Core Viewpoint - Dairy stocks are rising against the trend, with Modern Dairy (01117) up 3.8% to HKD 1.64 and Yurun Dairy (09858) up 3.44% to HKD 5.11, following the announcement of temporary anti-subsidy measures on certain dairy imports from the EU [1] Group 1: Market Impact - The Ministry of Commerce announced temporary tariffs ranging from 21.9% to 42.7% on specific dairy products imported from the EU, effective from December 23 [1] - Citigroup estimates that the EU accounts for 20.7% of the import volume for the affected products, and domestic production costs are lower than imports, suggesting a potential shift towards domestic solid dairy processing businesses [1] Group 2: Demand and Supply Dynamics - The measures are expected to boost domestic raw milk demand, particularly benefiting domestic solid dairy companies like Yurun Dairy, which primarily serves clients such as Yili [1] - Huachuang Securities noted that the nearly 30% subsidy rate significantly increases the cost of related EU imported products, indicating a strong commitment from authorities to stabilize the market [1]
港股异动 乳业股逆势上扬 花旗料乳制品反补贴措施将有助于缓解国内原奶供应过剩