China Shengmu Organic Milk Ltd (HK:1432) has released an update.
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China Shengmu Organic Milk Ltd has issued a profit warning, expecting a loss of RMB 130 million to RMB 150 million for the first half of 2024, a significant downturn from the RMB 23 million profit in the same period last year. The anticipated loss is primarily due to a decrease in raw milk prices, increased loss from changes in fair value of biological assets, and a weaker beef market. Despite these challenges, the company has seen growth in herd quality and milk yield, and has made strategic investments in digitalization and high-quality cattle imports to position itself for future industry recovery.
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