研究报告 Research Report 17 Oct 2025 蒙牛乳业 China Mengniu Dairy (2319 HK) 底部已现，弹性之选 The bottom of this stock has emerged, and it is a flexible choice for the future. [Table_yemei1] 观点聚焦 Investment Focus [Table_Info] 维持优于大市 Maintain OUTPERFORM [Table_Author] 肖韦俐 Weili Xiao 闻宏伟 Hongwei Wen wl.xiao@htisec.com hongwei.wen@htisec.com [Table_header2] 蒙牛乳业 (2319 HK) 维持优于大市 评级 优于大市 OUTPERFORM 现价 HK$14.43 目标价 HK$27.60 HTI ESG 2.7-4.0-5.0 E-S-G: 0-5, (Please refer to the Appendix for ESG comments) 市值 HK$56.33bn / US$7.25bn ...