yili. The new probiotics supply framework extends the term to 2028, accommodating higher demand. These arrangements are classified as continuing connected transactions under Hong Kong listing rules, enhancing collaboration with the controlling shareholder without requiring independent approval.

Tip Ranks

AUSNUTRIA

Ausnutria Deepens Ties With Controlling Shareholder Through New Supply and Logistics Deals

Liu Yonghao's New Hope Dairy has filed for a Hong Kong IPO, reporting a revenue of 11.2 billion yuan last year. The company ranks fifth in China's liquid dairy market, facing tough competition from industry leaders Yili and Mengniu. Despite its growth through acquisitions, New Hope Dairy's relatively young dairy division struggles against the established giants, which have decades of experience and larger market shares. The IPO aims to enhance financing capabilities to better compete in the market.

benzinga_article

New Hope

NEW HOPE SERV

China's 'Feed King' Liu Yonghao's New Hope Dairy Seeks Hong Kong IPO

China Youran Dairy Group Limited has renewed key agreements with its controlling shareholder, Yili Group, for the purchase of dairy products, sale of raw milk, and provision of financial services from January 1, 2027, to December 31, 2029. These arrangements ensure operational continuity and compliance with Hong Kong listing rules, including independent shareholder approval for certain transactions. The agreements highlight the company's reliance on Yili for operational and financial support, while also emphasizing the need for minority shareholder protections regarding pricing and risk management.

China Youran Dairy Renews Key Supply and Financial Deals With Controlling Shareholder Yili

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China Youran Dairy Signs Connected Deal to Source Dairy Cows from Yili Subsidiary

Fullgoal CSI Agriculture Theme ETF

Guotai CSI Animal Husbandry ETF

China Merchants CSI Animal Husbandry ETF

E Fund CSI Modern Agriculture Theme ETF

Harvest CSI Grand Agriculture ETF

ChinaAMC CSI Agriculture Theme ETF

YOURAN DAIRY

Ping An CSI Animal Husbandry ETF

Hwabao WP CSI All Share Agriculture, Animal Husbandry and Fishery Products ETF

Penghua CSI Animal Husbandry ETF

China Youran Dairy Signs Connected Deal to Source Dairy Cows from Yili Subsidiary

Yili Group, a global leader in the dairy industry, announces the launch of the "2026 Yili Online Tour" and a global recruitment campaign for "Yili Quality Ambassadors." The initiative invites enthusiasts worldwide to share authentic experiences and promote a quality lifestyle while exploring diverse cultures in countries like Thailand, Indonesia, Singapore, the Netherlands, and New Zealand. Candidates with local cultural knowledge and content creation skills are especially welcome. The recruitment period runs from March 20 to April 30, 2026, with selected ambassadors participating in exclusive experiences and visits to Yili's facilities.

prnewswire

20:03 ETStart van de 2026 Yili Online Tour: wereldwijde werving voor "Yili Quality Ambassadors" nu geopend!

The research report from Jefferies indicates that the provisioning concerns for MENGNIU DAIRY have passed, with a projected net profit between RMB 1.4 billion and 1.6 billion in 2025, which is below market expectations. Although the provisioning amount is higher than expected, the price of raw milk has stabilized, and the performance of liquid milk is strong. The market will focus on the recovery of liquid milk and business diversification in the future. Jefferies maintains a "Buy" rating on MENGNIU, with a target price of HKD 24.3, but prefers YILI due to its robust recovery trajectory and expanding net profit margin

AASTOCKS

Credit Suisse expects that the provisioning concerns for Mengniu Dairy have passed and prefers YILI

China's largest tech bond issuer this year is Inner Mongolia Yili Industrial Group, a dairy producer, which has issued 45 billion yuan in technology and innovation bonds. This surpasses actual tech firms, highlighting a trend where traditional sectors benefit from a program designed to support tech growth. Despite incentives, Chinese tech companies have not pursued significant debt financing like their US counterparts. Many bonds have short maturities, indicating quick fundraising rather than long-term tech investments. Analysts warn of risks in funding misuse and the need for stronger oversight.

Businesstimes News

China’s biggest tech bond issuer this year is a dairy maker

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The Lyon Research Report points out that the number of births in China will be 7.92 million in 2025, lower than expected, and competition in the infant formula market is expected to intensify. The milk powder market size will remain flat in 2025, with a projected decline of 3% in 2026. The lower-than-expected birth rate means that companies need to pay attention to product structure and sales momentum. Lyon prefers YILI and H&H INTL HLDG, giving them an "outperform" rating, with target prices of RMB 34, HKD 16.4, and HKD 4.9, respectively

H&H INTL HLDG

In "The Big Banks," Citigroup: Last year's birth rate in China fell short of expectations, expecting intensified competition in the infant formula market

YILI(600887.SH)

CLSA: MENGNIU DAIRY Main Beneficiary of Raw Milk Price Rebound

The Global Energy Order Is Breaking Down — -2-

Ausnutria Deepens Ties With Controlling Shareholder Through New Supply and Logistics Deals

China's 'Feed King' Liu Yonghao's New Hope Dairy Seeks Hong Kong IPO

China Youran Dairy Renews Key Supply and Financial Deals With Controlling Shareholder Yili

China Youran Dairy Signs Connected Deal to Source Dairy Cows from Yili Subsidiary

20:03 ETStart van de 2026 Yili Online Tour: wereldwijde werving voor "Yili Quality Ambassadors" nu geopend!

Credit Suisse expects that the provisioning concerns for Mengniu Dairy have passed and prefers YILI

China’s biggest tech bond issuer this year is a dairy maker

In "The Big Banks," Citigroup: Last year's birth rate in China fell short of expectations, expecting intensified competition in the infant formula market