Core Viewpoint - Yurun Dairy (09858) has seen its stock price increase by over 7%, reaching a new high of 4.91 HKD, driven by rising raw milk prices and expectations of industry recovery [1] Company Summary - Yurun Dairy is the largest raw milk supplier in China, operating 100 farms and raising approximately 620,000 dairy cows, with an expected raw milk production of about 3.74 million tons in 2024, accounting for 12.1% of the national total [1] - The company is a leading player in the upstream industry, being the largest supplier of ruminant feed in China, and its subsidiary, Saikexing, is the largest dairy cattle breeding company in the country [1] - In the first half of this year, Yurun Dairy reported an average feed cost of 1.91 HKD per kilogram for raw milk, with a per cow yield of 12.9 tons, which is considered industry-leading [1] Industry Summary - Recent reports indicate that the price of raw milk has rebounded to around 3 HKD per kilogram, which has slowed the industry's destocking rate [1] - Despite significant financial pressures and ongoing losses within the industry, capacity reduction is expected to continue, leading to a stabilization and potential recovery of raw milk prices next year [1] - In the beef cattle sector, prices for calves and live cattle have recently increased, suggesting the possibility of a new beef cattle cycle, which may enhance the overall sector's performance [1]
港股异动 | 优然牧业(09858)午后涨超7% 股价刷新年内新高 机构看好牧业大周期