研报掘金丨华西证券：维持妙可蓝多“买入”评级，利空落地，专注经营进入新征程

Core Viewpoint - The report from Huaxi Securities indicates that Miaokelan Duo has overcome negative factors and is entering a new phase of focused operations [1] Group 1: Company Announcements - The company has released a series of announcements since December 2025, including updates on a stake acquisition fund and related risks on December 27, a notice of the controlling shareholder increasing their stake on December 30, and changes in executive leadership on January 26 [1] - The changes in management and the increase in shareholding by the controlling shareholder reflect a commitment to the company's core business and operational focus [1] Group 2: Market Outlook - The controlling shareholder remains optimistic about the development of China's dairy processing industry and the operational strength of Miaokelan Duo, suggesting that the company is poised for further growth [1] - The report maintains a "buy" rating, indicating confidence in the company's future performance and strategic direction [1]