On July 29, MENGNIU DAIRY rose 3.27% in regular trading, reaching HKD 19.32 per share with turnover of HKD 71.84 million, extending recent upward momentum.
The rally comes amid a series of positive signals. The company has conducted persistent share buybacks since June, most recently repurchasing 100,000 shares at HKD 18.00 per share on July 24, totaling HKD 1.80 million. Since the buyback authorization passed on June 5, cumulative repurchases have exceeded 2.84 million shares. Additionally, Schroders PLC disclosed two significant stake increases in early July, acquiring approximately 35.99 million shares at an aggregate cost of around HKD 620 million, raising its holding to 5.43%.
On the broker front, Puyin International maintained a Buy rating designating MENGNIU DAIRY as a top staple consumer pick for the second half, with a target price of HKD 21.30, citing channel stabilization and World Cup-driven brand exposure. Bank of America also reiterated Buy with a HKD 21 target, calling the prior selloff irrational. The broader packaged foods sector showed strength, with ANDRE JUICE up 5.62%, U-PRESID CHINA up 3.49%, TINGYI up 3.48%, and CHINA FEIHE up 3.34%.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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