Core Viewpoint - The French yogurt brand Yuno has changed ownership in China, with Tian Tu Investment announcing the sale of its shares to Kunshan Noyuan Ruiyuan Management Consulting Co., backed by IDG Capital, for approximately 814 million yuan, indicating a potential loss for Tian Tu Investment [1][2]. Group 1: Transaction Details - Tian Tu Investment plans to sell its 45.22% stake in Yuno for about 814 million yuan, expecting a loss of 847,000 yuan from the transaction [1]. - The total price for the shares being sold, including other sellers, amounts to 751 million yuan [1]. - IDG Capital's acquisition cost for Yuno exceeds 1.6 billion yuan, with reports suggesting the total transaction price could reach 1.8 billion yuan [2]. Group 2: Company Performance - Yuno China reported revenues of 454 million yuan and a net profit of 8.515 million yuan in 2023, with revenues increasing to 810 million yuan and net profit rising to 95.454 million yuan in 2024 [3]. - Despite the growth, the yogurt market in China is facing challenges, with a projected decline of 10.68% in market size for 2024 [4]. Group 3: Market Dynamics - The yogurt market is experiencing polarization, with leading brands like Yili and New Dairy achieving growth in the low-temperature yogurt segment, while the overall market is under pressure from price wars [4]. - The mainstream price range for yogurt has decreased from 8-10 yuan five years ago to around 5 yuan currently, impacting sales of lower-end products [4].
天图投资，“亏本”卖优诺丨消费参考