a2牛奶弃旧购新：12亿收购雅士利新西兰工厂，看中什么？

Core Viewpoint - A2 Milk Company is strategically focusing on the Chinese market by acquiring a factory from Yashili International Group for approximately NZD 282 million (around RMB 1.2 billion) to enhance its product offerings and market access in China [1][2]. Group 1: Acquisition and Strategy - A2 Milk Company has acquired the Pokeno factory, which has been approved for two new national standard formula registrations, providing a significant advantage in the competitive Chinese infant formula market [2][4]. - The acquisition allows A2 to bypass lengthy approval processes and directly gain valuable registration qualifications, addressing the urgent need for stable and controllable production capacity in China [2][5]. - A2 plans to invest NZD 382 million (approximately RMB 1.6 billion) in the new factory to enhance production capacity and create over 100 new jobs, indicating a long-term commitment to the Chinese market [1][2]. Group 2: Divestment and Focus Shift - Concurrently, A2 Milk Company is selling its stake in Mataura Valley Milk (MVM) to Open Country Dairy, optimizing its asset layout and focusing on high-value consumer products [6][7]. - This divestment allows A2 to stabilize its raw material supply while freeing up capital and management resources to concentrate on more profitable finished products [6][7]. Group 3: Financial Performance - For the fiscal year ending June 30, 2025, A2 Milk Company reported a revenue increase of 13.5% to NZD 1.902 billion, with a net profit after tax of NZD 202.9 million, reflecting a growth of 21.1% [8]. - Despite a general decline in the Chinese infant formula market, A2's revenue in China and other Asian regions grew by 13.9% to NZD 1.302 billion, highlighting the importance of this market for the company's overall performance [8]. - A2's market share in the Chinese infant formula sector increased from 7.1% in FY 2024 to 8.0%, positioning the company among the top four brands in the market [8].