光明乳业：下属子公司新莱特拟出售新西兰北岛资产

Core Viewpoint - The company, Bright Dairy, announced a significant loss in its subsidiary, Synlait Milk Limited, due to underutilization of capacity at its North Island plant, leading to a decision to sell assets to Abbott Laboratories for $170 million [1][2]. Group 1: Financial Impact - Synlait Milk Limited plans to sell its North Island assets for $170 million (approximately NZD 288 million or CNY 1.21 billion) to Abbott Nutrition NZ Limited, with the transaction expected to close on April 1, 2026 [1]. - The sale is a response to substantial losses affecting Synlait's overall profitability, primarily due to low capacity utilization [1]. Group 2: Risk Management - Synlait Milk Limited is managing exchange rate risks through foreign exchange forward contracts to stabilize the settlement price against fluctuations in the USD/NZD exchange rate [2]. - The company will enter into a series of transitional service agreements with Abbott Nutrition, expected to last three years, with potential extensions [2]. Group 3: Company Structure - Bright Dairy's revenue composition for the year 2024 is as follows: dairy products account for 90.44%, other businesses for 4.85%, livestock for 4.22%, and miscellaneous for 0.5% [3]. Group 4: Market Position - As of the latest report, Bright Dairy has a market capitalization of CNY 11.7 billion [4].