China Feihe's Earnings Declines Likely to Narrow This Year -- Market Talk

Dow Jones03-11

0251 GMT - China Feihe's net profit margins may contract in 2024 on unfavorable product mix changes but the earnings declines may narrow with channel destocking largely completed, Citi analysts say in a research note. While the infant formula market may continue to decline with lower infant population, the magnitude may be smaller than in 2023 due to a mild recovery in new births, they say. They expect Feihe's revenue to decline 4% in 2024, compared with a likely high-single-digit drop in 2023. Feihe's net profit may fall 12% in 2024 versus a 31% to 37% decline expected in 2023. Citi has a downside catalyst watch on Feihe that expires on April 8. Shares are 0.8% lower at HK$3.73. (sherry.qin@wsj.com)

(END) Dow Jones Newswires

March 10, 2024 22:51 ET (02:51 GMT)

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Feihe's net profit may fall 12% in 2024 versus a 31% to 37% decline expected in 2023. Citi has a downside catalyst watch on Feihe that expires on April 8. Shares are 0.8% lower at HK$3.73. 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